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Jiangxi Copper's Q1 Profit Jumps 14%
JIANGXI COPPER: 2024 Annual Report
Major bank rating丨Bank of America: Raises Jiangxi Copper Target Price to 10 Hong Kong Dollars, increases this year's net profit after tax forecast.
Bank of America Securities released a research report indicating that JIANGXI COPPER's net profit for the first quarter of this year increased by 14% year-on-year, but decreased by 1% quarter-on-quarter, amounting to 1.95 billion yuan, exceeding expectations, while revenue decreased by 9% year-on-year to 112 billion yuan. The bank believes the first quarter results benefited from high processing fees (TC), favorable by-product prices, and potential sales growth. The company forecasts its copper cathode production at 2.37 million tons, gold production at 139 tons, silver production at 1,243 tons, and copper sulfate production at 6.53 million tons this year. The bank stated that based on the rising prices of copper sulfate, it will adjust the forecast for after-tax net profit for the H shares this year.
Jiangxi Copper 1Q Rev CNY111.61B Vs. CNY122.52B >0358.HK
Jiangxi Copper 1Q Net CNY1.95B Vs. Net CNY1.71B >0358.HK
Jiangxi Copper: Jiangxi Copper Co., Ltd. Report for the first quarter of 2025
