Macro Insights - The US March CPI data was weaker than expected, with core CPI month-on-month dropping from 0.23% in February to 0.06%, and year-on-year at 2.8%, below the expected 3.0% [2] - The overall CPI month-on-month fell from 0.22% in February to -0.05%, with year-on-year CPI decreasing to 2.4%, both below expectations [2] - Despite the cooling inflation in March, market reactions were muted due to ongoing concerns about tariffs and their impacts, with little change in Fed rate cut expectations [2] Tariff Policy Analysis - On April 9, Trump announced a 90-day suspension of the reciprocal tariff plan, while imposing a 10% tariff on countries outside China, Mexico, and Canada, and increasing the reciprocal tariff on China to 145% [3] - Tariffs are expected to remain a frequently adjusted tool in Trump's negotiations, with potential for further increases against countries perceived as unfavorable [3] - The market may gradually become desensitized to tariff policy changes, with uncertainty becoming a new norm [3] Energy Price Impact - In March, China's CPI was -0.1% year-on-year, lower than the expected 0%, while PPI was -2.5%, also below expectations [4] - The decline in energy prices has contributed to the downward pressure on PPI, indicating a broader economic impact [4] Fixed Income Market Trends - The 10-year US Treasury yield rose sharply from 4.0% to around 4.5%, despite weakening economic fundamentals [5] - The bond market's significant adjustment occurred without drastic changes in macroeconomic data, raising investor concerns [6] Energy Sector Developments - The National Development and Reform Commission released a plan for upgrading coal power plants to enhance flexibility, indicating a market potential of 100-200 billion yuan annually [9] - Companies like Dongfang Electric are recommended due to their involvement in this transition [9] Aviation and Low-altitude Economy - The low-altitude economy is seen as a key area for investment, with potential market space reaching trillions, driven by regulatory changes and advancements in eVTOL technology [10] Company-Specific Insights - Chongqing Bank is covered for the first time with a buy/hold rating, targeting a PB of 0.70/0.47, benefiting from the Chengdu-Chongqing economic circle [12] - Anta Sports reported strong Q1 performance with retail growth across brands, maintaining a buy rating due to competitive advantages [13] - Yutong Heavy Industries showed a 77% increase in new energy vehicle sales, with a robust cash flow supporting its growth outlook [13] - Pinggao Electric is expected to see significant profit growth due to high voltage business expansion, with a buy rating maintained [17] - Wanfu Biology's international business led to a 10.9% revenue increase, with a buy rating supported by stable cash flow and margin improvements [29]

Core Viewpoint - The company, Shandong Jinling Mining Co., Ltd., has disclosed its quarterly report, ensuring the accuracy and completeness of the financial information presented, and has not undergone an audit for this report [3][10]. Financial Data Summary - The company reported that there are no adjustments or restatements required for previous accounting data [3]. - Non-recurring gains and losses include a refund of personal income tax handling fees [3]. - Changes in major accounting data and financial indicators are attributed to various factors, including the confirmation of bank acceptance bills and an increase in accounts receivable due to unmet contract conditions [4][5]. - The increase in inventory and raw materials is noted, along with a significant rise in receivables from a government project [5][6]. - The profit statement indicates an increase in customer-related expenses and a decrease in net profit from associated enterprises [6]. - The cash flow statement reflects increased sales of iron and copper concentrates, along with higher land compensation receipts [7]. Shareholder Information - The company has not reported any changes in the top ten shareholders or the number of shareholders holding more than 5% of shares [8]. Other Important Matters - The company obtained a mineral resource exploration permit for the Qihe County Dazhang area on March 5, 2025, which is a significant development for its mining operations [8]. - An annual performance briefing is scheduled for April 16, 2025, to enhance communication with investors [10][11].

登录新浪财经APP 搜索【信披】查看更多考评等级 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）声明：保证季度报告中财务信 息的真实、准确、完整。 3.第一季度报告是否经审计 □是 √否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ （二） 非经常性损益项目和金额 √适用 □不适用 单位：元 ■ 其他符合非经常性损益定义的损益项目的具体情况 √适用 □不适用 其他符合非经常性损益定义的损益项目为个人所得税手续费返还。 将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》中列举的非经常性损益项目界 定为经常性损益项目的情况说明 □适用 √不适用 公司不存在将《公开发行证券的公司信息披露解释性公告第1号一一非经常性损益》中列举的非经常性 损益项目界定为经常性损益的项 ...

本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 山东金岭矿业股份有限公司（以下简称"公司"）已于 2025 年 3 月 29 日在巨 潮资讯网（www.cninfo.com.cn）上披露了《2024 年年度报告》及《2024 年年度报 告摘要》。为便于广大投资者更加全面深入地了解公司情况，公司定于 2025 年 4 月 16 日（星期三）15:00-16:00 在"价值在线"（www.ir-online.cn）举办 2024 年度业绩说明会，与投资者进行沟通和交流，广泛听取投资者的意见和建议。 一、参会方式 本次年度业绩说明会将采用网络互动的方式举行，投资者可于 2025 年 4 月 16 日（星期三）15:00-16:00 通过网址 https://eseb.cn/1n8VEbA1vd6 或使用微信扫描 下方小程序码即可进入参与互动交流。 二、出席人员 出席本次网上业绩说明会的人员有：总经理王其成先生、董事会秘书兼财务负 责人邱卫东先生以及独立董事肖岩先生。 证券代码：000655 证券简称：金岭矿业 公告编号：2025－017 山东金岭矿业股份有限公司 关于举 ...

山东金岭矿业股份有限公司监事会 关于 2025 年第一季度报告的审核意见 公司监事会对公司 2025 年第一季度报告进行了认真严格的审核， 出具了如下审核意见： 经审核，监事会认为董事会编制和审议公司 2025 年第一季度报 告的程序符合法律、行政法规、中国证监会及深圳证券交易所的规定， 报告内容真实、准确、完整地反映了公司的实际情况，不存在任何虚 假记载、误导性陈述或者重大遗漏。 山东金岭矿业股份有限公司 监事会 2025 年 4 月 8 日 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 356,360,722.37, representing a 26.98% increase compared to CNY 280,635,323.92 in the same period last year[5] - Net profit attributable to shareholders reached CNY 49,099,068.74, a significant increase of 122.53% from CNY 22,064,263.87 year-on-year[5] - Basic earnings per share rose to CNY 0.0825, up 122.37% from CNY 0.0371 in the prior year[5] - The company reported a 125.20% increase in operating profit, amounting to CNY 61,919,657.56, compared to CNY 27,495,360.47 in the same period last year[18] - Net profit for the current period was ¥50,043,074.47, representing a 118% increase from ¥22,942,846.18 in the previous period[37] - Earnings per share (EPS) for the current period was ¥0.0825, compared to ¥0.0371 in the previous period, indicating a 122% growth[38] - The company reported a total comprehensive income of ¥51,697,223.57, compared to ¥24,756,924.83 in the previous period, marking a 108% increase[38] Cash Flow - The net cash flow from operating activities improved to CNY 3,989,231.29, a turnaround from a negative cash flow of CNY -77,141,934.75 in the previous year, marking a 105.17% increase[5] - Cash received from sales of goods and services rose by 67.51% to CNY 404,258,486.67, driven by increased sales volumes of iron and copper concentrates[26] - Cash inflow from operating activities totaled ¥419,504,821.49, a 68% increase from ¥250,152,778.83 in the previous period[40] - The net cash flow from operating activities was $3,989,231.29, a significant improvement compared to a net outflow of $77,141,934.75 in the previous period, indicating a turnaround in operational performance[41] - The net increase in cash and cash equivalents was -$135,018.72, a significant improvement from -$88,265,723.86 in the previous period, indicating better cash management[41] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,912,171,393.23, reflecting a slight increase of 0.37% from CNY 3,897,859,404.14 at the end of the previous year[5] - The total liabilities decreased from CNY 322.81 million to CNY 287.36 million, a reduction of approximately 11%[33] - The total liabilities amounted to ¥459,465,416.55, a decrease from ¥498,222,380.75[34] - The company’s total equity attributable to shareholders increased by 1.55% to CNY 3,408,318,828.02 from CNY 3,356,350,895.27 at the end of the previous year[5] - Total equity attributable to shareholders reached ¥3,408,318,828.02, up from ¥3,356,350,895.27, reflecting a growth of 1.55%[34] Operational Metrics - Sales expenses increased by 43.50% to CNY 678,899.64, attributed to higher customer acquisition costs[18] - The company experienced a 67.51% increase in accounts receivable, totaling CNY 36,713,882.54, due to increased sales and unfulfilled contract conditions[10] - Accounts receivable increased to CNY 36.71 million from CNY 27.17 million, reflecting a growth of 35.5%[32] - Inventory increased from CNY 90.12 million to CNY 118.04 million, indicating a rise of 31%[32] - The company reported a significant increase in contract liabilities from CNY 16.38 million to CNY 22.93 million, a growth of 40%[33] Investments and Future Plans - The company obtained a mineral exploration license for the Qihe County Dazhang area on March 5, 2025[31] - Research and development expenses were ¥3,986,927.16, slightly up from ¥3,914,400.77, indicating continued investment in innovation[37] - The company plans to implement new accounting standards starting in 2025, which may impact future financial reporting[42] Shareholder Information - The total number of common shareholders at the end of the reporting period is 34,427[30] - The largest shareholder, Shandong Jinling Iron Mine Co., Ltd., holds 58.41% of the shares, totaling 347,740,145 shares[30] Audit and Reporting - The company’s first quarter report was not audited, which may affect the reliability of the financial data presented[42]

证券代码：000655 证券简称：金岭矿业 公告编号：2025-014 山东金岭矿业股份有限公司 关于会计政策变更的公告 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、本次会计政策变更情况概述 1.会计政策变更的原因 3.变更前采用的会计政策 本次会计政策变更前，公司执行财政部发布的《企业会计准则——基本准则》 和各项具体会计准则、企业会计准则应用指南、企业会计准则解释公告以及其他 相关规定。 4.变更后采用的会计政策 本次变更后，公司按照《企业会计准则解释第18号》的相关规定执行，其他 未变更部分，仍按照财政部前期发布的《企业会计准则-——基本准则》和各项 2024年12月6日，财政部发布了《关于印发〈企业会计准则解释第18号〉的 通知》（财会〔2024〕24号），规定在对不属于单项履约义务的保证类质量保证 产生的预计负债进行会计核算时，企业应当根据《企业会计准则第13号——或有 事项》有关规定，按确定的预计负债金额，借记"主营业务成本"、"其他业务 成本"等科目，贷记"预计负债"科目，并相应在利润表中的"营业成本"和资 产负债表中的"其他流动负债"、 ...

证券代码：000655 证券简称：金岭矿业 公告编号：2025-013 山东金岭矿业股份有限公司 关于与山东钢铁集团财务有限公司发生金融业务持续关联 交易预计的公告 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、关联交易基本情况 山东金岭矿业股份有限公司（以下简称"公司"或"本公司"）于 2023 年 4 月 20 日召开的第九届董事会第十六次会议和 2023 年 5 月 12 日召开的 2022 年 度股东大会审议通过了《关于与山东钢铁集团财务有限公司续签<金融服务协议> 的关联交易议案》，有效期为 3 年，金融服务内容包括存款服务、贷款及贴现服 务、结算服务及其他金融服务。在协议有效期内，公司及其附属公司在山东钢铁 集团财务有限公司（以下简称"财务公司"）最高日存款余额加利息不超过人民 币捌亿元，且甲方及其附属公司存放在乙方的日存款余款占乙方吸收的存款余款 的比例不超过 30%（募集资金及财政专项资金不得存放于乙方）；财务公司对公 司及其附属公司提供的年综合授信额度最高不超过人民币拾亿元。 2025 年 3 月 27 日，公司第十届董事会第五次会议审 ...

大信2023年度业务收入15.89亿元，为超过10,000家公司提供 服务。业务收入中，审计业务收入13.80亿元、证券业务收入4.50 亿元。2023年上市公司年报审计客户204家（含H股），平均资产 额146.53亿元，收费总额2.41亿元。主要分布于制造业，信息传 输、软件和信息技术服务业，电力、热力、燃气及水生产和供应 业，科学研究和技术服务业、水利、环境和公共设施管理业。 大信首席合伙人为谢泽敏先生。截至2024年12月31日，大信 从业人员总数3957人，其中合伙人175人，注册会计师1031人。 注册会计师中，超过500人签署过证券服务业务审计报告。 （二）聘任程序 公司于2024年9月11日召开的第九届董事会审计委员会第十 九次会议、第九届董事会第二十七次会议（临时）和2024年9月27 日召开的2024年第四次临时股东大会审议通过了《关于变更会计 师事务所的议案》，同意聘任大信为公司2024年度财务审计机构 及内部控制审计机构。 山东金岭矿业股份有限公司 2024年度会计师事务所履职情况评估报告 根据财政部、国资委及证监会颁布的《国有企业、上市公司 选聘会计师事务所管理办法》，山东金岭矿业股 ...

一、2024 年年审会计师事务所基本情况 根据《国有企业、上市公司选聘会计师事务所管理办法》的 规定和要求，山东金岭矿业股份有限公司（以下简称"公司"） 董事会审计委员会本着勤勉尽责的原则，恪尽职守，认真履职。 现将董事会审计委员会对会计师事务所履行监督职责的情况汇 报如下： 山东金岭矿业股份有限公司 董事会审计委员会对会计师事务所 2024 年度 履行监督职责情况报告 （一）会计师事务所基本情况 1.机构名称：大信会计师事务所（特殊普通合伙）（以下简 称"大信"）； 2.成立日期：大信成立于 1985 年，2012 年 3 月转制为特殊 普通合伙制事务所； 4.注册地址：北京市海淀区知春路 1 号 22 层 2206； 5.首席合伙人：谢泽敏； 6.截至 2024 年 12 月 31 日，大信从业人员总数 3957 人，其中 合伙人 175 人，注册会计师 1031 人。注册会计师中，超过 500 人 签署过证券服务业务审计报告； 7.2023年度业务总收入：15.89亿元，其中审计业务收入13.80 亿元，证券业务收入 4.5 亿元； 8.2023 年上市公司年报审计客户 204 家（含 H 股），平均资 ...