Group 1 - The company holds a 6.7813% stake in Xianghualing Tin Industry through its wholly-owned subsidiary Hunan Dazhong He Lithium Mining Co., Ltd [2] - The company has appointed one director to represent its interests in Xianghualing Tin Industry [2] - The mineral rights held by Xianghualing Tin Industry have potential for lithium exploration, and the company will consider acquiring additional shares based on market conditions and transaction terms [2]

Core Viewpoint - The company currently owns three shield tunneling machines, which can be reused after maintenance [1] Group 1 - The company has a total of three shield tunneling machines: one in Hunan and two in Sichuan [1] - The shield tunneling machines can be reused after undergoing maintenance [1]

Market Overview - On September 22, the steel raw materials sector declined by 0.6% compared to the previous trading day, with Dazhong Mining leading the decline [1] - The Shanghai Composite Index closed at 3828.58, up 0.22%, while the Shenzhen Component Index closed at 13157.97, up 0.67% [1] Individual Stock Performance - The closing prices and performance of key stocks in the steel raw materials sector are as follows: - Erdos (600295): Closed at 9.77, up 0.31%, with a trading volume of 51,900 lots and a turnover of 50.6973 million yuan [1] - Hebei Steel Resources (000923): Closed at 15.36, down 0.07%, with a trading volume of 112,000 lots and a turnover of 171 million yuan [1] - Dazhong Mining (001203): Closed at 11.74, down 1.59%, with a trading volume of 115,500 lots and a turnover of 135 million yuan [1] Capital Flow Analysis - The steel raw materials sector experienced a net outflow of 59.8056 million yuan from main funds, while retail investors saw a net inflow of 51.9718 million yuan [1] - The capital flow for individual stocks indicates varying trends, with significant net outflows for several companies: - Dazhong Mining (001203): Net outflow of 14.8846 million yuan from main funds [2] - Hebei Steel Resources (000923): Net outflow of 8.3244 million yuan from main funds [2] - Erdos (600295): Net outflow of 2.7856 million yuan from main funds [2]

Group 1 - The company currently owns mining projects located domestically, with iron ore distributed in Inner Mongolia and Anhui, and lithium ore in Sichuan and Hunan [2] - The company's mineral projects are not affected by the geopolitical situation in the Middle East [2]

Group 1 - The company, Dazhong Mining, announced its acquisition decision for the Sichuan Jiada Lithium Mine is based on long-term strategic planning and rigorous technical-economic assessments [2] - The first mining area has a recorded resource amount of 148.42 thousand tons of lithium carbonate equivalent, with an average lithium oxide grade of 1.38% [2] - The exploration area for the Sichuan Jiada Lithium Mine is 21.2247 square kilometers, with the currently recorded first mining area only covering 2.056 square kilometers, indicating significant future resource expansion potential [2] Group 2 - The company holds 100% ownership of the exploration rights for the Jijia Mountain Lithium Mine, with no additional payment obligations [2]

Core Viewpoint - The company has developed a new lithium extraction process using sulfuric acid, which significantly reduces costs and environmental impact compared to traditional methods [2] Group 1: Advantages of the New Process - Lithium slag reduction: The new process reduces lithium slag by 50%, and harmful elements like beryllium and thallium meet Class I solid waste standards, allowing for broader applications in construction and road building [2] - Increased lithium recovery rate: The recovery rate of lithium reaches 90%, showcasing a substantial improvement over previous methods [2] - Comprehensive utilization of valuable metals: The process allows for the simultaneous recovery of potassium and other metals, promoting a circular economy model of "multiple products from one mine" [2] - Lower costs: The comprehensive cost of extracting and refining one ton of lithium carbonate has been significantly reduced [2]

Group 1 - The company holds 100% exploration rights for the Jijia Mountain mining area, which will be independently developed and operated by its wholly-owned subsidiary, Hunan Dazhong He Lithium Mining Company [2] - Since 2022, the company has been expanding its lithium mining operations in Hunan and acquired 80% control of Chenzhou Chengtai at a low cost in April 2023, later obtaining 100% ownership through bankruptcy reorganization [2] - The total cost for acquiring the exploration rights for the Jijia Mountain lithium mine was 209 million yuan, providing a significant cost advantage [2]

Group 1 - The company Dazhong Mining stated on September 19 that the Xianghualing Tin Industry is located in a large mining area with various types of resources, and specific details should be based on professional geological survey reports [2]

Core Viewpoint - The company is making significant progress in the construction of the Jijia Mountain lithium mine in Hunan, aiming for full-scale operations by the first half of 2025, with various approvals and advancements already achieved [2]. Group 1: Project Development - The company has completed the resource reserve assessment for the Jijia Mountain lithium mine, which is recognized as the largest lithium mine in terms of lithium carbonate equivalent approved by the Ministry of Natural Resources [2]. - The company has also completed the review and approval of the "Mineral Resource Development and Utilization Plan," with a mining scale of 20 million tons per year, marking it as the largest raw ore mining scale approved by the Ministry [2]. - The geological environmental protection and land reclamation plan has been reviewed and approved, and the transition from exploration to mining is currently under review by the Ministry [2]. Group 2: Mining and Transportation - The company has determined the mining development system and transportation plan, successfully completing a 7.3-kilometer shield tunneling transportation corridor and access roads for mining, providing a foundational guarantee for subsequent mining construction [2]. Group 3: Processing and Recovery - The company has obtained planning permission for construction land and is concurrently processing other necessary construction permits [2]. - A technical team has been established to complete the pilot test of the new lithium extraction process using sulfuric acid, achieving breakthroughs in environmental compliance for lithium extraction from lepidolite and significantly improving lithium recovery rates to 90% [2]. - The comprehensive recovery of valuable elements has substantially reduced production costs [2].

Group 1 - The company adopts a sales strategy based on market demand, determining production through annual long-term contracts to secure sales volume [2] - Pricing for sales is primarily referenced against the 62% iron ore Platts index and is adjusted periodically based on market indicators [2] - This approach ensures a stable long-term supply relationship while allowing the company to better follow market price fluctuations [2]