证券代码：603132 证券简称：金徽股份 公告编号：2025-036 金徽矿业股份有限公司 关于 2025 年半年度利润分配预案的公告 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： 金徽矿业股份有限公司（以下简称"公司"）拟以截至 2025 年 6 月 30 日的总股本 97,800 万股为基数向利润分配预案实施时股权登记日登记在册 的全体股东每 10 股派发现金红利人民币 2.00 元（含税），不送红股，不以公 积金转增股本，共计派发现金红利 195,600,000.00 元（含税）。 本预案已经公司第二届董事会第十六次会议审议通过，尚需提交公司 股东大会审议。 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持分配 总额不变，相应调整每股分配金额，并将另行公告具体调整情况。 截至 2025 年 6 月 30 日，公司未分配利润为人民币 419,310,754.97 元（经 审计）。 经董事会决议，截至 2025 年 6 月 30 日公司总股本 97,800 万股进行测算， 拟向全体股东每 10 股 ...

（文章来源：每日经济新闻） 金徽股份（SH 603132，收盘价：13.68元）8月15日晚间发布公告称，金徽矿业股份有限公司为积极推 动江洛矿区资源整合项目及公司生产经营需要，拟以现金3.8亿元收购子公司甘肃豪森矿业有限公司剩 余51%的股权，收购完成后公司将持有豪森矿业100%的股权。 2024年1至12月份，金徽股份的营业收入构成为：铅锌有色金属占比99.86%，其他业务占比0.1%，其他 占比0.04%。 ...

格隆汇8月15日丨金徽股份(603132.SH)公布2025年半年度报告，报告期实现营业收入7.92亿元，同比增 长10.50%；归属于上市公司股东的净利润2.53亿元，同比增长19.62%；归属于上市公司股东的扣除非经 常性损益的净利润2.36亿元，同比增长7.82%；基本每股收益0.26元。拟拟向全体股东每10股派发现金 红利人民币2.00元（含税）。 ...

格隆汇8月15日丨金徽股份(603132.SH)公布，为积极推动江洛矿区资源整合项目及公司生产经营需要， 拟以现金38,000万元收购子公司甘肃豪森矿业有限公司（简称"豪森矿业"或"标的公司"）剩余51%的股 权，收购完成后公司将持有豪森矿业100%的股权。 ...

Important Notice [Statement on Report Authenticity](index=2&type=section&id=Statement%20on%20Report%20Authenticity) The company's board, supervisory board, and senior management affirm the semi-annual report's truthfulness and completeness, assuming legal responsibility - All directors attended the board meeting, affirming the financial report's truthfulness and completeness[6](index=6&type=chunk)[7](index=7&type=chunk) - This semi-annual report has not been audited[7](index=7&type=chunk) [Profit Distribution Plan](index=2&type=section&id=Profit%20Distribution%20Plan) The company's board approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of 2.00 yuan (tax inclusive) per 10 shares to all shareholders, totaling 195.6 million yuan | Indicator | Amount (RMB) | | :--- | :--- | | Undistributed Profit | 419,310,754.97 Yuan | | Total Share Capital | 978,000,000 Shares | | Cash Dividend per 10 Shares | 2.00 Yuan (tax inclusive) | | Total Cash Dividend | 195,600,000.00 Yuan (tax inclusive) | - This profit distribution does not involve bonus shares or capital reserve conversions[8](index=8&type=chunk) [Forward-Looking Statements Risk Disclaimer](index=2&type=section&id=Forward-Looking%20Statements%20Risk%20Disclaimer) The company advises investors that forward-looking statements regarding future plans and development strategies in this report do not constitute substantive commitments and carry investment risks - Forward-looking statements in this report, including future plans and development strategies, do not constitute substantive commitments to investors[9](index=9&type=chunk) [Related Party Fund Occupation and Guarantees](index=2&type=section&id=Related%20Party%20Fund%20Occupation%20and%20Guarantees) During the reporting period, the company had no non-operating fund occupation by controlling shareholders or other related parties, nor did it provide external guarantees in violation of decision-making procedures - No non-operating fund occupation by controlling shareholders or other related parties occurred[10](index=10&type=chunk) - No external guarantees were provided in violation of decision-making procedures[11](index=11&type=chunk) [Major Risk Warning](index=3&type=section&id=Major%20Risk%20Warning) The company advises investors to refer to "Section III Management Discussion and Analysis," "V. Other Disclosures," "(I) Potential Risks" for major risks - Major risk warnings are detailed in "Section III Management Discussion and Analysis," "V. Other Disclosures," "(I) Potential Risks"[12](index=12&type=chunk) Definitions [Definitions of Common Terms](index=5&type=section&id=Definitions%20of%20Common%20Terms) This section defines common terms used in the report, including the company, controlling shareholder, actual controller, major shareholders, and affiliated companies, to ensure accurate understanding - Defines "Company," "This Company," and "Jinhui Shares" as Jinhui Mining Co., Ltd[17](index=17&type=chunk) - Identifies "Yate Investment" as the controlling shareholder and "Mr. Li Ming" as the actual controller[17](index=17&type=chunk) - Lists major shareholders including Zhongming International, Aoya Industrial, Green Mining Fund, Jiaheng Baili, Shengxing Investment, and the First Employee Stock Ownership Plan[17](index=17&type=chunk) - Includes names of major subsidiaries and affiliated companies such as Tianshui Jinhui, Shaanxi Yatai, Jinhui Trading, Xingkai Hotel, and Xiejagou Mining[17](index=17&type=chunk) Company Profile and Key Financial Indicators [Company Basic Information](index=7&type=section&id=Company%20Basic%20Information) This section outlines the company's basic information, including Chinese name, abbreviation, foreign name, legal representative, board secretary contact details, and registered/office addresses - The company's Chinese name is Jinhui Mining Co., Ltd., abbreviated as Jinhui Shares, with Zhang Bin as the legal representative[21](index=21&type=chunk) - The company's registered and office addresses are in Liulin Town, Huixian County, Longnan City, Gansu Province; website is http://www.jinhuiky.com/[23](index=23&type=chunk) [Information Disclosure Channels](index=7&type=section&id=Information%20Disclosure%20Channels) The company designates Shanghai Securities News, China Securities Journal, Securities Daily, and Securities Times as information disclosure newspapers, publishes the semi-annual report on www.sse.com.cn, and maintains it at the company's Securities Legal Department - Company information disclosure newspapers include Shanghai Securities News, China Securities Journal, Securities Daily, and Securities Times[24](index=24&type=chunk) - The semi-annual report is published on www.sse.com.cn and available at the company's Securities Legal Department[24](index=24&type=chunk) [Company Stock Overview](index=8&type=section&id=Company%20Stock%20Overview) The company's A-shares are listed and traded on the Shanghai Stock Exchange, with stock abbreviation Jinhui Shares and stock code 603132 - The company's stock type is A-shares, listed on the Shanghai Stock Exchange[25](index=25&type=chunk) - Stock abbreviation is Jinhui Shares, stock code is 603132[25](index=25&type=chunk) [Key Accounting Data and Financial Indicators](index=8&type=section&id=Key%20Accounting%20Data%20and%20Financial%20Indicators) In H1 2025, revenue grew **10.50%** to **791.6 million yuan**, total profit increased **22.81%** to **293.2 million yuan**, and net profit attributable to shareholders rose **19.62%** to **253.1 million yuan**, primarily due to increased zinc production, sales, and prices 2025年上半年主要会计数据 | Major Accounting Data | Current Period (Jan-Jun) | Prior Period (Adjusted) | Change from Prior Period (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 791,609,650.96 Yuan | 716,420,268.76 Yuan | 10.50 | | Total Profit | 293,191,476.61 Yuan | 238,730,291.99 Yuan | 22.81 | | Net Profit Attributable to Shareholders of Listed Company | 253,123,196.86 Yuan | 211,597,666.05 Yuan | 19.62 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains and Losses) | 236,183,567.79 Yuan | 219,052,558.50 Yuan | 7.82 | | Net Cash Flow from Operating Activities | 337,357,502.01 Yuan | 282,275,046.35 Yuan | 19.51 | | Net Assets Attributable to Shareholders of Listed Company (End of Reporting Period) | 3,256,406,606.05 Yuan | 3,488,807,854.39 Yuan | -6.66 | | Total Assets (End of Reporting Period) | 7,490,603,026.37 Yuan | 6,896,647,919.91 Yuan | 8.61 | 2025年上半年主要财务指标 | Major Financial Indicators | Current Period (Jan-Jun) | Prior Period (Adjusted) | Change from Prior Period (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (Yuan/Share) | 0.26 | 0.22 | 18.18 | | Diluted Earnings Per Share (Yuan/Share) | 0.26 | 0.22 | 18.18 | | Basic Earnings Per Share (Excluding Non-Recurring Gains and Losses) (Yuan/Share) | 0.24 | 0.22 | 9.09 | | Weighted Average Return on Net Assets (%) | 7.63 | 6.14 | Increase by 1.49 percentage points | | Weighted Average Return on Net Assets (Excluding Non-Recurring Gains and Losses) (%) | 7.12 | 6.36 | Increase by 0.76 percentage points | - Growth in total profit and net profit attributable to shareholders was primarily due to increased zinc metal production, sales, and price appreciation[29](index=29&type=chunk) [Non-Recurring Gains and Losses](index=9&type=section&id=Non-Recurring%20Gains%20and%20Losses) During the reporting period, total non-recurring gains and losses amounted to **16.94 million yuan**, primarily comprising government subsidies and non-current asset disposal gains/losses 2025年上半年非经常性损益项目 | Non-Recurring Gains and Losses Item | Amount (RMB) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -334,073.63 Yuan | | Government Subsidies Included in Current Profit/Loss | 19,217,788.78 Yuan | | Other Non-Operating Income and Expenses Apart from the Above | -130,050.56 Yuan | | Less: Income Tax Impact | 1,813,059.25 Yuan | | Impact on Minority Interests (After Tax) | 976.27 Yuan | | Total | 16,939,629.07 Yuan | Management Discussion and Analysis [Industry and Main Business Overview](index=11&type=section&id=Industry%20and%20Main%20Business%20Overview) The company primarily engages in non-ferrous metal mining and processing, with main products being zinc concentrate and lead concentrate (including silver). In H1 2025, zinc prices fluctuated, and lead prices saw a stepped increase followed by a decline, reflecting complex market dynamics. The company holds multiple mining and exploration rights, with an annual ore mining and processing capacity of **1.78 million tons** - The company operates in the non-ferrous metal mining and processing industry, with main products being zinc concentrate and lead concentrate (including silver)[35](index=35&type=chunk) - In H1 2025, zinc prices rose year-on-year but saw a cumulative decline of **13.07%** during the reporting period, mainly due to increased refined zinc supply and slow downstream demand recovery[36](index=36&type=chunk) - In H1 2025, lead prices showed a stepped increase followed by a decline, with a cumulative increase of **1.04%**, influenced by battery plant restarts, tariff policies, and downstream demand[38](index=38&type=chunk)[39](index=39&type=chunk) - The company holds **4** mining rights and **6** exploration rights, with an annual ore mining and processing capacity of **1.78 million tons**, positioning it as a large-scale, efficient green mining enterprise in Gansu Province[41](index=41&type=chunk) [Operating Performance Analysis](index=12&type=section&id=Operating%20Performance%20Analysis) During the reporting period, both operating revenue and net profit grew, primarily driven by increased zinc concentrate production, sales, and price appreciation. The company advanced the Jiangluo mining area beneficiation project, completed the acquisition of Haosen Mining equity, and enhanced investments in safety, environmental protection, resource exploration, and technological innovation, securing multiple patents 2025年上半年主要经营业绩 | Indicator | Amount (RMB) | Year-on-Year Growth (%) | | :--- | :--- | :--- | | Operating Revenue | 791.61 million Yuan | 10.50 | | Net Profit | 251.43 million Yuan | 20.54 | | Net Profit Attributable to Shareholders of Listed Company | 253.12 million Yuan | 19.62 | 2025年上半年产品产销量 | Product Name | Production Volume H1 2025 (Metal Tons) | Sales Volume H1 2025 (Metal Tons) | Production Volume H1 2024 (Metal Tons) | Sales Volume H1 2024 (Metal Tons) | Production Volume Change (%) | Sales Volume Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Zinc Concentrate | 33,361.58 | 33,343.92 | 30,659.64 | 30,407.18 | 8.81 | 9.66 | | Lead Concentrate (including Silver) | 10,819.24 | 10,817.73 | 10,636.12 | 10,855.20 | 1.72 | -0.35 | - Continued progress on the Jiangluo mining area Xiejagou flotation plant (1.5 million tons/year) beneficiation project, with main structures completed and key equipment entering installation and commissioning, expected to meet trial production conditions by end of **2025**[46](index=46&type=chunk) - Completed the acquisition of **49%** equity in Haosen Mining, further promoting the integration of the Jiangluo mining area[46](index=46&type=chunk) - Upgraded mine 5G+WiFi6 industrial ring network, established a new safety production centralized control center, achieving unattended fixed positions and remote system control[47](index=47&type=chunk) - Strengthened geological exploration in Guojiagou, Jiangluo, Dongpo, and Jiangkou mining areas; Huixian Dongpo lead-zinc mine general survey project achieved an ore discovery rate of over **80%**, with detailed survey report expected by **2026**[48](index=48&type=chunk)[49](index=49&type=chunk) - Undertook **12** scientific research projects, obtaining **1** invention patent and **2** utility model patents, optimizing the Guojiagou intelligent ventilation system, and deploying a mining comprehensive management platform and beneficiation plant grinding intelligent expert system software[50](index=50&type=chunk) [Core Competitiveness Analysis](index=14&type=section&id=Core%20Competitiveness%20Analysis) The company's core competitiveness lies in green development, abundant resource reserves, advanced technology, an experienced management team, and high-standard environmental and safety measures, collectively supporting its leading position and sustainable development in the non-ferrous metal mining industry - The company has been awarded titles such as "National First Batch of Green Factories" and "National Green Mine," practicing green development principles[52](index=52&type=chunk) - Possesses abundant lead-zinc resource reserves, with Guojiagou lead-zinc mine exploration achievements receiving multiple awards, and continuous increased investment in exploration rights[53](index=53&type=chunk) - Geological exploration employs "interface ore control theory," mining uses "main adit + main and auxiliary shafts" development and mechanized operations, and beneficiation independently developed full-process potential control technology, achieving a comprehensive recovery rate higher than green mine standards[54](index=54&type=chunk) - The management team is highly experienced in exploration, mining, beneficiation, corporate management, and technological R&D, forming a complete and efficient green mine management mechanism[55](index=55&type=chunk)[56](index=56&type=chunk) - Adopts high-standard mining and beneficiation processes and environmental protection measures, achieving production water recycling, reduced pollution from underground crushing, backfilling of goafs with waste rock and slag, and a three-dimensional drainage system for tailings ponds[57](index=57&type=chunk) [Key Operating Performance](index=16&type=section&id=Key%20Operating%20Performance) During the reporting period, operating revenue increased by **10.50%**, while operating costs slightly decreased. Management and financial expenses significantly rose by **26.15%** and **46.23%**, respectively. Net cash flow from operating activities increased by **19.51%**, while net cash flow from investing activities saw a substantial outflow due to increased project construction investments. The company optimized its business layout by acquiring Haosen Mining and establishing Jiate Mining 2025年上半年财务报表相关科目变动 | Account | Current Period Amount (Yuan) | Prior Period Amount (Yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 791,609,650.96 | 716,420,268.76 | 10.50 | | Operating Cost | 283,543,967.27 | 284,645,407.41 | -0.39 | | Selling Expenses | 541,464.55 | 511,066.13 | 5.95 | | Administrative Expenses | 110,629,686.15 | 87,699,237.63 | 26.15 | | Financial Expenses | 63,750,637.97 | 43,596,447.77 | 46.23 | | R&D Expenses | 22,967,212.41 | 22,686,354.64 | 1.24 | | Net Cash Flow from Operating Activities | 337,357,502.01 | 282,275,046.35 | 19.51 | | Net Cash Flow from Investing Activities | -901,734,722.82 | -504,574,037.02 | -78.72 | | Net Cash Flow from Financing Activities | 518,104,178.22 | 330,828,181.52 | 56.61 | - Operating revenue growth was primarily due to increased zinc metal production, sales, and price appreciation[58](index=58&type=chunk) - The increase in administrative expenses was mainly due to new tailings pond closure costs for the Jiangluo mining area beneficiation plant[59](index=59&type=chunk) - The increase in financial expenses was primarily due to increased bank loans and corresponding interest expenses[60](index=60&type=chunk) - Significant outflow in net cash flow from investing activities was mainly due to increased project construction investments[61](index=61&type=chunk) 2025年上半年资产及负债状况变动 | Item Name | Current Period End Amount (Yuan) | Proportion of Total Assets at Period End (%) | Prior Year End Amount (Yuan) | Proportion of Total Assets at Prior Year End (%) | Change from Prior Year End (%) | Explanation | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Prepayments | 10,131,716.53 | 0.14 | 2,831,902.93 | 0.04 | 257.77 | Increase in prepaid material costs | | Other Receivables | 28,697,570.98 | 0.38 | 11,607,670.45 | 0.17 | 147.23 | Increase in external loans | | Other Current Assets | 65,222,404.67 | 0.87 | 46,793,910.74 | 0.68 | 39.38 | Increase in input VAT to be deducted | | Construction in Progress | 1,104,267,320.44 | 14.74 | 800,006,487.40 | 11.60 | 38.03 | Increase in engineering project investment | | Accounts Payable | 114,337,723.00 | 1.53 | 58,672,346.06 | 0.85 | 94.87 | Increase in project progress payments and equipment procurement payments | | Contract Liabilities | 19,073,411.49 | 0.25 | 6,412,842.74 | 0.09 | 197.43 | Increase in advance receipts for goods at period end | | Other Payables | 32,006,676.41 | 0.43 | 230,099,464.10 | 3.34 | -86.09 | Repayment of loans after acquiring Haosen Mining | | Non-Current Liabilities Due Within One Year | 449,506,285.88 | 6.00 | 301,653,382.16 | 4.37 | 49.01 | Increase in financial institution borrowings | | Long-Term Borrowings | 1,844,243,048.65 | 24.62 | 1,111,419,195.67 | 16.12 | 65.94 | Increase in financial institution borrowings | 2025年上半年主要资产受限情况 | Item | Period End Balance (Yuan) | Reason for Restriction | | :--- | :--- | :--- | | Cash and Bank Balances | 72,636,200.00 | Letter of Guarantee Deposit | | Fixed Assets | 758,160,772.19 | Obtaining Financial Institution Loans | | Intangible Assets | 667,527,191.79 | Bank Loans | | Total | 1,498,324,163.98 | | - Acquired **49%** equity in Haosen Mining from related party Yate Investment for **270 million yuan** in cash, completing industrial and commercial change registration[65](index=65&type=chunk) - Established wholly-owned subsidiary Jiate Mining with a registered capital of **20 million yuan**, primarily engaged in mineral resource exploration, mining, beneficiation, and sales[66](index=66&type=chunk) 2025年上半年主要子公司财务数据 | Company Name | Company Type | Main Business | Registered Capital (Yuan) | Total Assets (Yuan) | Net Assets (Yuan) | Operating Revenue (Yuan) | Operating Profit (Yuan) | Net Profit (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Tianshui Jinhui | Subsidiary | Mineral Exploration and Mining | 5,000,000.00 | 12,592,372.19 | -2,210,145.06 | 0 | -13.36 | 303.64 | | Shaanxi Yatai | Subsidiary | Mining Engineering | 80,000,000.00 | 139,666,566.82 | 52,617,842.09 | 4,814,166.64 | -1,089,170.78 | -1,133,237.49 | | Xingkai Hotel | Subsidiary | Hotel Management | 2,000,000.00 | 3,519,508.59 | -1,285,578.84 | 3,839,441.04 | -110,505.91 | -110,316.97 | | Jinhui Trading | Subsidiary | Trading | 50,000,000.00 | 50,077,026.71 | 48,828,790.58 | 0 | -107,678.80 | -107,665.16 | | Xiejagou Mining | Subsidiary | Lead-Zinc Mining | 149,800,000.00 | 625,150,579.67 | 165,447,143.31 | 38,807,818.66 | 9,104,397.20 | 5,939,707.31 | | Minghao Mining | Subsidiary | Mineral Beneficiation | 210,000,000.00 | 543,767,638.09 | 229,387,391.69 | 87,944,138.61 | 7,925,299.73 | 5,997,699.47 | | Hongtai Industrial | Subsidiary | Mineral Beneficiation | 6,800,000.00 | 56,960,171.20 | 27,291,940.39 | 8,030,033.67 | 1,349,385.84 | 957,038.76 | | Xiejagou Flotation Plant | Subsidiary | Mineral Beneficiation | 363,000,000.00 | 906,203,647.10 | 340,613,911.06 | 37.74 | -4,598,348.32 | -6,065,827.37 | | Longjiang Mining | Subsidiary | Mineral Beneficiation | 5,000,000.00 | 4,747,721.35 | 3,043,607.16 | 0 | 1,658,192.49 | 1,658,947.53 | | Xiangyangshan Mining | Subsidiary | Lead-Zinc Mining | 350,000,000.00 | 473,675,412.02 | 381,254,592.51 | 45,190,310.07 | 23,117,540.48 | 21,306,086.85 | | Haosen Mining | Subsidiary | Mineral Resource Exploration, Smelting, Sales | 20,000,000.00 | 178,185,148.55 | -31,487,337.95 | 0 | -3,196,709.92 | -3,196,709.92 | | Jiate Mining | Subsidiary | Mineral Resource Exploration, Smelting, Sales | 20,000,000.00 | 0 | 0 | 0 | 0 | 0 | - The acquisition of Haosen Mining is a key component of the Jiangluo mining area asset group; it has not yet commenced production and operations during the reporting period and has not had a significant impact on the company's performance[70](index=70&type=chunk) - Jiate Mining has not yet commenced operations since its establishment and has not had a significant impact on the company's production, operations, or performance[70](index=70&type=chunk) [Other Disclosures](index=21&type=section&id=Other%20Disclosures) The company faces risks including product price fluctuations, resource reserves, discrepancies between mining plans and actual results, safety production, and natural disasters. The company actively implements its "Quality Improvement, Efficiency Enhancement, and High Returns" action plan through performance growth, cash dividends, director/supervisor/senior management share increases, technological innovation, and investor relations management to enhance shareholder value and corporate governance - The prices of the company's main products are influenced by economic cycles, supply-demand dynamics, and other factors, posing price fluctuation risks[70](index=70&type=chunk) - Mine resource reserves are fundamental to the company's long-term development, with risks of insufficient reserves or exploration results falling short of expectations[71](index=71&type=chunk) - Complex geological structures may lead to significant discrepancies between mining plans and actual extraction results[72](index=72&type=chunk) - Underground mining operations, explosive material management, beneficiation operations, and tailings pond storage pose safety production risks[73](index=73&type=chunk) - The company's mine portals, beneficiation plants, and tailings ponds are located in mountainous areas, facing risks from heavy rain, mudslides, earthquakes, and other natural disasters[74](index=74&type=chunk) - In H1 2025, the company's operating revenue grew by **10.50%**, net profit by **20.54%**, and net profit attributable to the parent company by **19.62%**[75](index=75&type=chunk) - The 2024 annual profit distribution has been completed, with a cash dividend of **0.22 yuan** (tax inclusive) per share, totaling **215.16 million yuan**[75](index=75&type=chunk) - During the reporting period, some directors, supervisors, and senior management collectively increased their holdings in the company by **278,000 shares**[76](index=76&type=chunk) - Advanced **12** scientific research projects during the reporting period, obtaining **1** invention patent and **2** utility model patents[76](index=76&type=chunk) - Held **1** performance briefing and organized **2** "Investors Visiting Listed Companies" events, engaging in in-depth communication with investors through diversified channels[76](index=76&type=chunk) - Continuously refined governance system construction, strengthened performance management of "key individuals," and enhanced compliance awareness and risk control capabilities[77](index=77&type=chunk) Corporate Governance, Environment, and Society [Changes in Directors, Supervisors, and Senior Management](index=24&type=section&id=Changes%20in%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, there were no changes in the company's directors, supervisors, or senior management - No changes occurred in the company's directors, supervisors, or senior management during the reporting period[79](index=79&type=chunk) [Semi-Annual Profit Distribution Plan](index=24&type=section&id=Semi-Annual%20Profit%20Distribution%20Plan) The company proposed a 2025 semi-annual profit distribution plan, intending to distribute a cash dividend of **2.00 yuan** (tax inclusive) per 10 shares to all shareholders, totaling **195.6 million yuan**, with no bonus shares or capital reserve conversions 2025年半年度利润分配预案 | Indicator | Amount | | :--- | :--- | | Distributed or Converted | Yes | | Bonus Shares per 10 Shares | 0 | | Cash Dividend per 10 Shares (Yuan) (Tax Inclusive) | 2.00 | | Capitalized Shares per 10 Shares | 0 | - The supervisory board believes the plan complies with relevant regulations, considers investor interests, and promotes the company's sustained, stable, and healthy development[80](index=80&type=chunk) [Environmental Information Disclosure](index=25&type=section&id=Environmental%20Information%20Disclosure) The company and its **6** major subsidiaries are included in the list of enterprises required to disclose environmental information by law, with provided indices for environmental information disclosure reports - The company and **6** major subsidiaries are included in the list of enterprises required to disclose environmental information by law[82](index=82&type=chunk) 纳入环境信息依法披露企业名单的子公司 | No | Enterprise Name | | :--- | :--- | | 1 | Jinhui Mining Co., Ltd. | | 2 | Huixian Jiangluo Xiejagou Lead-Zinc Flotation Plant Co., Ltd. | | 3 | Gansu Huixian Hongtai Industrial Co., Ltd. | | 4 | Huixian Minghao Mining Co., Ltd. | | 5 | Huixian Longjiang Mining Co., Ltd. | | 6 | Huixian Xiejagou Lead-Zinc Mining Co., Ltd. | Significant Matters [Fulfillment of Commitments](index=26&type=section&id=Fulfillment%20of%20Commitments) The company's actual controller, shareholders, and directors, supervisors, and senior management strictly fulfilled various commitments during the reporting period, including share lock-up, stock price stabilization, avoidance of horizontal competition, reduction and standardization of related party transactions, prospectus authenticity, compensation for diluted immediate returns, social security and housing provident fund payment responsibilities, and shareholder reduction intentions - Li Ming, Yate Investment, and others committed not to transfer shares issued before the initial public offering for **36 months** from the listing date, with the lock-up period ending on **February 21, 2025**[86](index=86&type=chunk) - Zhongming International, Aoya Industrial, Shengxing Investment, and Jiaheng Baili committed that the reduction price would not be lower than the offering price within **two years** after the lock-up period expires[87](index=87&type=chunk) - The company, Yate Investment, Li Ming, and directors, supervisors, and senior management committed to stabilizing the stock price; failure to do so would result in timely disclosure of reasons and supplementary commitments[89](index=89&type=chunk)[90](index=90&type=chunk) - Yate Investment, Zhongming International, Green Mining Fund, and Li Ming committed to avoiding horizontal competition and ensuring other controlled entities fulfill non-competition obligations[91](index=91&type=chunk) - Yate Investment, Li Ming, Zhongming International, Green Mining Fund, and Aoya Industrial committed to reducing and standardizing related party transactions, conducting them at fair market prices, and strictly adhering to decision-making procedures[92](index=92&type=chunk)[93](index=93&type=chunk) - Yate Investment and Li Ming committed to bearing the responsibility for supplementary payments of social insurance and housing provident fund for the company and its subsidiaries that were not fully paid[95](index=95&type=chunk) - Yate Investment, Zhongming International, Aoya Industrial, Li Xiong, and Li Ming committed that the number of shares reduced annually within **two years** after the lock-up period expires would not exceed **25%** of their total company shares[96](index=96&type=chunk) [Significant Related Party Transactions](index=32&type=section&id=Significant%20Related%20Party%20Transactions) During the reporting period, the company engaged in multiple daily operating related party transactions, primarily involving engineering construction, raw material procurement, and labor services, with pricing based on fair market value. Additionally, the company acquired **49%** equity in Haosen Mining from related party Yate Investment for cash 2025年上半年日常关联交易情况 | Related Party | Relationship | Transaction Type | Transaction Content | Transaction Amount (Yuan) | Proportion of Similar Transactions (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Gansu Maoda Construction Engineering Co., Ltd. | Company controlled by actual controller's close relatives | Receiving Services | Engineering Construction | 108,183,748.37 | 14.77 | | Gansu Jinyuxinda Construction Engineering Co., Ltd. | Wholly-owned subsidiary of company shareholder Aoya Industrial | Receiving Services | Engineering Construction | 20,706,709.60 | 2.83 | | Gansu Jinhui Modern Agriculture Development Co., Ltd. | Company controlled by controlling shareholder | Purchasing Raw Materials from Related Party | Seedlings, Ingredients, Welfare Cards, Alcohol | 9,774,987.43 | 7.04 | | Gansu Jinhui Xinke Material Co., Ltd. | Company controlled by controlling shareholder | Purchasing Raw Materials from Related Party | Sand and Gravel, Lime | 5,578,130.05 | 4.02 | | Total | | | | 146,495,097.00 | | - On **March 9, 2025**, the company approved the 2024 annual and estimated 2025 annual daily related party transaction proposals, with an estimated cumulative amount of **586 million yuan** for 2025 daily related party transactions[102](index=102&type=chunk) - Acquired **49%** equity in Haosen Mining from related party Yate Investment for **270 million yuan** in cash, completing industrial and commercial change registration on **January 9, 2025**[65](index=65&type=chunk) [Significant Contracts and Guarantees](index=35&type=section&id=Significant%20Contracts%20and%20Guarantees) During the reporting period, the company had no trusteeship, contracting, or leasing matters. To meet the construction and operational needs of its subsidiaries, the company provided guarantees totaling **216 million yuan**, representing **6.68%** of its net assets, deemed necessary and reasonable 2025年上半年公司担保总额情况 | Indicator | Amount (RMB) | | :--- | :--- | | Total Guarantees Provided to Subsidiaries During Reporting Period | 216,000,000.00 | | Total Guarantee Balance for Subsidiaries at Period End (B) | 216,000,000.00 | | Total Guarantees (A+B) | 216,000,000.00 | | Proportion of Total Guarantees to Company's Net Assets (%) | 6.68 | - The guarantees were provided to meet the funding needs for the construction and operation of the Jiangluo mining area integration project by subsidiaries, demonstrating necessity and reasonableness[106](index=106&type=chunk) [Progress of Raised Funds Utilization](index=36&type=section&id=Progress%20of%20Raised%20Funds%20Utilization) The company's net proceeds from its IPO were **956 million yuan**, with a cumulative investment of **857 million yuan** by the end of the reporting period, representing an **89.62%** progress. This year's investment of **131 million yuan** was primarily for the Jiangluo mining area beneficiation project, Guojiagou green mine upgrade project, and bank loan repayment. The company also temporarily used **60 million yuan** of idle raised funds to supplement working capital 2025年上半年募集资金整体使用情况 | Total Raised Funds (Yuan) | Net Raised Funds (Yuan) | Total Investment Pledged in Prospectus (Yuan) | Cumulative Raised Funds Invested by Period End (Yuan) | Cumulative Investment Progress by Period End (%) | Amount Invested This Year (Yuan) | Proportion of Amount Invested This Year (%) | Total Raised Funds with Changed Use (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | 1,058,400,000.00 | 956,188,273.68 | 956,188,273.68 | 856,920,312.88 | 89.62 | 131,483,821.31 | 13.75 | 40,000,000.00 | 2025年上半年募投项目明细使用情况 | Project Name | Planned Total Investment of Raised Funds (Yuan) | Amount Invested This Year (Yuan) | Cumulative Raised Funds Invested by Period End (Yuan) | Cumulative Investment Progress at Period End (%) | Date Project Reaches Intended Usable State | | :--- | :--- | :--- | :--- | :--- | :--- | | Jinhui Mining Co., Ltd. Jiangluo Mining Area Lead-Zinc Mine (3 million tons/year) Beneficiation Project | 400,000,000.00 | 103,496,876.95 | 358,069,368.52 | 89.52 | September 2027 | | Jinhui Mining Co., Ltd. Huixian Guojiagou Lead-Zinc Mine Green Mine Upgrade Project | 241,188,273.68 | 27,986,944.36 | 183,850,944.36 | 76.23 | December 2025 | | Gansu Province Huixian Guojiagou Lead-Zinc Mine Production Exploration Project | 30,000,000.00 | 0 | 30,000,000.00 | 100.00 | December 2025 | | Repayment of Bank Loans | 285,000,000.00 | 0 | 285,000,000.00 | 100.00 | Not Applicable | - On **April 18, 2025**, the company approved the temporary use of up to **60 million yuan** of idle raised funds to supplement working capital for a period not exceeding **12 months**[114](index=114&type=chunk) Share Changes and Shareholder Information [Share Capital Changes](index=41&type=section&id=Share%20Capital%20Changes) During the reporting period, the company's total share capital remained unchanged at **978 million shares**. However, **818.4 million restricted shares** (**83.68%** of total share capital) were lifted on **February 22, 2025**, and became tradable on **February 24**, significantly increasing unrestricted tradable shares 2025年上半年股份变动情况 | Share Type | Quantity Before Change (Shares) | Proportion Before Change (%) | Change (+, -) (Shares) | Quantity After Change (Shares) | Proportion After Change (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | I. Restricted Shares | 818,400,000 | 83.68 | -818,400,000 | 0 | 0 | | 3. Other Domestic Shares | 618,400,000 | 63.23 | -618,400,000 | 0 | 0 | | Of which: Domestic Non-State-Owned Corporate Shares | 613,400,000 | 62.72 | -613,400,000 | 0 | 0 | | Domestic Natural Person Shares | 5,000,000 | 0.51 | -5,000,000 | 0 | 0 | | 4. Foreign Shares | 200,000,000 | 20.45 | -200,000,000 | 0 | 0 | | Of which: Foreign Corporate Shares | 200,000,000 | 20.45 | -200,000,000 | 0 | 0 | | II. Unrestricted Tradable Shares | 159,600,000 | 16.32 | 818,400,000 | 978,000,000 | 100 | | 1. RMB Ordinary Shares | 159,600,000 | 16.32 | 818,400,000 | 978,000,000 | 100 | | III. Total Shares | 978,000,000 | 100 | 0 | 978,000,000 | 100 | - A total of **818.4 million restricted shares** held by shareholders Yate Investment, Zhongming International, Aoya Industrial, Jiaheng Baili, Shengxing Investment, and natural person Li Xiong expired on **February 22, 2025**, and became tradable on **February 24**[119](index=119&type=chunk)[120](index=120&type=chunk) [Details of Restricted Share Changes](index=42&type=section&id=Details%20of%20Restricted%20Share%20Changes) During the reporting period, all **818.4 million restricted shares** held by shareholders including Yate Investment, Zhongming International, Aoya Industrial, Jiaheng Baili, Shengxing Investment, and Li Xiong were lifted on **February 22, 2025**, resulting in zero restricted shares at period end 2025年上半年限售股份变动情况 | Shareholder Name | Restricted Shares at Period Start (Shares) | Restricted Shares Released During Reporting Period (Shares) | Restricted Shares Increased During Reporting Period (Shares) | Restricted Shares at Period End (Shares) | Reason for Restriction | Date of Restriction Lift | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Yate Investment | 495,000,000 | 495,000,000 | 0 | 0 | Initial Public Offering | February 22, 2025 | | Zhongming International | 200,000,000 | 200,000,000 | 0 | 0 | Initial Public Offering | February 22, 2025 | | Aoya Industrial | 65,600,000 | 65,600,000 | 0 | 0 | Initial Public Offering | February 22, 2025 | | Jiaheng Baili | 26,400,000 | 26,400,000 | 0 | 0 | Initial Public Offering | February 22, 2025 | | Shengxing Investment | 26,400,000 | 26,400,000 | 0 | 0 | Initial Public Offering | February 22, 2025 | | Li Xiong | 5,000,000 | 5,000,000 | 0 | 0 | Initial Public Offering | February 22, 2025 | | Total | 818,400,000 | 818,400,000 | 0 | 0 | / | / | [Shareholder Information](index=42&type=section&id=Shareholder%20Information) As of the end of the reporting period, the company had **22,319** ordinary shareholders. Among the top ten shareholders, Gansu Yate Investment Group Co., Ltd. held **50.61%** and Zhongming International Holdings Group Co., Ltd. held **20.45%**, with some shares pledged. The top ten unrestricted shareholders were largely consistent with the top ten shareholders - As of the end of the reporting period, the total number of ordinary shareholders was **22,319**[122](index=122&type=chunk) 2025年上半年末前十名股东持股情况 | Shareholder Name | Shares Held at Period End (Shares) | Proportion (%) | Number of Restricted Shares Held (Shares) | Share Status | Pledged Quantity (Shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Gansu Yate Investment Group Co., Ltd. | 495,000,000 | 50.61 | 0 | Pledged | 403,600,000 | Domestic Non-State-Owned Corporate | | Zhongming International Holdings Group Co., Ltd. | 200,000,000 | 20.45 | 0 | Pledged | 165,000,000 | Foreign Corporate | | Huixian Aoya Industrial Co., Ltd. | 65,600,000 | 6.71 | 0 | Pledged | 31,000,000 | Domestic Non-State-Owned Corporate | | Gansu Green Mineral Investment Development Fund (Limited Partnership) | 61,600,000 | 6.30 | 0 | None | 0 | Other | | Hainan Jiaheng Baili Investment Center (Limited Partnership) | 26,400,000 | 2.70 | 0 | None | 0 | Other | | Hainan Shengxing Investment Center (Limited Partnership) | 26,400,000 | 2.70 | 0 | None | 0 | Other | | Jinhui Mining Co., Ltd. - First Employee Stock Ownership Plan | 16,480,162 | 1.69 | 0 | None | 0 | Other | | Li Xiong | 5,000,000 | 0.51 | 0 | None | 0 | Domestic Natural Person | | Deng Shuai | 2,506,300 | 0.26 | 0 | None | 0 | Domestic Natural Person | | Gu Bo | 1,777,700 | 0.18 | 0 | None | 0 | Domestic Natural Person | - Li Ming, controlling shareholder of Yate Investment; ZHOUXIAODONG, actual controller of Zhongming International; Zhou Junmei, controlling shareholder of Aoya Industrial; Li Suoyin, shareholder; and Li Xiong, natural person shareholder of the company, are relatives and constitute parties acting in concert[126](index=126&type=chunk) [Changes in Shareholdings of Directors, Supervisors, and Senior Management](index=44&type=section&id=Changes%20in%20Shareholdings%20of%20Directors%2C%20Supervisors%2C%20and%20Senior%20Management) During the reporting period, some directors, supervisors, and senior management collectively increased their holdings in the company by **278,000 shares**, based on their recognition of the company's long-term investment value; the share increase plan is not yet fully implemented 2025年上半年董监高持股变动情况 | Name | Position | Shares Held at Period Start (Shares) | Shares Held at Period End (Shares) | Change in Shares During Reporting Period (Shares) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | :--- | | Zhang Bin | Chairman | 0 | 52,000 | 52,000 | Increased Company Shares | | Zhang Shixin | Director | 0 | 100,000 | 100,000 | Increased Company Shares | | Xiao Yun | Director, Deputy General Manager | 0 | 27,000 | 27,000 | Increased Company Shares | | Dou Ping | Director, Deputy General Manager | 0 | 22,000 | 22,000 | Increased Company Shares | | Meng Xiangrui | Director, Chief Engineer | 0 | 21,000 | 21,000 | Increased Company Shares | | Yi Tingbin | Independent Director | 0 | 5,000 | 5,000 | Increased Company Shares | | Zhang Yanqing | Independent Director | 0 | 8,700 | 8,700 | Increased Company Shares | | Yan Yingquan | Chairman of Supervisory Board | 0 | 18,000 | 18,000 | Increased Company Shares | | Wang Shaobin | Supervisor | 0 | 6,300 | 6,300 | Increased Company Shares | | Wang Feng | Deputy General Manager | 0 | 17,900 | 17,900 | Increased Company Shares | - This share increase plan has not yet been fully implemented[129](index=129&type=chunk) Bond-Related Information [Corporate Bonds and Debt Financing Instruments](index=47&type=section&id=Corporate%20Bonds%20and%20Debt%20Financing%20Instruments) During the reporting period, the company had no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments - The company has no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments[133](index=133&type=chunk) [Convertible Corporate Bonds](index=47&type=section&id=Convertible%20Corporate%20Bonds) During the reporting period, the company had no convertible corporate bonds - The company has no convertible corporate bonds[133](index=133&type=chunk) Financial Report [Audit Report](index=48&type=section&id=Audit%20Report) This semi-annual report has not been audited - This semi-annual report has not been audited[135](index=135&type=chunk) [Financial Statements](index=48&type=section&id=Financial%20Statements) This section presents the company's H1 2025 consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owner's equity, comprehensively reflecting the financial position and operating results at the end of the reporting period - The consolidated balance sheet shows that as of **June 30, 2025**, the company's total assets were **7.491 billion yuan**, total liabilities **4.251 billion yuan**, and total owner's equity **3.239 billion yuan**[136](index=136&type=chunk)[138](index=138&type=chunk) - The consolidated income statement shows total operating revenue of **791.6 million yuan**, net profit of **251.4 million yuan**, and net profit attributable to parent company shareholders of **253.1 million yuan** for H1 2025[147](index=147&type=chunk)[151](index=151&type=chunk) - The consolidated cash flow statement shows net cash flow from operating activities of **337.4 million yuan**, net cash flow from investing activities of **-901.7 million yuan**, and net cash flow from financing activities of **518.1 million yuan** for H1 2025[160](index=160&type=chunk)[163](index=163&type=chunk) [Company Basic Information](index=68&type=section&id=Company%20Basic%20Information) The company, formerly Gansu Jinhui Mining Co., Ltd., was restructured into a joint-stock company in **2020**, headquartered in Longnan City, Gansu Province, with a registered capital of **978 million yuan**. Its shares were listed on the Shanghai Stock Exchange on **February 22, 2022**, primarily engaging in lead-zinc mineral mining, beneficiation, processing, and sales - The company's predecessor was Gansu Jinhui Mining Co., Ltd., which was restructured into a joint-stock company on **December 22, 2020**[186](index=186&type=chunk) - The company has a registered capital of **978 million yuan** and a total of **978 million shares**, with its shares listed on the Shanghai Stock Exchange on **February 22, 2022**[186](index=186&type=chunk) - The company belongs to the non-ferrous metal mining and beneficiation industry, with its main business activities being the mining, beneficiation, processing, and sales of lead-zinc mineral products[186](index=186&type=chunk) [Basis of Financial Statement Preparation](index=68&type=section&id=Basis%20of%20Financial%20Statement%20Preparation) The company's financial statements are prepared on a going concern basis, with no events or circumstances raising significant doubt about its ability to continue as a going concern for the next **12 months** from the end of the reporting period - The company's financial statements are prepared on a going concern basis[187](index=187&type=chunk) - There are no events or circumstances that raise significant doubt about the company's ability to continue as a going concern for the next **12 months** from the end of the reporting period[188](index=188&type=chunk) [Significant Accounting Policies and Estimates](index=68&type=section&id=Significant%20Accounting%20Policies%20and%20Estimates) This section details the company's specific accounting policies and estimates for financial instrument impairment, inventories, fixed asset depreciation, construction in progress, intangible assets, and revenue recognition, ensuring compliance with enterprise accounting standards - The company has formulated specific accounting policies and estimates for transactions and matters such as financial instrument impairment, inventories, fixed asset depreciation, construction in progress, intangible assets, and revenue recognition, based on its actual production and operational characteristics[189](index=189&type=chunk) - The company's accounting year runs from **January 1** to **December 31** of the Gregorian calendar, with the functional currency being RMB[191](index=191&type=chunk)[193](index=193&type=chunk) - The company defines materiality as individual amounts exceeding **0.5%** of total assets for prepayments, construction in progress, accounts payable, other payables, and provisions[194](index=194&type=chunk) - Financial assets are classified into three categories: measured at amortized cost, measured at fair value through other comprehensive income, and measured at fair value through profit or loss[203](index=203&type=chunk) - Fixed asset depreciation uses the straight-line method; buildings and structures have a depreciation period of **20-30 years**, mine structures use the production method or straight-line method, machinery and equipment **10 years**, transportation vehicles **3-4 years**, and electronic equipment and others **3-10 years**[251](index=251&type=chunk) - Intangible assets include land use rights, software, mining rights, and exploration rights; land use rights are amortized using the straight-line method over **50 years**, and mining rights are amortized using the production method based on proven mineral reserves[258](index=258&type=chunk) - Revenue recognition principle is to recognize revenue when the customer obtains control of the related goods or services, with main sales products being lead concentrate (including silver) and zinc concentrate[276](index=276&type=chunk)[280](index=280&type=chunk) [Taxation](index=96&type=section&id=Taxation) The company's main taxes include VAT, resource tax, property tax, urban maintenance and construction tax, education surcharge, local education surcharge, and corporate income tax. The company qualifies for Western Development policy, enjoying a **15%** corporate income tax preferential rate, while some subsidiaries meet small and micro-profit enterprise standards, enjoying a **20%** corporate income tax preferential rate 主要税种及税率 | Tax Type | Tax Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax (VAT) | Calculated on sales of goods and taxable services, deducting input VAT allowed for the current period | 13%, 9%, 6%, 3%, 1% | | Resource Tax | Sales amount of taxable products | 4%, 3% | | Property Tax | Calculated at **1.2%** of the original value of the property after a one-time deduction of **30%** | 1.2% | | Urban Maintenance and Construction Tax | Actual amount of turnover tax paid | 7%, 5% | | Education Surcharge | Actual amount of turnover tax paid | 3% | | Local Education Surcharge | Actual amount of turnover tax paid | 2% | | Corporate Income Tax | Taxable Income | 15%, 20%, 25% | - The company qualifies for the Western Development corporate income tax preferential policy, enjoying a **15%** corporate income tax rate[304](index=304&type=chunk) - Subsidiaries such as Tianshui Jinhui, Xingkai Hotel, Longjiang Mining, and Baoxin Mining meet the small and micro-profit enterprise preferential standards, enjoying a **20%** corporate income tax rate[305](index=305&type=chunk) [Notes to Consolidated Financial Statement Items](index=97&type=section&id=Notes%20to%20Consolidated%20Financial%20Statement%20Items) This section details the period-end and period-start balances and changes for all consolidated financial statement items, including assets, liabilities, equity, income, expenses, and cash flows, providing a comprehensive view of the company's financial position and performance 2025年上半年末货币资金情况 | Item | Period End Balance (Yuan) | Period Start Balance (Yuan) | | :--- | :--- | :--- | | Cash on Hand | 217,839.15 | 94,228.63 | | Bank Deposits | 514,479,344.94 | 560,876,004.81 | | Other Cash and Bank Balances | 72,636,200.00 | 2,636,200.00 | | Total | 587,333,384.09 | 563,606,433.44 | - At the end of the reporting period, the company had restricted cash and bank balances of **72,636,200.00 yuan**, all of which were letter of guarantee deposits[309](index=309&type=chunk) 2025年上半年末应收账款账龄及坏账准备情况 | Aging | Book Balance (Yuan) | Provision for Bad Debts (Yuan) | Provision Rate (%) | | :--- | :--- | :--- | :--- | | Within 1 year | 25,571,419.07 | 1,278,570.95 | 5.00 | | 1-2 years | 7,241.99 | 1,448.40 | 20.00 | | Total | 25,578,661.06 | 1,280,019.35 | | 2025年上半年末其他应收款账龄及坏账准备情况 | Aging | Period End Book Balance (Yuan) | Provision for Bad Debts (Yuan) | | :--- | :--- | :--- | | Within 1 year | 22,079,817.94 | 1,103,990.91 | | 1 to 2 years | 9,652,179.94 | 1,930,435.99 | | Over 3 years | 1,017,824.00 | 1,017,824.00 | | Total | 32,749,821.88 | 4,052,250.90 | 2025年上半年末存货分类 | Item | Book Value (Yuan) | | :--- | :--- | | Raw Materials | 22,999,737.52 | | Inventories | 5,474,801.95 | | Low-Value Consumables | 3,411,719.50 | | Total | 31,886,258.97 | 2025年上半年末固定资产账面价值 | Item | Period End Book Value (Yuan) | | :--- | :--- | | Buildings and Structures | 1,695,040,982.43 | | Mine Structures | 1,792,959,558.99 | | Machinery and Equipment | 220,865,765.60 | | Transportation Vehicles | 29,799,557.29 | | Electronic Equipment and Others | 46,395,194.65 | | Total | 3,785,061,058.96 | 2025年上半年末在建工程情况 | Item | Period End Balance (Yuan) | | :--- | :--- | | Jiangluo Mining Area Lead-Zinc Mine (1.5 million tons/year) Beneficiation Project - Xiejagou Beneficiation Plant | 536,374,969.15 | | Tunnel Engineering | 235,721,529.80 | | Huixian Xiejagou Lead-Zinc Mine Green Mine Upgrade Project | 173,193,342.26 | | Luoba, Dongpo Mining Area Construction Project | 62,245,953.47 | | Minor Projects | 56,278,856.75 | | Huixian Guojiagou Lead-Zinc Mine Green Mine Upgrade Project | 29,311,421.94 | | Jiangluo Mining Area Lead-Zinc Mine (1.5 million tons/year) Beneficiation Project - Minghao Beneficiation Plant | 6,529,050.86 | | Jiangkou Mining Area Construction Project | 4,612,196.21 | | Guojiagou Lead-Zinc Mine New Core Storage Project | 18,038,990.83 | | Minghao Mining Beneficiation Plant Expansion Project | 14,760,655.39 | | Total | 1,104,267,320.44 | 2025年上半年末无形资产账面价值 | Item | Period End Book Value (Yuan) | | :--- | :--- | | Land Use Rights | 112,032,792.21 | | Software | 2,073,747.28 | | Exploration Rights | 634,781,901.33 | | Mining Rights | 620,755,642.48 | | Total | 1,369,644,083.30 | 2025年上半年末商誉账面原值 | Name of Investee or Goodwill-Generating Event | Period End Balance (Yuan) | | :--- | :--- | | Tianshui Jinhui | 5,655,068.68 | | Xiejagou Mining | 32,100,802.83 | | Minghao Mining | 23,813,184.43 | | Hongtai Industrial | 34,113,950.16 | | Xiejagou Flotation Plant | 40,411,760.57 | | Longjiang Mining | 33,873,838.12 | | Total | 169,968,604.79 | 2025年上半年末短期借款分类 | Item | Period End Balance (Yuan) | | :--- | :--- | | Guaranteed Loans | 1,143,033,823.50 | | Guaranteed and Mortgaged Loans | 370,313,463.89 | | Total | 1,513,347,287.39 | 2025年上半年末长期借款分类 | Item | Period End Balance (Yuan) | | :--- | :--- | | Guaranteed and Mortgaged Loans | 985,714,750.00 | | Guaranteed and Pledged Loans | 521,572,027.78 | | Guaranteed Loans | 282,751,013.88 | | Mortgaged Loans | 54,205,256.99 | | Total | 1,844,243,048.65 | 2025年上半年营业收入和营业成本情况 | Item | Revenue (Yuan) | Cost (Yuan) | | :--- | :--- | :--- | | Main Business | 791,168,614.32 | 283,355,413.14 | | Other Business | 441,036.64 | 188,554.13 | | Total | 791,609,650.96 | 283,543,967.27 | 2025年上半年营业收入按商品类型分解 | Product Type | Operating Revenue (Yuan) | Operating Cost (Yuan) | | :--- | :--- | :--- | | Zinc Concentrate | 546,755,936.94 | 211,767,836.39 | | Lead Concentrate (including Silver) | 244,231,018.47 | 71,278,196.76 | | Other | 622,695.55 | 497,934.12 | | Total | 791,609,650.96 | 283,543,967.27 | 2025年上半年财务费用明细 | Item | Current Period Amount (Yuan) | | :--- | :--- | | Interest Expense | 65,343,886.27 | | Interest Income | -2,445,410.91 | | Exchange Gains/Losses | 6.76 | | Financial Institution Fees and Others | 852,155.85 | | Total | 63,750,637.97 | 2025年上半年其他收益明细 | Classified by Nature | Current Period Amount (Yuan) | | :--- | :--- | | Government Subsidies Related to Assets | 3,312,937.14 | | Government Subsidies Related to Income | 15,835,761.64 | | Refund of Withholding Individual Income Tax Handling Fees | 208,702.45 | | Total | 19,357,401.23 | 2025年上半年所得税费用表 | Item | Current Period Amount (Yuan) | | :--- | :--- | | Current Income Tax Expense | 39,811,978.41 | | Deferred Income Tax Expense | 1,944,828.65 | | Total | 41,756,807.06 | [R&D Expenses](index=161&type=section&id=R%26D%20Expenses) During the reporting period, total R&D expenses amounted to **22.97 million yuan**, all expensed, primarily consisting of direct input, salaries and benefits, and depreciation and amortization 2025年上半年研发支出按费用性质列示 | Item | Current Period Amount (Yuan) | | :--- | :--- | | Direct Input | 13,860,279.08 | | Salaries and Benefits | 6,798,898.69 | | Depreciation and Amortization | 2,299,684.64 | | Other | 8,350.00 | | Total | 22,967,212.41 | | Of which: Expensed R&D Expenses | 22,967,212.41 | [Changes in Consolidation Scope](index=162&type=section&id=Changes%20in%20Consolidation%20Scope) During the reporting period, the company acquired **49%** equity in Haosen Mining through a business combination under common control and established a new wholly-owned subsidiary, Jiate Mining, resulting in changes to the consolidation scope - On **January 9, 2025**, the company completed the industrial and commercial change registration for the acquisition of **49%** equity in Haosen Mining, constituting a business combination under common control[499](index=499&type=chunk) - The company acquired Haosen Mining with a cash consideration of **270 million yuan** as the merger cost[500](index=500&type=chunk) - The company invested its own funds to establish wholly-owned subsidiary Jiate Mining, with a registered capital of **20 million yuan**[503](index=503&type=chunk) [Interests in Other Entities](index=165&type=section&id=Interests%20in%20Other%20Entities) This section lists the company's interests in various subsidiaries, including subsidiary names, main operating locations, registered capital, business nature, and shareholding percentages, along with the acquisition methods 2025年上半年末子公司情况 | Subsidiary Name | Registered Capital (Yuan) | Business Nature | Shareholding Proportion (%) Direct | | :--- | :--- | :--- | :--- | | Tianshui Jinhui | 5,000,000.00 | Mineral Exploration and Mining | 100.00 | | Shaanxi Yatai | 80,000,000.00 | Mining Engineering | 100.00 | | Jinhui Trading | 50,000,000.00 | Trading | 100.00 | | Xingkai Hotel | 2,000,000.00 | Hotel Management | 100.00 | | Xiejagou Mining | 149,800,000.00 | Lead-Zinc Mining | 100.00 | | Minghao Mining | 210,000,000.00 | Mineral Beneficiation | 100.00 | | Hongtai Industrial | 6,800,000.00 | Mineral Beneficiation | 100.00 | | Xiejagou Flotation Plant | 363,000,000.00 | Mineral Beneficiation | 100.00 | | Longjiang Mining | 5,000,000.00 | Mineral Beneficiation | 100.00 | | Xiangyangshan Mining | 350,000,000.00 | Lead-Zinc Mining | 100.00 | | Baoxin Mining | 5,000,000.00 | Mineral Exploration and Mining | 100.00 | | Xicheng Mining | 100,000,000.00 | Mineral Resource Exploration, Smelting, Sales | 86.43 (Indirect) | | Haosen Mining | 20,000,000.00 | Mineral Resource Exploration, Smelting, Sales | 49.00 | | Ruiliang Shengkai | 10,000,000.00 | Sales of High-Performance Non-Ferrous Metals and Alloy Materials | 49.00 (Indirect) | | Jiate Mining | 20,000,000.00 | Mineral Resource Exploration, Smelting, Sales | 100.00 | [Government Grants](index=167&type=section&id=Government%20Grants) During the reporting period, the company recognized asset-related government grants of **3.31 million yuan** and income-related government grants of **15.84 million yuan**, totaling **19.15 million yuan** included in current profit or loss 2025年上半年政府补助负债项目 | Financial Statement Item | Period Start Balance (Yuan) | Included in Other Income This Period (Yuan) | Period End Balance (Yuan) | Asset/Income Related | | :--- | :--- | :--- | :--- | :--- | | Deferred Income | 74,713,331.69 | 3,312,937.14 | 71,400,394.55 | Asset Related | | Total | 74,713,331.69 | 3,312,937.14 | 71,400,394.55 | / | 2025年上半年计入当期损益的政府补助 | Type | Current Period Amount (Yuan) | | :--- | :--- | | Asset Related | 3,312,937.14 | | Income Related | 15,835,761.64 | | Total | 19,148,698.78 | [Financial Instrument Risks](index=167&type=section&id=Financial%20Instrument%20Risks) The company faces credit risk, liquidity risk, and market risk (interest rate risk and foreign exchange risk). These risks are managed by depositing cash and bank balances with highly-rated financial institutions, continuously assessing customer credit, utilizing diverse financing methods, and prudently managing floating-rate borrowings - The company's risk management objective is to balance risk and return, minimizing the negative impact of risks on operating performance[511](index=511&type=chunk) - Credit risk primarily arises from cash and bank balances and receivables, controlled by depositing funds with highly-rated financial institutions and continuously assessing customer credit[517](index=517&type=chunk)[518](index=518&type=chunk)[519](index=519&type=chunk) - Liquidity risk is managed by comprehensively utilizing various financing methods such as bill settlement and bank borrowings, combining long-term and short-term financing appropriately[521](index=521&type=chunk) 2025年上半年末金融负债按剩余到期日分类 | Item | Book Value (Yuan) | Undiscounted Contractual Amount (Yuan) | Within 1 year (Yuan) | 1-3 years (Yuan) | Over 3 years (Yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | | Short-Term Borrowings | 1,513,347,287.39 | 1,534,904,825.80 | 1,534,904,825.80 | 0 | 0 | | Accounts Payable | 112,933,729.02 | 112,933,729.02 | 112,933,729.02 | 0 | 0 | | Other Payables | 32,006,676.41 | 32,006,676.41 | 32,006,676.41 | 0 | 0 | | Non-Current Liabilities Due Within One Year | 449,506,285.88 | 454,575,753.96 | 454,575,753.96 | 0 | 0 | | Long-Term Borrowings | 1,844,243,048.65 | 2,057,349,007.36 | 84,622,349.99 | 1,595,719,075.43 | 377,007,581.94 | | Lease Liabilities | 2,845,392.78 | 2,940,514.15 | 0 | 2,811,211.15 | 129,303.00 | | Long-Term Payables | 55,967,249.24 | 60,000,000.00 | 0 | 40,000,000.00 | 20,000,000.00 | | Subtotal | 4,010,849,669.37 | 4,254,710,506.70 | 2,219,043,335.18 | 1,638,530,286.58 | 397,136,884.94 | - The company faces cash flow interest rate risk, primarily related to floating-rate bank borrowings. Assuming an interest rate change of **50 basis points**, there would be no significant impact on total profit and shareholder equity[526](index=526&type=chunk) - The company's main activities are denominated in RMB, and the market risk from foreign exchange fluctuations is not significant[527](index=527&type=chunk) [Related Parties and Related Party Transactions](index=173&type=section&id=Related%20Parties%20and%20Related%20Party%20Transactions) The company's controlling shareholder is Gansu Yate Investment Group Co., Ltd., and the actual controller is Mr. Li Ming. During the reporting period, the company engaged in multiple related party transactions involving goods sales/purchases, provision/receipt of services, related party guarantees, and asset transfers. Significant balances of receivables and payables to related parties existed at period end - The company's controlling shareholder is Gansu Yate Investment Group Co., Ltd., and the actual controller is Mr. Li Ming[531](index=531&type=chunk)[532](index=532&type=chunk) 2025年上半年采购商品/接受劳务关联交易 | Related Party | Transaction Content | Current Period Amount (Yuan) | | :--- | :--- | :--- | | Gansu Maoda Construction Engineering Co., Ltd. | Engineering Construction | 108,183,748.37 | | Gansu Jinyuxinda Construction Engineering Co., Ltd. | Engineering Construction | 20,706,709.60 | | Longnan Yate Training Center Co., Ltd. | Other Purchases | 103,728.97 | | Gansu Jinhui Modern Agriculture Development Co., Ltd. | Other Purchases | 9,774,987.43 | | Gansu Jinhui Xinke Material Co., Ltd. | Raw Material Purchases | 5,578,130.05 | | Total | | 146,282,546.04 | 2025年上半年出售商品/提供劳务关联交易 | Related Party | Transaction Content | Current Period Amount (Yuan) | | :--- | :--- | :--- | | Gansu Maoda Construction Engineering Co., Ltd. | Provision of Services | 132,230.00 | | Gansu Yate Investment Group Co., Ltd. | Provision of Services | 70,887.00 | | Gansu Jinhui Xinke Material Co., Ltd. | Provision of Emergency Rescue Services | 9,433.96 | | Total | | 212,550.96 | 2025年上半年被关联方担保情况 | Guarantor | Guaranteed Amount (Yuan) | Guarantee Start Date | Guarantee End Date | Guarantee Fulfilled | | :--- | :--- | :--- | :--- | :--- | | Yate Investment, Li Ming, Du Nan | 36,000,000.00 | 2022/9/26 | 2025/9/26 | No | | Yate Investment, Li Ming, Du Nan | 96,000,000.00 | 2024/2/29 | 2027/1/28 | No | | ... (Multiple Guarantees) | ... | ... | ... | ... | | Total | 3,518,918,267.96 | | | | - The company purchased equity in Gansu Yate Investment Group Co., Ltd. for **135 million yuan** this period[543](index=543&type=chunk) 2025年上半年末应收关联方款项 | Item Name | Related Party | Period End Book Balance (Yuan) | | :--- | :--- | :--- | | Other Receivables | Gansu Maoda Construction Engineering Co., Ltd. | 31,500.00 | | Other Non-Current Assets | Gansu Maoda Construction Engineering Co., Ltd. | 62,435,006.78 | | Subtotal | | 62,435,006.78 | 2025年上半年末应付关联方款项 | Item Name | Related Party | Period End Book Balance (Yuan) | | :--- | :--- | :--- | | Accounts Payable | Gansu Jinyuxinda Construction Engineering Co., Ltd. | 13,315,232.96 | | Accounts Payable | Gansu Maoda Construction Engineering Co., Ltd. | 9,981,941.44 | | Other Payables | Gansu Jinyuxinda Construction Engineering Co., Ltd. | 1,319,430.78 | | Other Payables | Gansu Maoda Construction Engineering Co., Ltd. | 1,135,823.62 | | Subtotal | | 30,117,533.48 | [Events After Balance Sheet Date](index=183&type=section&id=Events%20After%20Balance%20Sheet%20Date) On **August 15, 2025**, the company approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of **2.00 yuan** (tax inclusive) per 10 shares to all shareholders, totaling **195.6 million yuan** 2025年半年度利润分配情况 | Item | Amount (RMB) | | :--- | :--- | | Proposed Profit or Dividend Distribution | 195,600,000.00 | | Profit or Dividend Declared and Distributed After Approval | 195,600,000.00 | - This profit distribution does not involve bonus shares or capital reserve conversions[553](index=553&type=chunk) [Notes to Parent Company Financial Statement Main Items](index=185&type=section&id=Notes%20to%20Parent%20Company%20Financial%20Statement%20Main%20Items) This section details the period-end and period-start balances and changes for the parent company's main financial statement items, including accounts receivable, other receivables, long-term equity investments, operating revenue and costs, reflecting the parent company's financial position and operating results 2025年上半年末母公司应收账款账龄及坏账准备情况 | Aging | Book Balance (Yuan) | Provision for Bad Debts (Yuan) | Provision Rate (%) | | :--- | :--- | :--- | :--- | | Within 1 year | 25,570,219.07 | 1,278,510.95 | 5.00 | | Total | 25,570,219.07 | 1,278,510.95 | 5.00 | 2025年上半年末母公司其他应收款账龄及坏账准备情况 | Aging | Period End Book Balance (Yuan) | Provision for Bad Debts (Yuan) | | :--- | :--- | :--- | | Within 1 year | 923,715,736.11 | 916,680.49 | | 1 to 2 years | 846,089.44 | 3,998.15 | | 2 to 3 years | 611,964.43 | 0 | | Over 3 years | 14,803,719.66 | 948,824.00 | | Total | 939,977,509.64 | 1,869,502.64 | 2025年上半年末母公司对子公司投资情况 | Investee | Period End Balance (Book Valu

金徽股份同日披露半年报，上半年实现归母净利润2.53亿元，同比增长19.62%。公司拟每10股派发现金 红利2元(含税)。 人民财讯8月15日电，金徽股份（603132）8月15日晚间公告，为积极推动江洛矿区资源整合项目，公司 拟以现金3.8亿元，收购子公司豪森矿业剩余51%的股权。收购完成后，公司将持有豪森矿业100%的股 权。 ...

2024年1至12月份，金徽股份的营业收入构成为：铅锌有色金属占比99.86%，其他业务占比0.1%，其他 占比0.04%。 金徽股份（SH 603132，收盘价：13.68元）8月15日晚间发布公告称，公司第二届第十六次董事会会议 于2025年8月15日在公司会议室采用现场结合通讯的方式召开。会议审议了《关于 <金徽矿业股份有限 公司2025年半年度报告> 的议案》等文件。 （文章来源：每日经济新闻） ...

金徽股份公告，公司计划以现金3.8亿元收购子公司甘肃豪森矿业有限公司51%的股权。交易完成后， 公司将持有豪森矿业100%的股权。本次交易已经公司第二届董事会第十六次会议审议通过，无需提交 股东大会审议。豪森矿业目前处于探矿勘查阶段，未进行经营活动。此次交易旨在增强对豪森矿业的控 制力和独立决策权，便于后续进行持续投入和资源整合，提升其经营管理效率，实现可持续发展，符合 公司的长远规划和发展战略。交易对方承诺，标的公司2027年开始后的三年，每年净利润不低于1.02亿 元。 ...

证券代码：603132 证券简称：金徽股份 公告编号：2025-032 金徽矿业股份有限公司 关于控股股东部分股份解除质押及质押的公告 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： 截至本公告披露日，甘肃亚特投资集团有限公司（以下简称"亚特投 资"）持有公司股份 495,000,000 股，占公司总股本的 50.61%。本次部分股份解 除质押及质押后，亚特投资累计质押公司股份 403,600,000 股，占其持有公司股 份总数的 81.54%，占公司总股本的 41.27%。 亚特投资及其一致行动人中铭国际控股集团有限公司（以下简称"中铭 国际"）、徽县奥亚实业有限公司（以下简称"奥亚实业"）以及自然人股东李雄 先生合计持有公司股份 765,600,000 股，占公司总股本的 78.28%。本次股份解 除质押及质押办理完成后，亚特投资及一致行动人累计质押股份 599,600,000 股， 占亚特投资及一致行动人总股本的 78.32%，占公司总股本的 61.31%。 亚特投资将其持有公司 200,000,000 ...

证券代码：603132 证券简称：金徽股份 公告编号：2025-031 金徽矿业股份有限公司 关于证券事务代表辞职的公告 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。 金徽矿业股份有限公司（以下简称"公司"）董事会于近日收到证券事务代 表姚亚娟女士递交的书面辞职报告。姚亚娟女士因工作调整原因申请辞去证券 事务代表职务，辞职后将转任公司其他职务，其所负责的工作已妥善交接，其 辞职不会影响公司相关工作的开展，辞职报告自送达公司董事会之日起生效。 截止本公告披露日，姚亚娟女士未直接或间接持有公司股票，不存在应当 履行而未履行的承诺事项。姚亚娟女士在担任公司证券事务代表期间恪尽职守、 勤勉尽责，公司及董事会对其任职期间为公司发展所作出的贡献表示衷心感谢！ 公司董事会根据《上海证券交易所股票上市规则》等相关规定，将尽快聘 任符合任职资格的人员担任证券事务代表职务，协助公司董事会秘书开展工作。 特此公告。 金徽矿业股份有限公司董事会 2025 年 7 月 22 日 ...