智通财经网·2026-01-22 04:03Core Viewpoint - Luoyang Molybdenum (03993) has successfully issued a $1.2 billion one-year zero-coupon convertible bond, enhancing its financial flexibility while limiting dilution risk [1][1][1] Group 1: Company Performance - Luoyang Molybdenum's stock experienced fluctuations, initially dropping nearly 4% before rising by 2.81% to HKD 21.48, with a trading volume of HKD 393 million [1][1][1] - The company anticipates that its preliminary performance for 2025 will meet expectations, driven by copper production exceeding guidance [1][1][1] - Management has indicated that copper production is expected to grow by 2.6% year-on-year to 10.7% in 2026 [1][1][1] Group 2: Market Conditions - The cobalt export quota from the Democratic Republic of Congo reflects a structural tightening in global supply, positively impacting prices [1][1][1] - This market condition is favorable for large producers like Luoyang Molybdenum [1][1][1] Group 3: Financial Strategy - The issuance of the $1.2 billion zero-coupon convertible bond is aimed at enhancing the company's financial flexibility [1][1][1] - The bond, if fully converted at the initial conversion price of HKD 28.03 per share, would convert into approximately 333.7 million H-shares, representing about 8.48% of the existing issued H-shares and approximately 1.56% of the total issued shares [1][1][1]