Kings(SH:603505)2022-11-17 14:24Group 1: Investor Relations Activities - The company conducted investor relations activities through online conference calls and offline research from June 1 to June 15, 2022 [1] - Notable participants included Southern Fund, Guosen Securities, and various asset management firms [2][3] Group 2: Resource Strategy and Utilization - The company plans to enhance its fluorite resource utilization, focusing on a partnership with Baogang, which has a fluorite resource reserve of 130 million tons [4] - The company aims to process over 6 million tons of associated ore annually after the completion of the production line with Baogang [4] Group 3: Core Competencies and Technology - The company possesses strong core technology in resource utilization and mineral selection, which is considered a competitive advantage [5] - The company has made significant progress in solving mineral selection challenges, particularly in extracting associated fluorite resources [5] Group 4: Market Dynamics and Growth - The global fluorite production is stable at around 7 million tons annually, with China accounting for approximately two-thirds of this output [6] - The company anticipates growth in demand from emerging industries such as new energy and materials, which will drive future supply expansion [7] Group 5: Financial Performance and Capital Strategy - The company experienced rapid growth in the first three years post-IPO, but growth has slowed in the last two years due to market conditions [8] - The company emphasizes that capital market activities should align with its operational needs and will not pursue unnecessary financing [8] Group 6: Production Capacity and Pricing - The Baogang project is expected to achieve an annual production capacity of 800,000 tons of fluorite concentrate, with a target of 200,000 to 300,000 tons in output this year [10] - Recent price stability in fluorite is attributed to changes in import/export dynamics, with a total export volume of approximately 27,000 tons in the first half of the year [11]