Market Overview - The steel raw materials sector experienced a decline of 1.85% on January 20, with Fangda Carbon leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] Individual Stock Performance - Guangdong Mingzhu saw an increase of 2.36%, closing at 8.68, with a trading volume of 567,700 shares and a transaction value of 486 million yuan [1] - Baodi Mining increased by 1.54%, closing at 7.89, with a trading volume of 203,100 shares and a transaction value of 158 million yuan [1] - Steel Titanium Co. rose by 0.85%, closing at 3.56, with a trading volume of 2,017,800 shares and a transaction value of 709 million yuan [1] - Other stocks like Erdos, Jinling Mining, and Dazhong Mining experienced declines of 1.19%, 1.57%, and 1.94% respectively [1] Capital Flow Analysis - The steel raw materials sector saw a net outflow of 149 million yuan from main funds, while retail investors contributed a net inflow of 127 million yuan [1] - Dazhong Mining had a main fund net inflow of 16.29 million yuan, but a retail net outflow of 26.49 million yuan [2] - Fangda Carbon experienced a significant main fund net outflow of 1.19 billion yuan, with retail investors contributing a net inflow of 72.09 million yuan [2]

Group 1 - The company has completed the collection of its second batch of 15,000 tons of lithium concentrate, which is expected to be shipped by the end of January [2]

Group 1 - The steel raw materials sector increased by 2.99% compared to the previous trading day, with Guangdong Mingzhu leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] - Key stocks in the steel raw materials sector showed varied performance, with Guangdong Mingzhu rising by 9.99% to a closing price of 8.48, and Hebei Steel Resources declining by 1.62% to a closing price of 24.23 [1] Group 2 - The net inflow of main funds in the steel raw materials sector was 15.71 million yuan, while retail funds saw a net inflow of 21.07 million yuan [1] - Major stocks like Dazhong Mining and Guangdong Mingzhu experienced significant net inflows from main funds, with Dazhong Mining receiving 56.14 million yuan [2] - Retail investors showed a mixed response, with some stocks like Dazhong Mining and Guangdong Mingzhu facing net outflows from retail funds [2]

Group 1 - The Hainan Free Trade Port has successfully implemented a full closure operation for one month, with significant progress in policies and a stable overall operation, particularly in the lithium battery industry chain [1] - A ship carrying 30,000 tons of lithium concentrate arrived at Yangpu Port, marking the first "zero tariff" import of new energy minerals since the closure, which will supply Hainan Mining's lithium salt plant [1] - Hainan Mining invested $118 million to acquire controlling interest in the Bougouni lithium mine, which is expected to start production in 2025, establishing a complete industrial chain from mining to processing [1] Group 2 - Hainan Mining plans to complete the shipment of an additional 15,000 tons of lithium concentrate by the end of January, aiming to leverage the Free Trade Port's policy advantages to supply high-purity battery-grade lithium salt products globally [2] - CATL (Contemporary Amperex Technology Co., Limited) has initiated the Hainan Free Trade Port Zero Carbon Park Construction Alliance to promote multi-energy complementary integration and smart microgrid technology [2] - CATL has already started construction on five battery swap stations in Hainan, focusing on logistics and heavy-duty transportation, which will service approximately 320 electric heavy trucks [2] Group 3 - The closure of Hainan is enhancing the competitiveness of the lithium battery recycling sector, with a partnership established to build a facility capable of processing 20,000 tons of retired lithium batteries annually [3] - The core attraction of Hainan's closure is the establishment of a complete mechanism for efficient resource import, integrated processing, application in real scenarios, and export to overseas markets [3] - Hainan is expected to attract more upstream and downstream enterprises in the new energy industry, leveraging the benefits of "zero tariffs, geographical advantages, and green transformation" [3]

Core Viewpoint - Hainan Mining's stock price has decreased by 3.64% to 11.11 yuan as of January 16, 2026, with a total market capitalization of 22.201 billion yuan, ranking 5th in the steel raw materials sector and 942nd in the A-share market [1] Group 1: Company Announcements - Hainan Mining provided a maximum guarantee of 300 million yuan for its wholly-owned subsidiary, Hainan Haikang International Trade Co., Ltd., for a comprehensive credit application to Hainan Bank, with a guarantee period of three years [1][3] - The company held its first extraordinary general meeting of shareholders in 2026 on January 14, where four proposals were approved, including authorization to apply for comprehensive credit limits and provide guarantees for subsidiaries [2][3] - All proposals at the shareholders' meeting were passed, with the guarantee proposal receiving more than two-thirds of the valid voting rights [2][3] Group 2: Financial Performance - As of January 16, 2026, Hainan Mining's stock reached a high of 11.95 yuan and a low of 11.05 yuan during the week [1]

Core Viewpoint - The article discusses the transformation of Hainan into a significant hub for lithium battery production and green energy, driven by the implementation of a zero-tariff policy and the establishment of a comprehensive industrial chain from resource importation to processing and distribution [2][4]. Group 1: Lithium Industry Developments - Hainan Free Trade Port commenced full island closure operations on December 18, 2025, increasing the proportion of zero-tariff goods from approximately 21% to 74% [2]. - The first lithium signal post-closure was marked by the arrival of about 28,950 tons of lithium concentrate at the Guotou Yangpu Port, marking the first zero-tariff declaration for new energy minerals [3]. - Hainan Mining is advancing a project in Yangpu Industrial Park to produce 20,000 tons of battery-grade lithium hydroxide annually, with a total investment of approximately 1.056 billion yuan, aiming for trial production by February 2025 [5]. Group 2: Electric Vehicle Infrastructure - CATL is establishing a network of battery swap stations in Hainan, with plans to build over 22 swap stations within three years and more than 100 within five years, targeting electric heavy-duty trucks [7][8]. - The establishment of a zero-carbon park construction alliance, led by CATL, aims to promote green transformation and industrial collaboration in Hainan [10]. Group 3: Recycling and Sustainability Initiatives - Ruikemei plans to establish a joint venture in Haikou Comprehensive Bonded Zone to build a facility with a capacity of 20,000 tons per year for processing retired lithium batteries, focusing on green recycling and high-value regeneration for Southeast Asia and the Asia-Pacific region [11]. - The article emphasizes that the closure is not merely about cheaper imports but about facilitating smoother cross-border factor flows and bonded processing for re-export [12]. Group 4: Broader Green Energy Initiatives - Yangpu is also advancing offshore wind power demonstration projects and planning a manufacturing park for wind power equipment, targeting exports and operations in Southeast Asia [14]. - Additional projects, such as green methanol, are being accelerated to meet the demand for green shipping fuels and support the construction of international shipping hubs [15].

Group 1 - Hainan Mining's stock price decreased by 0.62% on January 15, with a trading volume of 407 million yuan, and a net financing purchase of 5.05 million yuan for the day [1] - The company's financing balance reached 425 million yuan, accounting for 1.89% of its market capitalization, indicating a high level compared to the past year [1] - Hainan Mining's main business includes iron ore mining, oil and gas exploration, and commodity trading, with revenue contributions of 40.82% from oil and gas and 28.72% from minerals [1] Group 2 - As of September 30, Hainan Mining had 50,600 shareholders, an increase of 8.38%, while the average circulating shares per person decreased by 7.74% [2] - For the period from January to September 2025, Hainan Mining reported a revenue of 3.36 billion yuan, a year-on-year increase of 5.93%, but a net profit of 312 million yuan, a decrease of 42.84% [2] - The company has distributed a total of 993 million yuan in dividends since its A-share listing, with 657 million yuan distributed in the last three years [3]

Meeting Overview - The first temporary shareholders' meeting of Hainan Mining Co., Ltd. was held on January 14, 2026, at the Hainan Ecological Software Park [1] - The meeting was convened by the board of directors and chaired by Chairman Teng Lei, utilizing a combination of on-site and online voting methods [1] Attendance and Voting - A total of 13 directors and the board secretary attended the meeting, along with some senior executives [3] - All resolutions presented at the meeting were approved without any objections [1][2] Resolutions Passed - The following key resolutions were approved: 1. Authorization for the company to apply for a comprehensive credit limit from financial institutions for the year 2026 [2] 2. Authorization to provide guarantees for subsidiaries for the year 2026 [2] 3. Approval of the ordinary related transactions for 2025 and the expected ordinary related transactions for 2026 [4] 4. Authorization to conduct foreign exchange derivative transactions and commodity futures hedging business for the year 2026 [4] Legal Compliance - The meeting was witnessed by Shanghai Jintiancheng Law Firm, confirming that all procedures and resolutions complied with relevant laws and regulations [4]

Core Viewpoint - Hainan Mining announced the approval of several proposals at its 2026 first extraordinary general meeting, including the authorization to apply for comprehensive credit limits from financial institutions and to provide guarantees for subsidiaries [1] Group 1: Proposals Approved - The company received approval for the proposal to authorize the application for comprehensive credit limits for the year 2026 [1] - The company was authorized to provide guarantees for its subsidiaries for the year 2026 [1] - The company also discussed the expected daily related transactions for 2025 and 2026 [1]

上海市锦天城律师事务所 关于海南矿业股份有限公司 2026 年第一次临时股东会之 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于海南矿业股份有限公司 2026 年第一次临时股东会之法律意见书 致：海南矿业股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受海南矿业股份有限公司 （以下简称"公司"）委托，就公司召开 2026 年第一次临时股东会（以下简称"本 次股东会"）的有关事宜，根据《中华人民共和国公司法》（以下简称"《公司 法》"）《上市公司股东会规则》等法律、法规和规范性文件以及《海南矿业股 份有限公司章程》（以下简称"《公司章程》"）的有关规定，出具本法律意见 书。 为出具本法律意见书，本所及本所律师依据《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）》等规定，严格履行 了法定职责，遵循了勤勉尽责和诚实信用原则，对本次股东会所涉及的相关事项 进行了必要的核查和验证，核查了本所认为 ...