Jinduicheng Molybdenum (SH:601958)2023-10-31 07:44Group 1: Company Overview - Jinmoly Co., Ltd. is a leading supplier of molybdenum products, engaged in the production, sales, research, and trading of molybdenum-related products [1] - The company operates two large open-pit molybdenum mines, with significant reserves and high-quality products widely used in various industries [1] Group 2: Production and Resource Reserves - In 2022, the company produced a total of 15,146 tons of molybdenum iron, 6,213 tons of ammonium molybdate, and 4,947 tons of molybdenum powder [1] - The company has a total ore resource of 465 million tons with an average grade of 0.083% and a service life of 35 years; the Ruyuan Donggou molybdenum mine has 471 million tons with an average grade of 0.120% and a service life of 57 years [2] Group 3: Financial Performance - For the first three quarters of 2023, the company achieved an operating income of 8.853 billion yuan, a year-on-year increase of 25.29%, and a net profit attributable to shareholders of 2.337 billion yuan, up 140.11% [2] - In Q3 2023, the company reported an operating income of 3.343 billion yuan, a year-on-year increase of 54.13%, and a net profit of 844 million yuan, up 173.81% [2] Group 4: Dividend Policy - The company maintains a stable profit distribution policy, with a cash dividend of 968 million yuan for the 2022 fiscal year, representing a payout ratio of 72.52% [2] - Over the past three years, the cash dividend ratios were 443.19%, 65.21%, and 72.52%, ranking among the top in the market [2] Group 5: Technological Development - The company emphasizes innovation and has invested 13.462 million yuan in R&D in the first half of the year [3] - Key projects include the establishment of a molybdenum industry innovation center and advancements in production lines for various molybdenum products [3] Group 6: Environmental and Green Mining Initiatives - The company adheres to a green development approach, integrating environmental protection into all aspects of its operations [3] - It has received recognition as a "National Green Mine" and a "Demonstration Base for Comprehensive Utilization of Mineral Resources" [3] Group 7: Recent Molybdenum Price Trends - In October, molybdenum prices fluctuated, with recent prices for molybdenum iron ranging from 3,100 to 3,200 yuan per ton [3]