Luoyang Molybdenum has successfully acquired the Cangrejos gold mine in Ecuador as part of its strategic initiative to diversify resources and enhance its market position.

Target Company Overview

Luoyang Molybdenum Co., Ltd. (referred to as 'Luoyang Molybdenum') has reported exceptional performance for the first half of 2025, achieving revenues of 94.773 billion CNY and a net profit attributable to its parent company of 8.671 billion CNY, representing a year-on-year increase of 60.07%. This performance marks a historical high for the same period. The company has also excelled in debt resolution, reducing its debt-to-asset ratio to 50.15%, a notable decrease of 9.01 percentage points year-on-year. Additionally, Luoyang Molybdenum recorded an operating cash flow of 12.009 billion CNY, an 11.4% increase from the previous year.

After implementing an organizational management upgrade in April of this year, Luoyang Molybdenum completed its acquisition of the Cangrejos Project in Ecuador, further diversifying its asset portfolio with valuable gold resources. The company’s strategic objectives remain focused on achieving significant transformation while expanding its multinational, multi-mineral, and multi-asset synergy.

Industry Overview in China

The mining industry in China has been making significant strides, led by diversified operations that encompass both mining and trading. As one of