On June 17 (Tuesday), drilling results from Foran Mining's McIlvenna Bay project in east-central Saskatchewan, Canada, indicated an ore copper grade of 1.55%. The McIlvenna Bay project is located in the Flin-Flon greenstone belt, with resources totaling 39 million mt, featuring a copper grade of 1.2%, a zinc grade of 2.16%, 0.41 g/t of gold, and 14 g/t of silver. A feasibility study released by the company in 2022 revealed that the mine has an 18-year mining life, with an average annual production of 34.5 million pounds of copper, 58.6 million pounds of zinc, 17,500 ounces of gold, and 435,200 ounces of silver.

"In 2025, the overall end-use market demand is gradually recovering. Currently, our company has strong order demand in high-end consumer electronics, automotive, and industrial sectors, and we expect revenue to maintain rapid growth this year," said Chenjie Ruan, Chairman and General Manager of Southchip Semiconductor Technology, at today's (June 9) earnings conference. In Q1 this year, Southchip's net profit declined significantly. Data shows the company's Q1 revenue reached 685 million yuan, up 13.86% YoY, while net profit attributable to shareholders was 63.4926 million yuan, down 36.86% YoY, and adjusted net profit stood at 56.2623 million yuan, down 43.76% YoY. The company attributed the profit decline in its financial report mainly to increased R&D investment. Its Q1 R&D expenditure totaled approximately 124 million yuan, up 37.84% YoY. Ruan told the Sci-Tech Innovation Board Daily that Southchip will continue focusing on high-end consumer electronics, automotive electronics, industrial, AI, and communication sectors, with more new product codes expected to launch and enter mass production this year. As business scale expands further, revenue proportions from high-end consumer, automotive, and industrial sectors are projected to increase further in 2025. The Sci-Tech Innovation Board Daily noted that currently, Southchip is in rapid expansion phase in automotive sector . In 2024, its automotive business grew 179%, covering auto body control, smart driving, smart cockpit, and onboard charging. The company has launched multiple new products in these areas, including some high-end PMICs and driver chips for domain controllers. Ruan stated at the conference that in 2025, the company will introduce products for more sub-sectors, with automotive business expected to maintain rapid growth momentum and further increase its proportion. He expressed confidence in achieving fast growth and rising share for automotive electronics in coming years. Regarding core mobile device business, Ruan said, "This segment is expected to continue growing this year, driven by charging management, display power management, and lithium battery management businesses." In wearables market, Southchip already has chip products like DC-DC, Charger, lithium battery protection, and wireless charging applied in smartwatches/bands, TWS, and VR/AR end-use products. Ruan indicated the company will further strengthen product deployment in wearables market. In March this year, Southchip Technology proposed to change its initial public offering (IPO) investment project, the "Construction Project of the Testing Center," into the "Construction Project of the Chip Testing Industrial Park." The total investment for the planned chip testing industrial park project is approximately 4.67 times that of the original testing center project, amounting to 1.443 billion yuan. The project's planned construction period has been extended from three years to nine years. Regarding the latest progress of this project, Ruan Chenjie stated that the construction project of the chip testing industrial park has completed the registration of the implementing entity and the opening of a special account for the raised funds. Currently, the company is advancing the design phase of the park's construction. The first phase of the investment project is expected to commence production in 2027, gradually covering the company's capacity needs in the power management chip testing segment. In terms of mergers and acquisitions (M&A), in January this year, Southchip Technology announced its intention to acquire 100% equity of MCU producer Sunrise Micro for 160 million yuan in cash. Regarding the latest progress of this acquisition project, Ruan Chenjie stated that the company has completed the acquisition transaction of Sunrise Micro in Zhuhai so far and will continue to promote the integration of both parties in the M&A process. In response to investors' concerns about Sunrise Micro's new order situation, Ruan Chenjie said that the integration work between Sunrise Micro in Zhuhai and the company is progressing as planned. Currently, Sunrise Micro's business orders are in line with industry conditions. Regarding overseas business, Ruan Chenjie stated that expanding overseas markets is a long-term development strategy for the company. Currently, the company has established a presence in Singapore, South Korea, and other locations, targeting customers in high-end consumer electronics, automotive, and other sectors. This year, the company is expected to achieve new breakthroughs with key overseas customers.

Recently, the Fourth Engineering Company of MCC Construction Engineering Group Co., Ltd. successfully won the bid for the large-scale aluminum alloy extrusion materials construction project of Southwest Aluminum (Group) Co., Ltd. The project is located in the Xipeng Industrial Park, Jiulongpo District, Chongqing, covering an area of approximately 5,195 square meters, with a newly constructed floor area of approximately 4,807.84 square meters, including production workshops and outdoor parking lots. The safety level of the buildings is Grade I, adopting a frame structure with a maximum height of 18.50 meters. This project is one of the 100 major projects of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) and a key project serving the country's major strategies. Upon completion, it will house the world's largest double-action aluminum extrusion press. At the month-end of December 2024, the kick-off ceremony for the large-scale aluminum alloy extrusion materials construction project of Southwest Aluminum was held, marking substantial progress in the project's construction. This project represents a collaborative effort between Southwest Aluminum, China National Heavy Machinery Research Institute Co., Ltd., and Erzhong Equipment, engaging in in-depth cooperation on the world's largest 250MN double-action forward extrusion press.

[Jinyang Share: Plans to Issue Convertible Bonds to Raise No More Than 980 Million Yuan] Jinyang Share (301210.SZ) announced in a public notice that it plans to issue convertible bonds to raise no more than 980 million yuan. The funds raised will be used for the Jinyang Share Lithium Battery Precision Structural Components Project (Xiamen), the Jinyang Share Lithium Battery Precision Structural Components Project (Xiaogan), and to supplement working capital. (Financial Associated Press) [Jinlongyu: Related Businesses of Solid-State Batteries and Their Key Materials Have Not Yet Formed Long-Term Stable Revenue] Jinlongyu (002882.SZ) issued a public notice regarding abnormal fluctuations in stock trading, stating that the company's research and development of technologies related to solid-state batteries and their key materials constitute cross-border investments. Although orders have been received, the related businesses have not yet formed long-term stable revenue and do not currently have a significant impact on the company's overall performance. Investors are advised to make cautious decisions and be aware of investment risks. (Financial Associated Press) [BYD's Blade Battery Passes New National Standard Ahead of Schedule] Li Yunfei, General Manager of BYD Group's Brand and Public Relations Department, posted on Weibo that BYD's Blade Battery and Flash-Charging Blade Battery have both passed all tests of the new national standard for batteries ahead of schedule, obtaining certification from the authoritative institution, China Automotive Technology and Research Center. (Financial Associated Press) [Yinglian Share: 2-Day Consecutive Limit-Up; Conducted On-Site Investor Survey on May 22, Introducing Development of FMCG Metal Packaging Business and Composite Current Collector Business] Yinglian Share (002846.SZ) issued a public notice regarding abnormal fluctuations in stock trading, stating that the company conducted an on-site investor survey on May 22, 2025, introducing the development of its FMCG metal packaging business and composite current collector business to investors: The easy-open end segment of FMCG metal packaging products has developed steadily, with the company accumulating profound experience in intelligent production and lean management. The industrialisation progress of the composite current collector segment continues to advance, with the company continuously expanding its capacity, gradually securing small-batch orders in downstream market development, and advancing cooperation with leading battery clients. Meanwhile, the company is accelerating its R&D process, developing lithium metal/composite current collector anode integrated materials for solid-state batteries, and continuously expanding applications in various types of batteries. (Financial Associated Press) [Xiaomi Group: Delivered 75,869 New Xiaomi SU7 Series Vehicles in Q1, with Smart EV Revenue Reaching 18.1 Billion Yuan] Xiaomi Group announced that in the first quarter of 2025, it delivered 75,869 new Xiaomi SU7 series vehicles. Meanwhile, the company will expand its capacity, with the cumulative deliveries of the Xiaomi SU7 series exceeding 258,000 units. In the first quarter of 2025, the total revenue of the innovative business segment, including smart EVs and AI, was 18.6 billion yuan, of which smart EV revenue was 18.1 billion yuan and other related business revenue was 500 million yuan. This quarter, the gross profit margin of the innovative business segment, including smart EVs and AI, was 23.2%. In Q1 2025, the operating loss of the innovative business segment, including smart EVs and AI, was RMB 500 million. [The automotive price war has put significant pressure on suppliers, with profits falling below 10% and payment terms extending up to 120 days. Industry insiders: This may directly impact automotive safety.] Automakers such as BYD, Geely Galaxy, and SAIC GM have successively launched price cuts and sales promotions, sparking market attention and potentially igniting a new round of price wars in China's automotive market. Previously, reporters visited multiple suppliers and found that as the "price war" intensifies in China's automotive market, the profit margins of upstream enterprises have been continuously compressed to 10%, with payment terms extending up to 120 days. Industry insiders believe that the "price war" may lead suppliers into losses and pose risks to automotive quality and safety. Related Reading: [SMM Analysis] China's domestic lithium carbonate imports in April 2025 released April battery materials import and export data released: Both spodumene and lithium carbonate imports increased, with the latter's exports surging! [SMM Special Report] Cobalt product quotes collectively decline: Refined cobalt drops by RMB 6,200; cobalt intermediate product smelters' willingness to sell increases [Weekly Observation] Spot price of refined cobalt falls [SMM Weekly Review of Refined Cobalt Market] [SMM Weekly Review] Lithium carbonate prices continue to decline; short-term market remains under pressure [SMM Analysis] Can titanium-doped iron phosphate be the perfect upgrade for the high-end market? [SMM Analysis] China's lithium hydroxide exports reached 4,222 mt in April, basically flat MoM [SMM Analysis] China's cobalt intermediate product imports slightly increased in April [SMM Analysis] Both China's unwrought cobalt exports and imports surged in April 2025 [SMM Analysis] China's domestic spodumene imports totaled 623,000 mt in April, up 16.5% MoM [SMM Analysis] Both imports and exports of artificial graphite increased MoM in April [SMM Data] LiPF6 import and export data for April 2025 [SMM Analysis] Analysis of ternary cathode precursor exports in April [SMM Analysis] April ternary cathode import and export data released: Imports up 37% MoM, exports up 13% MoM [SMM Announcement] Adjustments to weekly lithium carbonate data points around the Labour Day holiday Driven by multiple positive factors! The auto parts sector experiences a "limit-up" rally, with over 12 stocks hitting their daily limits! [Hot Stocks] Refined cobalt quotes slightly recover, while Co3O4 continues to decline; the market awaits the aftermath of the June DRC ban [Weekly Observation] [SMM Industry Insights] Global cobalt industry chain changes and Chinese market outlook following the DRC's cobalt export ban: Key points from Wang Cong, General Manager of SMM's Industry Research Department Tariff suspension stimulates LiPF6 futures to rise over 3%; can the expectation of a rush in exports help lithium carbonate "stand up"? [[SMM News] Retail sales growth of passenger vehicles in April hit a new high in nearly a decade, with automobile production and sales exceeding 10 million units in the first four months! [SMM Special Report]

Shagang's Casting and Rolling Thin Strip High-Grade Silicon Steel Project Achieves Full-Line Commissioning and Production The Zhangjiagang Shagang Casting and Rolling Thin Strip High-Grade Silicon Steel Project is a key project for the transformation and upgrading of China's steel industry. As another high-grade silicon steel project participated in by MCC South China Automation Co., Ltd., this project demonstrates the excellent application effects of MCC South China's E-CONVERT series products in high-end product production lines. Currently, the production lines primarily implemented by the company have achieved full-line commissioning and production, with the remaining production lines in critical stages such as inverter parameter tuning, joint commissioning of drive equipment, equipment communication configuration, and control system architecture setup. During the Labour Day holiday, the project team remained on-site around the clock, meticulously planning the modular deployment plan for the full-line automation system to achieve dual guarantees of production efficiency and construction progress, propelling the project forward at an "accelerated pace.

According to SMM, the shipment of copper cathodes produced by the TFM copper mine in the DRC has recently been hindered. The smelter has an annual capacity of approximately 450,000 mt of copper cathodes.