Core Viewpoint - Tongling Nonferrous Metals is actively enhancing its resource reserves through significant acquisitions, including the recent purchase of exploration rights for the Jiguanshan-Hucun copper-gold-molybdenum mine for approximately 3.204 billion yuan [1][3]. Group 1: Recent Acquisitions - The company acquired the exploration rights for the Jiguanshan-Hucun copper-gold-molybdenum mine, which is expected to bolster its nonferrous metal resource reserves and enhance sustainable development capabilities [2][3]. - In September 2023, the company also acquired a 70% stake in China Railway Construction Copper Crown for 6.673 billion yuan, gaining access to overseas copper resources [2][4]. - The total expenditure for these two acquisitions amounts to approximately 9.88 billion yuan, significantly increasing the company's copper resource reserves both domestically and internationally [4]. Group 2: Financial Performance - Despite market fluctuations, the company has maintained strong profitability, with annual profits reaching nearly 2.7 billion yuan from 2021 to 2024 [2][6]. - In 2024, the company reported revenues of 145.531 billion yuan and a net profit of 2.809 billion yuan, reflecting year-on-year growth of 5.88% and 4.05%, respectively [6]. - For the first three quarters of 2025, the company achieved revenues of 121.893 billion yuan, a year-on-year increase of 14.66%, although net profit declined by 35.14% to 1.771 billion yuan due to market challenges [6]. Group 3: Competitive Advantages - Tongling Nonferrous Metals is a leading player in the copper production industry, with an annual cathode copper production capacity exceeding 1.7 million tons [2][6]. - The company has developed advanced technologies, including high-temperature resistant oxygen-free copper strips and HVLP series copper foils, breaking foreign monopolies in technology and products [6]. - The company is focused on recovering and utilizing rare metals such as selenium and tellurium, having developed 17 new products, including high-purity tellurium and indium [6].