YCC(SZ:000878)2023-12-07 10:17Company Overview - Yunnan Copper Industry Co., Ltd. was listed on the Shenzhen Stock Exchange in 1998, primarily engaged in copper exploration, mining, smelting, precious metals, and sulfur chemical production. It is a significant production base for copper, gold, silver, and sulfur chemicals in China [2]. - The company ranks third in the country for cathode copper production capacity at 1.3 million tons and is the leading producer of mineral cathode copper in China [2]. 2023 Financial Performance - For the first three quarters of 2023, the company achieved operating revenue of CNY 110.55 billion, representing a year-on-year increase of 12.75% [3]. - The net profit attributable to shareholders was CNY 1.518 billion, with a year-on-year growth of 2.52% [3]. - Basic earnings per share stood at CNY 0.76, indicating steady operational growth [3]. Production Costs and Strategies - The company has established three major smelting bases in Southwest, Southeast, and Northern China, which enhance production organization and reduce costs through diverse smelting technologies [3]. - Mining costs vary by resource endowment and lifecycle; for instance, the Plang Copper Mine and Dahongshan Copper Mine have relatively low costs, while older mines like Liujhu Copper Mine have higher costs [3]. Production Plans for 2023 - The production plan for 2023 includes: - Self-produced copper concentrate: 63,300 tons - Cathode copper: 1.28 million tons - Gold: 12.2 tons - Silver: 470 tons - Sulfuric acid: 492 million tons [3]. Risk Management and Sales - The company employs a prudent hedging strategy, which has positively contributed to its performance [3]. - Sulfuric acid, a byproduct of copper smelting, has seen a decrease in average sales price compared to last year, with regional price variations noted [3]. Future Developments - The Southwest Copper Industry relocation project is a key initiative for the company's green low-carbon transformation, utilizing advanced smelting technology to enhance resource efficiency and reduce production costs [4]. - The company is committed to transparent communication regarding project progress and will fulfill its information disclosure obligations to investors [4].