证券代码：601899 股票简称：紫金矿业 编号：临2025-044 紫金矿业集团股份有限公司 关于参加2025年福建辖区上市公司投资者 网上集体接待日活动的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 为进一步加强与投资者的互动交流，紫金矿业集团股份有限公司（以下简称 "公司"）将参加由福建证监局指导，福建省上市公司协会与深圳市全景网络有 限公司联合举办的"2025 年福建辖区上市公司投资者网上集体接待日活动"，现 将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP，参与 本次互动交流，活动时间为 2025 年 5 月 14 日（周三）15:30-17:00。届时公司将在 线就公司 2024 年度及 2025 年第一季度业绩情况、公司治理、发展战略、经营情 况和可持续发展等问题与投资者进行交流，欢迎广大投资者踊跃参与。 特此公告。 紫金矿业集团股份有限公司 董 事 会 二〇二五年五月九日 1 ...

Summary of the Conference Call on Zijin Mining's Overseas Spin-off Company Overview - **Company**: Zijin Mining - **Industry**: Mining, specifically gold mining Key Points and Arguments 1. **Spin-off Strategy**: Zijin Mining plans to spin off its overseas gold business for a listing on the Hong Kong Stock Exchange, aiming to create a world-class gold company with a target of 100 tons of gold production by 2028, enhancing overall company valuation and investor returns [1][2][3] 2. **Market Conditions**: The spin-off is a long-term strategy influenced by rising gold prices and favorable national policies encouraging mining companies to acquire resources overseas [1][4] 3. **Financial Projections**: By 2025, Zijin Mining expects its overseas gold mines to produce 45 tons of gold, generating a net profit of at least 7 to 8 billion RMB, with the new subsidiary potentially valued at over 150 billion RMB based on market estimates [1][5][6] 4. **Capital Market Flexibility**: The new subsidiary will have greater flexibility for capital market financing and acquisitions, minimizing dilution of the parent company's shares, which aligns with investor interests [1][4][6] 5. **Focus on Quick Returns**: Zijin Mining is cautious about long-term projects and prefers assets that can be quickly developed or are currently undervalued, emphasizing projects that are either in production or nearing production [1][7] 6. **Investment Returns**: The company has achieved approximately 20 billion RMB in investment returns through strategic stakes in quality listed companies, enhancing management capabilities and investment value [2][8] 7. **Cost Management**: The overall cost of overseas mines is higher than the company average but remains manageable, with environmental costs stable at around 250 USD per ounce [10] 8. **Project Updates**: The company is making progress on various projects, including the Zange project and the Tibet copper mine, with expectations for production to commence by the end of 2026 [13][16] Additional Important Information - **Regulatory Constraints**: Domestic gold assets cannot be spun off due to regulatory restrictions [14] - **Market Positioning**: The spin-off is expected to optimize the company's structure and enhance shareholder value for both A-share and H-share investors [2][4] - **Management Adjustments**: Recent management changes have been made to improve operational efficiency, particularly in the Kamoa-Kakula project [11] This summary encapsulates the strategic direction, financial expectations, and operational focus of Zijin Mining as discussed in the conference call, highlighting the company's commitment to enhancing its market position through strategic spin-offs and investments.

Group 1 - Zijin Mining has completed the acquisition of control over Zangge Mining, holding 411 million shares, which is 26.18% of its total share capital [3] - Huayi Group plans to acquire 60% equity of San Aifu for approximately 4.09 billion yuan, aiming to enhance business expansion and competitiveness [6] - Silex reported April sales of 31,488 new energy vehicles, a year-on-year increase of 12.99%, while cumulative sales for the year reached 86,040 units, down 29.87% [4] Group 2 - Huamao Technology's controlling shareholder intends to increase its stake in the company by 100 million to 200 million yuan within six months [2] - Haixing Power's controlling shareholder has signed an agreement to transfer 5% of the company's shares, amounting to 57.9 million yuan, to a related party [5] - Huaneng Technology's controlling shareholder is planning a change in control, which may lead to a transfer of 15% of the company's shares [12] Group 3 - Huzhou Intelligent successfully bid for 75% equity of Shanghai Aerospace Yigeng Intelligent Technology Co., Ltd. for 101 million yuan, focusing on high-end five-axis linkage machine tools [13] - Changchuan Technology plans to establish a joint venture for high-end packaging and testing equipment localization with a registered capital of 100 million yuan [8] - Aoheng Electric received a project confirmation from a leading new energy vehicle brand, with an estimated total revenue of approximately 619 million yuan over the project lifecycle [9] Group 4 - Huazhi Media's film "Dumpling Queen" has grossed approximately 218 million yuan in ticket sales within six days of release, exceeding 50% of the company's last audited annual revenue [10] - Yinlun Co. plans to repurchase shares worth 50 million to 100 million yuan, with a maximum price of 36 yuan per share [11]

深圳商报·读创客户端记者 穆砚 5月6日，紫金矿业全资子公司紫金国际控股收到中国证券登记结算有限责任公司出具的《证券过户登记 确认书》，确认西藏藏格创业投资集团有限公司(以下简称"藏格创投")、四川省永鸿实业有限公司、肖 永明、林吉芳、宁波梅山保税港区新沙鸿运投资管理有限公司(以下简称"新沙鸿运")合计持有的藏格矿 业392,249,869股股份已于2025年4月30日全部过户登记至紫金国际控股名下。 公司第九届董事会非独立董事肖宁先生、钱正先生、朱建红女士、方丽女士、张萍女士，独立董事王作 全先生，在公司新一届董事会产生后不再担任公司董事职务。 这也意味着紫金系人马掌握了藏格矿业的董事会。 5月6日晚间，紫金矿业（601899）集团股份有限公司（以下简称"紫金矿业"或"公司"）发布关于完成藏 格矿业（000408）股份有限公司控制权收购的公告。公告称，公司全资子公司紫金国际控股(以下简 称"紫金国际控股")于2025年4月30日完成对藏格矿业股份有限公司（以下简称"藏格矿业"）的控制权收 购，合计持有藏格矿业4.11亿股股份，占其总股本26.18%。藏格创投、新沙鸿运已承诺不谋求控制权及 放弃部分表决权。 ...

Core Viewpoint - Zijin Mining is increasingly focusing on its market value performance, planning to spin off its overseas gold mining assets to enhance overall company value and shareholder value amid a rising gold price cycle [1][7]. Group 1: Spin-off and Market Strategy - The company plans to restructure its overseas gold mining assets into a wholly-owned subsidiary, Zijin Gold International Co., Ltd., and apply for a listing on the Hong Kong Stock Exchange [1]. - The spin-off is expected to significantly improve Zijin Mining's overall value and asset securitization level, as the company aims to attract more international investors [2][6]. - The current valuation of Zijin Mining is lagging behind its peers in A-shares, H-shares, and US stocks, with a P/E ratio of approximately 13.58 times compared to an average of 17.31 times for 14 gold and precious metal companies listed on the Hong Kong Stock Exchange [1][8]. Group 2: Growth Potential and Asset Quality - Zijin Mining's gold production is projected to increase from 68 tons in 2023 to 73 tons in 2024, positioning the company among the top ten globally [3][4]. - Key overseas projects, such as the Rosebel Gold Mine in Suriname and the Akyem Gold Mine in Ghana, are expected to contribute significantly to future earnings, with the Rosebel mine's production potentially reaching 10 tons annually post-expansion [5][6]. - The company’s overseas operations have a gross profit margin of 27.52%, significantly higher than the 9% margin for domestic operations, indicating a comparative advantage in asset quality [5][6]. Group 3: Valuation Comparison - The company’s current P/E ratio of 14.73 times in A-shares is below the average of 31.74 times for 11 gold companies, highlighting the undervaluation issue [7][8]. - In the global context, major competitors like Newmont and Barrick Gold have P/E ratios ranging from 15 to 31 times, further emphasizing the low valuation of Zijin Mining [9]. - The spin-off plan aligns with the favorable conditions of high international gold prices and the need for better market valuation management [9].

证券代码：601899 股票简称：紫金矿业 编号：临 2025-043 紫金矿业集团股份有限公司 关于完成藏格矿业股份有限公司控制权收购的公告 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。 本次收购完成后，公司将着力强化与藏格矿业在资源、产业、技术等方面的 协同配合，依托公司全流程自主技术、大规模系统工程研发实施能力等对藏格矿 业进行深度赋能，结合双方行业领先的成本控制能力，加快藏格矿业钾、锂板块 资源潜力的释放，加速资源优势向经济效益的转化，提升公司与藏格矿业整体投 资价值。 特此公告。 紫金矿业集团股份有限公司 董 事 会 二〇二五年五月七日 2025 年 5 月 6 日，紫金矿业集团股份有限公司（以下简称"公司"）全资子公 司紫金国际控股有限公司（以下简称"紫金国际控股"）收到中国证券登记结算有 限责任公司出具的《证券过户登记确认书》，确认西藏藏格创业投资集团有限公司 （以下简称"藏格创投"）、四川省永鸿实业有限公司、肖永明、林吉芳、宁波梅 山保税港区新沙鸿运投资管理有限公司（以下简称"新沙鸿运"）合计持有的藏格 矿业 ...

Core Viewpoint - Zijin Mining (601899) announced the completion of control acquisition of Zangge Mining (000408) by its wholly-owned subsidiary Zijin International Holdings on April 30, 2025, holding a total of 411 million shares, accounting for 26.18% of Zangge Mining's total share capital [1] Group 1 - The acquisition is expected to facilitate the integration of high-quality resources and add potassium resource reserves [1] - The company aims to become a significant potassium salt producer through this acquisition [1] - The acquisition is anticipated to enhance the operational management efficiency of the Julong Copper Mine and accelerate the conversion of resource advantages into economic benefits [1]

Group 1 - The CSI Hong Kong-Shanghai-Shenzhen 500 upstream index reported a value of 2139.96 points, with a decline of 4.94% over the past month, 2.21% over the past three months, and 3.72% year-to-date [1] - The index is based on the comprehensive index samples of the Hong Kong-Shanghai-Shenzhen Stock Connect and the CSI 500 index, reflecting the overall performance of securities listed in the three regions [1] - The top ten holdings of the CSI Hong Kong-Shanghai-Shenzhen 500 upstream index include Zijin Mining (12.94%), China National Offshore Oil Corporation (12.58%), China Shenhua Energy (5.68%), and China Petroleum & Chemical Corporation (5.28%) [1] Group 2 - The industry composition of the CSI Hong Kong-Shanghai-Shenzhen 500 upstream index shows that oil and gas account for 33.27%, precious metals for 22.98%, coal for 18.64%, and industrial metals for 13.87% [2] - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [2] - In case of special circumstances, temporary adjustments may be made to the index samples, including the removal of delisted companies and handling of mergers or acquisitions according to maintenance guidelines [2]

Core Viewpoint - Zijin Mining Group plans to restructure its overseas gold mining assets into its wholly-owned subsidiary, Zijin Gold International, and apply for a separate listing on the Hong Kong Stock Exchange to accelerate its internationalization process and enhance its gold business [1][2][4]. Group 1: Company Strategy - The restructuring will involve several world-class gold mines located in South America, Central Asia, Africa, and Oceania [2]. - The split listing is intended to maintain the stability of Zijin Mining's equity structure while broadening the international investor base for Zijin Gold International [2]. - The company aims to leverage a more international listing platform to strengthen its gold business and enhance competitiveness in overseas capital markets [2]. Group 2: Market Context - The announcement coincides with a rising gold price cycle, which is expected to facilitate the revaluation of the company's gold assets [4]. - Recent data indicates that global gold demand reached 1,206 tons in Q1 2025, a 1% increase year-on-year, with gold prices surpassing $3,000 per ounce [3]. Group 3: Production and Financial Performance - In Q1 2025, Zijin Mining's gold production increased by 13% year-on-year to 19.07 tons, with a target to produce 85 tons in 2025, up from 73 tons in the previous year [7]. - The company plans to achieve a gold production target of 100 to 110 tons by 2028 [7]. - For the fiscal year 2024, Zijin Mining reported a revenue of 303.64 billion yuan, a 3.49% increase, and a net profit of 32.051 billion yuan, a 51.76% increase [7].

Group 1 - Tianli Lithium Energy announced the termination of its acquisition of Jiangsu Damo Semiconductor Technology Co., Ltd. due to changes in objective circumstances, with both parties agreeing to handle post-termination matters amicably [1] - The termination reflects a more cautious approach to strategic investments in the current market environment, indicating good business reputation and risk management capabilities [1] - The impact of this event on Tianli Lithium Energy's operational performance and financial status is limited, with a focus on the company's future strategic layout and core business development [1] Group 2 - Zijin Mining plans to restructure its overseas gold mining assets under its wholly-owned subsidiary, Zijin Gold International, and apply for a separate listing on the Hong Kong Stock Exchange [2] - This strategic move aims to accelerate the internationalization of its gold segment and enhance overall company and shareholder value, although it is still in the preliminary planning stage and requires relevant approvals [2] - Successful implementation of this plan could broaden financing channels and strengthen the company's competitiveness in the international gold market [2] Group 3 - Tian Tie Technology announced the termination of the share transfer agreement with private equity funds, resulting in the continuation of its current controlling shareholders and actual controllers [3] - This event indicates increased uncertainty in equity transactions in the current market environment, with the company maintaining its internal stability [3] - The company needs to enhance communication with investors to maintain market confidence following the termination of the control change plan [3]