CMOC Group Limited — Interim / Quarterly Report 2017

Oct 29, 2017

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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(Stock Code: 03993)

2017 THIRD QUARTERLY FINANCIAL REPORT

The board of directors (the “ Board ”) of China Molybdenum Co., Ltd. (the “ Company ” or “ CMOC ”) is pleased to announce the unaudited results of the Company and its subsidiaries (collectively the “ Group ”) prepared in accordance with the Accounting Standards for Business Enterprises of the People’s Republic of China (“ ASBEPRC ”) for the third quarter ended 30 September 2017. This announcement is made pursuant to Rules 13.09(2) and 13.10B of the Rules Governing the Listing of Securities (the “ Listing Rules ”) on The Stock Exchange of Hong Kong Limited (the “ Hong Kong Stock Exchange* ”) and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).

• For identification purposes only

* This report was prepared in both Chinese and English versions. Where there is discrepancy between the Chinese and English versions, the Chinese version shall prevail.

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Contents

I. IMPORTANT NOTICE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 II. BASIC INFORMATION OF THE COMPANY . . . . . . . . . . . . . . . . . . . . . . 4 III. SIGNIFICANT EVENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 IV. FINANCIAL STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14

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I. IMPORTANT NOTICE

• 1.1 The Board, Supervisory committee, Directors and senior management of the Company warrant the truthfulness, accuracy and completeness of the contents set out in this quarterly report, and that it contains no false representation, misleading statement nor material omission, and assume several and joint legal responsibilities.

• 1.2 All the directors of the Company attended the board meeting to consider the quarterly report.

• 1.3 Li Chaochun, the Legal Representative of the Company, Gu Meifeng, the Head of accounting affairs and Zhang Hongwei, the Head of accounting department, warrant the truthfulness, accuracy and completeness of the financial statements in this quarterly report.

• 1.4 The third quarter report of the Company is unaudited.

– 3 –

II. BASIC INFORMATION OF THE COMPANY

2.1 Key Financial Data

Unit: million Yuan Currency: RMB

			Increase/decrease
			at the end
			of the reporting
			period as compared
	At the end of the	At the end of	with the end
	reporting period	last year	of last year
			(%)
Total assets	100,207.16	88,146.84	13.68
Net assets attributable to shareholders of the
Company	37,278.51	18,738.06	98.95
			Increase/decrease
		During the same	for the reporting
	During the	reporting period	period as compared
	reporting period	of last year	with the same
	(January–September)	(January–September)	period last year
			(%)
Net cash flow from operating activities	5,666.46	865.56	554.66

– 4 –

Unit: million Yuan Currency: RMB

			Increase/decrease
		During the same	for the reporting
	During the	reporting period of	period as compared
	reporting period	last year	with the same
	(January–September)	(January–September)	period last year
			(%)
Operating income	17,706.53	3,496.04	406.47
Net profit attributable to shareholders of the
Company	1,604.54	583.50	174.98
Net profit after deduction of non-recurring profits or
losses attributable to shareholders of the Company	1,956.40	660.73	196.10
The weighted average return on net assets_(%)_	3.77	3.30	increased by 0.47
			percentage point
Basic earnings per share_(Yuan/Share)_	0.09	0.0346	160.12
Diluted earnings per share_(Yuan/Share)_	N/A	N/A	N/A

– 5 –

Items and amounts for non-recurring profits and losses

Unit: million Yuan Currency: RMB

Item Profit or loss from disposal of non-current assets Government grants recognized in profit or loss (other than grants which are closely related to the Company’s normal operating business and are either in fixed amounts or determined under quantitative methods in accordance with the national standards) Profit or loss on changes in the fair value of held-for-trading financial assets and held-for-trading financial liabilities and investment income on disposal of held-for- trading financial assets, held-for-trading financial liabilities and available-for-sale financial assets, other than those used in the effective hedging activities relating to normal operating business of the Company Other non-operating income or expenses other than the above Effect of minority interests (after tax) Effect of income taxes Total	Amount for the period (July–September) 4.12 14.25 -15.52 -26.97 -0.05 -3.70 -27.88	Amount from the beginning of the year to the end of the reporting period (January–September) Explanation -0.50 19.63 -312.13 Mainly due to the loss in changes in fair value of the contingent consideration generated from the recognition of the acquisition of copper and cobalt business in Congo for the current period -51.59 -0.06 -7.21 -351.86

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• 2.2 Table showing total number of shareholders, shareholdings of top 10 shareholders and top 10 holders of tradable shares (or shareholders not subject to trading moratorium) as of the end of the reporting period

Total number of shareholders (shareholder) 271,587

Shareholding of the top 10 shareholders

Unit: million Shares

	Number of
	shareholding
	as at the end		Number of
	of the period	Percentage	shares held
	(A shares/	of	with selling	Subject to pledge		Nature of
Name of shareholders (full name)	H shares)	shareholding	restrictions	or moratorium		shareholders
		(%)		Status of shares	Number
Cathay Fortune Corporation (鴻商產業	5,333.22	24.69	0	Pledged	523.82	Domestic
控股集團有限公司)	(A shares &					non-state-owned
	H shares)					legal corporation
Luoyang Mining Group Co., Ltd. (洛陽	5,329.78	24.68	0	N/A	N/A	State-owned legal
礦業集團有限公司)	(A shares)					corporation
HKSCC NOMINEES LIMITED (香港	3,577.12	16.56	0	N/A	N/A	Unknown
中央結算(代理人)有限公司)	(H shares)
Jianxin Fund – Industrial and	777.49	3.60	777.49	N/A	N/A	Unknown
Commercial Bank of China – Shaanxi	(A shares)
Province International Trust – Shan
Guotou • Jinyu No. 6 Directional
Investment Collection Fund Trust
Plan (建信基金－工商銀行－陝西省
國際信託－陝國投•金玉6號定向投
資集合資金信託計劃)
China Structural Reform Fund	739.71	3.42	739.71	N/A	N/A	State-owned
Corporation Limited (中國國有企業	(A shares)					legal corporation
結構調整基金股份有限公司)
Beixin Ruifeng Fund – Bank of	480.63	2.23	480.63	N/A	N/A	Unknown
Nanjing – Changan International Trust	(A shares)
– Changan Trust • Ruihua SAIC set
up the collection of Funds Trust Plan*
(北信瑞豐基金－南京銀行－長安國
際信託－長安信託•瑞華上汽定增集
合資金信託計劃)
Minsheng Bank Fund – Bank of	471.73	2.18	471.73	N/A	N/A	Unknown
Ningbo – Jiaxing Minrui Investment	(A shares)
Partnership (Limited Partnership)* (民
生加銀基金－寧波銀行－嘉興民琉
投資合夥企業(有限合夥))

– 7 –

Unit: million Shares

	Number of
	shareholding
	as at the end		Number of
	of the period	Percentage	shares held
	(A shares/	of	with selling	Subject to pledge		Nature of
Name of shareholders (full name)	H shares)	shareholding	restrictions	or moratorium		shareholders
		(%)		Status of shares	Number
Beixin Ruifeng Fund – China Merchants	471.20	2.18	471.20	N/A	N/A	Unknown
Bank – China Resources Shenguo	(A shares)
Trust – China Resources Trust • Jing
Rui 7 Single Trust Fund* (北信瑞
豐基金－招商銀行－華潤深國投信
託－華潤信託•景睿7號單一資金信
託)
TEDA Manulife Fund – Minsheng	471.20	2.18	471.20	N/A	N/A	Unknown
Bank – Changan International Trust –	(A shares)
Changan Trust – Minsheng Ding Zeng
1 Single Trust Fund* (泰達宏利基
金－民生銀行－長安國際信託－長
安信託－民生定增1號單一資金信託)
China Securities Finance Corporation	186.70	0.86	0	N/A	N/A	State-owned
Limited (中國證券金融股份有限公	(A shares)					legal corporation
司)

Shareholding of the top 10 shareholders not subject to trading moratorium

	Number of
	tradable shares
	not subject
	to trading
Name of shareholders	moratorium	Types
	(million shares)
Cathay Fortune Corporation	5,333.22	RMB-denominated
(鴻商產業控股集團有限公司)		ordinary shares
Luoyang Mining Group Co., Ltd.	5,329.78	RMB-denominated
(洛陽礦業集團有限公司)		ordinary shares
HKSCC NOMINEES LIMITED	3,577.12	Overseas listed foreign-
(香港中央結算(代理人)有限公司)		invested shares
China Securities Finance Corporation	186.70	RMB-denominated
Limited (中國證券金融股份有限公司)		ordinary shares
Central Huijin Asset Management Ltd.	64.24	RMB-denominated
(中央匯金資產管理有限責任公司)		ordinary shares
Hong Kong Securities Clearing Company	29.90	RMB-denominated
Limited (香港中央結算有限公司)		ordinary shares

– 8 –

	Number of
	tradable shares
	not subject
	to trading
Name of shareholders	moratorium	Types
	(million shares)
Abu Dhabi Investment Authority	27.70	RMB-denominated
(阿布達比投資局)		ordinary shares
Industrial and Commercial Bank of China	27.00	RMB-denominated
Limited – Lion Flexible Allocation		ordinary shares
Hybrid Securities Investment Fund (中
國工商銀行股份有限公司－諾安靈活
配置混合型證券投資基金)
NSSF Combination 414	18.00	RMB-denominated
(全國社保基金四一四組合)		ordinary shares
Shi Guihua (施桂花)	15.32	RMB-denominated
		ordinary shares

Explanation Cathay Fortune Investment Limited, a wholly owned subsidiary in Hong Kong of Cathay Fortune Corporation (鴻商產業控股集團有限公司) held 303 million H shares of the Company, which were registered under HKSCC NOMINEES LIMITED (香 港中央結算(代理人)有限公司). After the merger, Cathay Fortune Corporation, which holds a total of 5,333.22 million shares of the Company, accounting for 24.69% of the shareholding, is the controlling shareholder of the Company.

III. SIGNIFICANT EVENTS

• 3.1 Particulars of and reasons for material changes in major accounting items and financial indicators of the Company

(1) Items in Balance Sheets

Unit: million Yuan Currency: RMB

	30 September	31 December	Increase/
Item	2017	2016	decrease	Reasons of changes
			(%)
Bank balances and cash	25,443.43	9,970.22	155.19	Completion of the non-public
				issuance of A shares
Held-for-trading	36.09	55.60	-35.09	Changes in fair value of forward
financial assets				foreign exchange contracts

– 9 –

	30 September	31 December	Increase/
Item	2017	2016	decrease	Reasons of changes
			(%)
Notes receivable	1,541.11	950.86	62.07	Increase in business scope through
				mergers and acquisitions (“M&A”)
				and increase in sales price
Accounts receivable	2,552.30	1,461.81	74.60	Increase in business scope through
				M&A and increase in sales price
Prepayments	459.80	295.57	55.56	Increase in business scope through
				M&A
Interest receivable	167.80	40.49	314.39	Increase in deposits after the capital
				raised under the non-public issuance
				of shares is received
Other current assets	1,775.03	798.59	122.27	Increase in time deposits due
				within a year and held-to-maturity
				investments
Other non-current assets	3,264.45	5,750.40	-43.23	Maturity of wealth management
				products and time deposits
Notes payable	10.00	660.00	-98.48	Repayment of notes due
Receipts in advance	219.86	51.87	323.90	Increase in business scope through
				M&A and increase in product price
Taxes payable	1,309.98	57.86	2,164.00	Increase in business scope through
				M&A and increase in product price
Other payables	970.92	1,416.78	-31.47	Payment of compensation payable
				to third parties for the current period
Other current liabilities	197.48	2,708.90	-92.71	Repayment of ultra short-term
				financing bonds due
Other non-current liabilities	3,571.81	638.44	459.46	Long-term payment obligation
				arising from the recognition
				of the additional income from
				the 24% minority interest in
				Tenke Fungurume Mining S.A.
				substantially owned by the
				Company for current period
Capital reserve	27,636.53	10,720.31	157.80	Premium arising from the non-
				public issuance of A shares
Special reserve	0.94	8.57	-89.08	Utilization of safety production
				funds
Other comprehensive	-41.18	282.85	-114.56	Changes in foreign exchange rate
income

– 10 –

(2) Items in Income Statements

Unit: million Yuan Currency: RMB

	January to	January to	Increase/
Item	September 2017	September 2016	decrease	Reasons of changes
			(%)
Operating income	17,706.53	3,496.04	406.47	Increase in business scope
				through M&A
Operating costs	11,450.15	2,079.00	450.75	Increase in business scope
				through M&A
Selling expenses	157.13	55.98	180.69	Increase in business scope
				through M&A
Administrative	761.49	276.60	175.30	Increase in business scope
expenses				through M&A
Impairment losses	8.75	255.14	-96.57	Decrease in the provision
of assets				for asset impairment loss
				as compared with the
				corresponding period of last
				year
Net gains from	-349.79	52.53	-765.92	Provision for contingent
changes in fair				consideration relating to
value				cobalt when carrying out
				M&A as a result of an
				increase in cobalt price
Investment income	70.87	155.54	-54.44	Decrease in gains on wealth
				management business of
				banks
Financial expenses	1,371.84	163.45	739.28%	Exchange losses of
				RMB408.41 million
Income tax	1,132.48	174.33	549.63	Increase in business scope
				through M&A and increase in
				profits due to price increase

– 11 –

(3) Items in Cash Flow Statements

Unit: million Yuan Currency: RMB

			Amount
	January to	January to	increased/
Item	September 2017	September 2016	decreased	Reasons of changes
Net cash flow from	5,666.46	865.56	4,800.90	Increase in business scope
operating activities				through M&A and increase
				in prices of major products
Net cash flow from	-122,441.07	-10,427.39	-2,013.67	Payment of consideration for
investing activities				the M&A of niobium and
				phosphates business in
				Brazil for the same period
Net cash flow from	17,268.25	12,109.68	5,158.56	Decrease in financing
financing activities				activities for the current
				period as compared with
				the corresponding period
				of last year

(4) Output and Cost of Major Products

• ① Molybdenum sector

During the reporting period, the Company realized a production volume of molybdenum concentrates (with metal equivalents of 100% MO metal) of 12,192 tonnes and the unit cash production cost was RMB54,290/tonne.

• ② Tungsten sector

During the reporting period, the Company realized a production volume of tungsten concentrates (with metal equivalents of 100% WO3) of 8,493 tonnes (excluding Luoyang Yulu Mining Co., Ltd.) and the unit cash production cost was RMB16,577/tonne.

③ Copper and cobalt sector

During the reporting period, when calculated based on 80% of equity interests, Northparkes Copper-gold mine realized a production volume of available-for-sale copper metal of 27,544 tonnes, and C1 cash cost of US$0.92 per pound, and it realized a production volume of gold of 23,336 ounces for sale based on 80% of equity interests.

– 12 –

During the reporting period, when calculated based on 100% of equity interests, Tenke Funguraume Copper/Cobalt Mine realized a production volume of 159,615 tonnes of copper metal and C1 cash cost of US$0.24 per pound, and it realized a production volume of 11,575 tonnes of cobalt metal based on 100% of equity interests.

• ④ Niobium and phosphate sector

During the reporting period, Brazil realized a production volume of phosphate fertilizer (high analysis fertilizer and low analysis fertilizer) of 854,114 tonnes and niobium metal of 6,318 tonnes.

(5) Completion of the Non-Public Issuance of A Shares

On 23 June 2017, the Company received the “Approval in Relation to the Non-Public Issuance of Shares by China Molybdenum Co., Ltd.” (Zheng Jian Xu Ke No. [2017] 918) from the China Securities Regulatory Commission that the Company was approved to issue no more than 5,769,230,769 new A shares.

On 18 July 2017, the 8 target subscribers of the Company for the nonpublic issuance remitted all subscription payments in full to the account designated by the sponsor. Relevant payments were verified in the Capital Verification Report issued by the Deloitte Touche Tohmatsu Certified Public Accountants LLP (Special General Partnership). In fact, the Company issued 4,712,041,884 A Shares at RMB3.82 per share, and the total subscription payments made by the target subscribers for the non-public issuance was RMB17,999,999,996.88.

On 20 July 2017, as verified by the “Capital Verification Report on the Increase in Registered Capital and Share Capital of China Molybdenum Co., Ltd. upon its non-public issuance of RMB ordinary shares (A Shares)” (De Shi Bao (Yan) Zi (17) No. 00317) issued by Deloitte Touche Tohmatsu Certified Public Accountants LLP (Special General Partnership), net proceeds from the issuance was RMB17,858,632,663.30 after deducting issuance fees of RMB141,367,333.58 from the total proceeds. Of which: RMB942,408,376.80 was included in the share capital, and RMB16,916,224,286.50 was included in the capital reserves.

On 24 July 2017, the Company completed the registration and custody procedures with the Shanghai Branch of China Securities Depository and Clearing Company Limited for the newly-increased A shares, and its share capital increased from 16,887,198,699 shares to 21,599,240,583 shares.

– 13 –

For details, please refer to the relevant announcements published by the Company on the websites of the Shanghai Stock Exchange (www.sse.com.cn), the Hong Kong Stock Exchange (www.hkexnews.hk) and the Company (www.chinamoly.com).

• 3.2 The warning and explanation in the forecast of the possible aggregate net profits from the beginning of the year to the end of the next reporting period becoming a loss or significant changes over the corresponding period of the previous year

The Company completed two significant overseas merger and acquisition projects of niobium and phosphates in Brazil and copper and cobalt in the Democratic Republic of the Congo in the fourth quarter of 2016, and as the Company has benefited from the variable income from the 24% minority interest in Tenke Fungurume Mining S.A. since 20 April 2017, affected by factors such as the increase in the scope of merger and the year-on-year increase in the market prices of relevant products, it is expected that the annual accumulated net profit will have a substantial increase as compared with last year.

IV. FINANCIAL STATEMENTS

Consolidated Balance Sheet

Unit: million Yuan Currency: RMB

Item Current Assets: Bank balances and cash Financial assets at fair value through profit or loss Notes receivable Accounts receivable Prepayments Interest receivable Other receivables Inventories Other current assets Total Current Assets	Balance at the end of the period 25,443.43 36.09 1,541.11 2,552.30 459.80 167.80 1,422.29 5,394.60 1,775.03 38,792.44	Balance at the beginning of the period (1 January 2017) 9,970.22 55.60 950.86 1,461.81 295.57 40.49 1,147.04 5,082.77 798.59 19,802.96

– 14 –

Unit: million Yuan Currency: RMB

Item Non-current Assets: Available-for-sale financial assets Long-term equity investments Fixed assets Construction in progress Inventories Intangible assets Goodwill Long-term deferred expenses Deferred income tax assets Other non-current assets Total Non-current Assets TOTAL ASSETS Current Liabilities: Short-term borrowings Financial liabilities at fair value through profit or loss Notes payable Accounts payable Receipts in advance Employee benefits payable Taxes payable Interest payable Dividends payable Other payables Non-current liabilities due within one year Other current liabilities Total Current Liabilities	Balance at the end of the period 2,975.02 1,139.42 24,922.02 850.49 4,356.16 22,345.78 1,066.75 101.87 392.75 3,264.45 61,414.72 100,207.16 3,493.21 3,238.85 10.00 891.11 219.86 414.13 1,309.98 238.44 27.89 970.92 2,241.57 197.48 13,253.45	Balance at the beginning of the period (1 January 2017) 3,000.60 1,191.50 27,272.92 695.36 4,269.62 24,501.31 1,114.80 115.25 432.12 5,750.40 68,343.88 88,146.84 4,372.43 2,821.44 660.00 741.51 51.87 354.82 57.86 183.68 27.89 1,416.78 2,584.50 2,708.90 15,981.67

– 15 –

Unit: million Yuan Currency: RMB

Item Non-current Liabilities: Long-term borrowings Bonds payable Provisions for liabilities Deferred income tax liabilities Other non-current liabilities Total Non-current Liabilities TOTAL LIABILITIES Owners’ Equity: Share capital Capital reserve Other comprehensive income Special reserve Surplus reserve Undistributed profits Total equity attributable to the owners of the parent company Minority interests Total Owners’ Equity TOTAL LIABILITIES AND OWNERS’ EQUITY	Balance at the end of the period 25,209.25 2,000.00 1,997.90 9,291.76 3,571.81 42,070.71 55,324.16 4,319.85 27,636.53 -41.18 0.94 840.10 4,522.28 37,278.51 7,604.49 44,883.00 100,207.16	Balance at the beginning of the period (1 January 2017) 23,376.88 2,000.00 1,757.79 10,055.13 638.44 37,828.24 53,809.91 3,377.44 10,720.31 282.85 8.57 840.10 3,508.79 18,738.06 15,598.87 34,336.93 88,146.84

– 16 –

Balance Sheet of the Parent Company

Unit: million Yuan Currency: RMB

Item Current Assets: Bank balances and cash Financial assets at fair value through profit or loss Notes receivable Accounts receivable Prepayments Interest receivable Dividends receivable Other receivables Inventories Other current assets Total Current Assets Non-current Assets: Available-for-sale financial assets Long-term equity investments Fixed assets Construction in progress Intangible assets Long-term deferred expenses Other non-current assets Total Non-current Assets TOTAL ASSETS	Balance at the end of the period 18,045.61 36.09 1,522.55 782.08 36.89 283.01 44.01 1,615.43 169.12 1,452.22 23,987.02 200.00 20,638.59 1,419.09 80.14 414.43 137.99 968.99 23,859.24 47,846.26	Balance at the beginning of the period (1 January 2017) 5,835.88 55.60 921.08 743.02 25.79 190.41 44.01 5,601.45 179.39 384.06 13,980.68 200.00 16,919.84 1,467.82 50.16 432.04 141.87 2,544.61 21,756.34 35,737.02

– 17 –

Unit: million Yuan Currency: RMB

Item Current Liabilities: Short-term borrowings Financial liabilities at fair value through profit or loss Notes payable Accounts payable Receipts in advance Employee benefits payable Taxes payable Interest payable Other payables Non-current liabilities due within one year Other current liabilities Total Current Liabilities Non-current Liabilities: Long-term borrowings Bonds payable Provisions for liabilities Deferred income tax liabilities Other non-current liabilities Total Non-current Liabilities TOTAL LIABILITIES Owners’ Equity: Share capital Capital reserve Special reserve Surplus reserve Undistributed profits Total Owners’ Equity TOTAL LIABILITIES AND OWNERS’ EQUITY	Balance at the end of the period 2,635.00 3,004.40 – 134.33 0.29 33.18 43.98 70.27 769.22 923.58 171.86 7,786.10 2,236.60 2,000.00 47.57 63.66 344.01 4,691.84 12,477.94 4,319.85 27,636.53 0.26 840.10 2,571.58 35,368.32 47,846.26	Balance at the beginning of the period (1 January 2017) 3,956.21 2,775.84 260.00 107.50 0.21 47.99 -34.77 139.25 708.17 2,129.59 2,793.80 12,883.78 3,078.31 2,000.00 47.57 15.14 344.30 5,485.32 18,369.10 3,377.44 10,720.31 7.85 840.10 2,422.23 17,367.92 35,737.02

– 18 –

Consolidated Income Statement

Unit: million Yuan Currency: RMB

					Amount from
					the beginning
					of the year to
					the end of the
			Amount for	Amount for	reporting	Amount for the
			the period	the prior year	period	prior year period
			(July to	period (July to	(January to	(January to
Item			September)	September)	September)	September)
I.	Total operating income		6,051.59	1,236.18	17,706.53	3,496.04
	Including: Operating income		6,051.59	1,236.18	17,706.53	3,496.04
II.	Total operating cost		4,720.92	1,137.39	13,981.54	2,959.86
	Including: Operating costs		3,928.56	671.06	11,450.15	2,079.00
		Taxes and surcharges	89.56	44.26	232.18	129.68
		Selling expenses	55.94	18.64	157.13	55.98
		Administrative expenses	298.09	95.37	761.49	276.60
		Financial expenses	345.70	74.46	1,371.84	163.45
		Impairment losses of assets	3.07	233.61	8.75	255.14
	Add: Gains from changes in fair value (Losses are indicated by_“-”_)		-23.77	17.54	-349.79	52.53
		Investment income (Losses are indicated by_“-”_)	25.28	16.05	70.87	155.54
		Including: Income from investments in associates and joint
		ventures	11.45	0.96	33.22	4.91
III.	Operating profit (losses are indicated by“-”)		1,332.18	132.39	3,446.08	744.24
	Add:	Non-operating income	26.83	18.09	32.73	21.63
		Including: Gains from disposal of non-current assets	4.16	–	4.35	0.03
	Less:	Non-operating expenses	35.48	3.40	65.23	23.33
		Including: Loss from disposal of non-current assets	0.04	0.26	4.85	0.40
IV.	Total profit (Total losses are indicated by “-”)		1,323.53	147.08	3,413.57	742.54
	Less:	Income tax expenses	411.89	80.43	1,132.48	174.33

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Unit: million Yuan Currency: RMB

				Amount from
				the beginning
				of the year to
				the end of the
		Amount for	Amount for	reporting	Amount for the
		the period	the prior year	period	prior year period
		(July to	period (July to	(January to	(January to
Item		September)	September)	September)	September)
V.	Net profit (Net losses are indicated by“-”)	911.64	66.65	2,281.09	568.21
	Net profit attributable to owners of the parent company	769.40	71.60	1,604.54	583.50
	Profit or loss attributable to minority interests	142.24	-4.95	676.55	-15.29
VI.	Other comprehensive income net of tax	-152.14	488.19	-789.18	432.73
	Other comprehensive income net of tax attributable
	to owners of the parent company	-80.94	488.19	-360.25	432.73
	Other comprehensive income that will be subsequently
	reclassified to profit or loss	-80.94	488.19	-360.25	432.73
	1. Gains or losses from changes in fair value of
	available-for-sale financial assets	13.48	387.42	11.90	263.52
	2. Differences in foreign currency translation	-94.43	100.77	-372.14	169.21
	Other comprehensive income net of tax attributable to
	minority interests	-71.20	–	-428.93	–
VII.	Total comprehensive income	759.50	554.84	1,491.92	1,000.94
	Total comprehensive income attributable to owners of
	the parent company	688.46	559.79	1,244.29	1,016.23
	Total comprehensive income attributable to minority interests	71.04	-4.95	247.62	-15.29
VIII.	Earnings per share:
	Basic earnings per share_(Yuan/Share)_	0.04	0.0043	0.09	0.0346

– 20 –

Income Statement of the Parent Company

Unit: million Yuan Currency: RMB

				Amount from
				the beginning
				of the year
				to the end of
		Amount for	Amount for	the reporting	Amount for the
		the period	the prior year	period	prior year period
		(July to	period (July to	(January to	(January to
Item		September)	September)	September)	September)
I.	Operating income	787.41	578.00	2,150.66	1,728.48
	Less: Operating costs	278.95	231.97	888.98	793.83
	Taxes and surcharges	69.98	41.90	177.55	124.50
	Selling expenses	0.20	0.41	0.81	1.14
	Administrative expenses	81.91	49.35	222.75	146.15
	Financial expenses	-10.92	4.17	105.49	-32.43
	Impairment losses of assets	–	-1.31	–	0.06
	Add: Gains from changes in fair value
	(Losses are indicated by_“-”_)	-1.98	17.54	4.27	52.53
	Investment income (Losses are indicated by_“-”_)	31.95	17.69	79.47	73.26
	Including: Income from investments in associates
	and joint ventures	20.05	3.62	41.82	12.54
II.	Operating profit (losses are indicated by“-”)	397.27	286.74	838.81	821.02
	Add: Non-operating income	12.55	17.97	14.45	21.42
	Including: Gains from disposal of non-current assets	0.23	–	0.23	0.03
	Less: Non-operating expenses	0.43	2.91	20.54	22.39
	Including: Loss from disposal of non-current assets	0.03	–	0.03	0.15
III.	Total profit (Total losses are indicated by“-”)	409.39	301.80	832.72	820.04
	Less: Income tax expenses	47.28	20.11	92.32	78.11
IV.	Net profit (Net losses are indicated by“-”)	362.11	281.69	740.40	741.94
V.	Total comprehensive income	362.11	281.69	740.40	741.94

– 21 –

Consolidated Cash Flow Statement

Unit: million Yuan Currency: RMB

Item I. Cash flows from operating activities: Cash receipts from the sale of goods and the rendering of services Other cash receipts relating to operating activities Sub-total of cash inflows from operating activities Cash payments for goods purchased and services received Cash payments to and on behalf of employees Payments of various types of taxes Other cash payments relating to operating activities Sub-total of cash outflows from operating activities Net cash flow from operating activities II. Cash flows from investing activities: Cash receipts from recovery of investments Cash receipts from investment income Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets Other cash receipts relating to investing activities Sub-total of cash inflows from investing activities	Item I. Cash flows from operating activities: Cash receipts from the sale of goods and the rendering of services Other cash receipts relating to operating activities Sub-total of cash inflows from operating activities Cash payments for goods purchased and services received Cash payments to and on behalf of employees Payments of various types of taxes Other cash payments relating to operating activities Sub-total of cash outflows from operating activities Net cash flow from operating activities II. Cash flows from investing activities: Cash receipts from recovery of investments Cash receipts from investment income Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets Other cash receipts relating to investing activities Sub-total of cash inflows from investing activities	Amount for the period (January to September) 17,426.80 1,104.74 18,531.55 8,614.68 1,506.26 1,918.83 825.32 12,865.09 5,666.46 2,267.32 219.93 0.50 59.29 2,547.03		Amount for the prior year period (January to September) 3,934.67 315.34 4,250.01 2,339.76 426.35 440.92 177.42 3,384.45 865.56 3,345.37 303.67 0.25 – 3,649.29

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Unit: million Yuan Currency: RMB

Item Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets Cash payments to acquire investments Net cash payments for acquisitions of subsidiaries and other business units Other cash payments relating to investing activities Sub-total of cash outflows from investing activities Net cash flow from investing activities III. Cash flows from financing activities: Cash receipts from capital contributions Cash receipts from borrowings Other cash receipts relating to financing activities Sub-total of cash inflows from financing activities Cash repayments of borrowings Cash payments for distribution of dividends or profits or settlement of interest expenses Other cash payments relating to financing activities Sub-total of cash outflows from financing activities Net cash flow from financing activities IV. Effect of foreign exchange rate changes on cash and cash equivalents V. Net increase in cash and cash equivalents Add: Opening balance of cash and cash equivalents VI. Closing balance of cash and cash equivalents		Amount for the period (January to September) 534.54 14,128.21 65.85 259.49 14,988.10 -12,441.07 21,045.99 7,529.93 1,570.27 30,146.19 9,054.51 2,177.22 1,646.22 12,877.95 17,268.25 -158.63 10,335.00 8,420.21 18,755.21		Amount for the prior year period (January to September) 199.75 2,614.19 11,262.20 0.54 14,076.68 -10,427.39 – 19,288.21 3,451.90 22,740.12 7,574.10 681.94 2,374.39 10,630.43 12,109.68 66.69 2,614.54 8,982.16 11,596.70

– 23 –

Cash Flow Statement of the Parent Company

Unit: million Yuan Currency: RMB

Item I. Cash flows from operating activities: Cash receipts from the sale of goods and the rendering of services Other cash receipts relating to operating activities Sub-total of cash inflows from operating activities Cash payments for goods purchased and services received Cash payments to and on behalf of employees Payments of various types of taxes Other cash payments relating to operating activities Sub-total of cash outflows from operating activities Net cash flow from operating activities II. Cash flows from investing activities: Cash receipts from recovery of investments Cash receipts from investment income Other cash receipts relating to investing activities Sub-total of cash inflows from investing activities Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets Cash payments to acquire investments Other cash payments relating to investing activities Sub-total of cash outflows from investing activities Net cash flow from investing activities	Amount for the period (January to September) 2,132.55 130.12 2,262.67 333.08 211.05 407.76 712.68 1,664.58 598.09 1,896.00 169.97 883.51 2,949.48 34.67 6,692.30 880.00 7,606.97 -4,657.49	Amount for the prior year period (January to September) 2,720.16 302.04 3,022.19 1,585.06 212.11 355.01 482.59 2,634.77 387.42 2,535.00 291.57 809.29 3,635.87 26.84 13,609.80 4,192.74 17,829.39 -14,193.52

– 24 –

Unit: million Yuan Currency: RMB

Item III. Cash flows from financing activities: Cash receipts from capital contributions Cash receipts from borrowings Other cash receipts relating to financing activities Sub-total of cash inflows from financing activities Cash repayments of borrowings Cash payments for distribution of dividends or profits or settlement of interest expenses Other cash payments relating to financing activities Sub-total of cash outflows from financing activities Net cash flow from financing activities IV. Effect of foreign exchange rate changes on cash and cash equivalents V. Net increase in cash and cash equivalents Add: Opening balance of cash and cash equivalents VI. Closing balance of cash and cash equivalents	Amount for the period (January to September) 17,856.10 2,310.92 1,535.58 21,702.60 8,225.24 1,187.45 1,404.90 10,817.59 10,885.01 -4.07 6,821.53 4,535.86 11,357.40	Amount for the prior year period (January to September) – 11,275.95 3,451.82 14,727.77 4,277.38 587.87 2,374.44 7,239.69 7,488.08 -5.57 -6,323.59 8,163.16 1,839.57

By Order of the Board China Molybdenum Co., Ltd.* Li Chaochun Chairman

Luoyang City, Henan Province, the People’s Republic of China, 29 October 2017

As at the date of this announcement, the Company’s executive directors are Messrs. Li Chaochun and Li Faben; the Company’s non-executive directors are Messrs. Ma Hui, Yuan Honglin and Cheng Yunlei; and the Company’s independent non-executive directors are Messrs. Bai Yanchun, Xu Shan and Cheng Gordon.

• For identification purposes only

– 25 –