CMOC's H1 Performance Preview Shows Significant Increase

Published: Jul 16, 2025 09:19

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On July 14, CMOC released its semi-annual earnings forecast, projecting a net profit attributable to shareholders of between RMB 8.2 billion and RMB 9.1 billion for the first half of 2025, representing an increase of RMB 2.783 billion to RMB 3.683 billion compared to the same period last year, and a year-on-year (YoY) growth of 51.37% to 67.98%. Calculating based on the lower end of the forecast, the company's H1 2025 profit is basically flat with the full-year 2023 profit, reaching 61% of the full-year 2024 profit. The significant increase in performance is attributed to the YoY rise in the prices of major products, copper and cobalt, coupled with the YoY growth in the production and sales of copper products. According to statistics, copper prices showed an upward trend in the first half of this year, with cumulative year-to-date increases in copper prices on major global exchanges ranging from 5% to 20%. During the reporting period, the production of the company's major products continued to grow steadily. Among them, copper production reached 353,570 mt, representing a YoY increase of approximately 13%. Based on the midpoint of the 2025 production guidance, the completion rate was 56%. In addition, the production of cobalt, molybdenum, tungsten, niobium, phosphate fertiliser, and other products exceeded the original plans.

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