NFC(SZ:000758)2025-05-21 08:26Group 1: Project Development - The Darui lead-zinc mine project in Indonesia has a total resource/reserve of 20.7 million tons of ore, with zinc metal amounting to 225,620 tons and lead metal amounting to 132,030 tons, ranking high in both resource quantity and grade among undeveloped lead-zinc projects globally [2] - The project is currently in the construction phase, focusing on financing and technical feasibility studies for tailings-free processing [2] Group 2: Exploration and Resource Expansion - In 2024, the company conducted exploration to increase reserves at the Baiyin Noer lead-zinc mine, adding 44,000 tons of lead-zinc metal [2] - The company is implementing various resource expansion strategies, including domestic exploration and international cooperation in Kazakhstan and Indonesia [2][3] Group 3: Business Strategy and Financial Performance - The company aims to develop resource bases in Northwest China (Qinghai, Inner Mongolia) and Central Asia (Kazakhstan) while pursuing opportunities along the Belt and Road Initiative [3] - In 2024, the engineering contracting business revenue is projected to grow by 7.39%, with new contract amounts reaching 16.488 billion yuan [3] Group 4: Cash Flow and Operational Challenges - The fluctuation in operating cash flow is attributed to the timing of revenue recognition based on project progress and increased procurement costs for engineering contracts [3]