海外監管公告 此乃紫金礦業集團股份有限公司（「本公司」）登載於中華人民共和國上海證券交易所（「上 交所」）網頁的公告。 2026 年 3 月 2 日 中國福建 * 本公司之英文名稱僅供識別 证券代码：601899 证券简称：紫金矿业 编号：临 2026-013 紫金矿业集团股份有限公司 关于 2023 年股票期权激励计划第一个行权期自主行权结果 暨股份变动月度公告 本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。 重要内容提示： 2026 年 2 月期间，紫金矿业集团股份有限公司（以下简称"公司"）2023 年股票期权激励计划（以下简称"本次股权激励"）第一个行权期行权数量为 0 股。 截至本公告披露日，本次股权激励第一个行权期累计已行权并完成过户登 记的股票数量为 1,220 万股，占本期可行权总量的 93.13%。 根据规则，本次股权激励任一行权期启动后，至当期全部行权完成前，作 为 A+H 上市公司，公司需于每月结束后 2 个交易日内披露当月股票期权行权结果。 一、决策程序及信息披露 经公司于 2025 年 10 月 17 ...

Investment Rating - The report does not explicitly provide an investment rating for the colored metal industry. Core Insights - The colored metal industry plays a crucial role in national economic development and faces multiple ESG challenges, necessitating a focus on sustainable practices and high-quality development [4][6][7]. - The report emphasizes the importance of ESG performance in the colored metal industry, highlighting the need for improved disclosure and addressing core ESG issues [7][10]. - The industry is experiencing significant growth, with China's production of major metals accounting for 58% of global output, indicating its dominant position in the market [27][30]. Summary by Sections Section 1: Overview of the Colored Metal Industry - The colored metal industry includes the mining, smelting, and processing of non-ferrous metals such as copper, aluminum, lead, zinc, nickel, tin, and rare earth elements, which are vital to the national economy [15][20]. - The industry is characterized by a clear value chain, with upstream activities involving resource extraction and energy supply, while downstream activities focus on manufacturing and recycling [32][36]. Section 2: ESG Development in the Colored Metal Industry - The report identifies key ESG issues that the industry must address, including environmental impact, social responsibility, and governance practices [7][10]. - It highlights successful ESG practices from leading companies like Zijin Mining and China Aluminum, which serve as benchmarks for others in the industry [7][66][68]. Section 3: Leading Companies in the Colored Metal Industry - Zijin Mining is recognized as a benchmark enterprise in the industry, with significant copper production and a commitment to sustainable practices [66][67]. - China Aluminum is noted for its substantial production capacity and efforts in green transformation, controlling 20% of global alumina production [68][70]. - Huayou Cobalt is highlighted as a key player in the battery materials sector, demonstrating strong market penetration and innovative practices [70]. Section 4: Development Trends in China's Colored Metal Industry - The industry is undergoing structural changes characterized by a shift towards high-quality development, increased focus on ESG compliance, and technological innovation [67][73]. - The report indicates that the demand for colored metals, particularly in the renewable energy sector, is expected to grow significantly, driven by the rise of electric vehicles and other technologies [27][30].

FF301 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: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 紫金礦業集團股份有限公司 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601899 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,588,693,140 | RMB | | 0.1 | RMB | | 2,058,869,314 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | | | 本月底結存 | | | 20,588,693,140 | RMB | | 0.1 | RMB | | 2,058,869,3 ...

Core Viewpoint - The "14th Five-Year Plan" period marks a significant transformation in China's non-ferrous metal industry, transitioning from quantity accumulation to quality leap, enhancing global competitiveness and strategic importance [2]. Group 1: Achievements in Production and Economic Indicators - The production of major metals exceeded 80 million tons for the first time, with a projected output of 81.75 million tons by 2025, accounting for over 50% of global supply, with annual growth of 5% [4]. - Economic indicators improved significantly, with the number of large non-ferrous metal enterprises reaching 12,000 by 2025, a 39.2% increase from 2020, and total assets reaching 6.6 trillion yuan, with an average annual growth of 6.2% [5]. - The total import and export trade volume of non-ferrous metals is expected to reach 412.2 billion USD by 2025, with an average annual growth of 24.2%, and a notable shift towards high-value-added products [5]. Group 2: Structural Optimization and Layout Adjustment - The industry underwent deep structural adjustments, with a focus on supply-side structural reforms, leading to enhanced concentration and high-end production capabilities [7]. - The optimization of industrial layout has been achieved, with significant regional clustering in various provinces for different metals, improving resource allocation efficiency [8]. - The competitive strength of enterprises has increased, with leading companies emerging and specialized small and medium enterprises gaining advantages in niche markets [9]. Group 3: Innovation and Digital Empowerment - The industry has accelerated technological innovation, with significant advancements in equipment and processes, achieving world-leading levels in several technologies [11]. - High-end materials have seen breakthroughs, with domestic production capabilities improving significantly, particularly in critical materials like rare earths and high-purity metals [12]. - Digital transformation has progressed, with key processes achieving a CNC rate of 72.6% and equipment digitalization rate of 57.6%, enhancing operational efficiency [13]. Group 4: Green Low-Carbon and Circular Development - The industry has made substantial progress in green and low-carbon transformation, with energy consumption intensity decreasing significantly across various metal production processes [15]. - The recycling of non-ferrous metals has flourished, with a projected output of over 20 million tons by 2025, representing a quarter of the total output of common non-ferrous metals in China [17]. - The establishment of a comprehensive recycling system has been emphasized, contributing to resource and environmental sustainability [17]. Group 5: Supply Chain Stability and Safety Enhancement - The industry has strengthened resource security, with significant domestic resource development and enhanced overseas cooperation, increasing the resilience of supply chains [19]. - A robust quality standard system has been established, with numerous standards published to support product quality and brand influence [20]. - Safety production levels have improved, with ongoing efforts to enhance safety standards and practices across the industry [20]. Group 6: Open Cooperation and Global Governance - The industry has expanded its international presence, with significant overseas investments and resource development projects, enhancing global competitiveness [22]. - Progress has been made in international standardization, with a notable increase in the number of international standards developed [23]. - Corporate social responsibility initiatives have been actively pursued, enhancing the industry's reputation and contributing to local community development [24].

Group 1 - The core viewpoint of the article highlights the performance of the Nonferrous Metals ETF (招商) which opened with a gain of 2.04% at 2.548 yuan on March 2 [1] - The top holdings of the Nonferrous Metals ETF include Zijin Mining, which rose by 2.15%, and Northern Rare Earth, which increased by 1.86%, while Ganfeng Lithium saw a decline of 0.51% [1] - The ETF's performance benchmark is the CSI Nonferrous Metals Mining Theme Index return, managed by China Merchants Fund Management Co., Ltd., with a return of 149.70% since its establishment on June 21, 2023, and a 0.93% return over the past month [1] Group 2 - The article provides specific stock performance data for major companies within the ETF, including Shandong Gold rising by 3.57% and Zhongjin Gold increasing by 6.16% [1] - The article notes that the fund manager is Wang Ningyuan, indicating a leadership role in the ETF's management [1] - The article emphasizes the importance of market awareness and caution in investment decisions, reflecting the inherent risks in the financial market [1]

Core Viewpoint - The data indicates significant outflows of capital from various stocks, particularly in the metals and machinery sectors, reflecting investor sentiment and market dynamics as of March 2. Group 1: Stock Performance and Capital Outflow - Zijin Mining experienced a capital outflow of 1.369 billion, with a decline of 0.58% in stock price [1][2] - Luoyang Molybdenum saw a capital outflow of 0.945 billion, with a stock price decrease of 1.67% [1][2] - LEO Group had a capital outflow of 0.927 billion, with a significant drop of 5.71% in stock price [1][2] - Hunan Gold reported a capital outflow of 0.907 billion, despite a stock price increase of 5.38% [1][2] - Northern Rare Earth faced a capital outflow of 0.728 billion, with a decline of 3.08% in stock price [1][2] - Luxshare Precision recorded a capital outflow of 0.721 billion, with a decrease of 3.31% in stock price [1][2] Group 2: Additional Notable Stocks - Huasheng Tiancheng had a capital outflow of 0.703 billion, with a stock price increase of 4.42% [1][2] - Dongfang Fortune experienced a capital outflow of 0.607 billion, with a decline of 2.35% in stock price [1][2] - Kunlun Wanwei saw a capital outflow of 0.594 billion, with a stock price drop of 5.61% [1][2] - China Merchants Energy reported a capital outflow of 0.583 billion, with a stock price increase of 1.85% [1][2] - Baosteel had a capital outflow of 0.552 billion, with a slight increase of 1.23% in stock price [1][2] Group 3: Further Capital Outflows - Century Huatong faced a capital outflow of 0.533 billion, with a stock price decrease of 7.12% [3] - Tongling Nonferrous Metals reported a capital outflow of 0.514 billion, with a decline of 1.51% in stock price [3] - Sanhua Intelligent Control had a capital outflow of 0.501 billion, with a decrease of 3.34% in stock price [3] - Wangsu Science & Technology experienced a capital outflow of 0.500 billion, with a decline of 3.37% in stock price [3] - BlueFocus Communication Group saw a capital outflow of 0.494 billion, with a significant drop of 6.81% in stock price [3] - Runze Technology reported a capital outflow of 0.487 billion, with a decline of 2.74% in stock price [3] - Changyuan Tungsten had a capital outflow of 0.472 billion, with a notable increase of 7.39% in stock price [3] - Hunan Silver reported a capital outflow of 0.459 billion, with a stock price increase of 2.15% [3] - Shenghong Technology faced a capital outflow of 0.446 billion, with a decline of 1.65% in stock price [3]

Group 1 - The Materials ETF (159944) opened with a gain of 1.43%, priced at 1.846 yuan [1] - Key holdings in the Materials ETF include Zijin Mining (+2.15%), Luoyang Molybdenum (+1.71%), and Northern Rare Earth (+1.86%) [1] - The ETF's performance benchmark is the CSI All Share Materials Index, managed by GF Fund Management Co., Ltd., with a return of 82.05% since its inception on June 25, 2015, and a return of 3.93% over the past month [1]

Group 1 - The core viewpoint of the article highlights the performance of the Huatai-PineBridge ETF (159652) in the non-ferrous metal sector, which opened with a gain of 2.64% at 2.136 yuan [1] - The top holdings of the ETF include Zijin Mining, which rose by 2.15%, and Northern Rare Earth, which increased by 1.86%, while Ganfeng Lithium and Tianqi Lithium experienced declines of 0.51% and 1.08% respectively [1] - The ETF's performance benchmark is the CSI Sub-Industry Non-Ferrous Metal Theme Index, with a return of 107.95% since its inception on January 16, 2023, and a monthly return of 0.63% [1]

Summary of Zijin Mining Conference Call Company Overview - **Company**: Zijin Mining - **Industry**: Mining and Metals Key Points and Arguments Financial Projections - Zijin Mining expects net profit attributable to shareholders to reach **51-52 billion yuan** in 2025, representing an increase of over **150%** compared to **20 billion yuan** in 2022 [2][3] - The company aims to establish itself as a "green, high-tech, and top-tier international mining group" [2] Production Targets - **Lithium Carbonate**: Planned production of approximately **120,000 tons** in 2026, with contributions from various projects including: - **3Q Salt Lake**: 28,000 tons - **Lagao Salt Lake**: 20,000 tons - **Hunan Hard Rock Lithium Mine**: 30,000 tons - **Manono Project in Africa**: 35,000 tons - **Zangge Mining**: 11,000 tons [2][4][5] - By 2028, the target for lithium carbonate production is set to increase to **270,000 to 320,000 tons** [2][4] Copper Production - The copper production target for 2026 is set at **1.2 million tons**, with significant contributions from: - **Giant Dragon Copper Mine Phase II** - **Juno Copper Mine** - **Xietongmen Copper-Gold Mine** - **Serbia's Peji Copper-Gold Mine** [2][6] - The company anticipates that the recovery of the **Kamoa-Kakula Copper Mine** will be a key focus, although it is not expected to be the main source of copper production increase [2][6] Strategic Development - The company emphasizes a strategy of "mining for the benefit of society," aiming to foster local economic development in overseas projects to gain community and government support [2][5] - Zijin Mining is adjusting its strategic focus to include regions like Xinjiang, Tibet, and Central Asia to mitigate risks through regional diversification [2][5] Mergers and Acquisitions - The company is prioritizing the development of acquired projects while maintaining a keen interest in potential acquisitions, particularly in high-quality targets [7][8] - The acquisition of **United Gold** is expected to contribute an estimated **11-12 tons** of gold production in 2025, with plans to increase this to **25 tons** by 2028-2029 through technical upgrades [7][8] Regulatory Compliance and Asset Management - Zijin Mining is committed to complying with regulatory requirements and is considering the potential for asset restructuring to enhance the value of Zangge Mining, while respecting its independent status [8][9] - The company is also focused on asset securitization to better reflect its overall market value and intrinsic value [8][9] Dividend Policy - The company plans to evaluate the feasibility of increasing dividend payouts in response to market demands, balancing between dividends and reinvestment for long-term growth [11] Market Conditions and Risks - Zijin Mining acknowledges the impact of changing policies in resource-rich countries and aims to adapt its strategies accordingly, leveraging its experience in international operations [5][6] Future Outlook - The company aims for a significant increase in production and operational efficiency by 2035, with a focus on achieving top global rankings in key technical and economic indicators [4][9] This summary encapsulates the key insights from the conference call, highlighting Zijin Mining's strategic direction, production goals, and financial outlook while addressing potential risks and market conditions.

持续增长的矿业龙头 20260228 摘要 紫金矿业正经历战略转型，从全球主义转向本国优先，并从单纯追求经 济效率转向更强调供应安全，这可能导致未来更大的市场波动和更长的 影响周期。公司提出到 2028 年打造"绿色、高技术、一流的国际矿业 集团"的目标，并加速布局锂等新兴资源。 紫金矿业的发展可划分为四个阶段：早期发展（1993-2002），立足紫 金山金矿；资本市场与区域全球化（2003-2012），港股和 A 股上市； 全球化快速扩张（2013-2022），并购优质资源；以及新一轮快速上行 （2023 至今），市值突破万亿，并分拆紫金黄金国际上市。 紫金矿业通过多金属搭配构建"抗风险、抗周期"的资源组合，包括黄 金（安全资产）、铜（新技术驱动）和锂（绿色低碳），覆盖经济发展 的多个场景。目前在全球 18 个国家和地区拥有 30 多座矿山，运营体系 复杂度已具备头部矿企的管理能力。 2025 年，紫金矿业在《福布斯》全球上市公司 2000 强中排名第 251 位，在《财富》世界 500 强中排名第 365 位，显示其国际地位显著提 升。 Q&A 在"论道周期、持续增长"的框架下，如何理解当前所处周期的核心 ...