Financial Performance - The company's revenue for Q3 2025 reached ¥4,164,330,133.19, an increase of 15.62% compared to the same period last year[4] - Net profit attributable to shareholders decreased by 57.79% to ¥41,058,647.46, while the net profit after deducting non-recurring gains and losses fell by 60.05% to ¥39,780,754.02[4] - The company's basic earnings per share decreased by 69.86% to ¥0.0733, while diluted earnings per share fell by 69.98% to ¥0.0730[4] - The company's total revenue for the current period is CNY 10,707,161,911.93, up from CNY 9,139,667,026.08 in the previous period, representing an increase of approximately 17.2%[24] - The total profit for the current period is 221,051,691.21 CNY, compared to 226,509,758.34 CNY in the previous period, reflecting a decrease of approximately 2.03%[25] - The net profit attributable to shareholders of the parent company is 200,314,857.54 CNY, an increase of 10.00% from 180,914,429.32 CNY in the previous period[25] - The basic earnings per share decreased to 0.3577 CNY from 0.4523 CNY, representing a decline of approximately 20.93%[25] Cash Flow and Assets - The operating cash flow net amount for the year-to-date period was ¥67,882,433.82, representing a significant decline of 89.04%[4] - The company's cash and cash equivalents decreased to CNY 785,263,142.47 from CNY 1,105,985,298.35 at the beginning of the period, a decline of approximately 29%[20] - The ending cash and cash equivalents balance is 272,438,556.45 CNY, down from 450,894,456.11 CNY, indicating a decline of about 39.58%[27] - Cash inflows from operating activities totaled 12,259,280,259.20 CNY, up from 10,448,401,085.83 CNY, indicating a growth of about 17.33%[27] - The net cash flow from operating activities is 67,882,433.82 CNY, significantly lower than 619,372,488.21 CNY in the previous period, a decrease of approximately 89.05%[27] - Cash outflows from investing activities amounted to 712,202,495.67 CNY, compared to 1,403,185,804.15 CNY in the previous period, a reduction of about 49.32%[27] - The net cash flow from financing activities decreased by 44.38% to ¥253,428,897.45, attributed to a decline in cash received from borrowings[9] Shareholder Information - The total number of common shareholders at the end of the reporting period is 16,678[11] - Major shareholders include Sun Yanjun and He Xuejuan, each holding 35.81% (201,600,000 shares) of the company[11] - The company plans to distribute a cash dividend of 1.3 RMB per 10 shares, totaling 52,273,101.14 RMB (including tax) based on a total share capital of 402,100,778 shares as of December 31, 2024[15] - The company will increase its share capital by 4 shares for every 10 shares held, using capital reserves, with the implementation completed by July 2025[15] - The number of restricted shares held by Sun Yanjun and He Xuejuan is 201,600,000, with a release date set for March 21, 2027[13] - Ningbo Qifei Investment Management Partnership holds 2.00% (11,257,848 shares) of the company[11] - The company has a total of 305,413,907 restricted shares, with 6,206,463 shares released during the reporting period[14] - The company has a total of 9,199,996 unrestricted shares held by Wang Anbang[12] - The company has a total of 2,090,778 shares under the equity incentive plan, with 836,311 shares released during the reporting period[14] - The company plans to repurchase and cancel a total of 989,086 shares of restricted stock from the 2024 incentive plan due to unmet performance targets and employee departures[16] - As of the report date, the cancellation procedures for the 989,086 shares of restricted stock have not been completed[17] Liabilities and Investments - Total assets at the end of the reporting period were ¥13,099,627,580.89, reflecting a 4.16% increase from the end of the previous year[4] - Total liabilities increased to CNY 8,160,462,674.12 from CNY 7,830,655,277.96[22] - The company recorded a loss of ¥10,283,764.81 in investment income, primarily due to losses in futures business[9] - The company reported a net loss from investment activities of CNY 10,283,764.81, an improvement from a loss of CNY 52,685,421.41 in the previous period[24] Inventory and Operating Costs - The company's inventory increased to CNY 4,923,573,753.71 from CNY 4,123,452,128.18, representing a growth of about 19.4%[20] - Total operating costs for the current period are CNY 10,446,484,327.33, compared to CNY 8,748,024,127.92 in the previous period, reflecting an increase of about 19.4%[24] Accounting and Audit - The company did not conduct an audit for the third quarter financial report[28] - The company plans to implement new accounting standards starting in 2025[28]

证券代码：301500 证券简称：飞南资源 公告编号：2025-061 广东飞南资源利用股份有限公司 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、董事会会议召开情况 广东飞南资源利用股份有限公司（以下简称公司）第三届董事会第三次会议 于 2025 年 10 月 28 日在公司会议室以现场结合通讯方式召开。本次会议的通知 已于 2025 年 10 月 24 日以电子邮件的方式送达全体董事。会议应出席董事 9 人， 实际出席董事 9 人。会议由董事长孙雁军先生主持召开，公司高级管理人员列席 会议。本次会议的召开符合法律、行政法规、部门规章、规范性文件和《广东飞 南资源利用股份有限公司章程》的规定。 二、董事会会议审议情况 （一）审议通过了《关于 2025 年第三季度报告的议案》 董事会认为：公司 2025 年第三季度报告符合法律、行政法规，报告内容真 实、准确、完整地反映了公司 2025 年第三季度的经营情况，不存在虚假记载、 误导性陈述或者重大遗漏。 第三届董事会第三次会议决议公告 具体内容详见公司同日在巨潮资讯网（http://www.cninfo.c ...

Core Viewpoint - Feinan Resources experienced a stock price increase of 0.87%, closing at 17.41 yuan, with a significant block trade occurring on October 21, 2023 [1] Trading Activity - A total of 200,000 shares were traded in a block transaction, amounting to 2.762 million yuan [1] - The first transaction price was 13.81 yuan for 200,000 shares, resulting in a premium rate of -20.68% [1] - The buyer and seller for this transaction were both from CITIC Securities Co., Ltd. Beijing Wanliu Securities Branch [1] Recent Performance - Over the past three months, Feinan Resources has recorded three block trades with a total transaction value of 8.7735 million yuan [1] - In the last five trading days, the stock has declined by 3.01%, with a total net outflow of 43.3329 million yuan from major funds [1]

Core Insights - Feinan Resources experienced a 5.04% increase in stock price, reaching 17.08 CNY per share, with a trading volume of 146 million CNY and a turnover rate of 6.24%, resulting in a total market capitalization of 9.615 billion CNY [1] Company Overview - Feinan Resources Co., Ltd. is located in Nanhai District, Foshan City, Guangdong Province, and was established on August 22, 2008, with its listing date on September 21, 2023 [1] - The company's main business involves hazardous waste disposal and recycling of non-ferrous metal waste, with revenue composition as follows: 99.51% from resource sales, 0.28% from hazardous waste disposal, and 0.21% from other sources [1] Fund Holdings - The Jiao Yin Schroder Fund has a significant holding in Feinan Resources, with the Jiao Yin CSI Environmental Governance Index (LOF) A (164908) reducing its stake by 17,700 shares in Q2, now holding 140,600 shares, which constitutes 1.94% of the fund's net value, ranking it as the eighth largest holding [2] - The fund has achieved a year-to-date return of 17.7%, ranking 2877 out of 4221 in its category, and a one-year return of 43.04%, ranking 1854 out of 3836 [2] Fund Manager Performance - The fund manager of Jiao Yin CSI Environmental Governance Index (LOF) A is Shao Wenting, who has been in the position for 4 years and 154 days, managing a total asset size of 12.623 billion CNY [3] - During the manager's tenure, the best fund return was 52.64%, while the worst return was -25.59% [3]

Core Insights - Feinan Resources experienced a 5.04% increase in stock price, reaching 17.08 CNY per share, with a trading volume of 146 million CNY and a turnover rate of 6.24%, resulting in a total market capitalization of 9.615 billion CNY [1] Company Overview - Feinan Resources Co., Ltd. is located in Nanhai District, Foshan City, Guangdong Province, and was established on August 22, 2008, with its listing date on September 21, 2023 [1] - The company's main business involves hazardous waste disposal and recycling of non-ferrous metal resources, with revenue composition as follows: 99.51% from resource sales, 0.28% from hazardous waste disposal, and 0.21% from other sources [1] Fund Holdings - One fund under Huatai PineBridge has a significant holding in Feinan Resources, specifically the Huatai PineBridge CSI Environmental Governance Index (LOF) A (501030), which reduced its holdings by 34,400 shares in Q2, now holding 292,600 shares, representing 1.95% of the fund's net value, ranking as the eighth largest holding [2] - The fund has achieved a year-to-date return of 18%, ranking 2837 out of 4221 in its category, and a one-year return of 44.01%, ranking 1813 out of 3836 [2] Fund Manager Performance - The fund manager of Huatai PineBridge CSI Environmental Governance Index (LOF) A is Luo Hao, who has been in the position for 1 year and 19 days, managing assets totaling 3.098 billion CNY [3] - During his tenure, the best fund return was 86.05%, while the worst return was -7.35% [3]

Core Viewpoint - The company focuses on hazardous waste disposal and recycling of non-ferrous metals, establishing a comprehensive industrial loop for multi-metal resource recovery, enhancing its core competitiveness [2]. Company Overview - The company is engaged in hazardous waste disposal and recycling of non-ferrous metals [2]. - It has developed a complete industrial loop for the comprehensive recovery and utilization of multi-metal resources, including copper, nickel, zinc, tin, gold, silver, and palladium [2]. Financial Reporting - The company's 2025 semi-annual report does not include details on the cost of gold recovery and extraction [2]. - The complete version of the 2025 semi-annual report can be accessed through the company's designated information disclosure media [2].

Core Viewpoint - The gold concept sector leads the market with a rise of 2.69%, indicating strong investor interest and potential growth in this area [1] Group 1: Company Performance - Northern Copper Industry increased by 10.01%, showcasing significant gains and investor confidence [1] - Luoyang Molybdenum Industry rose by 9.27%, reflecting positive market sentiment [1] - Jiangxi Copper Industry saw an increase of 7.64%, contributing to the overall sector performance [1] - Tongling Nonferrous Metals and Feinan Resources both experienced gains exceeding 6%, indicating a broader trend of growth within the sector [1] - Yunnan Copper Industry also reported a rise of over 6%, further supporting the bullish outlook for the gold concept sector [1]

Group 1 - The company Guangdong Feinan Resource Utilization Co., Ltd. has signed a maximum guarantee contract with Guangzhou Bank Foshan Branch, providing a joint liability guarantee for a financing application of 250 million yuan [2][3] - The guarantee period is three years from the expiration of the debt performance period [5] - The guarantee does not involve related transactions and there are no counter-guarantees [3] Group 2 - The main debtor is Guangdong Feinan Resource Utilization Co., Ltd., and the guarantor is its wholly-owned subsidiary, Jiangxi Feinan Environmental Protection Technology Co., Ltd. [4] - The company operates in industrial waste disposal and comprehensive utilization, as well as processing and sales of non-ferrous and precious metals [4] - The registered capital of the company is approximately 402.1 million yuan [4] Group 3 - The total amount of guarantees provided by the company and its subsidiaries is 5 billion yuan, with a total balance of 1.669 billion yuan, accounting for 36.94% of the net assets attributable to ordinary shareholders for 2024 [7] - There are no overdue guarantees or guarantees involving litigation [7] - The financing is necessary for daily operations and aligns with the company's overall development strategy [7]

证券代码：301500 证券简称：飞南资源 公告编号：2025-060 广东飞南资源利用股份有限公司 关于全资子公司江西飞南对母公司提供担保的公告 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、担保情况概述 二、被担保人基本情况 1、公司名称：广东飞南资源利用股份有限公司 2、统一社会信用代码：914412847665669483 3、住所：四会市罗源镇罗源工业园 4、企业类型：股份有限公司（上市） 5、法定代表人：孙雁军 6、注册资本：人民币 40,210.0778 万元 根据实际经营需要，广东飞南资源利用股份有限公司（以下简称公司、母公 司）全资子公司江西飞南环保科技有限公司（以下简称江西飞南）近日与广州银 行股份有限公司佛山分行签署了《最高额保证合同》，对母公司向该行申请融资 提供连带责任保证，江西飞南担保的最高债权本金为 2.5 亿元，保证期间为债务 履行期限届满之日起三年。 本次担保事项为公司全资子公司江西飞南对母公司提供担保，已经江西飞南 股东决定通过，无需提交公司董事会和股东会审议。 本次担保事项不属于关联交易，也不存在反担保的情形。 1、 ...

Group 1 - The core viewpoint of the news highlights the trading performance and financial metrics of Feinan Resources, indicating a significant increase in revenue and net profit, alongside high financing levels [1][2]. Group 2 - On September 23, Feinan Resources experienced a decline of 1.36% in stock price, with a trading volume of 110 million yuan. The financing buy-in amounted to 17.24 million yuan, while the financing repayment was 15.17 million yuan, resulting in a net financing buy of 2.07 million yuan. The total financing and securities balance reached 106 million yuan [1]. - The financing balance of Feinan Resources is 106 million yuan, accounting for 4.59% of the circulating market value, which is above the 90th percentile level over the past year, indicating a high level of financing activity [1]. - As of June 30, the number of shareholders for Feinan Resources was 11,100, a decrease of 8.93% from the previous period, while the average circulating shares per person increased by 9.81% to 9,023 shares [2]. - For the first half of 2025, Feinan Resources reported an operating income of 6.543 billion yuan, representing a year-on-year growth of 18.14%, and a net profit attributable to shareholders of 159 million yuan, reflecting a substantial increase of 90.39% [2]. - Since its A-share listing, Feinan Resources has distributed a total of 52.27 million yuan in dividends [3].