Zhongyuan Securities released a research report on April 21 stating that it gave Luoyang Molybdenum Industry (603993.SH) an increase in its holdings. The main reasons for the rating include: 1) the company's business performance reached a record high in 2023; 2) the company achieved a year-on-year increase in production of all products in 2023, copper, cobalt, niobium and phosphorus production reached a record high, and achieved a complete layout of copper-cobalt-nickel-lithium new energy metals; 3) the company properly resolved TFM equity issues to lay a solid foundation for long-term development; 4) the company announced the 2024 major product output and physical trade volume guidelines. The company is expected to accelerate the transformation of resource advantages into production capacity advantages and greatly enhance profitability. (Mainichi Keizai Shimbun)