Group 1: Company Overview and Business Strategy - Hainan Mining is one of the few listed companies primarily engaged in iron ore mining, with a resource volume of 243 million tons as of the end of 2023 [2] - The company produces iron ore products with a gross profit margin exceeding 50%, particularly for lump ore, which accounts for about 65% of its finished product output [2] - Strategic and long-term customer orders account for over 70% of sales, with major clients including Baowu Resources and Handan Iron and Steel Group [2] Group 2: Market Analysis and Price Forecast - The forecast for iron ore prices in 2024 is expected to range between $90 and $100 per ton for the 62% Fe index, driven by demand from sectors like home appliances and infrastructure projects in the Middle East and South Asia [2] - Despite a decline in steel demand from the real estate sector, the overall demand for steel is expected to be supported by growth in other industries [2] Group 3: Lithium Hydroxide Project Development - The 20,000-ton lithium hydroxide project in Yangpu, Hainan, is on track for trial production in 2024, with 15,000 tons of lithium concentrate already in stock [3] - The project aims to produce battery-grade lithium hydroxide using advanced production techniques, ensuring competitive production costs not exceeding 70,000 yuan per ton [3] Group 4: Oil and Gas Business Strategy - The company’s oil and gas products are sold directly to national oil companies, with crude oil prices aligned with Brent crude prices and natural gas prices stable based on government benchmarks [4] - Over 60% of the oil and gas segment's revenue comes from stable natural gas sales, which helps mitigate risks from crude oil price fluctuations [4] - The average production cost for oil fields is approximately $35 per barrel, providing a competitive edge [4] Group 5: Strategic Planning and M&A - The company is focused on a dual strategy of "industrial operation" and "industrial investment," aiming to enhance its resource portfolio in iron ore, oil, and new energy sectors [3] - Future investments and acquisitions will be strategically aligned with market opportunities and the company’s long-term goals [3]

为保证监事会的规范运作，根据《中华人民共和国公司法》《上海证券交易所股 票上市规则》《海南矿业股份有限公司章程》等有关规定，公司于2024年11月12日召 开职工代表大会，经与会职工代表认真审议，一致同意选举符之侨先生（简历见附件） 担任公司第五届监事会职工代表监事。 符之侨先生因参与公司2022年限制性股票激励计划，尚持有已获授未解除限售的 限制性股票60,000股，公司将在集中办理2022年限制性股票激励计划第三期回购注销 中，就符之侨先生所持的已获授未解除限售的限制性股票60,000股办理回购注销；其 配偶及其他关联人未直接或间接持有公司股票；其与其他持有公司 5%以上股份的股 东、董事、监事和高级管理人员不存在关联关系；未受过中国证监会及其他有关部门 的处罚和证券交易所惩戒，符合《中华人民共和国公司法》等相关法律、法规和规定 要求的监事任职的资格和条件，其任期自本次职工代表大会决议通过之日起至公司第 五届监事会届满时为止。 特此公告。 海南矿业股份有限公司监事会 2024年11月14日 附件： 证券代码：601969 证券简称：海南矿业 公告编号：2024-119 海南矿业股份有限公司 关于职工代表监 ...

关于公司及控股子公司 Kodal Mining UK 签署有关解除包销协 议之补充协议的公告 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。 2024 年 3 月和 5 月，公司及公司控股子公司 KMUK 、参股公司 KOD 与顺鑫（以 下合称"协议各方"）分别签署《同意终止关于从布古尼锂矿项目承购锂辉石的 具有约束力的条款书》及其补充协议（以下简称"《解除包销协议》"），约定 KMUK 将向顺鑫支付共 1400 万美元的终止金，顺鑫在收到第一笔 350 万美元后将 放弃 Bougouni 锂矿项目投产后三年内包销不低于 80%的锂精矿产品的优先权； 同时，KMUK 需在与公司的包销协议生效后 10 个工作日内向顺鑫支付第二笔终止 金 350 万美元；并在首批锂辉石从马里发出或 2024 年 10 月 31 日后十个工作 日内（孰早者为准）完成全部终止金的支付。2024 年 5 月，顺鑫已收到 KMUK 向 其支付的第一笔终止金 350 万美元，其原拥有的 Bougouni 锂矿项目投产后三年 内包销不低于 80%的锂精矿产品 ...

证券代码：601969 证券简称：海南矿业 公告编号：2024-117 关于 2024 年第三季度业绩说明会召开情况公告 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。 海南矿业股份有限公司（以下简称"公司"）于 2024 年 11 月 7 日上午 10:00-11:00 在上海证券交易所上证路演中心（http://roadshow.sseinfo.com/） 以网络互动方式召开了公司 2024 年第三季度业绩说明会。现将说明会相关情况 公告如下： 一、本次业绩说明会召开情况 2024 年 10 月 31 日，公司在上海证券交易所网站（www.sse.com.cn）及 指定信息披露媒体披露了《海南矿业股份有限公司关于召开 2024 年第三季度业 绩说明会的公告》（公告编号：2024-113）。 2024 年 11 月 7 日，公司董事长刘明东先生，副董事长、总裁滕磊先生，独 立董事孟兆胜先生，副总裁、董事会秘书何婧女士，副总裁、财务总监朱彤先生 出席了本次业绩说明会，与投资者进行互动交流和沟通，就投资者关注的问题在 信息披露允 ...

证券代码：601969 证券简称：海南矿业 公告编号：2024-118 海南矿业股份有限公司 公司第五届董事会第十四次会议、2024 年第一次临时股东大会分别审议通 过了《关于提请股东大会授权为子公司提供 2024 年度担保的议案》，公司在授 权期限内计划为海矿国贸提供担保额度不超过人民币 100,000 万元。具体内容 详见公司在上海证券交易所网站披露的《海南矿业股份有限公司关于 2024 年度 为子公司提供担保额度的公告》（公告编号：2024-008）。 本次担保金额在预计额度范围内，无需另行召开董事会及股东大会审议。 （二）本次担保事项进展情况 为确保公司全资子公司海矿国贸经营业务的顺利开展，公司拟对海矿国贸向 ● 被担保人名称及是否为上市公司关联人：被担保人为海南海矿国际贸易有限 公司（以下简称"海矿国贸"），为海南矿业股份有限公司（以下简称"公 司"）全资子公司。 ● 本次担保金额及已实际为其提供的担保金额：公司本次为海矿国贸提供的担 保金额不超过人民币 20,000 万元；截止 2024 年 11 月 7 日，已实际为其提 供担保余额人民币 18,726 万元。 ● 本次担保无反担保。 ● 公司无 ...

海南矿业股份有限公司 收购报告书 海南矿业股份有限公司 收购报告书 上市公司：海南矿业股份有限公司 股票上市地点：上海证券交易所 股票简称：海南矿业 股票代码：601969 收购人：上海复星高科技（集团）有限公司 住所地：上海市曹杨路500号206室 通讯地址：上海市黄浦区中山东二路600号S1幢16层 签署日期：二〇二四年十一月 1 海南矿业股份有限公司 收购报告书 收购人声明 本声明所述的词语或简称与本报告书"释义"部分所定义的词语或简称具有 相同的含义。 一、本报告书系收购人根据《公司法》《证券法》《收购管理办法》《格式 准则第16号》及相关的法律、法规和部门规章的有关规定编写。 二、依据《公司法》《证券法》《收购管理办法》《格式准则第16号》的规 定，本报告书已全面披露收购人在海南矿业拥有权益的股份。截至本报告书签署 日，除本报告书披露的持股信息外，收购人没有通过任何其他方式在海南矿业拥 有权益。 三、收购人签署本报告书已获得相关决策机构审议通过，已获得必要的授权 和批准，其履行亦不违反收购人章程或内部规则中的任何条款，或与之相冲突。 四、收购人拟通过协议转让的方式受让复星产投持有的海南矿业29.34 ...

德邦证券股份有限公司 关于海南矿业股份有限公司收购报告书之财务顾问报告 德邦证券股份有限公司 关于 海南矿业股份有限公司 收购报告书 之 财务顾问报告 财务顾问 二〇二四年十一月 1 德邦证券股份有限公司 关于海南矿业股份有限公司收购报告书之财务顾问报告 财务顾问声明 本声明所述的词语或简称与本财务顾问报告"释义"部分所定义的词语或简 称具有相同的含义。 根据《公司法》《证券法》《收购管理办法》及《格式准则第16号》等法律 法规和规范性文件的规定，德邦证券按照行业公认的业务标准、道德规范，本着 诚实信用、勤勉尽责的精神，对本次收购的相关情况和资料进行了核查，对收购 人出具的《海南矿业股份有限公司收购报告书》所披露的内容出具财务顾问报告， 以供投资者和有关各方参考。 为此，本财务顾问特作出以下声明： 1、本财务顾问已按照规定履行了尽职调查义务，对收购人披露的《海南矿 业股份有限公司收购报告书》进行了核查，确信披露文件内容与格式符合规定， 并有充分理由确信所发表的专业意见与收购人披露的文件内容不存在实质性差 异； 2、本财务顾问有充分理由确信本次收购符合相关法律、行政法规的规定， 有充分理由确信收购人披露的信息真 ...

北京市金杜律师事务所上海分所 关于上海复星高科技（集团）有限公司免于发出收购要约事宜 之法律意见书 致：上海复星高科技（集团）有限公司 北京市金杜律师事务所上海分所（以下简称本所）接受上海复星高科技（集 团）有限公司（以下简称复星高科或收购人）委托，根据《公司法》《证券法》 《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 16 号——上市公司收购报告书》等法律、法规和其他规范性文件，就复星高科收购 上海复星产业投资有限公司所持有的海南矿业股份有限公司股份（以下简称本次 收购）所涉及的免于发出收购要约的相关事项出具本法律意见书。 为出具本法律意见书，本所及本所律师根据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则（试行）》等有关规定及本法 律意见书出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤 勉尽责和诚实信用原则，对本次收购所涉及的事实和法律问题进行了充分的核查 验证，保证本法律意见书所认定的事实真实、准确、完整，所发表的结论性意见 合法、准确，不存在虚假记载、误导性陈述或者重大遗漏，并承担相应法律责 任。 本所仅就本次收购所涉及的免于发出收购 ...

Investment Rating - The report maintains an "Add-A" rating for the company with a 6-month target price of 7.80 CNY, corresponding to a dynamic PE of 23 times for 2024 [3][21]. Core Views - The company reported a revenue of 3.172 billion CNY for the first three quarters of 2024, a year-on-year decrease of 14.29%, while the net profit attributable to shareholders was 546 million CNY, an increase of 13.81% year-on-year [13]. - The oil and gas production is on the rise, with Q3 2024 equity production and sales volumes increasing by 20.66% and 21.84% year-on-year, respectively, while iron ore production faced challenges due to weather conditions [14]. - The company is advancing its acquisition of the Oman oil field and is nearing production for its lithium hydroxide project, with the Bougouni lithium mine expected to commence operations in early 2025 [15][16]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 985 million CNY, down 24.21% year-on-year and 8.5% quarter-on-quarter, with a net profit of 144 million CNY, down 19.15% year-on-year and 7.54% quarter-on-quarter [13]. - The average price of Brent crude oil was 78.71 USD per barrel, a decrease of 8.2% year-on-year, while the average price index for 62% iron ore was 99.69 USD per ton, down 12.6% year-on-year [14]. - The company expects revenues of 4.566 billion CNY, 6.577 billion CNY, and 6.934 billion CNY for 2024, 2025, and 2026, respectively, with net profits projected at 682.9 million CNY, 826.8 million CNY, and 858.5 million CNY for the same years [21][22].

Summary of Conference Call Company and Industry Overview - The conference call pertains to Hainan Mining, focusing on the iron ore and oil & gas sectors, discussing financial performance and strategic initiatives. Key Points and Arguments Financial Performance - Despite a year-on-year decline in iron ore price index, Hainan Mining achieved a 13.8% increase in net profit for the first three quarters of the year [1] - The average iron ore price index for Q3 was approximately $99.69 per ton, reflecting a significant year-on-year decrease of 12.58% [2] - For the first three quarters, the average iron ore price index was $111.5 per ton, down 4.59% year-on-year [2] - The company's revenue for the first three quarters was 3.172 billion yuan, a decrease of 14.29% year-on-year, primarily due to a decline in bulk commodity trading [2] Segment Performance - The iron ore segment generated revenue of 1.221 billion yuan, accounting for 38.51% of total revenue, remaining stable compared to the previous year [3] - The oil and gas segment's revenue was 1.5 billion yuan, representing 47.57% of total revenue, with a year-on-year increase of 23% due to higher natural gas production [3] - Q3 revenue was 985 million yuan, a slight decrease of 8.5% from the previous quarter, attributed to lower sales volume and prices in the iron ore segment [4] Profitability - The gross profit for the first three quarters was 546 million yuan, up 13.81% year-on-year, driven by stable iron ore business profits and increased oil and gas profitability [4] - Q3 net profit was 143 million yuan, down 19.15% from the previous quarter, mainly due to declining sales volume and prices in the iron ore segment [5] Production and Operational Challenges - Iron ore production faced challenges due to adverse weather conditions, including typhoons, leading to a 30% year-on-year decline in raw ore production [6] - The company is focusing on optimizing production processes and enhancing operational efficiency to mitigate these challenges [6] Strategic Initiatives - Hainan Mining is actively pursuing mergers and acquisitions to enhance its resource base, including a recent acquisition of an oil field project in Oman for approximately $183 million [10] - The company is also investing in lithium mining projects, with significant progress reported in construction and production timelines [9] - A share buyback program was initiated, with plans to return a portion of profits to shareholders through dividends, marking the first dividend distribution since the company's listing [12][14] Future Outlook - The company anticipates a recovery in iron ore production and sales in Q4, although overall annual targets may not be fully met due to earlier production declines [27] - The oil price forecast for 2025 is projected to be between $75 and $80 per barrel, influencing future operational planning [18] - The lithium project is expected to commence production by early 2025, contributing to the company's diversification strategy [29] Additional Insights - The management emphasized the importance of transparent information disclosure and maintaining investor confidence through consistent communication and strategic initiatives [15] - The company aims to balance cash dividends and share buybacks to enhance shareholder returns while ensuring sufficient capital for operational needs [14] Conclusion - Hainan Mining is navigating a challenging market environment with strategic initiatives aimed at enhancing profitability and operational efficiency. The focus on diversification into lithium mining and ongoing mergers and acquisitions positions the company for future growth while addressing current production challenges in the iron ore sector.