Core Viewpoint - Zhihui Mining, a mining company from Tibet, has submitted its IPO application to the Hong Kong Stock Exchange, providing an opportunity to observe the growth logic of zinc concentrate enterprises and industry trends [1] Company Overview - Zhihui Mining operates in the mining sector, covering exploration, mining, and production of zinc, lead, and copper concentrates, ranking fifth, fourth, and fifth in Tibet for these products respectively [1] - The company has two mining operations: an open-pit mine in commercial operation since 2007 and an underground mine that began operations in the second quarter of 2025 [2] Financial Performance - The company's revenue and profit have shown significant volatility, with revenues of 482 million, 546 million, and 301 million yuan from 2022 to 2024, and net profits of 118 million, 155 million, and 55.85 million yuan during the same period [3] - In 2024, revenue decreased by 44.8% and net profit dropped by 63.9% due to production delays caused by weather and temporary suspensions of production lines for upgrades [3] - Despite a rise in average selling prices, total sales volume of concentrates fell sharply, with a 56.33% decrease in the quantity sold in 2024 [3] Revenue Structure - The company's revenue primarily comes from the sale of zinc concentrates, which accounted for approximately 61.4%, 50.1%, and 71.6% of total revenue from 2022 to 2024 [4] - Following the resumption of full operations and completion of processing upgrades in April 2025, revenue increased significantly to 257 million yuan, a 253.4% year-on-year growth [4] Industry Context - The demand for zinc in China is robust, driven by infrastructure and galvanizing industries, with domestic consumption reaching 6,642 thousand tons in 2024 [6] - The zinc concentrate market in China faces a supply shortage, necessitating imports due to domestic production declines, with a compound annual growth rate of -2.3% from 2018 to 2024 [7] - The industry is experiencing a favorable development opportunity due to strong demand and government policies promoting safety, environmental sustainability, and technological upgrades in mining [7] Challenges and Opportunities - Companies like Zhihui Mining must focus on cost reduction and efficiency improvements to maintain competitiveness amid market fluctuations [6] - The prices of zinc, lead, and copper are influenced by various factors, including global economic conditions and geopolitical events, which can impact the company's profitability and cash flow [8] - The cyclical nature of the mining industry presents both opportunities during economic booms and challenges during downturns, highlighting the need for strategic management of operational costs and production efficiency [8]

Core Viewpoint - The company, Xinjiang Baodi Mining Co., Ltd., is set to hold a third-quarter performance briefing on October 31, 2025, to communicate its operational performance and development strategies to investors [9][10]. Financial Data - The financial statements for the third quarter of 2025 have not been audited [3]. - The company assures that the quarterly report's content is true, accurate, and complete, with no false records or significant omissions [2][4]. Shareholder Information - The company has provided details regarding the total number of ordinary shareholders and the shareholding status of the top ten shareholders [5]. Performance Briefing Details - The performance briefing will take place online on "Value Online" from 15:00 to 16:00 on October 31, 2025 [8][10]. - Investors can submit questions before the briefing through a designated website or WeChat mini-program [11]. Contact Information - Investors can contact the company's securities affairs department for inquiries via phone, fax, or email [11].

Core Viewpoint - The company has approved a profit distribution plan for 2024 and a mid-term dividend plan for 2025, which includes cash dividends and stock bonuses for shareholders [2][3]. Group 1: Profit Distribution and Shareholder Benefits - The company will distribute a cash dividend of 0.05 yuan per share (tax included) and issue 0.4 bonus shares for every share held, based on a total share capital of 601,802,523 shares, excluding 2,136,799 shares held in the repurchase account [2]. - The profit distribution plan was approved during the board meetings held on April 22, June 3, and the annual shareholders' meeting on June 25, 2025 [2]. Group 2: Capital Changes and Corporate Structure - Following the implementation of the profit distribution plan, the company's total share capital increased from 601,802,523 shares to 841,668,813 shares, and the registered capital rose from 601,802,523 yuan to 841,668,813 yuan [3]. - The company has completed the registration changes with the Zhejiang Provincial Market Supervision Administration and received a new business license reflecting the updated registered capital and corporate information [3].