SDR(SZ:000603)2025-09-29 09:38Group 1: Mining Operations - The Caiyuanzi Copper Mine is located in the Ganzi-Litang-Muli fault zone, an important precious metal mineralization belt in China [1] - The average copper grade at the Caiyuanzi Copper Mine is 0.48%, with a licensed production scale of 396,000 tons/year [2] - Dongsheng Mining's Bayannur Silver Polymetallic Mine has a licensed production scale of 250,000 tons/year and is expected to start production by 2026 [3] Group 2: Future Production and Capacity - The company anticipates an increase in silver production following the completion of the Bayannur Silver Polymetallic Mine [4] - Jingshan Mining's production capacity is expected to gradually increase to 480,000 tons/year, with plans to apply for further expansion based on resource availability [4] - Both Guangda Mining and Jindu Mining have a licensed production scale of 300,000 tons/year and are currently operating at full capacity [3] Group 3: Financial and Taxation Insights - The company has seen a significant increase in tax payments compared to the same period last year, as detailed in the 2025 semi-annual report [5] - Future tax payments will depend on local government policy requirements [5] Group 4: Mergers and Acquisitions Strategy - The company plans to focus on acquiring high-quality precious metal resources, targeting mines with a service life of over 15 years and necessary mining permits [2] - The company aims to avoid high-priced acquisitions and will consider market conditions to expedite production [2]