Core Viewpoint - The company announced a financing guarantee of 100 million yuan for its wholly-owned subsidiary, Kairui, to be provided by August 2025 [2] Group 1 - As of August 31, 2025, the total financing guarantees provided by the company to its subsidiaries and among its subsidiaries will amount to 279.2 million yuan [2] - The total financing guarantees represent 28.94% of the company's most recent audited net assets [2]

证券代码：600392 证券简称：盛和资源 公告编号：临 2025-050 盛和资源控股股份有限公司 关于为控股子公司提供担保的进展公告 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、完整性承担个别及连带责任。 重要内容提示： 被担保人名称：四川省乐山市科百瑞新材料有限公司（以下简称"科百瑞"） 为盛和资源下属全资孙公司。 本次担保金额及已实际为其提供的担保余额：2025 年 8 月，公司在 2024 年年 度股东大会批准的担保额度范围内为科百瑞提供的融资担保金额为 10,000.00 万元。 截止 2025 年 8 月 31 日，公司及下属控股子公司为科百瑞提供融资担保余额为 13,000.00 万元。 一、担保情况概述 公司第八届董事会第二十次会议及 2024 年年度股东大会先后审议通过了《关于 2025 年度预计担保额度的议案》，根据公司及下属控股子公司 2025 年度生产经营和对 外投资计划的融资需求，同意公司为合并范围内控股子公司提供不超过 450,000 万元 （含之前数）的担保额度，用于办理包括但不限于长、短期贷款、票据、信用证、保 ...

2025 年第三次临时股东会 会议资料 盛和资源控股股份有限公司 盛和资源•600392 二 ○ 二 五 年 九 月 600392 盛和资源控股股份有限公司 2025 年第三次临时股东会会议资料 参 会 须 知 为维护全体股东的合法权益，确保股东会的正常秩序和议事效率，根据《公司法》、 《证券法》、《公司章程》和中国证券监督管理委员会《上市公司股东会规则》的有关规 定，特制定如下参会须知，望出席股东会的全体人员严格遵守： 1、为能及时统计出席会议的股东（股东代理人）所代表的持股总数，务请登记出席 股东会的各位股东准时出席会议。 2、为保证股东会的严肃性和正常秩序，切实维护与会股东（股东代理人）的合法权 益，除出席会议的股东（股东代理人）、公司董事、董事会秘书、高级管理人员、公司聘 任律师、会计师及董事会邀请的人员外，公司有权依法拒绝其他人员进入会场。 3、股东参加股东会，依法享有发言权、表决权等各项权利，并履行法定义务和遵守 有关规则。对于干扰股东会秩序和侵犯其他股东合法权益的，将报告有关部门处理。 4、股东会召开期间，股东可以发言。股东要求发言时可先举手示意，经会议主持人 许可后，方可发言或提出问题。股东要 ...

Investment Rating - The report maintains a positive outlook on the non-ferrous metal sector, particularly under the current easing cycle, with a focus on resource stocks [2][3]. Core Insights - Recent weak employment data in the US has led to increased expectations for interest rate cuts, influencing the metal market. Attention is drawn to upcoming inflation data from China and the US to avoid unexpected market disruptions [2]. - Gold has shown strong performance, driven by monetary easing, loss of Federal Reserve independence, and rising European risks, with expectations for continued price increases following a technical breakout [2]. - The report highlights that many metal prices are expected to strengthen throughout the year, with continuous upward revisions in company EPS forecasts. Key metals to watch include copper, gold, rare earths, tungsten, antimony, cobalt, and aluminum [2][3]. Industry Overview - The non-ferrous metal sector has shown a significant increase in stock performance, with the industry index rising by 2.12% this week, ranking third among sectors. Precious metals led with a 10.73% increase, followed by energy metals at 5.86% [4]. - The report notes that the total market capitalization of the sector is approximately 536.72 billion, with 235 listed companies [3]. - The report emphasizes the strong performance of tungsten prices due to supply constraints and robust demand, particularly in military and renewable energy sectors [7]. Key Metal Performance - Copper: As of September 4, copper inventories in major regions increased by 0.35 million tons to 1.406 million tons, while LME inventories decreased by 950 tons to 158,000 tons. The report maintains a positive long-term outlook for copper prices, citing historical low valuations [4][5]. - Aluminum: Domestic aluminum ingot inventories reached 626,000 tons, with a slight increase. The report suggests that while the aluminum market is under pressure, long-term fundamentals remain positive [5]. - Precious Metals: Gold and silver prices have increased, with gold reaching $3,587 per ounce, up 4.0% week-on-week. The report anticipates continued strength in precious metal prices due to dovish signals from the Federal Reserve [7]. Strategic Recommendations - The report recommends focusing on companies involved in copper, aluminum, tungsten, and rare earths, highlighting specific firms such as Zijin Mining, China Nonferrous Mining, and Jiangxi Copper [4][5]. - For precious metals, companies like Lingbao Gold and Shandong Gold are noted as key players to watch [7]. - In the lithium and cobalt sectors, the report suggests monitoring companies like Huayou Cobalt and Luoyang Molybdenum due to expected supply tightness and price increases [7].

Summary of Key Points Core Viewpoint - Shenghe Resources (600392) experienced a significant stock price decline of 15.81% this week, closing at 22.9 yuan as of September 5, 2025, after reaching a nearly one-year high of 27.66 yuan on September 1, 2025 [1]. Shareholder Changes - As of August 29, 2025, the number of shareholders for Shenghe Resources reached 233,700, an increase of 80,200 shareholders or 52.22% since June 30, 2025 [1][3]. - The average number of shares held per shareholder decreased from 11,400 shares to 7,500 shares, with the average market value of shares held being 204,000 yuan [1]. Company Announcements - Shenghe Resources announced an adjustment in the acquisition price for Peak Rare Earths Limited from 158 million AUD (approximately 742.6 million yuan) to 195 million AUD (approximately 916.5 million yuan) due to a significant increase in domestic and international rare earth market prices [1][3]. - The implementation entity for the acquisition has changed from Ganzhou Chenguang Rare Earth New Materials Co., Ltd. to Shenghe Resources (Singapore) Co., Ltd., with the acquisition to be funded using its own overseas capital [1]. - The transaction has received approval from the Tanzania Mining Commission but still requires approval from the Tanzania Fair Competition Commission, the shareholders' meeting of Peak, and the Australian court; failure to obtain timely approvals may result in the termination of the transaction [1].

Group 1 - The company held a half-year performance briefing on September 5, 2025, to discuss its operational results and financial indicators with investors [1] - The company aims to focus on its rare earth business while also considering zirconium-titanium and other rare resources, emphasizing quality improvement and increased cash dividends to enhance investor satisfaction [2][16] - The company reported a significant decline in rare earth production in the first half of 2025, primarily due to industry policies and international circumstances, leading to a reduction in high-value product output [11][16] Group 2 - The company has approximately 25,400 tons of rare earth smelting and separation capacity, with most facilities operating at high utilization rates, except for one facility currently under relocation [3] - The company is actively exploring global resource projects and has established a dual circulation development model combining international resources with domestic industry [9][16] - The company has adjusted the acquisition price for Peak Rare Earths Limited from AUD 15.8 million to AUD 19.5 million due to significant changes in the rare earth market [20][24] Group 3 - The company has diversified its raw material supply channels, primarily sourcing light rare earth materials from domestic and international mines, ensuring that the cessation of supply from MP company will not significantly impact operations [16] - The company’s inventory increased to CNY 5.234 billion as of June 30, 2025, with a composition mainly of raw materials, work-in-progress, and finished goods [12][18] - The company is optimistic about the future of the zirconium-titanium market and is actively upgrading its overseas zirconium-titanium heavy sand resource projects to improve performance [5][12]

Group 1 - The company announced an adjustment to the acquisition price of Peak Rare Earths Limited, increasing it from AUD 158 million (approximately RMB 742.6 million) to AUD 195 million (approximately RMB 916.5 million) [1][2][3] - The adjustment was made due to significant changes in the domestic and international rare earth market, with major rare earth product prices experiencing sustained and substantial increases [2] - The adjusted acquisition price remains within the valuation range of AUD 170 million to AUD 196 million as per the original valuation report [2][3] Group 2 - The implementation subject of the acquisition was changed from Ganzhou Morning Light Rare Earth New Materials Co., Ltd. to Shenghe Singapore, which currently holds 19.7% of Peak's shares [2] - The acquisition process has received approval from the Tanzania Mining Commission, but still requires approvals from the Tanzania Fair Competition Commission, Peak's shareholders meeting, and the Australian court [3] - The adjustment in acquisition price is expected to facilitate the progress of the acquisition while remaining within the company's acceptable range and maintaining commercial rationality [3]

证券日报网讯9月5日晚间，盛和资源（600392）发布公告称，公司于2025年6月9日召开2025年第二次临 时股东会，审议通过了《关于修改 <公司章程> 暨取消监事会的议案》，其中有涉及到修改公司住所的 条款。近日，公司已完成公司住所变更登记工作，并取得成都市市场监督管理局换发的《营业执照》。 ...

证券代码：600392 证券简称：盛和资源 公告编号：临 2025-048 盛和资源控股股份有限公司 关于 2025 年半年度业绩说明会召开情况的公告 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、完整性承担个别及连带责任。 盛和资源控股股份有限公司（以下简称"公司"）于 2025 年 8 月 29 日在《中 国证券报》《上海证券报》《证券时报》《证券日报》及上海证券交易所网站披露 了《盛和资源控股股份有限公司关于召开 2025 年半年度业绩说明会的公告》（公 告编号：临 2025-041）。2025 年 9 月 5 日 9:30 时至 11:30 时，公司在上海证券交 易所上证路演中心（网址：http://roadshow.sseinfo.com/）以自行视频录制与网 络文字互动形式召开了公司 2025 年半年度业绩说明会。现将本次业绩说明会的有 关事项公告如下： 一、本次业绩说明会召开情况 2025 年 9 月 5 日，公司总经理黄平先生、副总经理兼董事会秘书郭晓雷先生、 副总经理兼财务总监李抗先生、独立董事赵发忠先生出席了本次说明会。公司针 ...

证券代码：600392 证券简称：盛和资源 公告编号：临 2025-049 特此公告。 盛和资源控股股份有限公司董事会 2025 年 9 月 6 日 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、完整性承担个别及连带责任。 盛和资源控股股份有限公司（以下简称"公司"）于 2025 年 6 月 9 日召开 2025 年第二次临时股东会，审议通过了《关于修改<公司章程>暨取消监事会的议案》, 其中有涉及到修改公司住所的条款。 近日，公司已完成公司住所变更登记工作，并取得成都市市场监督管理局换发 的《营业执照》，《营业执照》信息中公司住所变更为四川省成都市双流区怡心街 道怡腾路 399 号，《营业执照》其他信息不变。 盛和资源控股股份有限公司 关于完成工商变更登记并取得换发《营业执照》的公告 ...