Group 1: Company Overview and Operations - Ningxia Dongfang Tantalum Industry Co., Ltd. has established a global procurement system for tantalum and niobium concentrate, ensuring a stable supply of core raw materials through long-term partnerships with reputable traders [2][3]. - The company has completed the acquisition of a stake in Taboca Mining Company in Brazil, securing a contract to purchase approximately 3,000 tons of iron niobium tantalum alloy raw materials for an estimated amount of 540 million RMB [3]. Group 2: Production and Recycling Initiatives - The company is implementing a closed-loop recycling model that covers all production processes, enhancing the supply of tantalum and niobium metal waste through both internal recycling and market purchases [3]. - The previous fundraising project focused on the technological transformation of production lines for tantalum and niobium metallurgy products, which are essential raw materials for high-temperature alloy materials and high-end products [5]. Group 3: Financial and Regulatory Updates - As of January 7, 2026, the company received a notice from the Shenzhen Stock Exchange indicating that it meets the conditions for issuing shares to specific investors, pending approval from the China Securities Regulatory Commission [4]. - The company plans to expedite the share subscription and issuance process following the regulatory approval [4].

Group 1: Company Overview and Product Lines - The company specializes in tantalum and niobium metallurgy products, including tantalum and niobium ingots, carbides, and bars, which are essential additives for high-temperature alloys and high-end products [3] - The production line for tantalum and niobium sheet products includes a complete range of processing capabilities, with applications in semiconductors, chemical corrosion, and aerospace [3] - The annual production project for niobium superconducting cavities targets applications in large scientific devices such as particle accelerators and synchrotron light sources [3] Group 2: Recent Developments and Financial Status - The company received approval from the Shenzhen Stock Exchange for a specific stock issuance on January 7, 2026, pending final approval from the China Securities Regulatory Commission [4] - Recent fluctuations in cash flow are attributed to increased raw material procurement and rising employee compensation costs due to business growth [5][7] - The net cash flow from operating activities has turned negative due to increased cash outflows exceeding inflows, which is considered reasonable under current circumstances [7] Group 3: Raw Material Supply and Procurement Strategy - The company has established a global procurement system for tantalum and niobium ores, securing long-term partnerships with reputable traders to ensure stable raw material supply [8] - A strategic acquisition of a Brazilian mining company has been completed, with a contract to purchase approximately 3,000 tons of niobium-tantalum alloy raw materials valued at approximately 540 million RMB [8] - The company is implementing a closed-loop recycling model to maximize resource utilization efficiency by recovering tantalum and niobium metal waste throughout its production processes [8]

投资者关系活动记录表 编号：2025-003 投资者关系活 动类别 □特定对象调研 □分析师会议 □媒体采访 ☑业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称 及人员姓名 全景网"投资者关系互动平台"（https://ir.p5w.net）参 与"2024 年度云南辖区上市公司投资者网上集体接待日"的 全体投资者 时间 2025 年 5 月 16 日 16:00-17:00 地点 全景网"投资者关系互动平台"（https://ir.p5w.net） 上市公司接待 人员姓名 董事、财务总监黄海先生 副总经理、董事会秘书黄秋涵先生 独立董事田俊先生 投资者关系活 动主要内容介 绍 1、对于二季报的业绩有哪些亮点，埃及项目进展如何， 20 亿资金缺口如何解决，是通过发行股份幕资吗，产品有无 涨价预期？ 答：尊敬的投资者，您好。第一，目前公司盈利能力已 恢复至正常水平，整体运营态势良好。关于二季度业绩情况， 请关注公司相关公告。第二，在埃及项目推进方面，公司埃 及项目正按既定计划稳步有序地向前推进。前期，公司已在 公告中详细阐明了该项目的资金来源，确保项目顺利实施。 后续，一旦项目进展达到相关 ...

Summary of Dongfang Tantalum Industry Conference Call Company Overview - **Company**: Dongfang Tantalum Industry - **Year**: 2024 Key Financial Performance - **Revenue**: Achieved 1.28 billion CNY, a year-on-year increase of 15.57% [3] - **Net Profit**: Expected net profit attributable to shareholders is 213 million CNY, up 13.94% year-on-year [3] - **Net Profit (excluding non-recurring items)**: 192 million CNY, a growth of 21.92% year-on-year [3] Product Structure and Performance - **Main Products**: - High-temperature alloys: 428 million CNY (33.5% of total revenue, gross margin ~14%) [5] - Carbon powder: 282 million CNY (22.1%, gross margin ~16%) [5] - Tantalum wire: 140 million CNY (11.03%, gross margin ~16%) [5] - Finished product factory revenue: 23.7% of total revenue, gross margin increased to ~23% [4][5] Capacity Expansion and Production Plans - **Qingnong Bank Project**: Fully operational since May 2024, with 100 orders delivered and 150 orders received for 2025, planning to add 400 units of capacity [4][6] - **New Equipment**: Plans to add 3 units of 1,600 kW electron beam equipment to enhance production quality and efficiency [4][7] - **Production Capacity**: By April-May 2025, activated product capacity will reach 1,000 tons [4][12] Market Demand and Competition - **High-temperature Alloys**: Strong demand with orders extending three months ahead, primarily supplying aerospace materials [10][11] - **Semiconductor Targets**: Significant domestic demand for high-purity metals, with increased orders from companies like Youquan [11] - **Competitive Landscape**: Company is a leading player in the capacitor tantalum powder market, competing with US firms like Cabot and S Bark [13] Supply Chain and Raw Material Security - **Raw Material Sourcing**: Major shareholder purchased tantalum mines in Brazil to enhance self-sufficiency, reducing reliance on Congo [18][19] - **Inventory Levels**: Online raw material inventory exceeded 500 million CNY, with over 100 tons of metal reserves [19] Technological Advancements - **Equipment Upgrades**: Importing advanced equipment from Germany, including a 1,600 kW electron magnetic furnace [8] - **Production Line Improvements**: Ongoing upgrades to the finished product factory to meet high-end market demands [9] Future Outlook and Strategic Goals - **Capital Expenditure**: Plans for extensive capital expenditure to expand production capacity across various lines [24] - **Talent Retention**: Implemented measures to prevent talent outflow and attract skilled workers back to the company [25] - **Dividend and Incentive Plans**: Continuing annual dividends and initiating a second phase of stock incentive plans [22] Additional Insights - **Market Trends**: High demand for high-purity products, with a potential increase in competition in the mid-to-high-end market [15] - **Environmental Considerations**: Plans for technology upgrades in lithium phosphate production to address quality issues [12] This summary encapsulates the key points from the conference call, highlighting the company's financial performance, product structure, capacity expansion, market demand, supply chain strategies, technological advancements, and future outlook.