Core Viewpoint - Feinan Resources (301500) announced an investment in a new energy materials project to extend its resource product supply chain, with a total investment of approximately 880 million yuan [1] Investment Details - The project will be undertaken by Feinan's wholly-owned subsidiary, Guangxi Feinan, focusing on the production of nickel sulfate and electroplated nickel from high ice nickel [1] - The funding for the project will come from Guangxi Feinan's own and self-raised funds [1] - The company has the flexibility to adjust specific investment content within the total investment limit based on the actual implementation of the project [1]

Group 1 - The core viewpoint of the article highlights the financial performance of Feinan Resources in Q3 2025, showing a revenue increase and a rise in net profit, despite a decrease in basic earnings per share [1] Group 2 - Feinan Resources reported a revenue of approximately 10.707 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 17.15% [1] - The net profit attributable to shareholders was around 200 million yuan, reflecting a year-on-year increase of 10.72% [1] - The basic earnings per share decreased to 0.3577 yuan, which is a year-on-year decline of 20.92% [1] - As of the report, Feinan Resources has a market capitalization of 10 billion yuan [2]

Core Viewpoint - The company plans to invest approximately 880 million yuan in a new energy materials project through its wholly-owned subsidiary, aiming to extend its resource product supply chain [1] Group 1: Investment Details - The total investment for the project is estimated at about 880 million yuan, funded by the subsidiary's own and self-raised funds [1] - The project will utilize high ice nickel to produce nickel sulfate and electrolytic nickel through various processes including leaching, extraction, evaporation crystallization, and electrolysis [2] Group 2: Project Specifications - The planned land area for the project is approximately 179 acres [2] - The production capacity includes 10,010.01 tons/year of electrolytic nickel plates, 45,045.05 tons/year of refined nickel sulfate, 1,800 tons/year of cathode copper, 1,477.87 tons/year of cobalt sulfate, and 29,288.27 tons/year of mirabilite [2] - Key construction components include various processing workshops, purification facilities, and environmental protection measures [2]

证券代码：301500 证券简称：飞南资源 公告编号：2025-064 广东飞南资源利用股份有限公司 关于举行 2025 年第三季度网上业绩说明会的公告 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。 广东飞南资源利用股份有限公司（以下简称公司）2025 年第三季度报告已 于 2025 年 10 月 29 日刊登于巨潮资讯网（http://www.cninfo.com.cn）。为便于 广大投资者更加全面深入地了解公司 2025 年第三季度经营业绩等情况，公司定 于 2025 年 11 月 5 日（星期三）15:00--17:00，在全景网提供的网上互动平台举 办 2025 年第三季度业绩说明会。本次业绩说明会将采用网络远程的方式举行， 投资者可登录全景网"投资者关系互动平台"（https://ir.p5w.net）参与互动 交流。 出席本次业绩说明会的人员有：公司董事长、总经理孙雁军先生，董事、董 事会秘书、财务总监李晓娟女士，独立董事钟敏先生，保荐代表人赵伟先生，具 体以当天实际参会人员为准。 为充分尊重投资者、提升交流的针对性，现就公司业绩说明会提前向投资 ...

广东飞南资源利用股份有限公司 关于全资子公司广西飞南投资建设新能源材料项目的公告 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。 特别提示： 1、本次投资项目的实施尚需向政府有关主管部门办理建设规划许可和施工 许可等前置审批手续，如因政策调整、项目审批等实施条件发生变化，项目实施 可能存在变更、延期或终止的风险。 2、本次投资项目涉及的投资金额、建设周期等为预估数，项目建设及生产 运营尚需要一定的周期，实施进度存在不确定性。 3、本次投资项目预计总投资约 8.8 亿元，资金来源为广东飞南资源利用股 份有限公司（以下简称公司）全资子公司广西飞南资源利用有限公司（以下简称 广西飞南）自有及自筹资金。若资金筹措未顺利到位，可能影响项目实施进度。 证券代码：301500 证券简称：飞南资源 公告编号：2025-063 一、对外投资概述 为进一步延长资源化产品产业链，公司全资子公司广西飞南拟投资建设新能 源材料项目，以广西飞南自产或外购的高冰镍生产硫酸镍、电积镍，预计项目总 投资约 8.8 亿元。本次投资项目的资金来源为广西飞南自有及自筹资金。公司可 根据项目实际实施情 ...

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]