股票代码：000762 股票简称：西藏矿业 编号：2025-013 第八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。 西藏矿业发展股份有限公司（以下简称"公司"）第八 届董事会第三次临时会议于 2025 年 5 月 30 日以现场加通讯 方式召开。公司董事会办公室于 2025 年 5 月 23 日以邮件、 传真的方式通知了全体董事。会议应到董事 9 人，实到董事 9 人，会议的召集、召开符合《公司法》《公司章程》的有关 规定。会议由董事长张金涛先生主持，经与会董事认真讨论， 审议了以下议案： 一、审议通过了《关于公开挂牌转让控股子公司白银扎 布耶锂业有限公司 100%股权调整挂牌价格的议案》。 （同意 9 票，反对 0 票，弃权 0 票，回避 0 票） 为继续推进本次资产出售，拟将白银扎布耶 100%股权挂 牌转让底价调整为 17,692.137 万元（降价 10%）并委托上海 联合产权交易所进行第二轮公开挂牌转让。同时授权管理层 依法依规办理包括但不限于挂牌、调整挂牌价格、与意向受 让方沟通、配合履行尽职调查和审议程序、签署 ...

Investment Rating - The industry investment rating is optimistic, with a recommendation to buy [3][19]. Core Insights - The report highlights the production elasticity and profit elasticity of electrolytic aluminum companies, indicating that profitability will be a key competitive factor due to fixed production capacity [8]. - The report predicts a decrease in the volatility of alumina prices in 2025, which will enhance the profitability of companies like Yun Aluminum, Shenhuo, and Tianshan [8]. - The report provides forecasts for gold production from listed companies, with specific attention to the CAGR of production from 2024 to 2027 [10][11]. Summary by Sections Copper Industry - The report includes production data and forecasts for major copper companies, emphasizing the importance of proprietary mining data [6]. Electrolytic Aluminum - The report details the production capacity and market valuation of various electrolytic aluminum companies, noting that the lowest market value per ton of aluminum is approximately 21,000 RMB [8][9]. Gold Industry - The report presents a forecast of self-produced gold output for listed companies, with specific figures for total gold resources and market capitalization [10][11]. Lithium Industry - The report outlines the lithium resource rights and production forecasts for several companies, highlighting significant growth rates for companies like Ganfeng Lithium and Yongxing Materials [12]. Uranium Industry - The report discusses the production forecasts for uranium companies, particularly focusing on China General Nuclear Power Corporation, with a projected CAGR of 8.16% from 2024 to 2027 [14][15].

Investment Rating - The industry investment rating is "Positive" [1] Core Viewpoints - The report highlights that the lithium industry is expected to see significant production increases from key players such as Ganfeng Lithium, Tianqi Lithium, and others from 2024 to 2026, driven by various projects coming online [3][4] - Ganfeng Lithium is projected to have the highest production capacity in 2025 and 2026, with major contributions from the Goulamina project and several salt lake projects [3] - The report emphasizes the rapid growth in production rates for companies like Yahua Group and Sichuan Energy Power, indicating a robust expansion in the lithium sector [3] Summary by Relevant Sections Production Forecast - Ganfeng Lithium: Expected production of 8.6 million tons LCE in 2025, growing to 11.4 million tons LCE by 2026, with a CAGR of 49% [4] - Tianqi Lithium: Projected to produce 9.3 million tons LCE in 2025, increasing to 10.4 million tons LCE by 2026, with a CAGR of 8% [4] - Yahua Group: Anticipated to ramp up production significantly from 0.5 million tons LCE in 2024 to 3.3 million tons LCE by 2026, reflecting a CAGR of 145% [4] - Other companies like Zhongjin Lingnan and Xizang Mining are also expected to see substantial increases in production, contributing to the overall growth of the industry [3][4]

Investment Rating - The report maintains an "Overweight" rating for the lithium and cobalt industry [2][5]. Core Insights - The report highlights a return to weak realities from strong expectations in the cobalt and lithium markets, with prices rebounding before retreating [14][15]. - The easing of US-China trade relations is expected to buffer the downward trend in lithium prices, although the overall market remains cautious [14][15]. - Cobalt market dynamics are characterized by a tightening supply and a cautious outlook from industry players, with many adopting a wait-and-see approach [16]. Summary by Sections 1. Cycle Assessment - The lithium sector is experiencing a slight price decline, with the Wuxi 2507 contract down 1.57% to 62,600 CNY/ton, and the Guangxi 2507 contract down 1.94% to 61,800 CNY/ton [14]. - Lithium concentrate prices have decreased to 712 USD/ton, down 13 USD/ton from the previous period [14]. - Recommended stocks for overweight positions include Zhongmin Resources, Yahua Group, Cangge Mining, Ganfeng Lithium, Keda Manufacturing, and Tibet Mining [14]. 2. Company and Industry Dynamics Tracking - The report notes significant developments in the industry, including a major discovery at the Tamarack copper-nickel project in Minnesota [19]. - The International Cobalt Institute predicts a shift to a cobalt shortage by the early 2030s, driven by demand growth outpacing supply [19]. - Salt Lake Co. has signed a project cooperation letter indicating a potential investment of around 300 million USD in Highfield Resources [19]. 3. Key Data: New Energy Material Production, Imports, and Metal Prices - Domestic production of lithium carbonate and lithium hydroxide saw a month-on-month decline in April [20]. - Lithium carbonate production decreased by 7% month-on-month but increased by 40% year-on-year [22]. - Cobalt sulfate production increased by 11% month-on-month and 48% year-on-year [23]. - The average price of battery-grade lithium carbonate fell by 2.15% to a range of 66,100-64,600 CNY/ton [57]. 4. Listed Company Profit Forecasts - Ganfeng Lithium is projected to have a PE ratio of 86.06 for 2025, while Tianqi Lithium is rated cautiously with a PE of 58.30 for 2025 [94]. - Huayou Cobalt is rated for an overweight position with a PE of 11.79 for 2025 [94].

前十大流通股东累计持有： 13229.07万股，累计占流通股比： 25.4%，较上期变化： -66.26万股。 | 名称 持有数量(万股) | | 占总股本比 | 增减情况 | | --- | --- | --- | --- | | | | 例(%) | (万股) | | 西藏矿业（000762）资产经营有限公司 | 10873.35 | 20.88 | 不变 | | 成都天齐实业(集团)有限公司 | 460.00 | 0.88 | 不变 | | 招商银行股份有限公司-南方中证1000交易型开放式指数证 | | | | | 券投资基金 | 312.64 | 0.60 | -31.26 | | 中国工商银行股份有限公司-汇添富中证新能源汽车产业指 | | | | | 数型发起式证券投资基金(LOF) | 275.16 | 0.53 | -30.42 | | 段林华 | 274.18 | 0.53 | 不变 | | 香港中央结算有限公司 | 247.21 | 0.47 | 17.49 | | 中国建设银行股份有限公司-富国中证新能源汽车指数型证 | | | | | 券投资基金 | 210.42 | 0.40 | ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥67,741,157.68, a decrease of 54.16% compared to ¥147,774,688.94 in the same period last year[5] - The net profit attributable to shareholders was a loss of ¥13,439,922.41, representing a decline of 156.77% from a profit of ¥23,672,747.97 in the previous year[5] - The basic and diluted earnings per share were both -¥0.0258, down 156.83% from ¥0.0454 in the same period last year[5] - Operating profit for the current period is -¥14,222,467.47, compared to an operating profit of ¥46,610,807.42 in the previous period[17] - Net profit for the current period is -¥16,222,467.47, a significant decline from a net profit of ¥39,391,429.90 in the previous period[18] - The company reported a loss attributable to shareholders of the parent company of -¥13,439,922.41, compared to a profit of ¥23,672,747.97 in the previous period[18] Cash Flow - The net cash flow from operating activities decreased by 60.16%, amounting to ¥11,186,210.20 compared to ¥28,078,437.38 in the prior year[5] - Operating cash flow for the current period is ¥11,186,210.20, a decrease of 60% from ¥28,078,437.38 in the previous period[20] - The company’s total cash inflow from operating activities is ¥93,440,335.91, down from ¥158,446,905.76, indicating a decrease of approximately 41%[20] - Total cash inflow from investment activities is ¥74,350,390.27, down from ¥104,084,388.89, reflecting a decline of approximately 29%[20] - Net cash flow from investment activities is -¥137,725,402.70, an improvement from -¥550,690,510.52 in the previous period[20] - Cash and cash equivalents at the end of the period stand at ¥775,995,566.10, down from ¥1,109,986,826.20, indicating a decrease of about 30%[21] - The net increase in cash and cash equivalents for the current period is -¥131,639,607.61, compared to -¥532,063,419.70 in the previous period[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥7,430,761,684.35, a slight decrease of 0.15% from ¥7,441,890,475.23 at the end of the previous year[5] - Total liabilities amount to ¥3,559,183,549.31, slightly up from ¥3,556,868,626.70 in the previous period[16] - Total equity stands at ¥3,871,578,135.04, down from ¥3,885,021,848.53 in the previous period[16] - Non-current assets total ¥6,029,788,722.20, slightly down from ¥6,054,809,919.17 at the beginning of the period[15] - The company’s inventory decreased to ¥58,345,536.26 from ¥69,167,390.64[15] Shareholder Information - The total number of common shareholders at the end of the reporting period is 117,329[11] - The largest shareholder, Tibet Mining Assets, holds 20.86% of the shares, totaling 108,733,483 shares[11] - The company has a total of 0 preferred shareholders at the end of the reporting period[13] Expenses and Investments - Management expenses rose by 34.69% to ¥24,446,413.23, mainly due to increased utility costs[9] - The company recorded a non-operating expense of ¥2,000,000.00 related to donations made during the reporting period, a significant increase of 2139.86% compared to the previous year[9] - Investment income increased by 33.96% to ¥6,484,384.70, attributed to higher returns from financial products[9] Strategic Outlook - Future outlook and strategic initiatives were not explicitly mentioned in the provided documents, suggesting a focus on recovery and stabilization following the reported losses[17][18] - The company held a board meeting on March 31, 2025, to discuss various proposals, including the annual profit distribution plan[14]

西藏矿业（000762）公告，2025年第一季度营业收入6774.12万元，同比下降54.16%。净亏损1343.99万 元，去年同期净利润2367.27万元。 ...

股票代码：000762 股票简称：西藏矿业 编号：2025-011 西藏矿业发展股份有限公司 2024 年年度股东大会决议公告 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。 西藏矿业 一、重要提示 1.本次股东大会未出现否决议案的情形。 2.本次股东大会未涉及变更以往股东大会决议的情形。 二、会议召开的情况 1.召开时间： （1）现场会议时间：2025年4月23日14:30。 （2）网络投票时间：2025年4月23日，其中：通过深圳证券交 易所（以下简称"深交所"）交易系统投票的时间为：2025年4月 23日9:15-9:25,9:30-11:30和13:00-15:00；通过深交所互联网投 票系统（http://wltp.cninfo.com.cn）投票的时间为2025年4月23 日9:15-15:00。 2.召开地点：西藏矿业发展股份有限公司（以下简称"本公司" 或"公司"）所在地西藏自治区拉萨市柳梧新区慈觉林街道顿珠金 融城金玺苑15层。 3.召开方式：本次股东大会采用现场表决与网络投票相结合方 式召开。 4.召集人：西藏矿业发展股份有限公司董事会 三、 ...

2024 年年度股东大会 之 法律意见书 北京市金开（成都）律师事务所 中国·四川·成都·武侯区领事馆路 7 号保利中心南塔 1109 室 电话：028-8529 3955 传真：028-8529 3885 网址：http://www.jklawyers.cn 法律意见书 北京市金开（成都）律师事务所 关于 西藏矿业发展股份有限公司 法律意见书 北京市金开（成都）律师事务所关于西藏矿业发展股份有限 公司 2024 年年度股东大会之 法律意见书 致：西藏矿业发展股份有限公司 北京市金开（成都）律师事务所（以下简称"本所"）受西藏矿业发展股份 有限公司（以下简称"公司"）委托，指派贺鹏康律师、胡江律师（以下简称"本 所律师"）出席公司 2024 年年度股东大会（以下简称"本次股东大会"）。本所律 师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）及中国证券监督管理委员会（以下简称"中 国证监会"）发布的《上市公司股东大会规则》（以下简称《股东大会规则》）、《上 市公司治理准则》（以下简称《治理准则》）和深圳证券交易所发布的《深圳证券 交易所上市公司股东大 ...

投资要点： 事件 公司发布2024 年报。2024 年公司实现营收6.22 亿元，同比-22.76%，实现归母净利润1.12 亿元，同 比-31.79%，扣非净利润0.76亿元，同比-41.75%。24Q4 营收0.35 亿元，同比-85.8%，环比-82.04%，归 母净利润-0.4 亿元，同比-179.77%，环比-198.31%。 风险提示 铬矿量价齐升，毛利率显著提升 公司2025 年继续致力于扎布耶一期工艺的优化，并积极推进扎布耶二期建设及三期项目的策划工作。 扎布耶二期投产后，氯化钾即可实现销售。按可研报告，二期设计氯化钾产能15.6 万吨/年。公司2025 年计划生产铬铁矿10 万吨（富矿8 万吨，贫矿2 万吨），生产锂精矿5000 吨，生产碳酸锂产品7000 吨 和氯化钾产品93000 吨。 盈利预测与投资建议 我们预计公司2025-2027 年归母净利润为1.9/4.0/6.4 亿元（25-26年前值为4.0/6.3 亿元，主因二期投产慢 于预期，下调了锂和铬产量预测），同比+71%/111%/58%，公司作为中国少有的铬矿和西藏盐湖资源 拥有者，目前资源潜力未完全兑现，远期潜力巨大，维持" ...