Jinduicheng Molybdenum (601958)2023-09-27 02:05Company Overview - Company is a leading molybdenum product supplier, engaged in production, sales, R&D, and trade of molybdenum-related products [2] - Main products include molybdenum furnace charge, molybdenum chemicals, and molybdenum metal deep processing, widely used in steel smelting, petrochemicals, machinery manufacturing, aerospace, electronics, and biomedicine [2] Production and Resource Reserves - Operates two large open-pit molybdenum mines [2] - 2022 production: - Ferromolybdenum: 15,146 tons [2] - Ammonium molybdate: 6,213 tons [2] - Molybdenum powder: 4,947 tons [2] - Jinduicheng Molybdenum Mine: - Reserves: 465 million tons [3] - Average grade: 0.083% [3] - Service life: 35 years [3] - Ruyang Donggou Molybdenum Mine: - Reserves: 471 million tons [3] - Average grade: 0.120% [3] - Service life: 57 years [3] Financial Performance - H1 2023 revenue: 55.10 billion yuan, 52.53% of annual target, up 12.52% YoY [3] - H1 2023 profit: 19.58 billion yuan, up 103.28% YoY [3] - H1 2023 net profit: 14.93 billion yuan, up 124.49% YoY [3] - 2022 dividend: 968 million yuan, payout ratio of 72.52% [3] - Recent three-year dividend payout ratios: 443.19%, 65.21%, 72.52% [3] R&D and Technological Progress - H1 2023 R&D investment: 134.62 million yuan [4] - Key technological breakthroughs: 4N molybdenum powder, low-oxygen molybdenum powder, alloy molybdenum products, and rolled thin plates [4] - Established molybdenum industry innovation center and "Qin Chuangyuan" platform [4] Corporate Governance and Market Value Enhancement - Optimized board operation mechanism [4] - Improved information disclosure management [4] - Enhanced investor relations through 4R work quality improvement [4] - Fulfilled social responsibilities in environmental protection, rural revitalization, and public welfare [4] Molybdenum Market - Current molybdenum concentrate (45-50% grade) price: 4,200-4,300 yuan/ton [5] - Current ferromolybdenum price: 272,000-274,000 yuan/ton [5]