宝鼎科技河西金矿合规达产，“黄金+高端材料”双主业共进

Core Viewpoint - Baoding Technology's subsidiary, Zhaoyuan Hexi Gold Mine, has successfully obtained a new safety production license, marking the completion of its resource integration and development project and entering the production phase, with a monthly production capacity of 25,000 tons [1][2] Group 1: Company Developments - The new safety production license allows for an annual production capacity of 300,000 tons, which is approximately double the previous year's production of 99,000 tons, indicating significant capacity enhancement [2][3] - The project extends mining depth to -950 meters, facilitating intensive extraction of deep resources, aligning with national strategies to increase domestic resource reserves and production [3] - The successful operation of the Hexi Gold Mine project reflects the company's ability to integrate resources and expand scale, contributing to its strategic advantage and internal value [2][5] Group 2: Industry Context - The implementation of the "High-Quality Development Plan for the Gold Industry (2025-2027)" by nine government departments emphasizes high-end, intelligent, green, and safe development, which Baoding Technology's project aligns with [2][3] - The global gold demand reached a historical high in Q3 2025, primarily driven by investment demand, which is expected to support continued demand for gold in Q4 despite high prices [4] - Baoding Technology's Q3 2025 financial results showed a revenue of 777 million yuan, a year-on-year increase of 24.16%, and a net profit of 29.84 million yuan, reflecting strong performance driven by the release of Hexi Gold Mine's capacity [4]