Summary by Futu AI
On July 12th, 2024, CMOC released a positive profit forecast, and it is expected that the net profit attributable to the company's shareholders in the first half of 2024 will reach RMB 5.189 billion to RMB 5.735 billion, an increase of 638% -716% year-on-year. The net profit after deducting non-recurring gains and losses is expected to be RMB 5.375 billion to RMB 5.941 billion, a significant increase of 2,343% -2,600% year-on-year. In addition, the production of the company's main copper-cobalt ore products increased significantly, with copper metal production increasing by 101% year-on-year, and cobalt metal production also increasing. The performance improvement is mainly due to the significant increase in sales volume, cost optimization, technological improvements, and the strong price of copper in the market. The company will disclose detailed financial data in the mid-2024 report.