2024-09-19 07:41Group 1: Exploration and Mining Progress - The company has made significant progress in exploration activities, including 6,200 meters of diamond drilling at the TFM copper-cobalt mine and successful geological exploration at Big Pumpi, TENK, and FGME88 mines [1] - KFM copper-cobalt mine has completed 19 drilling holes with a total depth of 6,017 meters, showing good results in deep sulfide exploration and peripheral geological prospecting [2] Group 2: Financial Performance - The company achieved a net operating cash flow of 10.8 billion RMB in the first half of the year, an increase of 2.02 billion RMB year-on-year [2] - Free cash flow reached 6.81 billion RMB, up by 4.63 billion RMB, representing a growth of 213% [2] - The company commits to a cash dividend of over 40% of the net profit attributable to shareholders for the years 2024-2026 [4] Group 3: Production Goals - The company aims to produce 800,000 to 1,000,000 tons of copper metal annually by 2028, with TFM and KFM mines having production capacities of 450,000 tons and 150,000 tons, respectively [3] - In the first half of the year, the company produced 313,800 tons of copper, with ongoing efforts to enhance production at TFM and KFM [3] Group 4: Dividend and Shareholder Returns - The company plans to distribute a cash dividend of 1.5425 RMB per 10 shares for the 2023 fiscal year, with an estimated total payout of approximately 3.3 billion RMB [3] - The company emphasizes the importance of shareholder returns and plans to maintain a dividend payout ratio exceeding 40% of net profit for the next three years [4] Group 5: Future Development Plans - The company has designated 2024 as a "Lean Year," focusing on quality improvement, cost reduction, and efficiency enhancement across various sectors [4] - Future capital expenditures will primarily target the expansion of TFM and KFM projects [2]