【私募调研记录】千合资本调研中矿资源

Group 1 - The core viewpoint of the news highlights the recent performance and strategic initiatives of Zhongmin Resources, as reported by Qianhe Capital during their institutional research [1] - In the first half of 2025, Zhongmin Resources achieved operating revenue of 326,672.53 million yuan, representing a year-on-year increase of 34.89%, while net profit decreased by 81.16% to 8,912.89 million yuan [1] - The rare light metal segment (cesium and rubidium) showed strong performance with revenue of 708 million yuan, up 50.43%, and gross profit of 511 million yuan, also up 50.15% [1] - The lithium battery new energy segment reported lithium salt sales of 17,869 tons, a year-on-year increase of 6.37%, and external sales of self-produced lithium spodumene concentrate at 34,834 tons [1] - The company has initiated a technical transformation project for an annual production of 30,000 tons of high-purity lithium salt [1] - In the copper and germanium business, the company acquired a 65% stake in the Kitumba copper mine project in Zambia and a 98% stake in the Tsumeb project in Namibia, launching integrated and multi-metal recycling projects [1] - The company aims to deepen its resource and cost advantages in lithium battery new energy and build a multi-metal mineral resource pool to enhance global resource allocation capabilities [1]