Core Insights - The A-share non-ferrous metal industry, comprising 141 listed companies, achieved a total revenue of 2.82 trillion yuan in the first three quarters of 2025, marking a year-on-year growth of 9.3%. The net profit attributable to shareholders reached 151.29 billion yuan, reflecting a significant increase of 41.55% [2][3]. Revenue Performance - Jiangxi Copper, Zijin Mining, and China Aluminum ranked highest in revenue, with figures of 396.04 billion yuan, 254.2 billion yuan, and 176.51 billion yuan respectively. Over 70% of the companies in the non-ferrous metal sector reported year-on-year revenue growth [5][7]. - Companies such as Luoyang Molybdenum and Yunnan Copper also exceeded 100 billion yuan in revenue during the same period [7]. Profitability - More than 90% of the listed companies in the non-ferrous metal sector reported profits in the first three quarters of 2025. Zijin Mining led with a net profit of 37.86 billion yuan, achieving a year-on-year growth rate of 55.45% [7]. - Companies like Pengxin Resources and Tianqi Lithium successfully turned losses into profits during this period [8][10]. Gross Margin Analysis - The average gross margin for A-share non-ferrous metal companies was approximately 18.15%, an increase of 0.47 percentage points year-on-year. Companies such as Zhaojin Mining, Cangge Mining, and Xiaocheng Technology exhibited significant growth in gross margin [8][10]. - Notably, Xiaocheng Technology and Sichuan Gold had the highest sales gross margins at 65.07% and 64.11% respectively [11].

Group 1 - The gold concept sector experienced a significant decline, dropping by 2.39% [1] - Among the companies, Yuguang Gold Lead fell by 4.73%, Shenda Resources decreased by 4.56%, and Luoyang Molybdenum dropped by 4.53% [1] - Other companies such as Pengxin Resources, Zhaojin Gold, and Hunan Silver also saw declines exceeding 3% [1]

Core Viewpoint - The company, Pengxin Resources, is taking legal action against its actual controller, Jiang Zhaobai, for failing to fulfill performance compensation agreements related to asset injections, resulting in a significant performance gap of 2.308 billion yuan [1][4]. Group 1: Background Information - Jiang Zhaobai and Jiang Lei are brothers, with Jiang Zhaobai being the actual controller of Pengxin Resources and Jiang Lei serving as a director [2]. - Jiang Zhaobai was once a prominent figure in the "Pengxin system," owning multiple listed companies, and was ranked 43rd on the 2014 Hurun Rich List with a wealth of 25.1 billion yuan [2]. - The company acquired 100% of Ningbo Tianhong Yihua Trading Co., which indirectly gave control over CAPM African Precious Metals Limited, through a share issuance and cash payment totaling 4 billion yuan [2]. Group 2: Performance Commitment Agreement - In October 2017, Pengxin Resources signed a performance commitment compensation agreement with Jiang Zhaobai and Jiang Lei, with a total promised net profit of 1.944 billion yuan for the period from 2018 to 2024 [2][4]. - Ningbo Tianhong, after becoming a wholly-owned subsidiary, only achieved a net profit of 16.1467 million yuan in 2020, while incurring losses in the other six years, leading to a cumulative net profit of -364 million yuan, falling short of the promised amount by 2.308 billion yuan [4]. Group 3: Legal Action and Compensation Details - On November 14, the company’s board approved a proposal to resolve the compensation dispute through litigation, with a unanimous vote from independent directors [1]. - The company has been in discussions with the counterparties regarding the compensation plan but has not reached an agreement, prompting the decision to pursue legal action [6]. - As of March 31, Jiang Zhaobai and Jiang Lei held 221 million shares, with a significant portion pledged or frozen, raising concerns about their ability to fulfill the compensation obligations [5][6].

Core Viewpoint - Pengxin Resources is taking legal action against its actual controller Jiang Zhaobai for failing to fulfill performance compensation commitments, with a performance gap of 2.308 billion yuan [2][5]. Group 1: Company Background - Jiang Zhaobai and Jiang Lei are brothers, with Jiang Zhaobai being the actual controller of Pengxin Resources and Jiang Lei serving as a director [3]. - Jiang Zhaobai was once a prominent figure in the "Pengxin system," owning multiple listed companies, and was ranked 43rd on the 2014 Hurun Rich List with a wealth of 25.1 billion yuan [3]. - The company acquired 100% of Ningbo Tianhong Yihua Trading Co., which indirectly gave control over CAPM African Precious Metals Limited, through a share issuance and cash payment totaling 4 billion yuan [3][4]. Group 2: Performance Commitment Dispute - A performance commitment agreement was signed in 2017, stipulating a cumulative net profit of 1.944 billion yuan from 2018 to 2024 [3]. - From 2018 to 2024, Ningbo Tianhong only achieved a net profit of 16.1467 million yuan in 2020, resulting in a cumulative net profit of -364 million yuan, falling short by 2.308 billion yuan [5]. - The poor performance was attributed to delays in procurement of key equipment for the Oni Gold Mine, leading to a near halt in production operations [5]. Group 3: Legal and Financial Actions - On November 14, the board of Pengxin Resources approved a proposal to resolve the performance compensation dispute through litigation, with a unanimous vote from independent directors [2]. - The company calculated that Jiang Zhaobai and Jiang Lei should compensate with 220 million shares and 414 million yuan in cash [6]. - As of March 31, Jiang Zhaobai and Jiang Lei held 221 million shares, with a significant portion pledged or frozen, raising concerns about their ability to fulfill compensation obligations [6][7].

Core Viewpoint - The company is pursuing legal action to resolve a dispute regarding performance compensation obligations related to the acquisition of Ningbo Tianhong Yihua Trading Co., Ltd, as the counterparties have failed to fulfill their commitments [1][5][6]. Summary by Sections Performance Compensation Obligations - The company has calculated that the counterparties are required to compensate with 220,265,693 shares and cash amounting to 414,317,270.05 yuan [1][3]. - The performance commitment period spans from 2018 to 2024, with a total promised net profit of 1,943.8608 million yuan based on an audit report [2][3]. Progress of Compensation - Despite multiple reminders and negotiations, the counterparties have not complied with the compensation obligations as per the performance commitment agreement [4][5]. - The company has decided to initiate litigation to resolve the compensation dispute after unsuccessful negotiations [5][6]. Board Meeting Decisions - The company's board of directors held a meeting on November 14, 2025, where they approved the resolution to pursue legal action regarding the unresolved performance compensation dispute [6].

Core Viewpoint - The company is addressing a dispute regarding performance commitment compensation through litigation after failing to reach an agreement with the counterparty [3][15]. Group 1: Board Meeting - The 15th meeting of the 8th Board of Directors was held on November 14, 2025, with all 5 directors present, complying with legal and regulatory requirements [2]. - The board approved a resolution to resolve the performance commitment compensation dispute through litigation [3][15]. Group 2: Compensation Details - The counterparty is required to compensate with 220,265,693 shares and cash amounting to 414,317,270.05 yuan due to unmet performance commitments [8][13]. - The performance commitment period was from 2018 to 2024, with a total promised net profit of 194,386.08 million yuan [10]. Group 3: Performance Commitment Status - As of December 31, 2024, the performance commitments were not met, primarily due to external factors affecting the resumption of operations at the Oni Gold Mine [12]. - The valuation of the target company, Ningbo Tianhong, was assessed at 383,672.63 million yuan, indicating no impairment compared to previous evaluations [11]. Group 4: Litigation Progress - The company has made multiple attempts to urge the counterparty to fulfill their compensation obligations but has not reached an agreement [15]. - The decision to pursue litigation was made to clarify the rights and obligations of both parties regarding the compensation [15].

Group 1 - The core point of the article is that Pengxin Resources announced a board meeting to address performance commitment compensation disputes through litigation [1] - For the first half of 2025, the revenue composition of Pengxin Resources is as follows: trade business accounts for 51.07%, manufacturing accounts for 48.68%, and other businesses account for 0.25% [1] - As of the report date, the market capitalization of Pengxin Resources is 18.1 billion yuan [1]

重要内容提示： 证券代码：600490 证券简称：鹏欣资源 公告编号：临 2025-037 鹏欣环球资源股份有限公司 关于业绩承诺补偿事项的进展公告 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、准确性和完整性承担个别及连带责任。 1、应补偿股份及现金情况：经公司测算，交易对方应补偿股份数 220,265,6 93 股，现金 414,317,270.05 元。 2、进展情况：截至本公告出具日，公司已多次督促交易对方根据《业绩承诺 补偿协议》的约定足额履行业绩承诺补偿义务，并与交易对方进行过多轮协商， 双方未能达成一致意见。为切实维护上市公司及广大中小投资者的利益，根据《业 绩承诺补偿协议》的约定双方决定通过诉讼的方式解决此次业绩承诺补偿事项。 公司将密切关注及督促业绩补偿方履行补偿义务，根据业绩承诺补偿事项的 进展情况及时履行信息披露义务，切实维护上市公司及全体股东的利益。 一、基本情况 鹏欣环球资源股份有限公司（以下简称"公司"）通过向姜照柏和姜雷增发 人民币普通股（A 股）220,265,693 股及支付 400,000,000.00 元现金购买其持 ...

证券代码：600490 证券简称：鹏欣资源 公告编号：临 2025-036 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： （一）审议通过《关于通过诉讼化解未达成业绩承诺补偿争议的议案》 具体内容详见公司同日披露的《关于业绩承诺补偿事项的进展公告》。 上述事项因涉及关联交易，关联董事王健、姜雷回避表决。 表决结果：3 票同意，0 票反对，0 票弃权。 特此公告。 鹏欣环球资源股份有限公司 第八届董事会第十五次会议决议公告 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"）第八届董事会第十五次会 议于 2025 年 11 月 14 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 11 月 15 日 鹏欣环球资源股份有限公司董事会 ...

Core Viewpoint - Pengxin Resources has shown significant stock performance with a year-to-date increase of 150.76% and a recent trading volume indicating active market interest [1][2]. Financial Performance - For the period from January to September 2025, Pengxin Resources reported a revenue of 4.129 billion yuan, representing a year-on-year growth of 26.83% [2]. - The net profit attributable to shareholders reached 234 million yuan, marking a substantial increase of 299.98% compared to the previous year [2]. Stock Market Activity - As of November 12, the stock price of Pengxin Resources was 8.25 yuan per share, with a market capitalization of 18.256 billion yuan [1]. - The stock has experienced a trading volume of 173 million yuan with a turnover rate of 1.07% [1]. - The company has appeared on the "龙虎榜" (top trading list) four times this year, with the latest occurrence on October 10 [1]. Shareholder Information - As of September 30, the number of shareholders for Pengxin Resources was 74,600, a decrease of 7.18% from the previous period [2]. - The average number of circulating shares per shareholder increased by 7.74% to 26,712 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 September 30, 2025, Hong Kong Central Clearing Limited was the fifth-largest circulating shareholder, holding 26.3152 million shares, an increase of 11.2564 million shares from the previous period [3]. - The Southern CSI 1000 ETF was the eighth-largest circulating shareholder, holding 14.1571 million shares, which is a decrease of 156,000 shares from the previous period [3].