Core Insights - The report highlights significant developments in copper and other mineral projects in Afghanistan and Pakistan, with a focus on the expected operational advancements by 2025 and the historical production achievements in 2024 [1][2][3]. Group 1: Project Developments - The Afghanistan Aynak copper mine is projected to achieve substantial progress by the end of 2025, with a resource increase of 1.28 million tons, raising the total resource to 12.36 million tons [2]. - The Pakistan Saindak copper-gold mine has reached record production levels, with a copper resource estimate of 1.809 million tons by the end of 2024, and a sales volume of 22,760 tons of copper [3]. - The Pakistan Saindak mine achieved an average production rate of 124.6% and generated revenue of 1.74 billion yuan, with a profit of 203 million yuan [3]. Group 2: Market Performance - The LME copper price closed at $9,760 per ton on August 15, reflecting a year-on-year increase of 6.8% [4]. - The nickel and cobalt resources at the Ramu nickel-cobalt mine in Papua New Guinea have increased to 1.842 million tons and 209,000 tons, respectively, with significant production and sales figures reported [4]. - The LME nickel price decreased by 6.9% year-on-year, closing at $15,195 per ton on August 15 [4]. Group 3: Resource Estimates and Financial Performance - The Duddar lead-zinc mine in Pakistan is estimated to have lead resources of 321,100 tons and zinc resources of 642,900 tons by the end of 2024, with expectations for resource doubling by 2025 [5]. - The Duddar mine achieved a production rate of 102.6% in 2024, with revenues of 760 million yuan and a profit of 250 million yuan [5].

Core Viewpoint - The article highlights the significant efforts and investments made by China Huadian Corporation in developing clean energy projects in Tibet, emphasizing the dual focus on energy production and ecological protection [4][6][8]. Group 1: Investment and Development - China Huadian plans to invest 9.361 billion yuan in Tibet this year, aiming for a cumulative investment of over 49 billion yuan during the 14th Five-Year Plan period [4]. - The company is actively involved in the construction of various clean energy projects, including the 1.2 million kilowatt Huadian Jinshang Suwalong Hydropower Station and the 750,000 kilowatt Huadian Jinshang Batang Hydropower Station, which are operational and contributing to green energy supply [2][3]. Group 2: Ecological Protection - The company adopts a "board on top, grazing below" model in its projects, promoting a symbiotic relationship between energy development and ecological conservation [5][6]. - China Huadian has made significant contributions to ecological protection, including the establishment of ecological fishways at hydropower stations to protect fish spawning habitats, and has been recognized for its efforts in afforestation, completing over 8,800 acres of reforestation [7][8]. Group 3: Community Impact - The construction of the Suwalong Hydropower Station has opened up economic opportunities for nearby villages, with local residents engaging in various businesses and benefiting from improved infrastructure [10][11]. - The company has sent 14 batches of work teams to support local communities, investing 2.827 billion yuan in land compensation and creating significant local employment opportunities [11].

Core Insights - The completion of the access road for the Aynak copper mine project in Afghanistan marks a significant milestone for the investment consortium formed by China Metallurgical Group Corporation and Jiangxi Copper Corporation [1] - China Metallurgical Group, a leading player in the metallurgical construction sector, aims to enhance its core metallurgy business and improve profit margins through a diversified business model [1] - The Aynak copper mine, with a high-grade resource of 12.36 million tons, is expected to start mining operations by the end of this year, potentially leading to a revaluation of the company's mineral assets [2] Company Overview - China Metallurgical Group is a major player in the metallurgical construction industry, having been involved in the development of key steel projects in China since 1948 [1] - The company underwent a strategic restructuring in 2015, becoming part of China Minmetals, with a significant shareholding structure where the controlling shareholder holds 49.18% as of Q1 2025 [1] - The company has set a medium to long-term goal to balance its core metallurgy business with construction and municipal infrastructure, targeting a 50% share for each segment [1] Financial Performance - As of the end of 2024, the company has three operational mining projects with a combined revenue of 5.47 billion yuan and a total profit attributable to the Chinese side of 913 million yuan, representing 9.87% of the company's total profit [2] - The company anticipates a steady increase in net profit for the years 2025 to 2027, projecting figures of 6.749 billion, 7.054 billion, and 7.359 billion yuan respectively, with corresponding EPS of 0.33, 0.34, and 0.36 yuan [2]

西部证券股份有限公司给予中国中冶A股增持的初始评级。 ...

（编辑 姚尧） 证券日报网讯 8月21日晚间，中国中冶发布公告称，本公司于近日收到中信证券股份有限公司（简 称"中信证券"）《关于更换保荐代表人的函》。原公司持续督导保荐代表人黄慈先生和杨斌先生因工作 调整原因，不再负责公司首次公开发行A股股票持续督导的保荐代表人工作，中信证券委派于梦尧女士 和赵巍先生接替黄慈先生和杨斌先生担任本公司的保荐代表人，继续履行对公司的持续督导职责。 ...

中国中冶（601618）(01618)发布公告，原公司持续督导保荐代表人黄慈先生和杨斌先生因工作调整原 因，不再负责公司首次公开发行A股股票持续督导的保荐代表人工作，中信证券委派于梦尧女士和赵巍 先生接替黄慈先生和杨斌先生担任公司的保荐代表人，继续履行对公司的持续督导职责。本次保荐代表 人更换后，负责公司持续督导工作的保荐代表人为于梦尧女士和赵巍先生。 ...

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。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而發表。 以下為中國冶金科工股份有限公司（「本公司」）於二零二 五 年 八 月 二十一 日 在 上 海 證 券 交 易 所 網 站 刊 發 的 資 料 全 文，僅 供 提 供 信 息 之 用。 承董事會命 於 本 公 告 日 期，本 公 司 董 事 會 包 括 執 行 董 事：陳 建 光 先 生 及 白 小 虎 先 生； 非 執 行 董 事：郎 加 先 生 及 閆 愛 中 先 生（職工代表董事）；以 及 獨 立 非 執 行 董 事：劉力先生、吳 嘉 寧 先 生 及 周 國 萍 女 士。 * 僅供識別 A 股简称：中国中冶 A 股代码：601618 公告编号：临 2025-043 中国冶金科工股份有限公司 关于变更持续督导保荐代表人的公告 中國冶金科工股份有限公司 ...

A 股简称：中国中冶 A 股代码：601618 公告编号：临 2025-043 中国冶金科工股份有限公司 关于变更持续督导保荐代表人的公告 中国冶金科工股份有限公司（以下简称"本公司"、"公司"）董事会及全体董事 保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、 准确性和完整性承担法律责任。 本公司于近日收到中信证券股份有限公司（以下简称"中信证券"）《关于更换保 荐代表人的函》。原公司持续督导保荐代表人黄慈先生和杨斌先生因工作调整原因，不 再负责公司首次公开发行 A 股股票持续督导的保荐代表人工作，中信证券委派于梦尧 女士和赵巍先生（简历附后）接替黄慈先生和杨斌先生担任本公司的保荐代表人，继续 履行对公司的持续督导职责。本次保荐代表人更换后，负责公司持续督导工作的保荐代 表人为于梦尧女士和赵巍先生。根据相关监管规定，上述保荐机构及保荐代表人将履行 与募集资金有关的持续督导义务，直至本公司首次公开发行 A 股股票的募集资金使用 完毕。 特此公告。 于梦尧女士，中信证券股份有限公司总监，硕士研究生学历，注册保荐代表人，曾 负责和参与了德邦物流 IPO 及再融资项目、东方航空非公开 ...

Core Insights - The article highlights the top and bottom AH share premium rates as of August 21, with Northeast Electric (00042), Andeli Juice (02218), and Hongye Futures (03678) leading in premium rates, while CATL (03750), Heng Rui Medicine (01276), and Midea Group (00300) lag behind [1][2] Premium Rate Summary - The top three AH share premium rates are as follows: - Northeast Electric (00042): 757.14% - Andeli Juice (02218): 237.73% - Hongye Futures (03678): 236.54% [2] - The bottom three AH share premium rates are: - CATL (03750): -17.69% - Heng Rui Medicine (01276): -2.65% - Midea Group (00300): 5.19% [2] Deviation Value Summary - The top three stocks with the highest deviation values are: - Andeli Juice (02218): 38.61% - Beijing Machinery (00187): 30.46% - Junda Co. (02865): 17.54% [1][3] - The bottom three stocks with the lowest deviation values are: - BYD (01211): -111.35% - Northeast Electric (00042): -64.92% - Longpan Technology (02465): -46.48% [1][3]

Group 1 - Hong Kong high-speed rail infrastructure stocks collectively strengthened, with China CRRC leading the rise by over 6%, followed by Times Electric with a 4% increase, and China Railway Construction, China Railway, and China Metallurgical Group each rising nearly 3% [1] - According to a report from招商宏观, the next phase should focus on the rebound effect of infrastructure-related fiscal expenditure growth, which may significantly support the currently weak infrastructure investment growth [1] - The cumulative year-on-year growth rate of public budget expenditure in the infrastructure sector from January to July was -5%, but it is expected to rebound to over 7% from August to December [1] Group 2 - The stock performance of key companies includes: China CRRC at 6.20%, Times Electric at 3.86%, China Railway Construction at 2.97%, China Railway at 2.72%, China Metallurgical Group at 2.63%, China Communications Construction at 1.55%, and Guangzhou-Shenzhen Railway at 1.02% [2]