Core Viewpoint - The announcement by the Ministry of Finance and the State Taxation Administration marks a significant improvement in the practical implementation of the resource tax system in China, providing clearer guidelines for both taxpayers and tax authorities, thereby promoting green development and efficient resource utilization [1][3]. Group 1: Policy Implementation - The new announcement addresses key issues that have arisen since the implementation of the Resource Tax Law, including disputes over taxable product classifications and unclear definitions, thus providing precise guidance for tax collection [1][2]. - The announcement clarifies that certain products, such as confiscated taxable products and minerals used for backfilling in construction projects, will not be subject to resource tax, which helps delineate the boundaries of tax applicability [1][2]. Group 2: Tax Classification - The announcement specifies that condensate oil will be taxed under the crude oil category, while oil and gas field mixed light hydrocarbons will be taxed according to both crude oil and natural gas categories, based on the defined standards [2]. - For tailings utilization products, the announcement distinguishes between two scenarios: specific mineral components will be taxed according to their respective mineral categories, while sand and gravel products will be taxed under the sand and gravel category [2]. Group 3: Impact on Industry - The clarification of tax regulations is expected to unify tax collection standards across regions, reducing disputes arising from differing interpretations and significantly enhancing tax collection efficiency [3]. - The implementation of these policies is anticipated to further highlight the role of resource tax in regulating resource development and promoting green production practices [3].

Core Viewpoint - The Hang Seng Index rose by 0.67% on December 1, with southbound capital recording a total transaction amount of HKD 85.91 billion, resulting in a net inflow of HKD 2.15 billion [1][2] Southbound Capital Activity - Total transaction amount for southbound capital was HKD 85.91 billion, with buy transactions at HKD 44.03 billion and sell transactions at HKD 41.88 billion, leading to a net buy of HKD 2.15 billion [1] - Breakdown of transactions shows that the Shenzhen Stock Connect had a total transaction amount of HKD 31.81 billion, with net buying of HKD 2.91 billion, while the Shanghai Stock Connect had a total transaction amount of HKD 54.10 billion, resulting in a net sell of HKD 0.76 billion [1] Active Stocks - Alibaba-W was the most actively traded stock with a total transaction amount of HKD 11.07 billion and a net buy of HKD 1.32 billion, closing up by 2.24% [1][2] - Other notable stocks included Meituan-W and Xiaomi Group-W, with transaction amounts of HKD 4.50 billion and HKD 4.17 billion, respectively [1][2] - Net buying was observed in 8 stocks, with Alibaba-W leading at HKD 1.32 billion, followed by ZTE Corporation at HKD 0.61 billion and Meituan-W at HKD 0.60 billion [1][2] Continuous Net Buying and Selling - Alibaba-W, Pop Mart, and Meituan-W have seen continuous net buying for over three days, with Alibaba-W leading at a total net buy of HKD 27.87 billion [2] - Conversely, SMIC and Zijin Mining experienced continuous net selling, with total net sells of HKD 24.96 billion and HKD 7.35 billion, respectively [2]

智通财经APP讯，MONGOL MINING(00975)发布公告，于2025年12月1日，该公司斥资410.95万港元回 购39.6万股股份，每股回购价10.31-10.4港元。 ...

新华财经香港12月1日电（记者林迎楠）12月1日港股主要指数高开，截至收盘，恒生指数上涨0.67%至 26033.26点，恒生科技指数上涨0.82%至5644.76点，国企指数上涨0.47%至9172.84点。 个股方面，腾讯控股涨1.31%，中兴通讯涨13.94%，泡泡玛特跌4.27%，紫金矿业涨5.28%，中芯国际涨 0.94%，建设银行跌0.24%，中国财险跌2.72%，耀才证券金融跌5.93%，中国黄金国际涨11.37%，五矿 资源涨12.88%，中国石油股份涨1.15%，中国移动涨0.52%，理想汽车跌2.29%，比亚迪股份涨0.46%。 成交额前三的个股中，阿里巴巴涨2.24%，成交超144亿港元；美团跌2.88%，成交超86亿港元；小米集 团跌1.76%，成交超78亿港元。 （文章来源：新华财经） 当日恒指高开86.98点，开报25945.87点，开盘迅速拉高至当日最高26179.72点，随后回落，午后先跌后 涨，最终恒指涨174.37点，主板成交超2008亿港元。截至收盘，上涨股票1167只，下跌1015只，收平 1043只。当日，港股通（南向）净流入超21亿港元。 整体来看，多数板块上涨，科 ...

格隆汇12月1日丨MONGOL MINING(00975.HK)公告，12月1日耗资411万港元回购39.6万股，回购价格 每股10.31-10.4港元。 ...

智通财经APP讯，湖南白银(002716.SZ)发布公告，全资子公司宝山矿业年度检修已于2025年11月30日完 成，现已恢复生产。 ...

调研活动基本信息 12月1日，盛达金属资源股份有限公司（下称"盛达资源"）在公司会议室以现场会议形式接待了特定对 象调研，中信证券（陈剑凡）、中信资管（焦天枨）2家机构参与。公司董事会秘书王薇、证券事务代 表孙梦瀛及投资者关系经理丛鹏出席，就公司矿山产能规划、产品产量、成本控制等核心问题与机构进 行深入交流。 核心调研要点解析 白银产能扩张：东晟矿业25万吨项目2026年力争投产 针对未来白银产量预期，公司介绍，东晟矿业巴彦乌拉银多金属矿25万吨/年采矿项目正在建设中，该 矿已取得《采矿许可证》，银金属平均品位达284.90克/吨。公司力争2026年完成建设，实现"早投资、 早收益"，投产后将显著提升公司银金属产量。此外，金山矿业生产能力将逐步递增至采矿许可证核准 的48万吨/年，并计划根据资源情况申请扩大生产规模；银都矿业正推进采矿权与外围1.43平方公里探 矿权整合，整合完成后白银产量亦有望获得补充。 关于营收结构，公司提到，因矿山位于内蒙古中东部受气候影响，一季度矿山产品产出较少，营收主要 依赖前一年未发货库存出售及已发货库存的跨期结算。产品计价方面，铅锌精粉含银、银精粉含金部 分，按上海黄金交易所、上 ...

Group 1 - The article discusses the recent activities and investments of Duan Liping, the brother of the well-known investor Duan Yongping, highlighting his increasing presence in the capital market [5][6][10] - Duan Liping has been actively increasing his stake in Guocheng Mining, which has seen a significant stock price surge of approximately 127% from 13.63 CNY to a peak of 31.04 CNY per share [11][12] - The article notes that Duan Liping and his family members have collectively increased their holdings in Guocheng Mining to 1.64%, with a market value that soared to approximately 5.73 billion CNY during the recent stock price rally [13][14] Group 2 - Duan Liping remains active in the business sector, contrasting with his brother Duan Yongping, who has largely withdrawn from direct business operations [15][16] - Duan Liping has a background in water resources economics and has held various managerial positions in companies related to the BuBuGao group, indicating his ongoing involvement in the family business [17][18] - The article emphasizes that while Duan Yongping has stepped back from operational roles, the Duan family continues to maintain a presence in the market through Duan Liping's activities [18] Group 3 - Duan Liping has collaborated with other members of the BuBuGao group, such as Zhang Yuan, to acquire control of listed companies like Liyuan Co., which was purchased for 38 million CNY [20][21] - The acquisition of Liyuan Co. is seen as a strategic move to enter the automotive supply chain, a sector currently experiencing significant growth [24] - The article suggests that the previous owners of Liyuan Co. sold their stake at a low price due to financial difficulties, allowing Duan Liping and his associates to capitalize on the opportunity [23][24]

证券代码：000603 证券简称：盛达资源 盛达金属资源股份有限公司投资者关系活动记录表 编号：2025-009 投资者关系活 动类别 √特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 活动参与人员 中信证券（陈剑凡）、中信资管（焦天枨） 时间 2025 年 12 月 1 日 地点 公司会议室 形式 现场会议 上市公司接待 人员姓名 董事会秘书 王薇 证券事务代表 孙梦瀛 投资者关系经理 丛鹏 交流内容及具 体问答记录 一、公司董事会秘书王薇向投资者介绍了公司基本情况 二、问答交流环节 问：未来三年白银产量预计？ 东晟矿业巴彦乌拉银多金属矿 25 万吨/年采矿项目正在建设中， 建成投产后会给公司银金属产量带来增长。金山矿业生产能力将逐 渐递增至采矿许可证核准的生产规模 48 万吨/年，并将进一步根据 资源情况申请扩大生产规模。银都矿业目前正在做采矿权与外围 1.43 平方公里探矿权的整合工作，矿业权整合完成后，银都矿业的 银金属产量亦可得到一定的补充。 问：鸿林矿业试生产产品的金属品位？ 目前试运行生产的铜金混合精粉中，每吨含金金属 90-100 克。 问： ...

格隆汇12月1日｜上周五(11月28日)收涨0.8%的淡水河谷(VALE.US)今日美股盘前续涨1.03%报12.74美 元。消息面上，淡水河谷宣布，得益于今年强劲的运营表现和铁矿石价格高企，将向股东支付特别股 息。公司上周四发布公告，该公司董事会批准在明年1月和3月分批支付每股3.58雷亚尔的特别股息。总 计153亿雷亚尔(约合29亿美元)的派发总额将大致相当于该公司第三季度的净利润。 淡水河谷首席财务官马塞洛·巴奇(Marcelo Bacci)10月下旬曾向投资者透露，鉴于铁矿石价格持续维持在 每吨100美元上方，淡水河谷很可能宣布特别股息。他在季度业绩说明会上表示，运营表现正创造非常 良好的现金流状况，这一情况优于年初预期。(格隆汇) 来源：格隆汇APP ...