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In the context of global economic recovery, the silver industry chain has welcomed new development opportunities. As one of the important precious metals, silver not only plays a role in value preservation and investment in the financial market but also, due to its excellent conductivity, thermal conductivity, and antibacterial properties, is widely used in various fields such as the electronics industry, healthcare, solar cells, and automobile manufacturing. To further promote the sustainable development of the silver industry and strengthen communication and cooperation among industries, it is planned to hold the 2025SMM (6th) Silver Industry Chain Innovation Conference in May 2025. In recent years, with the growth in global demand for renewable energy and high-tech products, the industrial application demand for silver has significantly increased. At the same time, the uncertainties in the global economy and changes in monetary policy have also prompted more investors to pay attention to the safe-haven attributes of silver. As an important commodity market globally, the attention to the silver industry chain in Asia, North America, and Europe has gradually increased, and the changes in local policies, technological innovation, and market demand have had a profound impact on the entire industry chain. At this conference, Hunan Zhengming Environmental Protection Co., Ltd. will attend in full regalia, joining peers from upstream and downstream of the silver industry, focusing on the mining, processing, trading, investment, and application of silver, and comprehensively discussing the challenges faced by the industry and future development opportunities. Click the registration form to sign up immediately, join us in Ningbo to co-create a silvery future, gain insights into market trends, and collaborate on innovative chains. Hunan Zhengming Environmental Protection Co., Ltd. (stock code: 872655, listed on the NEEQ), is a high-tech enterprise specializing in exhaust gas treatment and wastewater treatment, dedicated to providing first-class comprehensive services including general contracting, design, equipment manufacturing, installation, commissioning, and operation management for flue gas dust removal, desulfurization, denitrification, VOCs organic exhaust gas treatment, and wastewater treatment for various kilns in industries such as non-ferrous smelting, steel, thermal power, building materials, chemicals, papermaking, textile printing and dyeing, food, and pharmaceuticals. The company holds Grade B design qualifications for air pollution control and water pollution control, and Grade A construction qualifications for environmental protection projects; it was rated as a high-tech enterprise in 2016; it has passed ISO quality management system certification, environmental management system certification, and occupational health and safety management system certification; the company has been rated as an AAA credit enterprise; and in 2017, it was named one of China's top 30 atmospheric governance environmental protection enterprises. The company owns over forty patent technologies, including seven invention patents. Based on its proprietary core technologies and fully introducing and absorbing advanced domestic and overseas technologies, the company now has more than one hundred successful cases in desulfurization, denitrification, dust removal, flue gas whitening elimination, and wastewater treatment projects, and has developed into a key enterprise in China's environmental protection field. The company boasts strong technical capabilities, having developed various technologies for desulfurization, denitrification, dust removal, flue gas whitening elimination, wastewater treatment, and VOCs organic exhaust gas treatment. The multiple ultra-low emission technologies innovatively developed by the company have become mainstream in the market, such as single-tower PH dual-zone dual-circulation desulfurization technology, semi-dry desulfurization technology, dry desulfurization technology, F=ma centrifugal tube bundle high-efficiency dust and mist removal technology, flue gas whitening GGH and MGGH, and flue gas condensation technology, multi-directional injection SNCR + SCR high-efficiency denitrification technology, high-efficiency wet electrostatic precipitator technology, and high-concentration wastewater treatment technology, which have been widely applied. These technologies are characterized by high efficiency, stable operation, relatively small investment, and low operating costs, reaching a leading level domestically. Zhengming Environmental Protection always upholds the corporate spirit of "upright virtue, sincerity, technological innovation, and pursuit of excellence," rectifying moral conduct, controlling pollution, protecting the environment, benefiting people's livelihood, being honest and trustworthy, adhering to the service principle of putting users first, creating high-quality projects with top-notch technology, and ensuring user satisfaction with wholehearted service. The company consistently adheres to the mission of "controlling pollution, protecting the environment, sustainable development, and benefiting humanity," restoring a clean land and a blue sky, and together with many partners, creating a better tomorrow. Contact Information Address: No. 128 Jinhai Road, Yuhua District, Changsha City, Hunan Province Website: www.hnzmhb.cn Email: hnzmhj@163.com Phone: 0731-89729827 13723892298 Scan the QR code to register immediately 2025SMM (6th) Silver Industry Chain Innovation Conference

In March 2025, lead prices rose significantly due to improved supply-demand dynamics and macroeconomic factors. Early-month concerns over US tariffs and CPI data eased, while China’s pro-consumption policies and declining inventories supported prices. Shanghai lead prices hovered around 17,250 yuan/ton. High raw material costs pressured battery producers, and cautious dealer purchasing ahead of the off-season limited upside. By late March, LME inventory increases weighed on prices. For April, supply-side constraints and high scrap battery costs are expected to keep lead prices volatile.

【SMM Analysis: Behind the Surge in Lead Prices in March 2025: Multi-dimensional Impacts of Supply-Demand Tug-of-War, Policy Benefits, and Environmental Protection-Driven Production Restrictions, and Outlook for April】SMM, March 26: Driven by improved supply-demand dynamics and a favorable macroeconomic environment, the center of lead prices in March 2025 significantly rose compared to February. In early March, the news of the US imposing additional tariffs continued to ferment, increasing market concerns and suppressing the performance of non-ferrous metal futures. After the conclusion of China's Two Sessions, a series of policies to boost consumption were proposed, creating a favorable macro front. However, the imbalance between lead ingot supply increments and raw material supply persisted, leading to a stalemate in the SHFE lead futures market, with the price center hovering around 17,250 yuan/mt. In the spot market, end-use consumption in the lead-acid battery sector remained largely unchanged, with major enterprises maintaining stable production and a weekly comprehensive operating rate of 70-80%. As the traditional off-season approaches, dealers have adopted a cautious approach to procurement, particularly e-bike battery dealers, with most actively maintaining lower inventory levels. Some producers reported a slowdown in new orders, and if battery inventories rise again, production cuts or holidays are being considered for late March.

The environmental impact assessment document approval information for the high-purity hydrogen production line expansion project of Huizhou Huadatong Gas Manufacturing Co., Ltd. is announced as follows: I. Basic Project Information Project Name : High-Purity Hydrogen Production Line Expansion Project of Huizhou Huadatong Gas Manufacturing Co., Ltd. Construction Location : No. 1, Aotou Youcheng West Road, Daya Bay Economic and Technological Development Zone, Huizhou, Guangdong Construction Unit : Huizhou Huadatong Gas Manufacturing Co., Ltd. Environmental Assessment Unit : Guangdong Debao Environmental Technology Research Co., Ltd. Project Nature : Expansion Project Investment: 162.05 million yuan II. Project Overview and Announcement Period Project Overview: The project primarily utilizes hydrogen from the POX unit of CNOOC Huizhou Petrochemical Co., Ltd. to produce high-purity hydrogen. The construction includes the addition of new high-purity hydrogen production equipment, supporting power distribution rooms, PSA (Pressure Swing Adsorption) purification areas, and nitrogen generation stations. The project adds a high-purity hydrogen production capacity of 18,800 Nm³/h, increasing the total plant capacity from 5,000 Nm³/h to 23,800 Nm³/h. Additionally, a new raw material gas pipeline with a length of 2.5 km, a diameter of DN300, and a delivery pressure of 2.0 MPa is constructed along the existing pipe rack. Announcement Period : March 19, 2025 to March 25, 2025 V. Environmental Protection Measures Water Pollution Prevention : Optimize the water supply and drainage systems according to the principles of "separating clean and dirty water, separating rainwater and sewage, and recycling water," and improve the water recycling rate. Production wastewater is pre-treated to meet relevant standards and then discharged after being treated by the Daya Bay Petrochemical Zone Wastewater Treatment Plant. Air Pollution Prevention : Implement effective collection and treatment measures, strengthen process management, and reduce unorganized emissions of various waste gases. The unorganized non-methane total hydrocarbons within the plant boundary meet the relevant standard limits. Noise Pollution Prevention : Optimize the plant layout, select low-noise equipment, and take effective sound insulation and noise reduction measures to ensure that the plant boundary noise complies with the Class 3 standard of the "Emission Standard for Industrial Enterprises Noise at Boundary" (GB12348-2008). Solid Waste Treatment: Strictly comply with national and local regulations on solid waste management, establish and improve a full-process pollution prevention responsibility system for solid waste, maintain management records, and entrust hazardous waste to qualified units for treatment. Environmental Risk Prevention : Revise the emergency response plan for sudden environmental events, conduct environmental safety hazard investigations and management according to relevant regulations, and coordinate with regional emergency response plans.

【SMM Lead Futures Review】During the day, the most-traded SHFE lead 2505 contract opened at 17,500 yuan/mt, fluctuated around the 17,530 yuan/mt level, and finally closed at 17,560 yuan/mt, down 0.11%, with an open interest of 61,032.

LME copper opened at 10,030.5 yuan/mt overnight, reaching a high of 10,044.5 yuan/mt and a low of 9,930 yuan/mt, closing at 9,934.5 yuan/mt.

SMM Lead Morning Meeting Summary: Supply Affected by Environmental Protection, Maintenance, and Imports; Lead Prices May Hover at Highs China's Ministry of Finance: In 2025, fiscal policy will be more proactive, with an increase in the fiscal deficit ratio and a larger scale of government bond issuance. Recently, lead smelters in Henan have entered maintenance, coupled with other planned maintenance, leading to an expected decrease in primary lead supply on a MoM basis in April...

Hosted by Shanghai Metals Market (SMM), CLNB 2025 (10th) New Energy Industry Expo will be held from April 16 to 18, 2025 at Suzhou International Expo Center . During the exhibition, 1 main forum and 11 sub-forums will be held, with government leaders, academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering, domestic and overseas scientists, foreign guests from dozens of countries, and leading entrepreneurs from various industries attending the event! Witness the gathering of industry leaders, discuss core technologies, listen to experts' insights, interpret market trends, and gather in Suzhou to focus on key issues, inviting you to jointly analyze industry development. This exhibition covers 6 major exhibition areas , with 1,300+ domestic and overseas exhibiting and participating companies showcasing the entire industry chain of batteries, including power batteries, consumer batteries, ESS, raw materials, materials, equipment, battery recycling, as well as NEVs, power tools, electric drives, and low-altitude economy in the power exhibition area, providing you with a one-stop exhibition experience. Click to fill out the registration form and register immediately to join industry elites in discussing the future development of the new energy industry. We look forward to your presence and to opening this feast of the new energy industry with SMM. At this New Energy Industry Expo, Anhui Sanye Heavy Industry Co., Ltd. will make a grand appearance, collaborating with peers in the new energy industry to share development opportunities and jointly outline a bright future for new energy. About Sanye Heavy Industry Anhui Sanye Heavy Industry Co., Ltd. was established in March 2018 in Langya District, Chuzhou City. Since its inception, the company has relied on the absorption and digestion of European and American technologies, leveraging its own technical and talent advantages, and has been committed to the research and development of products in the new energy field. Its main products include the EWF series wet electromagnetic demagnetizers, EDF series dry electromagnetic demagnetizers, liquid pipeline permanent magnet iron removers, various standard and customized permanent magnet demagnetization devices, suspended permanent magnet and electromagnetic iron removers, and mine magnetic separators. The company has passed the ISO9001:2015 & GB/T19001-2016 quality management system certification and has applied for multiple patents. Product Introduction 01 Dry Demagnetizer 02 Wet Demagnetizer Product Highlights 1: Constant current design, constant magnetic field; the control cabinet can be intelligently remotely operated, assisting operators in debugging. 2: Unique design of the medium net, adjustable and selectable based on liquidity. 3: Efficient cooling structure, ensuring the safety and lifespan of the coil. 4: Combined design of springs and vibration motors, with added air hammers to enhance liquidity. 5: Overall design of the diverter valve flap reduces material accumulation and avoids detachment of combined parts. 6: Customized energy-saving design and electromagnetic simulation capabilities. 7: Dual insurance in production control and quality, with aesthetically pleasing and leak-free welding. Product Applications Our products are mainly used in pollution control, material transfer, separation, purification, enrichment, resource recovery, separation of iron-containing media in materials to improve material purity, removal of ferromagnetic impurities from moving materials on material transport lines to achieve material purification, improve material quality, and protect downstream equipment, filter iron, enrich ore, and recover industrial or civilian waste. They are widely used in the purification processes of new energy positive and negative electrode materials, insulating materials, ceramics, and quartz. Additionally, they can be selected for use in various industries and industrial fields such as food, chemicals, waste classification, water pollution treatment, power generation, and port transportation. [CLNB 2025—Hot Registration in Progress] CLNB 2025 (10th) China International New Energy Industry Expo April 16-18, 2025 Suzhou International Expo Center Contact Us

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 layouts. Against this macro backdrop, industrial relocation and supply chain restructuring have become critical topics that we must closely monitor. At the industrial level, the rising trend of protectionism in mineral resources is directly affecting the stability of global copper concentrate TCs. With the rapid expansion of global smelting capacity, the profit margins of copper smelters are being 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 invoicing" 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 22-25, 2025. Hunan Zhengming Environmental Protection Co., Ltd. will make a splendid appearance at this conference. We will keep pace with the times, aim for our goals, strive diligently, and move forward with courage! Click the registration form to sign up immediately, and we look forward to meeting you at the conference. Booth number: D23. "Integrity and Virtue, Sincerity and Trust" - Hunan Zhengming Environmental Protection Co., Ltd. (Stock Code: 872655, listed on the New Third Board) is a high-tech enterprise specializing in waste gas and wastewater treatment. We are committed to providing first-class comprehensive services for various kiln flue gas dust removal, desulfurization, denitrification, VOCs organic waste gas treatment, and wastewater treatment in industries such as non-ferrous smelting, steel, thermal power, building materials, chemicals, and papermaking, including general contracting, design, equipment manufacturing, installation, commissioning, and operation management. The company possesses Class B design qualifications for air pollution prevention and water pollution prevention, as well as a Class I professional contracting qualification for environmental protection. It was recognized as a high-tech enterprise in 2016 and has passed ISO quality management system certification, environmental management system certification, and occupational health and safety management system certification. The company has been rated as an AAA credit enterprise and was ranked among the top 30 air pollution control environmental protection enterprises in China in 2017. The company holds over 40 patented technologies, including seven invention patents. Based on its core proprietary technologies and by fully introducing and absorbing advanced domestic and overseas technologies, the company has successfully completed over 100 projects in desulfurization, denitrification, dust removal, flue gas whitening, and wastewater treatment, and has developed into a high-tech key enterprise in the environmental protection field in China. The company boasts strong technical capabilities and has developed various technologies for desulfurization, denitrification, dust removal, flue gas whitening, wastewater treatment, and VOCs organic waste gas treatment. The company's innovative ultra-low emission technologies have become mainstream in the market, such as the single-tower PH dual-zone dual-circulation desulfurization technology (particularly suitable for ultra-high concentration sulfur dioxide desulfurization projects), the F=ma centrifugal tube bundle high-efficiency dust removal and mist elimination technology, high-efficiency wet electrostatic precipitator technology, multi-directional injection SNCR+SCR high-efficiency denitrification technology, and high-concentration wastewater treatment technology. These technologies have been widely applied and are characterized by high efficiency, stable operation, relatively small investment, and low operating costs, reaching the leading level in China. Zhengming Environmental Protection always promotes the corporate essence of "Integrity and Virtue, Sincerity and Trust, Technological Innovation, and Pursuit of Excellence." We uphold integrity, manage pollution, protect the environment, benefit the people, and adhere to the principle of customer-first service. With first-class technology, we create high-quality projects and provide wholehearted service to ensure customer satisfaction. The company consistently adheres to the purpose of "Managing Pollution, Protecting the Environment, Sustainable Development, and Benefiting Humanity," striving to return a piece of pure land to the earth and a clear sky to the heavens, and working with numerous partners to create a better tomorrow. Hunan Zhengming Environmental Protection Co., Ltd. (Stock Code: 872655) Address: No. 128, Jinhai Road, Yuhua District, Changsha City, Hunan Province Website: www.hnzmhb.cn Email: hnzmhj@163.com Phone: 0731-89729827 13723892298 SMM Conference Contact: Liu Guangtong 15588538837 liuguangtong@smm.cn