关于召开 2025 年半年度业绩说明会的公告 本公司董事会、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： 会议召开时间：2025 年 10 月 21 日（星期二）下午 15:00—16:00 会议召开地点：上海证券交易所上证路演中心 证券代码：600338 证券简称：西藏珠峰 公告编号：2025-033 西藏珠峰资源股份有限公司 （网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心视频录播和网络文字互动 投资者可于 2025 年 10 月 14 日（星期二）至 10 月 20 日（星期一）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 （zhufengdb@zhufenggufen.com）进行提问。公司将在说明会上对投资者普遍关 注的问题进行回答。 西藏珠峰资源股份有限公司（以下简称"公司"）已于 2025 年 8 月 26 日发 布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半 年度经营成果、财务状况，公司计划于 ...

Group 1 - Heavy snowfall in Dingri County has affected tourist attractions such as Mount Everest, Rongxar Valley, Gama Valley, and Cho Oyu, leading to icy road conditions and low visibility, making them unsafe for travel [1] - Tourists trekking in the Gama Valley area experienced disruptions due to the snowfall on the night of October 4, with local authorities taking immediate action to address the situation [1] - The Dingri County government is closely monitoring the situation and will announce the reopening times for the affected scenic areas through official channels [1]

Core Viewpoint - The domestic natural gas heavy truck market showed signs of recovery in August 2025, with sales reaching 16,700 units, a year-on-year increase of 36%, ending a five-month decline [1][4][13]. Group 1: Market Performance - In the first eight months of 2025, cumulative sales of natural gas heavy trucks reached 122,200 units, representing a year-on-year decline of 12%, with a net decrease of approximately 16,700 units compared to the same period last year [1][17]. - The sales of natural gas heavy truck engines in August 2025 were 16,700 units, marking a 36% increase year-on-year, and surpassing the sales from August 2024 by over 6,600 units [4][13]. Group 2: Engine Specifications - The main displacement ranges for natural gas heavy truck engines in the first eight months of 2025 were 12-13L and 14-15L, accounting for 42.60% and 40.07% respectively, while engines over 15L accounted for 3.80% [6]. - In terms of horsepower, the primary ranges were 400-500 horsepower and 500-600 horsepower, comprising 37.34% and 44.76% of the market, with super high horsepower (≥600 horsepower) models accounting for 15.48% [9][10]. Group 3: Market Share and Competitors - In August 2025, five companies sold over 1,000 units of natural gas heavy truck engines, with Weichai leading with 9,048 units and a market share of 54.17%, marking its eighth consecutive month at the top [15]. - For the first eight months of 2025, Weichai sold 63,400 units, holding a market share of 51.88%, while Cummins (Fukang + Dongkang) sold 24,100 units with a market share of 19.75% [21]. Group 4: Future Outlook - The natural gas heavy truck market has shown signs of recovery in August, but the cumulative decline of 12% raises questions about the potential for a turnaround in the remaining months of 2025 [27]. - The market currently has only eight active participants, prompting speculation about the possibility of new entrants in the future [27].

Core Insights - The metal lead concept index increased by 0.65%, ranking 10th among concept sectors, with 16 stocks rising, including Shengtun Mining, Hunan Silver, and Xingye Silver Tin, which rose by 5.35%, 5.02%, and 4.72% respectively [1] - The lead metal sector saw a net inflow of 0.92 billion yuan from main funds, with 12 stocks receiving net inflows, and 6 stocks exceeding 30 million yuan in net inflows, led by Shengtun Mining with a net inflow of 1.42 billion yuan [2] - The leading stocks in terms of net inflow ratio included Zhihui Agriculture, Hunan Silver, and Xingye Silver Tin, with net inflow ratios of 11.05%, 7.73%, and 5.58% respectively [3] Stock Performance - Shengtun Mining had a daily increase of 5.35% with a turnover rate of 9.12% and a main fund flow of 141.97 million yuan, resulting in a net inflow ratio of 5.57% [3] - Hunan Silver increased by 5.02% with a turnover rate of 13.29% and a main fund flow of 36.92 million yuan, leading to a net inflow ratio of 1.82% [3] - The stocks with the largest declines included Wolong New Energy, Tibet Zhufeng, and Huayu Mining, which fell by 3.24%, 1.90%, and 1.62% respectively [1] Fund Flow Analysis - The top stocks by main fund inflow included Baiyin Nonferrous with a net inflow of 1.04 billion yuan and Zijin Mining with 886.34 million yuan [2] - The overall performance of the lead metal sector indicates a positive sentiment among investors, as evidenced by the significant net inflows into leading stocks [2][3]

Core Viewpoint - A significant block trade of Tibet Everest occurred on September 25, with a transaction volume of 835,700 shares and a transaction amount of 10.5883 million yuan, indicating a premium of 0.24% over the closing price of the day [2][3]. Group 1: Trading Activity - The block trade price was 12.67 yuan, while the closing price for Tibet Everest on the same day was 12.64 yuan, reflecting a slight decline of 0.47% [2][3]. - The buyer of the block trade was from Caitong Securities Co., Ltd., Hangzhou Wen'er West Road Securities Business Department, and the seller was from China Galaxy Securities Co., Ltd., Hangzhou Dongning Road Securities Business Department [2][3]. Group 2: Financial Metrics - The stock's turnover rate for the day was 4.19%, with a total trading volume of 488 million yuan and a net outflow of main funds amounting to 15.6558 million yuan [2]. - Over the past five days, the stock has seen a cumulative decline of 0.94%, with a total net outflow of funds reaching 91.4784 million yuan [2][3]. - The latest margin financing balance for the stock is 886 million yuan, which has decreased by 5.2932 million yuan over the past five days, representing a decline of 0.59% [3].

Core Insights - On September 25, Tibet Everest conducted a block trade of 835,700 shares, with a transaction value of 10.5883 million yuan, accounting for 2.12% of the total transaction volume for the day [1][2] - The transaction price was 12.67 yuan, which represents a premium of 0.24% over the market closing price of 12.64 yuan [1][2] Summary by Categories Trading Activity - The block trade involved 835,700 shares of Tibet Everest [1][2] - The total transaction amount reached 10.5883 million yuan [1][2] - The trade constituted 2.12% of the total trading volume on that day [1][2] Pricing Information - The executed price for the shares was 12.67 yuan [1][2] - This price reflects a slight premium of 0.24% compared to the market closing price of 12.64 yuan [1][2]

Core Insights - The Northwest Nonferrous Geological Exploration Group's Physical and Chemical Exploration Team has achieved breakthroughs in geological technical services in Tajikistan's Alden-Tokpan mining area in collaboration with Tibet Summit Resources Co., Ltd [1][2] - The project emphasizes technological innovation and digital transformation, with key technologies reviewed by the Tajikistan National Mineral Resources Reserve Committee [1] Group 1 - Since March, the company has sent five technical experts to Tajikistan to participate in mining technical management [1] - In late July, the technical team utilized a high-standard digital mining model to validate important technical indicators, which became a crucial basis for the "exploration to mining" procedures in the Belyavl mining area [1] - The team systematically organized historical exploration data and established a comprehensive electronic retrieval system covering "geological exploration - digital archives - development supervision," significantly improving data retrieval and analysis efficiency [1] Group 2 - In the first half of the year, the company strengthened technical guidance and supervision for exploration units in Tajikistan, forming a specialized geological team and developing multi-dimensional exploration models [1] - The scientific exploration plans effectively promoted deep and peripheral exploration to increase reserves, extending the service life of the mining operations [1][2] - The company maintains a strong technical cooperation relationship with Tibet Summit Resources, leveraging three major technical platforms from the Chinese Geophysical Society to enhance collaborative efforts [2]

Group 1 - The company focuses on resource industries, specifically developing non-ferrous metal mines for lead, zinc, copper, and silver in Tajikistan [1] - The company is also engaged in lithium salt lake resource development in Argentina [1] - Currently, the company has no plans or investments in solid-state batteries and energy storage sectors [1]

Core Viewpoint - Tibet Summit's stock price has shown fluctuations, with a recent decline of 2.07% and a year-to-date increase of 24.73%, indicating volatility in market performance [1]. Group 1: Stock Performance - As of September 16, Tibet Summit's stock price was 13.24 CNY per share, with a total market capitalization of 12.104 billion CNY [1]. - The stock has experienced a 1.34% decline over the last five trading days, a 10.15% increase over the last 20 days, and a 27.12% increase over the last 60 days [1]. Group 2: Financial Performance - For the first half of 2025, Tibet Summit reported a revenue of 1.123 billion CNY, representing a year-on-year growth of 53.53%, and a net profit attributable to shareholders of 301 million CNY, reflecting a 135.08% increase [2]. Group 3: Shareholder Information - As of August 20, the number of shareholders for Tibet Summit increased to 113,100, up by 2.81%, while the average circulating shares per person decreased by 2.74% to 8,085 shares [2]. - The company has distributed a total of 1.147 billion CNY in dividends since its A-share listing, with 50.281 million CNY distributed in the last three years [3]. Group 4: Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder, holding 16.9817 million shares, an increase of 7.0329 million shares from the previous period [3]. - Shenwan Hongyuan Securities Limited was the sixth largest circulating shareholder, holding 13.0722 million shares, a decrease of 1.0868 million shares [3].

Core Viewpoint - The domestic internal combustion engine sales in August 2025 reached 4.4476 million units, showing a month-on-month increase of 1.94% and a year-on-year increase of 17.63%, indicating a positive trend in the automotive market driven by macro policies and industry adjustments [1] Summary by Sections Internal Combustion Engine Sales - In August 2025, internal combustion engine sales were 4.4476 million units, with a cumulative sales of 34.6006 million units from January to August, reflecting a year-on-year growth of 14.97% [1] - The commercial vehicle market, particularly multi-cylinder diesel engines, also showed strong performance with sales of 152,000 units in August, marking a month-on-month increase of 9.04% and a year-on-year increase of 11.79% [13] Diesel Engine Sales - Diesel engine sales in August 2025 totaled 372,500 units, with a month-on-month increase of 1.42% and a year-on-year increase of 5.56%. Cumulative sales from January to August reached 3.4046 million units, reflecting a year-on-year growth of 4.57% [2] Multi-Cylinder Diesel Engine Performance - Multi-cylinder diesel engine sales in August reached 306,700 units, with a month-on-month increase of 6.08% and a year-on-year increase of 7.15%. Cumulative sales from January to August were 2.7508 million units, showing a year-on-year growth of 4.47% [4] - The top ten companies in cumulative sales accounted for 77.95% of the total multi-cylinder diesel engine sales, slightly up from 77.85% in the previous month [4] Company Rankings and Performance - Weichai maintained its leading position with sales of 70,000 units in August, achieving a month-on-month growth of 29.88%. Yuchai and Yunnei followed with sales of 41,000 and 22,300 units, respectively [6] - Cumulative sales data for the first eight months showed Weichai at 500,400 units, Yuchai at 393,600 units, and Yunnei at 235,500 units, with respective market shares of 18.19%, 14.31%, and 8.56% [9][11] Commercial Vehicle Multi-Cylinder Diesel Engine Sales - In August, commercial vehicle multi-cylinder diesel engine sales reached 151,000 units, with cumulative sales from January to August at 1.3141 million units, reflecting a year-on-year growth of 4.44% [12] - Weichai led the commercial vehicle multi-cylinder diesel engine market with cumulative sales of 278,100 units, holding a market share of 21.16% [16] Market Outlook - Despite being a traditional off-season, the performance of multi-cylinder diesel engines in August was commendable, with expectations for a strong demand in the upcoming peak season [20]