CMOC GROUP(603993)：PLAN FOR KFM PHASE II UNVEILED RISING COBALT PRICES LIFTING EARNINGS GROWTH
- The firm released a blockbuster equity incentive plan on theevening of September 23, proposing to launch an incentive planof 393 million H shares to retain core talent. Tightening supply and demand dynamics pushed up cobaltprices, boding well for results growth. The DRC's cobaltquota for 2026/27 accounts for 44% of its 2024 output, andsolid-state batteries will boost the growth potential of demand forternary materials. The tight cobalt supply and demand dynamicswill push up average cobalt prices, in our ...