● 交易事项及金额：金石资源集团股份有限公司（以下简称"金石资源"或"公司"）拟以256,935,559.85元 的对价，以现金方式受让诺亚氟化工股东绍兴上虞龙仓股权投资合伙企业（有限合伙）等6名股东（以 下统一称"转让方"）所合计持有的标的公司15.7147%股权，对应标的公司注册资本及实缴资本均为 13,105,998元。本次交易完成后，公司将持有标的公司15.7147%股权，成为其第二大股东，持股比例与 第一大股东相差0.1415%。 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： ● 交易标的名称：浙江诺亚氟化工有限公司（以下简称"诺亚氟化工"或"标的公司"）15.7147%股权 ● 本次交易不构成关联交易，不构成《上市公司重大资产重组管理办法》规定的重大资产重组。 ● 本次交易事项已经公司董事会审议通过，无需提交股东会审议。 ● 其它需要提醒投资者重点关注的风险事项 1.因标的公司股东人数较多，为做好内幕信息防范工作，截至本公告日，公司已获得持有标的公司 51.7289%股权的股东出具的放弃优先购买权 ...

金石资源（603505）12月21日晚公告，公司拟以2.57亿元的对价，现金方式受让诺亚氟化工股东绍兴上 虞龙仓股权投资合伙企业等6名股东所合计持有的标的公司15.71%股权，对应诺亚氟化工注册资本及实 缴资本均为1310.6万元。本次交易完成后，公司将持有诺亚氟化工15.71%股权，成为其第二大股东，持 股比例与第一大股东相差0.14%。 金石资源作为氟化工源头原材料萤石行业的龙头企业，近年来业务已从萤石资源延伸至基础氟化工产品 如无水氟化氢、无水氟化铝，以及下游锂电材料如六氟磷酸锂等产品。公司本次对外投资购买股权，旨 在依托公司上游萤石矿以及氟化工基础产品的核心优势，布局具有高增长潜力的精细氟化工赛道，利用 范围经济拓展新质业务，符合公司"资源+技术"两翼驱动战略以及新质氟化工垂直一体化布局的战略方 向，是公司作为氟化工上游龙头企业，向下游精细氟化工进行战略性延伸以及价值链深化、产业整合的 重要布局。 因诺亚氟化工股东人数较多，为做好内幕信息防范工作，截至公告日，金石资源已获得持有诺亚氟化工 51.73%股权的股东出具的放弃优先购买权文件。尚未取得的其余股东关于放弃优先购买权/共同出售权 的文件，将于本次 ...

本次交易，公司拟以2.57亿元的对价，受让诺亚氟化工股东绍兴上虞龙仓股权投资合伙企业（有限合 伙）（以下简称"上虞龙仓"）等6名股东所持有的诺亚氟化工15.7147%股权。交易完成后，公司将成为 诺亚氟化工第二大股东，与第一大股东持股比例差0.1415%。 公司本次对外投资购买股权，旨在依托公司上游萤石矿以及氟化工基础产品的核心优势，布局具有高增 长潜力的精细氟化工赛道，利用范围经济拓展新质业务，符合公司"资源+技术"两翼驱动战略以及新质 氟化工垂直一体化布局的战略方向，是公司作为氟化工上游龙头企业，向下游精细氟化工进行战略性延 伸以及价值链深化、产业整合的重要布局。 格隆汇12月21日丨金石资源(603505.SH)公布，公司作为氟化工源头原材料萤石行业的龙头企业，近年 来业务已从萤石资源延伸至基础氟化工产品如无水氟化氢、无水氟化铝，以及下游锂电材料如六氟磷酸 锂等产品。本次交易的标的公司诺亚氟化工系高新技术企业，专业从事含氟电子化学品的研发、制造和 销售，主要量产产品包括氟化冷却液、中高端电子清洗剂氟化醚以及全氟己酮灭火剂等。其氟化冷却液 产品通过化学合成法制成，在产品纯化和检测技术方面有独特优势，于20 ...

本次交易，公司拟以2.57亿元的对价，受让诺亚氟化工股东绍兴上虞龙仓股权投资合伙企业（有限合 伙）（以下简称"上虞龙仓"）等6名股东所持有的诺亚氟化工15.7147%股权。交易完成后，公司将成为 诺亚氟化工第二大股东，与第一大股东持股比例差0.1415%。 格隆汇12月21日丨金石资源(603505.SH)公布，公司作为氟化工源头原材料萤石行业的龙头企业，近年 来业务已从萤石资源延伸至基础氟化工产品如无水氟化氢、无水氟化铝，以及下游锂电材料如六氟磷酸 锂等产品。本次交易的标的公司诺亚氟化工系高新技术企业，专业从事含氟电子化学品的研发、制造和 销售，主要量产产品包括氟化冷却液、中高端电子清洗剂氟化醚以及全氟己酮灭火剂等。其氟化冷却液 产品通过化学合成法制成，在产品纯化和检测技术方面有独特优势，于2019年首次进入某央企采购名 录，应用于国家超算中心项目，近年来也应用于国内外知名互联网企业及服务器厂商，目前已建成 5,000吨氟化液产能，在浸没式液冷市场规模和市场占有率均位于国内前列；氢氟醚是诺亚氟化工重点 培育的新产品，具有较好的发展前景；全氟己酮产品技术成熟，市场占有率高。 公司本次对外投资购买股权，旨在依托 ...

Investment Rating - The report maintains an "Accumulate" investment rating for the company, predicting a relative increase of 5% to 15% compared to the CSI 300 index over the next six months [12][39]. Core Views - The company's performance is under short-term pressure, with a significant decline in revenue and profits in 2024, but is expected to recover in 2025 [7][12]. - The demand for lithium battery electrolyte is projected to continue growing, driven by the increasing sales of new energy vehicles in China [7][9]. - The company has a complete industrial chain for lithium battery production, which provides a significant cost advantage [9][10]. - The company is expected to see a recovery in its new energy materials segment in 2025, despite short-term challenges [9][12]. Summary by Sections Financial Performance - In 2024, the company reported revenue of 82.07 billion yuan, a year-on-year decrease of 31.25%, with a net profit of -3.08 billion yuan, down 160.36% [7][12]. - The first quarter of 2025 showed signs of recovery, with a net profit of 64.73 million yuan, a year-on-year increase of 69.24% [12][14]. Market Position and Industry Trends - The company is a leader in the fluorine-based new materials sector, with a focus on lithium hexafluorophosphate and other electrolyte salts [9][10]. - The demand for lithium hexafluorophosphate is expected to remain strong, supported by the growth in the new energy vehicle market, which saw a 36.10% increase in sales in 2024 [7][9]. - The company has established a strong market presence, exporting to regions such as Korea, Japan, and Europe, and is expected to maintain its market share [9][10]. Product Segments - The new energy materials segment generated revenue of 25.93 billion yuan in 2024, a decline of 45.93%, primarily due to falling prices of lithium hexafluorophosphate [9][10]. - The electronic information materials segment is expected to recover in 2025, with the company having successfully entered the semiconductor supply chain [9][10]. - The fluorine-based new materials segment achieved revenue growth of 20.42% in 2024, indicating strong demand in traditional and high-tech sectors [10][12].

Core Viewpoint - The company, Duofluor, is establishing a unique competitive advantage in the rapidly growing Chinese new energy industry by integrating fluorine, lithium, silicon, and boron materials with solid-state battery technology, showcasing a narrative of "counter-cyclical growth" through technological iteration, cost control, and long-term strategies [1][8]. Group 1: Company Overview - Duofluor, founded in December 1999 and listed in May 2010, has evolved from a focus on inorganic fluorides to a diversified business model spanning traditional industries, new energy, and semiconductors, forming a "basic materials + high-end applications" driving model [2][3]. - The company operates four main business segments: fluorine-based new materials, electronic information materials, new energy materials, and new energy batteries, all achieving significant market positions [3]. Group 2: Product and Technology Development - The fluorine-based new materials segment includes products like anhydrous aluminum fluoride and anhydrous hydrogen fluoride, with the production process for anhydrous aluminum fluoride being a third-generation technology that has reached an international leading level [3]. - The electronic information materials segment produces electronic-grade hydrogen fluoride, which has successfully entered the semiconductor supply chain, with an annual production capacity of 60,000 tons [4]. - In the new energy materials segment, the company has a production capacity of 65,000 tons of high-purity crystalline lithium hexafluorophosphate (LiPF6), which is a key component in lithium battery electrolytes, and is positioned among the top global producers [5]. Group 3: Market Trends and Future Outlook - The demand for sodium-ion batteries is expected to grow significantly, with projections indicating a market demand of 520 GWh by 2030, presenting a market opportunity exceeding 200 billion [5]. - The company is also advancing in solid-state battery materials, having developed patents for polymer and oxide solid-state electrolytes, with ongoing internal testing and a pilot production line established [7]. - The company’s comprehensive supply chain from fluorine resources to lithium batteries positions it well for future growth, especially as the global demand for lithium batteries is expected to stabilize and grow [8][13]. Group 4: Financial Performance and Strategic Moves - In 2024, the company faced a net loss due to asset impairment and declining product prices, but excluding these factors, it did not incur a net loss, indicating resilience [9][11]. - In Q1 2025, the company reported a revenue of 2.098 billion, with a net profit of 64.73 million, reflecting a significant year-on-year increase of 69.24%, showcasing effective cost control [11]. - The company has initiated a share buyback program, indicating confidence in its future performance and commitment to enhancing shareholder value [15]. Group 5: Industry Context and Competitive Landscape - The fluorochemical industry is positioned for growth due to increasing environmental regulations and the push for sustainable development, which aligns with the company's focus on innovation and eco-friendly products [12]. - The electronic information materials sector is experiencing rising demand driven by advancements in technology, with domestic companies like Duofluor poised to benefit from reduced reliance on imports [13]. - The new energy vehicle market is projected to grow significantly, with production and sales expected to exceed 10 million units in 2024, further driving demand for the company's products [14].

Core Viewpoint - The company, Jins Resources Group Co., Ltd., has released its 2024 annual report, highlighting significant financial performance and strategic developments in the mining and fluorochemical sectors. Company Overview - Jins Resources is a specialized mining company focused on the investment and development of strategic mineral resources, particularly fluorite, since its establishment in 2001 [6][7]. - The company has expanded its business into downstream fluorochemical and lithium battery materials since 2021, achieving breakthroughs in resource recycling [6]. Industry Context - Fluorite is classified as a strategic mineral in China and is recognized as a world-class scarce resource, similar to rare earth elements [8][9][10]. - The global distribution of fluorite resources shows that China holds the largest reserves, with an increase from 67 million tons to 86 million tons, representing over 50% of the world's total [11][12]. Financial Performance - The company reported a revenue of 2.75 billion yuan in 2024, a year-on-year increase of 45.17%, while the net profit attributable to shareholders decreased by 26.33% to 257 million yuan [26]. - The decline in net profit is attributed to increased costs from safety and environmental investments and a decrease in sales volume from self-owned mines [23][24]. Profit Distribution - The company plans to distribute a cash dividend of 0.50 yuan per share and issue 4 bonus shares for every 10 shares held, with total cash dividends amounting to approximately 89.96 million yuan, representing 35% of the net profit [4][5][36][37]. Business Model - The company's operations encompass mining, processing, and sales of fluorite products, with a focus on integrating mining and fluorochemical production [15][18]. - The company has established stable partnerships with downstream customers for its fluorite products, ensuring a consistent market presence [20][21]. Strategic Initiatives - The company is actively involved in resource recycling and has made significant progress in utilizing difficult-to-process resources, particularly in collaboration with other firms [17]. - The company’s subsidiary, Jins Ebo Fluorochemical, has developed a production line for anhydrous hydrofluoric acid, positioning itself as a leader in the industry [15].