Ge Long Hui·2026-03-09 05:30Core Viewpoint - Luoyang Molybdenum's net profit attributable to shareholders is expected to exceed RMB 20 billion in 2025, driven by increased product prices and effective cost management [1] Production Guidance - Copper production is projected to be between 760,000 to 820,000 tons, an increase of 20,000 to 80,000 tons year-on-year [1] - Cobalt production is estimated at 100,000 to 120,000 tons, while molybdenum production is expected to be between 11,500 to 14,500 tons [1] - Tungsten production is forecasted at 6,500 to 7,500 tons, niobium at 10,000 to 11,000 tons, and phosphate fertilizer at 1,050,000 to 1,250,000 tons [1] - Physical trading volume has been adjusted down to 4,000,000 to 4,500,000 tons [1] Acquisition Activities - The company anticipates an additional gold production guidance of 6 to 8 tons in 2026, stemming from the acquisition of three gold assets in Brazil for USD 1.015 billion, completed within 40 days [1] - The acquisition of the Ecuador Odin gold mine was finalized in June 2025 [1] Investment Rating - The company maintains a "Buy" rating [1]