公司名称：紫金矿业集团财务有限公司 法定代表人：吴红辉 藏格矿业股份有限公司 关于对紫金矿业集团财务有限公司的风险评估报告 藏格矿业股份有限公司（以下简称"本公司"）根据《关于规范上市公司与企业集团 财务公司业务往来的通知》《深圳证券交易所上市公司自律监管指引第7号——交易与关联 交易》的要求，查验并审阅了紫金矿业集团财务有限公司（以下简称"财务公司"）的《 营业执照》《金融许可证》等有关证件资料及财务资料，对其经营资质、业务和风险状况 进行了核实与评估，现将有关风险评估情况报告如下： 一、财务公司的基本情况 注册资本：100,314.60万元 统一社会信用代码：913508236943778565 金融许可证机构编码：L0102H335080001 住所：上杭县紫金大道1号紫金办公大楼14层。 财务公司经营范围：许可项目：非银行金融业务。（依法须经批准的项目，经相 关部门批准后方可开展经营活动，具体经营项目以相关部门批准文件或许可证件为准） 截至目前，财务公司股权结构如下： | 股东名称 | 认缴出资金额（万元） | 持股比例（%） | | --- | --- | --- | | 紫金矿业集团股份有限公司 ...

证券代码：000408 证券简称：藏格矿业 公告编号：2025-055 第十届董事会第三次（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"）第十届董事会第三次（临时） 会议采取通讯方式于2025年6月20日召开。经全体董事一致同意，本次会议通知 豁免时间要求，以电子邮件方式临时通知全体董事。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 司部分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》（以下简称《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 藏格矿业股份有限公司 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《关于增加公司 2025 年度日常关联交易预计的议案》 董事会认为，公司此次预计增加向关联方提供服务和接受关联方服务的关联 交易额度是公司正常经营和业务发展所需，有利于促进公司稳定持续发展，定价 合理、公允，不存在损害公司和全体股东利益、特别是中小 ...

藏格矿业股份有限公司 与紫金矿业集团财务有限公司开展金融业务风险处置预案 第一章 总则 第一条 为规范藏格矿业股份有限公司（以下简称"公司"）与紫金矿业集团财务 有限公司（以下简称"财务公司"）发生的金融业务，有效防范、及时控制和化解风险， 保证资金安全，根据《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交 易》的有关要求，特制定本风险处置预案（以下简称"预案"）。 第二章 风险处置组织机构及职责 第二条 公司成立风险预防处置领导小组（以下简称"领导小组"），由公司董事长 任组长，为风险预防处置第一责任人，由公司财务总监做副组长，领导小组成员包括公 司分管领导及计划财务部、合规法务部、监察审计室等部门负责人。 领导小组负责组织开展金融业务风险的防范和处置工作，领导小组下设工作组，工 作机构设在计划财务部，由计划财务部、合规法务部、监察审计室等相关人员组成，具 体负责财务公司日常监督与管理工作，并及时向领导小组反映情况，以便领导小组按本 预案防范和处置风险。 第三条 金融风险的应急处理应遵循以下原则： （一）统一领导，分级负责。金融风险的应急处理工作由领导小组统一领导，对董 事会负责，具体负责财务 ...

证券代码：000408 证券简称：藏格矿业 公告编号：2025-054 藏格矿业股份有限公司 关于公司及全资子公司申请 银行综合授信业务并提供担保的公告 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。 一、授信及担保情况概述 公司于 2025 年 6 月 20 日召开第十届董事会第三次（临时）会议，审议通过了 《关于公司及全资子公司申请银行综合授信业务并提供担保的议案》，为优化公司 资金结构，提高资金使用效率，合理利用境外低成本资金，同时为满足公司及全资 子公司生产经营和业务发展的资金需求，公司及全资子公司拟向银行等金融机构申 请不超过人民币 150 亿元或等值外币的综合授信额度，授信有效期自股东会审议通 过之日起 12 个月内有效，授信额度内可循环使用。授信业务包括但不限于办理长、 中、短期融资、开立商业汇票、信用证、保函、贸易融资、融资租赁、银团贷款及 法人账户透支等。公司董事会授权董事长吴健辉先生或其指定的授权代理人在上述 额度内与银行等金融机构签署银行综合授信业务相关的合同及法律文件，同意授权 管理层办理相关手续。 在本次申请的150亿元综合授信额度内 ...

Group 1: Market Conditions and Pricing - The company aims to control product costs through efficiency improvements despite fluctuating mineral prices influenced by supply and demand [2][3] - The current sales price of potassium chloride is stable at 2800-2900 RMB/ton, including transportation costs [7] - The 2025 annual import contract price for potassium fertilizer is set at 346 USD/ton CFR, reflecting a significant increase of 73 USD (27%) from last year's price of 273 USD/ton [8] Group 2: Production and Technology - The company plans to enhance efficiency by adopting new technologies and automation in production processes [2][3] - The comprehensive cost of producing one ton of potassium chloride in 2024 is 1,167.06 RMB/ton, maintaining a stable average over the past three years [5] - The company is focused on developing lithium hydroxide production lines, aiming for an annual capacity of 10,000 tons [5] Group 3: Strategic Partnerships and Investments - Zijin Mining's acquisition of a controlling stake in the company is expected to improve financing conditions and reduce borrowing costs [4] - The company is actively pursuing large investment projects, including the Mali Cuo lithium salt lake project and the Laos potassium fertilizer project [9] - The company holds a 30.78% stake in the Jilong Copper Mine and plans to maintain this investment while focusing on potassium and lithium resource development [8][9] Group 4: Market Demand and Future Outlook - Global potassium fertilizer consumption is projected to increase to 75 million tons in 2025, driven by rising food demand due to population growth [6] - The company is committed to becoming a leading supplier of potassium and lithium resources by 2027, leveraging Zijin Mining's advantages [7][9] - The company is monitoring the progress of the Jilong Copper Mine Phase II, expected to be completed by the end of 2025 [9]

Group 1: Nutaige Company - Nutaige focuses on lightweight applications in automotive suspension systems, steering systems, and three-electric systems, with continuous revenue growth since its listing in 2022 [1] - The company plans to increase R&D investment, enhance core technology, and accelerate the ramp-up time of new production lines to maintain business growth [1] - Nutaige is developing multiple new businesses, with high-performance materials for automotive chassis progressing quickly, expecting to complete sample development and delivery to customers in the second half of this year [1] - The company’s acquisition strategy focuses on upstream and downstream of the industry chain and related emerging businesses, assessing multiple dimensions to improve acquisition success rates [1] Group 2: Cangge Mining - Cangge Mining's lithium carbonate production process includes high recovery rates, with the third-generation adsorption workshop achieving over 80% and membrane workshop reaching 98% [2] - The company currently holds mining licenses for surface mining up to 20 meters deep and has not yet obtained licenses for deeper brine extraction [2] - Cangge Mining has trained over 100 technical personnel for rapid deployment in the Mali Mico project, utilizing aluminum-based adsorbents for their long lifespan and low cost [2] - The company has implemented cost-reduction measures through procurement cost reduction, scale effects, and increased recovery rates [2] Group 3: Investment Firm Overview - Juming Investment is a new private equity fund manager in China, focusing on "contrarian investment" and "growth investment" with a culture of simplicity and practicality [3] - The firm manages over 30 billion and has a core team from top public funds and asset management industries, with a strong academic background [3] - The firm has received multiple industry awards for its performance, including the Golden Bull Award and Yinghua Award, with significant absolute returns in recent years [3]

Group 1 - Rongtong Fund recently conducted research on a listed company, Cangge Mining (000408), focusing on lithium carbonate production processes and technology [1] - The lithium carbonate production process includes high recovery rates, with the adsorption workshop achieving over 80%, membrane workshop reaching 98%, and product workshop theoretically exceeding 99% [1] - Cangge Mining currently holds mining licenses for surface mining up to 20 meters deep and has not yet obtained licenses for deeper brine extraction [1] Group 2 - Rongtong Fund was established in 2001 and currently manages a total asset scale of 148.875 billion yuan, ranking 44th among 210 funds [2] - The fund's non-monetary public fund asset scale is 72.494 billion yuan, ranking 56th among 210 funds [2] - The best-performing public fund product in the past year is the Rongtong Zhongzheng Precision Medical Theme Index (LOF), with a recent net value of 1.48 and a growth of 60.11% over the past year [2]

Group 1: Production Process and Efficiency - The lithium carbonate production process achieves a recovery rate of over 80% in the adsorption workshop, 98% in the membrane workshop, and theoretically over 99% in the product workshop [3] - The cost of the adsorbent in the production of one ton of lithium carbonate is relatively small, with an annual replenishment of 100 to 200 cubic meters [3] - The company has trained over 100 technical personnel for the Mami Cuo project, ensuring they meet the required standards for their positions [3] Group 2: Financial Performance and Dividends - In 2024, Jilong Copper plans to distribute a dividend of 5 billion, with a payout ratio of 80%, significantly higher than in 2023 [4] - Jilong Copper has cumulatively distributed cash dividends of 6.5 billion to date, balancing loan repayments and cash dividends based on future cash flow [4] Group 3: Cost Management and Efficiency Improvements - Jilong Copper has implemented measures leading to a significant decrease in costs starting from Q2 2024, including procurement cost reductions through negotiations and scale effects [4] - The company aims to enhance copper recovery rates through technological upgrades, information technology improvements, and optimized reagent addition [4] Group 4: Sales and Transportation - Jilong Copper employs a "produce as sold" sales model, with products transported from Jiama Township to Lhasa by local transport teams, followed by logistics companies for further distribution [4]

Investment Rating - The report maintains a positive outlook on the potassium fertilizer industry, highlighting the importance of securing supply chains and agricultural stability [1][2][3]. Core Insights - The price for potassium fertilizer contracts in China for 2025 has been set at $346 per ton CFR, which is a crucial development for ensuring supply for the upcoming agricultural seasons [1]. - Global potassium chloride demand is projected to exceed 80 million tons by 2030, driven by population growth and increased food quality demands, with a compound annual growth rate (CAGR) of approximately 2.3%-3.2% from 2023 to 2030 [3]. - The geopolitical situation, particularly the ongoing Russia-Ukraine conflict, continues to create uncertainties in the global potassium supply chain, prompting China to focus more on the security of strategic resources like potassium [2]. Summary by Sections Potassium Fertilizer Contracts - In June 2025, a significant potassium fertilizer import contract was finalized between Chinese companies and a Dubai-based supplier, establishing a price of $346 per ton, which is essential for maintaining supply stability [1]. Global Demand Forecast - By 2030, global potassium chloride demand is expected to rise by 12-17 million tons compared to 2023 levels, with China being the largest market, anticipated to require 17.5-18.5 million tons in 2024 [3]. Strategic Resource Security - The report emphasizes the need for China to enhance its focus on the security of strategic resources like potassium due to ongoing geopolitical tensions affecting supply chains [2].

| | | | | | | （% | | （%） | 记合计 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 量 | | | | | （% | | （股） | （% | | | | | | | | | | | | | | | | | | ） | | 数量 | | | (股) | | | | ） | | | ） | | | | | | | | | | | | | | （股） | | | 藏格创 | | | | | | | | | | | | 业投资 | | | | | | | | | | | | 永鸿实 | | | | | | | | | | | | 业 | | | | | | | | | | | | 肖永明 | 100,685,746 | | 6.41 | 70,000,000 | 0 | 69.52 | | 4.46 | 0 | | | 0.00 | 0 | 0.00 | | | | | | | | | | 肖瑶 | 22,000 | | 0.00 | 0 | 0 | | 0.00 | 0 ...