证券代码：000408 证券简称：藏格矿业 公告编号：2024-059 藏格矿业股份有限公司 回购报告书 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 3、开立回购专用账户的情况 公司已在中国证券登记结算有限责任公司深圳分公司开立了回购专用证券 账户。 4、相关股东是否存在减持计划 截至本公告披露日，公司董事、监事、高级管理人员、控股股东、实际控制 人及其一致行动人、持股 5%以上股东暂无增减持公司股份计划，若前述主体未 1 来有增减持公司股份的计划，公司将按相关法律法规、规范性文件及时履行信息 披露义务。 5、风险提示 （1）本次回购股份存在回购期限内公司股票价格持续超出回购价格上限， 导致回购方案无法顺利实施或只能部分实施的风险； 1、回购方案的主要内容 藏格矿业股份有限公司（以下简称"公司"）使用自有资金以集中竞价交易 方式回购公司部分人民币普通股（A 股）股票（以下简称"本次股份回购"）用 于注销并减少注册资本。本次回购股份的资金规模为 1.5 亿元（含）—3 亿元（含）， 在回购股份价格不超过 35.90 元/股（含）的条件下，预计本 ...

Investment Rating - The report maintains a "Buy" rating for the company [6][12]. Core Views - The company's performance is under short-term pressure, but there is optimism regarding the future potential of the Jilong Copper Mine [6]. - The company's revenue and net profit are expected to decline in 2024, but a recovery is anticipated in subsequent years due to resource reserves and ongoing projects [6]. Financial Performance Summary - **Revenue (Million CNY)**: - 2022A: 8,194 - 2023A: 5,226 - 2024E: 3,324 - 2025E: 3,978 - 2026E: 4,907 - YoY Growth: 2023A: -36.2%, 2024E: -36.4%, 2025E: 19.7%, 2026E: 23.3% [6][8]. - **Net Profit (Million CNY)**: - 2022A: 5,655 - 2023A: 3,420 - 2024E: 2,506 - 2025E: 2,935 - 2026E: 4,144 - YoY Growth: 2023A: -39.5%, 2024E: -26.7%, 2025E: 17.1%, 2026E: 41.2% [6][8]. - **EPS (CNY)**: - 2022A: 3.58 - 2023A: 2.16 - 2024E: 1.59 - 2025E: 1.86 - 2026E: 2.62 [6][8]. Product Performance Summary - The company's main products, potassium chloride and lithium carbonate, saw significant revenue declines in 1H24, with year-over-year decreases of 32.70% and 43.39%, respectively [2]. - The average selling price of potassium chloride decreased by 26.52% to 2,265.41 CNY/ton, while lithium carbonate's price dropped by 63.90% to 93,892.80 CNY/ton [2]. Project Development Summary - The Jilong Copper Mine is expected to significantly increase its production capacity, with plans to expand from 150,000 tons/day to 350,000 tons/day, potentially making it the largest copper mine globally [6]. - The company has a rich reserve of resources and is progressing with various projects, including the Xizang Mami Cuo project and the Laos potassium salt mine project [5][6].

证券代码：000408 证券简称：藏格矿业 公告编号：2024-056 藏格矿业股份有限公司 第九届董事会第十五次（临时）会议决议公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 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"）第九届董事会第十五次（临时） 会议通知及会议议案资料于2024年8月19日以邮件、电子通讯等方式送达第九届 董事会全体董事和列席人员。会议采取现场结合通讯方式于2024年8月23日在成 都市高新区天府大道北段1199号2栋19楼会议室召开。会议应到董事9名，实到董 事9名。会议由副董事长肖瑶先生主持，董事长肖宁先生、副董事长肖瑶先生、 董事钱正先生、方丽女士、朱建红女士、张萍女士及独立董事王作全先生、胡山 鹰先生采取通讯方式参加会议。公司全体监事、高级管理人员列席了会议。本次 会议召集召开符合《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《关于调整公司 2024 年度生产经营计划的议案》 特此公告。 表决结果：同意 9 票，反 ...

证券代码：000408 证券简称：藏格矿业 公告编号：2024-055 藏格矿业股份有限公司 | 8 | 广发证券股份有限公司 | 14,156,583 | 0.90% | | --- | --- | --- | --- | | 9 | 申万宏源证券有限公司 | 13,151,629 | 0.83% | | 10 | 浙江浙期实业有限公司 | 12,500,000 | 0.79% | 注：以上股东的持股数量为合并普通账户和融资融券信用账户后的持股数量。 二、前十名无限售条件的股东持股情况 关于回购股份事项前十名股东 和前十名无限售条件股东持股情况的公告 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"）于 2024 年 8 月 9 日召开第九届 董事会第十四次会议，审议通过了《关于回购公司股份方案的议案》，公司拟以 1. 5 亿元（含）—3 亿元（含）、回购价格不超过 35.90 元/股回购公司部分股份用于 注销以减少公司注册资本。具体内容详见公司于 2024 年 8 月 10 日在巨潮资讯网 （http://www.cn ...

证券代码：000408 证券简称：藏格矿业 公告编号：2024-054 藏格矿业股份有限公司 关于召开2024年第一次临时股东大会的提示性公告 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"）第九届董事会第十四次会议决 定于 2024 年 8 月 26 日（星期一）在成都市高新区天府大道北段 1199 号 2 栋 19 楼会议室以现场与网络表决相结合的方式召开 2024 年第一次临时股东大会，具 体内容详见公司于 2024 年 8 月 10 日在巨潮资讯网（http://www.cninfo.com.cn） 披露的《关于召开 2024 年第一次临时股东大会的通知》（公告编号：2024-047）。 为维护广大投资者的合法权益，方便公司各位股东行使股东大会表决权，现将公 司召开 2024 年第一次临时股东大会的有关事项提示如下： 一、召开会议的基本情况 1、会议届次：2024 年第一次临时股东大会。 2、会议召集人：公司第九届董事会。 3、会议召开的合法、合规性：公司第九届董事会第十四次会议审议通过了 《关于召开公司 202 ...

Investment Rating - The report assigns an "Accumulate" rating for the company, marking the first coverage [3]. Core Insights - The company's revenue and profit showed significant improvement in Q2 2024, with a Q2 revenue of 1.15 billion yuan, a year-on-year decline of 19.4% but a quarter-on-quarter increase of 86.8% [2]. - The company achieved a net profit of 770 million yuan in Q2 2024, down 30.6% year-on-year but up 45.1% quarter-on-quarter [2]. - The report highlights the recovery in potassium chloride sales and substantial growth in investment income from the copper mining sector [2][3]. Financial Performance Summary - For H1 2024, the company reported total revenue of 1.762 billion yuan, a year-on-year decrease of 37.0%, and a net profit of 1.297 billion yuan, down 36.0% year-on-year [2]. - The average price of potassium chloride was 2,265.4 yuan/ton, reflecting a 26.5% year-on-year decline, while sales volume for potassium chloride reached 540,000 tons, down 8.4% year-on-year [2]. - The company’s investment income from Jilong Copper Industry reached 860 million yuan in H1 2024, marking a 46.1% year-on-year increase [2]. Project Development Summary - The Mali Mico Salt Lake project is progressing with the completion of site selection and preliminary land leveling [3]. - The Laos project has received government approval for its exploration report, estimating a total potassium salt resource of 6.285 billion tons, including 970 million tons of potassium chloride [3]. - The company is advancing the acquisition of a 34% stake in Tibet Zangqing Fund, with the second payment completed as per the agreement [3]. Earnings Forecast - Projected revenues for 2024, 2025, and 2026 are 3.47 billion yuan, 3.69 billion yuan, and 4.34 billion yuan, respectively [6]. - Expected net profits for the same years are 2.59 billion yuan, 2.87 billion yuan, and 3.99 billion yuan, with corresponding EPS of 1.64 yuan, 1.82 yuan, and 2.52 yuan [6].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's H1 2024 performance met expectations, with revenue of 1.76 billion yuan, a decrease of 37% year-on-year, and a net profit attributable to shareholders of 1.3 billion yuan, down 36% year-on-year [3] - The company maintains a significant cost advantage in lithium production, with H1 2024 lithium carbonate production reaching 5,809 tons, completing 55% of the annual target, and sales of 7,630 tons, completing 73% of the annual target [3] - Copper price increases have led to substantial investment returns, with the company's associate, Jilong Copper, producing 81,000 tons of copper in H1 2024, generating revenue of 6.1 billion yuan and a net profit of 2.8 billion yuan [4] - The company has announced a mid-term cash dividend of 4.08 billion yuan, continuing its trend of mid-term dividends for three consecutive years, and a share buyback plan of 150-300 million yuan [4] Financial Performance Summary - H1 2024 revenue was 1.76 billion yuan, down 37% year-on-year, with Q2 revenue at 1.15 billion yuan, down 19% year-on-year but up 87% quarter-on-quarter [3] - H1 2024 net profit attributable to shareholders was 1.3 billion yuan, down 36% year-on-year, with Q2 net profit at 770 million yuan, down 31% year-on-year but up 45% quarter-on-quarter [3] - The average selling price of lithium carbonate in H1 2024 was 94,000 yuan/ton, down 64% year-on-year, while the average sales cost was 41,300 yuan/ton, down 0.4% [3] - The company expects net profits for 2024-2026 to be 2.27 billion, 2.49 billion, and 3.41 billion yuan respectively, reflecting a year-on-year change of -34%, +10%, and +37% [4]

Investment Rating - The investment rating for the company is "Buy (Maintain)" [2] Core Views - The company's profitability is under pressure due to declining prices of potassium and lithium, while investment returns from copper mining are increasing [2] - The company reported a significant decrease in revenue and net profit for the first half of 2024, with revenue at 1.762 billion yuan, down 37% year-on-year, and net profit at 1.297 billion yuan, down 35.99% year-on-year [2][4] - Despite the current challenges, the company is expected to see long-term growth due to its cost advantages in lithium extraction and the expansion of copper production [4] Summary by Sections Production and Sales - Potassium chloride production for the first half of 2024 was 522,800 tons, a year-on-year increase of 1.47%, while sales were 540,100 tons, down 8.41% year-on-year [2] - Lithium carbonate production was 5,809 tons, up 28.89% year-on-year, and sales were 7,630 tons, up 56.83% year-on-year [2] Financial Performance - The average selling price of potassium chloride (including tax) was 2,265.41 yuan/ton, down 26.52% year-on-year, while the average cost of sales was 1,075.01 yuan/ton, up 6.27% year-on-year [2] - The company’s revenue from potassium chloride was 1.122 billion yuan, down 32.70% year-on-year, with a gross margin of 48.28%, down 15.95 percentage points [2] Future Outlook - Revenue projections for 2024-2026 are 3.515 billion yuan, 3.950 billion yuan, and 4.980 billion yuan respectively, with net profits of 2.705 billion yuan, 2.937 billion yuan, and 3.467 billion yuan [4] - The company is expected to benefit from the expansion of the Jilong copper mine, which is projected to significantly increase copper production [3][4] Project Developments - The company is advancing the construction of the Marmicuo salt lake project and the potassium salt project in Laos, with significant resources identified [3]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for the next 6-12 months [3][5]. Core Insights - The company's revenue for the first half of 2024 was CNY 1.762 billion, a decrease of 37.0% year-on-year, while the net profit attributable to shareholders was CNY 1.297 billion, down 36.0% year-on-year [2]. - The decline in revenue and profit is attributed to falling prices of potassium chloride and lithium carbonate, which saw average selling price drops of 26.5% and 63.9% respectively [2]. - Despite the challenges in the potassium and lithium sectors, the investment income from the company's stake in Jilong Copper Industry increased significantly, with a net profit of CNY 2.778 billion, up 46.1% year-on-year [2][3]. - The company is actively expanding its potassium and lithium resource base, with significant resources identified in Laos and ongoing developments in Tibet [2]. Summary by Sections Financial Performance - In Q2 2024, the company achieved revenue of CNY 1.147 billion, a year-on-year decrease of 19.4% but a quarter-on-quarter increase of 86.7% [2]. - The gross margin for H1 2024 decreased by 22.1 percentage points to 49.1% due to lower prices of key products [2]. Resource Development - The company has confirmed a total potassium chloride resource of 970 million tons in Laos, with over 79% classified as proven and controlled [2]. - The lithium resource project in the Mami Cuo salt lake is progressing, with infrastructure development underway [2]. Profit Forecast - The report projects net profits for the company to be CNY 2.515 billion, CNY 3.028 billion, and CNY 4.369 billion for 2024, 2025, and 2026 respectively [3].

关于回购股份事项前十名股东 和前十名无限售条件股东持股情况的公告 证券代码：000408 证券简称：藏格矿业 公告编号：2024-053 藏格矿业股份有限公司 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。 注：以上股东的持股数量为合并普通账户和融资融券信用账户后的持股数量。 二、前十名无限售条件的股东持股情况 | 序号 | 股东名称 | 持股数量（股） | 占总股本的比例 | | --- | --- | --- | --- | | 1 | 西藏藏格创业投资集团有限公司 | 361,588,493 | 22.88% | | 2 | 宁波梅山保税港区新沙鸿运投资管理有限 | 271,921,719 | 17.21% | | | 公司 | | | | 3 | 肖永明 | 155,643,647 | 9.85% | | 4 | 四川省永鸿实业有限公司 | 72,042,679 | 4.56% | | 5 | 香港中央结算有限公司 | 24,589,772 | 1.56% | | 6 | 浙江弘悦私募基金管理有限公司－弘悦晟 | 18,602,258 | 1.18% ...