Qatar Aluminium Manufacturing Company (Qamco) released its 2025 financial results, showing a net profit of 768 million Qatari riyals, a significant increase from 614 million Qatari riyals in the same period of the previous year. Supported by rising aluminum prices, solid operating performance, and rigorous financial management, the company's earnings per share were 0.138 Qatari riyals.

In recent years, the significant fluctuations in lithium prices have subjected enterprises across the industry chain to a rollercoaster of experiences, encompassing both the "sweet and bitter" aspects of the world.

With the rapid development of the global economy and advancements in science and technology, rare earth elements, as indispensable key materials in modern high-tech industries, are increasingly receiving significant attention from governments, enterprises, and scientific research institutions worldwide. The distribution of global rare earth resources is highly uneven, with China, as the largest producer and consumer of rare earths, playing a crucial role in supplying the global market. However, with increasingly stringent environmental protection policies and rising costs of resource extraction, the rare earth industry is facing major challenges in sustainable development and transformation and upgrading. Meanwhile, other countries are accelerating the development of rare earth resources and the layout of supply chains, striving to gain more influence and market share in this strategic industry. Against this backdrop, the 2025 SMM (2nd) Rare Earth Industry Forum will be held. The forum aims to gather the wisdom and strength of governments, enterprises, academia, and investors to jointly explore the future development trends, technological innovations, market dynamics, and policy environments of the rare earth industry. In-depth discussions will be held on these topics. It is expected that through this forum, all sectors can reach a consensus, jointly address the opportunities and challenges facing the rare earth industry, and promote the healthy and stable development of the industry. Leveraging the platform of the 2025 SMM (2nd) Rare Earth Industry Forum, we will jointly witness the new opportunities and challenges facing the rare earth industry, formulate strategies, work hand in hand, contribute to the sustainable development of the global economy, and shape a bright future for the rare earth industry. At this conference, North Zhongxin Antai New Materials (Inner Mongolia) Co., Ltd. will make a grand appearance. Along with peers from upstream and downstream of the rare earth industry, the company will engage in in-depth discussions on the pain points and challenges of industry development, jointly explore business opportunities for win-win cooperation, and discuss strategies to promote high-quality development of the industry. Click on the registration form to register immediately for the conference. Gather momentum, plan for the future, and embark on a new journey. We look forward to seeing you in Ningbo. The company is located at No. 3 Ruicheng Road, Rare Earth High-Tech Industrial Development Zone, Baotou City, Inner Mongolia. The Baotou Rare Earth High-Tech Industrial Development Zone is the only national-level high-tech zone named after rare earth resources in China and the only national-level high-tech zone in the Inner Mongolia Autonomous Region. Our company is situated in the core area of the Rare Earth Industry Application Park within this zone. The surrounding enterprises are all involved in the production, processing, and deep processing of rare earth metals, with strong capabilities in upstream and downstream process integration, smooth technology sharing and complementary mechanisms, and convenient transportation. (1) Product Structure and Production Line Overview The company mainly produces and operates various types of rare earth metals, including four categories: Pr-Nd alloy, lanthanum metal, cerium metal, and lanthanum-cerium alloy. Currently, the company has put into operation a 7,000 mt/year high-purity rare earth metal production line, which operates stably and smoothly. (2) R&D and Technology The company boasts a strong R&D team with comprehensive professional configurations and a reasonable age structure. It has established close industry-university-research cooperation relationships with scientific research institutions such as the Inner Mongolia Rare Earth Quality Supervision and Inspection Research Institute and the Baotou Rare Earth Research Institute. The R&D center has undertaken over 30 scientific research projects, all of which have been successfully implemented, resulting in 3 invention patents and 10 utility model patents. In 2019, the company developed seven technological achievements, including "Rare Earth Oxide Molten Salt Electrolysis," which were evaluated and identified by experts organized by the Chinese Society of Rare Earths. Three of these technologies were rated as domestically leading, and four were rated as domestically advanced. In August 2019, the company became a member unit of the National Rare Earth Standardization Technical Committee. It collaborated with the Baotou Rare Earth Research Institute to draft two industry standards, including "Lanthanum-Iron Alloy," five group standards, such as "Sintered NdFeB Permanent Magnet Materials for Motors," "Cerium Metal," and "Pr-Nd Alloy," and five enterprise standards, including "Lanthanum Metal," "Cerium Metal," and "Neodymium Metal." (3) Testing Center The company has established a testing center that serves as a base for R&D and talent cultivation. While meeting its own production testing and inspection needs, it also provides testing and inspection services for other rare earth enterprises. The testing results are accurate and comprehensive, making it a benchmarking unit among similar rare earth enterprises. In addition, the testing center is equipped with advanced testing equipment from both domestic and overseas sources. Among them, the rapid testing instrument undertakes the testing tasks for all metal products of the company and can issue testing results within 30 seconds. Company Advantages (1) Regional Advantages: Baotou City's advantages in rare earth metal production lie in two aspects. On one hand, Baotou has unique resource advantages, being a world-class rare earth mineral resource production area. Its rare earth ore reserves account for 56% of the world's total and 80% of China's total. On the other hand, Baotou's rare earth industry has developed for over four decades, with a relatively complete industrial system and significant cluster effects. Its unique resource endowments and mature technological accumulation have contributed to Baotou City's prominent competitive advantages in the rare earth industry. (2 ) Industrial Advantages: As a national strategic resource, rare earths possess monopolistic advantages. Stringent access thresholds have been set in mining, separation, deep processing, and application, providing tailored protection for the industry's development. From the outset of establishing the development zone, Baotou positioned itself as a "national-level" rare earth development zone, aiming to be a material science, processing science, and applied science cluster that influences the world, human survival patterns, and national strategic directions. Therefore, the transformation and upgrading by economic and information technology departments, R&D innovation by science and technology departments, clean emissions by environmental protection departments, and preferential policies by tax departments all provide support. Each enterprise entering the park can receive a one-on-one service model from government departments. (3) Corporate Advantages ① The company was merged into China Northern Rare Earth in July 2024, becoming a holding subsidiary of China Northern Rare Earth. This ensures a stable supply of raw materials and also steadily improves the quality of raw materials, thereby further guaranteeing the company's product quality. ② The government provides preferential electricity prices for rare earth enterprises in terms of electricity usage. In March 2018, the company was approved by the Inner Mongolia Industry and Information Technology Department to participate in the quarterly bidding in the Inner Mongolia Power Multilateral Trading Market, enjoying strategic new industry electricity policy support. This gives the company a more advantageous position in terms of electricity costs for rare earth metal processing compared to the southern region. (4) Operating Performance: The company was established in January 2017 and acquired "Baotou Weilinna New Materials Technology Co., Ltd." through equity acquisition. After more than a year of intensive construction, it commenced production in April 2018. Within three years of its establishment, the company achieved rapid development, continuously upgrading from a "small" to a "medium" and then to a "large" scale enterprise. (5) Product Quality: Quality is the lifeblood of a company's survival and development. From the outset of production, the company conducted comprehensive quality management training for all employees, controlling various aspects such as "personnel, machinery, materials, methods, and environment." In high-purity series rare earth metals and alloy products, it can achieve carbon content (6) Safety and Environmental Protection: The company adheres to the philosophy of "high-standard planning and design, high-standard construction and management." In terms of safety, the company has established a safety work leading group and a safety committee, implementing a safety production responsibility system, and formulating safety management systems, safety archives for key units, and emergency evacuation drill plans in accordance with safety standards. In terms of environmental protection, the company adopts all domestically advanced, environmentally friendly, and technologically advanced production processes and equipment, with environmental pollutant emission values being among the lowest in the industry. A new circulating cooling system provides cooling conditions for equipment in the rare earth alloy manufacturing workshop. The waste gas fluoride treatment system uses a three-stage spray, two-stage backwash, and one-stage cyclone plate method. The treatment system is externally connected to a circulating water pool, with all cooling water being recycled and not discharged. There is no production water usage in the NdFeB workshop, truly achieving zero industrial water discharge. In addition, by utilizing the waste heat from the circulating water inside the electrolytic furnace cover, the company realizes internal heating for all buildings in the plant area during winter, achieving energy conservation and emission reduction. (7) Financial Management: From its inception, the company has hired tax experts and accounting experts as senior executives to conduct comprehensive financial planning and establish a sound financial management system. The company's accounting, financial management, and tax management are all carried out in accordance with the standards of publicly listed firms, ensuring accurate, comprehensive, and timely financial data, and establishing a solid financial foundation for the company's long-term development. (8) Cultural Construction: The company has established a labor union organization to regularly carry out work in safeguarding the legitimate rights and interests of employees, transmitting the company's management philosophy, and communicating the demands between the company and employees, achieving the results of "people-oriented, harmonious win-win." Corporate culture is the spiritual guide for the company's development. Since 2018, the company has published a corporate newsletter, with over 30 issues having been edited and printed since its inception. The establishment of the newsletter has created a platform for the company to convey its cultural philosophy and also provided a good platform for employees to understand the company's development, keep abreast of industry trends, and showcase their personal talents. In addition, the company occasionally holds various cultural and sports team activities, which not only enrich employees' cultural lives, enhance their sense of happiness in the enterprise, but also strengthen their cohesion and corporate responsibility. (9) Corporate Honors: In February 2018, the company was designated as a "Pilot Unit for the Transformation and Upgrading of the Rare Earth Industry" by the Ministry of Industry and Information Technology and received financial support for rare earth industry transformation and upgrading projects. In April 2018, it was awarded the Rare Earth High-Tech Zone Key Project Support Fund. In 2019, the company was rated as a national-level high-tech enterprise by the Ministry of Science and Technology and the Ministry of Finance. Our company is a member unit of the National Rare Earth Standardization Technical Committee, a council member unit of the Chinese Society of Rare Earths, a backbone member unit of the Baotou Rare Earth Industry Alliance, an off-campus practical teaching base for the Metallurgical Engineering Excellence Program of Inner Mongolia University of Science and Technology, and a "Green Channel" enterprise in the Rare Earth High-Tech Zone. The company owns the "Zhongxin Antai" trademark. Looking Ahead 1. Expand Production Scale The company is currently constructing an 8,000 mt/year rare earth metal and alloy project, with a planned total investment of 93.2232 million yuan and an additional capacity of 8,000 mt. Upon completion, the annual production capacity will reach 15,000 mt, making it the top rare earth metal enterprise in the surrounding area in terms of capacity. 2. Enrich Product Structure To further expand market share, the company will continuously optimize its product structure and expand into medium and heavy rare earths based on its existing product structure. It plans to add metal and alloy products such as gadolinium-iron alloy, aiming to create a rare earth metal enterprise with a comprehensive product coverage. 3. Automation Construction The company plans to implement technological transformations for "machine substitution" in the rare earth metal production line, aiming to achieve full-process "machine substitution" in rare earth metal production, including automatic feeding, furnace unloading, intelligent detection, automatic sorting and packaging, and full-process material handling. With a keen global perspective, the company adheres to the development philosophy of revitalizing the enterprise through science and technology and achieving win-win cooperation. Guided by the value concepts that have been continuously cultivated, the company will gradually fulfill the shared responsibilities of individuals, enterprises, society, and the country, realizing the shared prosperity of corporate and social interests. Contact Information Li Xin 13304723535 Wang Zhenxin 18586166986 Long press to scan the QR code and register immediately 2025 SMM (2nd) Rare Earth Industry Forum

Yin Li, Secretary of the Beijing Municipal Committee, conducted research on "serving the construction of the national financial management center and promoting high-quality financial development in the capital" on the morning of May 16, and held a symposium on financial work. Wang Jiang, Deputy Director in charge of routine work of the Central Financial Commission Office, Pan Gongsheng, Governor of the People's Bank of China, Li Yunze, Director of the National Financial Regulatory Administration, Wu Qing, Chairman of the China Securities Regulatory Commission, and Yin Yong, Deputy Secretary of the Beijing Municipal Committee and Mayor, participated respectively. The following are the latest remarks made by Wu Qing, Pan Gongsheng, and Li Yunze at the symposium. Pan Gongsheng: We will continue to promote the mutual reinforcement between building a strong central bank and the national financial management center, and support the improvement of the capital's financial functional layout. Pan Gongsheng pointed out that strengthening the functions of Beijing as the national financial management center is a shared task entrusted by the CPC Central Committee to both Beijing and the financial system. The People's Bank of China actively supports the high-quality economic and financial development of Beijing, strives to create a favorable monetary and financial environment, supports the development of key economic sectors, promotes the steady and healthy development of the capital's financial industry, and optimizes Beijing's financial business environment. Looking ahead to the "15th Five-Year Plan" period, the People's Bank of China will closely focus on the construction of a strong financial power, continue to promote the mutual reinforcement between building a strong central bank and the national financial management center, support the improvement of the capital's financial functional layout, support Beijing in becoming a highland for the development of technology finance, promote Beijing to continue leading the country in the internationalization of the RMB, and continuously enhance the international influence of Beijing as the national financial management center. Li Yunze: Supporting pilot implementation of financial policies and improving the capital's financial service system. Li Yunze pointed out that the National Financial Regulatory Administration will resolutely implement the decisions and arrangements of the CPC Central Committee and the State Council, fully support the strengthening of the functional construction of Beijing as the national financial management center, and better promote the high-quality economic and social development of the capital. We will further strengthen regulatory guidance, clarify the functional positioning of financial institutions, and improve the financial landscape in the capital. We will support the pilot implementation of financial policies and improve the capital's financial service system. We will deepen the construction of the "two zones" in the financial sector and help build a new highland for the capital's financial opening-up to the outside world. We will promote in-depth and practical cooperation between the central and local governments to jointly build a more solid financial defense line for the capital. Wu Qing: Accelerating the construction of the main position of the Beijing Stock Exchange to serve innovative small and medium-sized enterprises and creating a new highland for the reform and opening-up of the capital market. Wu Qing stated that in recent years, Beijing has focused on strengthening the construction of the "four centers," achieving fruitful results in the development of the capital's financial industry. The China Securities Regulatory Commission will closely integrate the promotion of high-quality development of the capital market with better serving the development of the capital, closely integrate the focus on serving the needs of the capital with leveraging the capabilities of the capital market, deepen comprehensive reforms in investment and financing, accelerate the construction of the main position of the Beijing Stock Exchange to serve innovative small and medium-sized enterprises, strengthen the functions of the multi-tiered market, create a new highland for the reform and opening-up of the capital market, jointly advance the resolution of risks in key areas, and better achieve a positive interaction between the capital market and the economic development of the capital.

With the continuous recovery of the global economy and the emergence of new technologies, the demand for non-ferrous metals has surged. Particularly, aluminum, copper, and nickel, which are considered critical metals in the energy transition, will continue to play significant roles in lightweighting, computing power enhancement, and new energy transformation, with broad growth prospects. Meanwhile, niche metals like cobalt and lithium experience fluctuating demand due to technological iterations. It is important to note that geopolitical conflicts and cyclical fluctuations remain risks that miners must face. Currently, top-tier enterprises in the industry have benefited from capacity integration and technological innovation. This also indicates that future competition in the metal industry will not only be about resource acquisition but also about technological iteration and policy adaptability. At the same time, in response to the global urgent need for environmental protection and sustainable development, the non-ferrous metals industry is gradually focusing on green production, improving resource utilization efficiency through technological innovation and industrial upgrading, and contributing more to the sustainable development of the global economy. Emerging technologies are driving a significant increase in the demand for non-ferrous metals. Currently, the rapid development of green transportation, low-altitude economy, artificial intelligence (AI), and other emerging technologies has greatly boosted the demand for non-ferrous metals. Among them, aluminum, with its lightweight characteristics, has become a core material in the fields of new energy vehicles and ship lightweighting, replacing steel. Meanwhile, with the vigorous development of the photovoltaic industry and the transformation and upgrading of the construction industry, the demand for solar panel mounting brackets and construction aluminum extrusions is also rising. According to Guolian Securities, the growth rate of aluminum supply is expected to significantly pull back by 2025, and the national supply-demand gap for aluminum is projected to reach 400,000 mt and 470,000 mt in 2025 and 2026, respectively. This supply-demand gap will gradually push up aluminum prices. Copper plays the role of "new oil" in the emerging computing power era. With the continuous surge in AI computing power demand, the demand for high-speed copper cables has also increased significantly, becoming the "neural network" connecting the digital world. Additionally, nickel, as a key element in the energy transition, is increasingly widely used in the power battery sector, with a significant trend towards high nickel content. Institutions predict that by 2030, the proportion of nickel used in batteries will reach 60%. Despite the significant increase in demand for non-ferrous metals, the supply chains of metals like copper and aluminum are also facing numerous challenges. From a macro perspective, the tariff policies of the Trump administration have led to a series of trade barriers, causing related enterprises to face additional tariffs or fees and increasing market uncertainty. Additionally, geopolitical conflicts, increasingly stringent environmental regulations, and labor issues are also challenges that cannot be ignored, as these factors may cause delays or interruptions in the mining and smelting processes. CITIC Securities research reports mention that in the context of global trade conflicts, the role of policies is becoming increasingly important. With the introduction of a series of tariff policies in the US, such as the cancellation of export tax rebates for aluminum semis, it is expected to promote deep-seated changes in the domestic industry and optimize the capacity of the copper and aluminum processing industries. However, it is worth noting that tariff policies have not changed the global supply-demand relationship but have only increased the cost of entering the US market. Therefore, enterprises need to closely monitor changes in tariff policies and take corresponding measures based on actual conditions. Taking steel and aluminum as examples, the Trump administration has already imposed tariffs on steel and aluminum products from countries like China. However, since China's steel exports have significantly decreased, the impact on China is relatively small. For the aluminum industry, although the US is one of Canada's major export markets, Canada's aluminum capacity has also been affected by tariff policies. However, since US demand has not decreased, enterprises need to find new suppliers or adjust product structures to cope with changes in tariff policies. The way for miners to break through the cycle. With the deepening of global economic integration, many Chinese publicly listed mining firms have actively disclosed their overseas business situations, particularly showing strong momentum in overseas mining acquisitions. However, in the process of globalization, these enterprises face numerous risks and challenges. Political risk is the primary consideration for overseas mining investments. Since mineral resources are mostly concentrated in politically unstable underdeveloped regions such as Central Asia, Africa, and South America, this brings significant uncertainty to mining investments. Additionally, geopolitical risks cannot be ignored. For example, when Chinese enterprises control mineral resources in South America or other regions through Canada, they may be forced to withdraw due to geopolitical changes, resulting in the loss of previously invested resources. The cyclical nature of mining development is also an important factor that enterprises must face. During the growth phase of mining, enterprises can seize market opportunities and achieve substantial profits by buying low and selling high; but if the market is at a high point, a downturn may come at any time, and enterprises need to have strong risk resistance to cope with market fluctuations. The risks inherent in the metal market itself also cannot be ignored, mainly including market risk and price risk. Market risk stems from the uncertainty of demand, and enterprises may face a situation of overcapacity and insufficient market demand; price risk is closely related to the volatility of metal prices, as metal prices are influenced by various factors such as the futures market, and daily price fluctuations can pose significant challenges to enterprises. To effectively cope with these risks, mining enterprises need to adopt a series of strategies. In terms of price risk management, enterprises can fully utilize tools like the futures market for hedging and locking in future sales prices, thereby reducing the impact of price fluctuations on business operations. Meanwhile, in financial management, mining enterprises need to maintain financial stability and ensure diversified financing channels. During price decline cycles, enterprises' cash flow may be severely impacted, so maintaining sufficient liquidity is crucial. Large mining enterprises usually reserve committed bank credit lines to cope with cyclical changes and ensure access to funds at critical moments. Additionally, when dealing with price decline cycles, mining enterprises tend to broaden financing channels rather than supplementing income by diversifying business sectors like other industries. Because the core business of mining enterprises is directly related to metal prices, during price declines, other business sectors often cannot compensate for the losses of the core business. Therefore, mining enterprises need to flexibly adjust strategies according to their characteristics to navigate cycles and achieve sustainable development. Financial institutions assist mining enterprises in sustainable development. In the development of the aluminum industry, the funding gap has always been a key factor constraining industry development. Facing this challenge, close cooperation among the government, industry, and financial institutions is particularly important. As the largest bank in Singapore and Southeast Asia, DBS Bank has accumulated rich experience in the metals and mining sector and provides comprehensive financial services to related enterprises with its full range of financial products. Specifically, DBS Bank's financial services cover areas such as listing, bond issuance, project financing, trade financing, foreign exchange, and commodity futures hedging, forming a comprehensive service system. In the aluminum sector, DBS Bank has provided professional financial advisory and project financing services for several important projects. For example, the first alumina project invested by Chinese enterprises in Indonesia and the first HPAL nickel smelting project jointly invested by Chinese enterprises and Indonesian partners have both benefited from DBS Bank's deep expertise and rich experience in this industry segment. Notably, the first high-pressure acid leaching (HPAL) smelter jointly established by Chinese enterprises in Indonesia—PT Halmahera Persada Lygend. DBS Bank launched a $625 million syndicated project financing for this project. As the lead arranger of the syndicate, DBS Bank participated in the project early on, designing a feasible financing structure to appropriately address the challenges of the project development phase and the risks of benchmark price fluctuations—both inherent characteristics of smelting projects. This syndicated financing not only helped the project as the world's first successful and scaled HPAL project to land, injecting strong momentum into Indonesia's nickel industry, but also provided guarantees for Chinese enterprises to "go global" and master key strategic resources. Additionally, DBS Bank plays a pivotal role in promoting investment cooperation in non-ferrous metals between China and ASEAN countries. China and ASEAN are not only important investment partners but also close trading partners. As Asia's financial center and trade hub, Singapore can effectively provide multifaceted support and services for Chinese enterprises investing in Southeast Asia's metals and mining sectors. Leveraging its headquarters advantage in Singapore and extensive business network in Southeast Asia, DBS Bank continues to provide comprehensive financial services to meet the diversified needs of clients in the metals and mining sectors, further deepening cooperation and exchanges between China and ASEAN countries in the field of non-ferrous metals. Looking ahead, DBS Bank will continue to leverage its professional advantages to provide customized financial service solutions for mining enterprises, helping them navigate cycles and achieve sustainable development. Zhang Yongming, Managing Director and Global Head of Metals and Mining at DBS Bank.

In the upcoming year of 2025, we anticipate that the global economy will face a series of complex and volatile challenges. With the conclusion of the US presidential election, the uncertainty surrounding global trade policies is expected to further increase, presenting new issues for international trade cooperation. In the realm of geopolitics, ongoing conflicts and tensions show no significant signs of easing, posing threats not only to global security but also significantly impacting resource allocation and industrial layout. Against this macro backdrop, industrial relocation and supply chain restructuring have become critical topics that we must closely monitor. At the industrial level, the trend of protectionism in mineral resources is on the rise, directly affecting the stability of global copper concentrate TCs. With the rapid expansion of global smelting capacity, the profit margins of copper smelters are further compressed, and the challenges faced by the industry are becoming increasingly severe. In the field of secondary copper raw materials, the advancement of Environmental, Social, and Governance (ESG) standards and the "Dual Carbon" goals have significantly increased market attention on secondary copper. However, the "Reverse Invoice" policy implemented in 2024 and the "Fair Competition Regulations" have had a profound impact on the secondary copper industry. Looking ahead to 2025, the changes in the landscape of the secondary copper industry will have a critical impact on the entire copper industry chain. Additionally, with the cancellation of tax subsidies and other incentive measures, the space for copper cathode trade is expected to further narrow. We anticipate that the procurement ratio of copper processing materials between traders and smelters will show a more pronounced differentiation. In this context, the "CCIE 2025 SMM (20th) Copper Industry Conference and Copper Industry Expo," meticulously prepared by SMM, will be grandly held in Nanchang, Jiangxi, from April 22 to 25, 2025. Western Mining Co., Ltd. will attend this conference in full force. We will keep pace with the times, aim for our goals, strive diligently, and move forward with courage and determination! Click the registration form to sign up immediately, and we look forward to meeting you at the conference. Western Mining Co., Ltd. was established in 2000, with its headquarters located in Xining, Qinghai Province. It was transformed from the Xitieshan Mining Bureau of the China Nonferrous Metals Industry Corporation. In 2007, its subsidiary, Western Mining Co., Ltd., was listed on the Shanghai Stock Exchange. After years of development, the company has expanded from a single lead-zinc resource development enterprise to a large enterprise group integrating six major industries: mining and smelting, salt lake chemical industry, cultural tourism, construction and real estate, financial trade, and technology information. It has over 40 subsidiaries in 11 provinces and municipalities across the country. The company is developing and operating ten large mines, including the Yulong Copper Mine in Tibet and the Xitieshan Lead-Zinc Mine in Qinghai. It employs the world's most advanced smelting process technologies, forming a smelting system with capacities of 300,000 mt of copper, 200,000 mt of lead, and 150,000 mt of zinc. The 100,000 mt anhydrous hydrogen fluoride project fills the gap in the refrigerant industry in the Qinghai-Tibet region. The company has built the first green and environmentally friendly vanadium extraction line from stone coal in China and possesses mature international advanced technologies in magnesium resource development. It currently has a production capacity of 150,000 mt of magnesium hydroxide and its series products, focusing on building a 1 million mt edible salt production base. "Chaka Salt" has been deployed in the national market and is moving towards the global market. The company actively develops the tourism industry, successfully creating the internationally renowned tourism brand "Chaka Salt Lake—Mirror of the Sky" and constructing and operating the Yiwu Poplar Scenic Area in Xinjiang. The Beijing Qinghai Financial Building, Sanya Qinghai Building, and Yulong Hotel in Tibet have become new business cards and windows for Qinghai to showcase its image to the outside world. The company has introduced green building industrialization technology, building the largest steel structure prefabricated green building base in Qinghai Province. Additionally, it owns specialized service companies in finance, technology research, information technology, design consulting, tender and bid, and property management, constructing a diversified industrial landscape. Development History In 1725, during the third year of the Yongzheng reign of the Qing Dynasty (1725 AD), military convicts, while reclaiming wasteland, were attracted by the name "Hala Mountain" and came to Xitieshan, engaging in open-pit mining using traditional methods. In 1861, during the eleventh year of the Xianfeng reign (1861 AD), a lead bureau was established here, and its lead mine ranked first among the lead bureaus at that time. In 1957, the Xitieshan Mine was established. In April 1978, the construction of the Xitieshan Mine was listed as a key project in the national "Sixth Five-Year Plan." In 1982, the people of Xitieshan built a large mine with an annual ore processing capacity of 1 million mt in just five years and eight months. In August, it was officially decided to upgrade the "Qinghai Xitieshan Lead-Zinc Mine Preparation Office" to a prefecture-level enterprise, named the Xitieshan Mining Bureau. On May 18, 2000, the Xitieshan Mining Bureau was officially restructured into "Western Mining Co., Ltd." On July 18, 2006, Western Mining Co., Ltd. was renamed "Western Mining Group Co., Ltd.," with a registered capital of 1.6 billion yuan. On July 12, 2007, Western Mining Co., Ltd. was successfully listed on the Shanghai Stock Exchange. In 2011, Western Mining Group Co., Ltd. continued to reform and extend its industries, gradually transforming into a group company. Based on the development of non-ferrous metal resources, it expanded into salt lake resource development, real estate development, financial information, and other fields, establishing the first finance company in Qinghai Province, elevating the group's financial management and capital operations to a new level. In April and July 2015, the new leadership team of the company took office. In less than a year, Western Mining Group Co., Ltd. achieved a major turnaround, reversing the difficult situation and turning losses into profits, with the enterprise showing an upward development trend. Since the "13th Five-Year Plan," Western Mining Group Co., Ltd. has unswervingly implemented the new development concepts, established the development strategy of "strengthening the mining main business, refining the smelting industry, optimizing salt lake resources, and solidifying new industries." The company is striding forward towards a modern enterprise with industrial synergy, a sound system, and distinctive features. In 2023, the company drew strength from General Secretary Xi Jinping's important speeches and thematic education. The company's operating profit exceeded 5 billion yuan for the first time, and multiple operating indicators refreshed the best historical levels. The company's image is getting better, and the high-quality development of the company has entered an irreversible historical process. In the future, aiming to build a "provincial leader, domestic first-class, internationally renowned" enterprise group, focusing on the development of "mining, salt lake, and ecological" resources, the company will accelerate the construction of a domestic first-class modern enterprise and promote the green and high-quality development of the enterprise. By the end of the "14th Five-Year Plan," the company's operating income is expected to exceed 70 billion yuan, annual operating profit to exceed 3 billion yuan, and total assets to exceed 100 billion yuan, pushing Western Mining Group to the regional international first-class level in the industry, becoming a large enterprise group with significant domestic influence and a model of high-quality development. Corporate Culture Corporate Mission: Mining for the Nation, Revitalizing the National Economy Core Values: Wisdom Creates Value, Responsibility Achieves the Future Corporate Purpose: Belief, Persistence, Adherence Corporate Spirit: Faith, Endurance, Rigor, Innovation Corporate Ethos: Speak the Truth, Do Practical Work, Achieve Real Results Corporate Vision: To Become a Company Satisfied by Shareholders, Happy Employees, Respected by Society, and with Significant Domestic Influence Goal: To Build a Provincial Leader, Domestic First-Class, Internationally Renowned Enterprise Group Contact Information Wang Qing 18697183320 SMM Conference Contact Ren Jie 18655033505 renjie@smm.cn

[SMM Steel Market Morning Brief: NDRC Expects Energy Intensity to Drop by Over 3% in 2024] The National Development and Reform Commission (NDRC) stated that in 2024, significant progress will be made in energy conservation and carbon reduction, with energy intensity expected to drop by over 3% for the year, exceeding the annual target. Regarding the program of large-scale equipment upgrades and consumer goods trade-ins, in the first 11 months of 2024, national investment in equipment and tools purchases grew by 15.8% YoY, contributing 65.3% to total investment growth. In trade-in activities, over 60% of consumers chose to purchase NEVs, driving the domestic market penetration rate of passenger NEVs to exceed 50% for six consecutive months.

On August 6, 2024, Alcoa Corporation announced a transition in its Investor Relations leadership, appointing Louis Langlois, Senior Vice President of Treasury and Capital Markets, effective September 1, 2024.

Layout of lithium hexafluorophosphate and electrolyte from Tianci Materials: Overseas Market will be the focus of expansion Tianci Materials stated in an institutional research on January 19 that for lithium hexafluorophosphate and electrolyte, the company will focus on expanding production capacity in overseas markets, and there will be no large-scale capacity expansion or new projects in the domestic market in the coming years. At the same time, the company will maintain a steady financial management strategy by controlling the pace of capital expenditure. In addition, the company's internal research and development will continue to focus on new electrolytes/electrolytes and their corresponding solutions, as well as various new energy materials with synergistic effects with the company's industry. Some materials have made significant progress in the laboratory and have corresponding patent layouts. The company will announce them when appropriate opportunities arise. Note: Tianci Materials is also an important producer of iron phosphate, with an annual production capacity of approximately 350,000 tons.

Zhuhai Guanyu announced on the evening of December 25th that Mr. Liu Mingzhuo has resigned from the position of Deputy General Manager and Financial Officer due to personal reasons. In order to ensure the normal operation of the company's financial management work, Mr. Xu Yanming (male, 57 years old, master's degree), Chairman and General Manager of the company, has been designated to temporarily assume the responsibilities of the Financial Officer until a new Financial Officer is appointed. The company will expedite the process of appointing a new Financial Officer in accordance with relevant regulations.