Core Viewpoint - Western Mining has successfully acquired the exploration rights for the Chating copper polymetallic mine in Anhui Province for 8.609 billion yuan, which is expected to enhance its resource reserves and industry position in the non-ferrous metals sector [1][3]. Group 1: Acquisition Details - The acquisition was led by the subsidiary Yulong Copper Industry, with preliminary research and subsequent planning conducted by Western Mining [1]. - The exploration rights were publicly auctioned by the Anhui Provincial Natural Resources Department on September 8, 2025, and the contract for the exploration rights is to be signed by November 27, 2025 [2]. - The funding for this acquisition will come from Yulong Copper's own resources, with no plans for issuing convertible bonds or additional stock [2]. Group 2: Resource Potential - The Chating copper polymetallic mine is recognized as a significant discovery with substantial deep exploration potential, classified as a large-scale copper-gold deposit [3]. - The mine has confirmed industrial-grade copper ore reserves of 122 million tons, with a metal content of 656,700 tons and an average grade of 0.54% [3]. - Additionally, there are low-grade copper ore reserves of 449 million tons, with a metal content of 1.0909 million tons and an average grade of 0.24% [3]. Group 3: Financial Performance - In the first three quarters of 2025, Western Mining reported a revenue of 48.4 billion yuan, a year-on-year increase of 31.90%, and a total profit of 5.964 billion yuan, up 12.39%, marking a historical high [3]. - The company experienced a 43% revenue growth due to increased production and sales in copper and lead smelting, although smelting processing fees remained at historical lows, impacting overall profits [4]. Group 4: Market Position - As of October 27, 2025, Western Mining's stock closed at 24.87 yuan per share, with a total market capitalization of 59.265 billion yuan [5].

Core Viewpoint - The company, Western Mining, has successfully acquired exploration rights for the Chating copper polymetallic mine in Anhui Province for 8.609 billion yuan, which is expected to enhance its resource reserves and industry position in the non-ferrous metals sector [2][4][6]. Group 1: Acquisition Details - Western Mining's subsidiary, Tibet Yulong Copper Co., won the bidding for the Chating copper polymetallic mine exploration rights at a price of 8.609 billion yuan [2][4]. - The acquisition is part of a strategy to strengthen resource reserves and expand the company's scale in the non-ferrous metals industry [4][6]. - The exploration rights will be formalized through a contract with the seller by November 27, 2025, with the payment to be made as per the contract terms [4]. Group 2: Financial Performance - In the first three quarters of 2025, Western Mining reported a revenue of 48.4 billion yuan, marking a year-on-year increase of 31.90%, and a profit of 5.964 billion yuan, up 12.39%, achieving a historical high [7]. - The revenue growth is attributed to increased production and sales in copper and lead smelting, despite low processing fees impacting overall profits [7]. Group 3: Resource Potential - The Chating copper polymetallic mine has confirmed industrial-grade copper ore reserves of 122 million tons, with a metal content of 656,700 tons and an average grade of 0.54% [7]. - The mine also contains low-grade copper ore reserves of 449 million tons, with a metal content of 1,090,900 tons and an average grade of 0.24%, indicating significant resource potential [7].

Company Announcements - Tongfu Microelectronics reported a net profit growth of 95.08% in Q3, with revenue of 7.08 billion yuan, up 17.94% year-on-year [1] - Guizhou Moutai's chairman Zhang Deqin resigned, with Chen Hua recommended as the new chairman [3] - Victory Shares is planning to acquire gas-related assets controlled by its major shareholder, leading to a stock suspension [3] - Northern Rare Earth's net profit increased by 280% in the first three quarters, driven by higher sales volume [5] - China Nuclear Engineering signed contracts for the construction of the Haiyang Nuclear Power Units 5 and 6 [5] - Kingsoft Office's net profit grew by 35.42% in Q3, with WPS 365 revenue increasing by 71.61% [6] - Postal Savings Bank received approval to establish a financial asset investment company with a registered capital of 10 billion yuan [8] - West Mining's subsidiary won exploration rights for a copper polymetallic mine for 8.609 billion yuan [4] Financial Performance - High德红外 reported a net profit increase of 1059% in Q3, with revenue of 1.134 billion yuan, up 71.07% year-on-year [17] - Purtai's net profit grew by 69% in Q3, supported by strong demand in the power and energy storage battery markets [18] - Yubo Technology's net profit surged by 384% in the first three quarters, driven by rapid growth in AIDC market orders [14] - Sichuan Gold's net profit increased by 184% in Q3, attributed to rising gold prices [16] - Hailey Wind Power's net profit skyrocketed by 779% in Q3, with revenue up 134.73% [7] - Huazhi Technology's net profit rose by 51% in Q3, mainly due to business expansion [5] Strategic Investments - Zhenyu Technology plans to invest 2.11 billion yuan in humanoid robot precision module and component projects [9] - China Aluminum's subsidiary plans to invest 500 million yuan in Yunnan Aluminum Foil [20] - Zhongfu Industrial intends to invest 356 million yuan in a new energy aluminum foil project [19] - Kaishan Group signed contracts for an 800 million USD green ammonia project in Kenya [19]

Group 1 - Northern Rare Earth reported a net profit increase of 280% year-on-year for the first three quarters, driven by higher sales volume and prices of rare earth products [1] - Postal Savings Bank has received approval to establish a financial asset investment company with a registered capital of 10 billion yuan, aimed at enhancing comprehensive service capabilities and supporting technological innovation [2] - Silyus announced a maximum price of HKD 131.5 per share for its H-share issuance, with a total of 100.2 million shares available for global offering [3] Group 2 - Hengtong Optic-Electric won a bid for marine energy projects with a total contract value of 1.868 billion yuan, including the supply and construction of undersea cables [4] - Western Mining's subsidiary Yulong Copper won exploration rights for the Chating copper polymetallic mine for 8.609 billion yuan, which is expected to enhance the company's resource reserves [5] - China Bank appointed Liu Chenggang as vice president, effective from October 24, 2025 [6] Group 3 - ST Guangwu announced the removal of other risk warnings for its stock, changing its name to Guanghui Logistics, which will allow for a wider trading limit [7] - Wireless Media set an initial transfer price of 29.11 yuan per share for its inquiry transfer, with a subscription multiple of 2.01 times [8][9] - Jiangshan Oupai's subsidiaries in Henan and Chongqing will cease operations due to insufficient orders, with business transferred to its Zhejiang base [10] Group 4 - Zhenyu Technology plans to invest 2.11 billion yuan in precision component manufacturing and humanoid robot projects, with the first phase of investment to be signed soon [11] - Jinyuan Co. announced the resignation of its general manager, with Qiu Yongping appointed as the new general manager [12] Group 5 - CanSino reported a net profit of 27.93 million yuan for Q3, a year-on-year increase of 842.01% [13] - Jiangshan Co. reported a net profit of 86.73 million yuan for Q3, a year-on-year increase of 11,890.01% [14] - Yingshi Innovation reported a net profit of 272 million yuan for Q3, a year-on-year decrease of 15.90% [15] Group 6 - Chip Origin reported a net loss of 26.85 million yuan for Q3, despite a revenue increase of 78.38% [16] - Tonghua Dongbao reported a net profit of 984 million yuan for Q3, a year-on-year increase of 499.86% [17] - Hengrui Medicine reported a net profit of 1.301 billion yuan for Q3, a year-on-year increase of 9.53% [18] Group 7 - Zhongguang Lightning reported a net profit of 6.46 million yuan for Q3, a year-on-year increase of 382.66% [19] - Ice River Network reported a net profit of 166 million yuan for Q3, a year-on-year increase of 244.58% [20] - Daheng Technology reported a net profit of 71.48 million yuan for Q3, a year-on-year increase of 1,960.72% [21] Group 8 - Yanjin Puzhi reported a net profit of 232 million yuan for Q3, a year-on-year increase of 33.55% [22] - Sichuan Gold reported a net profit of 160 million yuan for Q3, a year-on-year increase of 184.38% [23] - Sanbo Brain Science reported a net profit of 13.93 million yuan for Q3, a year-on-year decrease of 63.26% [24] Group 9 - Hengli Petrochemical reported a net profit of 1.972 billion yuan for Q3, a year-on-year increase of 81.47% [25] - Deepin Technology reported a net profit of 147 million yuan for Q3, a year-on-year increase of 1,097.40% [26] - Huisheng Biological reported a net profit of 70.72 million yuan for Q3, a year-on-year increase of 1,575.79% [27] Group 10 - Gaode Infrared reported a net profit of 401 million yuan for Q3, a year-on-year increase of 1,143.72% [28] - Qingdao Beer reported a net profit of 1.37 billion yuan for Q3, a year-on-year increase of 1.62% [29] - Nanjing Public Utilities reported a net profit of 84.62 million yuan for Q3, a year-on-year increase of 2,492.12% [30] Group 11 - Zhangyuan Tungsten reported a net profit of 75.02 million yuan for Q3, a year-on-year increase of 118.56% [31] - Yongmaotai reported a net profit of 30.41 million yuan for Q3, a year-on-year increase of 6,319.92% [32] Group 12 - Tongrun Equipment announced that two shareholders plan to reduce their holdings by 1.50% each, totaling a maximum of 3.00% [33] - High-speed Rail Electric announced a pre-bid for a city rail transit project worth 62.39 million yuan [34]

证券代码：601168 证券简称：西部矿业 公告编号：临 2025-042 关于公司控股子公司西藏玉龙铜业股份有限公司竞 拍取得安徽省宣州区茶亭铜多金属矿勘查探矿权的 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、准确性和完整性承担法律责任。 重要内容提示： 公司控股子公司西藏玉龙铜业股份有限公司（下称"玉龙铜业"）参与 了安徽省自然资源厅在安徽合肥公共资源交易中心公开挂牌出让的安徽 省宣州区茶亭铜多金属矿勘查探矿权（下称"茶亭铜多金属矿勘查探矿权"） 的竞拍。玉龙铜业以 860,893 万元竞得该茶亭铜多金属矿勘查探矿权。 1. 矿产资源开采具有较高的投资风险，存在不可预见的自然因素、社会因 素以及与采矿相关的国家与地方政府的法规政策调整。 2. 本次竞拍的探矿权出让人提供的资源情况为地勘单位进行勘测的结果， 有关矿体的规模、形态、资源储量、品位等可能与实际开采情况有差距，存在不 可预见的风险。 3. 公司取得探矿权后需要办理探矿权转采矿权等相关手续，存在一定的不 确定性，敬请广大投资者注意投资风险。 一、本次交易概述 （一）本次交易的基本情况 ...

证券代码：601168 证券简称：西部矿业 公告编号：临 2025-044 西部矿业股份有限公司 关于 2025 年第三季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、准确性和完整性承担个别及连带责任。 公司于2025年10月27日下午16:00-17:00在上海证券交易所上证路演中心采 用网络互动方式召开"2025年第三季度业绩说明会"。关于本次业绩说明会的召 开事项，公司已于2025年10月18日在《上海证券报》、《中国证券报》、《证券 时报》及上海证券交易所网站上披露了《西部矿业关于召开2025年第三季度业绩 说明会的公告》（详见临时公告2025-039号）。现将有关事项公告如下： 一、投资者说明会召开情况 2025年10月27日，公司董事长王海丰先生，总裁周华荣先生，财务负责人、 董事会秘书王伟先生，独立董事秦嘉龙女士出席了本次业绩说明会。公司就2025 年第三季度经营成果、财务状况等事项与投资者进行互动交流和沟通，在信息披 露允许的范围内就投资者普遍关注的问题进行了回答。 二、本次说明会投资者提出的主要问题及公司回复 ...

证券代码：601168 证券简称：西部矿业 公告编号：临 2025-043 西部矿业股份有限公司 关于召开2025年第二次临时股东会的通知 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： 一、 召开会议的基本情况 (一)股东会类型和届次 2025年第二次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 12 日 15 点 00 分 召开地点：青海省西宁市海湖新区文逸路 4 号西矿•海湖商务中心 1 号楼 26 楼 (五)网络投票的系统、起止日期和投票时间。 股东会召开日期：2025年11月12日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 11 月 12 日 至2025 年 11 月 12 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召 ...

西部矿业股份有限公司 第八届董事会第二十四次会议决议公告 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 证券代码：601168 证券简称：西部矿业 公告编号：临 2025-041 会议同意，为不断夯实主业，持续增加公司资源储备，提升公司盈利能力。 公司控股子公司西藏玉龙铜业股份有限公司参与竞拍安徽省自然资源厅在安徽 合肥公共资源交易中心公开挂牌出让的安徽省宣州区茶亭铜多金属矿勘查探矿 权，最终以 860,893 万元竞拍取得该探矿权，并将该议案提请 2025 年第二次临 时股东会审议批准（详见临时公告 2025-042 号）。 表决结果：同意 7 票，反对 0 票，弃权 0 票。 （一）本次董事会会议的召集、召开符合有关法律、法规及《公司章程》的 相关规定。 （二）本次董事会会议通知及议案于 2025 年 10 月 27 日以邮件方式向全体 董事发出。 （三）本次董事会会议于 2025 年 10 月 27 日以通讯方式召开。 （四）本次董事会会议应出席的董事 7 人，实际出席会议的董事 7 人， ...

Core Viewpoint - Western Mining (SH 601168) announced the convening of its 24th meeting of the 8th Board of Directors on October 27, 2025, via communication methods, discussing the proposal to waive the notification period for this board meeting [1] Group 1: Financial Performance - For the year 2024, Western Mining's revenue composition is as follows: non-ferrous metal mining and smelting accounts for 74.49%, trading business for 23.63%, other businesses for 1.45%, and financial services for 0.43% [1] - As of the report date, Western Mining's market capitalization stands at 59.3 billion yuan [1]

Core Viewpoint - The lithium mining sector experienced significant gains on the 27th, with notable increases in stock prices for several companies, driven by strong demand for energy storage and power batteries in China [1] Industry Summary - From January to September 2025, China's production of power and energy storage batteries reached 1121.9 GWh, marking a year-on-year increase of 62.7%, significantly higher than the growth rate in 2024 [1] - Energy storage battery sales during the same period saw a year-on-year growth of 75.5%, with tender capacity increasing by 178% [1] - According to CITIC Securities, the demand for energy storage batteries is expected to exceed expectations due to policy support, with improvements in battery capacity and trade-in policies boosting demand for power batteries [1] Supply and Demand Outlook - The peak investment period in the lithium industry has passed, with future growth primarily coming from increased production or ramp-up of existing projects, leading to a gradual decline in the growth rate of lithium resource supply [1] - As of September, the inventory-to-sales ratio for lithium salt refineries dropped to 28%, reaching levels seen in 2022, indicating that lithium salt inventory levels are at their limit [1] - Forecasts suggest global lithium supply surplus from 2025 to 2028 will be 101,000 tons, 78,000 tons, 29,000 tons, and 11,000 tons respectively, indicating a gradual shift towards a balanced supply-demand scenario [1] - Lithium prices are expected to stabilize at a range of 80,000 to 100,000 yuan per ton by 2026, with potential for price recovery as the market adjusts [1] Investment Recommendations - Companies with low-cost operations and high-quality mining assets are recommended for attention as they may benefit from the rebound in lithium prices [1]