Core Points - As of November 10, 2025, the total number of shareholders for China National Chemical Corporation (中色股份) is projected to be 124,000 [1]

Investment Rating - The report maintains a positive outlook on the non-ferrous metals industry, indicating a favorable investment rating for the sector [2]. Core Insights - The overall ESG scores for the 18 central enterprises in the non-ferrous metals industry are high, with 11 companies scoring over 100 points, reflecting a systematic approach to ESG management [2][8]. - The report highlights that while environmental management is prioritized, there are areas for improvement in third-party verification and social responsibility disclosures [2][11][56]. Summary by Sections 1. Overall Scores and Governance - The ESG governance structure is well-established, with a majority of companies achieving high scores, indicating a mature disclosure framework [8][11]. 2. Importance Assessment - All companies have disclosed financial and impact importance assessments, but only 11% have third-party verification, indicating a need for improvement in external validation [11][12]. 3. Environmental Management - Environmental disclosures are comprehensive, with 67% of companies achieving full scores in environmental indicators, though there is room for improvement in areas like green mining and circular economy practices [18][21]. 4. Climate Change Response - A significant number of companies (67%) received full scores for climate-related disclosures, demonstrating a strong commitment to addressing climate change [36][40]. 5. Social Responsibility - Social indicators show high coverage, with a focus on social responsibility, although disclosures on technology ethics are lacking [56][59]. 6. Governance Structure - The governance framework is robust, with most companies having established ESG reporting mechanisms, but there is a notable weakness in due diligence practices [69].

Investment Rating - The report indicates a positive outlook for the non-ferrous metals industry, with a focus on ESG performance management among central enterprises [3][4]. Core Insights - The report evaluates 18 central enterprises in the non-ferrous metals sector based on an established ESG rating system, highlighting that 11 companies scored over 100 points, reflecting a systematic approach to ESG management [4][12]. - Environmental management is prioritized, with comprehensive disclosure on pollution control, waste management, and energy utilization, although there is room for improvement in areas like green mining and circular economy indicators [4][24]. - The report emphasizes the importance of climate-related governance, with many companies actively addressing climate change and setting reduction targets, though mechanisms for information acquisition need enhancement [4][42]. - Social responsibility is a key focus, with all companies covering social indicators, but there is a noted deficiency in disclosures related to technology ethics [4][61]. - Governance structures are generally robust, but there is a need for improvement in due diligence practices, particularly concerning compliance checks of supply chain partners [4][75]. Summary by Sections 1. Overall Scores and ESG Governance - The overall ESG scores for the 18 central enterprises are high, with 61.1% scoring above 100 points, indicating a well-established ESG management framework [12]. 2. Importance Assessment: Need for Third-Party Verification - All companies disclosed financial and impact importance assessments, but only 11% provided third-party verification, indicating a gap in independent validation [16][17]. 3. Environmental: Mature Disclosure, Comprehensive Management - Environmental indicators show high scores, with 67% of companies achieving full marks, reflecting strong environmental protection awareness [24][27]. 4. Climate: Accelerating Disclosure Framework - 67% of companies received full scores for climate-related disclosures, demonstrating a high level of commitment to addressing climate change [42][49]. 5. Social: Commitment to Social and Management Responsibilities - Social responsibility indicators are fully covered by all companies, but technology ethics disclosures are lacking [61][64]. 6. Governance: Well-Structured, Need for Enhanced Due Diligence - Governance structures are generally well-defined, with high coverage of governance mechanisms, but due diligence practices require further development [75][76].

Core Viewpoint - The company, China Nonferrous Metal Industry's Group, is focusing on expanding its mining operations primarily in lead and zinc while also exploring opportunities in other metal varieties to increase its reserves of nonferrous metals [1] Group 1 - The company currently prioritizes lead and zinc in its mining operations [1] - The company aims to leverage its existing base in lead and zinc to explore and develop other metal varieties [1] - The strategy includes a continuous increase in the reserves of nonferrous metal resources [1]

Core Viewpoint - The company emphasizes resource expansion as a strategic priority and is actively pursuing various models for resource development, including "mineral exploration" and "engineering for resources" [1] Group 1: Resource Development Strategy - The company is continuously exploring and developing mining rights both domestically and internationally to lay the foundation for future resource expansion [1] - The production scale of the mining license for the company's main mine has increased from 990,000 tons per year to 1,650,000 tons per year, indicating a significant enhancement in production capacity [1] Group 2: Project Progress - The company is accelerating the research and advancement of project construction related to the mining license [1] - The Darui project is actively pushing for the approval and filing processes with relevant Indonesian authorities [1] - The company is conducting resource selection and economic assessments in Qinghai [1] Group 3: Information Disclosure - The company commits to timely information disclosure in accordance with regulatory requirements if there are any significant developments that meet disclosure standards [1]

Core Viewpoint - 中色股份 held a performance briefing for Q3 2025, emphasizing its operational resilience and confidence in steady development despite a decline in revenue due to project phases [1] Group 1: Financial Performance - The company reported a decrease in Q3 revenue primarily due to two projects entering later stages while new projects are still in the initial phase, leading to reduced engineering income [1] - As of the end of Q3, the company signed new contracts totaling 7.652 billion yuan, with an uncompleted contract value of 34.688 billion yuan, indicating a robust order backlog [1] - The company is actively expanding capacity, exemplified by the increase in production scale for 中色白矿 from 990,000 tons/year to 1,650,000 tons/year [1] Group 2: Competitive Advantages - The company's core competitive advantages include full industry chain coverage and advancements in digitalization, intelligence, and sustainable development technologies [2] - 中色股份 operates two producing mines, one under construction, and a zinc smelting plant, with ongoing improvements in mining intelligence and product development [2] - The company has strong overseas resource development capabilities and excellent cost control, focusing on projects in regions like Mongolia and Indonesia [2] Group 3: International Business and Strategic Initiatives - Since 2025, the company has made significant strides in international business, including a $572 million contract for a Vietnam aluminum project, with 15% of the project completed by Q3 [3] - The company has successfully launched the first standard gold ingot from the Indonesia copper smelting project, marking a new operational model in engineering services [3] - The dual strategy of "resource development + engineering contracting" has ensured the company's steady growth and operational resilience [3] Group 4: Market Value Management - The company plans to increase its shareholding by approximately 2% in 2025, reflecting confidence in its future prospects [4] - A cash dividend distribution of 91.6707 million yuan is planned for all shareholders as part of the 2024 profit distribution proposal [4] - The company received an A rating for information disclosure from the Shenzhen Stock Exchange and recognition through various awards, indicating positive market feedback [4]

北京市炜衡律师事务所 关于 中国有色金属建设股份有限公司 2025年第六次临时股东会 之 法律意见书 北京市海淀区北四环西路66号中国技术交易大厦A座16层 电话：010-62684688 传真：010-62684288 北京市炜衡律师事务所 关于 中国有色金属建设股份有限公司 2025年第六次临时股东会 之 法律意见书 致：中国有色金属建设股份有限公司 北京市炜衡律师事务所（以下简称"本所"）接受中国有色金属建设股 份有限公司（以下简称"公司"）委托，指派律师出席公司2025年第六次临 时股东会（以下简称"本次会议"），依据《中华人民共和国公司法》（以 下简称"《公司法》"）《深圳证券交易所股票上市规则》《上市公司股东 会规则》（以下简称"《股东会规则》"）《深圳证券交易所上市公司股东 会网络投票实施细则》等法律、行政法规、规章和规范性文件以及《中国有 色金属建设股份有限公司章程》（以下简称"《公司章程》"）之有关规定， 对本次会议召开的合法性进行见证，并依法出具本法律意见。 本所系经北京市司法局批准设立并依法执业的律师事务所，统一社会信 用代码为31110000E000163031；为出具本法律意见书签字 ...

证券代码：000758 证券简称：中色股份 公告编号：2025-080 中国有色金属建设股份有限公司 2025 年第六次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏。 特别提示： 1．本次股东会召开期间无增加、修改提案情况，不存在否决提案的情况； 2．本次股东会无变更以往股东会决议的情况。 一、会议召开情况 1．会议召开时间：2025 年 11 月 05 日下午 14:30 2．会议召开地点：北京市朝阳区安定路 10 号中国有色大厦 6 层 611 会议 室 3．会议召集人：公司第十届董事会 4．会议召开方式：现场记名投票表决和网络投票表决相结合 其中：通过现场投票的股东 3 人，代表股份 704,876,579 股，占公司有表决 权股份总数的 35.4111％。 1 通过网络投票的股东 870 人，代表股份 30,492,526 股，占公司有表决权股 份总数的 1.5319％。 中小股东出席的总体情况： 通过现场和网络投票的中小股东 870 人，代表股份 30,492,526 股，占公司 有表决权股份总数的 1.5319％。 5．现场会议主 ...

Core Insights - The company, China National Chemical Corporation, reported that as of October 31, 2025, the total number of shareholders is expected to reach 121,783 [2] Company Summary - The company has engaged with investors through an interactive platform, indicating a proactive approach to shareholder communication [2] - The projected increase in the number of shareholders suggests potential growth in investor interest and engagement with the company [2]

Core Viewpoint - 中色股份 is a leading player in the non-ferrous metals industry, with a dual business model of metal mining and international engineering contracting, showcasing strong competitive advantages in the market [1] Group 1: Business Performance - In Q3 2025, 中色股份 reported revenue of 6.931 billion yuan, ranking 6th in the industry, with the top competitor, 中金岭南, achieving 48.459 billion yuan [2] - The net profit for the same period was 528 million yuan, placing 中色股份 7th in the industry, while the leading competitor, 兴业银锡, reported a net profit of 1.354 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, 中色股份 had a debt-to-asset ratio of 59.28%, which is higher than the industry average of 50.54% and up from 54.66% in the previous year [3] - The gross profit margin for 中色股份 was 15.93%, an increase from 14.65% year-on-year, but still below the industry average of 25.75% [3] Group 3: Leadership - The chairman, 刘宇, has a strong background with a master's degree from Tsinghua University and holds senior positions within the China Nonferrous Mining Group [4] - The general manager, 谭耀宇, is experienced in finance and holds a senior accountant qualification, contributing to the company's strategic direction [4] Group 4: Shareholder Information - As of September 30, 2025, 中色股份 had 119,800 A-share shareholders, a decrease of 1.03% from the previous period, with an average of 16,500 shares held per shareholder, an increase of 1.04% [5] - Major shareholders include Hong Kong Central Clearing Limited and various ETFs, with notable changes in shareholdings among the top ten shareholders [5] Group 5: Future Outlook - 开源证券 has initiated coverage on 中色股份 with a "buy" rating, projecting net profits of 550 million yuan, 656 million yuan, and 780 million yuan for 2025, 2026, and 2027 respectively [6] - The resource segment is expected to see significant growth due to the expansion of the 白音诺尔铅锌矿 and 达瑞 projects, potentially doubling zinc production capacity [6] - The engineering contracting segment has a robust order backlog exceeding 50 billion yuan, with opportunities arising from the "Belt and Road" initiative [6]