登录新浪财经APP 搜索【信披】查看更多考评等级 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、交易概述 为了进一步增加磷矿资源储备，提高磷矿石供给能力，强化磷产业链优势，经成都云图控股股份有限公 司（以下简称"公司"）第七届董事会第三次会议审议批准，公司以增资扩股方式参股四川马边晟隆矿业 有限公司（以下简称"晟隆矿业"）49%的股权，并以晟隆矿业为实施主体，合作开发位于四川乐山市马 边彝族自治县的二坝磷铅锌矿（以下简称"二坝磷矿"），内容详见公司2025年9月24日刊登于《中国证 券报》《证券时报》《上海证券报》和巨潮资讯网（http://www.cninfo.com.cn）上的公告（公告编号： 2025-047）。 二、二坝磷矿采矿权过户的进展情况 晟隆矿业于2025年9月16日通过司法拍卖，成功竞得原属四川马边中益矿业发展有限公司的二坝磷矿采 矿权及相关资产。近日，公司接到通知，晟隆矿业已完成二坝磷矿采矿权的转让变更登记，取得了四川 省自然资源厅核发的《中华人民共和国不动产权证书（采矿权）》。后续，晟隆矿业将加快推进矿山及 相关资产的交接，有序开展 ...

Core Viewpoint - The company, Yuntu Holdings, has approved a capital increase to acquire a 49% stake in Sichuan Mabianshenglong Mining Co., Ltd., aiming to enhance its phosphate resource reserves and supply capacity, thereby strengthening its phosphate industry chain advantage [1] Group 1: Investment and Resource Acquisition - The company will collaborate with Shenglong Mining to develop the Erba Phosphate-Lead-Zinc Mine located in Mabiang Yi Autonomous County, Leshan, Sichuan [1] - Shenglong Mining successfully acquired the mining rights and related assets of the Erba Phosphate Mine through judicial auction on September 16, 2025 [1] - The transfer of mining rights for the Erba Phosphate Mine has been completed, and the company has received the mining rights certificate from the Sichuan Provincial Natural Resources Department [1] Group 2: Strategic Benefits - The acquisition of the Erba Phosphate Mine is a significant step for the company in integrating phosphate resources and strengthening its upstream layout in the phosphate industry chain [1] - Once operational, the Erba Phosphate Mine will complement the company's phosphate mines in Leibo, Sichuan, enhancing the overall phosphate acid utilization chain advantages in Jingzhou and Yicheng, Hubei [1] - The company aims to produce high-quality refined phosphoric acid, industrial-grade monoammonium phosphate, water-soluble monoammonium phosphate, and iron phosphate, thereby improving the comprehensive utilization rate of phosphate resources [1]

Investment Rating - The investment rating for the company is "Buy (First Coverage)" [6] Core Views - The company has undergone significant changes, transitioning to a new operational phase under the leadership of Shudao Group, which has become the controlling shareholder. The focus is on whether the company can achieve a rebirth after overcoming past challenges [3][21] - The development of the Duolong Copper Mine is a key factor in the company's long-term growth prospects, as it is the largest undeveloped copper mine in China, expected to significantly enhance the company's production capacity and profitability [4][5] Summary by Sections Historical Development - The company has experienced both peaks and troughs throughout its history, and it is now entering a new phase of operations under Shudao Group's guidance [3][14] Shudao Group's Entry - The entry of Shudao Group has allowed the company to shed historical burdens, resolving long-standing litigation and debt issues, and improving liquidity and capital structure [8] - Potential integration of mining resources from Shudao Group could enhance the company's phosphate chemical business, which currently faces challenges due to a lack of upstream resources [8] - The collaboration between resources and market opportunities is expected to transform the existing business model, addressing issues related to raw material supply, market expansion, and product consumption [8] Duolong Copper Mine Development - The long-term supply of copper is expected to face bottlenecks, with price expectations trending upwards. The development of the Duolong Copper Mine is anticipated to open up significant growth opportunities for the company [5][9] - The estimated annual production from the Duolong Copper Mine is projected to be between 263,700 to 273,400 tons of copper, along with gold and silver production, contributing significantly to the company's profitability [5][9] Existing Business - The company's current operations focus on phosphate chemicals and zinc smelting, with zinc smelting primarily contributing to revenue but facing limited profitability. The phosphate chemical segment is expected to improve with potential resource integration [9][10] - The company is projected to achieve revenues of 3.561 billion, 3.729 billion, and 3.741 billion yuan from 2025 to 2027, with net profits gradually improving [11][10] Profit Forecast and Investment Recommendations - The company is expected to enter a positive growth trajectory in profitability due to improved liquidity and operational stability, with net profits projected to reach 30-40 billion yuan in the long term if the Duolong project is successfully developed [10][11]