Summary of Jinshi Resources Conference Call Company Overview - **Company**: Jinshi Resources - **Industry**: Fluorspar Mining and Processing Key Points Operational Performance - The Baotou project is performing well, producing 390,000 tons of fluorspar in the first half of the year, with costs controlled under 800 RMB/ton, and an annual production target of 700,000 tons is expected to be met [2][3] - The Incubation Hall project saw a year-on-year production increase, with unit costs decreasing and gross margin improving [2] - The Snowflake Integrated project generated a net profit of 115 million RMB in the first half, a 94% increase year-on-year, becoming a significant profit driver for the company [2][4] - The Xiangzheng mining area faced losses due to technical upgrades, leading to external ore procurement [5] Financial Performance - The company reported a loss of 17 million RMB in the Xiangzheng mining area, down from a profit of over 20 million RMB in the same period last year [5] - The Mongolian mining project is not yet profitable, with a loss of 17 million RMB in the first half, primarily due to foreign exchange losses and labor costs [6] - The Jiangshan and Jiangxi projects incurred losses of 27 million RMB, with hopes for inventory sales to provide returns [6] Market Trends - Fluorspar prices stabilized and began to rise in August, with expectations for further increases in September due to the traditional peak season [7] - The development of phosphorite fluorine extraction technology may impact traditional fluorspar demand, but Jinshi Resources plans to optimize product structure and enhance value-added offerings to mitigate this risk [8][9] Cost and Production Insights - The cost data for five-water hydrofluoric acid is sensitive and not disclosed in detail, but profitability has been achieved this year, with significant cost reductions noted in July [10] - The production cost for fluorspar is currently between 700 and 800 RMB, with expectations for future cost reductions depending on tailings grade changes [11] - The gross margin for hydrofluoric acid is approximately 11%, with potential for improvement through refined management and in-house production of sulfuric acid to reduce raw material costs [12] Future Outlook - The company anticipates that the Xiangzheng technical upgrades and expansion will be completed by Q4, potentially doubling production capacity [18][19] - The Mongolian processing plant is expected to be operational by the end of October, with projections for production of around 100,000 tons of concentrate next year [22] - The silver jewelry market is currently weak, but a rebound in demand is expected as the peak season begins in September [23] Additional Considerations - The company is exploring other mineral types and business directions, although no concrete plans have been announced yet [21] - The current product pricing is not yet at breakeven, requiring prices to reach approximately 2,500 RMB/ton for a secure margin [17]

证券日报网讯 8月20日晚间，金石资源发布公告称，2025年半年度公司实现营业收入1，725，558， 958.22元，同比增长54.24%；归属于上市公司股东的净利润为126，144，898.28元，同比下降24.74%。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 8月20日晚间，金石资源发布公告称，公司第五届董事会第六次会议审议通过了《关于公 司2025年半年度报告及其摘要的议案》等多项议案。 ...

Group 1 - The company reported a revenue of 1.726 billion yuan for the first half of the year, representing a year-on-year increase of 54.24% [1] - The net profit attributable to shareholders of the listed company was 126 million yuan, showing a year-on-year decrease of 24.74% [1] - The basic earnings per share were 0.15 yuan [1]

Core Insights - The company reported a significant increase in revenue, achieving 1.73 billion yuan in the first half of 2025, representing a 54.24% year-on-year growth [1][2] - However, the net profit attributable to shareholders decreased by 24.74% to 126.14 million yuan, indicating challenges in profitability despite revenue growth [2] Financial Performance - Revenue for the reporting period was 1,725,558,958.22 yuan, compared to 1,118,774,778.57 yuan in the same period last year, marking a 54.24% increase [1] - Total profit for the period was 186,822,642.86 yuan, down 8.25% from 203,616,686.50 yuan year-on-year [1] - Net profit attributable to shareholders was 126,144,898.28 yuan, a decrease of 24.74% from 167,603,516.84 yuan in the previous year [1] - The net profit after deducting non-recurring gains and losses was 128,378,922.52 yuan, down 24.04% from 169,002,085.09 yuan [1] - The net cash flow from operating activities was 278,592,836.41 yuan, slightly down by 0.76% from 280,716,354.86 yuan [1] Asset and Equity Position - As of the end of the reporting period, net assets attributable to shareholders were 1,692,734,398.46 yuan, an increase of 6.09% from 1,595,635,909.78 yuan at the end of the previous year [1] - Total assets reached 7,001,856,691.22 yuan, reflecting a 5.24% increase from 6,653,440,850.44 yuan at the end of the last year [1] Production and Operational Highlights - The company produced 18.59 million tons of various fluorite products from its domestic single fluorite mine during the reporting period [2] - The Baotou "selection and processing integration" project produced 390,000 tons of fluorite powder, while the Jin Ebo fluorochemical company produced 103,000 tons of anhydrous hydrofluoric acid [2] - The Mongolian project processed approximately 200,000 tons of raw ore, producing nearly 40,000 tons of fluorite block ore with a grade of 40%-45% [2] - The subsidiary Jinshi Intelligent Manufacturing signed sales contracts for loading vehicles amounting to over 10 million yuan [2] - Significant technological advancements were made in Hunan Jinshi Intelligent Manufacturing, with three projects recognized as "internationally leading" or "internationally advanced" [2]

Core Viewpoint - Jinshi Resources reported a significant increase in revenue for the first half of 2025, but a decline in net profit and earnings per share compared to the previous year [2] Financial Performance - The company achieved approximately 1.726 billion yuan in revenue, representing a year-on-year increase of 54.24% [2] - The net profit attributable to shareholders was around 126 million yuan, which is a year-on-year decrease of 24.74% [2] - Basic earnings per share were 0.15 yuan, down 25% compared to the same period last year [2]

Core Viewpoint - Jinshi Resources announced the results of its sixth board meeting for the fifth session, which took place on August 20, 2025, discussing the half-year report for 2025 [2] Group 1: Company Performance - For the first half of 2025, Jinshi Resources reported a revenue composition where the fluorochemical industry accounted for 61.34%, the resource industry for 38.34%, and other industries for 0.32% [2]

金石资源集团股份有限公司 重大信息内部报告制度 金石资源集团股份有限公司 重大信息内部报告制度 （2025 年 8 月修订） 第一章 总则 第一条 为规范金石资源集团股份有限公司（以下简称"公司"或"本公司"） 重大信息内部报告工作，保证公司内部重大信息的快速传递、归集和有效管理， 及时、准确、全面、完整地披露信息，维护投资者的合法权益，根据《中华人民 共和国公司法》、《中华人民共和国证券法》、《上市公司信息披露管理办法》、 《上海证券交易所股票上市规则》、《上海证券交易所上市公司自律监管指引第 2号——信息披露事务管理》、《金石资源集团股份有限公司章程》（以下简称 "《公司章程》"）和其他有关规定，制订本制度。 第二条 公司重大信息内部报告制度是指当出现、发生或即将发生可能对公 司证券及其衍生品种交易价格产生重大影响的情形或事件时，按照本制度规定的 报告义务人，应当在第一时间将相关信息向董事长和董事会秘书进行报告的制度。 第三条 本制度所称"内部信息报告义务人"包括： （一） 公司董事、高级管理人员、各部门（含各分公司、各子公司）的主 要负责人或指定联络人。 （二） 持有公司 5%以上股份的股东及其一致行动 ...

金石资源集团股份有限公司 年报重大差错责任追究制度 年报重大差错责任追究制度 （2025 年 8 月修订） 第一章 总则 第一条 为提高金石资源集团股份有限公司（以下简称"公司"）的规范运 作水平，增强信息披露的真实性、准确性、完整性和及时性，提高年报信息披露 的质量和透明度，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上海证券交易所股 票上市规则》（以下简称"《上市规则》"）、《上市公司信息披露管理办法》 及其他相关法律、法规的规定，以及《金石资源集团股份有限公司章程》（以下 简称"《公司章程》"）等公司治理制度的规定，结合公司的实际情况，制定本 制度。 第三条 本制度所称公司年报信息披露义务人包括： 金石资源集团股份有限公司 第二条 本制度所指责任追究制度是指年报信息披露义务人不履行或不正确 履行职责、义务或由于其他个人原因，给公司造成重大经济损失或不良社会影响 时的追究与处理制度。 (一) 公司董事、高级管理人员，以及公司内部负责提供年报数据的财务 部、证券事务部等职能部门负责人、直接经办人员、各子公司的负责人； (二) 持有公司 5% ...

金石资源集团股份有限公司 总经理工作细则 金石资源集团股份有限公司 总经理工作细则 （2025 年 8 月修订） 第一章 总则 第一条 为适应现代企业制度的要求，促进公司经营管理的制度化、规范化、科 学化，确保公司重大经营决策的正确性、合理性，根据《中华人民共和国公司法》（以 下简称"《公司法》"）等法律法规和《金石资源集团股份有限公司章程》（以下简 称"《公司章程》"）等规定，特制定总经理工作细则。 第二条 总经理是董事会领导下的公司日常经营管理的负责人。总经理对董事会 负责，执行董事会决议，主持公司的日常生产经营和管理工作。 第二章 总经理的聘任 第三条 公司总经理由董事长提名，董事会聘任。总经理经营班子成员由总经理 提名，董事会聘任。公司董事可受聘兼任总经理、副总经理及经营班子其他成员，但 兼任其他高级管理职务的董事以及职工代表董事的总数不得超公司董事会成员的二 分之一。 第四条 公司设总经理一人，并根据需要设副总经理若干。 公司总经理、副总经理、总工程师、总地质师、财务总监、运营总监构成公司总 经理经营班子。总经理经营班子是公司日常经营管理的指挥和运作中心。 第五条 总经理、副总经理、总工程师、总地质 ...