2025年上半年，公司主营业务收入主要来自子公司塔中矿业有限公司。塔中矿业有限公司生产系统运行 平稳高效，通过持续优化生产组织和工艺流程，主要金属产品产量实现全面增长。其中，铅金属量2.92 万吨，同比增长44.53%；锌金属量2.84万吨，同比增长25.15%；铜金属量737.82吨，同比增长29.90%； 银金属量46.80吨，同比增长40.08%。在产能建设方面，塔中矿业有限公司重点推进的选矿厂抛废项 目、600万吨/年技改项目和低品位矿石选精项目均取得积极进展。其中，选矿厂技改项目主体工程预计 年内完成，将有效提升公司选矿处理能力；低品位矿石选精项目的重启进一步拓展了资源利用空间。这 些重点项目的顺利实施，为公司未来产能释放和可持续发展奠定了坚实基础。 此外，公司备受市场关注的阿根廷盐湖项目顺利完成前期合规手续办理和基础设施建设方案优化。公司 表示，项目严格执行进度和资金管控，通过技术创新和精细化管理实现运营成本显著下降。下半年将重 点推进盐湖提锂主体工程建设，进一步加强成本管控。(CIS) 8月25日晚间，西藏珠峰（600338）发布2025年半年度报告，公司上半年实现营业收入11.23亿元，同比 ...

Core Viewpoint - Jin Hui Co., Ltd. reported a strong performance in its 2025 mid-year financial results, with significant increases in revenue and net profit compared to the previous year [1] Financial Performance - Total revenue reached 792 million yuan, a year-on-year increase of 10.5% [1] - Net profit attributable to shareholders was 253 million yuan, up 19.62% year-on-year [1] - In Q2 alone, revenue was 449 million yuan, reflecting a 7.46% increase year-on-year, while net profit for the quarter was 159 million yuan, up 20.33% [1] - Gross margin improved to 64.18%, an increase of 6.49% year-on-year, and net margin rose to 31.76%, up 9.09% [1] Cost and Expenses - Total selling, administrative, and financial expenses amounted to 175 million yuan, accounting for 22.1% of revenue, which is a 20.11% increase year-on-year [1] - Management expenses increased by 26.15% due to new costs associated with the closure of a tailings pond at the Jiangluo mining area [3] Cash Flow and Assets - Operating cash flow per share was 0.34 yuan, a year-on-year increase of 19.51% [1] - The company experienced a significant increase in accounts receivable, which rose by 81.23% to 24.30 million yuan [3] - Cash and cash equivalents decreased by 24.65% to 587 million yuan [3] Debt and Liabilities - Interest-bearing liabilities increased by 51.38% to 3.863 billion yuan [1] - The company’s debt-to-asset ratio reached 50.82%, indicating a high level of leverage [5] - Long-term borrowings rose by 65.94% due to increased loans from financial institutions [3] Return on Investment - The company's return on invested capital (ROIC) was reported at 9.97%, with a historical median ROIC of 11.31% since its listing [4]

Group 1: Company Overview - China Nonferrous Metal Construction Co., Ltd. has a strong competitive edge in international engineering contracting within the nonferrous metals sector, leveraging project development and management experience, brand advantages, and resource integration capabilities [2] - The company focuses on complex mining projects, emphasizing energy conservation, environmental protection, and digital/automation technology advancements [2] Group 2: Project Distribution and Performance - The company has established a significant presence in regions such as Kazakhstan, Congo (DRC), India, Indonesia, and Vietnam, undertaking key projects in nonferrous metals, oil and petrochemicals, and mining [2] - As of 2024, the company reported a revenue of RMB 43.01 billion from engineering contracting, reflecting a year-on-year increase of 7.39% [2] - The ENR international contractor ranking improved from 168th to 114th [2] Group 3: Order Backlog and Future Prospects - The total amount of unfinished contracts is approximately RMB 361.5 billion, indicating a robust project reserve that secures future revenue [2] - In 2024, the new contract amount reached RMB 164.88 billion, a year-on-year increase of 103.71% [2] Group 4: Resource Development - The company holds mining rights for five mines and three exploration rights, with total metal resources including 225.62 thousand tons of zinc and 132.03 thousand tons of lead [3] - The average zinc grade at the Aobao Zinc Mine is 30.86%, while the average lead grade is 0.49% [3] - Future resource development strategies include mergers and acquisitions, resource exploration, and enhancing strategic collaboration [3]