CMOC Group Limited (03993) announced that it is expected to achieve net income attributable to company shareholders of RMB 5.189 billion to 5.735 billion in the first half of 2024, a year-on-year increase of RMB 4.486 billion to 5.032 billion, an increase of 638% to 716% compared with the same period last year.
It is expected to achieve net income attributable to company shareholders after deducting non-recurring gains and losses of RMB 5.375 billion to 5.941 billion in the first half of 2024, an increase of RMB 5.155 billion to 5.721 billion year-on-year, a increase of 2343% to 2600% compared with the same period last year.
In the first half of 2024, the company's main copper-cobalt ore products production increased, and the comprehensive scale effect gradually appeared: copper metal production was 0.3138 million tons, a year-on-year increase of 101%; cobalt metal production was 0.054 million tons, a year-on-year increase of 178%.
The reason for the significant year-on-year increase in the company's performance in the first half of 2024 is the significant growth in the sales volume of main products copper-cobalt, cost optimization, technical improvement and other measures. Meanwhile, the copper market price is on the rise in 2024, which leads to the improvement of performance.