二、董事会会议审议情况 会议由董事长王健先生主持，经与会董事认真审议，以书面表决形式审议通 过如下决议： 证券代码：600490 证券简称：鹏欣资源 公告编号：临 2025-034 鹏欣环球资源股份有限公司 第八届董事会第十四次会议决议公告 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个别及连带责任。 一、董事会会议召开情况 鹏欣环球资源股份有限公司（以下简称"公司"）第八届董事会第十四次会 议于 2025 年 10 月 24 日（星期五）以现场结合通讯方式召开，会议应到董事 5 名，实到董事 5 名，有效表决票 5 票，本次会议的召开符合《公司法》和《公司 章程》的有关规定。 2025 年 10 月 28 日 （一）审议通过《公司 2025 年第三季度报告》 《公司 2025 年第三季度报告》详见上海证券交易所网站(www.sse.com.cn)。 表决结果：5 票同意，0 票反对，0 票弃权。 本议案在提交董事会审议前已经公司董事会审计委员会审议通过。 特此公告。 鹏欣环球资源股份有限公司董事会 ...

Financial Performance - The company's operating revenue for the third quarter was ¥1,454,841,176.49, a decrease of 24.23% compared to the same period last year[3]. - Year-to-date operating revenue reached ¥4,129,339,628.68, an increase of 26.83% year-over-year, driven by significant growth in gold, copper, and cobalt business[3][8]. - The total profit for the third quarter was ¥156,026,780.50, with a year-to-date total profit of ¥313,251,137.62, reflecting a year-over-year increase of ¥498 million[3][8]. - The net profit attributable to shareholders for the third quarter was ¥92,585,306.46, with a year-to-date net profit of ¥234,052,570.29[3]. - The company achieved a revenue of RMB 4.129 billion for the reporting period, representing a year-on-year growth of 26.83%[12]. - The total profit for the period was RMB 313 million, with a net profit attributable to shareholders of RMB 234 million, marking a significant turnaround from losses in the previous year[12]. - The company’s total profit for the first three quarters of 2025 was ¥313,251,137.62, recovering from a loss of ¥185,100,396.24 in the same period of 2024[23]. - Net profit for the first three quarters of 2025 was ¥248,740,038.57, compared to a net loss of ¥186,704,983.23 in the same period of 2024[24]. - The company reported a comprehensive income total of ¥223,015,693.42, recovering from a loss of ¥190,678,623.88 in the previous year[24]. Production and Sales - The company reported a significant increase in gold production, with a total output of 963.76 kg, and sales of 773.38 kg, contributing to revenue growth[8]. - Gold production reached 963.76 kg, with sales of 773.38 kg, resulting in revenue of RMB 583 million, an increase of RMB 583 million year-on-year[12]. - The cobalt hydroxide business saw a sales volume of 1,236 tons, an increase of 986 tons year-over-year, resulting in revenue of ¥2.45 billion, a growth of 897.59%[8]. - The copper business generated revenue of RMB 1.178 billion, reflecting a year-on-year growth of 24.73%[13]. - The cobalt hydroxide business saw a remarkable revenue increase of 897.59%, totaling RMB 245 million due to market price rebounds[13]. Assets and Equity - The company's total assets increased to ¥7,672,661,924.98, up 5.87% from the end of the previous year[4]. - Shareholders' equity attributable to the company reached ¥6,347,198,564.18, a 4.46% increase from the previous year-end[4]. - Total assets at the end of the reporting period were RMB 7.673 billion, up 5.87% from the previous year[12]. - Shareholders' equity attributable to the company reached RMB 6.347 billion, an increase of 4.46% compared to the end of the previous year[12]. - The company's total assets reached CNY 7,672,661,924.98, compared to CNY 7,246,999,517.83 at the end of 2024, reflecting an increase of approximately 5.9%[19]. - The company's equity attributable to shareholders rose to CNY 6,347,198,564.18, compared to CNY 6,076,056,209.00, which is an increase of approximately 4.5%[20]. Cash Flow and Financing - As of September 30, 2025, the company had a total of CNY 1,147,099,481.92 in cash and cash equivalents, an increase from CNY 839,333,943.72 at the end of 2024, representing a growth of approximately 36.7%[18]. - The total current assets amounted to CNY 3,511,906,868.35, up from CNY 2,870,760,549.76, indicating a growth of about 22.3% year-over-year[18]. - Cash flow from operating activities generated a net amount of ¥498,254,237.85, a significant recovery from a negative cash flow of ¥467,793,346.62 in the previous year[27]. - Cash inflow from investment activities totaled ¥570,194,060.77, down from ¥1,158,075,129.84 in the same period of 2024[27]. - The net cash flow from investment activities was -$227.8 million, a significant decrease compared to $695.2 million in the previous period[28]. - Total cash inflow from financing activities was $1,015.2 million, up from $871.2 million year-over-year[28]. - The net cash flow from financing activities was -$63.7 million, an improvement from -$117.9 million in the prior year[28]. - The ending balance of cash and cash equivalents was $683.3 million, compared to $610.7 million at the end of the previous period[28]. - Cash outflow from investment activities totaled $798.0 million, an increase from $462.9 million year-over-year[28]. - Cash outflow from financing activities amounted to $1,078.9 million, up from $989.1 million in the previous year[28]. - The cash and cash equivalents net increase was $203.8 million, compared to $109.8 million in the previous period[28]. Strategic Plans and Compliance - The company plans to provide a guarantee for its wholly-owned subsidiary's product sales prepayment, with a maximum guarantee amount of USD 10 million[13]. - The company is in discussions regarding performance compensation related to the acquisition of Ningbo Tianhong Yihua Trading Co., Ltd., which involves issuing 220,265,693 shares and cash payments of RMB 400 million[14]. - The company approved a hedging business plan for 2025, with a maximum hedging position of 12,000 tons of copper and a maximum margin of RMB 200 million[14]. - The company plans to use up to CNY 720 million in self-owned funds for pledging deposits and large certificates of deposit to enhance capital efficiency and meet operational needs[16]. - The company conducted five related transactions involving pledged deposits, with amounts ranging from CNY 27.7 million to CNY 45 million, generating actual returns of up to CNY 720,000[16]. - The company aims to focus on core mining businesses, particularly in copper and gold, to enhance product sales scale and profitability[17]. - The company will continue to strengthen compliance operations and risk management while optimizing capital allocation across various business segments[17]. - The company has not exceeded the limits approved by the shareholders' meeting for hedging and financial asset pledges[15]. - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[29]. - The board of directors announced the financial results on October 24, 2025[30].

Core Insights - The company reported a third-quarter revenue of 1.455 billion yuan, representing a year-on-year decline of 24.23% [1] - The net profit for the third quarter was 92.5853 million yuan [1] - For the first three quarters, the company achieved a revenue of 4.129 billion yuan, showing a year-on-year growth of 26.83% [1] - The net profit for the first three quarters was 234 million yuan [1]

Core Viewpoint - Pengxin Resources has shown significant stock price growth this year, with a year-to-date increase of 151.67%, despite a recent decline in the last five trading days [1] Financial Performance - For the first half of 2025, Pengxin Resources achieved a revenue of 2.674 billion yuan, representing a year-on-year growth of 100.21% [2] - The net profit attributable to shareholders for the same period was 141 million yuan, marking a substantial increase of 396.40% year-on-year [2] Stock Market Activity - As of October 27, the stock price of Pengxin Resources was 8.28 yuan per share, with a market capitalization of 18.323 billion yuan [1] - The stock has been active on the trading board, appearing four times this year, with the latest occurrence on October 10 [1] Shareholder Information - As of June 30, the number of shareholders for Pengxin Resources was 80,400, a decrease of 1.45% from the previous period [2] - The average number of circulating shares per shareholder increased by 1.47% to 24,793 shares [2] Dividend History - Since its A-share listing, Pengxin Resources has distributed a total of 166 million yuan in dividends, with no dividends paid in the last three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the seventh largest circulating shareholder, holding 15.0588 million shares, a decrease of 567,800 shares from the previous period [3] - Southern CSI 1000 ETF was the eighth largest circulating shareholder, increasing its holdings by 2.8112 million shares to 14.3131 million shares [3]

Core Viewpoint - Pengxin Resources has shown significant stock price growth and strong financial performance in recent months, indicating potential investment opportunities in the company [1][2]. Financial Performance - As of June 30, 2025, Pengxin Resources achieved a revenue of 2.674 billion yuan, representing a year-on-year growth of 100.21% [2]. - The net profit attributable to shareholders for the same period was 141 million yuan, reflecting a remarkable year-on-year increase of 396.40% [2]. - The company has cumulatively distributed 166 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - On October 21, the stock price of Pengxin Resources rose by 2.00%, reaching 8.67 yuan per share, with a trading volume of 652 million yuan and a turnover rate of 3.82% [1]. - The company has experienced a stock price increase of 163.53% year-to-date, with a 4.33% rise in the last five trading days and a 34.00% increase over the past 20 days [1]. - Pengxin Resources has appeared on the stock market's "Dragon and Tiger List" four times this year, with the most recent occurrence on October 10 [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders for Pengxin Resources was 80,400, a decrease of 1.45% from the previous period [2]. - The average number of circulating shares per shareholder increased by 1.47% to 24,793 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 15.0588 million shares, a decrease of 567,800 shares, while Southern CSI 1000 ETF increased its holdings by 2.8112 million shares to 14.3131 million shares [3]. Business Overview - Pengxin Resources, established on September 29, 2000, and listed on June 26, 2003, is based in Shanghai and primarily engages in the mining, smelting, processing, and sales of metals such as copper, gold, and cobalt [1]. - The company's revenue composition includes 51.07% from trading, 48.68% from industrial operations, and 0.25% from other activities [1]. - The company operates within the non-ferrous metals industry, specifically in industrial metals and copper, and is associated with various concept sectors including free trade ports and precious metals [1].

New Stock Offerings - The offer period for the acquisition of Shangwei New Materials (688585) is from September 29, 2025, to October 28, 2025[1] - The latest announcements for various stocks include BoRui Pharmaceutical (688166) and Nanxin Pharmaceutical (688189) on October 10, 2025[1] - Significant abnormal fluctuations were reported for Nanxin Pharmaceutical (688189) on October 10, 2025[1] Trading Alerts - A total of 30 stocks have trading alerts issued on October 20, 2025, including Anlikang (002940) and ST Baoying (002047)[1] - The trading alerts cover various sectors, indicating potential volatility in the market[1] - The latest announcements for stocks such as YD Holdings (000626) and ST Nanzhi (002305) were made on October 20, 2025[1]

Key Recommendations - The report highlights the social services industry, particularly focusing on the chain restaurant sector, recommending leading brands that offer good value for money in the dining and tea beverage segments [7] - The construction industry report emphasizes the necessity of cleanroom engineering as a critical component of AI infrastructure, with global demand for construction rapidly increasing [11] Industry and Company Insights - In the restaurant sector, the report notes that in September 2025, the stock prices of major restaurant brands faced pressure, with notable increases for brands like Xiaobai Xiaobai (+33%) and Yum Brands (+4%) [7] - The mid-year financial summary indicates that the tracked chain restaurant leaders saw a 29% increase in net profit attributable to shareholders in the first half of 2025, with a 16% revenue growth, outperforming the overall retail dining market growth of 4% [7] - The cleanroom engineering market is driven by the need for controlled environments in precision product manufacturing, with investments in cleanroom engineering typically accounting for 10-20% of total project costs [11] - The global cleanroom market is expected to grow due to increasing demands for semiconductor manufacturing and data center construction, particularly in North America, which is identified as a market with significant potential [11] Market Dynamics - The report indicates that in September 2025, the domestic restaurant revenue showed a slight year-on-year increase of 1%, recovering from previous months' declines [7] - The cleanroom engineering demand is expected to rise as companies like TSMC ramp up investments in the U.S., with TSMC planning an additional $100 billion investment, indicating a robust growth trajectory for the cleanroom sector [11] Investment Recommendations - The report suggests focusing on leading companies in the cleanroom engineering space, such as Shenghui Integration and Yaxiang Integration, which are expected to benefit from the global semiconductor supply chain restructuring [12] - In the restaurant sector, it recommends investing in brands like Xiaobai Xiaobai, Gu Ming, and Mi Xue Group, which are positioned to capitalize on the recovery and growth in the dining market [9]

Group 1 - Gansu Province has discovered a large gold mine in the Qianhongquan-Heishan Beitan area, with an additional gold resource of over 40 tons, equivalent to the resource amount of two large gold mines [1] - The Qianhongquan gold mine was discovered through large-scale geochemical exploration methods based on basic geological survey work, providing significant guidance for gold mine exploration in similar regions [1] - On October 15, 2025, the most actively traded gold futures price on the New York Commodity Exchange exceeded $4200 per ounce, setting a historical high [1] Group 2 - International gold prices have increased by over 50% this year, driven by multiple factors including U.S. government shutdown, political instability in France, economic concerns in Japan and the U.S., and ongoing geopolitical conflicts [3] - On October 15, domestic gold jewelry prices rose, with major brands like Lao Miao, Chow Tai Fook, and Liufuk Jewelry all pricing their 24K gold jewelry at 1235 yuan per gram [3][6] - On the same day, gold-related stocks saw significant gains, with companies like Zhaojin Mining and Zijin Mining hitting their daily limit up, indicating strong market interest in gold investments [7][8]

Market Overview - On October 15, the industrial metals sector rose by 2.66% compared to the previous trading day, with Zhongfu Industrial leading the gains [1] - The Shanghai Composite Index closed at 3912.21, up 1.22%, while the Shenzhen Component Index closed at 13118.75, up 1.73% [1] Top Gainers in Industrial Metals - Zhongfu Industrial (600595) closed at 6.15, up 10.02% with a trading volume of 2.38 million shares and a turnover of 1.424 billion yuan [1] - Shenhuo Co. (000933) closed at 22.44, up 5.90% with a trading volume of 771,400 shares and a turnover of 1.71 billion yuan [1] - Hongchuang Holdings (002379) closed at 18.79, up 5.74% with a trading volume of 242,100 shares and a turnover of 447.1 million yuan [1] Top Losers in Industrial Metals - Huayu Mining (601020) closed at 30.45, down 2.90% with a trading volume of 758,300 shares and a turnover of 2.279 billion yuan [2] - Xinweiling (920634) closed at 29.81, down 2.84% with a trading volume of 39,200 shares and a turnover of 1.16 million yuan [2] - Baiyin Nonferrous Metals (601212) closed at 5.40, down 2.35% with a trading volume of 4.6459 million shares and a turnover of 2.488 billion yuan [2] Capital Flow Analysis - The industrial metals sector experienced a net outflow of 682 million yuan from institutional investors, while retail investors saw a net inflow of 991 million yuan [2] - Major stocks like Zijin Mining (668109) had a net inflow of 563 million yuan from institutional investors, while retail investors had a net outflow of 205 million yuan [3] - Zhongfu Industrial (600595) saw a net inflow of 145 million yuan from institutional investors, but a net outflow of 10.3 million yuan from retail investors [3]

Group 1 - The gold sector experienced a rebound on October 15, with notable increases in stock prices, including a limit up for Zhaojin Mining and over 7% rise for Shengtun Mining [1] - As of 14:21, Zhaojin Mining reached a price of 14.60, reflecting a 10.02% increase, while Shengtun Mining was at 11.18, showing a 7.29% rise [2] - Other companies in the gold sector, such as Zijin Mining and Pengxin Resources, also saw positive movements in their stock prices [1]