Core Insights - The West Pilbara Iron Ore Project, a joint venture between Baowu and Rio Tinto, has officially commenced operations, marking a significant milestone in Sino-Australian resource cooperation [1][2] - The project is designed to produce 25 million tons annually and will provide resource security for the Paraburdoo mining center for up to 20 years, reinforcing Baowu's strategic position in the global iron ore market [2] Group 1 - The total investment for the West Pilbara project is approximately 2.4 billion AUD, with Rio Tinto holding a 54% stake and Baowu holding 46% [2] - The project is expected to create long-term employment opportunities for over 880 local workers, enhancing social stability and sustainable development in the region [2] - The project incorporates local cultural heritage protection as a core consideration, demonstrating a commitment to responsible resource development [2] Group 2 - The project is seen as a benchmark for technological advancement and green efficiency in mining, aligning with the principles of low-carbon development [1] - Baowu aims to expand its international iron ore resource portfolio, with a focus on regions such as Australia and West Africa, establishing a foundation for a billion-ton production capacity [1] - The West Australian government and local officials recognize the project's significant economic impact, emphasizing ongoing support for the resource sector [2]

金十数据6月6日讯，中国宝武钢铁集团与全球矿业巨头力拓集团合资开发的澳大利亚西坡铁矿项目6日 正式投产。该项目位于西澳大利亚州皮尔巴拉地区，设计年产能为2500万吨。西坡铁矿项目总投资达20 亿美元，力拓集团和中国宝武分别持股54%和46%。项目主要设施包括一座初级破碎站和一条长达18公 里的输送系统，与力拓集团现有的选矿厂相连。 （新华社） 中企与力拓合资铁矿项目在澳大利亚正式投产 ...

宝武与力拓联合开发的澳大利亚西坡铁矿项目全面投产 智通财经6月6日电，宝武与力拓集团联合开发的西坡铁矿项目全面建成投产。据了解，西坡项目总投资 约24亿澳元，力拓持股54%、宝武持股46%，项目设计年产能为2500万吨。 ...

据了解，近年来，宝钢股份坚持以低碳产品研发为内核，重点实施低碳冶金技术变革、清洁能源结构优 化、系统能效极致提升、循环经济耦合深化、智慧制造AI赋能等五大举措，同时强化全链条数字化平 台、可持续供应链建设、减污降碳协同治理的支撑作用，构建起"1+5+3"的减碳行动框架。 本次活动上，宝钢股份与宝山区一同进行了区域生物多样性状况发布。近年来，宝钢股份与宝山区共同 组织开展区域陆生生物多样性、水生生物多样性和生物多样性相关传统知识调查。 初步结果显示，宝山区生物多样性本底资源总量优于全市平均水平，其中国家二级重点保护野生动物6 种，国家二级重点保护野生植物1种，上海市新纪录29种，并出现天目疣鳞苔、尖头麦蝽等新记录物 种。宝钢股份宝山基地通过创建超低排放A级企业和无废工厂，厂区生态环境显著提升，生物多样性日 渐丰富，初步调查已发现红隼等5种国家二级保护动物，以及牛背鹭等40多种中日、中澳政府候鸟保护 协定保护鸟类。 6月5日，宝钢股份（600019）与宝山区生态环境局共同举办世界环境日活动。该活动重点展示了宝钢股 份和宝山区近年来在绿色低碳、环境治理、生物多样性保护等方面的突破性成果，以及钢铁企业与地方 政府同向 ...

Group 1 - The Shanghai Composite Index opened high and fluctuated, with the CSI 300 Metals and Mining Index reported at 2405.31 points [1] - The CSI 300 Metals and Mining Index has increased by 2.29% in the past month, 3.98% in the past three months, and 9.43% year-to-date [1] - The CSI 300 Index is categorized into 10 primary industries, 26 secondary industries, over 70 tertiary industries, and more than 100 quaternary industries [1] Group 2 - The top ten holdings in the CSI 300 Metals and Mining Index are Zijin Mining (31.27%), Northern Rare Earth (6.45%), Baosteel (6.2%), Shandong Gold (5.8%), China Aluminum (5.62%), Luoyang Molybdenum (5.48%), Huayou Cobalt (4.91%), Zhongjin Gold (4.35%), Baogang Group (4.22%), and Ganfeng Lithium (3.75%) [1] - The market share of the CSI 300 Metals and Mining Index is 82.35% from the Shanghai Stock Exchange and 17.65% from the Shenzhen Stock Exchange [2] - The industry composition of the CSI 300 Metals and Mining Index includes precious metals (44.94%), industrial metals (21.54%), rare metals (19.00%), steel (11.62%), and other non-metal materials (2.90%) [2] Group 3 - The index samples are adjusted every six months, specifically on the second Friday of June and December, with temporary adjustments made under special circumstances [2] - When a sample is delisted, it is removed from the index, and any corporate actions such as acquisitions, mergers, or splits are handled according to maintenance guidelines [2] - Adjustments to the CSI 300 industry index samples occur in conjunction with changes to the CSI 300 Index samples [2]

中国上海市石门一路 288 号 电子邮件 E-mail: email@fangdalaw.com 兴业太古汇香港兴业中心二座 24 楼 电 话 Tel.: +86-21-2208 1166 邮政编码：200041 传 真 Fax.: +86-21-5298 5599 24/F, HKRI Centre Two HKRI Taikoo Hui 288 Shi Men Yi Road Shanghai, PRC 200041 FANGDA PARTNERS http://www.fangdalaw.com 上海市方达律师事务所 关于 宝山钢铁股份有限公司 差异化分红事项 之 法律意见书 2025 年 5 月 20 日 致：宝山钢铁股份有限公司 上海市方达律师事务所(以下简称"本所")是具有中华人民共和国法律执业资 格的律师事务所。根据宝山钢铁股份有限公司(以下称"宝钢股份"或"公司")的委 托，本所就宝钢股份 2024 年下半年度利润分配所涉及的差异化权益分派特殊除权 除息(以下称"本次差异化分红")相关事项出具本法律意见书。 本法律意见书依据《中华人民共和国公司法》《中华人民共和国证券法》《上 海证券交易所交易 ...

证券代码：600019 证券简称：宝钢股份 公告编号：临 2025-038 宝山钢铁股份有限公司2024年下半年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利人民币0.10元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/6/10 | － | 2025/6/11 | 2025/6/11 | 差异化分红送转： 是 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经公司2025 年 5 月 20 日召开的2024年度股东大会审议通过。 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 差异化分红送转方案： （1）本次差异化分红方案 公司 2024 年度股东大会审议通过了《关于 2024 年下半年度利润分配方案的 ...

Core Insights - The global hydrogen energy industry is experiencing a historic turning point, with China surpassing Japan in comprehensive patent competitiveness for the first time, marking a significant shift in clean energy technology leadership [1][2]. Group 1: Patent Competitiveness - China ranks first in four out of five key technology areas in hydrogen energy, including manufacturing, storage and transportation, safety management, and overall competitiveness [2]. - In the manufacturing sector, China holds 60% of global electrolyzer production capacity, significantly reducing green hydrogen equipment costs to one-fourth of those in Europe [2]. - China's patent score is 12.7 percentage points ahead of Japan, with an average of 27,000 patent applications per year over the past five years, double that of Japan [2][3]. Group 2: Policy and Market Support - The acceleration of policy support is evident, with the 2022 "Hydrogen Industry Development Medium- and Long-Term Plan" positioning hydrogen as a key component of the national energy system, aiming for a green hydrogen production target of 200,000 tons by 2025, which has already been exceeded in 2024 [3]. - Local governments have introduced 560 special policies to support hydrogen development, including innovative mechanisms like toll fee exemptions and non-chemical park hydrogen production [3]. - The demand market is robust, with China's hydrogen consumption reaching 28 million tons in 2023, accounting for 30% of global demand, driven by industrial applications such as Baowu Steel's hydrogen-based blast furnace [3].

| ○ 基金经理：柳军 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 累计任职时间：16年又3天 任职起始日期：2009-06-04 现任基金公司：华泰柏瑞基金管理有限公司 | | | 基金经理简介:柳军先生:中国国籍。监事.复旦大学财务管理硕士.2000-2001年任上海汽车集 团财务有限公司财务,2001-2004年任华安基金管理有限公司高级基金核算员,2004年7月加入 华泰柏瑞基金管理有限公司,历任基金率务部总监、上证红利ETF基金经理助理。2009年6月 | | | | | | | 现任基金资产 在管基金最佳 | | | 起任上证红利交易型开放式指数证券投资基金的基金经理。2010年10月起担任指数投资部副 总监。2011年1月至2020年2月任华泰柏瑞上证中小盘ETF基金、华泰柏瑞上证中小盘ETF联 | | | | | | | 总规模 | 任期回报 | | 接基金基金经理。2012年5月起任华泰和瑞沪深300交易型开放式指数证券投资基金、华泰柏 | | | | | | | 4232.91亿 ...

Summary of Key Points from the Conference Call Industry Overview - **Industry Focus**: Basic Materials, specifically gold, copper, aluminum, steel, and lithium sectors [2][3][6][7] Core Insights 1. **Gold Market**: - Consensus remains positive on gold, with potential prices reaching up to $6,000 [2][3] - Central bank buying continues to support gold prices, with minimal earnings impact from recent seismic activity at Kamoa mine estimated at less than 5% [3] 2. **Copper Supply**: - A shortage in copper concentrate is expected to persist, with supply increases projected between 100,000 to 1 million tons in 2025, insufficient to meet demand [6][8] - High operating costs at mining companies necessitate higher copper prices to incentivize new supply [6] 3. **Aluminum Sector**: - Aluminum margins remain healthy, with alumina prices stabilizing around Rmb3,000 per ton [2][6] - Hongqiao has relocated aluminum capacity to Yunnan, with plans for further expansion [7] 4. **Steel Industry**: - Weak sentiment in the steel market continues, with expectations of a crude steel production cut of 50 million tons to address supply-demand pressures [7] - Trade tensions and tariffs have negatively impacted steel exports, although some companies are exploring new markets [7] 5. **Lithium Market**: - The lithium market faces oversupply issues, with prices expected to decline unless production cuts occur [6][8] - Ganfeng anticipates a short-term drop in lithium prices due to tariff concerns and reduced costs for Australian miners [8] Additional Important Insights - **Zijin Mining**: - Zijin is optimistic about gold prices reaching $5,000 by 2026, driven by demand from electrification and power grid needs [7] - The company plans to maintain high capital expenditures to meet growth targets by 2028 [7] - **CMOC**: - CMOC's profits are closely tied to market price volatility, with a DRC cobalt export policy update expected soon [8] - The company is facing pressure on production costs due to higher sulfur costs and taxes [8] - **Market Sentiment**: - Overall market sentiment remains cautious, with trade tensions and macroeconomic factors influencing demand across various sectors [6][7][8] Conclusion The conference call highlighted a mixed outlook across the basic materials sector, with strong long-term potential for gold and copper, while challenges persist in the steel and lithium markets. Companies are adapting to market conditions through strategic capacity adjustments and exploring new opportunities amidst ongoing trade tensions.