Core Viewpoint - Since 2025, control transactions of listed companies have become increasingly active, with a 140% increase in announcements compared to the same period last year, indicating a trend towards restructuring and transformation in various industries [1][2]. Group 1: Control Transactions Overview - As of June 2025, 72 listed companies disclosed announcements regarding control changes, up from 30 in the same period last year [1]. - In June alone, 22 companies announced control changes, compared to only 2 in June of the previous year [1]. - Among these transactions, 31 companies utilized voting rights arrangements, including voting rights abandonment and delegation, to achieve control [1]. Group 2: Company Characteristics - The 31 companies involved in control changes span 14 different industries, with notable representation from electronics, textiles, and machinery [2]. - The majority of these companies are small-cap private enterprises, with over 70% having a market capitalization below 5 billion [2]. - 15 of the 31 companies reported negative net profits for 2024, indicating poor performance, with 13 of these experiencing a year-on-year decline in net profit [3]. Group 3: Voting Rights Arrangements - Out of the 31 companies, 19 chose to abandon voting rights, while 11 opted for voting rights delegation [4][7]. - The average share transfer ratio for companies using voting rights abandonment is approximately 21.89%, while the average for those using voting rights delegation is about 11.68% [8][9]. Group 4: Transaction Pricing - Control transaction prices have seen an increase compared to last year, with typical prices for control ranging from 300 million to 1 billion, depending on the company's market conditions [12][15]. - The average transaction price for companies with total transaction amounts below 500 million is approximately 345 million, while those between 500 million and 1 billion average around 730 million [15]. - Notably, *ST Taihe's control transaction exhibited a high premium of 199.28%, while Suo Ao Sensor's transaction was at a discount of nearly 20% [19][21]. Group 5: Factors Influencing Pricing - Factors affecting control transaction pricing include the anticipated future value of the acquiring company's industry, existing company issues, and the original controlling shareholder's willingness to negotiate [24].

Group 1: Core Insights - The newly revised Mineral Resources Law aims to create a new policy framework for high-quality development in China's mining industry through market-oriented reforms, ecological restoration, and strategic resource security [1] - Western Mining, as a leading domestic mining enterprise, is positioned to benefit from multiple policy incentives due to its resource reserves and strategic layout capabilities [1] Group 2: Market and Regulatory Changes - The new law stipulates that mining rights will primarily be granted through competitive methods such as bidding and auction, reducing administrative intervention and enhancing market transparency [1] - The establishment of a "direct access" system for exploration rights to mining rights will significantly improve the efficiency of converting exploration rights into mining rights, thereby shortening development cycles [2] Group 3: Environmental and Financial Aspects - The new law emphasizes the ecological restoration responsibilities of mining rights holders throughout the lifecycle, allowing restoration costs to be included in production expenses, which supports compliant mining operations [2] - Western Mining has developed a mature ecological restoration system, exemplified by the Yulong Copper Mine expansion project, which balances environmental protection and development [2] Group 4: Strategic Resource Development - The new law includes copper, lead, and zinc in the list of strategic minerals, ensuring higher priority for development of Western Mining's key resources like Yulong Copper Mine and Xitie Mountain Lead-Zinc Mine [2] - The separation of mining rights from administrative licensing expiration enhances the stability of Western Mining's mining rights, reducing operational interruption risks [3] Group 5: Operational Efficiency and Growth Potential - Western Mining's dividend payout ratio for 2024 is projected to reach 81%, with the new law expected to further enhance asset liquidity and financing capabilities for expansion projects [3] - The company is leveraging its low-cost copper and salt lake resources to strengthen its competitive position, with ongoing training to adapt to regulatory requirements [3] Group 6: Future Outlook - Current copper prices are fluctuating at high levels, and with the new law's market-oriented policies taking effect, Western Mining is expected to release performance elasticity driven by resource reserves, policy incentives, and expansion plans [4] - The company is anticipated to play a more significant role in ensuring national resource security and promoting high-quality industry development [4]

Core Viewpoint - China Minmetals Corporation held a series of unveiling and signing activities in Xining, Qinghai, focusing on strategic cooperation and innovation in the development of rare metal resources [1] Group 1: Unveiling and Signing Activities - The unveiling ceremony for the Qinghai branch of the National Strategic Rare Metal Resource Efficient Development Technology Innovation Center was conducted by Chen Dexin, the Party Secretary and Chairman of China Minmetals, and Luo Dongchuan, the Governor of Qinghai Province [1] - The China Enfei Salt Lake Technology Research Institute was also unveiled, with Zhu Kebing, the General Manager of China Minmetals, and Zhang Jingang, the Executive Vice Governor of Qinghai Province, participating in the ceremony [1] - A series of strategic cooperation agreements were signed, including partnerships between China Minmetals and the Qinghai Geological and Mineral Exploration Development Bureau, as well as collaborations with the Chinese Academy of Sciences and Qinghai Salt Lake Industrial Group [1]

Core Viewpoint - The article discusses the annual support plans for underdeveloped counties in Sichuan, focusing on resource development and industry promotion in Liangshan Prefecture's Ganluo County, Ganzi Prefecture's Seda County, and Danba County, with specific initiatives tailored to each county's strengths and resources [6][7][8]. Group 1: Support Plans and Initiatives - The "1+N" support plan includes 8 initiatives for Ganluo County, 10 for Seda County, and 22 for Danba County, targeting resource development and industry enhancement [5][7]. - Ganluo County's initiatives focus on lead-zinc resource allocation, provincial development zone creation, and mineral resource exploration [8][12]. - Danba County aims to develop its geothermal resources and enhance its unique resource advantages, including nickel mining [10][11]. Group 2: Resource Development and Economic Impact - Ganluo County has rich mineral resources, with confirmed reserves of lead, zinc, copper, and aluminum, and successfully auctioned three provincial mining rights, generating 1.52 billion yuan in revenue [7][8]. - The article emphasizes the importance of transforming local resources into sustainable economic advantages, with a focus on developing the mining and tourism sectors [8][13]. - Seda County is accelerating its tourism development, with a focus on enhancing public cultural services and integrating tourism with local industries [13][14]. Group 3: Technical and Infrastructure Support - The article highlights the use of advanced technologies, such as satellite remote sensing and drones, to support local development and disaster prevention efforts in Danba County [11][12]. - The Sichuan Natural Resources Department is committed to providing technical support and training to enhance local capabilities in disaster prevention and resource management [14]. - Infrastructure improvements and land use guarantees are critical for the successful implementation of projects in the underdeveloped counties [14].

Summary of Key Points Core Viewpoint The company has revised its Articles of Association to align with current laws and regulations, ensuring the protection of the rights of shareholders and creditors while standardizing corporate governance practices. Group 1: Revision of Articles of Association - The company held a board meeting on June 26, 2025, to approve the amendments to the Articles of Association [1] - The amendments include changing "shareholders' meeting" to "shareholders' assembly" and updating various clauses to comply with the latest legal requirements [1][2] - Specific changes include the definition of the legal representative and the responsibilities associated with their role [3][4] Group 2: Shareholder Rights and Responsibilities - The revised Articles clarify that shareholders have the right to sue the company and its directors for breaches of duty [5][6] - Shareholders are entitled to dividends and other benefits proportional to their shareholdings [9] - The amendments emphasize the obligation of shareholders to comply with laws and not to abuse their rights to the detriment of the company or other shareholders [12][13] Group 3: Corporate Governance and Decision-Making - The board of directors is responsible for convening shareholder meetings and must do so within specified timeframes [23][24] - The Articles outline the conditions under which the company can provide financial assistance or guarantees, requiring shareholder approval for significant transactions [21][22] - The company must disclose information regarding major transactions and ensure compliance with regulatory requirements [20][21]

及提交法律文件的有效性的说明 新疆宝地矿业股份有限公司（以下简称"公司"）拟通过发行股份及支付现 金的方式向克州葱岭实业有限公司购买新疆葱岭能源有限公司（以下简称"葱岭 能源"）82%股权、拟通过支付现金的方式向JAAN INVESTMENTS CO. LTD.购 买葱岭能源5%股权，并向包括新疆地矿投资（集团）有限责任公司在内的不超 过35名符合中国证监会条件的特定投资者发行股份募集配套资金（以下简称"本 次交易"）。 根据《公司法》《证券法》《上市公司信息披露管理办法》《上市公司监 管指引第9号——上市公司筹划和实施重大资产重组的监管要求》等相关法律法 规和规范性文件的相关规定，上市公司董事会就本次交易履行法定程序的完备 性、合规性及提交的法律文件的有效性进行了认真审核，特说明如下： 新疆宝地矿业股份有限公司董事会 关于本次交易履行法定程序的完备性、合法性 本次交易已经履行的决策程序及报批程序如下： 议案，独立董事已召开了独立董事专门会议并对相关事项形成审核意见； 及相关议案，独立董事已召开了独立董事专门会议并对相关事项形成审核意见； 致行动人吐鲁番金源矿冶有限责任公司原则性同意； 特此说明。 （二）本次 ...

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 每股分配比例 A股每股现金红利0.0375元（含税） 本次利润分配方案已经公司2025年4月18日的2024年年度股东大会审议通过。 二、分配方案 1.发放年度：2024年年度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分公司（以下简称 中国结算上海分公司）登记在册的本公司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本800,000,000股为基数，每股派发现金红利0.0375元（含税）， 共计派发现金红利30,000,000元（含税）。 三、相关日期 1.实施办法 公司全体股东的红利均委托中国结算上海分公司通过其资金清算系统向股权登记日上海证券交易所收市 后登记在册并在上海证券交易所各会员办理了指定交易的股东派发。已办理指定交易的投资者可于红利 发放日在其指定的证券营业部领取现金红利，未办理指定交易的股东红利暂由中国结算上海分公司保 管，待办理指定交易后再进行派发。 2.自行发放对象 无 3. ...

Core Insights - The "2025 Fourth Asian Mining Innovation Development Summit" successfully took place, focusing on mining rights exchange and cooperation opportunities between China and Kazakhstan [1][3]. Group 1: Event Overview - The event was hosted by the China Asia Economic Development Association and featured various mining rights projects, generating significant interest among attendees [1][3]. - The summit included presentations from experts and representatives from multiple countries, highlighting the importance of international collaboration in the mining sector [3][5]. Group 2: Kazakhstan's Mining Potential - Kazakhstan's Aktobe region is a strategic area for mineral resources, possessing 63 deposits and 17 types of minerals, with chromium ore reserves accounting for over 30% of global supply [5]. - The region is promoting the auction of 14 solid mineral deposits, including strategic resources like chromium, manganese, and asbestos, with total reserves exceeding ten million tons [5]. - Aktobe's industrial and free economic zones offer significant tax incentives, successfully attracting 29 mining projects [5]. Group 3: Mining Rights Projects - The summit featured 13 mining rights projects from various countries, including six from Mongolia, two from Zambia, one from Kyrgyzstan, and four domestic projects [6]. - Notable projects included gold, iron, and rare earth mines from Mongolia, as well as copper and iron projects from Zambia [6][10][14]. Group 4: China's Mining Resources - China has a diverse range of mineral resources, with provinces like Heilongjiang and Inner Mongolia having rich deposits of coal, molybdenum, graphite, gold, and rare earth elements [8][12]. - The event showcased several domestic mining projects, emphasizing the country's potential in the global mining landscape [12][20]. Group 5: Mongolia's Mining Strategy - Mongolia has over 80 types of mineral resources and is implementing a mining-driven economic strategy, with mining being a crucial pillar of its economy [14][16]. - The country has seen increased foreign investment in its mining sector since the implementation of the Mining Law in 1997, highlighting its untapped resource potential [18][20].

Core Viewpoint - The Democratic Republic of the Congo (DRC) is becoming increasingly significant in the global economy due to its rich cobalt and copper reserves, essential for the battery manufacturing in the new energy sector, especially as traditional oil reserves lose their importance [1][3]. Group 1: Economic Context - The DRC has substantial mineral resources, particularly cobalt and copper, ranking high globally, with cobalt being crucial for new energy battery production [3]. - Despite the wealth of resources, the local population has historically lived in poverty, benefiting little from these natural riches until Chinese investments began to develop the mining sector and infrastructure [3][6]. Group 2: Sino-Congolese Relations - The DRC has a long-standing cooperative relationship with China, particularly in mineral development, highlighted by a $7 billion infrastructure financing agreement signed in early 2024 [4]. - Recently, the DRC has expressed dissatisfaction with the current situation, feeling that most benefits are captured by Chinese companies, prompting a review of existing agreements and outreach to the U.S. for potential support [6][4]. Group 3: U.S. Involvement and Risks - The DRC's shift towards seeking U.S. support raises questions about its strategic intentions, as it may be attempting to leverage its mineral resources to enhance bargaining power against China [4][12]. - However, the U.S. has shown a lack of commitment to substantial investments in African infrastructure and mining, raising concerns about the DRC's expectations from this potential partnership [9][15]. Group 4: Strategic Implications - The DRC's strategy of balancing relations between China and the U.S. is seen as risky, especially given the internal instability and ongoing conflicts within the country [12][14]. - The global demand for cobalt and lithium is significant, but the DRC does not hold a decisive advantage as other regions also possess these resources, and China's established global partnerships mitigate the DRC's leverage [17].

Group 1 - The company held its 15th temporary meeting of the 9th Supervisory Board on May 13, 2025, with all members present and in compliance with legal regulations [1][2] - The Supervisory Board approved adjustments to the second employee stock ownership plan, including an increase in the number of participants from a maximum of 210 to 214 [2] - New participants added to the employee stock ownership plan include Mr. Cao Sanxing, Mr. Li Jianchang, Ms. Zhang Liping, and Ms. Xiao Yao, all of whom meet the eligibility criteria [1][2] Group 2 - The adjustments made to the employee stock ownership plan are in accordance with relevant laws and regulations, as well as the authorization from the 2024 annual shareholders' meeting [1][2] - The voting results for the proposal were 2 votes in favor, 0 against, and 1 abstention, with one supervisor recusing themselves due to a conflict of interest [2]