Core Viewpoint - The company has decided to permanently suspend its subsidiary, Xinjiang Baoming Mining Co., Ltd., due to ongoing operational challenges and financial losses, while also planning to provide guarantees for a related party's loan to improve cash flow [8][14][18]. Group 1: Board Meeting Decisions - The company's board held a meeting on November 21, 2025, where all nine directors attended and unanimously approved the proposal for the long-term suspension of Xinjiang Baoming Mining [1][3]. - The board also approved a proposal for the company’s wholly-owned subsidiary to provide guarantees for a related party's loan, which will require further approval from the shareholders' meeting [2][20]. Group 2: Xinjiang Baoming Mining's Situation - Xinjiang Baoming Mining has been temporarily suspended since January 31, 2024, due to the lack of necessary land permits, which has severely impacted its production capacity [9][11]. - The company has incurred significant losses, with Xinjiang Baoming reporting a revenue of 0.19 billion yuan in 2024, contributing only 0.17% to the company's total revenue, and a loss of 0.926 billion yuan [14]. - As of the announcement date, Xinjiang Baoming remains in a suspended state, with ongoing efforts to secure land and production permits, but the timeline for resuming operations is uncertain [13][14]. Group 3: Financial Implications - The long-term suspension of Xinjiang Baoming is expected to necessitate adjustments in asset valuation, potentially impacting the company's short-term financial status negatively, while aligning with long-term strategic goals [14][15]. - In 2024, the company achieved a revenue of 11.289 billion yuan and a net profit of 2.1 billion yuan, while Xinjiang Baoming's contribution was minimal, indicating a significant financial burden from the subsidiary's losses [14]. Group 4: Future Strategy - The company aims to focus on core industries such as biomedicine and explore new investment opportunities in line with national industrial policies, while seeking strategic investors for Xinjiang Baoming to address its financial challenges [15].

Core Viewpoint - The company has decided to permanently suspend its subsidiary Xinjiang Baoming Mining Co., Ltd. due to the inability to obtain necessary permits for land use and production resumption, alongside financial constraints for further investment [1][2]. Financial Performance - In 2024, the company achieved a revenue of 11.289 billion yuan and a net profit attributable to the parent company of 210 million yuan; Xinjiang Baoming generated a revenue of 1.9 million yuan, accounting for 0.17% of the company's total revenue, with a loss of 926 million yuan [2]. - In the first three quarters of 2025, the company reported a revenue of 8.114 billion yuan and a net profit of 1.365 billion yuan; Xinjiang Baoming's revenue was 300,000 yuan, representing 0.03% of the company's total revenue, with a loss of 471 million yuan [2]. Strategic Direction - The company will not continue to invest large amounts of cash into Xinjiang Baoming, as it does not align with its current strategic development direction; efforts will be made to attract strategic investors to address Xinjiang Baoming's financial and developmental issues, although this process is expected to take a long time and carries uncertainties [1]. - During the suspension period, the company will require Xinjiang Baoming to properly manage employee placement and asset maintenance [1].

Core Viewpoint - The company has decided to permanently suspend its subsidiary Xinjiang Baoming Mining Co., Ltd. due to the inability to obtain necessary permits for land use and production resumption, alongside financial constraints for further investment [1][2]. Financial Performance - In 2024, the company achieved an operating revenue of 11.289 billion yuan and a net profit attributable to the parent company of 210 million yuan; Xinjiang Baoming generated an operating revenue of 1.9 million yuan, accounting for 0.17% of the company's total revenue, with a loss of 926 million yuan [2]. - In the first three quarters of 2025, the company reported an operating revenue of 8.114 billion yuan and a net profit attributable to the parent company of 1.365 billion yuan; Xinjiang Baoming's operating revenue was 300,000 yuan, representing 0.03% of the company's total revenue, with a loss of 471 million yuan [2].