According to the Wisdom Finance APP, cmoc group limited (03993) rose more than 4%, up 4.65% to HK$6.74 as of the press release, with a turnover of 70.0694 million Hong Kong dollars.

On the news front, cmoc group limited announced its performance for the third quarter of 2024, with revenue of approximately 51.936 billion yuan, a year-on-year increase of 15.53%; net income attributable to shareholders of the listed company was approximately 2.856 billion yuan, a year-on-year increase of 64.12%; and basic earnings per share were 0.14 yuan. HSBC research indicates that cmoc group limited's third-quarter performance meets expectations, with copper production expected to exceed the annual target. However, profit growth is expected to slow down in the next two years, with new expansions expected to support production growth after 2026.

Everbright Securities believes that the company's copper production in 2024 is expected to exceed the guidance in the 2023 annual report. According to the company's 2023 annual report guidance, the 2024 copper production guidance is 0.52-0.57 million tons, with a midpoint of 0.545 million tons. The company achieved copper production of 0.147 million tons, 0.166 million tons, and 0.162 million tons in Q1, Q2, and Q3 of 2024, respectively. The actual production for the full year is expected to exceed the annual report guidance, mainly due to TFM and KFM copper mines achieving higher production levels.