Group 1 - The company, Northern Mining (00433), expects to achieve a net profit for the six months ending June 30, 2025, compared to a net loss in the same period last year [2] - The company anticipates that its revenue for the current period will increase by no less than 45% compared to the same period last year [2] - The positive performance is primarily attributed to the full recovery of mining operations, leading to significant improvements in capacity and operational efficiency, which in turn has transformed financial results from loss to profit [2]

Core Viewpoint - Northern Mining (00433) anticipates a return to profitability for the six months ending June 30, 2025, compared to a net loss in the same period last year, driven by a significant recovery in mining operations [1] Financial Performance - The company expects its revenue for the current period to increase by no less than 45% compared to the same period last year [1] - The anticipated positive performance is primarily attributed to the full recovery of mining operations, leading to substantial improvements in capacity and operational efficiency [1] Operational Impact - The stabilization of mining operations is expected to have a significant positive impact on the overall performance of the company [1]

近日，从西藏自治区自然资源厅获悉，西藏近年来将绿色矿山建设作为推进生态文明高地建设、高原经 济高质量发展的重要支撑，着力在制度标准、生态保护、安全生产等方面下功夫，实现绿色矿山建设从 试点探索迈向全面推进。 在推动经济发展与民生改善方面，西藏绿色矿山企业积极引进先进技术与工艺，提升开采回采率、选矿 回收率、综合利用率。2024年，西藏绿色矿山工业产值达179亿元、纳税达28亿元，带动周边3000余名 群众就近就业，实现了企业增产、地方增税、群众增收。 在加强监督管理方面，西藏构建全过程闭环式监管格局，在绿色矿山遴选阶段实施严格多部门逐级联合 审查机制，确保遴选过程科学严谨、公平公正。同时，西藏注重日常管理，每年抽取一定比例的绿色矿 山进行实地综合核查，组织第三方定期评估，利用全国矿业权人勘查开发信息公示系统开展在线监管， 畅通公众监督举报渠道，对管理松懈、问题突出的，采取限期整改、移出名录、信用惩戒、行政处罚等 措施，推动绿色矿山建设从追求"达标"向争创"优质"升级。 在强化生态保护方面，西藏严格落实"谁开发谁保护、谁破坏谁治理"的要求，引导绿色矿山企业累计投 入9亿余元，完成矿区生态修复1100余万平方米； ...

"教堂搬家"只是城镇整体东移的一环，相关计划早在2004年就已推出。基律纳铁矿资源丰富，近年随着开采工作的深入，当地 建筑与道路已经出现明显的裂痕，整体东移旨在预防建筑地基塌陷等事故。截至今年7月，基律纳已经有25栋建筑采用同样的 办法完成了搬迁。（刘皓然） 据《瑞典先驱报》报道，连日来，基律纳这座常住人口仅2.3万的矿业小镇人头攒动，数千名游客"空降"此地，只为了观看"大 教堂搬家"。基律纳大教堂始建于1909年，1912年完工，是瑞典矿业公司"基律纳山（LKAB）"赠送给当地社区的礼物。教堂的 建筑风格深受当地原住民萨米族人尖顶帐篷的影响，还融入了哥特以及巴洛克元素，曾被瑞典人评为"1950年以前落成的最佳 建筑"，迄今仍然是知名旅游景点。 美联社称，"教堂搬家"在当地堪称一项大工程：整座教堂宽40米、总重达672吨，为此工程师特意将"搬迁"用的道路拓宽，甚 至拆掉了必经之路上的一座高架桥。19日上午，施工人员将整座教堂建筑放置在巨大的滑轮装置上，沿既定路线缓慢迁移。由 于移动时速较慢，这段总长5公里的"平移"要一直持续到20日。《瑞典先驱报》称，这场盛事吸引了约40家国内外媒体的现场 直播与报道，瑞典古 ...

Core Viewpoint - The company, Sichuan Anning Titanium Iron Co., Ltd., is undergoing a significant asset acquisition, with the evaluation of the target asset, Jingzhi Mineral, showing a substantial increase in value through both asset-based and income approaches, indicating strong potential for future profitability [1][3][20]. Group 1: Asset Evaluation - The asset evaluation as of March 31, 2025, indicates an increase of 484,290.09 million yuan, with an appreciation rate of 1,831.95% using the asset-based method [3][20]. - The evaluation of finished products is based on a detailed report that estimates the low-grade ore stockpile at 57,961.3 thousand tons, with iron and titanium grades of 15.22% and 5.61%, respectively [3][5]. - The income approach assumes that the acquisition will enable the company to leverage synergies, leading to enhanced operational efficiency and profitability [9][20]. Group 2: Financial Metrics - The expected sales revenue from the processed products is calculated to be 742,908.00 million yuan, based on the estimated production of iron and titanium concentrates [6][20]. - The operating costs and investments are derived from a feasibility report, with total costs including construction investment of 23,060.00 million yuan and taxes of 27,543.00 million yuan [6][20]. - The net profit is projected after deducting taxes and appropriate profit margins, leading to a final evaluation value of 131,959.00 million yuan for the finished products [7][20]. Group 3: Methodology and Assumptions - The evaluation methods employed include both the asset-based approach and the income approach, with the latter considering specific synergies from the acquisition [10][20]. - Key parameters for the income approach include a discount rate of 9.61%, which reflects the weighted average cost of capital (WACC) and is justified by recent comparable cases in the industry [15][20]. - The differences in valuation results between the two methods are attributed to the expected operational synergies and the specific management capabilities of Anning Co. post-acquisition [11][20].

Group 1: Retail Sales - In July 2025, the total retail sales of consumer goods reached 38,780 billion yuan, with a year-on-year growth of 3.7%. Excluding automobiles, retail sales amounted to 34,931 billion yuan, growing by 4.3% [2][4] - From January to July 2025, the total retail sales of consumer goods reached 284,238 billion yuan, with a growth rate of 4.8%. Excluding automobiles, retail sales were 257,014 billion yuan, growing by 5.3% [2][4] Group 2: Fixed Asset Investment - From January to July 2025, national fixed asset investment (excluding rural households) totaled 288,229 billion yuan, with a year-on-year growth of 1.6%. Private fixed asset investment decreased by 1.5% [5][6] - In July 2025, fixed asset investment (excluding rural households) decreased by 0.63% month-on-month [6] - By industry, the first industry saw an investment of 5,646 billion yuan (growth of 5.6%), the second industry 104,455 billion yuan (growth of 8.9%), and the third industry 178,128 billion yuan (decline of 2.3%) [6] Group 3: Industrial Production - In July 2025, the industrial added value of enterprises above designated size grew by 5.7% year-on-year, with a month-on-month increase of 0.38% [7][8] - From January to July 2025, the industrial added value increased by 6.3% year-on-year [8] - By sector, mining industry added value grew by 5.0%, manufacturing by 6.2%, and electricity, heat, gas, and water production and supply by 3.3% [8] Group 4: Energy Production - In July 2025, the production of crude oil was stable, with an output of 1,812 million tons, a year-on-year increase of 1.2% [17] - Natural gas production accelerated, reaching 216 billion cubic meters in July, with a year-on-year growth of 7.4% [19] - Electricity production increased by 3.1% year-on-year in July, totaling 9,267 billion kilowatt-hours [21]

Economic Growth - In July 2025, China's industrial added value grew by 5.7% year-on-year, slowing down by 1.1 percentage points from June[9] - Fixed asset investment from January to July 2025 increased by 1.6% year-on-year, a decrease of 1.2 percentage points compared to the first half of the year[10] - Social retail sales in July 2025 rose by 3.7% year-on-year, down 1.1 percentage points from the previous month[10] Trade and Exports - In July 2025, China's total exports reached $321.78 billion, a year-on-year increase of 7.2%, up 1.4 percentage points from the previous month[38] - Imports totaled $223.54 billion in July 2025, with a year-on-year growth of 4.1%[51] - The trade surplus for July 2025 was $98.24 billion[38] Inflation and Prices - The Consumer Price Index (CPI) in July 2025 showed no growth year-on-year, a decrease of 0.1 percentage points from the previous month[57] - The Producer Price Index (PPI) fell by 3.6% year-on-year, remaining stable compared to the previous month[57] Monetary Policy - New social financing in July 2025 was 1.16 trillion yuan, a decrease of 64.8% compared to July 2024[14] - New RMB loans in July 2025 were -50 billion yuan, a drop of 119% year-on-year[14] - M2 money supply grew by 8.8% year-on-year, reflecting a stable expansion of monetary supply[15]

Economic Performance - July industrial added value grew by 5.7% year-on-year, down 1.1 percentage points from June and slightly below the consensus expectation of 5.8%[4] - Retail sales in July increased by 3.7% year-on-year, a decline of 1.1 percentage points from June, with non-automotive retail sales growing by 4.3%[12] - Fixed asset investment from January to July showed a cumulative year-on-year growth of 1.6%, with private investment declining by 1.5%[23] Sector Analysis - From January to July, manufacturing investment rose by 6.2%, while real estate investment fell by 12.0%[25] - High-tech industries saw a cumulative year-on-year growth of 9.5% in industrial added value, indicating resilience in this sector[7] - Service consumption in July grew by 5.2% year-on-year, supported by strong demand during the summer travel season[15] Challenges and Risks - Economic data for July reflects significant downward pressure on growth, influenced by complex external conditions and adverse domestic weather factors[34] - Price factors continue to drag down nominal growth rates in retail sales and fixed asset investment[34] - Risks include potential global inflation resurgence and rapid economic downturns in Europe and the U.S.[36] Policy Recommendations - The report suggests that proactive macroeconomic policies are essential to stimulate domestic demand and support growth[35] - Attention should be given to the implementation of consumption loan interest subsidies and the impact of U.S.-China trade negotiations on foreign trade dynamics[35]

Core Viewpoint - In July, Henan Province's industrial added value experienced a year-on-year real growth of 8.8%, indicating a robust industrial performance despite economic challenges [1] Summary by Categories Industrial Growth - From January to July, the industrial added value above designated size in Henan grew by 8.5% year-on-year [1] - In July, the mining industry saw an added value growth of 3.5% [1] - The manufacturing sector recorded an increase of 8.7% in added value [1] - The electricity, heat, gas, and water production and supply industry experienced a significant growth of 14.5% [1]

大象新闻记者 张华婧 8月19日，河南省统计局发布一组最新数据。 2025年1-7月份，全省固定资产投资(不含农户)同比增长5.6%。其中，民间投资增长8.5%。 分产业看，第一产业投资同比增长3.8%，第二产业投资增长23.4%，第三产业投资下降3.5%。 从三大主要领域看，工业投资同比增长23.4%，基础设施投资(不含电力、热力、燃气及水生产和供应业)下降8.0%，房地产开发投资下降8.0%。 工业投资中，采矿业投资同比增长27.9%，制造业投资增长22.7%，电力、热力、燃气及水生产和供应业投资增长25.9%。 基础设施投资中，水利、环境和公共设施管理业(不含土地管理业)投资同比增长1.6%，交通运输和邮政业投资下降20.6%，信息传输业投资下降15.8%。 从隶属关系看，中央项目投资同比增长4.4%，地方项目投资增长5.6%。 | St Home L + 1 1 4 M Ind Ver on 1 1 Habel | Harrest | | --- | --- | | 指 标 | 2025年1-7月份 | | | 同比增长(%) | | 固定资产投资(不含农户) | 5.6 | | 其中:国有控股 | ...