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In the first three quarters of this year, Hanrui Cobalt achieved a revenue of 2.16 billion yuan, a year-on-year increase of 126.54%; Realized a net profit attributable to RMB 700 million, an increase of 124.94% year-on-year. An insider from Hanrui Cobalt Industry stated that our overall profitability and production are very good, but due to fluctuations in cobalt prices, we were unable to meet market expectations, resulting in higher market expectations for our performance.

An insider from Luoyang Molybdenum Industry stated that there is an agreement between the company and the smelter, where the selling price of the products is based on the market price and there is also room for fluctuations. Therefore, market price fluctuations will definitely have a corresponding impact on the company, but we cannot evaluate the magnitude of the impact. Insiders from Huayou Cobalt Industry said that the specific impact still depends on the trend of metal prices and the corresponding sources of raw materials.

At present, domestic cobalt metal is an important source from abroad. The global cobalt mines are mainly concentrated in regions such as Africa and Australia, among which the African country Congo (DRC) accounts for two-thirds of the global cobalt production.

Recently, according to foreign media reports, Congo (DRC) announced cobalt as a "strategic mineral" and raised the tax rate on cobalt to 10%. Analysts point out that this will increase the future production costs of mining companies. In addition, Swiss commodity trader Glencore recently announced that one of its cobalt mines will suspend exports. In recent years, Glencore's cobalt production has consistently ranked first, so some analysts claim that its decision to suspend exports will cause some fluctuations in cobalt prices.

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