Group 1 - The company, Yuegui Co., Ltd. (SZ 000833), announced the appointment of Mr. Jian Yi as the securities affairs representative to assist the board secretary in fulfilling responsibilities [2] - For the fiscal year 2024, the revenue composition of Yuegui Co., Ltd. is as follows: mining industry accounts for 31.79%, sugar manufacturing for 19.37%, paper industry for 18.11%, chemical industry for 12.03%, trading for 10.7%, and other industries for 8.02% [2]

每经编辑｜金冥羽 8月2日晚，驻马里使馆再次提醒全体在马中国公民加强安全防护、采金企业和人员立即停工撤离并报备信息。 近期，马里首都巴马科以外针对外国企业和人员的绑架、袭击等恶性事件频发，造成严重后果，安全风险进一步升高。 驻马里使馆再次郑重提醒： 一、全体在马中国公民采取一切必要措施加强安全防护。避免去往郊区、独自出行或夜间出行。如条件允许，尽快撤离至巴马科等相对安全地区。 如遇绑架、抢劫等危急情况，应保持冷静，避免过激行为，务必将确保人身安全放在首位，在保证自身安全前提下择机逃离，及时报警并与中国驻马里使 馆取得联系。 马里报警电话：17、80333、80001115 外交部全球领事保护与服务应急呼叫中心电话：+86-10-12308或+86-10-65612308 驻马里使馆领保电话：+223-78110040 驻马里使馆 2025年8月2日 据中国驻马里使馆7月24日消息，根据马里政府要求，在今年9月30日之前暂停一切采金活动。中方采金企业须立即停工停产，采金人员应立即撤离矿区。 据商务部网站，马里共和国（La République du Mali），简称马里，是西部非洲内陆国家，国土面积在西非排名第 ...

Employment Data Summary - In July 2025, the U.S. non-farm payrolls increased by 73,000, significantly below the expected 110,000, and the previous value was revised down from 147,000 to 14,000[1][11]. - The unemployment rate in July 2025 was 4.2%, matching expectations but up from the previous 4.1%[1][14]. - Average hourly earnings rose by 3.9% year-on-year, exceeding the expected 3.8% and revised from a previous increase of 3.7%[1][14]. Data Revision Insights - The June non-farm payrolls were revised down by a total of 258,000, with significant downward adjustments in government, leisure, and construction sectors, accounting for 90,000 of the total revision[2][12]. - The downward revision reflects the impact of tariffs on the U.S. economy, indicating a decline in the accuracy of the "birth-death model" used for employment predictions[2][5]. Sector Performance - In July, the financial activities, education, and healthcare sectors added 15,000, 79,000, and 16,000 jobs respectively, showing stability in service sector demand[3][27]. - The goods-producing sector continued to show negative job growth for three consecutive months, indicating weak production intentions among businesses[3][28]. Labor Market Dynamics - The labor force participation rate fell to 62.2% in July, down from 62.3% in June, with a notable decline in employment willingness among younger demographics[4][35]. - The number of unemployed individuals increased by 221,000 in July, contributing to the rise in the U3 unemployment rate to 4.2%[4][35]. Economic Outlook - The Federal Reserve is expected to initiate rate cuts, with market predictions indicating three rate cuts in 2025, starting in September with an 83.4% probability[5][26]. - The overall economic environment remains challenging, with the second quarter GDP growth at 3.0%, driven by a "import rush" effect, but core GDP growth showing signs of decline[5][23].

Report Industry Investment Rating No relevant content provided. Core Viewpoints of the Report - The GDP growth in Q2 2025 met market expectations, but the fixed - asset investment, social consumption, and real estate sectors faced challenges. The export and industrial added - value in June exceeded expectations. The domestic real estate market continued to decline, and the Chinese economy may face challenges in maintaining rapid growth in the second half of the year, requiring continuous efforts to expand domestic demand. The "anti - involution" policies may have a more moderate and long - term impact. Policy decisions may be made based on economic changes, and new policies may be introduced at the end of the third quarter or the beginning of the fourth quarter [84]. Summary by Related Content GDP and Industry Contribution - In Q2 2025, China's GDP grew 5.2% year - on - year, meeting market expectations. The GDP grew 5.3% year - on - year in the first half of the year. The primary, secondary, and tertiary industries grew 3.8%, 4.8%, and 5.7% year - on - year respectively in Q2. The contributions of the three industries to GDP in Q2 were 4.6%, 34.2%, and 61.2% respectively [4][6]. GDP Growth Contribution Factors - In Q2 2025, the contributions of final consumption expenditure, capital formation, and net exports of goods and services to GDP growth were 52.3%, 24.7%, and 23.0% respectively [9]. GDP Deflator - The GDP deflator in Q2 2025 decreased 1.20% year - on - year, showing a negative growth for nine consecutive quarters since Q2 2023 [12]. Fixed - Asset Investment - In the first half of 2025, the national fixed - asset investment grew 2.8% year - on - year, lower than the market expectation of 3.7%. General infrastructure investment (including power) grew 8.9% year - on - year, while narrow infrastructure investment (excluding power) grew 4.6% year - on - year. Manufacturing investment grew 7.5% year - on - year, and real estate development investment decreased 11.2% year - on - year [15]. Real Estate Market - In the first half of 2025, the sales area of new commercial housing decreased 3.5% year - on - year, and the sales volume decreased 5.5% year - on - year. In June, the second - hand housing prices in first - tier cities decreased 0.7% month - on - month, and those in second - and third - tier cities decreased 0.6% month - on - month. In July, the decline rate of national new housing sales area accelerated [18][21][23]. Social Consumption - In June 2025, the total retail sales of consumer goods grew 4.8% year - on - year, lower than the market expectation of 5.6%. The growth rates of most categories of consumer goods in units above the designated size decreased compared with May [26][28]. Service Industry - In June 2025, the service industry production index grew 6.0% year - on - year. The growth rates of information transmission, software and information technology services, leasing and business services, and wholesale and retail industries were relatively high [30]. Foreign Trade - In June 2025, China's exports in US dollars grew 5.8% year - on - year, and imports grew 1.1% year - on - year. Exports to ASEAN and the EU increased, while exports to the US decreased. In July, the China Containerized Freight Index (CCFI) declined slightly, and the decline of the US - West route was faster [33][36][38]. Industrial Sector - In June 2025, the added - value of industrial enterprises above the designated size grew 6.8% year - on - year, exceeding the market expectation. The product sales rate was 94.3%, and the industrial capacity utilization rate in Q2 was 74.0% [41][43][45]. Employment and Prices - In June 2025, the national urban surveyed unemployment rate was 5.0%. The CPI increased 0.1% year - on - year, and the PPI decreased 3.6% year - on - year. In July, agricultural product prices hovered at a low level, and the average domestic gasoline price was higher than that in June [47][49][57]. Manufacturing and Non - Manufacturing PMI - In July 2025, the official manufacturing PMI was 49.3%, remaining below the boom - bust line for four consecutive months. The non - manufacturing business activity index was 50.1%. The manufacturing production continued to expand, while the demand re - entered the contraction range. The service industry activity expectation index increased slightly [68][71][81].

Group 1 - The trade surplus of Côte d'Ivoire in Q1 2025 is approximately 1.5 trillion West African francs (about 25.5 billion USD), an increase of 423 billion West African francs (about 7.4 billion USD) compared to the same period last year, indicating a positive trend in foreign trade [1] - Agricultural exports are mixed, with coffee and cocoa exports reduced due to adverse weather conditions, while cashew production has recovered due to new plant inspection measures [1] - The secondary sector, driven by mining and manufacturing, saw industrial output grow by 3.7% in the first three months [1] Group 2 - The tertiary sector significantly contributed to foreign trade growth, with shipping volume increasing by 18.2% and overall foreign trade growing by 10% [1]

Domestic Developments - In the first half of 2025, profits of industrial enterprises above designated size in China totaled CNY 3.44 trillion, a year-on-year decrease of 1.8%, with the decline rate widening by 0.7 percentage points compared to the first five months[9] - The newly announced childcare subsidy scheme will provide CNY 3,600 per child per year for children under three years old starting January 1, 2025, aiming to alleviate childcare costs and enhance birth rates[11] - The National Development and Reform Commission emphasized the need for policy preparation focusing on employment and domestic demand, with a target of stabilizing investment and promoting consumption[15] International Developments - The U.S. Treasury Department projected a net borrowing of USD 1.007 trillion from July to September 2025, an increase of nearly 82% from earlier estimates[21] - The Bank of Japan maintained its interest rate at 0.5%, aligning with market expectations, while raising its inflation forecast for the fiscal year 2025 from 2.2% to 2.7%[23] - The U.S. Federal Reserve voted 9-2 to keep interest rates unchanged in the range of 4.25%-4.50%, with Chairman Powell indicating that it is too early to conclude on a rate cut in September[25] Market Trends - Brent crude oil prices increased by 2.73% week-on-week, while iron ore and copper prices decreased by 2.15% and 0.89%, respectively[27] - Real estate sales in 30 major cities rose by 34.72% week-on-week, with first-tier cities seeing a 64.47% increase in transaction volume[42]

Economic Performance - In May, Canada's real GDP decreased by 0.1%, marking a second consecutive month of contraction, consistent with the decline observed in April [1] - The economic downturn in May is primarily attributed to the goods-producing sector, particularly in mining, quarrying, and oil and gas extraction [1] Sector Analysis - The services sector remained stable in May, while the manufacturing sector experienced a growth of 0.7%, partially offsetting the 1.8% decline from April when U.S. tariffs came into full effect [1] - Despite the growth in manufacturing, it is still 1.1% lower compared to March [1]

证券代码：601969 证券简称：海南矿业 公告编号：2025-092 海南矿业股份有限公司 关于以集中竞价交易方式首次回购股份暨回购进展公告 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： 回购方案首次披露日 2025/2/25 回购方案实施期限 股东大会审议通过后 12 个月 预计回购金额 7,500万元~15,000万元 √减少注册资本 □用于员工持股计划或股权激励 回购用途 □用于转换公司可转债 一、 回购股份的基本情况 海南矿业股份有限公司（以下简称"公司"）于 2025 年 3 月 12 日召开 2025 年第二次临时股东大会，审议通过了《关于以集中竞价交易方式回购股份方案的 议案》，同意公司以自有资金和股票回购专项贷款通过集中竞价交易方式回购公 司发行的人民币普通股（A 股）股票，回购价格上限为人民币 10.12 元/股，回购 资金总额不低于人民币 7,500 万元（含）且不超过人民币 15,000 万元（含）。回 购期限为自公司 2025 年第二次临时股东大会审议通过回购方案之日起不超过 12 ...

Investment Rating - The report provides a "Buy" rating for the industry, indicating a forecasted stock price increase of 15% or more relative to the Shanghai Composite Index within six months following the report's release [27]. Core Insights - The lithium concentrate production for Q2 2025 reached 144,000 tons, representing an 8% quarter-on-quarter increase, while the shipment volume was 135,000 tons, up 6% from the previous quarter [1]. - The average realized price for lithium concentrate in Q2 2025 was $642 per ton, reflecting a 24% decrease compared to the previous quarter [1]. - The report highlights significant production and shipment variations across different mining sites, with Wodgina showing a 32% increase in production and a 15% increase in shipments for Q2 2025 [4][5]. Summary by Sections Lithium Mining - **Overall Performance**: In Q2 2025, the total lithium concentrate production was 144,000 tons, with shipments at 135,000 tons, marking increases of 8% and 6% respectively [1]. - **MT MARION**: Production decreased by 11% quarter-on-quarter to 124,000 tons, with shipments down 3% to 134,000 tons. The average realized price fell by 28% to $607 per ton [2]. - **WODGINA**: Production increased by 32% to 166,000 tons, with shipments rising 15% to 136,000 tons. The average realized price was $674 per ton, down 20% [7]. Iron Ore Mining - **ONSLOW IRON**: Achieved commercial production with a Q2 2025 output of 6.18 million tons, an 80% increase quarter-on-quarter. The average realized price was $79 per ton, down 11% [8][9]. - **PILBARA HUB**: Produced 2.75 million tons in Q2 2025, a 9% increase, with an average price of $78 per ton, down 13% [10]. Financial Overview - As of June 30, 2025, the company had liquidity exceeding 1.1 billion AUD, including over 400 million AUD in cash [14]. - The net debt was approximately 5.35 billion AUD, with a significant reduction in borrowings due to positive cash flow from operations [15][16].

Economic Performance - Shenzhen's GDP for the first half of 2025 reached 18322.26 billion yuan, with a year-on-year growth of 5.1% [1] - The primary industry added value was 10.33 billion yuan, growing by 2.8%; the secondary industry added value was 6505.56 billion yuan, increasing by 3.3%; and the tertiary industry added value was 11806.37 billion yuan, rising by 6.1% [1] Industrial and Service Sector Growth - The city's industrial added value for large-scale enterprises grew by 4.3%, with manufacturing increasing by 4.2% and electricity, heat, gas, and water production and supply growing by 11.8% [2] - High-tech product output saw significant growth, with civil drones, industrial robots, and 3D printing equipment increasing by 59.0%, 38.0%, and 35.8% respectively [2] - The service sector's added value was 11806.37 billion yuan, with a year-on-year growth of 6.1%, driven by finance (10.9%), transportation and warehousing (9.0%), and information technology services (8.1%) [2] Investment Trends - Fixed asset investment in Shenzhen decreased by 10.9%, with real estate development down by 15.1% but infrastructure investment up by 7.7% and industrial technology renovation investment soaring by 47.1% [3] - Investment in information transmission, software, and IT services grew by 47.7%, while transportation and warehousing investment rose by 32.5% [3] Consumer Market Insights - The total retail sales of social consumer goods reached 4948.68 billion yuan, with a year-on-year growth of 3.5% [3] - Online retail sales through the internet increased by 19.4%, indicating a strong trend towards e-commerce [3] Trade and Financial Sector - The total import and export volume for the first half of the year was 21675.45 billion yuan, a decrease of 1.1%, with exports down by 7.0% and imports up by 9.5% [4] - By the end of June, the balance of deposits in financial institutions reached 141600.14 billion yuan, growing by 5.7% [4] Cross-Border E-commerce Development - The Google Cross-Border E-commerce Acceleration Center in Shenzhen officially commenced operations, enhancing the cross-border e-commerce ecosystem in the region [6] - The center aims to provide comprehensive services for cross-border e-commerce companies, supporting their global business expansion [6]