YCC(SZ:000878)2023-02-16 10:18Company 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 ranks third in the country for cathode copper production capacity at 1.3 million tons and first in mineral cathode copper production [2]. - In 2022, the company achieved a net profit attributable to shareholders of 1.55 billion to 1.85 billion CNY, representing a year-on-year growth of 139% to 185% [2]. Financial Performance - The net profit excluding non-recurring gains and losses is projected to be between 1.5 billion and 1.83 billion CNY, indicating a growth of 310% to 400% year-on-year [2]. - Basic earnings per share are expected to be between 0.8855 CNY and 1.0569 CNY [3]. Project Developments - The relocation project of the Southwest Copper Industry subsidiary aligns with national carbon neutrality goals and is crucial for the company's green transformation [3]. - The project will utilize advanced copper smelting technology to enhance resource efficiency, reduce production costs, and improve overall competitiveness [3]. Mining Operations - The Diquan Copper Mine has a copper metal reserve of 2.6115 million tons with an average grade of 0.33% [3]. - The mine employs underground mining methods and is recognized as one of the largest and most advanced underground mines in the country [3]. Smelting Business - The company has established three major smelting bases in Southwest, Southeast, and Northern regions, utilizing various smelting technologies to optimize production and reduce costs [3]. - Recent measures to lower costs and improve quality have enhanced the company's overall competitiveness in the smelting sector [4]. Risk Management - The company will continue to implement a prudent hedging strategy to mitigate market and financial risks, supported by a comprehensive futures management system [4]. - The company has established a dedicated futures leadership team to oversee risk control processes [4]. Future Plans - The company aims to focus on acquiring quality resource projects while managing existing mines and smelting plants effectively [4]. - The strategic vision includes becoming a world-class copper company through resource acquisition and cost reduction initiatives [4].