Company Overview - Shengda Metal Resources Co., Ltd. is engaged in mining and resource management, focusing on precious metals such as gold and silver [1] - The company is currently in the process of obtaining safety production permits for its operations [1] Mining Operations - Honglin Mining's identified resource reserves include: - Ore volume: 6.056 million tons - Gold content: 17,049 kg with an average grade of 2.82 g/t - Copper content: 29,015 tons with an average grade of 0.48% [1] - The expected production scale is 39.60 million tons per year, with actual output to be confirmed post-production [2] Production Timeline - Full production is anticipated to be achieved by 2026, with daily full capacity expected in 2027-2029 [2] - The company is actively exploring for additional reserves and has initiated deep exploration efforts [2] Product Pricing and Sales - The pricing coefficient for products ranges between 90%-95%, depending on moisture and metal content [2] - Sales of trial production products will comply with government regulations, with detailed sales data to be included in the 2025 annual report [1] Acquisition Strategy - The company plans to focus on acquiring high-quality precious metal mining projects, targeting operational mines with a service life of over 15 years [2] - Acquisitions will be evaluated based on price and market conditions, avoiding high-cost purchases [2] Taxation and Financials - The company has seen a significant increase in tax payments compared to the previous year, as detailed in the 2025 semi-annual report [4] - Future tax obligations will depend on local government policies [4]