雲南金潯資源股份有限公司 Yunnan Jinxun Resources Co., Ltd. （於中華人民共和國註冊成立的股份有限公司） 股份代號 : 3636 全球發售 獨家保薦人、保薦人兼整體協調人、整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 整體協調人、聯席全球協調人 、聯席賬簿管理人及聯席牽頭經辦人 聯席賬簿管理人及聯席牽頭經辦人 （按字母順序排列） 重要提示 閣下如對本招股章程任何內容有任何疑問，應諮詢獨立專業意見。 Yunnan Jinxun Resources Co., Ltd. 雲南金潯資源股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 全球發售 獨家保薦人、保薦人兼整體協調人、整體協調人、聯席全球協調人、聯席賬簿管理人 及聯席牽頭經辦人 整體協調人、聯席全球協調人、聯席賬簿管理人及聯席牽頭經辦人 全電子化申請程序 我們已就香港公開發售採取全電子化申請程序。我們不會就香港公開發售向公 眾人士提供本招股章程的印刷本。 聯席賬簿管理人及聯席牽頭經辦人（按字母順序排列） 聯席牽頭經辦人（按字母順序排列） 香港交易及結算所有限公司、香港聯合交易所有限公司及香港中央結算有限公司 ...

格隆汇12月29日丨川发龙蟒(002312.SZ)在互动平台表示，公司目前未进行电解液材料相关布局或项 目，如开展相关业务，公司将严格遵循信息披露规定，及时履行披露义务。新能源材料方面，公司主要 布局磷酸铁、磷酸铁锂等新能源材料项目，其中全资子公司德阳川发龙蟒6万吨/年磷酸铁锂装置已全面 建成并投产使用，10万吨/年磷酸铁装置正在进行试生产；同时德阳川发龙蟒拟投资建设10万吨/年磷酸 二氢锂项目，为草酸亚铁路线制备高压实密度磷酸铁锂提供原材料，该项目建设将发挥公司在磷化工及 新材料领域的资源、产业、技术等优势，有利于优化公司产品结构，强化新能源材料业务布局，提升公 司市场影响力和核心竞争力。 ...

Report Summary 1. Overnight Night Market Trends - Most domestic futures main contracts rose at the 23:00 close, with fuel oil and rapeseed meal up nearly 2%, and PX and PTA up over 1.5%. Jiao coal, coke, LPG, and glass fell over 1% [5]. - At the 1:00 close, Shanghai copper, aluminum, zinc, nickel, tin, and international copper main contracts rose, while the alumina main contract fell [5]. - At the 2:30 close, Shanghai gold, silver, and SC crude oil main contracts rose [6]. 2. Important News Macro News - China has lodged solemn representations with the US over its plan to impose 301 tariffs on some Chinese semiconductor products [9]. - Ukrainian President Zelensky had a good call with US representatives, emphasizing efforts to end the conflict [9]. Energy and Chemical Futures - As of December 25, 2025, the total inventory of national float glass sample enterprises increased slightly, while domestic soda ash manufacturers' inventory decreased [11]. - Russia's plan to produce 100 million tons of LNG annually has been postponed due to sanctions [11]. - Iraq has lost power - generation capacity due to the interruption of Iranian natural - gas supply [11]. - China will take measures to ensure the supply and price stability of fertilizers [13]. Metal Futures - The Guangzhou Futures Exchange has adjusted trading rules for platinum, palladium, and polysilicon futures contracts [15][16]. - Tianqi Lithium will change its spot - trading settlement price starting from January 1, 2026 [16]. - Wanrun New Energy will conduct production - line maintenance, reducing its lithium iron phosphate output [16]. - Four leading silicon - wafer companies have significantly raised their quotes [17][35]. - CSPT decided not to set a reference price for spot copper concentrate processing fees in Q1 2026 [17]. Black - Series Futures - The Dalian Commodity Exchange will adjust the daily price limit for coke and coking coal futures contracts [19]. - China will strengthen the construction of infrastructure and energy reserves [19]. - The average profit per ton of independent coking plants varies by region [19]. - The output, inventory, and demand of rebar have changed in the week of December 25 [20]. - Coal - mine production in Zhaotong, Yunnan, has been temporarily suspended [22]. Agricultural Futures - Malaysia's palm - oil exports from December 1 - 25 increased by 1.6% compared to the same period last month [24]. - Sugar - mill operations and inventory in Guangxi have changed [24]. - Argentina's 2025/26 corn production is expected to be slightly lower due to drought risks [24]. 3. Financial Markets Financial - A - shares continued to rise, with the Shanghai Composite Index up 0.47% and achieving a 7 - day winning streak [26]. - A - share listed companies' private placements have been active this year [28]. - The net inflow of the CSI A500ETF in December has been significant [29]. - Most private multi - asset strategy products have achieved positive returns this year [29]. - Analysts are optimistic about the A - share market in 2026 [29]. - The IPO application of Dapu Micro has been approved [31]. Industry - China has cracked down on financial "black - gray industries" [32]. - New regulations have been issued for the information disclosure of bank and insurance asset - management products [32]. - China will regulate the e - cigarette market [32]. - The government will strengthen the supervision of entrusted food production [32]. - Many game version numbers have been approved in December [33]. - Silicon - wafer prices have increased [35]. - China has made a breakthrough in the super - high - speed maglev field [35]. - Mobile phone shipments in China have increased [35]. - Shanghai will support the construction of the G60 Science and Technology Innovation Corridor [35]. Overseas - Israel may have another military conflict with Iran [36]. - Hungary's Prime Minister believes the root of the Russia - Ukraine conflict lies in the decline of Western Europe [36]. - Japan's 2026 fiscal - year initial budget has reached a record high [36]. - Japan has raised its economic forecast for the 2025 fiscal year [38]. - The Bank of Japan may raise interest rates [39]. - The Bank of Korea may cut interest rates in 2026 [40]. International Stock Markets - Japanese stocks rose slightly, while Vietnamese stocks tumbled [41]. - Morgan Stanley warns of three potential "surprises" in the US stock market in 2026 [41]. Commodities - Most domestic commodity futures closed higher, with new - energy materials leading the gains [42]. - The trading rules of platinum, palladium, and polysilicon futures on the Guangzhou Futures Exchange will be adjusted [42]. - Russia's oil production is expected to increase slightly in 2026 [42]. Bonds - China's bond market continued to fluctuate narrowly, and Japanese 2 - year bond auctions were weak [43]. Foreign Exchange - The on - shore RMB against the US dollar rose on Thursday [45]. 4. Upcoming Events - The People's Bank of China has 562 billion yuan of reverse repurchases maturing at 09:20 [47]. - The National Development and Reform Commission will hold a press conference at 10:30 [47]. - The 2025 Embodied Intelligence Development Frontier Conference and the 2025 Greater Bay Area Digital Chain Ecosystem Conference will be held on December 26 [47].

Core Viewpoint - Lianhong Xinke has successfully launched two major new energy material projects, enhancing its product portfolio and industry chain advantages, which is expected to positively impact the company's performance [1][2]. Group 1: Project Launches - The company’s subsidiary, Shandong Huayu Tongfang Electronic Materials Co., has successfully put into operation a 4,000 tons/year lithium battery additive, vinyl carbonate (VC), on December 22, 2025 [1]. - Another subsidiary, Lianhong Gelun (Shandong) New Materials Co., has also launched its integrated project for new energy materials and biodegradable materials [1]. - The VC product is currently the most widely used additive in lithium battery electrolytes, significantly improving battery capacity and cycle life [2]. Group 2: Market Demand and Future Projections - The lithium battery industry is experiencing increased demand driven by sectors such as power, energy storage, and low-altitude economy, leading to a rapid rise in market prices for lithium solvents and additives [2]. - Industry forecasts predict that the demand for power and energy storage batteries will grow by over 30% by 2026, with energy storage batteries potentially increasing by more than 50% [2]. Group 3: Production Capacity Expansion - The integrated project will add a 300,000 tons/year propylene oxide (PO) facility, a natural gas hydrogen production facility, a 1.3 million tons/year methanol-to-olefins (MTO) facility, a 200,000 tons/year EVA facility, and a 240,000 tons/year polyether polyol (PPG) facility [2]. - With the new facilities, Lianhong Xinke will have two 1.3 million tons/year MTO plants, ensuring stable and sufficient raw material supply [2]. - The total EVA production capacity will exceed 350,000 tons/year, and the PPG facility will utilize industry-leading continuous processing technology [2]. Group 4: Financial Performance - In the first three quarters, the company achieved a revenue of 4.568 billion yuan, a year-on-year decrease of 8.02%, while net profit reached 232 million yuan, a year-on-year increase of 30.32% [3]. - The company benefited from price increases in key products like EVA and UHMWPE, with a significant net profit increase of 90.9% in the third quarter alone, amounting to 71.73 million yuan [3].

龙蟠科技 （603906.SH、02465.HK）募资扩产计划迎来新进展。 近日，龙蟠科技发布公告称，公司2025年度向特定对象发行A股股票申请已获上海证券交易所受理。此 次发行计划募集资金总额不超过20亿元，核心投向高性能磷酸盐型正极材料产能建设及流动资金补充。 募资20亿扩产正极材料 根据龙蟠科技披露的募集资金使用可行性分析报告，公司本次募资总额不超过20亿元，扣除发行费用后 的净额将按项目轻重缓急投入三大方向。其中，8亿元将用于11万吨高性能磷酸盐型正极材料项目，6亿 元投向8.5万吨高性能磷酸盐型正极材料项目，剩余6亿元用于补充流动资金。 据长江商报记者统计，以上两个产能建设项目总投资规模达17.9亿元，拟投入募集资金占比70%，凸显 公司聚焦核心业务的战略定力。 龙蟠科技表示，两个项目合计将新增19.5万吨高性能磷酸盐型正极材料产能，使公司总产能实现跨越式 增长。 值得一提的是，此次募资的战略意义远超简单的产能增加，而是龙蟠科技应对行业竞争、把握市场机遇 的关键布局，将从多维度提升核心竞争力。其一，将有效提升高性能产品供应能力，应对市场差异化需 求。龙蟠科技通过募投项目建设，进一步提升公司市场占有率 ...

| 2026未来产业新材料博览会 | （FINE），围绕机器人、汽车、无人机、数据中心、航空航天、AI、新能 | | | --- | --- | --- | | 源等未来产业共性需求，特设6大展区， 其中 | 轻量化高强度与可持续材料展区 | 聚焦 | | 碳纤维、高分子和改性塑料、可持续材料等 | ， | 欢迎咨 | | 询：18957804107 | | | 【DT新材料】 获 悉，12月22日， 联泓新科 公告，控股子公司 联泓格润（山东）新材料有限公司 投资建设的新能源材料和生物可降解材料一体化项 目（以下简称"联泓格润一体化项目"）主要装置近日成功投产。 该 项目总投资125亿元， 位于山东省滕州市鲁南高科技化工园区，2024年4月开工建设，2025年9月实现整体中交， 其中：30万吨/年环氧丙烷 （PO）装置和天然气制氢装置于 12 月 22 日投产，130 万吨/年甲醇制烯烃（MTO）装置和20万吨/年乙烯-醋酸乙烯共聚物（EVA）装置于12月 10日投产，24万吨/年聚醚多元醇（PPG）装置于11月5日投产 。 PO产品可为 PPG 装置和后续投产的 生物可降解材料5 万吨/年聚碳酸亚丙酯 （ ...

本周（12.15-12.21）均价跟踪的100个化工品种中，共有42个品种价格上涨，37个品种价格下跌，21个 品种价格稳定。跟踪的产品中47%的产品月均价环比上涨，44%的产品月均价环比下跌，9%的产品月均 价环比持平。周均价涨幅居前的品种分别是硝酸（华东地区）硫酸（浙江巨化98%）、原盐（山东海 盐）、双酚A（华东）、TDI（华东）；周均价跌幅居前的品种分别是PVA、NYMEX天然气、LLDPE （余姚7042/吉化）、三氯乙烯（华东）乙二醇。 本周（12.15-12.21）国际油价下跌，WTI原油期货价格收于56.52美元/桶，收盘价周跌幅1.60%；布伦特 原油期货价格收于59.82美元/桶，收盘价周跌幅2.13%。宏观方面，根据21世纪经济报道，在美国政府 结束"停摆"后，通胀数据意外低于预期。美国劳工部12月18日发布的数据显示，11月美国消费者价格指 数（CPI）同比上涨2.7%，低于9月的3%。剔除波动较大的食品和能源价格后，11月核心消费者价格指 数同比上涨2.6%。供应方面，根据EIA数据，截至12月12日当周，美国原油日均产量1,384.3万桶，较前 一周日均产量减少1.0万桶，较去年同 ...

根据弗若斯特沙利文的资料，截至2024年12月31日，按在刚果（金）及赞比亚的产量计，金浔股份在中 国阴极铜生产商中排名第五，是唯一同时在这两个司法管辖区排名前五的中国公司。2024年，公司分别 在刚果（金）生产约16000吨阴极铜，在赞比亚生产约5000吨阴极铜。在中国民营企业中，按2024年的 产量计，公司在刚果（金）排名第三（市场份额0.9%），在赞比亚排名第一（市场份额0.8%）。 公司的核心业务是开发和供应优质铜资源，以满足中国庞大的铜需求，并通过在非洲扩大产能，实现了 整个产业价值链的深度整合。利用非洲矿石储量中铜和钴天然伴生的优势，公司正积极发展下游钴相关 产品生产业务，战略性布局快速增长的新能源材料领域。公司业务模式已从最初的有色金属贸易，逐步 发展为集矿物加工、冶炼及有色金属贸易为一体。 （原标题：金浔股份通过港交所聆讯 华泰国际担任独家保荐人） 金浔股份已通过香港交易所主板上市聆讯，由华泰国际担任独家保荐人。 ...

格隆汇12月21日｜阴极铜制造商金浔资源通过港交所上市聆讯，拟在香港主板上市。独家保荐人华泰国 际。 聆讯后资料集显示，该公司在刚果(金)及赞比亚拥有强大的影响力。根据弗若斯特沙利文的资料，截至 去年12月底，按在刚果(金)及赞比亚的产量计，公司在中国阴极铜生产商中排名第五，并为两个司法管 辖区中唯一排名前五大的中国公司。具体而言，公司于2024年在刚果(金)及赞比亚分别生产约1.6万吨及 5000吨阴极铜。 今年上半年收入9.64亿元，同比升61.72%；净利润1.35亿元，同比增长45.01%，主要受惠于生产量增 加，带动收入及毛利增长。 该公司的核心业务专注于开发及供应优质铜资源，并利用非洲丰富的铜储量，战略性地扩大产能，实现 了整个产业价值链的深度整合。公司在刚果(金)及赞比亚建立了先进的阴极铜冶炼业务，大幅提升其经 济效益及市场地位。此外，利用非洲矿石储量中铜和钴天然伴生的优势，正积极发展下游钴相关产品生 产业务，使自身在快速增长的新能源材料领域进行了战略性布局。 ...

智通财经APP获悉，据港交所12月21日披露，云南金浔资源股份有限公司(简称：金浔股份)通过港交所主板上市聆讯，华泰国际为其独 家保荐人。 | | | 截至12月31日止年度 | | 截至6月30日止六個月 | | | --- | --- | --- | --- | --- | --- | | | 2022年 | 2023年 | 2024年 | 2024年 | 2025年 | | | 人民幣千元 | 人民幣千元 | 人民幣于元 | 人民幣于元 | 人民幣千元 | | | | | | (未經審計) | | | 收入 | 637,303 | 675,701 | 1,769,833 | 595,965 | 963,785 | | 销售成本 ... ·· | (466,810) | (545,558) | (1,402,166) | (450,312) | (741,105) | | 毛利 | 170,493 | 130,143 | 367,667 | 145,653 | 222,680 | | 其他收入 | 6.332 | 3.131 | 1.865 | 1,265 | 818 | | 其他收益及虧損 | (7,6 ...