CMOC (3993.HK)_ 3Q24 Net Profit -15% QoQ on Lower Copper Price and Sales Volume
2024-10-31 02:40
Flash | 28 Oct 2024 07:56:50 ET │ 12 pages CMOC (3993.HK) 3Q24 Net Profit -15% QoQ on Lower Copper Price and Sales Volume CITI'S TAKE CMOC reported 9M24 net profit at Rmb8.27bn, up 239% YoY, accounting for 71%/69% of Citi full-year forecast/Bloomberg consensus. The 9M24 recurring net profit and EBIT were Rmb8.55bn and Rmb18.49bn, respectively, up 531% YoY and up 171% YoY. Implied 3Q24 EBIT came in at Rmb6.2bn, up 52% YoY but down 24% QoQ, in line with our expectation, mainly due to lower copper and cobalt p ...