Core Viewpoint - Luoyang Molybdenum Co., Ltd. (603993.SH, 03993.HK) is expected to achieve a net profit of 20 billion to 20.8 billion yuan in 2025, marking the first time the company's annual profit exceeds 20 billion yuan, with a year-on-year increase of 47.80% to 53.71% [1] Financial Performance - The company anticipates a net profit attributable to shareholders of 20 billion to 20.8 billion yuan, an increase of 6.468 billion to 7.268 billion yuan year-on-year [1] - The non-recurring net profit is projected to be 20.4 billion to 21.2 billion yuan, reflecting a year-on-year increase of 7.281 billion to 8.081 billion yuan [1] - The growth rates for the non-recurring net profit are expected to be between 55.5% and 61.6% [1] Production Guidance - For 2026, Luoyang Molybdenum has provided production guidance of 760,000 to 820,000 tons of copper, 100,000 to 120,000 tons of cobalt, 11,500 to 14,500 tons of molybdenum, 6,500 to 7,500 tons of tungsten, 10,000 to 11,000 tons of niobium, 1.05 million to 1.25 million tons of phosphate fertilizer, and 6 to 8 tons of gold [1] - The company expects a physical trade volume of 4 million to 4.5 million tons [1] Project Development - Luoyang Molybdenum is actively advancing the construction of the KFM Phase II project in the Democratic Republic of the Congo, which is expected to add an annual copper production capacity of 100,000 tons upon its completion in 2027 [1]

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的內 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倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 自願性公告 關於本公司全資子公司 與第一量子全資子公司簽 署 合作契約 江 西 銅 業 股 份 有 限 公 司（「本公司」）及 董 事（「董 事」）會（「董事會」）全 體 成 員 保 證 本 公 告 內 容 的 真 實、準 確 和 完 整，對 本 公 告 的 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏 負 連 帶 責 任。 本公司謹此宣佈，本 公 司 全 資 子 公 司 江西銅業（香 港）投資有限公司（「江 銅香港投資」）在香港設立的全資子公司 江銅風險勘探管理有限公司 （「江銅風勘」）於 北 京 時 間 二 零 二 六 年 一 月 十 四 日 與First Quantum Minerals Limited（「第一量子」）全 資 子 公 司FQM Kazakhstan Limited（「第一量子哈薩克」） 簽 署《投資選 ...

Core Viewpoint - Luoyang Molybdenum Co., Ltd. (LM) expects significant growth in its 2025 financial performance, driven by increased production and effective cost management [1] Group 1: 2025 Performance Expectations - The company anticipates a net profit attributable to shareholders of between 20 billion to 20.8 billion yuan, representing a year-on-year increase of 47.80% to 53.71% [1] - The expected net profit excluding non-recurring items is projected to be between 20.4 billion to 21.2 billion yuan, reflecting a growth of 55.5% to 61.6% year-on-year [1] - Production of copper is expected to reach 741,149 tons in 2025, exceeding the initial guidance by 18% [1] Group 2: Production Achievements - The company has surpassed its production targets for all major products in 2025, including cobalt (117,549 tons, 107% of target), molybdenum (13,906 tons, 103% of target), tungsten (7,114 tons, 102% of target), and niobium (10,348 tons, 103% of target) [1] - Phosphate fertilizer production is projected at 1.21 million tons, achieving 105% of the target, while the physical trade volume reached 4.774 million tons, completing 112% of the target [1] Group 3: 2026 Production Guidance - For 2026, the company has set production guidance for copper at 760,000 to 820,000 tons, cobalt at 100,000 to 120,000 tons, and molybdenum at 11,500 to 14,500 tons [2] - The company is actively advancing the KFM Phase II construction, which is expected to add 100,000 tons of copper production annually starting in 2027 [2] - Plans for the TFM Phase III project are underway, aiming to achieve a copper production target of 1 million tons by 2028 [2]

（文章来源：证券日报） 证券日报网讯 1月15日，华钰矿业发布公告称，公司第五届董事会第十次会议审议通过《关于公司拟向 光大银行拉萨分行贷款的议案》。 ...

Group 1: Copper Mining Operations - The copper phase II project is currently in the capacity ramp-up stage, with a designed capacity of 11 million tons per year, expected to reach this standard by the end of the year [2] - The first phase of the copper mine is nearing closure, leading to a reliance on phase II for copper product supply [2] - The annual designed capacity for copper smelting is approximately 80,000 tons [2] - The sixth crusher for phase II is progressing normally and is expected to be operational by Q3 next year [2] Group 2: Financial Performance and Challenges - The low gross margin for copper products is primarily due to the underachievement of phase II production, resulting in high fixed costs per unit [3] - As production from phase II increases, the fixed cost per unit will decrease, leading to an improvement in gross margin to industry standards [3] Group 3: Iron Ore and Processing - The current stockpile of magnetite is approximately 110 million tons, with an average grade declining from an initial 58% [3] - The company plans to upgrade processing techniques to achieve a 65% grade iron ore with an annual output target of 6 million tons, enhancing market competitiveness [3] - Although costs per ton may slightly increase, the overall economic benefit is expected to improve due to a price difference of approximately $13 per ton between 62% and 65% grade [3] Group 4: Safety and Environmental Measures - The company prioritizes safety in production, implementing a weather warning system to mitigate risks from excessive rainfall [3] Group 5: Investor Relations and Dividends - The company emphasizes sustainable development in its dividend policy, aiming to balance profitability, cash flow, and investment needs to ensure stable returns for investors [3]

Core Viewpoint - Luoyang Molybdenum Co., Ltd. plans to invest up to RMB 20 billion in high-security, liquid financial products using idle funds, with the investment period from the approval of the 2025 annual shareholders' meeting to the 2026 annual shareholders' meeting [1] Group 1 - The company and its wholly-owned and controlling subsidiaries will selectively and gradually purchase financial products [1] - The investment balance will not exceed RMB 20 billion or its equivalent in foreign currency [1] - The validity period for the investment limit is from the approval date of the 2025 annual shareholders' meeting until the 2026 annual shareholders' meeting [1]

Group 1 - Zijin Mining Group Co., Ltd. signed a project cooperation and equity transfer agreement with Jinduicheng Molybdenum Co., Ltd. on January 15, 2026 [1] - The agreement is based on a framework established in a letter of intent signed on August 29, 2025, regarding the integrated development and deep processing of the Shapinggou Molybdenum Mine in Jinzhai County, Anhui Province [1] - Jinduicheng Molybdenum Co., Ltd. and Anhui Jinsan Molybdenum Co., Ltd. will jointly invest to establish a smelting company in the county where Jinsan Molybdenum holds 100% equity of the Shapinggou Mine [1] Group 2 - The registered capital, investment scale, and production capacity of the smelting company will align with the development scale of the Shapinggou Mine to ensure stable synergy [1] - Jinduicheng Molybdenum Co., Ltd. and Jinsan Molybdenum will hold 51% and 49% equity in the smelting company, respectively, with Jinduicheng Molybdenum leading its construction and operation [1] - Zijin Mining agreed to transfer 24% equity of Jinsan Molybdenum to Jinduicheng Molybdenum for a consideration of RMB 173,087 million, resulting in Zijin Mining holding 60% and Jinduicheng Molybdenum holding 34% of Jinsan Molybdenum after the transfer [1]

Core Viewpoint - Zijin Mining announced a partnership with Jinchuan Group to establish a smelting company and transfer equity, aiming to enhance the efficient development of the Shapinggou molybdenum mine [1] Group 1: Partnership Details - On January 15, 2026, Zijin Mining signed a "Project Cooperation and Equity Transfer Agreement" with Jinchuan Group [1] - The partnership includes two main components: smelting cooperation and equity transaction [1] - Zijin Mining will transfer 24% equity of Jinchuan Molybdenum to Jinchuan Group for 173,087 million yuan, resulting in Zijin Mining holding 60% and Jinchuan Group holding 34% of the shares post-transfer [1] Group 2: Financial Terms - The payment for the equity transfer will be made in two installments [1] - If Jinchuan Group fails to invest as agreed, Zijin Mining retains the right to reclaim the equity [1] Group 3: Strategic Implications - This collaboration is expected to facilitate the efficient development of the Shapinggou molybdenum mine [1]

每经AI快讯，1月15日，洛阳钼业（603993）(603993.SH)公告称，洛阳钼业预计2025年度归属于上市公 司股东的净利润为200亿元到208亿元，同比增加47.80%到53.71%。报告期内，公司主要产品量价齐 升，运营成本有效管控，推动业绩同比大幅增长。 ...

洛阳钼业公告，公司预计2025年度实现归属于上市公司股东的净利润为人民币（下同）200亿元到208亿 元，与上年同期（法定披露数据，下同）相比增加64.68亿元到72.68亿元，同比增加47.80%到53.71%。 预计2025年度实现归属于上市公司股东的扣除非经常性损益的净利润为204亿元到212亿元，与上年同期 相比增加72.81亿元到80.81亿元，同比增加55.50%到61.60%。公司2025年业绩同比大幅上升的原因系公 司主要产品量价齐升、运营成本有效管控。 ...