股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國稀土控股有限公司 呈交日期: 2025年11月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00769 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.1 | HKD | | 400,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.1 | HKD | | 400,000,000 | 本月底法定/ ...

Core Insights - The Central State-Owned Enterprises Modern Energy Index has seen a strong increase of 1.70%, with notable gains from stocks such as China Xidian up 6.61% and Shanghai Electric up 6.40% [3] - The National Development and Reform Commission has released a plan aiming for a new energy storage capacity of over 180 million kilowatts by 2027, enhancing project economics through supportive policies [5] - The demand for energy storage is expected to maintain a high growth rate, with projections indicating a 30%-40% increase in global energy storage installations over the next two years [4] Group 1: Market Performance - The Central State-Owned Enterprises Modern Energy ETF (561790) has increased by 1.63%, marking a three-day consecutive rise, with a latest price of 1.25 yuan [3] - The ETF has seen a weekly cumulative increase of 2.85% as of October 24, 2025, ranking in the top third among comparable funds [3] - The ETF's trading volume reached 416.82 million yuan with a turnover rate of 9.1% [3] Group 2: Policy and Economic Outlook - The new energy storage plan outlines a target of 180 million kilowatts by 2027, with supportive measures from provinces like Henan to enhance project viability [5] - The energy storage market is experiencing robust demand, driven by new pricing policies and increased investment from social capital [4] - The lithium battery demand is projected to exceed 2700 GWh next year, with a year-on-year growth rate of over 30% [4] Group 3: Industry Composition - The top ten weighted stocks in the Central State-Owned Enterprises Modern Energy Index account for 47.72% of the index, including major players like Yangtze Power and China Nuclear Power [6] - The Central State-Owned Enterprises Modern Energy ETF closely tracks the index, which includes 50 listed companies involved in green energy and fossil energy sectors [5]

Core Viewpoint - The A-share market experienced a significant rebound, particularly in technology stocks, with the Shanghai Composite Index rising by 0.69%, the Shenzhen Component Index by 1.38%, and the ChiNext Index by 2.49% [2]. Market Performance - The total trading volume in the Shanghai and Shenzhen markets reached 1.16 trillion yuan, a decrease of 16.5 billion yuan compared to the previous trading day, with over 4,200 stocks showing gains [4]. - The A-share market's total market capitalization surpassed 24.5 trillion yuan [4]. Sector Highlights - Technology stocks, particularly in CPO, computing power, and 6G concepts, saw significant gains, with companies like Cambrian Technology reporting a revenue increase of 2386.38% year-on-year [4][6]. - Solid-state battery concepts gained traction, with companies like Hekang New Energy and Zhuhai Guanyu rising over 10% following announcements of technological breakthroughs in solid-state battery production [6][8]. - Precious metals experienced a notable decline, with the precious metals sector down by 6.09% [3]. Notable Stocks - Agricultural Bank of China saw its stock price rise over 1%, continuing a streak of 12 consecutive days of gains [4]. - Companies in the CPO sector, such as Huijie Ecology and Cambridge Technology, reached their daily limit up [8]. - The stock of Cambrian Technology expanded its gains to over 5%, trading at 1318.97 yuan [4].

Core Viewpoint - China's comprehensive control over the rare earth industry is expected to lower global supply growth forecasts, benefiting the domestic rare earth sector's high-quality development [1][2]. Group 1: Policy and Regulation - The Ministry of Commerce and the General Administration of Customs have announced that starting from November 8, 2025, export controls will be implemented on certain medium and heavy rare earth items, related equipment, raw materials, and technologies [1][2]. - The recent upgrade in export controls includes an expanded range of controlled items, now including five additional medium and heavy rare earth elements [2]. - Export controls now extend to overseas operators, requiring them to obtain export licenses from the Chinese Ministry of Commerce for items containing or mixed with controlled rare earth materials [2]. Group 2: Market Dynamics - The demand for rare earths is expected to benefit from the continuous growth in the production of electric vehicles and wind power installations [4]. - As of August this year, China's exports of rare earth permanent magnets have increased by 15.4% year-on-year, indicating a recovery in export volumes [4]. Group 3: Investment Opportunities - Companies to watch in the rare earth sector include Northern Rare Earth (600111.SH), China Rare Earth (000831.SZ, 00769), Guangsheng Nonferrous (600259.SH), and magnetic material producer Jieli Permanent Magnet (300748.SZ, 06680) [5]. Group 4: Supply Chain Challenges - The difficulty of reconstructing the rare earth supply chain overseas has increased due to China's strengthened controls, enhancing the strategic position of Chinese rare earth products [3].

Group 1: Rare Metal ETF Performance - The Rare Metal ETF has a turnover rate of 11.57% during trading, with a transaction volume of 359 million yuan, indicating active market trading [3] - The latest scale of the Rare Metal ETF reached 3.08 billion yuan, marking a new high since its inception and ranking first among comparable funds [3] - The ETF's share reached 3.67 billion shares, also a new high since inception, and ranks first among comparable funds [3] - Over the past three days, the Rare Metal ETF has seen continuous net inflows, with a maximum single-day net inflow of 358 million yuan, totaling 551 million yuan [3] - As of October 10, the net value of the Rare Metal ETF has increased by 17.31% over the past three years [3] - The highest monthly return since inception is 24.02%, with the longest consecutive monthly increase being five months and a maximum increase of 66.25%, averaging a monthly return of 8.60% [3] Group 2: Cobalt Export Quotas and Market Dynamics - According to CITIC Construction Investment, cobalt export quotas for Congo (Kinshasa) have been finalized, with Luoyang Molybdenum, Glencore, and Eurasian Resources holding the top three shares at 35.9%, 27.3%, and 21.6% respectively [4] - The total quota for 2026 and 2027 is set at 96,600 tons, which includes a basic quota of 87,000 tons allocated to production enterprises and a strategic quota of 9,600 tons [4] - Under the quota system, only about 44% of production can be exported, resulting in a reduction of over 100,000 tons [4] - Based on estimates for 2024, with a supply of 270,000 tons and demand of 230,000 tons, the market is expected to shift from a surplus of about 70,000 tons to a shortage of about 30,000 tons, potentially driving cobalt prices higher [4] Group 3: Rare Earth Export Controls - The Ministry of Commerce has issued four documents to strengthen rare earth export controls, adding five categories of medium and heavy rare earths to the export control list [4] - The controls also extend to the entire industrial chain, including equipment, technology, and raw materials, with additional regulations on overseas military and high-end semiconductor demands [4] - The strategic position of rare earths has been further reinforced through these measures [4] Group 4: Rare Metal Index and Investment Opportunities - As of September 30, 2025, the top ten weighted stocks in the CSI Rare Metal Theme Index include Northern Rare Earth, Luoyang Molybdenum, Huayou Cobalt, and others, collectively accounting for 59.91% of the index [4] - Investors can also participate in the rare metal sector through the Rare Metal ETF linked fund (014111) [4]

Core Viewpoint - The Chinese Ministry of Commerce has tightened export licenses for rare earths, leading to price increases announced by major domestic players, Northern Rare Earth and Baotou Steel, indicating a shift in valuation logic from traditional cyclical stocks to a dual-driven model of "strategic resources + high-end manufacturing" [1] Group 1: Price Adjustments - Northern Rare Earth and Baotou Steel have both announced adjustments to their rare earth concentrate trading prices for Q4 2025, setting the price at 26,205 CNY/ton (dry weight, REO=50%), marking a 37.13% increase from Q3 [1] - The price of praseodymium-neodymium oxide averaged 562,000 CNY/ton on September 30, up 26.43% from 444,500 CNY/ton on June 30, indicating significant price movements in the rare earth market [2] - Over the past year, Northern Rare Earth's rare earth concentrate trading price has increased from 16,741 CNY/ton in Q3 2024 to 26,205 CNY/ton, reflecting a 56.53% increase [2] Group 2: Demand and Market Trends - Demand for rare earths is expected to grow, with a 10% increase in magnetic material demand anticipated due to developments in green low-carbon technologies and electric-driven applications [3] - The revenue and profit of related companies are projected to rise significantly due to increasing rare earth concentrate prices, with Northern Rare Earth expecting a net profit of 1.51 billion to 1.57 billion CNY for the first three quarters of the year, a year-on-year increase of 272.54% to 287.34% [3] Group 3: Industry Outlook - The tightening of the rare earth industry chain management is expected to enhance the strategic position of the industry, leading to improved valuations for listed companies in the sector [4] - Analysts predict significant profit improvements for rare earth and magnetic material companies in Q3 and Q4, with a continued bullish outlook on rare earth prices [4] - Companies such as Northern Rare Earth, Guangsheng Nonferrous, China Rare Earth, Baotou Steel, and Shenghe Resources are recommended for investment due to their strategic positions in the market [4] Group 4: Related Stocks Performance - Jinli Permanent Magnet expects a net profit of 505 million to 550 million CNY for the first three quarters of 2025, a year-on-year increase of 157% to 179% [5] - China Rare Earth, primarily engaged in the manufacturing and sales of rare earth products, is positioned to benefit from the rising demand and prices in the sector [5] - Minmetals Resources reported a revenue of 2.817 billion USD for the first half of the year, a 47% year-on-year increase, with a significant profit increase of 1511% [5]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 本月底法定/註冊股本總額： HKD 400,000,000 第 1 頁 共 10 頁 v 1.1.1 呈交日期: 2025年10月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00769 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | 0 | | 本月底結存 | | | 4,000,000,000 | HKD | | 0.1 HKD | | 400,000,000 | FF301 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責 任。 (1) 復 牌 進 展 之 季 度 更 新 之 補 充 公 告； (2) 有 關 訴 訟 之 最 新 情 況； 及 (3) 繼續暫停買賣 本公司財務顧問 有關復牌進展之補充資料 本公司謹此知會本公司股東及潛在投資者有關更新本集團業務營運最新狀況 及 達 成 復 牌 指 引 項 下 規 定 進 展 的 補 充 資 料。 有關本公司業務營運之額外資料 誠 如 本 公 司 截 至 二 零 二 四 年 十 二 月 三 十 一 日 止 年 度 之 年 報 所 披 露，本 公 司 主 要透過於中國境內的該等附屬公司從事稀土業務及耐火材料業務兩個業務分 部。 誠 如 調 查 公 告 所 披 露，本 公 司 已 接 獲 自 稱 本 公 司 其 中 一 間 附 屬 公 司 僱 員 的 僱 員 投 訴，指 控（其 中 包 括）本 集 團 附 屬 公 司 潛 在 挪 用 ...

每经记者｜张宝莲 每经编辑｜程鹏 魏官红 1600公斤钨条，评估作价1.5亿港元，折合9375万港元/吨。6月中旬，马来西亚商人王心兰以此条件成功换取中国稀土（00769.HK）14.3%的股份。 "钨条有没有？到底在哪里？我不知道。"两个多月后，中国稀土创始人蒋泉龙向《每日经济新闻》记者说道。 2024年5月，71岁的蒋泉龙重掌中国稀土，他希望能借助外部力量推动企业走出困境。但如今，对于公司经营，各方争议不断，其本人也因债务问题被董 事会"除名"。 围绕上述争议性交易，一系列疑问至今仍未有确切答案。近日，记者赶赴江苏宜兴、江西赣州及香港，试图厘清这笔交易的真实情况。 中国稀土运营实体 图片来源：每经记者 张宝莲 摄 蒋泉龙：质疑钨条实际价值 5月28日，中国稀土公告称，公司通过全资子公司Wealthy Energy Limited以每股0.375港元的价格向众景国际有限公司（以下简称"众景国际"）定增4亿股， 以此作为"代价股份"收购1600公斤纯度不低于99.995%（4N5）的钨条，交易总价1.5亿港元。 图片来源：中国稀土公告截图 不过，对于这笔交易的推进过程，中国稀土创始人蒋泉龙认为存在诸多疑点。 ...

调查|中国稀土钨条交易迷局 1600公斤钨条，评估作价1.5亿港元，折合9375万港元/吨。6月中旬，马来西亚商人王心兰以此条件成 功换取中国稀土(00769.HK)14.3%的股份。 "钨条有没有？到底在哪里？我不知道。"两个多月后，中国稀土创始人蒋泉龙向《每日经济新闻》记者 说道。 2024年5月，71岁的蒋泉龙重掌中国稀土，他希望能借助外部力量推动企业走出困境。但如今，对于公 司经营，各方争议不断，其本人也因债务问题被董事会"除名"。 围绕上述争议性交易，一系列疑问至今仍未有确切答案。近日，记者赶赴江苏宜兴、江西赣州及香港， 试图厘清这笔交易的真实情况。 蒋泉龙：质疑钨条实际价值 5月28日，中国稀土公告称，公司通过全资子公司Wealthy Energy Limited以每股0.375港元的价格向众景 国际有限公司(以下简称"众景国际")定增4亿股，以此作为"代价股份"收购1600公斤纯度不低于99.995% (4N5)的钨条，交易总价1.5亿港元。 接受《每日经济新闻》记者采访时，蒋泉龙出示了两份报告。一份是委托中国钨业协会出具的钨条产品 市场报告，该报告提及，2025年上半年，国内99.995%高纯 ...