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 ...

证券代码：000408 证券简称：藏格矿业 公告编号：2025-051 藏格矿业股份有限公司 关于持股 5%以上股东及其 一致行动人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"）近日接到持股 5%以上股东西 藏藏格创业投资集团有限公司（以下简称"藏格创业投资"）及其一致行动人四 川省永鸿实业有限公司（以下简称"永鸿实业"）、肖永明先生函告，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 | | 是否为控股 | 本次解除质押 | 占其所持 | 占公司 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股东或第一 | 股份数量 | 股份比例 | 总股本 | | 质押起始 | | 解除日 | | 质权人 | | 名称 | 大股东及其 | | | 比例 | | 日 | | 期 | | | | | 一致行动人 | （股） ...

本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站（ht tps://rs.p5w.net/），或关注微信公众号：全景财经，或下载全景路演 APP，参与本 次互动交流，活动时间为 2025 年 6 月 18 日（周三）15:00-17:00。届时公司高管 将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、融资计划、股 权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大 投资者踊跃参与! 藏格矿业股份有限公司 关于参加青海辖区上市公司2025年 投资者网上集体接待日暨2024年度业绩说明会的公告 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。 为进一步加强与投资者的互动交流，藏格矿业股份有限公司（以下简称"公 司"）将参加由青海证监局、青海证券业协会与深圳市全景网络有限公司联合举 办的"青海辖区上市公司2025年投资者网上集体接待日暨2024年度业绩说明会", 现将相关事项公告如下： 证券代码：000408 证券简称：藏格矿业 公告编号：2025-050 特此公告。 藏格矿业股份有限公司董事会 2025 年 6 月 1 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [1] Core Viewpoints - The 2025 Indian potash fertilizer contract price has been set at $349 per ton, which is expected to boost the potash fertilizer market [4][20] - The domestic potassium chloride market is experiencing limited supply and tight circulation, with domestic potassium chloride production reduced and inventory at low levels [21][22] Summary by Sections Industry Trends - The chemical industry index outperformed the CSI 300 index by 1.73% this week [15] - The CCPI (China Chemical Product Price Index) reported 4033 points, down 1.08% from last week [17] Key Product Tracking - The price difference for polyester filament POY has expanded, while the price of chlorantraniliprole 97% continues to rise [29] - The domestic potassium chloride market is characterized by limited supply and cautious purchasing behavior from downstream buyers [21][22] Recommended and Beneficiary Stocks - Recommended stocks include Salt Lake Co., and Yaqi International; beneficiary stocks include Cangge Mining and Dongfang Iron Tower [27] - Other recommended stocks span various sectors including chemical leaders and fluorine chemicals [5]

Group 1 - The core viewpoint of the report indicates that the 2025 Indian potash contract price has been set at $349 per ton, which may boost the potash market's prosperity [2] - The transaction between Belarus and India's IPL involves a shipment of 650,000 tons, with the price being $70 per ton higher than the 2024 Indian contract price and $76 per ton higher than the 2024 Chinese import contract price [2] - Domestic potash prices are currently tight, with 60% potash self-delivery prices ranging from 2800 to 2830 RMB per ton, and market prices for 57% powder around 2400 to 2450 RMB per ton [2] Group 2 - The supply side shows limited circulation of potash due to reduced domestic production and low inventory levels, with port inventories at 2.062 million tons as of May 30 [2] - Demand for potash is currently weak, with cautious replenishment from buyers, but the low domestic inventory and the new Indian contract price may stimulate market activity [2] - Recommended stocks include Salt Lake Co. and Yara International, while benefiting stocks include Zangge Mining and Oriental Tower [2] Group 3 - A significant development in the nylon industry was reported, with the launch of a 100,000 tons/year acetonitrile facility by China Pingmei Shenma Group, marking a breakthrough in the production of key raw materials for nylon 66 [3] - The establishment of this facility is expected to reshape the nylon industry landscape in China [3] Group 4 - Recommended stocks in the chemical sector include Wanhu Chemical, Hualu Hengsheng, Hengli Petrochemical, and others, while benefiting stocks span various sectors including fluorine chemicals and new materials [4][5]

藏格矿业股份有限公司 董事会会议提案管理规定 第一章 总则 第一条 为规范藏格矿业股份有限公司董事会提案管理，便于公司董事更充 分了解董事会提案内容及相关信息，完善公司内控机制，加强决策的科学性，并 保证及时、完整地履行信息披露义务，根据《中华人民共和国公司法》《深圳证 券交易所股票上市规则》 《公司章程》 《董事会议事规则》及《信息披露事务管理 制度》等文件，制定本规定。 第二条 本规定适用于所有以提案名义向公司董事会提交报告，并提请董事 会审议决策的行为。 本规定所述的提案,是指由董事或者其他有权提议人提交的，由董事会审议 批准后执行的事项。 第三条 原则上，提交董事会的提案必须内容充分完整、论证明确、形式规 范，董事审议时应要求相关工作人员提供详细资料、做出详细说明，谨慎考虑相 关事项的下列因素： （一）损益和风险； 第四条 本规定所称公司，是指藏格矿业股份有限公司； 本规定所称权属企业，是指公司在境内外直接或间接投资的全资、控股、参 股企业。 第五条 本规定所述提案包括以下几类： 第六条 董事会提案管理实行分层对口审核制度： （一）公司董事、董事会专门委员会、总裁及其他具有提案权限的单位或个 人可以直 ...

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]