HONGDA CO.,LTD(SH:600331) Mei Ri Jing Ji Xin Wen·2025-09-11 06:12Core Viewpoint - The formal development of the world-class Duolong copper mine in Tibet is approaching, with Hongda Co., Ltd. planning to increase investment in its subsidiary, Duolong Mining Co., Ltd. [1] Group 1: Investment and Ownership Structure - Hongda Co., Ltd. and its controlling shareholder, Sichuan Hongda Group, will jointly invest in Duolong Mining, with Hongda contributing 159 million yuan [3] - After the investment, the shareholding structure remains unchanged: Hongda Co., Ltd. holds 30%, Sichuan Hongda Group holds 40%, and Xizang Shengyuan Mining Group holds 30% [3] Group 2: Resource and Production Capacity - The Duolong copper mine is recognized as one of the most valuable copper mines globally, with proven copper reserves of 20 million tons and an ore resource of 1.44 billion tons, averaging 0.48% copper grade [4] - The designed mining scale is 7.5 million tons per year, with an estimated annual copper production of approximately 360,000 tons [4] Group 3: Historical Context and Development Challenges - Duolong Mining was established in September 2014, but development has been delayed due to challenging high-altitude conditions, significant upfront investment, and previous legal issues that led to the freezing of Hongda's shares [5] - The legal issues have been resolved, allowing Hongda to proceed with the development of the Duolong copper mine [5] Group 4: Future Plans and Funding - Hongda Co., Ltd. plans to raise funds through shareholder investments and external financing to support the large-scale and long-term development of the Duolong copper mine [6]