| 能及時或準確確定而引致之任何申索或對於代扣代繳機制或安排之任何爭議，本公司概 | | | | | --- | --- | --- | --- | | 不負責，亦不承擔任何責任。 | | | | | 有關代預扣所得稅之更多補充 | 股東類型 | 稅率 | | | （如適用） | | | | | 非個人居民 | | | | | 本公司將於分派股息時，代表H股 | （非中國內地登記地址） | 10% | | | 個人持有人按10%的稅率預扣及繳 | | | | | 付個人所得稅。然而，適用於境外 | | | | | H股個人持有人的稅率或會因中國 | | | | | 與H股個人持有人居住國家（地 | | | | | 區）簽訂的稅收條約而異，而本公 | | | 司將會據此於分派股息時，代表H | | 股個人持有人預扣及繳付個人所得 | | | | | 稅。 | | | | | 非居民企業 | | | | | 對於非居民企業H股持有人，即以 | （非中國內地登記地址） | 10% | | | 非個人股東名義持有股份的任何股 | | | | | 東，包括但不限於香港中央結算 | | | | | （代理人）有限公司、其 ...

Financial Performance - Revenue for the year ended December 31, 2025, was approximately RMB 2,561.3 million, an increase of about 11.7% compared to RMB 2,292.4 million in 2024[5] - Net profit attributable to shareholders for 2025 was approximately RMB 194.1 million, up about 5.6% from RMB 183.8 million in 2024[5] - Gross profit margin for 2025 was approximately 25.3%, an increase of about 1.0 percentage points from 24.3% in 2024[5] - Basic earnings per share for 2025 was approximately RMB 0.09, an increase of RMB 0.01 from RMB 0.08 in 2024[5] - The total operating costs for 2025 were RMB 1,914,566 thousand, an increase of 10.3% from RMB 1,736,359 thousand in 2024[16] - The total profit for the group in 2025 was RMB 237,576 thousand, an increase from RMB 211,102 thousand in 2024, representing a growth of approximately 12.5%[30] - The consolidated net profit for 2025 was approximately RMB 169.9 million, remaining stable compared to RMB 169.8 million in 2024[65] Assets and Liabilities - Total assets as of December 31, 2025, amounted to RMB 10,423.2 million, compared to RMB 9,644.2 million in 2024[8] - Total liabilities as of December 31, 2025, were RMB 4,243.8 million, an increase from RMB 2,423.3 million in 2024[9] - Current liabilities totaled RMB 2,213.2 million in 2025, compared to RMB 1,574.5 million in 2024[9] - Non-current liabilities increased to RMB 2,030.6 million in 2025 from RMB 848.8 million in 2024[9] - The company reported a total equity attributable to shareholders of RMB 5,442,416 thousand, down from RMB 6,463,117 thousand in the previous year, reflecting a decrease of 15.8%[11] - The total liabilities and equity amounted to RMB 10,423,233 thousand, an increase of 8.1% from RMB 9,644,157 thousand in 2024[11] Revenue Sources - The main business income from electrolytic nickel was RMB 1,336,394 thousand, up 15.0% from RMB 1,161,909 thousand in 2024[16] - The sales volume of electrolytic nickel in 2025 was approximately 12,585 tons, a growth of about 25.9% from 9,998 tons in 2024[67] - The total revenue from the main business for 2025 was RMB 2,533.5 million, reflecting a growth rate of 12.1% compared to RMB 2,259.8 million in 2024[66] - The average selling price of electrolytic nickel in 2025 was approximately RMB 112,964 per ton, a decrease of about 3.9% from RMB 117,604 per ton in 2024; the average selling price of cathode copper was approximately RMB 71,505 per ton, an increase of 6.2% from RMB 67,326 per ton in 2024[56] Expenses - Selling expenses for 2025 increased by approximately 9.8% to RMB 19.3 million compared to RMB 17.6 million in 2024, primarily due to increased transportation costs[72] - Management expenses for 2025 rose by approximately 14.6% to RMB 234.7 million from RMB 204.9 million in 2024, mainly due to increased employee compensation and depreciation[73] - The group reported an impairment loss of approximately RMB 70.8 million in 2025, which partially offset the revenue[65] - In 2025, the group's financial expenses amounted to approximately RMB 51.1 million, an increase of RMB 16.6 million compared to RMB 34.5 million in 2024, primarily due to the acquisition of Huawao Mining and the associated bank loan interest expenses[74] Taxation - The income tax expense for 2025 was RMB 67,713 thousand, compared to RMB 41,308 thousand in 2024, reflecting a significant increase of approximately 63.9%[30] - The company continues to benefit from a preferential tax rate of 15% for certain subsidiaries, maintaining this rate for both 2025 and 2024[27][28][28] - The group recognized a deferred tax asset of RMB 26,029 thousand for losses in 2025, compared to RMB 3,307 thousand in 2024, indicating a significant increase in deferred tax assets[30] Investments and Acquisitions - The company completed the acquisition of Xinjiang Huawao Mining Co., Ltd. in June 2025, which is classified as a business combination under common control[11] - The group completed investments of approximately RMB 131.4 million in 2025 for the Karatunk mining project, enhancing daily mining and processing capabilities[59] - The group completed investments of approximately RMB 166.8 million in 2025 for the Fukang smelting plant to improve electrolytic nickel and cathode copper refining capabilities[60] - The group completed investments of approximately RMB 66.1 million in 2025 for mining upgrades and infrastructure projects in Xinjiang Yakes[61] - The group acquired a 51% stake in Huawo Mining for approximately RMB 1,098.08 million, completed on June 12, 2025, and consolidated its financial statements[63] Production and Operational Efficiency - The company produced 13,007 tons of electrolytic nickel in 2025, maintaining its position as the second-largest producer in China using sulfide nickel resources[54] - In 2025, the group produced 13,007 tons of electrolytic nickel, an increase of approximately 26.6% compared to 2024, and 9,007 tons of cathode copper, an increase of approximately 2.4%[55] - The group maintained a focus on safety and environmental protection, achieving safety production goals and adhering to national regulations in 2025[62] Future Outlook - The company plans to produce 13,000 tons of electrolytic nickel in 2026, representing an increase of approximately 7.8% compared to the 2025 production plan[95] - The projected production of cathode copper for 2026 is 9,762 tons, which remains unchanged from the 2025 production plan[95] - The company aims to produce 122,804 tons of fluorite powder in 2026[95] - The expected GDP growth target for China in 2026 is approximately 4.5%-5%[94] Shareholder Information - The board proposed a dividend distribution of approximately RMB 110.5 million, pending approval at the annual general meeting[91] - The company will withhold and pay personal income tax at a rate of 10% for H-share individual shareholders when distributing dividends[103] - For non-resident corporate H-share holders, the company will also withhold and pay corporate income tax at a rate of 10%[104] - The company disclaims any responsibility for claims arising from the tax status or treatment of H-share holders[105]

（於中華人民共和國註冊成立的股份有限公司） （股份代號：3833） 董事會會議通告 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 會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的 任 何 損 失 承 擔 任 何 責 任。 Xinjiang Xinxin Mining Industry Co., Ltd.* 新疆新鑫礦業股份有限公司 中 華 人 民 共 和 國，新 疆，2026年3月16日 於本公告日期，本公司執行董事為李江平先生；非執行董事為陳寅先生、 周傳有先生、王立建先生及胡承業先生；獨立非執行董事為胡本源先生、 黃 勇 先 生 及 李 道 偉 先 生；及 職 工 代 表 董 事 為 張 麗 女 士。 新 疆 新 鑫 礦 業 股 份 有 限 公 司（「本公司」）董 事 會（「董事會」）謹 此 宣 佈，將 於2026年3月27日（星 期 五）上 午11時30分 舉 行 董 事 會 會 議，以 審 議 及 批 准 （其 中 包 括）本 公 司 及 其 附 屬 公 司 ...

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: 新疆新鑫礦業股份有限公司 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 | H | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03833 | 說明 | H股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 950,580,000 | RMB | | 0.25 | RMB | | 237,645,000 | | 增加 / 減少 (-) | | | | | | | RMB | | | | 本月底結存 | | | 950,580,000 | RMB | | 0.25 | RMB | | 237,645,000 | | 2 ...

Core Viewpoint - Nickel stocks experienced a significant increase in early trading, driven by news of a landslide at the Morowali nickel mining center in Indonesia, which resulted in one worker's death and damage to several mining vehicles [1] Group 1: Market Reaction - Liqin Resources (02245) rose by 8.33% to HKD 29.64 - Xinjiang Xinxin Mining (03833) increased by 3.42% to HKD 2.72 - Zhongwei New Materials (02579) saw a rise of 3.4% to HKD 38.28 [1] Group 2: Impact of the Incident - The landslide is expected to affect nickel production in Indonesia, with the government maintaining a supportive stance on nickel prices, which are anticipated to remain above USD 18,000 [1] - The Indonesian government has projected nickel mining quotas for 2026 to be between 250-260 million tons, a decrease of over 34% compared to 379 million tons in 2025 [1] Group 3: Future Outlook - Guosen Securities noted that Indonesia is the world's largest nickel supplier and has a mature quota system, indicating potential policy adjustments to increase mining development costs and barriers [1] - Future fluctuations in nickel prices will largely depend on adjustments to Indonesia's nickel mining quotas, with the possibility of extreme tightening of supply by the government being a potential risk [1]

Core Viewpoint - Nickel stocks experienced a significant increase in early trading, driven by news of a landslide at the Morowali nickel mining center in Indonesia, which resulted in one worker's death and damage to several mining vehicles [1] Group 1: Stock Performance - Liqin Resources (02245) rose by 8.33%, trading at HKD 29.64 [1] - Xinjiang Xinxin Mining (03833) increased by 3.42%, trading at HKD 2.72 [1] - Zhongwei New Materials (300919) saw a rise of 3.4%, trading at HKD 38.28 [1] Group 2: Impact of the Landslide - The landslide at the Morowali nickel mining center is expected to affect nickel production in Indonesia [1] - According to Founder Securities, the Indonesian government is supportive of nickel prices, which are expected to remain above USD 18,000 [1] Group 3: Future Nickel Supply and Pricing - The Indonesian government projects nickel ore quotas for 2026 to be between 250-260 million tons, a decrease of over 34% compared to 379 million tons in 2025 [1] - Guosen Securities reports that Indonesia is the world's largest nickel supplier and has a mature quota system, indicating potential policy adjustments to increase mining development costs and barriers [1] - Future changes in nickel prices will largely depend on adjustments to Indonesia's nickel ore quotas, with the possibility of extreme tightening of supply by the Indonesian government being a potential risk [1]

Group 1 - Nickel stocks experienced a significant increase in early trading, with Liqin Resources rising by 8.33% to HKD 29.64, Xinjiang Xinxin Mining up by 3.42% to HKD 2.72, and Zhongwei New Materials increasing by 3.4% to HKD 38.28 [1] - A landslide at the Morowali nickel mining center in Indonesia resulted in one worker's death and the loss of several excavators, bulldozers, and dump trucks, which is expected to impact nickel production in Indonesia [1] - The Indonesian government is expected to set nickel mining quotas at 250-260 million tons for 2026, a decrease of over 34% compared to the 379 million tons quota for 2025 [1] Group 2 - According to Guosen Securities, Indonesia is the largest nickel supplier globally and has a mature quota system, indicating that the government aims to increase the barriers and costs of nickel mining through policy adjustments [1] - Future changes in nickel prices will largely depend on adjustments to Indonesia's nickel mining quotas, with the possibility of extreme tightening of nickel supply by the Indonesian government being a potential black swan event [1]

Company Progress - The company is advancing its A-share listing plan, with the board approving the issuance of A-shares in September 2025 and initiating IPO counseling in October 2025 [1] - In 2025, the company plans to start a 1.5 million tons mining and selection technology reform and electrolytic cell environmental improvement project, aiming to double production and output value over three years [1] Industry Policy and Environment - Indonesia has mandated the world's largest nickel mine, Weda Bay, to reduce ore quotas by 70%, which has led to an increase in nickel futures prices on the London Metal Exchange [2] - If Indonesia's policy results in a nickel supply-demand gap, nickel prices may experience significant rebound potential, indirectly affecting the nickel-focused operations of the company [2] Financial Performance - The company's mid-2025 financial report indicates a net profit decline of approximately 50% year-on-year, primarily due to falling nickel prices and rising costs [2] - The company's stock price has shown significant volatility from January to February 2026, with a drop of 5.26% on January 5 and a rise of 7.66% on February 11, although there are no clear institutional rating recommendations [2]

Core Viewpoint - The significant increase in the stock price of Xinjiang Xinxin Mining (03833.HK) on February 11, 2026, is primarily linked to expectations of tightening nickel market supply due to Indonesia's decision to cut mining quotas at the world's largest nickel mine, Weda Bay, by 70% [1] Company Fundamentals - Xinjiang Xinxin Mining fully owns four nickel-copper mines: Kalatongke, Huangshandong, Huangshan, and Xiangshan, making its business highly correlated with nickel prices [1] - According to Zhongyou Securities, nickel is one of the few non-significantly rising metals in the non-ferrous metal sector since 2024, and the Indonesian policy could create a supply-demand gap, suggesting potential for nickel price rebound [1] Stock Recent Performance - As of the close on February 11, 2026, Xinjiang Xinxin Mining's stock price was HKD 2.73, reflecting a daily increase of 10.08%, with a trading volume of approximately HKD 165 million, significantly higher than the previous trading day [1] - On the same day, the A-share non-ferrous metal sector also saw a general increase, with the Shenwan Non-ferrous Metal Index rising by 2.70%, indicating the market's overall reaction to metal supply events [1]

Core Viewpoint - Xinjiang Xinxin Mining (03833) experienced a significant increase in stock price, rising by 7.66% to HKD 2.67, with a trading volume of HKD 13.37 million [1] Group 1: Market Dynamics - The London Metal Exchange nickel futures rose by 2.6% [1] - Indonesia has mandated a 70% reduction in ore quotas from the Weda Bay nickel mine, the largest nickel mine globally [1] Group 2: Industry Analysis - China Postal Securities noted that nickel is one of the few non-participants in the 2024 year-to-date bull market for non-ferrous metals [1] - The firm believes that if Indonesian policies create a supply-demand gap, there could be a potential for significant price rebound [1] Group 3: Company Overview - Xinjiang Xinxin Mining fully owns four nickel-copper mines: Kalatongke, Huangshandong, Huangshan, and Xiangshan [1]