GZRS(SH:600367)2024-05-10 08:55Group 1: Mining Operations - The company has two manganese mines with a total production capacity of approximately 250,000 tons per year, with an actual output of 114,200 tons in 2023 [2] - The two mines are currently undergoing reserve verification and safety production license processing for 2024 [2] Group 2: Product Output and Applications - The output of electrolytic manganese dioxide in 2023 was 17,200 tons, primarily used in primary batteries and lithium manganese oxide cathode materials [2] Group 3: Financing and Investment - The company did not initiate the construction of the high-purity manganese sulfate project due to significant price declines in 2023, aiming to protect investor interests [2] - The controlling shareholder, Hongxing Group, subscribed to 19,157,720 shares in the 2022 refinancing, with a lock-up period of 36 months for their shares and 6 months for other subscribers, which were unlocked on May 6, 2024 [3] - The funds raised in the 2022 refinancing were allocated for acquiring 75% of Qingdao Hongdie New Materials Co., Ltd., a 50,000 tons/year high-purity manganese sulfate project, and to supplement working capital [3] Group 4: Financial Performance - In the first quarter of 2024, the company achieved a turnaround with a net profit attributable to shareholders of 5.5857 million yuan, excluding non-recurring gains and losses [3]