Core Viewpoint - The company reported significant growth in revenue and net profit for the first three quarters of 2025, driven by rising prices of potassium chloride and copper, despite a decline in lithium carbonate sales volume [4][5]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 2.401 billion yuan, a year-on-year increase of 3.35% [4]. - The net profit attributable to shareholders reached 2.751 billion yuan, up 47.26% year-on-year [4]. - The adjusted net profit was 2.756 billion yuan, reflecting a 49.27% increase year-on-year [4]. - In Q3 2025, the company recorded a single-quarter revenue of 723 million yuan, a year-on-year growth of 28.71%, but a quarter-on-quarter decrease of 35.76% [4]. Product Performance - Potassium chloride sales volume for the first three quarters was 783,800 tons, a year-on-year increase of 9.6%, primarily due to the release of approximately 80,000 tons from national reserves [5]. - The average selling price of potassium chloride was approximately 2,920 yuan/ton, marking a year-on-year increase of 26.9% [5]. - Lithium carbonate sales volume decreased to 4,800 tons, down 53.0% year-on-year, with an average selling price of 67,300 yuan/ton, a decline of 24.6% [5]. Investment Gains - The company reported investment income of 1.95 billion yuan from its stake in Julong Copper Industry, a year-on-year increase of 43.1% [5]. - Julong Copper's copper production reached 142,500 tons, up 16.8% year-on-year, with sales volume of 142,400 tons, an 18.1% increase [5]. - The average selling price for copper was 83,000 yuan/ton, reflecting an 8.0% year-on-year increase, with a net profit per ton of 45,000 yuan, up 22.8% [5]. Project Developments - The company’s subsidiary, Cangge Lithium Industry, resumed production on October 11, 2025, following the acquisition of mining rights for various minerals [6]. - The company adjusted its 2025 lithium carbonate production and sales plan to 8,510 tons each [6]. - New projects include the completion of contracts for a photovoltaic power station at the Mami Cuo Salt Lake project and progress in the construction of a lithium hydroxide production line [6].

Core Viewpoint - Hainan Mining Co., Ltd. has announced the termination of its plan to issue shares and pay cash for the acquisition of assets, specifically the 68.04% stake in ATZ Mining Limited and the 51.52% stake in Felston Enterprises Limited, along with the associated fundraising [2] Group 1: Termination of Transaction - The company held meetings on September 30, 2025, where it approved the termination of the acquisition and fundraising plan [2] - The termination is in accordance with various regulatory guidelines and was officially disclosed on October 1, 2025 [2] Group 2: Insider Trading Self-Examination - The self-examination period for insider trading was from December 16, 2024, to September 30, 2025 [2] - The scope of the self-examination included natural persons and legal entities who had insider information regarding the transaction [3][5] Group 3: Insider Trading Findings - During the self-examination period, four natural persons and the company's repurchase account engaged in trading of the company's stock [4] - The company’s repurchase account bought shares as part of a previously announced buyback plan, which is compliant with legal regulations [6] Group 4: Independent Financial Advisor's Trading - Guotai Junan Securities Co., Ltd., the independent financial advisor for the transaction, also engaged in stock trading during the self-examination period, which was based on independent investment decisions [7] Group 5: Conclusion of Self-Examination - The company concluded that the trading activities of the involved parties did not constitute insider trading based on the declarations and commitments made by those involved [8]

格隆汇10月20日｜美国锑业公司(UAMY.US)盘初一度大涨超20%。消息上，此前该公司宣布一项收购矿 产资源勘探与评估企业Larvotto Resources的提议，旨在增强其关键矿物资产组合。该全股票出价为 Larvotto股东提供了溢价，反映了UAMY整合锑生产能力的战略重点。(格隆汇) ...

Market Overview - Investor sentiment has slightly improved ahead of the earnings season, with major U.S. stock index futures showing modest gains: Nasdaq 100 futures up 0.63%, S&P 500 futures up 0.50%, and Dow futures up 0.39% [1][3] - Gold prices have rebounded above $4,320 per ounce after a brief pullback [1] Earnings Season - The earnings season is entering a critical phase, with Tesla set to release its Q3 report on Wednesday, followed by Apple, Microsoft, Amazon, Meta, and Alphabet next week [3] Market Movements - The VanEck Vietnam ETF dropped nearly 6% due to a significant sell-off in the Vietnamese stock market, which had previously risen over 60% since April [3] - U.S. Antimony Corp. shares surged over 15% as it announced a full stock acquisition of Australian miner Larvotto, reigniting interest in U.S. rare earth stocks [3] Company News - BNP Paribas shares fell over 7% following a jury ruling related to its past operations in Sudan, which may lead to substantial settlement costs [5] - Amazon's AWS experienced a major service outage affecting numerous U.S. internet applications, including major brands like Lyft and Disney [6] AI Developments - The AI trading competition on the "Alpha Arena" platform has shown DeepSeek as the leading model, achieving a portfolio value of nearly $14,000 with a 40% return [7] - Microsoft has reportedly placed a wafer fabrication order with Intel for its next-generation AI chip, Maia 2 [8] Stock Performance - German submarine manufacturer Thyssenkrupp Marine Systems saw its stock price soar over 62% on its debut, reaching a market cap exceeding €6.2 billion [9] Product Sales - The iPhone 17 series has shown strong early sales in China and the U.S., outperforming the iPhone 16 series by 14% in the first 10 days post-launch, with average sales growth of 31% across both markets [10]

Core Viewpoint - Argentina has suspended export tariffs on soybeans, soybean meal, and soybean oil until October 31, creating a temporary cost advantage for global buyers, particularly benefiting Chinese companies facing low domestic soybean inventories [1][2]. Group 1: Policy Changes and Market Reactions - The suspension of the 26% export tax allowed Chinese buyers to quickly secure 10 vessels of soybeans, with potential orders increasing to 15 vessels, totaling over 2 million tons [1]. - The price of this batch of soybeans was nearly 200 RMB per ton lower than Brazilian prices, effectively supplementing domestic stocks and avoiding price volatility ahead of the U.S. harvest [2]. - However, the tax exemption was abruptly terminated when export declarations reached a $70 billion cap, leading to concerns about the completion of existing orders [2]. Group 2: U.S. Involvement and Conditions - Following a meeting between Argentine President Milei and U.S. President Trump, the U.S. announced plans to purchase Argentine pesos and initiate a $20 billion currency swap negotiation [2][4]. - The U.S. conditions for this support included terminating the currency swap agreement with China, reinstating and increasing agricultural export tariffs, expediting U.S. mining permits in Argentina, and linking financial aid to Milei's political future [4][5]. Group 3: Argentina's Economic Strategy - Argentina's economy minister emphasized the importance of the China-Argentina currency swap agreement, which has been in place since 2009 and has expanded significantly, providing crucial liquidity for imports and debt repayments [7]. - The bilateral trade relationship is underscored by China's dominance as the largest buyer of Argentine soybeans and its significant role in Argentine sorghum exports, with 99.2% of sorghum exports going to China [9]. Group 4: Infrastructure and Long-term Cooperation - Chinese investments in Argentina cover critical infrastructure projects, enhancing the country's energy and transportation sectors, which are vital for agricultural exports [9][11]. - The ongoing lithium mining project, supported by Chinese technology and funding, aims to increase local processing rates significantly, contrasting with U.S. demands for exclusive mining rights [13]. Group 5: Geopolitical Implications - The interplay between U.S. and Chinese interests in Argentina highlights the geopolitical tensions affecting trade dynamics, with Argentina caught between the two powers [15]. - The recent developments indicate a shift from purely market-driven interactions to a complex landscape involving financial, monetary sovereignty, and strategic resource considerations [15].

肖云表示，江西始终将科技创新摆在核心位置，新组建省国资委科技创新处，在全国地方国资系统率先 开展企业科技创新综合评价。建立研发投入刚性增长机制，并纳入企业年度综合考核体系。五年来，省 属企业共获国家和省级科学技术奖40余项，建立和运营各类创新平台120余个。 此外，积极推进江西国企"走出去"。赞比亚江西经济合作区建成营业，成为江西省首个省级境外经贸合 作区，目前已有19个项目签订投资入园协议，投资总额1.93亿美元。省属企业累计承接国际承包工程业 务46.87亿美元。江钨控股集团携手中非基金等多家金融机构，发起设立50亿元矿业基金，助力推动江 西省有色金属产业高质量发展。 同时，实现江西央企总部"零的突破"，推动了新钢集团与中国宝武联合重组。围绕江西省"1269"行动计 划，实施"争链主 强集群"行动，以江铜集团为支撑的鹰饶抚昌铜基新材料集群成功跻身"国家队"。开 展"省企入昌""省企入浔"等活动，共签约合作项目近200个，累计带动投资近4000亿元，为地市经济发 展注入了强劲动力。 人民网南昌10月20日电 (记者罗娜)20日，"十四五"江西省国资国企高质量收官新闻发布会在南昌举行， 记者从会上获悉，五年来 ...

Core Viewpoint - U.S. Antimony Corporation (UAMY.US) has seen a pre-market increase of over 14% following its announcement to acquire Australian miner Larvotto in an all-stock deal aimed at strengthening its critical mineral portfolio [1] Group 1 - The acquisition is intended to enhance U.S. Antimony's position in the critical minerals market [1] - The deal reflects a strategic move to consolidate resources and expand operational capabilities [1] - U.S. Antimony's stock performance indicates positive market sentiment regarding the acquisition [1]

格隆汇10月20日丨金徽股份(603132.SH)公布，自增持计划公布以来，截至本公告披露日，本次增持计 划的增持主体通过上海证券交易所交易系统以集中竞价交易方式累计增持公司股份50.97万股，累计增 持金额633.77万元，本次增持计划实施完毕。 ...

Core Viewpoint - Gao Peng Mining (02212) has successfully completed a placement agreement, with all conditions met by October 15, 2025, and the placement completed on October 20, 2025 [1] Summary by Relevant Sections - Placement Details - The placement agent successfully placed a total of 211 million shares at a price of HKD 0.133 per share to no fewer than six subscribers [1] - The shares placed represent approximately 16.7% of the company's issued share capital after the completion of the placement [1]

据山东产权交易中心公布的数据，2024年、2025年前5个月，马家寨矿业分别实现营业收入1568.56万元、263.94万元，分别亏损3145.36万元、657.77万 元，去年12月31日和今年5月31日，公司的资产总额分别为8176.44万元、7398.33万元，所有者权益分别为-180.78万元、-834.74万元。 转让公告显示，该项目挂牌价格为6295.06万元，其中马家寨矿业100%国有股权挂牌价格为133.848万元，债权挂牌价格为6161.22万元，其中济宁能源集 团对马家寨矿业享有的债权为5149.55万元，银行短期借款及利息为1011.67万元。(大众新闻.东烽财经记者) 10月16日，济宁能源发展集团有限公司(简称"济宁能源集团")全资子公司济宁矿业集团有限公司(简称"济宁矿业集团")在山东产权交易中心发布公告，将 所持新泰市马家寨矿业有限公司(简称"马家寨矿业")100%股权及6161.22万元债权公开转让，转让底价6295.06万元。 马家寨矿业2019年1月15日成立，注册资本1000万元，公司成立之初由自然人巩庆恩100%持股。2020年9月、202年11月、2024年1月，马家 ...