Jinduicheng Molybdenum (SH:601958)2024-01-30 07:54Company Overview - Jinmoly Co., Ltd. is a leading supplier of molybdenum products, engaged in the production, sales, research, and trade of molybdenum-related products [1] - The company operates two large open-pit molybdenum mines with significant resource reserves [2] Production and Resource Reserves - Annual production of major molybdenum products includes: - Molybdenum iron: 15,146 tons - Molybdenum: 6,213 tons - Molybdenum powder: 4,947 tons [1] - Resource reserves: - Jinduicheng Molybdenum Mine: 465 million tons, average grade 0.083%, service life 35 years - Ruyang Donggou Molybdenum Mine: 471 million tons, average grade 0.120%, service life 57 years [2] Financial Performance - For the year 2023, the company reported: - Revenue: 11.631 billion yuan, up 22.03% year-on-year - Total profit: 4.101 billion yuan, up 119.39% year-on-year - Net profit attributable to shareholders: 3.126 billion yuan, up 134.18% year-on-year [2] Market Conditions - The domestic and international molybdenum market prices have been favorable, with significant increases in major molybdenum product prices [2] - In January 2023, the cumulative volume of molybdenum iron steel contracts exceeded 10,000 tons for the third consecutive month [3] Dividend Policy - The company maintains a stable profit distribution policy, with cash dividend ratios of 65.21% and 72.52% in the past two years, ranking among the top in the market [2] Research and Development - In 2023, the company implemented 49 research projects with an overall completion rate of 94.8%, and obtained 30 authorized patents [2] - Significant advancements include breakthroughs in the production of high-purity molybdenum powder and the development of molybdenum-nickel alloy pipe products [3] Molybdenum Prices - The average price of molybdenum concentrate in 2023 was 3,879 yuan per ton, an increase of approximately 36.25% compared to 2022 [3] - Molybdenum concentrate prices in the first half of 2023 averaged 4,091 yuan per ton, with a year-on-year increase of 54.73% [3]