（编辑 楚丽君） 证券日报网讯 11月7日晚间，高争民爆发布公告称，乐勇建先生因工作调动原因，现申请辞去公司第四 届董事会董事、董事长及战略委员会委员、提名委员会委员、科学技术委员会委员等职务，乐勇建先生 原定任期至2027年08月25日，其辞职未导致公司董事会成员低于法定最低人数，不会影响公司董事会的 正常运作和公司正常经营，其书面辞职报告自送达公司时生效。辞职生效后，乐勇建先生不再担任公司 及子公司的任何职务。截至公告披露日，乐勇建先生未持有本公司股票并依规接受离任审计。 ...

证券代码：002827 证券简称：高争民爆 公告编号：2025-057 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 西藏高争民爆股份有限公司（以下简称"公司"或"本公司"）董事会于近日收 到公司董事乐勇建先生的书面辞职报告，具体情况如下： 乐勇建先生因工作调动原因，现申请辞去公司第四届董事会董事、董事长及 战略委员会委员、提名委员会委员、科学技术委员会委员等职务，乐勇建先生原 定任期至 2027 年 08 月 25 日，其辞职未导致公司董事会成员低于法定最低人数， 不会影响公司董事会的正常运作和公司正常经营，其书面辞职报告自送达公司时 生效。辞职生效后，乐勇建先生不再担任公司及子公司的任何职务。截至公告披 露日，乐勇建先生未持有本公司股票并依规接受离任审计。 公司董事会对乐勇建先生在担任公司董事期间的勤勉尽责表示衷心感谢！公 司将按照《公司法》和《公司章程》等有关规定，尽快完成董事补选和相关后续 工作。 西藏高争民爆股份有限公司董事会 2025 年 11 月 8 日 1 西藏高争民爆股份有限公司 关于公司董事辞职的公告 ...

Core Viewpoint - The company announced the resignation of its director and chairman, Le Yongjian, due to work relocation, effective immediately upon delivery of the resignation letter [1] Group 1 - Le Yongjian has resigned from all positions within the company and its subsidiaries, including director of the fourth board, chairman, and various committee memberships [1] - The resignation does not result in the board having fewer members than the legal minimum [1] - As of the announcement date, Le Yongjian did not hold any shares in the company and has complied with the departure audit requirements [1]

Core Viewpoint - The company announced the resignation of its chairman, Le Yongjian, due to work relocation, effective immediately upon delivery of his resignation letter [1] Group 1 - Le Yongjian has resigned from his positions as a director and chairman of the board of the company [1] - Following his resignation, he will no longer hold any positions within the company or its subsidiaries [1] - The company will expedite the process of selecting a new director in accordance with the Company Law and its Articles of Association [1]

Core Points - The company, Gaozheng Mining Explosives (002827), reported that as of October 31, the number of shareholders reached 46,232 [1] Summary by Category Company Information - Gaozheng Mining Explosives has a total of 46,232 shareholders as of the end of October [1]

Core Viewpoint - Gaozheng Minbao, a leading civil explosives company in Tibet, has shown growth in revenue and profitability but remains below industry leaders in terms of overall performance metrics [2][5]. Group 1: Company Overview - Gaozheng Minbao was established on June 8, 2007, and listed on the Shenzhen Stock Exchange on December 9, 2016, with its headquarters in Lhasa, Tibet [1]. - The company is a subsidiary of the Tibet State-owned Assets Supervision and Administration Commission and dominates the local civil explosives market [1]. Group 2: Financial Performance - For Q3 2025, Gaozheng Minbao reported revenue of 1.26 billion yuan, ranking 10th in the industry, significantly lower than the top competitor, Guangdong Hongda, which had 14.55 billion yuan [2]. - The company's net profit for the same period was 133 million yuan, placing it 11th in the industry, again trailing behind Guangdong Hongda's 1.19 billion yuan [2]. - The main business segments include blasting services, which accounted for 378 million yuan (48.97%), and industrial explosives, contributing 171 million yuan (22.20%) to total revenue [2]. Group 3: Financial Ratios - As of Q3 2025, Gaozheng Minbao's debt-to-asset ratio was 57.23%, slightly improved from 58.27% year-on-year but still above the industry average of 44.44%, indicating higher debt pressure [3]. - The gross profit margin for the same period was 29.32%, an increase from 26.91% year-on-year, and above the industry average of 28.51%, suggesting improved profitability [3]. Group 4: Management Compensation - The chairman, Le Yongjian, received a salary of 2.1295 million yuan in 2024, an increase of 890,900 yuan from 2023 [4]. - The general manager, Basang Denzhu, earned 2.131 million yuan in 2024, also reflecting a significant increase from the previous year [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 1.76% to 48,100, while the average number of shares held per shareholder increased by 1.79% to 5,738.16 [5]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which is a new entrant holding 1.0253 million shares [5].

Core Points - Lhasa is positioning its digital economy as one of its three pillar industries, aiming to enhance regional competitiveness through a dual approach of "bringing in" and "going out" [2][12] - The digital economy in Lhasa has shown significant growth, with revenue from digital economy enterprises reaching 5.753 billion yuan from January to August 2025, and the number of such enterprises totaling 35, accounting for 58.33% of the total in Tibet [1][2] - The establishment of a regional international communication business outlet and the completion of a national internet backbone connection point are key developments in Lhasa's digital infrastructure [1][2] Digital Infrastructure Development - Lhasa has built a data center with an investment of 739 million yuan, which is the only A-level data center in Tibet, designed to support the next generation of low-carbon intelligent data centers [3] - The city has established 7,486 5G base stations, achieving a 98.7% coverage rate in administrative villages [1][3] - The "Future Network Plateau Innovation Laboratory" was established in May 2023 to foster collaboration in digital industries between Lhasa and Jiangsu [1][2] Industry Transformation and Digitalization - Traditional industries in Lhasa are embracing digital transformation, with companies like Tibet Huatai Long Mining developing smart mining plans with an investment of approximately 330 million yuan [5] - The Lhasa Economic Development Zone is actively promoting digital transformation among enterprises, enhancing their market competitiveness and contributing to sustainable economic development [4][5] Government Initiatives and Policies - Lhasa's government has implemented a "1+6+N" policy framework to support businesses, providing comprehensive assistance in areas such as funding, space, cost reduction, and talent support [9][10] - The "Galsang Flower Action" plan offers 71 targeted policies to assist enterprises in areas like listing and financial support [9][10] - The city has signed cooperation agreements with multiple companies, totaling nearly 3 billion yuan, to strengthen the foundation for digital economic development [8][12] Clean Energy and Cost Advantages - Lhasa's clean energy projects, such as the 200 MW photovoltaic power generation project, are crucial for providing low-cost electricity to support digital economy initiatives [11][12] - The city benefits from natural conditions that lower operational costs for data centers, including low temperatures that reduce cooling expenses [12] Future Outlook - Lhasa aims to integrate into the national "East Data West Computing" strategy and advance its "Digital Prosperity City" initiative, focusing on high-quality development of the digital economy [12] - The government plans to enhance the overall digital transformation across various sectors, including economy, politics, culture, society, and ecology [12]

Core Viewpoint - The report from Tianfeng Securities indicates that Gaozheng Minexplosion achieved a net profit attributable to shareholders of 126 million and a non-recurring net profit of 114 million in Q1-Q3 of 2025, representing year-on-year increases of 13.68% and 15.7% respectively [1] Financial Performance - In Q3 of 2025, the company reported a net profit attributable to shareholders of 57 million and a non-recurring net profit of 52 million, with year-on-year changes of +1.83% and -3.08% respectively [1] - The company has adjusted its forecast for net profit attributable to shareholders for 2025-2027 to 210 million, 310 million, and 440 million, down from previous estimates of 270 million, 390 million, and 570 million [1] Industry Outlook - As a leading player in civil blasting under the Tibet State-owned Assets Supervision and Administration Commission, the company is expected to benefit significantly from the construction of the Yaxia Hydropower Station, mining activities, and high demand in railway infrastructure [1]

Core Viewpoint - The report from Tianfeng Securities indicates that Gaozheng Minexplosion achieved a net profit attributable to shareholders of 126 million and a net profit excluding non-recurring items of 114 million in Q1-Q3 of 2025, representing year-on-year increases of 13.68% and 15.7% respectively [1] Group 1 - In Q3 of 2025, the company reported a net profit attributable to shareholders of 57 million and a net profit excluding non-recurring items of 52 million, showing year-on-year growth of 1.83% and a decline of 3.08% respectively [1] - As a leading civil explosives company under the Tibet State-owned Assets Supervision and Administration Commission, the company is expected to benefit significantly from the construction of the Yaxia Hydropower Station, mining operations, and high demand in railway infrastructure [1] - Based on the actual operating conditions in the first three quarters, the firm has revised down its forecast for the company's net profit attributable to shareholders for 2025-2027 to 210 million, 310 million, and 440 million respectively, compared to previous estimates of 270 million, 390 million, and 570 million [1] - The rating for the company remains at "Buy" [1]

Investment Rating - The report maintains an "Accumulate" rating for the company [1][6] Core Views - The company has shown steady profit growth, with a revenue of 1.26 billion and a net profit of 0.57 billion in Q3 2025, reflecting year-on-year increases of 7.53% and 13.68% respectively [1] - The company is expected to benefit from high demand in the civil blasting industry due to ongoing infrastructure projects in Tibet, including the Yarlung Tsangpo River hydropower project and major mining operations [3] - The report has adjusted the projected net profit for 2025-2027 to 2.1 billion, 3.1 billion, and 4.4 billion respectively, down from previous estimates [1] Financial Performance - For the first three quarters of 2025, the company achieved a gross margin of 29.32%, an increase of 2.42 percentage points year-on-year [2] - The net profit margin for the same period was 10.58%, up by 0.65 percentage points year-on-year, with a significant increase in cash flow from operations to 2.01 billion, a rise of 1.76 billion year-on-year [2] - The company’s revenue is projected to grow from 1.55 billion in 2023 to 2.90 billion in 2027, with a compound annual growth rate of 21.46% [5] Industry Outlook - The civil blasting industry in Tibet is experiencing high growth, with a production value increase of 26.9% year-on-year, significantly outpacing the national average [3] - Major projects such as the Yarlung Tsangpo River hydropower project and the second phase of the Jilong Copper Mine are expected to drive demand for blasting services [3] - The report highlights the ongoing construction of new railways and infrastructure projects in the region, further supporting the positive outlook for the company [3]