Core Viewpoint - Two major shareholders of Sichuan Gold (001337.SZ) plan to reduce their holdings by a total of up to 5.5% due to personal funding needs, without causing a change in company control [1] Shareholder Reduction Plans - Beijing Jinyang Mining Investment Co., Ltd. intends to reduce its stake by up to 2.50%, while Zijin Mining Group Southern Investment Co., Ltd. plans to reduce its stake by up to 3.00% [1] - The total estimated reduction amount is approximately 5.87 billion yuan based on the current market price of 25.40 yuan per share [1] Shareholder Holdings - Before the planned reductions, Jinyang Mining held 48.546 million shares (11.56% of total shares), and Zijin Southern held 36.044 million shares (8.58% of total shares) [1] Market Performance - Sichuan Gold's stock price has experienced volatility, reaching a high of 27 yuan after last year's National Day, dropping to 19.80 yuan in April, and currently standing at 25.40 yuan [5] - The company's price-to-earnings ratio is 6.85, and its price-to-book ratio is 39.91, indicating that its valuation is relatively high compared to peers in the gold industry [5] Previous Reduction by Zijin Southern - Zijin Southern previously reduced its holdings by 154.01 million shares (0.37% of total shares) at an average price of 22.96 yuan per share between October 31, 2024, and January 30, 2025 [4] Industry Outlook - The company benefits from rising gold prices, which positively impact its sales performance [7] - The expectation of continued upward movement in gold prices is supported by geopolitical instability and anticipated interest rate cuts by the Federal Reserve [7] - Recent reports suggest that the valuation of gold stocks is entering a phase of accelerated recovery due to increasing gold prices and capital allocation [8]

Group 1 - The China Securities Subdivision Nonferrous Metals Industry Theme Index (000811) has seen a strong increase of 2.15%, with constituent stocks such as Zijin Mining (601899) rising by 5.44% and Chifeng Jilong Gold Mining (600988) by 5.16% [1] - The Nonferrous 50 ETF (159652) has also increased by 2.08%, with a latest price of 0.93 yuan, and has accumulated a rise of 2.35% over the past month [1] - The trading volume for the Nonferrous 50 ETF was 5.77% with a transaction value of 15.1285 million yuan, and the average daily transaction value over the past year was 20.6154 million yuan [1] Group 2 - The London spot gold price has risen, breaking through $3,310 per ounce, currently reported at $3,314 per ounce, influenced by a weak US dollar and escalating international geopolitical tensions [4] - Moody's has downgraded the US government's credit rating from Aaa to Aa1, ending a 106-year streak of maintaining the highest rating, which has led to a significant increase in US Treasury yields [4] - Long-term factors such as high US debt and deficit rates, potential re-inflation risks, complex global geopolitical situations, and gold purchases by multiple central banks are expected to support gold prices [4] Group 3 - There is a recommendation to focus on leading scale companies and the Nonferrous 50 ETF (159652) for those optimistic about the recovery of precious metals and industrial metal cycles [5] - The suggestion includes investing in off-market connections (Class A: 019164; Class C: 019165) to capture the economic recovery and interest rate easing expectations [5]

交易所互联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 关于紫金矿业集团股份有限公司 年第一次 H 股类别股东会的 法 律 意 见 书 福建至理律师事务所 地址：福州市鼓楼区洪山园路华润万象城三期 TB#写字楼 22 层 电话： （0591）8806 5558 传真： （0591）8806 8008 网址：http://www.zenithlawyer.com 福建至理律师事务所 关于紫金矿业集团股份有限公司 一次 H 股类别股东会的法律意见书 闽理非诉字〔2025〕第 094 号 致：紫金矿业集团股份有限公司 福建至理律师事务所（以下简称本所）接受紫金矿业集团股份有限公司（以 下简称公司）之委托，指派蒋方斌、林涵律师出席公司 2024 年年度股东会（以 下简称本次年度会议）、2025 年第一次 A 股类别股东会（以下简称本次 A 股类别 会议）、2025 年第一次 H 股类别股东会（以下简称本次 H 股类别会议），并依据 《中华人民共和国公司法》 （以下简称《公司法》）、 《中华人民共和国证券法》 （以 下简称《证券法》）、 《上市公司股东会规则》 《上海证券交易所上市公司自律监管 指引第 ...

证券代码：601899 证券简称：紫金矿业 公告编号：2025-045 紫金矿业集团股份有限公司 2024年年度股东会、2025 年第一次 A 股类别股东会、 2025 年第一次 H 股类别股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 5 月 19 日 (二)股东会召开的地点：福建省上杭县紫金大道 1 号紫金总部大楼 21 楼会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： 2024 年年度股东会 | 1、出席会议的股东和代理人人数 | 5,480 | | --- | --- | | 其中：A 股股东人数 | 5,479 | | 境外上市外资股股东人数（H 股） | 1 | | 2、出席会议的股东所持有表决权的股份总数（股） | 14,450,735,465 | | 其中：A 股股东持有股份总数 | 11,107,483,492 | | 境外上市外资股股东持有股份总数（H 股 ...

关于紫金矿业集团股份有限公司 2024 年年度股东会、2025 年第一次 A 股类别股东会、2025 年第一次 H 股类别股东会的 法 律 意 见 书 地址：福州市鼓楼区洪山园路华润万象城三期 TB#写字楼 22 层 电话：（0591）8806 5558 传真：（0591）8806 8008 网址：http://www.zenithlawyer.com 1 福建至理律师事务所 关于紫金矿业集团股份有限公司 2024 年年度股东会、2025 年第一次 A 股类别股东会、2025 年第 一次 H 股类别股东会的法律意见书 闽理非诉字〔2025〕第 094 号 致：紫金矿业集团股份有限公司 福建至理律师事务所（以下简称本所）接受紫金矿业集团股份有限公司（以 下简称公司）之委托，指派蒋方斌、林涵律师出席公司 2024 年年度股东会（以 下简称本次年度会议）、2025 年第一次 A 股类别股东会（以下简称本次 A 股类别 会议）、2025 年第一次 H 股类别股东会（以下简称本次 H 股类别会议），并依据 《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以 下简称《证券法》）、《上市公司股东会 ...

Core Viewpoint - The continuous rise in international gold prices has prompted significant capital operation plans from major players in the Chinese gold market, specifically Zijin Mining and Lau Po Gold [1][2]. Group 1: Zijin Mining - Zijin Mining announced plans to spin off its overseas gold mining assets for listing on the Hong Kong Stock Exchange, which includes several world-class large mines in South America, Central Asia, Africa, and Oceania, representing 67% of the company's total gold resources [1]. - The company has a market capitalization of 472 billion yuan, with a compound annual growth rate of 12% in gold production over the past five years, and a projected gold production of 72,938 kilograms (approximately 234.50 million ounces) in 2024, reflecting a year-on-year increase of 7.70% [1]. - Zijin Mining's gold production accounts for 24% of China's total gold output, and the spin-off is expected to enhance its market competitiveness and drive a revaluation of its gold assets [1][2]. Group 2: Lau Po Gold - Lau Po Gold, which became the "king of stocks" in Hong Kong, plans to raise approximately 2.72 billion Hong Kong dollars by placing 4.31 million shares, with a net amount expected to be around 2.7 billion Hong Kong dollars [1]. - Since its debut on June 28, 2024, Lau Po Gold's stock price has surged, reaching a peak of 881 Hong Kong dollars per share, leading to a current market capitalization of 112.3 billion Hong Kong dollars [1]. - The rapid rise of Lau Po Gold indicates strong market potential and reflects confidence in its future development following its significant market valuation increase [2].

（二）是否存在影响独立性的情况说明 公司独立董事不在公司兼任除董事会专门委员会委员以外的其他 吴小敏 - 副主任委员 委员 职务，与公司及公司主要股东之间不存在妨碍独立董事履职保持独立、 客观判断的关系，不存在影响独立董事独立性的情况，符合《上市公司 独立董事管理办法》等法律法规相关独立性要求。 报告期，公司 2024 年召开 1 次股东会、20 次董事会、1 次战略与 可持续发展（ESG）委员会、6 次审计与内控委员会、3 次提名与薪酬 委员会、1 次独立董事专门会、1 次独立董事与董事长闭门会、1 次独 立董事与总裁闭门会、1 次独立董事与安永审计师闭门会。本年度独立 董事未对公司董事会及其专门委员会各类议题及其他事项提出反对或 弃权，未提议召开临时股东会和董事会。独立董事出席会议情况如下 表： The First A Shareholder's and H Shareholder's Class Meeting in 2025 会 议 材 料 紫金矿业集团股份有限公司 紫金矿业集团股份有限公司 ? 会议时间：2025 年 5 月 19 日（星期一）上午 9 点。 ? 网络投票时间：2025 年 5 月 ...

2024 年年度股东会 2025 年第一次 A 股类别股东会 2025 年第一次 H 股类别股东会 2024 Annual General Meeting The First A Shareholder's and H Shareholder's Class Meeting in 2025 会 议 材 料 紫金矿业集团股份有限公司 2025 年 5 月 19 日 紫金矿业集团股份有限公司 2024 年年度股东会议程 议 程 主持人宣布大会开幕； 董事会秘书宣布参加本次股东会现场会议的股东人数、代表股份总额； 主持人根据公司章程提议表决票清点人； 本次会议逐项审议下列议案： 1.公司2024年度董事会工作报告 2.公司独立董事2024年度述职报告 3.公司2024年度监事会工作报告 4.公司2024年年度报告及摘要 5.公司2024年度财务决算报告 6.公司2024年度利润分配方案 7.关于提请股东会授权董事会制定2025年中期利润分配方案的议案 8.关于执行董事、监事会主席2024年度薪酬计发方案的议案 9.关于变更2025年度审计机构的议案 10.关于2025年度担保计划的议案 11.关于子公司开展期货及衍 ...

Core Viewpoint - In April, A-shares experienced a significant repurchase wave, with over 240 listed companies announcing repurchase plans totaling approximately 73.5 billion yuan, marking an explosive growth in both the number of companies and the amount proposed compared to March [1][2][3] Group 1: Repurchase Activity - A total of 241 companies announced share repurchase plans in April, a more than fourfold increase from 44 in March, with a proposed repurchase amount of approximately 735.25 billion yuan, up 257.14% from March's 205.87 billion yuan [2][3] - Notable companies leading the repurchase include Ningde Times (80 billion yuan), Xugong Machinery (36 billion yuan), and Midea Group (30 billion yuan) [2][3] - The repurchase activity was spurred by market volatility and a call from the State-owned Assets Supervision and Administration Commission to support central enterprises and listed companies [3][4] Group 2: Market Impact - The repurchase wave positively impacted the capital market, with the Shanghai Composite Index rebounding after a drop of 7.34% on April 7, recording a cumulative increase of 7.93% from April 8 to May 9 [8] - The total repurchase transaction amount in April exceeded 26 billion yuan, a 73% increase from March [9] Group 3: Financing and Policy Support - Approximately 105 of the 241 companies obtained loan commitment letters for repurchase financing, with the total loan amount capped at about 19.956 billion yuan, an increase of 68.35% from March [5] - The People's Bank of China extended the maximum loan term for repurchase financing from one year to three years, reducing the self-funding requirement from 30% to 10% [5] Group 4: Individual Company Actions - Xugong Machinery led the repurchase with a total of 21.42 billion yuan completed by May 7, showcasing a strong commitment to shareholder returns [10][11] - Zijin Mining completed its repurchase plan in just three trading days, reflecting confidence in its future prospects, with a total repurchase amount of 10 billion yuan [11]

Core Viewpoint - The control of Cangge Mining has shifted to Zijin Mining Group, which now holds 26.18% of the shares and has achieved financial consolidation despite not owning a majority stake [1][3][4]. Group 1: Control Transfer and Shareholding Changes - Zijin Mining completed the acquisition of Cangge Mining's control within four months, spending 137.29 billion yuan to acquire approximately 392 million shares at 35 yuan per share, representing 24.98% of Cangge Mining's total equity [3][4]. - Following the transfer, the shareholding of the original controller, Xiao Yongming, decreased to 20.13%, with voting rights at 15.1%, while Zijin Mining's voting rights increased to 26.18% [4]. - The board of directors of Cangge Mining underwent significant changes, with most seats now held by Zijin Mining personnel, indicating a complete shift in governance [5][6]. Group 2: Financial Performance and Market Context - Cangge Mining, a key player in the lithium mining sector, reported a total revenue of 32.51 billion yuan in 2024, a decrease of 37.79% year-on-year, and a net profit of 25.80 billion yuan, down 24.56% [7]. - The decline in revenue was attributed to falling prices of potassium chloride and lithium carbonate, with the average market price for lithium carbonate dropping by 67.04% to 90,100 yuan per ton in 2024 [7][8]. - Despite the downturn, analysts project steady growth for Cangge Mining, with expected revenues of 33.39 billion yuan, 39.88 billion yuan, and 48.63 billion yuan from 2025 to 2027, reflecting a compound annual growth rate [7].