Core Viewpoint - The non-trading roadshow event in Hainan aimed to showcase the achievements and investment opportunities of the Hainan Free Trade Port, enhancing the confidence of foreign investors in the region [1][4]. Group 1: Event Overview - The non-trading roadshow took place from August 25 to 26, marking the first invitation of foreign investors to Hainan since the issuance of offshore RMB local government bonds in 2022 [1]. - The event attracted representatives from nearly 20 investment institutions, including equity funds and investment banks from the Middle East and Hong Kong [1]. Group 2: Key Projects and Developments - Investors visited the Wenchang International Aerospace City and Sanya Yazhou Bay Science and Technology City, observing the progress of key projects funded by foreign debt [2]. - The Wenchang International Aerospace City has developed a commercial aerospace ecosystem, with infrastructure construction reaching a significant scale and regular launch operations underway [2]. - In Sanya, investors learned about various projects, including water system engineering and a national saline-alkali resistant rice technology innovation platform, demonstrating the effective use of raised funds [2]. Group 3: Future Plans and Investor Sentiment - The Hainan Provincial Finance Department highlighted the successful issuance of foreign debt in recent years, emphasizing the targeted investment in key areas of the Free Trade Port [3]. - Hainan plans to continue issuing offshore RMB bonds in Hong Kong, aiming to share the development dividends of the Free Trade Port with international capital markets [3]. - Investors expressed strong confidence in Hainan's future development, particularly in high-tech fields such as aerospace and deep-sea technology, following their firsthand observations during the visit [3].

Group 1: Company Projects and Developments - The company has several upcoming construction projects, including the Silverman Phase II and Yubang mining projects, with the Silverman Phase II already having 50% of its underground engineering completed by the end of 2024 [5][7]. - The Atlantic Tin project is expected to start production in Q4 2027, with an estimated annual output of around 6,000 tons of tin metal [5][6]. - The Yubang mining project is currently seeking construction permits from the National Emergency Management Department [5]. Group 2: Financial Strategies and Performance - The company plans to issue $300 million in overseas bonds to support the Moroccan project and optimize its financing structure [5][6]. - In 2024, the company’s subsidiary, Qianjinda Mining, achieved a net profit of approximately 245 million RMB, a 39.16% increase year-on-year [8]. - The increase in contract liabilities in Q1 2025 is primarily due to an increase in advance payments received [11]. Group 3: Resource Management and Exploration - The Atlantic Tin project has an average ore grade of 0.55% with a recovery rate of 70%, and the planned annual ore processing capacity is 150,000 tons [6][9]. - The company is actively exploring the Silverman and Yubang mining areas, with significant potential for resource expansion identified [9][10]. - The company has four mining licenses covering 140 square kilometers in Morocco, with promising geological conditions for further exploration [6][9]. Group 4: Safety and Operational Management - The company emphasizes safety management, implementing strict risk control measures and training programs to enhance operational safety [10]. - A comprehensive safety responsibility system has been established to ensure the safety of employees and the sustainable development of the company [10]. Group 5: Stakeholder Engagement - The company held an investor relations event on May 5, 2025, to discuss its annual and quarterly performance with various investment institutions [5][11]. - Key executives, including the President and CFO, participated in the event to address investor inquiries regarding project developments and financial strategies [5].