Jiangxi Copper - Stock Analyst Research
| Target Price* | HKD 14.89 |
| Recommendation | ACCUMULATE› ACCUMULATE |
| Market Cap* | bn43.42 |
| Publication Date | 11 Mar 2024 |
*At the time of publication
Jiangxi Copper Company Limited (0358.HK)
Overview
Jiangxi Copper (358.HK) is China’s largest copper cathode producer and supplier of a full
range of copper processing products. The diversified business includes mining development
of copper, gold, silver, lead, zinc, tungsten, rhenium, tellurium and other types products. It
has established mining bases in China, Peru, Kazakhstan, Afghanistan and other countries,
and has four smelting plants in production, five operating mines and eight modern copper
processing plants. In addition, the company owns 44.48% of the shares of the listed
company Shandong Humon Smelting Co., Ltd.
The company’s net profit increased slightly in Q3 yoy
In the first three quarters of 2023 (January to September), the company’s total operating
revenue was 399.56 billion yuan (RMB, the same as below), a year-on-year increase of
8.53%; the total operating cost was 393.48 billion yuan, a year-on-year increase of 8.83%;
operating profit was 6.49 billion Yuan, a year-on-year increase of 4.16%; of which the net
profit attributable to shareholders of the parent company was 4.94 billion yuan, a year-onyear increase of 4.54%. Basic earnings per share was 1.43 yuan, a year-on-year increase of
4.54%. The company’s total operating income in the third quarter was 132.03 billion yuan, a
year-on-year increase of 16.93%; the net profit attributable to shareholders of listed
companies after deducting non-recurring gains and losses was 1.44 billion yuan, a year-onyear increase of 30.03%. The performance mainly due to the relatively active domestic
policies and demand from real estate and new energy sectors are strong, which keeps
copper inventories at a low level and provides certain support for copper prices.
About the author
Margaret Li
Analyst
Research
本科主修市場行銷和英語，並於香港浸會大學獲得經濟學碩士學位。現為輝立証券持牌分析師，主要負責能源和公用事業等板塊的研究。曾在大型銀行、券商和資產管理公司工作，對於期貨和大宗商品衍生品領域擁有銷售、研究分析和市場推廣等工作經驗。 Margaret, a holder of a Bachelor`s degree in Marketing and English and a Master`s degree in Applied Economics from Hong Kong Baptist University, is currently employed as a licensed analyst at Phillip Securities. She specializes in conducting research focusing on the energy and utilities sectors. Prior to her current position, Margaret gained valuable work experience in a large bank, securities firm, and asset management companies. Her expertise lies in sales, research analysis, and marketing within the fields of futures and commodities derivatives.
About the author
Margaret Li
Analyst
Research
本科主修市場行銷和英語，並於香港浸會大學獲得經濟學碩士學位。現為輝立証券持牌分析師，主要負責能源和公用事業等板塊的研究。曾在大型銀行、券商和資產管理公司工作，對於期貨和大宗商品衍生品領域擁有銷售、研究分析和市場推廣等工作經驗。 Margaret, a holder of a Bachelor`s degree in Marketing and English and a Master`s degree in Applied Economics from Hong Kong Baptist University, is currently employed as a licensed analyst at Phillip Securities. She specializes in conducting research focusing on the energy and utilities sectors. Prior to her current position, Margaret gained valuable work experience in a large bank, securities firm, and asset management companies. Her expertise lies in sales, research analysis, and marketing within the fields of futures and commodities derivatives.
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