Luoyang Molybdenum Industry's first-half net profit increased by 139% compared with the same period last year.

According to the semi-annual report released by Luoyang Molybdenum Industry, during the reporting period, affected by the large increase in market prices of cobalt, copper, molybdenum, tungsten and phosphorus and the growth of the scale of basic metal trade business, the income, cost and gross profit of the main business all increased significantly compared with the same period last year. During the reporting period, the company realized main business income of 84.561 billion yuan, an increase of 38.004 billion yuan (or 81.63%) over the same period last year; net profit attributable to shareholders of listed companies was 2.409 billion yuan, up 139% year-on-year; total EBITDA was 7.1 billion yuan, an increase of 120% over the same period last year; gross profit of main business was 8.976 billion yuan, an increase of 8.326 billion yuan (or 1280.92%) over the same period last year.

During the reporting period, the company's key projects advanced steadily and the potential of endogenous growth was brought into full play. The company's key projects for increasing production and efficiency in Congo (gold) (10K project) and the Australian copper and gold mine expansion project have been officially put into operation; at the same time, the feasibility study of the TFM copper-cobalt mine mixed project has been completed and the project is progressing steadily; the KFM copper-cobalt mine project is also actively carrying out feasibility study and analysis.

Many measures will be taken to improve the operation level, and the cost reduction and efficiency increase will continue to be deepened. The company's mining sector production and operating costs to achieve the same caliber year-on-year reduction of more than 360 million yuan, of which the Democratic Republic of the Congo (DRC) copper and cobalt plate to achieve production and operating cash cost reduction of about 30 million US dollars.

The mining and the trade plate cooperate effectively, and the trade plate continues to make efforts. With the further integration of the mining sector and the trade business plate, Exxon gave full play to its anti-risk ability, achieved good results, and achieved a net profit of 369 million yuan.

The company's main products in the first half of the year are as follows: