Summary by Moomoo AI
Luoyang Luanchuan Molybdenum Group Co., Ltd. (“Luoyang Molybdenum Industry” or the “Company”) issued a clarification notice on 16 May 2024 in response to media reports about its wholly-owned subsidiary IXM. The announcement noted that IXM is a world-class metals trading platform that addresses market risk in a futures fashion, carries out cross market, cross market, cross term and margin trading strategies, and has an effective risk management system. THE COMPANY EMPHASIZES THAT IXM'S TRADING STRATEGY IS NOT DIRECTLY RELATED TO THE SELLING PRICE OF THE COMPANY'S OWN COPPER AND DOES NOT ENGAGE IN PURELY SPECULATIVE TRADING. Luoyang Molybdenum said that the company's production and operations are in good condition, overall liquidity is at the best level in...Show More