Group 1 - The board of directors of Cangge Mining Co., Ltd. held its second temporary meeting of the tenth session on June 3, 2025, with all nine directors present, confirming the legality and validity of the meeting [1][2] - The board approved the proposal to establish the "Board Meeting Proposal Management Regulations," aimed at enhancing decision-making efficiency and governance standards [1][2] - The board also approved the "Important Business Matters Authority List," which clarifies approval processes and enhances decision-making efficiency and risk prevention capabilities [2]

证券代码：000408 证券简称：藏格矿业 公告编号：2025-049 一、董事会会议召开情况 藏格矿业股份有限公司（以下简称"公司"）第十届董事会第二次（临时） 会议通知及会议议案材料于2025年5月30日以邮件、电子通讯等方式送达第十届 董事会全体董事和列席人员。会议采取通讯方式于2025年6月3日召开。会议应到 董事9名，实到董事9名。会议由董事长吴健辉先生主持，全体董事均采取通讯方 式参加会议。公司高级管理人员线上列席了会议。本次会议召集召开符合《中华 人民共和国公司法》及《公司章程》的有关规定，会议合法、有效。 二、董事会会议审议情况 全体与会董事经认真审议和表决，形成以下决议： （一）审议通过了《关于制定〈董事会会议提案管理规定〉的议案》 董事会认为，公司根据法律法规等相关规定，制定《董事会会议提案管理规 定》，便于公司董事充分了解董事会提案内容及相关信息，加强决策的科学性， 有利于公司进一步规范董事会提案管理工作，提高公司治理水平和董事会决策效 率。具体内容详见公司同日在巨潮资讯网（http://www.cninfo.com.cn）披露的《董 事会会议提案管理规定》。 表决结果：同意 9 票，反 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [6]. Core Views - The company reported a net profit attributable to shareholders of 2.58 billion yuan for 2024, a year-on-year decrease of 24.56%. The net profit excluding non-recurring items was 2.547 billion yuan, down 28.76% year-on-year. In Q4 2024, the net profit attributable to shareholders was 712 million yuan, an increase of 57.76% year-on-year and 24.71% quarter-on-quarter [2][4]. Financial Performance Summary - In 2024, the company achieved total revenue of 32.51 billion yuan, with a gross profit of 14.60 billion yuan, representing a gross margin of 45% [14]. - The copper segment produced 166,300 tons with revenue of 12.838 billion yuan and a net profit of 6.263 billion yuan. The company holds a 30.78% stake in the copper business, yielding an investment income of 1.928 billion yuan, accounting for 75% of the net profit [9]. - The lithium segment generated revenue of 1.022 billion yuan, down 48% year-on-year, with a gross margin of 45.44%, a decrease of 35.07 percentage points. The net profit was 491 million yuan, with lithium production at 11,566 tons, a 4% decrease year-on-year [9]. - The potassium segment reported revenue of 2.21 billion yuan, down 31% year-on-year, with a net profit of 261 million yuan. The average selling price of potassium chloride was 2,115 yuan per ton, down 15% year-on-year [9]. Future Outlook - The company has set production and sales targets for 2025, aiming for potassium chloride production of 1 million tons and sales of 950,000 tons, as well as lithium carbonate production and sales of 11,000 tons each [9]. - The company is accelerating copper production expansion, with the second phase of the copper project expected to commence production by the end of 2025, significantly enhancing profitability [9]. - The company is also advancing lithium resource development, with expectations for faster progress in obtaining mining permits [9].

Group 1 - The announcement details the release of share pledges by the major shareholder, Tibet Cangge Investment Group Co., Ltd., indicating a positive development for the company [1][2] - The specific number of shares released from pledge is 40,000,000, which represents 2.55% of the total share capital [1] - As of the announcement date, the total pledged shares by the shareholder and its concerted parties amount to 262,287,430 shares, accounting for 82.97% of their holdings [2] Group 2 - The total number of shares held by the major shareholder is 316,109,015, which constitutes 20.13% of the company's total share capital [2] - The announcement confirms that the released shares do not include shares locked by executives, indicating a focus on shareholder liquidity [2]

证券代码：000408 证券简称：藏格矿业 公告编号：2025-048 藏格矿业股份有限公司 关于 5%以上股东部分股份解除质押的公告 一、 二、 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 藏格矿业股份有限公司（以下简称"公司"）近日接到股东西藏藏格创业投 资集团有限公司（以下简称"藏格创业投资"）函告，获悉其所持有公司的部分 股份办理了解除质押手续，具体事项如下： 一、股东股份解除质押的基本情况 | 股东 | 是否为控 | 本次解除 质押股份 | 占其 | 占公 | | | | 解除 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 股股东或 | | 所持 | 司总 | | | | | | | | | 第一大股 | | 股份 | 股本 | 质押起始日 | | | | | 质权人 | | 名称 | | 数量 | | | | | | 日期 | | | | | 东及其一 | （股） | 比例 | 比例 | | | | | | | | | 致行动人 | | ...

Summary of M&A Activity in Q1 2025 Core Insights - The M&A market in Q1 2025 saw a total of 534 transactions with a combined value of 2371.86 billion RMB, maintaining a steady volume compared to the same period last year [2][21] - The most active sectors for M&A transactions included traditional industries, smart manufacturing, and energy and power [23][25] Group 1: Transaction Volume and Value - In Q1 2025, there were 421 newly disclosed M&A transactions valued at 1040.28 billion RMB, with 173 completed transactions worth 1282.89 billion RMB [21][23] - Traditional industries led the transaction volume with 94 deals (17.60%), followed by smart manufacturing with 71 deals (13.30%) and energy and power with 48 deals (8.99%) [23][25] Group 2: Sector Analysis - The largest disclosed transaction value was in traditional industries, reaching 190.52 billion RMB, followed by cultural entertainment at 156.09 billion RMB and e-commerce at 119.67 billion RMB [4][25] - Within traditional industries, the most active sub-sectors included traditional manufacturing (35 deals), construction (15 deals), traditional energy (7 deals), and real estate and home furnishings (5 deals) [3][25] Group 3: Regional Distribution - M&A activity was predominantly concentrated in the eastern coastal regions of China, with Guangdong leading with 60 transactions, followed by Jiangsu (49 transactions) and Shanghai (43 transactions) [5][27] - In terms of transaction value, Guangdong also topped the list with 225.39 billion RMB, followed closely by Shanghai at 223.26 billion RMB and Jiangsu at 112.65 billion RMB [5][27] Group 4: Transaction Size and Company Age - The majority of transactions were small, with 70 deals (26.02%) valued at under 10 million RMB, followed by 36 deals in the 200 million to 500 million RMB range [6][29] - Companies established between 5 to 10 years accounted for 25.90% of the M&A targets, with 109 such companies involved [31] Group 5: Public Company Acquisitions - A total of 22 publicly listed companies were acquired in Q1 2025, indicating a shift in control for these firms [8][32] - Notable transactions included two "A and A" deals and one "A and H" deal, highlighting the ongoing consolidation in the market [8][32] Group 6: Acquisition Methods and Buyer Intentions - Agreement-based acquisitions remained the dominant method, accounting for 78.93% of transactions, followed by share issuance for asset purchases at 8.38% [10][34] - The primary motive for acquisitions was horizontal integration, representing 63.49% of the transactions, aimed at market expansion and long-term development [12][36] Group 7: Institutional Participation and Exits - Institutions participated in 58 acquisition transactions, primarily in sectors like healthcare, energy, and automotive [14][38] - Notable exits included 47 transactions involving institutional investors, with significant activity in energy and automotive sectors [16][40]

长江商报消息 ●长江商报记者 江楚雅 2025年一季度，藏格矿业实现归母净利润7.47亿元，同比增长41.18%；经营性现金流净流入1.04亿元， 同比增长143.80%。 藏格矿业（000408.SZ）收到巨额现金分红款。 15.39亿现金分红落袋 藏格矿业公告显示，公司已收到参股公司巨龙铜业的现金分红款，金额达15.39亿元。 公开资料显示，藏格矿业持有巨龙铜业30.78%股权，后者旗下拥有驱龙铜矿、知不拉铜矿及荣木错拉 铜矿，均位于西藏墨竹工卡县。此外，巨龙铜业在2024年新增备案铜资源量1472.6万吨，保有铜资源量 2561万吨，是国内备案铜资源量最多的矿山企业。 作为藏格矿业的重要业绩支柱，2021年至2023年期间，巨龙铜业营业收入和净利润均实现了翻倍式增 长。2024年，巨龙铜业生产铜精矿16.63万吨，为藏格矿业贡献投资收益19.28亿元，占其全年净利润比 重达74.72%。 此外，据藏格矿业在接受机构调研时透露，巨龙铜矿二期改扩建工程正全面推进，计划于2025年底建成 投产。项目达产后，其年采选矿石量将超1亿吨、年产铜30万—35万吨，成为国内采选规模最大、全球 本世纪投产的最大单体铜矿山 ...

截至05月23日10:17，化工ETF（159870.SZ）上涨0.53%，其关联指数细分化工（000813.CSI）上涨 0.57%；主要成分股中，万华化学上涨0.75%，盐湖股份上涨1.00%，光威复材上涨1.62%，藏格矿业上 涨0.96%，云天化上涨0.85%。 消息面上，5月23日化工板块表现活跃，苏州龙杰11天7板，汇得科技3连板，尤夫股份、永冠新材涨 停，联合化学、润阳科技涨超10%；生意社数据显示涤纶FDY价格较月初上涨8.92%至7424元/吨，原料 成本上行推动相关企业盈利预期改善，带动细分化工指数及成分股走强。 券商研究方面，兴业证券指出当前化工核心资产估值总体处于历史较低水平，安全边际显著，以细分化 工指数成分股为例，万华化学、华峰化学PB历史分位均低于1%，宝丰能源、华鲁恒升等企业分位也低 于20%，配置价值凸显；慧博智能投研则强调AI技术正推动化工行业研发范式与生产模式变革，龙头企 业通过智能配煤系统等技术应用提升效率并降低成本，如宝丰能源利用AI算法优化煤化工生产流程， 行业技术升级或进一步强化头部企业竞争优势。 关联产品： 化工ETF（159870），联接基金（A类 01494 ...

Group 1 - Tian Tie Technology signed a strategic cooperation framework agreement with Shenzhen Xinjie Energy to collaborate on solid-state battery lithium metal anode materials supply, research, and production [1] - Tian Tie Technology will supply battery-grade lithium metal products and is committed to an annual procurement volume of no less than 100 tons for a minimum of 5 years [1] - This partnership is expected to enhance the development of solid-state battery technology and solidify Tian Tie Technology's position in the lithium metal anode materials market [1] Group 2 - Cangge Mining received a cash dividend of 1.539 billion yuan from its associate company, Julong Copper, reflecting Julong Copper's strong operational performance and financial stability [2] - The cash dividend is anticipated to positively impact Cangge Mining's future operating performance and enhance its cash flow [2] - This financial gain will support Cangge Mining's further investments and development in the mining sector [2] Group 3 - Wanhua Chemical announced a scheduled maintenance shutdown for its 800,000 tons/year MDI, 360,000 tons/year TDI, and 400,000 tons/year PVC production facilities starting June 5, 2025, for approximately 45 days [3] - The maintenance is part of the annual routine and is not expected to have a significant impact on the company's overall production operations [3] - This maintenance reflects the company's commitment to equipment upkeep and safety, ensuring stable operations and product quality post-maintenance [3]

Group 1 - The core point of the article is that Cangge Mining received a cash dividend of 1.539 billion yuan from its associate company, Julong Copper, which is expected to positively impact the company's future operating performance [2][3] - Cangge Mining holds a 30.78% stake in Julong Copper, which has significant mineral resources including 25.61 million tons of copper and is undergoing expansion to increase copper production capacity [3] - The dividend is a result of Julong Copper's strong financial performance and will enhance Cangge Mining's cash flow and financial stability, supporting future development [3] Group 2 - On January 16, Cangge Mining announced a control transfer agreement with Zijin International Holdings, resulting in Zijin acquiring 24.98% of Cangge Mining's shares for a total of 13.729 billion yuan [4] - Following the completion of the acquisition on May 6, Zijin Mining now controls 26.18% of Cangge Mining, changing the controlling shareholder from Cangge Chuangtou to Zijin International Holdings [4] - Zijin Mining plans to enhance collaboration with Cangge Mining in resource, industry, and technology areas, aiming to unlock the economic potential of Cangge Mining's potassium and lithium resources [5]