Zheng Quan Shi Bao Wang·2025-07-13 11:10Core Viewpoint - The non-ferrous metal industry, particularly lithium, potassium, and copper sectors, has shown significant growth, with Cangge Mining's stock reaching historical highs due to strong fundamentals and strategic changes in ownership [1][2][5]. Group 1: Company Performance - Cangge Mining's stock has increased over 20% this year, with 21 stocks reaching historical highs, including a notable performance in July [1]. - The company expects a net profit of 1.75 billion to 1.90 billion yuan for the first half of 2025, representing a year-on-year increase of 34.93% to 46.49% [2]. - Investment income from its stake in Xizang Julong Copper Industry is projected to be approximately 1.265 billion yuan, a year-on-year increase of about 48.08% [2]. Group 2: Business Segments - Cangge Mining holds a 30.78% stake in Julong Copper, which is expected to contribute 1.928 billion yuan in investment income in 2024, with production capacity increasing in the coming years [3]. - As the second-largest potassium fertilizer producer in China, Cangge Mining maintains stable performance, with plans to produce 1 million tons of potassium chloride in 2025 [3]. - The company has advanced lithium extraction technology, maintaining a gross margin of over 45% despite market challenges, and has significant lithium resources in the Marmizuo Salt Lake project [4]. Group 3: Strategic Changes - The change in control to Zijin Mining has strengthened Cangge Mining's resource acquisition capabilities and positioned it as a core lithium platform within the Zijin system [5][6]. - Zijin Mining's expertise in mining operations and cost control is expected to enhance Cangge Mining's governance and accelerate project implementation [6]. - The commitment from Zijin Mining to prioritize Cangge Mining for lithium and potassium operations indicates potential for significant growth in these sectors [6].