Group 1: Lithium Mining Projects - The Sichuan lithium project has a cost advantage due to high-grade spodumene ore and self-operated mining and selection [2] - The Hunan lithium project benefits from an integrated mining and smelting process, allowing for adjustments in concentrate grade and recovery rate based on market prices [2] - The Hunan project has a planned capacity of 2 million tons/year, producing 80,000 tons of lithium carbonate annually, with phased construction [3] Group 2: Capital Expenditure and Financing - The company plans to focus on exploration, mining, and selection for the Sichuan project without immediate plans for a smelting plant due to sufficient local smelting capacity [3] - The Hunan project investment scale has been disclosed in previous announcements, and the company currently has stable operating cash flow to support project construction [3] - There are no immediate plans for capital market financing; future needs will be assessed based on market conditions [3] Group 3: Iron Ore Production and Market Impact - The expected production of the Ximangdu iron mine may lead to downward price pressure in the market [4] - The company maintains strong cost control, with an average sales cost of iron concentrate at 374.11 RMB/ton and a gross margin of 54.79% [4] - Strategies to maintain profitability include a clear expansion plan and leveraging the quality of iron concentrate to enhance pricing power [5] Group 4: Technological Advancements - The company has made significant progress in the new lithium extraction process using sulfuric acid, achieving a lithium recovery rate of 90% and reducing waste by 50% [6] - The new process allows for the simultaneous recovery of valuable elements like potassium, enhancing overall production efficiency [6] - The extraction of by-products such as rubidium and cesium is integrated into the cost structure, although their sales have not yet been factored into cost reductions [6]

Core Viewpoint - The company announced that its stock experienced an abnormal fluctuation, with a cumulative closing price increase exceeding 20% over two consecutive trading days on October 29 and 30, 2025 [1] Company Information - The company confirmed that there are no corrections or supplements needed for previously disclosed information [1] - The recent production and operational conditions of the company remain normal, with no significant changes in the internal and external operating environment [1]

| 证券代码：001203 | 证券简称：大中矿业 | 公告编号：2025-118 | | --- | --- | --- | | 债券代码：127070 | 债券简称：大中转债 | | 大中矿业股份有限公司 股票交易异常波动公告 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、股票交易异常波动情况介绍 大中矿业股份有限公司（以下简称"公司"）股票（证券简称：大中矿业， 证券代码：001203）于 2025 年 10 月 29 日、2025 年 10 月 30 日连续 2 个交易日 收盘价格涨幅偏离值累计超过 20%，根据深圳证券交易所（以下简称"深交所"） 的有关规定，属于股票交易异常波动的情况。 二、公司关注及核实情况的说明 针对公司股票异常波动的情况，公司对有关事项进行了核查，并向公司控股 股东及实际控制人、公司管理层书面或通讯问询，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 本公司董事会确认，本公司目前没有任何根据深交所《股票上市规则》等有 关规定应予以披露而未披露的事项或与该事项有关的筹划、商谈、意向、协议等； 董事 ...

Core Viewpoint - The stock of Dazhong Mining experienced an abnormal trading fluctuation, with a cumulative price increase exceeding 20% over two consecutive trading days, prompting an inquiry into the situation [1] Company Summary - Dazhong Mining confirmed that there are no corrections or supplements needed for previously disclosed information [1] - The company's recent production and operational conditions are normal, with no significant changes in the internal or external business environment [1] - No undisclosed significant information that could impact the company's stock price has been identified in recent media reports [1] - The company, its controlling shareholders, and actual controllers have not engaged in buying or selling the company's stock during the abnormal trading period [1] - The board of directors confirmed that there are no undisclosed matters that should be disclosed, nor any information that could significantly affect the stock trading price [1] Industry Summary - The company cautioned investors about risks, particularly regarding its wholly-owned subsidiary, which has obtained a mining license for the Hunan Jijia Mountain lithium mine; however, uncertainties remain regarding the subsequent construction, production progress, and capacity realization [1]

Core Insights - The steel raw materials sector experienced a 2.1% increase on October 30, with Dazhong Mining leading the gains [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Sector Performance - Dazhong Mining (001203) saw a closing price of 17.73, with a significant increase of 9.99% and a trading volume of 434,100 shares, amounting to a transaction value of 763 million yuan [1] - Erdos (600295) also performed well, closing at 11.36 with a 9.97% increase, trading 233,500 shares for a total of 260 million yuan [1] - Other notable performers included Guangdong Mingzhu (600382) with a 1.22% increase and Baodi Mining (601121) with a 0.81% increase [1] Capital Flow Analysis - The steel raw materials sector experienced a net outflow of 278 million yuan from institutional investors, while retail investors contributed a net inflow of 237 million yuan [1] - Dazhong Mining had a net inflow of 37.71 million yuan from retail investors, despite a net outflow from institutional investors [2] - Erdos saw a net inflow of 58.37 million yuan from institutional investors, but also faced a net outflow from retail investors [2]

Market Overview - The market experienced fluctuations, with the Shanghai Composite Index falling below 4000 points, and both the Shenzhen Component and ChiNext Index dropping over 1% [1] - The lithium battery sector showed strength, with stocks like Tianqi Lithium and Tibet Urban Investment hitting the daily limit [1] - Quantum technology concepts remained active, with stocks such as Geer Software and Shenzhou Information also reaching the daily limit [1] - The overall market saw more declines than gains, with over 4000 stocks in the Shanghai and Shenzhen markets in the red, and a total transaction volume of 2.46 trillion [1] Hot Topics Lithium Battery - The lithium battery sector surged, with stocks like Dazhong Mining and Zhenhua Co. achieving consecutive limit-ups, and companies like Penghui Energy and Shida Shenghua also hitting the daily limit [4] - The catalyst for this surge was the continued rise in lithium carbonate futures, which have seen eight consecutive days of increases [4] - On October 30, the average price of lithium hexafluorophosphate was reported at 103,000 yuan per ton, up 2.49% from the previous trading day [4] Quantum Computing - The quantum computing sector saw renewed activity, with stocks like Geer Software and Shenzhou Information hitting the daily limit, and Guodun Quantum and Hexin Instruments rising over 10% [7] - According to a report, the global quantum computing industry is projected to grow from $5.037 billion in 2024 to $21.998 billion by 2030, with 2027-2029 being critical years for growth [9] - Investment focus is shifting towards the upstream components of quantum technology, including quantum chips and low-temperature cooling systems, which are seen as key technological barriers [7] Shipping - The shipping sector experienced a significant rise, with stocks like China Merchants Energy and COSCO Shipping hitting the daily limit [10] - The catalyst for this increase was a nearly 5% rise in the European line shipping index, reaching a new high since July, alongside the Baltic Dry Index (BDI) maintaining around 2000 points [10] - Several shipping companies, including MSC and CMA CGM, have announced price increases for important shipping routes starting November 1 [10]

Group 1 - The convertible bond market experienced a decline, with the Zhongzheng Convertible Bond Index falling by 0.86% to 484.44, and a total trading volume of 599.24 billion yuan [1] - A total of 403 convertible bonds were traded, with 45 increasing in value, 1 remaining flat, and 357 decreasing [1] - Notably, 12 convertible bonds saw an increase of over 2%, with Funi Convertible Bond (110099) rising by 40.63%, Dazhong Convertible Bond (127070) increasing by 18.76%, and Titan Convertible Bond (127096) up by 12.05% [1] Group 2 - Conversely, 64 convertible bonds experienced a decline of over 2%, with Shuiyang Convertible Bond (123188) dropping by 11.66%, Fuli Convertible Bond (118043) down by 5.72%, and Huanxu Convertible Bond (113045) falling by 4.9% [1] - Among the underlying stocks corresponding to the traded convertible bonds, 95 increased, 6 remained flat, and 302 decreased [1] - Specifically, 8 convertible bonds had underlying stocks that rose by over 5%, including Titan Co. (003036) hitting the daily limit with a 10.02% increase, Zhenhua Co. (603067) also reaching the limit with a 10.0% rise, and Dazhong Mining (001203) up by 9.99% [1]

Group 1 - Major Mining Company reached the daily limit increase in stock price [1] - Fangda Special Steel rose over 9% [1] - Other companies such as Erdos, New Steel, and Liugang also experienced stock price increases [1]

Core Viewpoint - The A-share market continues to see a rise in lithium mining stocks, driven by increased confidence in large-scale battery storage demand and supportive government policies [1] Group 1: Market Performance - Lithium mining stocks such as XINWANDA and DAZHONG MINING have seen significant gains, with XINWANDA rising over 10% and DAZHONG MINING hitting the daily limit of 10% [1] - Other notable performers include YONGXING MATERIALS up over 8%, JIANGTE MOTOR up over 6%, and several others rising between 3% to 5% [1][2] Group 2: Price Trends - The price of lithium carbonate has been increasing, with the most actively traded contracts on the Guangzhou Futures Exchange rising for five consecutive trading days, reaching a two-month high [1] - Despite the recent price increases, current lithium prices remain approximately 85% lower than the peak levels seen in 2022 [1] Group 3: Government Policies and Future Outlook - The Chinese government is implementing measures to expand energy storage system capacity and investment, aiming to double the capacity to 180 GW by 2027 to support intermittent wind and solar power generation [1] - This initiative is expected to drive up demand for lithium and other battery materials, alleviating previous concerns over price declines due to supply surplus [1]

Group 1 - The A-share market continues to see an upward trend in lithium mining stocks, with notable increases in companies such as XINWANDA (up over 10%) and DAZHONG MINING (10% limit up) [1] - The market is driven by increased confidence in large-scale battery storage demand, leading to a rise in lithium prices, with the most active lithium carbonate contracts on the Guangzhou Futures Exchange rising for five consecutive trading days [2][3] - The current spot market price of lithium has reached a two-month high, although it remains approximately 85% lower than the peak prices of 2022 [2] Group 2 - The Chinese government has implemented measures to expand energy storage system capacity and investment, including establishing compensation mechanisms to ensure sufficient energy storage during peak usage [3] - China plans to double its energy storage system capacity to 180 GW by 2027 to support intermittent wind and solar power generation, which is expected to drive up demand for battery materials like lithium [3]