January 5, 2026 04:23 PM GMT Zhejiang Huayou Cobalt Co Ltd | Asia Pacific Strong FY25 Preliminary Results; Multiple Metal Price Tailwinds Ahead Reaction to earnings Unchanged Modest upside Modest revision higher Impact to our thesis Financial results versus consensus Direction of next 12-month consensus EPS Source: Company data, Morgan Stanley Research Huayou reported FY25 preliminary profit of Rmb5.85-6.45bn, up 41-55% YoY. The high-end exceeds MSe of Rmb5.9bn. Net profit for 4Q25 is implied at Rmb1.6-2.2n ...