SDR(SZ:000603)2025-12-23 11:18Group 1: Mining Operations and Production Capacity - Yindu Mining's Baiyinda Silver Polymetallic Mine has a production scale of 900,000 tons/year, maintaining good profitability and cost control, with silver production costs being the lowest among the company's operating mines [2][3] - The average annual production of Yindu Mining is currently around 500,000 to 600,000 tons due to increased mining difficulty [2] - Jinshan Mining's production capacity is expected to gradually increase to 480,000 tons/year following the completion of technical upgrades [4] - Honglin Mining's Caiyuanzi Copper-Gold Mine has a licensed production scale of 396,000 tons/year, currently in trial production [6] Group 2: Resource Exploration and Future Plans - Yindu Mining is working on integrating mining rights with an additional exploration area of 1.43 square kilometers, aiming to obtain a new mining license [3] - The company plans to expand production capacity for both Guangda Mining and Jindu Mining, each currently at a licensed production scale of 300,000 tons/year and operating at full capacity [5] - The company is focusing on acquiring quality metal resources with a service life of over 15 years for future mergers and acquisitions [15] Group 3: Financial Performance and Dividend Policy - The total cash dividend for the last three accounting years (2022-2024) amounts to ¥120,436,535.55, representing 40.03% of the average annual net profit [11][12] - The company will consider various factors, including industry characteristics and operational models, when formulating future dividend policies [12] Group 4: Sales Strategy and Pricing - The company's sales channels primarily include smelters and metal processing enterprises, with pricing based on average market prices from Shanghai Gold Exchange and other platforms [10] - The pricing for silver and gold content in lead and zinc concentrates is determined based on assay results and agreed coefficients in contracts [10] Group 5: Capital Expenditure and Financing - The company has stable cash flow and plans to use its own funds for mining construction while also considering financing options from financial institutions [16] - There are intentions to finance through acquisition loans and project loans as needed [16] Group 6: Future Production Estimates - The expected silver production from Dongsheng Mining's Bayannur Silver Polymetallic Mine is projected to increase once the construction is completed [7][8] - The anticipated gold production will also rise following the official production commencement of Honglin Mining's Caiyuanzi Copper-Gold Mine [9]