Core Viewpoint - The article discusses the current market conditions, suggesting that despite the rise of many underperforming stocks, the author believes that the investment logic remains unchanged regardless of market trends [3]. Company Analysis Cangge Mining - Cangge Mining's fundamentals have improved, with the major profit source being the investment returns from the Jilong Copper Mine, which contributed a net profit of 1.25 billion in the first half of the year [4]. - The average copper price in the first half was around 78,000, with an estimated 75% of revenue coming from copper and 25% from by-products like molybdenum, silver, and gold [4]. - The second phase of the Jilong Copper Mine is expected to begin trial production in October, with a planned capacity of 200,000 tons by 2027, potentially generating a net profit of around 5 billion annually [4]. - The company also has significant contributions from potassium fertilizer and lithium mining, with projected average dividends of 2.5 per share over the next three years, yielding about 5% [4]. Zijin Mining - Zijin Mining is expected to achieve a net profit of around 50 billion this year, with an annual growth rate of 15% over the next five years [5]. - The company is positioned as a leading player in gold, copper, and lithium, with strong internal growth capabilities and management [5]. - Despite its growth potential, the market currently undervalues Zijin Mining, with a projected price-to-earnings ratio of around 6 times in five years [5].

Group 1 - The company Urat Rear Flag Zijin Mining Co., Ltd. has obtained a patent for a "slurry pool liquid level sensor," which aims to improve the accuracy of liquid level measurement in mining operations [1] - The patent includes a design that prevents the formation of continuous sediment layers, thereby reducing false alarms caused by sedimentation affecting the probes [1] - The sensor design features a base, insulating sleeves, probes, and insulating caps, with a continuous cleaning mechanism to minimize slurry attachment on the sleeves [1] Group 2 - Urat Rear Flag Zijin Mining Co., Ltd. was established in 2004 and is located in Bayannur City, primarily engaged in the non-ferrous metal mining and selection industry [2] - The company has a registered capital of 150 million RMB and has made investments in two other enterprises [2] - The company has participated in 34 bidding projects and holds 42 patents, along with 32 administrative licenses [2]

主要产品量价齐升 洛阳钼业上半年业绩再攀新高 ◎记者 王乔琪 业绩高增长源自矿山板块的强劲表现。报告期内，公司矿山端收入实现历史新高，达到394.02亿元，占 比整体营业收入约42%，比2024年同期和2023年同期分别提高11个和28个百分点。 矿业收入中，含"铜"量创下历史新高。公司上半年产铜35.36万吨，同比增长12.68%，按产量指引中值 计算（下同），完成度约56.1%；叠加铜价上涨，公司铜矿山端营业收入为257.18亿元，占比矿山端整 体约65%。 钴、钨、钼等金属产品也呈现回暖向好态势。上半年，公司产钴6.11万吨，钴矿山端营业收入为57.28亿 元，同比增长31.94%；产钼6989吨，完成度为51.8%；产钨3948吨，完成度为56.4%，钨矿山端营业收 入同比增长26.19%，为11.09亿元；产铌5231吨，创近年来新高，完成度为52.3%；磷肥产量为58.26万 吨，完成度50.7%。此外，公司全资子公司埃珂森（IXM）金属贸易平台提质控量，经营效益再创同期 新高。 公司降本增效成果显著，营业成本同比下降10.96%。分矿区看，TFM和KFM优化工艺流程，开展数智 化微创新等；中国区 ...

Group 1 - The stock price of Xingye Silver Tin closed at 19.97 yuan on August 22, 2025, up by 1.17% from the previous trading day, with a trading volume of 5.91 billion yuan [1] - Xingye Silver Tin operates in the non-ferrous metals sector, primarily engaged in the exploration, mining, and smelting of non-ferrous metal mineral resources [1] - The company announced on its investor interaction platform that the future plan for the second phase of Yinman will mainly process copper-tin ore, with products consistent with the first phase [1] Group 2 - On August 22, 2025, the main funds of Xingye Silver Tin experienced a net outflow of 70.76 million yuan, with a cumulative net outflow of 333 million yuan over the past five days [1]

每经记者｜王佳飞 每经编辑｜魏官红 8月22日晚间，洛阳钼业（603993.SH，股价11.11元，市值2376.91亿元）发布了2025年半年度报告。报 告期内，公司营业收入947.73亿元，同比下降7.83%；归属于上市公司股东的净利润86.71亿元，同比增 长60.07%，创同期历史新高。 洛阳钼业相关工作人员向《每日经济新闻》记者表示："公司降本增效成果显著，营业成本同比下降 10.96%。分矿区看，TFM和KFM（均为位于刚果（金）境内的铜钴矿区）优化工艺流程，开展数智化 微创新等；中国区优化药剂研究等，钼、钨选矿回收率提升，钼铁成本下降。" 主要产品市场价格的上涨为公司利润增长提供了有力支撑。上半年，伦敦金属交易所现货铜均价为9431 美元/吨，同比上涨3.75%；Fastmarkets（金属与大宗商品价格评估机构）标准级钴金属低幅价格升至平 均13.16美元/磅，同比上涨7.69%，氢氧化钴中间品折价系数则同比飙升至69.1%；钼、铌价格则基本保 持稳定。 此外，洛阳钼业上半年完成厄瓜多尔奥丁矿业（凯歌豪斯金矿）收购并快速推进开发工作，意味着洛阳 钼业进入了黄金领域。据了解，凯歌豪斯金矿计划20 ...

Core Viewpoint - Luoyang Molybdenum's significant profit growth in the first half of 2025 is attributed to increased production and prices of copper, alongside improved management efficiency and reduced operational costs [2][4]. Financial Performance - The company reported a revenue of 94.773 billion yuan and a net profit of 8.671 billion yuan, marking a year-on-year increase of 60.07%, setting a historical high for the same period [2]. - Mining revenue reached a historical high of 39.402 billion yuan, up 25.64% year-on-year, with copper mining revenue at 25.718 billion yuan, an increase of 28.42% [2]. Production Achievements - The company achieved all production targets for the first half of the year, producing 353,600 tons of copper (up 12.68%) and 61,100 tons of cobalt (up approximately 13.05%) [2]. - Production of molybdenum, tungsten, niobium, and phosphate exceeded 50% of annual targets [2]. Market Conditions - The overall copper price trend was strong in the first half of 2025, with the average copper price on the Shanghai Futures Exchange at approximately 77,400 yuan per ton, a year-on-year increase of 4.1% [3]. - Domestic copper supply remained tight, with copper concentrate processing fees dropping to a record low of negative 45 USD per ton by the end of June [3]. Cost Management and Efficiency - The company achieved a 10.96% reduction in operating costs, with various mining areas optimizing processes and improving recovery rates [4]. - Organizational upgrades were made to create a more international, professional, and youthful management team [4]. Strategic Developments - The acquisition of Ecuador's Odin Mining (KGHM) was completed, enhancing the company's multi-national, multi-mineral, and multi-asset business layout [4]. - The company is progressing towards its goal of producing 800,000 to 1,000,000 tons of copper in the Democratic Republic of the Congo [4].

8月22日晚，洛阳钼业公布2025年半年度报告，上半年实现营业收入947.73亿元；归母净利润为86.71亿元，增长60.07%，再创同期历史新高。 除铜之外，钴、钨、钼等金属产品也呈现回暖向好态势。具体而言，上半年，公司产钴6.11万吨，钴矿山端营业收入为57.28亿元，同比增长31.94%；产 钼6989吨，完成度为51.8%；产钨3948吨，完成度为56.4%，公司抓住钨价回暖契机，钨矿山端营业收入同比增长26.19%，为11.09亿元；产铌5231吨，创 近年来新高，完成度为52.3%；磷肥产量为58.26万吨，完成度50.7%。此外，公司全资子公司埃珂森（IXM）金属贸易平台提质控量，经营效益再创同期 新高。 公司降本增效成果显著，营业成本同比下降10.96%。分矿区看，TFM和KFM优化工艺流程，开展数智化微创新等；中国区优化药剂研究等，钼、钨选矿 回收率提升，钼铁成本下降；洛钼巴西大宗物资、物流服务和工程服务采购等支出同比下降，BVFR厂和BV厂回收率创历年来最好水平。 盈利指标亮眼的同时，公司财务状况也保持稳健。据披露，公司经营性净现金流为120.09亿元，同比增长11.40%；截至今年上半年 ...

兴业银锡（000426.SZ）8月22日在投资者互动平台表示，银漫二期未来计划主要处理铜锡矿石，主要产 品和目前一期的产品一致。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：银漫二期的产品是不是主要是铅锌银？能理解为二期 只产出少量的锡吗？ ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依 賴該等內容而引致之任何損失承擔任何責任。 Chifeng Jilong Gold Mining Co., Ltd. 赤峰吉隆黃金礦業股份有限公司 （於中華人民共和國註冊成立的股份有限公司） (H股股份代號：6693) 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條刊發。 此乃赤峰吉隆黃金礦業股份有限公司（「本公司」）登載於中華人民共和國上海證券交 易所網頁的公告。 承董事會命 赤峰吉隆黃金礦業股份有限公司 董事長兼執行董事 王建華 中國北京，2025年8月22日 截至本公告日期，本公司執行董事為王建華先生、楊宜方女士、呂曉兆先生及高波先生；非執行 董事為張旭東先生；以及獨立非執行董事為毛景文博士、沈政昌博士、胡乃連先生及黃一平博士。 让更多的人因赤峰黄金的发展而受益 | 1 重要提示 一、本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和 ...

智通财经APP讯，洛阳钼业(03993)发布截至2025年6月30日止六个月的中期业绩，营业收入947.73亿元 (人民币，下同)，同比减少7.83%;归母净利润86.71亿元，同比增加60.07%;基本每股收益0.41元。 （原标题：洛阳钼业(03993)发布中期业绩 归母净利润86.71亿元 同比增加60.07%） 公告称，公司各产品产量全部达成上半年度目标，实现时间过半任务超半。其中，产铜35.36万吨，同 比增长约12.68%;产钴6.11万吨，同比增长约13.05%。钼、钨、铌、磷肥等产品产量均超过年度目标的 50%。 ...