According to the Guoxin Securities Research Report, the net profit of Luoyang Molybdenum Industry (603993.SH) increased 36% year-on-year in 2023. Major projects were completed and put into operation, and copper production is expected to reach one million tons in the next 5 years. With the completion and commissioning of the TFM mixed mine project and KFM phase 1 project, the company has entered the production release year since 2023. It is one of the few large copper mining companies in the world to maintain high copper growth. In 2024, the company's copper production will double compared to 2022, and cobalt production will increase 200%. It is expected to become the top 10 copper producers in the world and the world's largest cobalt producer. The company has the world's top copper-cobalt mines. The construction and commissioning of two world-class projects has doubled the company's copper production within two years, has high performance flexibility for copper prices, and maintains a “buy” rating.