CMOC Group Limited (03993) announced a profit forecast with the expected annual net profit attributable to the parent company ranging from 12.8 billion yuan to 14.2 billion yuan, an increase of 55.15% to 72.12% compared to the previous year.

CMOC Group Limited (03993) announced that during the performance forecast period from January 1, 2024 to December 31, 2024, the preliminary estimate by the company's finance department shows that the net profit attributable to the company's shareholders in 2024 is expected to be between RMB 12.8 billion and RMB 14.2 billion. Compared with the same period last year, it will increase by RMB 4.55 billion to RMB 5.95 billion, an increase of 55.15% to 72.12% year-on-year. It is expected that the net profit attributable to the company's shareholders after deducting non-recurring gains and losses in 2024 will be between RMB 12.4 billion and RMB 13.8 billion. Compared with the same period last year, it will increase by RMB 6.167 billion to RMB 7.567 billion, an increase of 98.94% to 121.40% year-on-year. The main reason for the significant year-on-year increase in the company's performance in 2024 is the substantial increase in copper-cobalt production and sales volume of the main products year-on-year, coupled with the obvious effects of the year-on-year increase in copper product prices, cost reduction, and efficiency improvement measures, which have led to the company achieving a year-on-year growth in profit.