《办法》提出，建立自然资源、生态环境、财政、市场监管、金融监管、证监、林草等部门组成的绿色 矿山建设工作协调机制，共同推进绿色矿山建设，落实支持政策。 近日，新疆维吾尔自治区自然资源厅、生态环境厅、财政厅等部门印发《新疆维吾尔自治区绿色矿山建 设管理办法》（以下简称《办法》），建立政府引导、部门协作、企业主建、社会监督的工作机制，切 实提升矿产资源开发利用和保护水平。 《办法》强调，各级自然资源部门应会同相关部门对尚未开展创建的矿山加大督导力度，推动尽快开展 绿色矿山建设。自治区级绿色矿山建设评价指标由自治区自然资源厅负责组织研究制定，根据法律法 规、技术标准等变化及时调整。鼓励有条件的矿业集团、企业积极编制企业标准并应用。 《办法》明确，矿山企业是绿色矿山建设的责任主体，应主动对照绿色矿山建设相关规范和评价指标定 期开展自评，及时发现问题并进行整改，按计划推动绿色矿山创建。新建矿山应严格按照绿色矿山标准 建设运行，正式投产后1年至2年内通过绿色矿山评估核查。对证照合法有效、近3年内正常生产、剩余 储量可采年限不低于3年的生产矿山，规模为大中型的在办理延续、变更手续时，要明确绿色矿山建设 时限和要求，按照创建 ...

Core Viewpoint - The company *ST Zhengping has experienced a significant stock price increase of 107.81% from September 1, 2025, to October 22, 2025, with 17 days of trading suspension and 5 instances of abnormal trading fluctuations [1] Financial Summary - As of June 30, 2025, the company's cash funds amounted to 101,723,487.39 yuan, with 81,664,227.39 yuan restricted due to various factors such as migrant workers' guarantee deposits and litigation freezes [1] - The company's asset-liability ratio stands at 92.22%, indicating a high level of debt relative to its assets [1] Operational Challenges - The company's wholly-owned subsidiary, Golmud Shengguang Mining Development Co., Ltd., has obtained a mining license from the Qinghai Provincial Department of Natural Resources [1] - The company faces significant challenges in mining resource development due to insufficient mining capacity and the need for substantial investment in construction and operations [1] - There is a major uncertainty regarding the progress of subsequent mining resource development and the potential for generating revenue, influenced by funding constraints, market conditions, industry policies, and external factors [1]

Core Viewpoint - *ST Zhengping's stock has experienced a significant increase of 107.81% from September 1, 2025, to October 22, 2025, with 17 days of trading suspension and 5 instances of abnormal trading fluctuations [1] Group 1: Company Developments - The company's wholly-owned subsidiary, Golmud Shengguang Mining Development Co., Ltd., has obtained a mining license from the Qinghai Provincial Natural Resources Department [1] - The company faces challenges in mining capacity, requiring substantial investment for future resource development and operations [1] Group 2: Financial Condition - As of June 30, 2025, the company's monetary funds amounted to 101,723,487.39 yuan, with 81,664,227.39 yuan restricted due to various factors such as migrant workers' account deposits and litigation freezes [1] - The company's asset-liability ratio stands at 92.22%, indicating a high level of financial leverage [1] Group 3: Uncertainties and Risks - The future progress of mineral resource development and the potential for generating revenue are subject to significant uncertainties due to multiple factors, including funding constraints, market conditions, industry policies, external environments, and personnel shortages [1]

Core Viewpoint - The article discusses the recent stock trading activities and financial situations of *ST Zhengping and Tianpu Co., highlighting significant price fluctuations and the associated risks of both companies [1][3][5]. Group 1: *ST Zhengping - *ST Zhengping experienced a cumulative increase of 101.86% from September 1 to September 30, with 15 trading days of price limits and 4 instances of abnormal fluctuations [1]. - The company announced that it would resume trading on October 16, 2025, after completing a stock trading review [3]. - The company received a mining permit on September 17, but faces significant uncertainties regarding future mining operations due to insufficient funds, personnel, and equipment [3]. - As of June 30, 2025, the company had cash assets of 102 million yuan, with 81.66 million yuan restricted due to various factors, and a debt-to-asset ratio of 92.22% [3]. - The company reported a revenue of 344 million yuan for the first half of 2025, a year-on-year decrease of 37.77%, and a net profit of -88 million yuan, down 12.4% [4]. - The company's price-to-earnings ratio is currently negative, and its price-to-book ratio is 13.19, significantly higher than the industry averages of 8.09 and 1.91, respectively [5]. Group 2: Tianpu Co. - Tianpu Co. also announced the completion of its stock trading review and plans to resume trading on October 16, 2025, after experiencing a 317.72% increase over 15 consecutive trading days [5]. - The company highlighted risks related to potential changes in control, stock distribution issues, and significant deviations from industry averages in terms of price-to-earnings and price-to-book ratios [7]. - The acquiring party, Zhonghao Xinying, is currently undergoing an independent IPO process, which is unrelated to the acquisition of Tianpu Co. [7].

Core Viewpoint - *ST Zhengping has completed its stock trading review and will resume trading on October 16, 2025, after a temporary suspension due to significant uncertainties regarding its mining operations and financial situation [1][2]. Financial Situation - As of June 30, 2025, the company reported cash funds of approximately 101.72 million yuan, with 81.66 million yuan restricted due to various factors such as litigation and guarantees [1]. - The company's asset-liability ratio stands at 92.22%, indicating a high level of debt relative to its assets [1]. Mining Operations - The company received a mining permit from the Qinghai Provincial Department of Natural Resources on September 17, 2025, but lacks sufficient funds, personnel, and equipment for future mining operations [1]. - There are significant uncertainties regarding the progress and profitability of future mineral resource development due to multiple factors, including funding, market conditions, industry policies, and external environments [1]. Stock Trading and Risks - The company has experienced a substantial increase in stock price recently, with 15 trading halts in September 2025 alone, raising concerns about the sustainability of this price increase [4]. - There is a risk of delisting if the issues related to non-standard opinions are not resolved by the end of 2025, alongside ongoing non-operating fund occupation and continuous losses [4].

Core Viewpoint - The company *ST Zhengping has completed its stock trading review and will resume trading on October 16, 2025, after a significant increase in stock price, which has raised concerns about potential risks and uncertainties in its future operations and profitability [1][3]. Group 1: Company Financials and Operations - As of June 30, 2025, the company's cash funds amounted to 101,723,487.39 yuan, with 81,664,227.39 yuan restricted due to various factors such as guarantees for migrant workers and litigation [1]. - The company's asset-liability ratio stands at 92.22%, indicating a high level of debt relative to its assets [1]. - The company has received a mining permit from the Qinghai Provincial Natural Resources Department but lacks sufficient funds, personnel, and equipment for future mining operations, leading to significant uncertainty regarding the development and profitability of its mineral resources [1]. Group 2: Stock Trading and Market Performance - The company announced a stock suspension starting from October 9, 2025, due to a significant increase in stock price, with 15 trading halts in September alone [3]. - The company has warned of the risk of delisting if issues related to non-standard opinions are not resolved by the end of the 2025 fiscal year [3]. - The company has indicated that its production and operational status is normal, with no significant changes or undisclosed major events that could impact its stock price [3].

Core Viewpoint - China Railway Group Limited (601390) saw its stock price increase by over 6% in early trading, reflecting positive market sentiment following the announcement of winning significant contracts [1] Group 1: Financial Performance - The company recently announced it has won 11 major engineering contracts, with a total bid amount of 50.215 billion RMB, which represents approximately 4.34% of the company's projected revenue for 2024 under Chinese accounting standards [1] Group 2: Business Operations - Longjiang Securities highlighted that China Railway currently has five modernized mines that are fully owned, controlled, or partially owned, indicating a strong presence in the mining sector [1] - The company's mineral resources business is operating steadily, suggesting a robust operational performance in this segment [1] - There is an ongoing focus on the revaluation of the company's mineral resources, which may present further investment opportunities [1]

Group 1 - The company successfully renewed its mining license for the Lapichevskaya mine in Kemerovo, Russia, valid until January 1, 2029, but the license was revoked by federal authorities on April 22, 2025 [1] - The company filed a review application against the revocation decision to the Moscow Arbitration Court on May 19, 2025, but the court rejected the application on September 8, 2025, citing non-compliance with necessary pre-trial dispute resolution procedures [1] - The court's ruling allows the company to appeal the decision within one month from September 8, 2025 [1] Group 2 - The company is seeking legal advice and taking measures to protect its legal rights following the court's decision [2] - The company is considering filing a complaint against the federal authorities and the Ministry of Natural Resources and Environment by the end of October 2025 [2] - An appeal against the court ruling is planned to be submitted to the relevant judicial authority by October 6, 2025 [2]

Core Viewpoint - The company has resumed production at the Denggezhuang mine after a temporary shutdown due to a worker's fatal accident, with no significant impact on financial performance expected from the downtime [1] Group 1: Incident and Response - A worker was killed in an accident at the Denggezhuang mine, leading to a mandated shutdown for safety inspections and rectifications by emergency and safety management authorities [1] - The company conducted a thorough self-inspection and rectification of management practices at Yantai Mujin during the shutdown period [1] - Local emergency management authorities performed a comprehensive review of the Denggezhuang mine, confirming its compliance with safety production conditions [1] Group 2: Resumption of Operations - On September 26, 2025, the company received a rectification review notice from the emergency management bureau, allowing the Denggezhuang mine to resume operations [1] - The company immediately restarted production at the Denggezhuang mine following the approval [1] - The board of directors believes that the short duration of the shutdown will not have a significant impact on the group's financial performance [1]

Core Viewpoint - The company has obtained a mining license for its wholly-owned subsidiary, but faces significant uncertainties regarding future mining operations due to insufficient resources and funding [1] Financial Summary - As of June 30, 2025, the company's cash funds amount to 101,723,487.39 yuan, with 81,664,227.39 yuan restricted due to various factors [1] - The company's asset-liability ratio stands at 92.22%, indicating a high level of debt relative to its assets [1] Operational Challenges - The company lacks sufficient funding, personnel, and equipment for future mining operations, which may hinder the development of mineral resources [1] - Multiple factors, including funding constraints, market conditions, industry policies, and external environments, contribute to the uncertainty of future mining progress and profitability [1]