关于股份回购进展情况的公告 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。 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，2024 年 8 月 26 日召开 2024 年第一次临时股东大会，审议 通过了《关于回购公司股份方案的议案》，公司以 1.5 亿元（含）—3 亿元（含） 自有资金、以回购价格不超过 35.90 元/股（含）回购公司股份用于注销并减少注 册资本。本次回购股份的实施期限为自股东大会审议通过本次回购股份方案之日 起 12 个月内。公司因实施 2024 年半年度权益分派，回购价格由不超过 35.90 元/ 股（含）调整为不超过 35.64 元/股（含）。具体内容详见公司在巨潮资讯网（http: //www.cninfo.com.cn）披露的《关于回购公司股份方案的公告》（公告编号：2024 -050）、《回购报告书》（公告编号：2024-059）、《关于 2024 年半年度权益分派实 施后调整回购股份价格上限的公告》（公告编号：2024-062）。 根据《上市公司股份回购规则》《深圳证券交易 ...

证券代码：000408 证券简称：藏格矿业 公告编号：2024-079 二、担保事项进展情况 近日，公司与中国民生银行股份有限公司西宁分行（以下简称"民生银行西 宁分行"）签订《综合授信合同》，公司向民生银行西宁分行申请人民币 4 亿元 授信额度，授信期限 12 个月。为确保前述债务的履行，公司全资子公司格尔木 藏格钾肥有限公司、格尔木藏格锂业有限公司分别与民生银行西宁分行签订《最 高额保证合同》，对公司前述债务及其产生的利息、其他应付款项提供不可撤销 连带责任保证。 本次担保额度在第九届董事会第十四次会议、2024 年第一次临时股东大会 审议批准的担保额度范围内，无需另行召开董事会或股东大会进行审议。 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进展公告 三、被担保人基本情况 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。 1 一、担保事项概述 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、第九届监事会第十一次会议、于2024年8月26日召开2024年 第一次临时股东大会，审议通过 ...

Group 1: Production and Quality Control - The company has implemented a comprehensive upgrade of hardware, including pipelines, equipment, and valves, to meet the quality requirements for product materials, resulting in a significant reduction in impurity content [2] - The lithium carbonate production process is ongoing, with all related production workshops, including the adsorption workshop, operating normally [2] - The company plans to produce 1.05 million tons of potassium chloride in 2024 and is confident in meeting this production target based on current output [2] Group 2: Technology and Process Improvements - The company has upgraded the electrodialysis device in the nanofiltration workshop to optimize process parameters, enhancing operational stability and treatment capacity [4] - The upgrade has effectively improved lithium recovery and boron removal rates, while reducing the content of impurities such as sodium ions and chloride ions [4] - The company uses both domestic and imported nanofiltration membranes, with differences in warranty periods and performance; domestic membranes have a three-year warranty, while imported membranes have a five-year warranty [2]

Investment Rating - The report gives a "Recommend" rating for the company with a target price of 33.3 yuan [1] Core Views - The company is a significant producer of potassium and lithium salts in China, with high dividend payouts to shareholders [1] - The company's potassium chloride production capacity is expected to double in the future, supported by domestic and international resource expansion [1][8] - The company has mastered the "one-step" lithium extraction technology, with a lithium recovery rate of over 95%, and is expanding its lithium carbonate production capacity [1][9] - The company holds a 30.78% stake in Julong Copper, which contributes significantly to its net profit, with further growth expected from Julong Copper's expansion projects [1][9] Business Overview Potassium Business - The company is the second-largest potassium chloride producer in China, with a production capacity of 2 million tons and a production volume of 1.0942 million tons in 2023 [1][8] - The company is actively expanding its potassium resources both domestically and internationally, with projects in Qinghai and Laos [1][8] - The company's potassium chloride business contributed 61.53% of its total revenue in 2023, with a gross margin of 56.20% [1][8] Lithium Business - The company has a lithium carbonate production capacity of 10,000 tons, with a production volume of 12,100 tons in 2023 and a single-ton cost of 37,000 yuan [1][9] - The company holds a 24% stake in the Mami Cuo Salt Lake, which has a lithium carbonate reserve of 2.1774 million tons, with plans to expand production capacity to 100,000 tons in the future [1][9] - The company's lithium carbonate business contributed 37.89% of its total revenue in 2023, with a gross margin of 80.51% [1][9] Copper Business - The company holds a 30.78% stake in Julong Copper, which is the largest copper mine in China by resource volume, with a copper resource of 25.88 million tons [1][9] - Julong Copper contributed 37.90% of the company's net profit in 2023, and this proportion increased to 72.96% in the first three quarters of 2024 [1][9] - Julong Copper's Phase II expansion project is expected to start trial production in Q1 2026, with a planned copper production capacity of 30-35 million tons per year [1][9] Financial Performance - In 2023, the company achieved a revenue of 5.226 billion yuan, a year-on-year decrease of 36.22%, and a net profit of 3.42 billion yuan, a year-on-year decrease of 39.52% [1][7] - The company's high dividend payout ratio exceeded 70% in both 2022 and 2023, with cumulative cash dividends of 7.02 billion yuan over the two years [1][7] - The company's net profit is expected to be 2.5 billion yuan, 2.77 billion yuan, and 4.29 billion yuan in 2024, 2025, and 2026, respectively, with year-on-year growth rates of -27%, +11%, and +54.9% [1][11] Industry Analysis Potassium Industry - The global potassium salt reserves are concentrated in Canada, Belarus, and Russia, with China accounting for only 5% of the global reserves [103][104] - China's potassium chloride production has been stagnant, with a production volume of 6.72 million tons in 2023, a year-on-year decrease of 10.3% [112] - China's potassium chloride import dependency reached 63% in 2023, with imports mainly from Belarus, Russia, and Canada [112] Lithium Industry - The global lithium supply is expected to increase, with a focus on lithium extraction from salt lakes and hard rock mines [52][53] - The demand for lithium is driven by the growth of the electric vehicle and energy storage industries, with global lithium demand expected to reach 1.2 million tons of LCE by 2026 [59][60] Copper Industry - Julong Copper is the largest copper mine in China by resource volume, with a copper resource of 25.88 million tons and a production capacity of 150,000 tons per year [9][64] - The Phase II expansion project of Julong Copper is expected to increase its production capacity to 30-35 million tons per year by 2026 [9][50]

证券代码：000408 证券简称：藏格矿业 公告编号：2024-078 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进展公告 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、担保事项概述 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、第九届监事会第十一次会议、于2024年8月26日召开2024年 第一次临时股东大会，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》。公司及全资子公司（合并报表范围内全资子公司、全资 二级子公司）拟向银行等金融机构申请不超过人民币30亿元或等值外币的综合授 信额度，并在此授信额度内为前述综合授信业务提供担保。具体内容详见公司在 巨潮资讯网（http://www.cninfo.com.cn）披露的《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》（公告编号：2024-049）。 二、担保事项进展情况 近日，公司全资二级子公司 Zangge Mining International PTE.LTD（中文名称： 藏格矿业 ...

证券代码：000408 证券简称：藏格矿业 公告编号：2024-077 藏格矿业股份有限公司 关于股份回购进展情况的公告 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。 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，2024 年 8 月 26 日召开 2024 年第一次临时股东大会，审议 通过了《关于回购公司股份方案的议案》，公司以 1.5 亿元（含）—3 亿元（含） 自有资金、以回购价格不超过 35.90 元/股（含）回购公司股份用于注销并减少注 册资本。本次回购股份的实施期限为自股东大会审议通过本次回购股份方案之日 起 12 个月内。公司因实施 2024 年半年度权益分派，回购价格由不超过 35.90 元/ 股（含）调整为不超过 35.64 元/股（含）。具体内容详见公司在巨潮资讯网（http: //www.cninfo.com.cn）披露的《关于回购公司股份方案的公告》（公告编号：2024 -050）、《回购报告书》（公告编号：2024-059）、《关于 2024 年半年度权益分派实 施后调整回购股 ...

特此公告。 证券代码：000408 证券简称：藏格矿业 公告编号：2024-076 藏格矿业股份有限公司董事会 藏格矿业股份有限公司 2024年11月28日 关于公司申请广州期货交易所碳酸锂指定交割厂库的进展公告 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2023年7月17日召开第九届董 事会第七次（临时）会议，审议通过了《关于公司申请广州期货交易所碳酸锂指 定交割厂库的议案》，同意公司向广州期货交易所（以下简称"广期所"）申请碳 酸锂指定交割厂库的资质。 2024年11月27日，广期所发布了《关于调整碳酸锂期货指定交割库的公告》 （广期所发〔2024〕316号），决定新增公司全资子公司格尔木藏格锂业有限公司 为碳酸锂期货交割厂库。 公司全资子公司被指定为广期所碳酸锂期货交割厂库有利于进一步扩大公 司在业内的知名度和影响力，对公司后续拓展业务渠道、增加经济效益等产生积 极作用。 1 ...

Group 1: Mining Rights and Projects - The company is currently processing the renewal of the mining license for the Chaharhan Salt Lake, which is expected to proceed smoothly if all conditions and procedures are met [3] - The Ma Mi Cuo project is advancing with the approval and issuance of rights being synchronized, with the project application report submitted to the Tibet Autonomous Region Development and Reform Commission [3] - The initial planned capacity for the Laos potash mine project is 2 million tons of potassium chloride, to be implemented in two phases, with the first phase targeting 1 million tons and a construction period of 36 months [3] Group 2: Financial and Production Performance - In the first three quarters, the company produced 9,278 tons of lithium carbonate and sold 10,200 tons, while producing 756,000 tons of potassium chloride and selling 715,000 tons [4] - The company anticipates achieving its annual production and sales targets based on the fourth-quarter production plan [4] - The company’s future capital expenditures will focus on the acquisition of equity in the Ma Mi Cuo company and the Laos potash mine project, with funding sourced from self-raised capital and financing [4] Group 3: Market Conditions and Pricing - The recent increase in potash fertilizer prices is attributed to seasonal storage needs and a 10% production cut by Russian and Belarusian producers, tightening supply [5] - The national storage target for potash fertilizer is set at 100,000 tons, to be completed in phases [5] Group 4: Tax and Profit Impact - The company expects a net profit impact of approximately 215 million due to tax reimbursements and adjustments related to brine taxes [6]

Summary of Conference Call on Fangge Mining Company Overview - **Company**: Fangge Mining - **Main Operations**: The company operates in three main business segments: 1. Fertilizer production with a capacity of 2 million tons, achieving an actual output of slightly over 1 million tons annually [1] 2. Carbonate chain production with a capacity of 10,000 tons [1] 3. Copper production through its stake in Julong Mining, which has an annual copper output of approximately 180,000 tons [1] Key Points and Arguments - **Production Capacity and Output**: - Fertilizer production capacity is 2 million tons, but actual production is around 1 million tons [1] - The carbonate chain has a production capacity of 10,000 tons [1] - Julong Mining produced 12.2 million tons of copper in the first three quarters, with sales of 12.06 million tons [3] - **Financial Performance**: - The net profit for the first three quarters reached 4.428 billion [3] - The company’s total revenue for the third quarter was approximately 2.32 billion, showing a decline due to lower product prices [10] - Forecasted revenue for 2025 is expected to be around 4.875 billion, with a potential increase to over 4 billion by 2026 [11] - **Cost Efficiency**: - The company’s cost of production for fertilizer is estimated at around 1,200 to 1,300 per ton, indicating a low-cost production model [2] - The net profit per ton of copper is reported to be over 30,000 [3] - **Future Growth and Projects**: - The company is looking to expand its operations, with plans for a second phase of the Julong project expected to be completed by the end of 2025, targeting a production capacity of 300,000 tons [9] - The company is also exploring additional projects in Laos, with a significant resource estimate of 9.84 billion tons [8] - **Market Conditions**: - The overall supply-demand structure in the industry is improving, with reduced overcapacity compared to previous years [10] - The company is positioned well in the market, with a competitive edge due to its low production costs and strong management [4] Other Important Information - **Management Changes**: The actual control of the company has shifted to the founder's sons, with the founder no longer involved in daily operations, which is seen as a positive development [12][13] - **Investment Potential**: The company is viewed as a potential high-dividend stock, with a current valuation that is considered attractive [12][14] - **Risks**: The company has faced some operational risks due to management changes, but these are not expected to significantly impact overall performance [13] This summary encapsulates the key insights from the conference call regarding Fangge Mining's operations, financial performance, future growth prospects, and market conditions.

证券代码：000408 证券简称：藏格矿业 公告编号：2024-075 藏格矿业股份有限公司 关于股份回购进展情况的公告 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。 公司回购股份的时间、回购股份价格及集中竞价交易的委托时段等均符合 《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》的相关规定，具 体说明如下： 1、公司未在下列期间回购公司股份： （1）自可能对本公司证券及其衍生品种交易价格产生重大影响的重大事项 发生之日或者在决策过程中，至依法披露之日内； 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，2024 年 8 月 26 日召开 2024 年第一次临时股东大会，审议 通过了《关于回购公司股份方案的议案》。公司以 1.5 亿元（含）—3 亿元（含） 自有资金、以回购价格不超过 35.90 元/股（含）回购公司股份用于注销并减少注 册资本。本次回购股份的实施期限为自股东大会审议通过本次回购股份方案之日 起 12 个月内。公司因实施 2024 年半年度权益分派，回购价格由不超过 35.90 ...