According to Qichacha APP, Guangdong Xiangyu Xinmei New Materials Co., Ltd. was recently established, with a business scope including: sales of high-performance non-ferrous metals and alloy materials; sales of metal materials; sales of metal products; and sales of building materials. Qichacha's equity structure shows that the company is jointly held by Xiamen Xiangyu Nonferrous Metals Co., Ltd., a wholly-owned subsidiary of Xiamen Xiangyu Group, and others.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 28 Jul , 2026

[SMM Stainless Steel Daily Review] SS Futures Continue to Pull Back, Stainless Steel Spot Prices Drop According to SMM on July 28, SS futures moved further downward in a pullback. Dragged down by the overall decline in nonferrous metals futures, SS futures fell in tandem. By the close, the most-traded SS contract settled at 14,515 yuan/mt. In the spot market, impacted by the successive pullback in SS futures, market confidence continued to weaken. Moreover, stainless steel mills that had previously halted production resumed operations, increasing the supply of materials. The market, already with weak consumption, faced mounting absorption pressure, and stainless steel offers also pulled back. The most-traded SS futures contract, SS2609, at 10:15 am, was at 14,540 yuan/mt, down 170 yuan/mt from the previous trading day. Wuxi’s 304/2B spot premiums were in the range of 430-830 yuan/mt. In the spot market, cold-rolled 201/2B coil average price in Wuxi remained flat; cold-rolled unedged 304/2B coil average price in Wuxi (-50 yuan/mt) and Foshan (-50 yuan/mt); cold-rolled 316L/2B coil price in Wuxi (-75 yuan/mt); hot-rolled 316L/NO.1 coil in Wuxi remained flat; cold-rolled 430/2B coil in both Wuxi and Foshan remained flat. This week, macro and industry tailwinds converged, supporting nickel and stainless steel futures to maintain a consolidating on a strong note trend. On the macro front, US inflation expectations pulled back, alongside the ongoing US-Iran geopolitical conflict that continued to disrupt market risk sentiment. On the industrial front, earlier expectations of limited incremental growth in Indonesia's RKAB nickel mine supplementary quotas continued to simmer, effectively stabilizing the bottom of nickel prices and driving SHFE nickel to drift higher...

“Tin” Leading the Future: Industry Transformation and Value Reshaping in the New Cycle Conference Background At present, the global tin industry is standing at a historic turning point. Traditional cycle logic has been completely disrupted, and its strategic value has become fully evident. In 2026, the tin market is exhibiting an unprecedentedly complex landscape and profound changes: I. Deep Restructuring of the Supply-Demand Pattern, with Strategic Attributes Reaching an Unprecedented Level The global tin resource static reserve-to-production ratio is only 14 years, and scarcity is becoming increasingly prominent. The supply side is facing “triple pressure”: repeated setbacks in Myanmar’s production resumptions, continued tightening of Indonesia’s policies, and elevated geopolitical risks in the DRC; resource constraints have become the new normal. Meanwhile, the demand structure has undergone a fundamental shift, and tin has become a strategic resource connecting traditional manufacturing with the digital future. II. The Pricing System Breaks Historical Records, and the Industry Ecosystem Faces Reshaping In early 2026, SHFE tin prices broke through 470,000 yuan/mt, setting a record high. This price breakthrough is not only a reflection of the supply-demand imbalance, but also a sign of value reassessment in the tin industry. Traditional trading models, risk management systems, and supply chain collaboration approaches are all in urgent need of innovative breakthroughs. III. Technology-Driven and Green Transformation Gives Rise to a New Symbiotic Ecosystem Digital and intelligent technologies are deeply empowering the tin industry chain. Global green transformation requires the tin industry to upgrade toward low-carbonisation and a circular economy; recycled tin recovery and green smelting processes have become the only way forward. All links of the industry chain must shift from competition to collaboration, building an open, resilient, and innovative symbiotic system. Against this backdrop, on August 19-21, 2026 in Changsha, Hunan the 2026 SMM (16th) Tin Industry Chain Conference will bring together global industry elites for joint discussions. Guangxi Huaxi Nonferrous Metals Co., Ltd. will attend this grand event, joining industry peers to discuss industry development trends and work together to drive the tin industry to new heights. Click to register for the conference immediately, and jointly witness and participate in this extraordinary and far-reaching industry event, creating a brilliant new chapter together! Guangxi Huaxi Nonferrous Metals Co., Ltd. (hereinafter referred to as “Huaxi Nonferrous”: 600301) is a publicly listed firm actually controlled by Guangxi Key Metals Industry Development Group Co., Ltd. (hereinafter referred to as the “Key Metals Group”), a large state-owned enterprise directly under the People’s Government of the Guangxi Zhuang Autonomous Region. It is also the only state-controlled publicly listed entity in Guangxi’s nonferrous metals industry, bearing the core mission of safeguarding the strategic security of the nation’s key metals and promoting high-quality regional industrial development. Guangxi Huaxi Nonferrous Metal Co., Ltd (hereinafter referred to as “GHNM”, stock code: 600301) is a listed company effectively controlled by Guangxi Critical Metals Industry Development Group Co., Ltd. (hereinafter referred to as the “Critical Metals Group”), a large state-owned enterprise directly under the People’s Government of Guangxi Zhuang Autonomous Region. GHNM is also the only state-owned listed company in the nonferrous metals industry in Guangxi, undertaking the core mission of safeguarding national strategic security of critical metals and promoting high-quality regional industrial development. As a Guangxi-based enterprise with a global reach in the nonferrous critical metals industry, GHNM is headquartered in Nanning and operates more than ten branches and subsidiaries. The Company manages total assets exceeding RMB 12 billion and employs over 6,600 staff. It has established an entire industry chain layout covering exploration, mining, mineral processing, smelting, deep processing, and advanced materials, with its tin smelting business ranking among the top five producers globally. The Company possesses exceptional resource endowments. Its core mining cluster (including Tongkeng Mine, Gaofeng Tin-Antimony Mine, Wuji Lead-Antimony Mine, and Fozichong Lead-Zinc Mine) has proven reserves of six key minerals—tin, antimony, indium, zinc, lead, and silver—all ranking first in Guangxi. Among them, the retained resources of critical metals tin, antimony, and indium rank among the top globally, laying a solid resource foundation for the Company's sustainable development. As a Guangxi-based enterprise with a global reach in the nonferrous critical metals industry, GHNM is headquartered in Nanning and operates more than ten branches and subsidiaries. The Company manages total assets exceeding RMB 12 billion and employs over 6,600 staff. It has established a fully integrated industrial chain covering exploration, mining, mineral processing, smelting, deep processing, and advanced materials, with its tin smelting business ranking among the top five globally. The Company possesses strong resource endowment. Its core mining cluster (including Tongkeng Mine, Gaofeng Tin-Antimony Mine, Wuji Lead-Antimony Mine, and Fozichong Lead-Zinc Mine), has identified reserves of six key minerals including tin, antimony, indium, zinc, lead, and silver, which all rank first in Guangxi. Among them, the critical metals retained reserves of tin, antimony, and indium rank among the top globally, providing a solid resource foundation for the Company’s sustainable development. GHNM is deeply engaged in the high-end manufacturing track. Its main products cover basic metal products such as tin ingots, antimony ingots, indium ingots, lead ingots, zinc ingots, and precious metals, as well as high-end new materials including high-purity metals, solder, and alloys, which are widely used in strategic emerging industries such as new energy, PV, AI chips, aerospace, and intelligent equipment. The “Jin Hai” brand tin ingots are registered on the Shanghai Futures Exchange and the London Metal Exchange, and the product quality is highly recognized by the industry. GHNM is deeply engaged in the high-end manufacturing sector of Critical Metals. Its core products include refined metals such as tin ingots, antimony ingots, indium ingots, lead ingots, zinc ingots, and precious metals, as well as advanced new materials including high-purity metals, solders, and alloys. These products are widely applied in strategic emerging industries such as new energy, photovoltaics, AI chips, aerospace, and intelligent equipment manufacturing. The Company’s “Jinhai” brand tin ingots are registered with the Shanghai Futures Exchange (SHFE) and the London Metal Exchange (LME), and their quality is highly recognized by the industry. Leveraging strong capabilities in technological innovation and green transformation, GHNM has established one of the first national demonstration bases for the comprehensive utilization of mineral resources, a national demonstration base for the comprehensive utilization of indium, tin and antimony resources, and unmanned and intelligent mining demonstration stopes in hazardous operating areas. GHNM has received numerous prestigious honors, including “National Outstanding Unit in Geological Exploration,” “National Green Mine Enterprise,” and “State-owned Enterprise Reform Demonstration Enterprise” recognized by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). GHNM has also been recognized as a leading “chain owner” enterprise in Guangxi, ranked among the Top 50 manufacturing enterprises in the region, and selected as an outstanding sustainable development case among Chinese listed companies. Leveraging strong capabilities in technological innovation and green transformation, GHNM has established one of the first national demonstration bases for the comprehensive utilization of mineral resources, a national demonstration base for the comprehensive utilization of indium, tin and antimony resources, and unmanned and intelligent mining demonstration stopes in hazardous operating areas. GHNM has received numerous prestigious honors, including “National Outstanding Unit in Geological Exploration,” “National Green Mine Enterprise,” and “State-owned Enterprise Reform Demonstration Enterprise” recognized by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). GHNM has also been recognized as a leading “chain owner” enterprise in Guangxi, ranked among the Top 50 manufacturing enterprises in the region, and selected as an outstanding sustainable development case among Chinese listed companies. Adhering to the corporate mission of “Sustainably serving society with limited resources through diligence and wisdom,” GHNM, guided by the strategic layout of the critical metals group, is accelerating mine expansion, industry chain extension, and the cultivation of new quality productive forces, and will further improve the industrial ecosystem and release growth potential. Guided by its mission of “leveraging diligence and wisdom to ensure that finite resources sustainably serve society,” GHNM is advancing under the strategic direction of the Critical Metals Group, accelerating mine capacity expansion, extending the industrial chain, and fostering new quality productive forces. The Company will continue to enhance its industrial ecosystem and unlock new growth potential. Going forward, GHNM will continue to deepen its strategy of “strengthening, supplementing, and extending the industrial chain,” drive the transformation of resource advantages into development strengths through technological innovation, and fully build a critical metals industrial chain with national influence and international competitiveness. The Critical Metals Group and GHNM sincerely invite enterprises in and outside China and talented professionals from all sectors to visit Guangxi, discuss cooperation, seek common development, and jointly realize the beautiful vision of “Silver gracing the globe, happiness coalescing in Huaxi.” Looking ahead, GHNM will continue to deepen its strategy of strengthening, complementing, and extending the industrial chain, leveraging technological innovation to transform resource advantages into development strengths, and striving to build a Critical Metals value chain with strong national influence and global competitiveness. The Critical Metals Group and Huaxi Nonferrous sincerely invite partners from across China and around the world, as well as talented professionals from all sectors, to visit Guangxi, explore opportunities, and pursue shared development. Together, we aim to realize the vision of “Silver gracing the globe, happiness coalescing in Huaxi.” Contact Tel: 0771-3160697 15877261682 Email: hxys-yx@china-tin.com Website: https://www.china-tin.com/ Long press or scan to register now 2026 SMM (16th) Tin Industry Chain Conference

The first half of 2026 is already in the past. At the start of H2, industry chain enterprises have begun to release their H1 2026 performance forecasts collectively. Notably, against the backdrop of a significantly higher YoY lithium price center, stable demand in the NEV industry, and a continuously booming energy storage sector, most enterprises in the lithium industry chain expect varying degrees of performance improvement. SMM has compiled the performance forecast situations of some enterprises in the industry chain, as follows:

[SMM Tin Morning Brief: SHFE tin consolidates on a strong note, tin price stands at 418,000 yuan/mt]