Core Viewpoint - The company, Ningxia Dongfang Tantalum Industry Co., Ltd., is set to issue A-shares to specific targets in 2025, with the supervisory board confirming compliance with relevant laws and regulations [1][2][3]. Group 1: Compliance and Strategic Alignment - The company's plan for the 2025 A-share issuance aligns with the Company Law, Securities Law, and relevant regulations, ensuring no harm to the interests of shareholders, especially minority shareholders [2][4]. - The proposal considers industry development trends and the company's actual situation, supporting the interests of all shareholders [2][3]. Group 2: Feasibility and Necessity - A feasibility analysis report has been prepared, demonstrating the necessity and feasibility of the A-share issuance based on the company's financial status and funding needs [3][4]. - The planned use of raised funds complies with national policies and the company's strategic planning, ensuring alignment with legal requirements [3][4]. Group 3: Shareholder Returns and Governance - The company has developed a three-year shareholder return plan (2025-2027) that balances sustainable development with reasonable returns for investors, particularly minority shareholders [4]. - The proposal for the issuance requires approval from the shareholders' meeting and regulatory bodies, ensuring adherence to governance protocols [4].

Group 1 - The company, Ningxia Dongfang Tantalum Industry Co., Ltd., plans to sign a construction contract with China Fifteenth Metallurgical Construction Group Co., Ltd. for the construction of a tantalum-niobium hydrometallurgy digital factory and the renovation of a tantalum-niobium pyrometallurgy smelting production line, with a total estimated price not exceeding 282 million RMB, including VAT [1][2][4] - The service period for the construction project is expected to be no more than 15 months, and the final contract price will be determined based on construction costs and bidding discounts [1][2] - The transaction is classified as a related party transaction due to both companies being under the same ultimate controlling entity, China Nonferrous Mining Group Co., Ltd. [1][2] Group 2 - The independent directors of the company have unanimously agreed to the related party transaction, which will be submitted for approval at the shareholders' meeting, with related parties abstaining from voting [2][6] - The construction services will be provided at specific locations in Ningxia, including the Dabaokou Industrial Park and the Shizuishan Economic and Technological Development Zone [4] - The payment for the services will be made monthly, with 90% of the payment based on the progress report, and the remaining 3% retained as a quality guarantee [5] Group 3 - The transaction is considered a normal business activity that aligns with the company's operational needs and follows principles of openness, fairness, and justice [4][6] - The company and China Fifteenth Metallurgical are independent legal entities, and this transaction will not adversely affect the company's independence [4][6] - The independent directors have confirmed that the transaction is fair and reasonable, with no harm to the interests of the company or its minority shareholders [6]

Core Viewpoint - The report details the fundraising activities and the utilization of proceeds by Ningxia Dongfang Tantalum Industry Co., Ltd, highlighting the total amount raised, the status of funds, and the actual investment projects undertaken with the raised capital [1][2]. Fundraising Details - The company raised a total of RMB 670,204,385.22 through the issuance of 59,281,818 shares at a price of RMB 11.38 per share, with the funds received on September 27, 2023 [1]. - As of March 31, 2025, the company had a remaining balance of RMB 149,907,012.98 from the raised funds, which constitutes 22.37% of the net amount raised [1][2]. Fund Utilization - The actual investment amount from the raised funds was RMB 521,263,566.21, resulting in a difference of RMB 14,894,080.00 compared to the committed investment amount of RMB 67,020,440.00 [1][2]. - The discrepancies in investment amounts are attributed to ongoing construction phases and cost optimization strategies [1][2]. Project Performance - The annual production line for 100 niobium superconducting cavities reached its intended operational status by December 2024, but as of March 31, 2025, it generated a cumulative benefit of RMB 707,300, which is below the promised benefit of RMB 1,381,800 by over 20% [2][3]. - The company has not experienced any changes in the investment projects funded by the previous fundraising efforts [1][2]. Comparison with Annual Reports - The actual use of funds aligns with the disclosures made in the company's periodic reports since 2023, confirming consistency in reporting [2].

Group 1 - The company plans to issue shares to specific investors, raising a total of no more than 1.2 billion yuan, with the actual number of shares to be determined after approval from the China Securities Regulatory Commission [1][2][3] - The controlling shareholder, China Nonferrous Mining Group Co., Ltd., intends to subscribe for 480 million yuan of the shares, fully in cash [1][2] - The issuance price will not be lower than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing date [6][7] Group 2 - The issuance constitutes a related party transaction as both the controlling shareholder and the company have a direct relationship [3][4] - The financial data of China Nonferrous Mining Group as of December 31, 2024, shows total assets of approximately 12.55 billion yuan and net profit of approximately 575.78 million yuan [3] - The financial data of the controlling shareholder, China Nonferrous (Ningxia) Oriental Group Co., Ltd., indicates total assets of approximately 504.70 million yuan and net profit of approximately 25.72 million yuan as of December 31, 2024 [4] Group 3 - The purpose of the fundraising is to enhance the company's market position in the tantalum and niobium application field, increase market share, and improve competitiveness [6][7] - The transaction will not change the company's control and will not adversely affect the company or minority shareholders [7][8] - The final issuance price will be determined based on the subscription results and will adhere to the relevant regulations set by the China Securities Regulatory Commission [5][6]

Core Viewpoint - The company has established a three-year shareholder return plan for 2025-2027 to enhance its dividend decision-making and regulatory mechanisms, ensuring a stable and transparent return to shareholders [1] Group 1: Factors Considered in the Shareholder Return Plan - The plan considers long-term sustainable development, analyzing operational performance, shareholder expectations, social capital costs, and external financing environments [1] - The company aims to create a systematic arrangement for profit distribution to maintain continuity and stability in its profit distribution policy [1] Group 2: Principles for Formulating the Shareholder Return Plan - The formulation of the plan adheres to relevant laws and regulations, balancing shareholder returns with the company's long-term development [2] - The profit distribution policy emphasizes reasonable returns to investors, ensuring continuity and stability [2] Group 3: Profit Distribution Policy - The company will distribute profits through cash, stock, or a combination of both, prioritizing cash dividends when operational and financial conditions allow [2] - Cash dividends will only be implemented if the company is profitable, has positive retained earnings, and meets specific financial conditions [2][3] Group 4: Conditions for Cash Dividends - Cash dividends are contingent upon the company achieving profitability, having sufficient retained earnings, and not having significant investment plans or cash expenditures exceeding 30% of the latest audited net assets [3] - The company plans to distribute cash dividends at least once a year, with a minimum of 10% of the current year's distributable profits or 30% of the average annual distributable profits over the last three years [3] Group 5: Differentiated Cash Dividend Policy - The board will consider industry characteristics, development stages, and significant capital expenditures to propose a differentiated cash dividend policy [3][4] - The minimum cash dividend proportions are set at 80%, 40%, and 20% for different scenarios [4] Group 6: Conditions for Stock Dividends - Stock dividends may be issued when revenue grows rapidly, and the board believes the stock price does not align with the capital structure, provided cash dividends are also distributed [4] Group 7: Protection of Public Investors - The company will deduct cash dividends from shareholders who have misappropriated company funds to repay the occupied amounts [4] Group 8: Profit Distribution Decision Mechanism - The board must discuss profit distribution plans with independent directors and obtain a two-thirds majority approval from the board and independent directors before presenting to the shareholders' meeting [4][5] Group 9: Communication with Shareholders - The company will actively communicate with shareholders, especially minority shareholders, to gather feedback on cash dividend proposals [5] Group 10: Adjustments to Profit Distribution Policy - Any modifications to the profit distribution policy must comply with laws and regulations and require approval from the shareholders' meeting [5] Group 11: Other Matters - The plan will be executed in accordance with relevant laws and regulations, with the board responsible for its interpretation [5]

Core Viewpoint - The company is issuing shares to specific investors, which will dilute immediate returns but has proposed measures to compensate for this dilution and ensure the protection of minority investors' interests [1][4]. Financial Impact - The total number of shares will increase from 50,496.83 million to 65,645.88 million after the issuance, with an estimated fundraising amount of 120,000 million [2][4]. - The basic earnings per share (EPS) are projected to decrease from 0.46 to 0.42 under a 10% net profit growth scenario, and further to 0.34 under a 0% growth scenario, and to 0.28 under a -10% growth scenario [3][4]. Necessity and Reasonableness of the Issuance - The fundraising aligns with industry development trends and the company's future plans, enhancing financial strength and profitability while optimizing capital structure [4][5]. Relationship of Fundraising Projects to Existing Business - The raised funds will be allocated to three construction projects and to supplement working capital, which are closely related to the company's main business and will enhance production scale and market share [5][6]. Measures to Mitigate Dilution of Immediate Returns - The company plans to accelerate project investment progress and improve the efficiency of fund usage to mitigate the dilution of immediate returns [7]. - A management plan for the raised funds has been established to ensure proper storage and usage, with ongoing supervision by the board [7]. - The company aims to enhance governance and cost management to improve operational efficiency and profitability [7][8]. Commitments from Major Stakeholders - The controlling shareholders and management have made commitments to ensure the effectiveness of measures to compensate for the dilution of immediate returns [9][10].

Fundraising Plan - The company plans to raise a total of up to 1.2 billion RMB through a private placement of A-shares, with the funds allocated to three construction projects and working capital [1] - The total investment for the projects is estimated at 1.37358 billion RMB, with 1.2 billion RMB sourced from the fundraising [1] Project Overview and Feasibility Analysis - The fundraising projects aim to support domestic economic circulation and ensure the security of national industrial chains, aligning with national development strategies [2][3] - The wet metallurgy project will produce key raw materials such as potassium fluotantalate and niobium oxide, essential for subsequent production processes in high-temperature alloys, semiconductors, and defense industries [2][3] - The projects are expected to optimize the product structure and upgrade the company's industrial capabilities, addressing the growing demand in the tantalum and niobium sector [2][3] Industry and Market Context - The projects are supported by national and local industrial policies that emphasize the development of rare metals and new materials, which are critical for various high-tech applications [5][6] - The company is positioned to meet the increasing market demand for high-value-added products in sectors like semiconductors and aerospace, enhancing its competitive edge [4][7] Financial Projections - The company anticipates a compound annual growth rate (CAGR) of 10% in revenue over the next three years, with projected revenues of approximately 1.41 billion RMB in 2025 and 1.70 billion RMB in 2027 [16][18] - The fundraising will also address the projected working capital gap of 232.66 million RMB from 2025 to 2027, ensuring sufficient liquidity for operations [19][20] Operational Impact - The fundraising projects are expected to enhance the company's operational capabilities, improve financial stability, and reduce financial risk by optimizing the capital structure [20][21] - The implementation of these projects will solidify the company's market position and support long-term sustainable growth [21]

证券代码：000962 证券简称：东方钽业 公告编号：2025-061号 宁夏东方钽业股份有限公司 本次预案披露事项不代表审批机关对于本次发行股票相关事项 的实质性判断、确认或批准，预案所述本次向特定对象发行股票相关 事项的生效和完成尚需完成国有资产监管审批、公司股东大会审议通 过、深圳证券交易所审核通过及中国证监会的同意注册等程序，敬 请广大投资者注意投资风险。 特此公告。 宁夏东方钽业股份有限公司董事会 2025年6月24日 关于2025年度向特定对象发行A股股票预案披露的提示 性公告 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。 宁夏东方钽业股份有限公司（以下简称"公司"）于2025年6月22 日召开第九届董事会第二十二次会议及第九届监事会第十二次会议， 审议通过了关于公司2025年度向特定对象发行A股股票的相关议案。 《宁夏东方钽业股份有限公司2025年度向特定对象发行A股股票预案》 已于2025年6月24日在巨潮资讯网（http://www.cninfo.com.cn）披 露，相关公告及文件敬请投资者查阅。 ...

证券代码：000962 证券简称：东方钽业 公告编号：2025-053 号 宁夏东方钽业股份有限公司 2025 年度向特定对象发行股票方案 论证分析报告 二〇二五年六月 | 释义 | 3 | | --- | --- | | 一、本次发行的背景和目的 | 4 | | （一）本次向特定对象发行股票的背景 | 4 | | （二）本次向特定对象发行股票的目的 | 6 | | 二、本次发行证券及其品种选择的必要性 | 6 | | （一）本次发行证券的品种 | 6 | | （二）本次发行证券品种选择的必要性 | 7 | | 三、本次发行对象的选择范围、数量和标准的适当性 | 7 | | （一）发行对象的选择范围的适当性 | 7 | | （二）本次发行对象的数量的适当性 | 8 | | （三）本次发行对象的标准的适当性 | 8 | | 四、本次发行定价的原则、依据、方法和程序的合理性 | 8 | | （一）本次发行定价的原则和依据 | 8 | | （二）本次发行定价的方法和程序 | 9 | | 五、本次发行方式的可行性 | 10 | | （一）发行方式合法合规 | 10 | | （二）确定发行方式的程序合法合规 | 13 ...

证券代码：000962 证券简称：东方钽业 公告编号：2025-050 号 宁夏东方钽业股份有限公司 2025 年度向特定对象发行 A 股股票预案 二〇二五年六月 宁夏东方钽业股份有限公司 2025 年度向特定对象发行 A 股股票预案 发行人声明 1、本公司及董事会全体成员保证本预案内容真实、准确、完整，不存在虚 假记载、误导性陈述或重大遗漏。 2、本次发行股票完成后，公司经营与收益的变化，由公司自行负责。因本 次发行股票引致的投资风险，由投资者自行负责。 3、公司本次发行股票预案是公司董事会对本次发行股票的说明，任何与之 相反的声明均属不实陈述。 4、投资者如有任何疑问，应咨询自己的股票经纪人、律师、专业会计师或 其他专业顾问。 5、本预案所述事项并不代表审批机关对于本次发行股票相关事项的实质性 判断、确认及批准，本预案所述本次发行股票相关事项的生效和完成尚待深交 所审核通过并经中国证监会同意注册。 6、本预案按照《上市公司证券发行注册管理办法》等法规及规范性文件的 要求编制。 1 宁夏东方钽业股份有限公司 2025 年度向特定对象发行 A 股股票预案 特别提示 本部分所述词语或简称与本预案"释义"所述词语 ...