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8月31日 狀態: 新提交 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) | 02362 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | 20,000,000,000 | HKD | | 0.01 | HKD | | 200,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | 20,000,000,000 | HKD | | 0.01 | HKD | | 200,000,000 | 本月底法定/註冊股本總額： HKD 200,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有 ...

Core Viewpoint - Jinchuan International (02362) reported a decrease in copper production for the first half of 2025 due to unstable electricity supply at the Ruashi mine in the Democratic Republic of the Congo, leading to a temporary halt in the solvent extraction-electrolytic refining system [1] Group 1: Production and Sales - The company produced 27,904 tons of copper (including electrolytic copper and copper concentrate) in the first half of 2025, a decrease of approximately 2.4% compared to 28,578 tons in the same period of 2024 [1] - Copper sales amounted to 26,050 tons (including direct shipping ore, electrolytic copper, and copper concentrate) in the first half of 2025, a slight decline of 0.7% from 26,222 tons in the same period of 2024 [1] Group 2: Cobalt Production - Cobalt production was significantly impacted, with only 71 tons produced (in terms of cobalt hydroxide content) in the first half of 2025, representing a dramatic decrease of approximately 89.6% from 681 tons in the same period of 2024 [1] - The company did not sell any cobalt in the first half of 2025 due to low production and an export ban implemented in February 2025, which has been extended until September 2025; in contrast, 991 tons of cobalt were sold in the same period of 2024 [1]

Group 1 - The company reported a copper production of 27,904 tons in the first half of 2025, a decrease of approximately 2.4% compared to 28,578 tons in the same period of 2024 due to unstable electricity supply affecting operations at the Ruashi mine [1] - Cobalt production significantly dropped to 71 tons in the first half of 2025, a decline of about 89.6% from 681 tons in the same period of 2024, primarily due to the temporary halt of the SX-EW system and an export ban implemented in February 2025 [1] - The company sold 26,050 tons of copper in the first half of 2025, a slight decrease of 0.7% from 26,222 tons in the same period of 2024, while no cobalt was sold during this period compared to 991 tons sold in the same period of 2024 [1] Group 2 - The company is actively installing additional diesel generators to address the electricity supply issues and plans to resume SX-EW system operations by mid-May 2025 [1] - The export ban on cobalt, which has been extended until September 2025, has impacted the company's ability to sell cobalt [1] - The company continues to be suspended from trading [2]

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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部 分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 JINCHUAN GROUP INTERNATIONAL RESOURCES CO. LTD 金川集團國際資源有限公司 分析及前景 （於開曼群島註冊成立之有限公司） （股份代號：2362） 截至二零二五年六月三十日止六個月最新營運情況 本公告乃由金川集團國際資源有限公司（「本公司」，連同其附屬公司統稱為「本集 團」）根據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第13.09 條及香港法例第571章證券及期貨條例第XIVA部項下之內幕消息條文（定義見上市規 則）而刊發。 本公司董事會（「董事會」）宣佈截至二零二五年六月三十日止六個月（「二零二五年上 半年」）之未經審核最新營運情況。 截至二零二五年六月三十日止六個月最新營運情況 營運數據 下表所概述及所示之本集團採礦業務之營運數據乃源自本集團現時可得之管理賬目 及內部記錄。提供該營運數據旨在令投資者及時了解本集團營運情況之概覽，而營運 ...

Group 1 - Heytea has officially launched on Taobao Flash Sale, with over 4,000 stores nationwide fully operational [1] - The collaboration with Taobao Flash Sale aims to provide differentiated products and brand experiences to a broader consumer base [1] - The overall market capacity for food delivery has increased from 100 million orders per day to over 200 million [1] Group 2 - Moutai has also announced its entry into Taobao Flash Sale, indicating a trend among leading brands to utilize this platform for business growth [2] - The launch of Heytea on Taobao Flash Sale is seen as a significant move, suggesting a shift in the industry from competition for traffic to ecosystem building [2] - The new customer count for tea merchants on Taobao Flash Sale saw a week-on-week increase of 255% on the day of the autumn equinox [1][2] Group 3 - Chayan Yuese has opened three new stores in Changsha, expanding into the new Chinese baking sector with products priced mainly between 3-6 yuan [1][2] Group 4 - Cangzhong Ancient Tea announced that some bank accounts have been frozen due to a lawsuit, impacting normal payment operations [4] - The lawsuit involves a business cooperation contract dispute, with the company and its executives listed as defendants [5] Group 5 - Kudi Coffee (Hengqin) Co., Ltd. has been established with a registered capital of 100 million USD, focusing on various services including restaurant management and supply chain management [6][7] Group 6 - Tianrun Dairy reported a net loss of 21.86 million yuan for the first half of 2025, with total revenue of 1.395 billion yuan, a decrease of 3.30% year-on-year [8] - The company has invested in 20 enterprises and participated in 1,269 bidding projects, indicating active engagement in the market [8]

Core Viewpoint - The Hong Kong Stock Connect securities list will be adjusted, with Jinchuan International being removed effective July 11, 2025 [1] Group 1 - The adjustment of the Hong Kong Stock Connect securities list is officially announced by the Shenzhen Stock Exchange [1] - Jinchuan International will no longer be part of the Hong Kong Stock Connect securities list starting from the specified date [1]

Group 1 - The company reported a copper production of 13,914 tons for the three months ending March 31, 2025, representing an increase of approximately 6.8% compared to 13,026 tons in the same period of 2024, driven by a shift from electrolytic copper to copper concentrate production at the Ruashi mine [1] - The company temporarily halted the high electricity consumption solvent extraction-electrolytic refining (SX-EW) system at the Ruashi mine in January 2025 due to unstable power supply from the national grid in the Democratic Republic of Congo, leading to a decrease in electrolytic copper production [1] - The company sold 11,957 tons of copper in the first quarter, a decrease of approximately 9.5% from 13,206 tons in the same period of 2024 [1] Group 2 - Cobalt production in the first quarter was 71 tons, a significant decrease of approximately 86.6% from 530 tons in the same period of 2024, due to the temporary suspension of the SX-EW system [1] - The reduction in copper sales in the first quarter was impacted by the Congolese government's announcement in February 2025 to temporarily suspend all cobalt exports for four months, which unexpectedly affected copper concentrate sales at the Ruashi mine [2] - The Kinsenda mine's copper concentrate production was not affected by the cobalt export ban, while the company did not sell any cobalt during the period, compared to 318 tons sold in the same period of 2024 [2]

Market Performance - The Shanghai Composite Index rose by 0.26% to 3276 points, while the Shenzhen Component fell by 0.85% and the ChiNext Index dropped by 1.21%[1] - The Hang Seng Index closed down 1.91% at 21056.98 points, with the Hang Seng Tech Index declining by 3.72% and the Hang Seng China Enterprises Index down by 2.55%[1] - The total market turnover in Hong Kong was 220 billion HKD[1] Economic Indicators - U.S. retail sales increased significantly in March, with a month-on-month growth of 1.4%[1] - The U.S. Producer Price Index (PPI) for March showed a year-on-year increase of 2.7%[19] - China's GDP growth for Q1 was reported at 5.4% year-on-year[19] Federal Reserve and Trade Relations - Federal Reserve Chairman Jerome Powell downplayed interest rate cut expectations, emphasizing the need to prevent tariffs from causing persistent inflation[1] - China expressed an open attitude towards trade negotiations with the U.S., contingent on the U.S. showing more respect and appointing a liaison for talks[1][14] Sector Performance - Precious metals and hotel sectors showed strong performance, while the technology sector faced declines in both Hong Kong and the U.S. markets[1] - Shenzhen Holdings reported a 83.5% year-on-year increase in contract sales for Q1, amounting to approximately 3.133 billion RMB[12]

Production and Sales - For the period ended June 30, 2024, copper production at Ruashi Mine was 13,334 tons, while cobalt production was 681 tons, representing a decrease of 7.1% and 50.2% respectively compared to 2023[7]. - Ruashi Mine's overall copper production decreased by 8% from 14,357 tonnes in 2023 1H to 13,334 tonnes in 2024 1H, with copper cathode production at 11,130 tonnes, down 15% from 13,145 tonnes[8]. - Cobalt production dropped by 50% from 1,364 tonnes in 2023 1H to 681 tonnes in 2024 1H, attributed to lower ore feed grade and declining market prices[10]. - Kinsenda Mine produced 15,244 tonnes of copper in 2024 1H, down from 15,843 tonnes in 2023 1H[12]. - Copper production decreased by 5% to approximately 28,578 tonnes in 2024 1H from approximately 30,200 tonnes in 2023 1H, with Ruashi Mine's production down 7% to approximately 13,334 tonnes[31]. - Copper sales volume decreased to 26,222 tonnes in 2024 1H from 29,324 tonnes in 2023 1H, while cobalt sales volume increased to 991 tonnes from 172 tonnes[38]. Revenue and Financial Performance - Total revenue for the period was US$106,024,000, an increase of 16.3% from US$91,171,000 in 2023[7]. - The Group's revenue for 2024 1H was US$283.0 million, a decrease of 14% from US$327.1 million in 2023 1H[35]. - Revenue from copper sales was US$261,981,000, down from US$320,973,000 in 2023, indicating a decrease of about 18.3%[182]. - Revenue from cobalt sales was US$17,252,000, slightly down from US$17,513,000 in 2023, reflecting a decrease of approximately 1.5%[182]. - The Group's copper revenue from mining operations decreased by 5% to US$209.1 million in 2024 1H from US$221.0 million in 2023 1H[39]. - Gross profit increased by 52% from US$28.4 million in 2023 1H to US$43.0 million in 2024 1H, driven by higher copper revenue and lower production costs[49]. Costs and Expenses - Total expenses for exploration, development, and mining activities amounted to US$135.458 million for the period ended June 30, 2024[25]. - Cost of sales for mining operations decreased by 7% from US$177.9 million in 2023 1H to US$166.1 million in 2024 1H, primarily due to a 24% drop in processing costs and the absence of impairment loss[44]. - Selling and distribution costs rose by 5% from US$13.9 million in 2023 1H to US$14.6 million in 2024 1H, attributed to increased cobalt sales volume and higher transportation unit costs[58]. - The trading division recorded a turnover of US$60.3 million in 2024 1H, a 44% decrease from US$107.6 million in 2023 1H, due to a more focused selection of mineral sources[33]. Market Conditions and Future Outlook - The management is optimistic about future market conditions and aims to expand its operational footprint in the DRC[5]. - The company anticipates a rise in copper prices in the late third and fourth quarters of 2024 due to increased infrastructure spending in China[85]. - Global economic uncertainties are expected to continue affecting copper and cobalt markets, making operations challenging in the near future[89]. - The company aims to enhance quality and efficiency while reducing production costs to improve profitability under unfavorable market conditions[91]. Projects and Developments - The Group operates two mines, Ruashi and Kinsenda, and has one project at an advanced development stage (Musonoi Project) and one advanced exploration project (Lubembe Project)[5]. - The Musonoi Project has a mine life of 16 years with resources of 1,085 kt Cu and 363 kt Co, and reserves of 606 kt Cu and 174 kt Co as of December 31, 2023[17]. - The underground project at Musonoi is advancing as scheduled, with major works including a main decline ramp and a multi-purpose vertical shaft[17]. - The construction of the processing plant has been completed and is currently in the trial operation stage[18]. Shareholder Information and Corporate Governance - As of June 30, 2024, Jinchuan Group Co., Ltd. holds a total of 7,593,009,857 shares, representing 66.25% of the issued shares of the company[98]. - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the same period in 2023[82]. - The company has complied with all applicable code provisions of the Corporate Governance Code during the six months ended June 30, 2024[150]. - The Audit Committee, consisting of four independent non-executive Directors, reviewed the unaudited interim financial statements for the six months ended June 30, 2024[147]. Cash Flow and Financial Position - The net cash from operating activities for the six months ended June 30, 2024, was US$46,978,000, a significant improvement compared to a net cash used of US$17,153,000 in the same period of 2023[171]. - Cash and cash equivalents at June 30, 2024, were US$62,182,000, down from US$103,376,000 at the end of June 30, 2023[171]. - The company experienced a net increase in cash and cash equivalents of US$16,341,000 during the first half of 2024[171]. - Total assets as of June 30, 2024, were US$2.296 billion, an increase from US$2.170 billion as of December 31, 2023[196]. Debt and Financing - Total bank borrowings and overdrafts increased to US$336 million as of June 30, 2024, from US$278.5 million as of December 31, 2023[74]. - The principal of Musonoi Project loans increased by US$93.4 million in 2024 1H, partially offset by repayments from cash flow generated by Kinsenda Mine[50]. - The company has a term loan facility of US$350,000,000 for the development of the Musonoi Project, with a repayment period of 10 years from the first utilization date[101]. Share Option and Incentive Schemes - The previous share option scheme was terminated on June 26, 2024, with no options granted or exercised during its term[111]. - A new Share Incentive Scheme was approved and adopted on June 26, 2024, which is the only existing share incentive scheme of the Company[126]. - The maximum entitlement for each participant under the Share Option Scheme is limited to 1% of the total number of shares in issue within any 12-month period unless approved by shareholders[116].

Financial Performance - The company reported revenue of $283,032 thousand for the six months ended June 30, 2024, a decrease of 13.6% compared to $327,112 thousand for the same period in 2023[2] - Gross profit for the six months ended June 30, 2024, was $43,046 thousand, compared to $28,389 thousand in the same period of 2023, representing a significant increase[2] - The net profit for the period was $12,784 thousand, compared to a loss of $10,038 thousand in the same period of 2023, indicating a turnaround in performance[4] - Basic earnings per share for the six months ended June 30, 2024, was $0.07, compared to a loss of $0.10 per share in the same period of 2023[4] - The group reported a pre-tax profit of $19,295 thousand for the six months ended June 30, 2024, compared to a pre-tax loss of $6,409 thousand for the same period in 2023[15] - The company reported a consolidated profit after tax of $12.8 million in the first half of 2024, compared to a loss of $10.0 million in the same period of 2023[58] - Shareholders' profit for the first half of 2024 was $9.2 million, a turnaround from a loss of $12.5 million in the first half of 2023, attributed to rising copper prices and reduced production costs[59] Revenue and Sales - Revenue for the six months ended June 30, 2024, was $283,032 thousand, a decrease of 13.5% compared to $327,112 thousand for the same period in 2023[12] - Copper sales amounted to $261,981 thousand, down from $320,973 thousand, representing a decline of 18.3% year-over-year[12] - Cobalt sales were $17,252 thousand, slightly down from $17,513 thousand, indicating a decrease of 1.5%[12] - Revenue from copper sales in the first half of 2024 was $209.1 million, down from $221.0 million in the first half of 2023[36] - The trading division recorded a revenue of $60.3 million in the first half of 2024, a significant decrease of 44% from $107.6 million in the first half of 2023[38] - Revenue from mining operations in the first half of 2024 was $283.0 million, a decrease of 14% from $327.1 million in the first half of 2023[40] Production and Operations - The company produced approximately 28,578 tons of copper and 681 tons of cobalt in the first half of 2024, compared to 30,200 tons of copper and 1,364 tons of cobalt in the first half of 2023[36] - Copper production in the first half of 2024 was approximately 28,578 tons, a decrease of 5% compared to about 30,200 tons in the first half of 2023[37] - Cobalt production decreased by 50% from approximately 1,364 tons in the first half of 2023 to about 681 tons in the first half of 2024, due to lower feed grades and declining cobalt prices[37] - The Kinsenda mine's copper production in the first half of 2024 was approximately 15,244 tons, a decrease of 4% from about 15,843 tons in the first half of 2023[37] - The company has adjusted its production plan to reduce cobalt output and decided to suspend cobalt production in late May 2024 to allocate more resources to copper production[37] Financial Position - Total assets as of June 30, 2024, amounted to $1,980,457 thousand, an increase from $1,899,771 thousand as of December 31, 2023[5] - Current liabilities increased to $309,156 thousand as of June 30, 2024, compared to $253,268 thousand as of December 31, 2023[6] - Non-current liabilities stood at $827,685 thousand as of June 30, 2024, up from $767,346 thousand as of December 31, 2023[6] - The company’s cash and cash equivalents increased to $80,980 thousand as of June 30, 2024, compared to $61,381 thousand as of December 31, 2023[5] - The company’s total liabilities increased to USD 202,252,000 as of June 30, 2024, from USD 177,325,000 as of December 31, 2023[27] - Total bank borrowings and overdrafts increased to $336.0 million as of June 30, 2024, up from $278.5 million as of December 31, 2023[66] - The company's asset-to-liability ratio rose to 38.4% as of June 30, 2024, compared to 32.4% as of December 31, 2023, due to increased loans from affiliates and bank borrowings[67] Costs and Expenses - Total sales costs for the first half of 2024 were $226.4 million, down from $285.6 million in the first half of 2023[46] - The sales cost of the mining business decreased by 7% to $166.1 million in the first half of 2024, compared to $177.9 million in the same period of 2023, primarily due to a 24% reduction in smelting costs[47] - Net financial costs rose by 67% to $7.6 million in the first half of 2024, compared to $4.5 million in the same period of 2023, due to rising market interest rates and increased bank borrowings[50] - The total interest expense (before capitalization) increased by 72% to $18.9 million in the first half of 2024, up from $11.0 million in the same period of 2023, due to increased borrowings and rising market interest rates[50] - Administrative expenses remained relatively stable at $3.2 million in the first half of 2024, compared to $3.0 million in the same period of 2023[57] Market Outlook and Strategy - The company plans to continue its focus on mining operations and trading of mineral products, aiming for market expansion and potential new product development[8] - The group anticipates that copper prices will rise in the third and fourth quarters due to infrastructure projects in China[74] - The company projects a revenue growth of 10% for the next fiscal year, driven by increased production capacity and market expansion efforts[90] - The company is exploring market expansion opportunities in Africa, targeting a 25% increase in market share within the next two years[90] - A strategic acquisition of a local mining company is in progress, which is anticipated to enhance resource availability and operational efficiency[89] Dividends and Shareholder Returns - The company reported a total dividend amount of approximately HKD 25,004,000 (equivalent to about USD 3,206,000) for the year ending December 31, 2023, with a proposed final dividend of HKD 0.2 per share[21] - The company has not declared any dividends for the six months ending June 30, 2024[21] - The board has resolved not to declare any interim dividend for the six months ending June 30, 2024, consistent with the previous period ending June 30, 2023, which also had no interim dividend[79] - The board has approved a dividend payout of $0.02 per share, reflecting a commitment to returning value to shareholders amidst growth initiatives[90] Employee and Operational Changes - The group has 1,676 long-term employees and 3,948 contractor employees as of June 30, 2024, compared to 1,744 and 3,738 respectively as of December 31, 2023, indicating a reduction in long-term employees by approximately 3.9% and an increase in contractor employees by approximately 5.6%[78]