The 2026 SMM (21st) Lead & Zinc Conference and Industry Expo opened grandly at Howard Johnson Agile Plaza in Chengdu, Sichuan during March 25–27 2026. Organized by SMM, the event brought together global enterprises, professional experts and industry peers from across the entire lead and zinc supply chain. Participants focused on industry hot topics, analyzed market trends and explored development strategies, establishing a highly efficient platform for communication and collaboration to support high-quality growth of the sector. To further strengthen the overseas delegation’s comprehensive understanding of China’s lead and zinc industrial chain and build closer connections between international industry peers and key producers in China, SMM led a high-level overseas delegation on a multi-day industrial tour starting on the afternoon of March 27. The delegation included representatives from global giants, such as Nyrstar, a top European lead and zinc smelting firm, Nexa Resources, a South American giant in lead-zinc mining and smelting, and Befesa, a pioneer in zinc recycling. During the tour, the delegation visited 8 Chinese enterprises. including: COSCO Shipping Sichuan Chengtun Zinc & Germanium Technology Sichuan Kunshun Zinc Industry Yunnan Luoping Zinc & Electricity Hongzhou Hongqian Nonferrous Chemical Yunnan Zhenxing Industrial Group Mengzi Mining & Metallurgy Danxia Smelter of Shenzhen Zhongjin Lingnan Nonfemet The delegation members went deep into production sites, held in-depth discussions and exchanges, and gained a full picture of China’s lead and zinc industry in terms of production operations, technological innovation, capacity scale and market layout, greatly enhancing their insight into and understanding of the entire industrial chain. SMM has systematically compiled detailed information of all enterprises that were visited during this tour, with details below: COSCO Shipping On the afternoon of March 27, the delegation visited COSCO Shipping for an exchange, where they received a warm welcome from the company's leadership. Both sides engaged in discussions on topics such as equipment transportation and technological upgrades. Sichuan COSCO Shipping Logistics Supply Chain Management Co., Ltd. is a wholly-owned subsidiary of COSCO Shipping Logistics Supply Chain Co., Ltd., registered and established in Chengdu, Sichuan Province, with an investment of 30 million yuan. COSCO Shipping Logistics Supply Chain Co., Ltd. is affiliated with China COSCO Shipping Corporation Limited and serves as a core member of the "shipping, ports, and logistics" segment of COSCO Shipping Group, as well as an important component of its global digital supply chain system. The company operates warehouse space exceeding 6 million m², including 19 futures delivery warehouses. China COSCO Shipping Corporation Limited is a globally leading shipping enterprise group, with a combined fleet capacity of 130 million DWT across 1,535 vessels, ranking first in the world. Sichuan COSCO Shipping Logistics Supply Chain Management Co., Ltd. holds business qualifications and an operational scope covering multiple transportation modes including sea, land, air, and rail, providing comprehensive logistics services spanning both international and Chinese markets. Since entering the non-ferrous metals delivery warehouse business in 2016, the company has adhered to the principle of "client-centered and market-oriented," continuously enhancing its service capabilities and achieving steady business growth. Currently, at key logistics periods such as Shanghai Baoshan, Shanghai Yangshan, and Yixing in Jiangsu, the company successfully operates delivery warehouses designated by the Shanghai Futures Exchange for copper, nickel, zinc, and other products. It has become one of the three major non-ferrous metals warehouses of SHFE and was honored with the title of "Top Ten Designated Non-Ferrous Metals Delivery Warehouses" by the Shanghai Futures Exchange for two consecutive years. Sichuan Chengtun Zinc & Germanium Technology Co., Ltd. On March 28, the delegation visited Sichuan Chengtun Zinc & Germanium Technology Co., Ltd. (Shimian City). Both sides engaged in in-depth exchanges on the development of the zinc smelting industry, with a focus on thorough discussions regarding product processing, production techniques, capacity scale, market trends, and the current challenges facing the industry. Sichuan Chengtun Zinc & Germanium Technology Co., Ltd. was established on December 6, 2015, with a registered capital of 1.6 billion yuan. The company has an annual capacity of 300,000 mt of electrolytic zinc, 150,000 mt of sulphuric acid, 400,000 mt of electrolytic zinc waste residue processing, and 40 mt of high-purity germanium dioxide. On January 16, 2019, the company was approved by the China Securities Regulatory Commission and merged into the publicly listed firm Chengtun Mining Group Co., Ltd. The company's main business includes smelting and R&D of zinc-germanium series products, as well as comprehensive recovery of multiple metals. It has formed a complete industry chain from zinc concentrates entering the plant to finished products leaving the plant. Its production lines include zinc calcine, electrolytic zinc, electrolytic zinc waste residue processing, and comprehensive recovery of rare and precious metals. Sichuan Kunshun Zinc Industry Co., Ltd. (Shimian City) On March 28, the delegation headed to Sichuan Kunshun Zinc Industry Co., Ltd. (Shimian City) for a visit and exchange, where they received a warm reception from the enterprise. Both parties held in-depth discussions and exchanges on zinc smelting, covering topics such as production costs, production and market landscape, raw material procurement and processing, industry chain competitive advantages, and distinctive process technologies. Sichuan Kunshun Zinc Industry Co., Ltd. is a specialized and green environmental protection enterprise jointly invested and established by Sichuan Metallurgical Holding Group Co., Ltd. and Shimian Dongshun Zinc Industry Co., Ltd. to implement the national green production philosophy, actively develop the circular economy, and promote the comprehensive utilization of solid waste resources. It integrates solid waste treatment, recycling, and resource regeneration. The company primarily uses high-tech methods to carry out clean utilization and harmless treatment of heavy metal-containing waste generated by industries such as metallurgy and chemicals, eliminating the environmental impact of heavy metal solid waste at the source. The company was established in 2021 and is located in Zhuma Industrial Park, Shimian County, Ya'an City, Sichuan Province, covering an area of 65 mu with a total investment of 180 million yuan. The company has built a 3.5m × 50m Waelz rotary kiln production line, equipped with advanced and well-established low-grade zinc oxide production technology, achieving a resource recovery utilization rate of over 95% and effectively managing waste gas, noise, solid waste, and groundwater risks. It is also equipped with supporting facilities including desulphurization, denitrification, and flue gas defogging towers, as well as a wastewater treatment station, raw material warehouse, raw material pre-washing workshop, water slag processing workshop, biomass semi-gasification furnace, zinc crystallized salt workshop, production safety and environmental protection center, and laboratory for detection and testing. The company holds qualifications for treating hazardous waste categories including HW12, HW17, HW23, HW48, and HW49, with an annual capacity to process 100,000 mt of zinc-containing waste. Its main products include low-grade zinc oxide and zinc crystallized salt. The company has always upheld the green and environmentally friendly development philosophy, adhering to the fundamentals of "being responsible for the environment, for clients, and for employees," guided by technological innovation, and targeting the "reduction, recycling, and detoxification" of solid waste pollution prevention and control. The company is committed to building a modern "solid waste" management and disposal service provider, actively carrying out emergency environmental protection disposal, proactively assuming social service functions, and making positive contributions to promoting the circular economy development in Sichuan and strengthening the ecological civilization construction of lucid waters and lush mountains! Yunnan Luoping Zinc & Electricity Co., Ltd. (Qujing City) On March 30, the delegation visited Yunnan Luoping Zinc & Electricity Co., Ltd. (Qujing City) for exchanges. During the meeting, both sides conducted in-depth discussions on key topics including magnesium removal process optimization, production management organization, and raw material substitution plans, and put forward constructive suggestions on improving the plant environment. Yunnan Luoping Zinc & Electricity Co., Ltd. was established to fully leverage Luoping's local hydropower and lead-zinc mineral resource advantages. In accordance with the "ore, electricity, and smelting integration" development strategy proposed by the Luoping County Party Committee and County Government, and the overall requirements of the Municipal Party Committee and Municipal Government for the reform of industrial enterprises across the city, the company was registered and established at the Yunnan Provincial Administration for Industry and Commerce on December 21, 2000. It was listed on the Shenzhen Stock Exchange A-share market in 2007 and is a state-controlled enterprise under Luoping County. The company's assets are an optimized combination of three components: hydropower, lead-zinc mines, and zinc smelting. In terms of company assets, they are primarily composed of three advantageous resources of Luoping: mineral, hydropower, and zinc smelting. These mainly include six production units: Luoping County Fule Lead-Zinc Mine with an annual processing capacity of 100,000 mt of raw ore, Lazhuang Power Plant with annual power generation of 250 million kWh (installed capacity of 60,000 kW), a zinc smelter with an annual output of 120,000 mt of electrolytic zinc, a zinc powder plant with an annual output of 12,000 mt of ultra-fine zinc powder, a comprehensive utilization plant with an annual processing capacity of 129,500 mt of zinc slag, and a sulphuric acid plant with an annual output of 140,000 mt of sulphuric acid, achieving a total annual industrial output value exceeding 2 billion yuan. The company has six wholly-owned subsidiaries. The company's main businesses include hydropower generation, mining of lead, zinc, and other non-ferrous metals, as well as the production and sales of zinc smelting and its extended products. It is currently the only publicly listed firm in China's zinc smelting industry that integrates mining, power generation, chemical processing, and smelting. Its products include zinc sulphide concentrates, lead concentrates, zinc ingots, industrial sulphuric acid, ultra-fine zinc powder, cadmium, germanium concentrates, silver concentrates, copper concentrates, zinc alloys, industrial and residential electricity, edible oils and fats, among others. Its main product, "Jiulong" brand zinc ingots, is popular in non-ferrous product markets in and outside China thanks to its superior product quality and corporate reputation. Honghe Prefecture Hongqian Non-ferrous Chemical Joint-Stock Co., Ltd. On March 31, the delegation visited Honghe Prefecture Hongqian Non-ferrous Chemical Joint-Stock Co., Ltd. for exchanges. The two sides held in-depth discussions on topics including the economic benefits of smelting by-products, energy utilization efficiency, the current status of enterprise development, and future cooperation intentions. Honghe Prefecture Hongqian Non-ferrous Chemical Joint-Stock Co., Ltd. was established on August 1, 2007, with a registered capital of 50 million yuan. The total investment in project construction was 475.5543 million yuan. The company currently has over 600 employees and covers an area of 443 mu. The plant is located in the Heishenmiaobo Industrial Zone, situated in the central area of the Gejiu-Kaiyuan-Mengzi urban cluster. The company is a new-type joint-stock enterprise centered on crude lead smelting, integrating sulphur dioxide acid production, waste heat power generation, lead electrolysis, and recovery of precious and rare metals such as gold, silver, antimony, and bismuth, with further extension into deep processing of lead-series products including red lead, massicot, electrode plates, and storage batteries. It is a benchmark enterprise among private lead smelters in the city, featuring a relatively large scale, advanced technology, compliance with environmental protection standards, comprehensive utilization of resources, and a complete industry chain. The company pioneered the application of new technologies to upgrade and transform the traditional crude lead smelting model among private enterprises in the city. The company has formulated the working philosophy of "prioritizing environmental protection, ensuring safety, attracting talent, enforcing strict management, and enhancing efficiency," and continues to drive high-quality development. In April 2007, the company commissioned China ENFI Engineering Technology Co., Ltd. to conduct a feasibility study on the lead smelting technological transformation project, and determined a comprehensive industrial facility technological transformation project with a total investment of 490 million yuan and an annual capacity of 60,000 mt of crude lead. On December 21, 2009, the "Demonstration Project of Oxygen-Enriched Bottom-Blowing Lead Smelting Technology with Annual Output of 60,000 mt of Crude Lead" was designated by the Provincial Department of Science and Technology as a 2009 Yunnan Provincial Science and Technology Innovation Project. In 2010, it was further designated as a key industrial project by the provincial, prefectural, and municipal governments. On November 14, 2011, the company obtained ISO9001:2008 quality management system certification. On March 7, 2012, "HSPb99.94PCT" was successfully registered on the London Metal Exchange. In 2019, the company successively passed the safety completion acceptance and environmental impact assessment completion acceptance, fully achieving compliant operations and sustainable development. Yunnan Zhenxing Industrial Group Co., Ltd. On March 31, the delegation headed to Yunnan Zhenxing Industrial Group Co., Ltd. for a visit and exchange. Both parties conducted in-depth discussions on topics including Yunnan Province's mineral resource endowment, smelting industry development trends, corporate business strategies, and technological innovation applications, jointly assessing the current status and prospects of the industry and analyzing the challenges and opportunities ahead. Yunnan Zhenxing Industrial Group Co., Ltd. (hereinafter referred to as "the Group") was founded in 1996 and is located in the Chongposhao New Materials Industrial Park, Shadian Sub-district Office, Gejiu City. The Group currently has 7 subsidiaries, 2 holding companies, and 1 equity-participation company, with approximately 3,000 employees. Its capacity reaches annual output of crude lead (100,000 mt), electrolytic lead (60,000 mt), zinc ingot (20,000 mt), lead-acid battery plates (9 million sets), lead-acid batteries (6 million units), superphosphate (350,000 mt), sulphuric acid (200,000 mt), and monoammonium phosphate (MAP) (60,000 mt). The Group has established five major production sites and five major product brands covering crude lead raw material, lead-zinc smelting, power supply manufacturing, fertilizer and chemical production, and resource recovery. It has formed an internal industrial cycle spanning lead ore mining—lead-zinc smelting—lead-based alloy melting—battery manufacturing—waste battery recycling—precious metals production, making it one of the few private non-ferrous enterprises in China with a complete lead industry chain. Since 2013, the Group has been consecutively recognized as one of the Top 100 Non-Public Enterprises in Yunnan Province. In 2025, it ranked 41st among the "Top 100 Non-Public Enterprises in Yunnan Province" and was selected for the first time into the "Top 20 Private Enterprises in Innovation Capability," ranking 7th. Yunnan Shadian Lead Industry Co., Ltd., a subsidiary controlled by the Group, ranked 71st. The Group has received nearly 100 honors at various levels, including "High-tech Enterprise," "Outstanding Private Technology Enterprise," "Enterprise with Harmonious Labor Relations," "Provincial Model Collective for Ethnic Unity and Progress," and "Key Enterprise for Industrial Development in Honghe Prefecture" in Yunnan Province. The Group's Yunsha brand lead ingot was successfully registered on the London Metal Exchange in 2007 and on the Shanghai Futures Exchange in 2020. In 2021, the Group was rated AAA in enterprise credit rating in the national non-ferrous metals industry. In August 2024, it was designated as a "Qiangyuan Zhuqi" Industry-Finance Service Base by the Shanghai Futures Exchange. Looking ahead, the Group will pursue the philosophy of "seeking survival, pursuing development, and accelerating enterprise transformation and upgrading," adhering to the working approach of "rooting in Honghe, basing in Yunnan, radiating to surrounding regions, and expanding across China." It will thoroughly implement strategies of enterprise management transformation, technology-driven development, talent empowerment, and sustainable development, striving to achieve significant increases in capacity and production of major products by 2035, with gross industrial output value up YoY, and to build itself into a 10 billion green lead-zinc comprehensive recycling technology enterprise. Mengzi Mining and Metallurgy Co., Ltd. On March 31, SMM and the field trip delegation headed to Mengzi Mining and Metallurgy Co., Ltd. for a visit and exchange. Both parties engaged in in-depth discussions on the entire zinc smelting process, covering topics including production technology, raw material supply, product sales, environmental protection governance, and future development plans, aiming to share experience, address industry pain points, and jointly clarify the direction of development. Mengzi Mining and Metallurgy Co., Ltd. was established in 1996. It is a resource-based mining and metallurgy enterprise integrating R&D, exploration, mining, mineral processing, smelting, and trading, with a focus on comprehensive utilization of resources. The company is one of the few comprehensive private enterprises in the non-ferrous metal industry that possesses an entire industry chain and operates independent trading and supply chain business platforms. It is among the top 100 enterprises in Yunnan Province and a key enterprise in Honghe Prefecture. Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. — Danxia Smelter On April 2, the SMM delegation visited Zhongjin Lingnan's Danxia Smelter for a survey and field trip to the core plant area. In-depth discussions were held on production operations, technological R&D, and raw material procurement, covering key topics such as production capacity, technical cooperation, and raw material procurement strategies. Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. (hereinafter referred to as "Zhongjin Lingnan") was established in September 1984 and listed on the Shenzhen Stock Exchange in January 1997 (stock code: 000060). It is an internationalized entire industry chain resource company primarily engaged in lead, zinc, and copper mining, mineral processing, and smelting, as well as comprehensive recovery of rare, scattered, and precious metals. It is a publicly listed firm controlled by Guangsheng Holdings Group, a key wholly state-owned enterprise under Guangdong Province. Zhongjin Lingnan's business covers segments including mines, smelting, new materials, and supply chains. It has 23 directly affiliated enterprises, wholly-owned and controlled subsidiaries. Major operating entities include Fankou Lead-Zinc Mine, Shaoguan Smelter, Danxia Smelter, Zhongjin Copper Co., Guangxi Mining Co., Perilya Limited in Australia, Zhongjin Technology Co., and Huajiari Co. The company has an annual output of 300,000 mt of lead and zinc metal content in concentrates, 450,000 mt of smelted lead and zinc products, 450,000 mt of copper cathode, 21,000 mt of aluminum extrusion, 20,000 mt of battery zinc powder, and 5,400 mt of composite metal materials. Among these, its battery zinc powder ranked first in Chinese market share, nickel-metal hydride and nickel-cadmium battery electrode sheets & plates materials ranked first in Chinese market share, and thermal bimetal ranked first in Chinese market share. The 2026 field trip brought together some global lead and zinc industry leaders for an inspiring and highly productive journey across China’s leading smelters and enterprises. The warm welcome, operational excellence, and innovative technologies on display made this event a resounding success — and we extend our deepest gratitude to all the companies and participants who made it happen. Looking ahead – Save the date for 2027: We are excited to announce that the 2027 SMM (22nd) Lead & Zinc Conference and Industry EXPO will take place from March 17–19, 2027 in Kunming, Yunnan, China . This premier event will once again bring together the global lead-zinc community for high-level networking, insight sharing, and industrial exploration. Interactive call – We want to hear from you: As we plan the field trip for the 2027 conference, we’d love your input. Which smelters or companies would you most like to visit for technical exchange and on-site learning? Please share your suggestions in the comments below — your feedback will help shape the 2027 experience. Let us know where the industry should go next!

Capacity side, according to incomplete statistics, China’s alkaline electrolyzer market remained at 43.77 GW, and the PEM electrolyzer market remained at 2.7 GW, with no new capacity added. No offline delivery information was available this week. Project-related updates: Guohua (Ningxia) New Energy Co., Ltd.: A price inquiry procurement was issued for the pre-feasibility study report preparation service for the Guohua Ningxia 100,000-mt Green Hydrogen Energy Supply Base Project (chemical section). It was understood that the Ningdong water electrolysis hydrogen production project of Guohua Ningxia had already put into operation a scale of 20,000 Nm³/h, with 6,000 Nm³/h under construction. Datang Inner Mongolia Duolun Coal Chemical Co., Ltd.: An inquiry-based procurement was launched for the feasibility study and green methanol certification consulting technical services for the CNCEC Duolun Coal Chemical coal-based process biomass co-firing coupled with green electricity green methanol production project. It was understood that the Datang Duolun 150,000-kW wind and solar power hydrogen production integrated demonstration project was China’s first medium-to-large-scale technology demonstration project for off-grid wind and solar power hydrogen production deeply coupled with coal chemical engineering. It was invested in and constructed by Datang Duolun Ruiyuan New Energy Co., Ltd., with a total investment of approximately 1.3 billion yuan. Construction officially began in November 2023, hydrogen was successfully produced on December 29, 2024, and it was formally connected to grid and put into operation on January 17, 2025. Shaanxi Construction Installation Group Co., Ltd.: The Guyang-Baiyun Obo gas transmission pipeline project, undertaken by Shaanxi Construction Installation Group, reached a major milestone, with its Guyang initial station and valve chamber having successfully passed completion acceptance. It was reported that the gas transmission pipeline project has a 20% hydrogen blending transmission capacity and is a key planned construction project under the “county-to-county coverage in western Inner Mongolia” initiative in the Inner Mongolia Autonomous Region’s 14th Five-Year Plan for oil and gas development. The pipeline has a total length of 125 km, starting from the Guyang initial station and generally running from south to north, successively passing through Guyang County, Darhan Muminggan Banner, and the Baiyun Obo mining district in Baotou City, and ultimately reaching Barun Industrial Park. Jiamusi Hanya New Energy Co., Ltd.: The Jiamusi Hanya wind power hydrogen production synthetic green methanol integrated project was filed. The project is located in Heilongjiang Province, with a total investment of 4 billion yuan. Construction scale and contents: mainly the construction of a 300,000-mt green methanol production unit and a thermal energy storage unit, with a planned land area of approximately 350,000 m². Windey Energy Technology Group Co., Ltd.: The list of winning candidates was announced for the biomass gasification process package and technical services project for the first-phase Handan Biomass Green Methanol Project. The top-ranked winning candidate was East China Engineering Science and Technology Co., Ltd. It was understood that East China Engineering has extensive experience in the gasification field, with experience in the design, construction, EPC general contracting, commissioning, and operation of more than 100 gasifiers, covering various mainstream processes such as fixed bed, fluidized bed, and entrained-flow bed. Zhongqing Xinneng (Baotou) Equipment Co., Ltd.: The annual production project for 100,000 hydrogen storage cylinders for hydrogen two-wheelers was filed. The project is located in Kundulun District, Baotou City, Inner Mongolia Autonomous Region. It plans to build a production line with an annual capacity of 100,000 hydrogen storage cylinders for hydrogen two-wheelers, including production workshop renovation and supporting utilities. Annual output value will reach 100 million yuan. The planned construction period is from April 2026 to September 2026. Shenneng North (Otog Banner) Energy Co., Ltd.: The change to the 30 MW-class pure hydrogen gas turbine hydrogen energy storage demonstration project under the Otog Banner integrated wind and solar power hydrogen production and green ammonia synthesis project was filed. After the change, the project site is located in the eastern project area of the Ordos Otog Economic Development Zone, within Shenneng's water electrolysis hydrogen production station in Ordos City, Otog Banner, bounded to the north by the green hydrogen-to-green ammonia project under the Otog Banner integrated wind and solar power hydrogen production and green ammonia synthesis project, to the east by Jingsan Street, to the west by Jinger Street, and to the south by Weisi Road. Construction scale and content: the project covers an area of 500 sq m, of which the hydrogen gas turbine occupies 300 sq m. As a hydrogen energy storage demonstration project, it includes one 30 MW pure hydrogen gas turbine, generator, hydrogen storage equipment, and supporting facilities. Through wind and solar power generation and water electrolysis for hydrogen production, the project has a total hydrogen storage capacity of 360,000 Nm³, an effective hydrogen storage volume of 270,000 Nm³, and is equipped with 12 spherical hydrogen storage tanks, each with a water capacity of 1,875 m³. Jiyuan (Siping) Green Energy Co., Ltd.: The EPC tender for the hydrogen production works of the SPIC Green Energy Lishu wind and solar power hydrogen production, biomass-coupled green methanol project was released. It is understood that the project is located in the chemical park of the Siping New-type Industrialized Economic Development Zone, Lishu County, Siping City, Jilin Province. It adopts a green hydrogen coupled with biomass gasification process to synthesize 197,200 mt/year of methanol, started construction in August 2025, and is expected to be commissioned in September 2027. The project includes three hydrogen production workshops. Workshops No. 1 and No. 2 each are arranged with 12 sets of 1,000 Nm³/h alkaline electrolytic hydrogen production electrolyzers plus three sets of 4,000 Nm³/h hydrogen purification units; Workshop No. 3 is arranged with four sets of 1,000 Nm³/h alkaline electrolytic hydrogen production electrolyzers plus one set of 4,000 Nm³/h gas-liquid separation unit, among others. Sinopec Sales Co., Ltd. Tibet Petroleum Branch : The tender notice for Section I of the general construction contracting project for the Shannan hydrogen-oxygen combined supply project was released. The construction site is in Naidong District, Shannan City, Tibet Autonomous Region; the planned construction period is 180 days; the estimated contract value for the section is 27.23 million yuan (tax included); the hydrogen production portion of the section tender includes an IGBT rectifier and control system skid, hydrogen production skid, oxygen purification unit, pure water machine and chiller unit skid, and related supporting facilities, while the hydrogen refueling portion includes a 35 MPa dual-nozzle hydrogen dispenser, 45 MPa hydrogen compressor skid, 45 MPa hydrogen storage cylinder bank, and sequence control panel. Ming Yang Smart Energy Group Co., Ltd.: It held a signing ceremony at Ming Yang Group headquarters for the hydrogen-fueled gas turbine complete-unit R&D and manufacturing project with the People's Government of Hudai Town, Binhu District, Wuxi City, Jiangsu Province, with both parties formally reaching a strategic cooperation agreement. Sichuan Zhongke Hydrogen Energy Technology Co., Ltd. : First Public Notice of Environmental Impact Assessment Information for Phase II of the Integrated Energy Station Project Featuring Hydropower, Wind and Solar Power, Hydrogen, and Natural Gas Multi-Energy Complementarity. According to the document, Phase II of the integrated energy station project featuring hydropower, wind and solar power, hydrogen, and natural gas multi-energy complementarity is located in Nanchong High-tech Zone, with Sichuan Zhongke Hydrogen Energy Technology Co., Ltd. as the project developer. It will build an integrated hydrogen production and refueling station, along with supporting public utility facilities, to realise the hydrogen refueling function of the integrated energy station for hydrogen-powered vehicles, and will also build one hydrogen energy industry R&D production site. GRINM Engineering Institute Co., Ltd. : The new materials pilot platform in Huairou Science City completed final acceptance upon completion, and four key pilot lines, including solid-state hydrogen storage and ceramic co-firing materials, entered the stage of commissioning and line integration. Among them, the total investment in the solid-state hydrogen storage project is 14.5 million yuan, and the total investment in the ceramic co-firing materials project is 12 million yuan, which will support the commercialisation of new material achievements and the industrialisation of hydrogen energy and key electronic materials. Policy Review​ 1. The Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission (NDRC) issued a notice on carrying out pilot work for the comprehensive application of hydrogen energy. The document states that by 2030, hydrogen energy in city clusters is expected to achieve large-scale application across diverse fields, and the average price of hydrogen for end-use is expected to fall below 25 yuan/kg, with efforts to reduce it to around 15 yuan/kg in certain advantaged regions; national fuel cell vehicle ownership is expected to double from the 2025 level, with efforts to reach 100,000 units. Through the expansion of application scale, it will promote innovative breakthroughs in hydrogen energy application technologies, processes, and equipment, realise iterative upgrades of fuel cells, electrolyzers, storage and transportation devices, and materials, and promote hydrogen energy as a new economic growth driver to support a comprehensive green transformation of economic and social development. 2. The People's Government of Hunan Province issued the Hunan Province 2026 Plan for National Economic and Social Development. The document states that efforts will be made to advance the circular economy and cleaner production and build a number of zero-carbon parks and zero-carbon factories. It is expected to accelerate the green and low-carbon transformation of the energy system, optimise the management of new energy project pipelines, and speed up the construction of key wind and solar power projects. It will expand green energy consumption scenarios and implement a three-year doubling plan for the service capacity of charging facilities. It will also actively develop the hydrogen energy industry and expand the scale of natural gas utilisation. 3. With the approval of the National Energy Administration, the Standardization Technical Committee for Hydrogen Energy in the Energy Industry was established in Beijing. The establishment of this committee was intended to improve the industry standards system, lead technological innovation, and regulate market order. Enterprise Developments Haida Qingneng Ship (Dalian) Co., Ltd.: The nation's first inland 64-TEU hydrogen fuel cell-powered container vessel, Dongfang Qinggang, for which it supplied the powertrain, successfully completed its first long-distance trial voyage. The entire system operated stably, the navigation performance was excellent, and the trial voyage was a complete success. Hydrogen Power (Beijing) Technology Services Co., Ltd.: 100 hydrogen-powered refrigerated trucks were officially delivered to Hydrogen Cheng Times and will be operated by Hydrogen Power Technology as the agent. Rongcheng New Energy Group: Successfully delivered 50 hydrogen-powered heavy trucks to Cangzhou Huagang International Logistics Co., Ltd. This batch of vehicles will be put into service on the transport route from Huanghua Port to the Shandong Lubei Aluminum Industry Base. CSSC Engine Co., Ltd.: Its WinGD6X72DF-A-1.0 ammonia-fueled low-speed engine successfully passed functional integration approval and bench testing, and was successfully delivered in Qingdao. It is understood that this was the first ammonia-fueled marine engine in China to be formally delivered as a commercial product. Aerospace Engineering Company: Signed contracts for two major green hydrogen engineering projects in succession, namely the hydrogen refueling station water electrolysis hydrogen production project of Zhongqing Energy Development (Shandong) Co., Ltd., and the electrolytic hydrogen production unit project for the Inner Mongolia Fenglü green hydrogen-coupled coal-to-olefins project. For these two projects, Aerospace Engineering Company will provide a total of 16 sets of HTJSDJ-1000/1.6 alkaline electrolyzers, together with supporting post-processing systems and utility engineering equipment, and will be responsible for engineering design. This cooperation marked Aerospace Engineering Company's simultaneous breakthroughs in the two major fields of green transportation and green hydrogen chemicals. Qinghang Times (Shenzhen) Technology Co., Ltd. : Qinghang Times was established on January 5, 2026, with a registered capital of 1 million yuan and legal representative He Rongjie. Founded by a Tsinghua University master's and doctoral team, it received support from Tsinghua entrepreneurship and innovation platforms including Tsinghua i-Space and Tsinghua Chuang+, and was selected for the Sci-Tech Innovation Light "Future Tech Innovators Program." With a technical solution combining liquid hydrogen storage and a high-temperature PEM hydrogen-electric coupling system, it increases aircraft driving range by more than 10 times and payload capacity by 2-3 times. Recently, it completed seed-round financing of several million yuan, with the investor undisclosed. Shenzhen Hydrogen Zhi Energy Co., Ltd.: Completed A+ round financing, with Shenzhen Energy Investment as the investor. Anhui Mashui New Energy Technology Co., Ltd. : Anhui Mashui Technology completed A-round financing of over 100 million yuan, led by NIO Capital. This round of funding will be used primarily to fulfill large orders, increase R&D reserves, support new factory construction, and cover daily operations, so as to drive the integration and upgrading of the industry chain. China Energy Engineering Corporation Research Institute: The kick-off meeting for the international standard High-Pressure Liquid Hydrogen Pump for Hydrogen Refueling Stations, led and submitted by the Low-Carbon Institute, was held online. Since the standard was approved for project initiation in November last year, this meeting clarified the advancement plan and technical roadmap, bringing together 20 experts from China, the United States, Germany, France, Russia, Japan, and the European Industrial Gases Association, who reached consensus on core issues such as the standard’s scope and application scenarios, thereby laying a solid foundation for the high-quality and timely delivery of the standard. Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd. : A delegation from Thailand’s water, electricity, and related institutions came to China for exchanges on the new energy industry and made a special trip to Zhangjiagang, Jiangsu, to visit the rooftop PV hydrogen production project jointly developed by Zonergy and Guofu Hydrogen Energy. It was understood that the project relied on a distributed PV system installed on factory rooftops and used PV power generation to provide clean and stable electricity for enterprise production and energy applications, balancing efficient energy utilization with green development; at the same time, it integrated hydrogen energy application scenarios and was equipped with an ESS to ensure a stable energy supply for hydrogen production. It is a leading distributed PV hydrogen production demonstration project in China by scale, showcasing China’s advanced achievements in the integrated development of PV and hydrogen energy. Beijing SinoHytec Co., Ltd.: Signed a strategic cooperation agreement with Haitai Solar and the Hebei Hydrogen Energy Society, relying on the National Energy Administration’s first batch of hydrogen energy pilot policies and centering on the Zhangjiakou-Chengde-Tangshan hydrogen energy regional pilot to advance the deep integration of “government, industry, academia, research, and application.” The three parties will focus on the Kangbao-Caofeidian long-distance hydrogen pipeline with annual hydrogen transmission capacity of 1.55 million mt, creating a “hydrogen production in Zhangjiakou and Chengde, application in Tangshan” model. Haitai Solar will provide SinoHytec with a stable hydrogen supply and storage and transportation services, addressing the industry’s high storage and transportation costs and supporting high-quality regional hydrogen energy development and the implementation of the “dual carbon” goals. The Sixth Academy of China Aerospace Science and Technology Corporation: Released four new hydrogen energy products in Beijing, including an onboard liquid hydrogen system, liquid hydrogen refueling equipment, a liquid hydrogen tank container, and an alkaline electrolyzer, and also released a blue book on the hydrogen energy industry to help build the hydrogen energy industry ecosystem. Beijing Hydrosys Technology Co., Ltd.: Its self-developed hydraulic-driven hydrogen compressor underwent rigorous assessment and passed EU CE certification. Patent Applications 1. Shanghai Institute of Ceramics, Chinese Academy of Sciences (China) disclosed patent CN2025110028 and developed a ceramic-based anion exchange membrane, with a laboratory-tested service life of up to 80,000 hours. 2. Johnson Matthey (UK) filed patent WO2025109876, disclosing an Fe-Ni-Mo ternary non-precious metal catalyst formulation with activity close to that of platinum-based materials. Technology Footprint/Technical Specifications 1. A joint team from Xi’an Jiaotong University and Peking University jointly conducted R&D on a new-type osmium-based catalyst, significantly improving the efficiency and economics of hydrogen production via AEM water electrolysis and supporting the large-scale deployment of low-cost green hydrogen. 2. Johnson Matthey and Syensqo achieved efficient recycling and reuse of platinum group metals and ionomers in PEM fuel cells and electrolyzers, significantly reducing the carbon footprint. 3. Relevant research teams from the School of Electrical Engineering at Xi’an Jiaotong University and the State Key Laboratory of Electrical Materials and Electrical Insulation successfully developed the Ru/Ti3C2Ox@NF bifunctional electrocatalyst for seawater electrolysis. 4. The group standard Technical Specification for Hydrogen Production by Coupled Electrolysis with Wind and Solar Power, PV+ESS, and Green Electricity (No. T/CIEP 0272—2025) was released and implemented by the China Industrial Environmental Protection Promotion Association. Zhongneng Dayou Energy Technology Co., Ltd. successfully developed a 100 kW-class PEM electrolyzer hydrogen production multi-field coupling test device. 5. GKN Powder Metallurgy announced that it has developed a next-generation high performance, high-porosity, high-purity porous transport layer (HP-PTL) for proton exchange membrane (PEM) electrolysis.

Entering the Emergency Command and Production Monitoring Center at the headquarters of Shaanxi Nonferrous Metals Group, one saw data converging like streams on a giant LCD screen: robotic arms in the titanium processing workshop were moving with precision, and the current parameters of the aluminum electrolysis cells were fluctuating in real time... The production and operational status of more than a dozen subsidiaries, spanning hundreds of kilometers, was condensed into a limited space and transformed into vivid strings of numbers. “In the past, dispatching relied on phone calls, inspections relied on walking, and emergency response took at least two hours; now, with a click of the mouse, real-time conditions at the site are instantly displayed. We no longer depend on verbal descriptions from personnel, the scenarios are more realistic, command is more precise, and contingency plans can be activated within minutes.” The words of the person in charge of the Enterprise Management and Operations Information Department of Shaanxi Nonferrous Metals Group conveyed a sense of composure and confidence. That composure stemmed from a profound digital transformation. In 2025, Shaanxi Nonferrous Metals Group fully launched its “Year for Enhancing Digitalized Management and Control,” placing information technology development at the core of efforts to drive high-quality transformation and upgrading. Over the past year, with the overall objective of “vertical integration, horizontal connectivity, real-time online operations, coordinated action across all levels, and precise, effective execution,” Shaanxi Nonferrous Metals Group systematically advanced work across multiple dimensions, including business process reengineering, information system integration, and unified data standards, gradually building a digital system covering all areas of business operation and management, and injecting strong momentum into the enterprise’s modern governance and industrial upgrading. Top-Level Planning Seeing One Blueprint Through to the End In 2025, the information technology work of Shaanxi Nonferrous Metals Group closely focused on the annual goal of “initial visible results” in high-quality transformation and upgrading, serving the development of a modern industrial system and governance system. By building a management and control business system featuring “vertical integration and horizontal connectivity,” it established three major implementation paths: first, comprehensively reviewing and redesigning business processes to achieve standardized management; second, joining forces with leading technology companies in the industry to build a vertically integrated management and control system spanning all levels of the group; and third, unifying the standards and coding for eight categories of master data, including organization, personnel, materials, and accounting subjects, breaking through horizontal business barriers and focusing on in-depth digital development in key business areas such as investment, procurement, safety, finance, human resources, and Party building. To ensure effective implementation, Shaanxi Nonferrous Metals Group innovatively established a promotion mechanism featuring “three meetings, three lists, and three services.” It strengthened overall planning and coordination through the monthly meeting of the information technology leadership group, special project meetings, and work promotion meetings; relied on demand, project, and progress lists to achieve refined and period-based management; and ensured the solid implementation and sustained operation of information technology projects through full-cycle services covering consulting, development, and operations and maintenance. Building on Systems Constructing a Solid “Digital Tower” Shaanxi Nonferrous Metals Group used a major push in digital and intelligent transformation and upgrading to strengthen the foundation of its industrial reform and transformation, focusing on building a “big digital intelligence” empowerment system and using new models, new business forms, and new tools to amplify reform results. Consolidate the digital foundation. Strengthen digital infrastructure development across all industry chain clusters and all affiliated enterprises, accelerate the enhancement of data collection, processing, management, and application capabilities across the entire industry chain of “exploration, research, construction; mining, beneficiation, smelting; materials, equipment, trade,” and build a solid foundation for digital transformation. Focus on building a robust and reliable digital foundation and establish the overall “5 Ones + N” information architecture: “one foundation,” the Shaanxi Nonferrous enterprise cloud platform and a high-speed broadband network covering the Group’s information applications; “one platform,” a digital empowerment platform; “one portal,” the Group’s unified portal (external portal + internal portal); “one safeguard,” an information security and operations and maintenance support system; “one standard,” a standards and specifications system; and “N applications,” N business application systems covering the three levels of strategic decision-making, business management, and production operations. Improve data connectivity. Build a network interconnection environment and data flow mechanism covering all affiliated enterprises, accelerate information interconnection and computing power support, break down “data silos” across different links such as R&D, production, management, and marketing, and improve the level of internal business data integration and collaboration across the entire system. Through five major measures, including strict implementation of the “top leader accountability system,” the use of domestically developed and controllable products for basic software and hardware, PTN dedicated lines plus zero-trust technology to provide data exchange channels, the implementation of classified cybersecurity protection assessments for important information systems, and regular attack-and-defense drills, Shaanxi Nonferrous Metals Group built a multi-dimensional cybersecurity defense line to firmly safeguard the enterprise’s digital assets. At the same time, guided by the core objectives of “unified standards, unified platform, unified interfaces, and unified operations and maintenance,” supported by three major systems—the master data standards system, master data management system, and master data integration system—and carried by one intelligent master data management platform, it established a “1+3+1” data resource management system to achieve the aggregation, governance, and value mining of dispersed data. Strengthen intelligent integration. Focus on all links of “exploration, design, mining, ore dressing, smelting, processing, and trade,” vigorously advance the development of digital and intelligent demonstration scenarios, and build demonstration projects for advanced green digital and intelligent technologies. Centered on the entire value chain, all asset elements, and the full life cycle, make every effort to build an intelligent collaboration platform to support high-end upgrading, underpin green development, ensure production safety, and achieve efficient operations. Breakthroughs on Multiple Fronts Key Projects Demonstrate Digital Results The implementation of a series of key projects has become vivid testimony to the transformation and upgrading of Shaanxi Nonferrous Metals Group. Party-building informatization turned “soft tasks” into “hard indicators.” In response to the characteristics of primary-level Party organizations being “numerous in points, extended in lines, and broad in coverage,” the “Nonferrous Pioneer” Party-building informatization platform launched in 2025 integrated big data and artificial intelligence technologies to build a management matrix covering 6 major modules, 35 core businesses, and 80 detailed items, moving Party-building work from “paper” to “online.”Since the platform began operation, the efficiency of Party affairs processing has increased by 80, the incidence of overdue tasks has fallen by more than 50, the error rate in manual reporting has decreased by 80, and work traceability has achieved 100 digital coverage. By transforming Party-building assessment indicators into value-output dimensions such as strategic enforcement and risk prevention and control capability, a closed-loop mechanism of “push-execute-supervise-feedback” has been established, enabling deep integration between Party-building work and production and operations, with visible data and tangible results. Human Resources Informatization, Unlocking the Potential of the “Primary Resource.” Human resources informatization has entered a new stage of process-based and collaborative management, realizing full-process online and standardized management across organization management, personnel management, compensation and benefits, and performance management. It has not only addressed the problems of low efficiency and long processing times for procedures such as onboarding, confirmation of employment, job transfer, and resignation, but also resolved pain points such as non-standard approvals, inconsistent policy enforcement, and error-prone data verification. The effectiveness of operations management, compliance management, and data management has been improved in parallel, making human resources a true core driver of enterprise development. Financial Informatization, Building a Strong “Embankment” for Risk Prevention and Control. By implementing a decentralized, penetrative, group-wide financial control model, Shaanxi Nonferrous Metals Group established a three-in-one risk prevention system covering “operational risk-business risk-financial risk,” achieving end-to-end penetrative management “from business to statements, and from statements to funds,” and providing intelligent decision-making support throughout the full cycle of “post-event review-in-process optimization-pre-event predictive simulation.” The finance-supply chain integration project launched in January 2026 will further connect key links such as procurement, accounting, and capital, providing real-time and accurate data support for decision-making. Safety and Environmental Protection Informatization, Building a “Dual Line of Defense” Through Whole-Chain Intelligent Control. Taking the development of safety and environmental protection informatization as a starting point, Shaanxi Nonferrous Metals Group continuously deepened its intelligent monitoring and early warning capabilities and accelerated the construction of a whole-chain, visualized intelligent safety and environmental protection control system, thereby reinforcing the safety foundation for high-quality transformation and upgrading. Deepening intelligent monitoring to improve the precision of early warning. After the Group’s dual-prevention informatization platform went online, it established three-dimensional data coordinate models for major hazard sources such as mines, tailings ponds, and hazardous chemicals, accurately mapped key risk monitoring points onto the models, and visually presented hidden disaster-causing factors, thereby enabling intelligent risk analysis, assessment, and early warning. At the same time, it comprehensively promoted an informatized management platform for hazard identification and rectification, achieving full-process closed-loop management of issues and hazards from discovery and rectification to closure through real-time entry, dynamic updating, and whole-process tracking, and strictly preventing “omitted hazards and delayed rectification.” Strengthening process control to reinforce the on-site safety line of defense. Tianhong Ruike, through linkage with the digital dual-prevention system, achieved precise positioning of workers, real-time risk monitoring, and intelligent early warning, building a visualized safety assurance system deeply integrating “human-based prevention + technology-based prevention,” and driving on-site safety management from “passive response” to “proactive prevention.”Empowering outsourced operations oversight to achieve penetrative management. Relying on its safety and environmental protection information management and control platform and the Safety Assistant app, the Smelting Branch of Jinduicheng Molybdenum Group has established a model of “full-process online supervision + dynamic data empowerment” for contractors, enabling real-time tracking and closed-loop management across multiple links, and advancing outsourced operations oversight from “blurred control” to “precise penetration,” with both the penetrative strength and timeliness of supervision improved in tandem. In addition, a number of key projects, including the private cloud platform, the group-wide backbone network, and the electronic tendering and procurement platform, were completed and put into operation one after another, playing an important role in improving resource utilization rates, ensuring safety and compliance, and strengthening risk prevention and control. The outline of “Digital Nonferrous” is becoming increasingly clear. Intelligence Ushers In the Future Embarking on a New Journey Toward “AI+” Looking ahead to the 15th Five-Year Plan period, Shaanxi Nonferrous Metals Group’s information technology development will deepen the transformation toward “penetrative” management, use the “AI+” initiative as a key driver, and promote the intelligent upgrading of the traditional “mining, beneficiation, smelting, and processing” industries. Adhering to the approach of “building benchmarks, focusing on exemplars, and leading through demonstration,” the group will advance, in a coordinated and step-by-step manner, the full-chain work of “construction, trial operation, and acceptance” for more than 20 information technology projects currently under implementation. It will create typical application scenarios in fields such as mine exploration, mining and beneficiation, metal smelting, processing and manufacturing, and design and construction, so as to drive quality improvement and efficiency gains across the entire industrial chain from key points to the broader whole, and inject new vitality into traditional industries. Starting from applications in production scenarios, it will also build foundational computing power platforms in parallel, and gradually establish a working path for the fine-tuning and deployment of industry-specific large models. Ultimately, it will realize a shift from “experience-driven” to “data- and AI-driven,” move from single-point breakthroughs to system-wide empowerment, advance the intelligent upgrading of industry, and comprehensively enhance enterprises’ core competitiveness in such areas as resource security, production efficiency, cost control, green development, and decision-making capability. The surging tide spurs us forward, and the wind is just right for setting sail. Shaanxi Nonferrous Metals Group will take information technology and intelligent technology as its oars, lead with innovation, strive for excellence through solid work, ride the waves on the voyage toward high-quality transformation and upgrading and tangible improvement in quality and performance, and press ahead at full speed toward the goal of building a world-class enterprise.

On January 29, Jia Zhenglan, President of the China Council for the Promotion of International Trade (CCPIT) Shaanxi Sub-council and Shaanxi International Chamber of Commerce, led a delegation to Beijing for a meeting with Ouyang Liwen, Chief Representative of the Beijing Representative Office of the German Chamber of Commerce and Industry. The two sides held in-depth discussions on deepening practical cooperation within the industrial and commercial sectors and sharing market opportunities, focusing on key areas such as intelligent manufacturing, low-carbon energy, technological innovation, and cultural go global. During the meeting, the CCPIT Shaanxi Sub-council invited the German side to participate in key events such as the International Chambers of Commerce (Xi'an) Exchange and Matchmaking Conference and the Yulin Coal Expo, and explored matters related to jointly organizing economic and trade exchange activities. Simultaneously, it facilitated precise connections to German market resources for member enterprises such as Shaanxi Hydro-Solar Dual Energy Technology Co., Ltd. and Shaanxi Tomato Culture Development Co., Ltd. The German representatives expressed positive willingness to participate in and co-organize related events. It is reported that the German Chamber of Commerce and Industry is one of Germany's three official foreign economic promotion agencies. Its core tasks are to safeguard enterprise interests, promote commercial and economic development, and assist German enterprises in addressing global supply chain challenges. Responsible personnel from the Investment Promotion Department of the CCPIT Shaanxi Sub-council and representatives from member enterprises of the Shaanxi International Chamber of Commerce participated in the meeting. As a key enterprise promoted during this Shaanxi-Germany exchange, Shaanxi Hydro-Solar Dual Energy Technology Co., Ltd. deeply felt the solid support and forward-looking planning provided by the organizing bodies for enterprise development. This interaction not only served as recognition of its technical strength and market value but also injected strong confidence into the company's growth. In the future, Hydro-Solar Energy will continue to consolidate its capabilities and enhance product quality. With the support and promotion of the CCPIT Shaanxi Sub-council, the International Chamber of Commerce, and the German Chamber of Commerce and Industry, it will join hands with Chinese and foreign partners to open a new chapter in international cooperation in the field of low-carbon energy.

[Jin'an Mining's 9-series Permanent Magnet Ferrite Ultra-pure Iron Powder Pre-sintered Material Project Goes into Operation] On June 7, Nanjing Iron & Steel Group Co., Ltd. (NISCO) and Huoqiu County signed a contract for the transfer of the exploration rights of the Fanqiao Iron Ore Mine, and held the inauguration ceremony for the 9-series Permanent Magnet Ferrite Ultra-pure Iron Powder Pre-sintered Material Project of Jin'an Mining. This project fills a technological gap in China. Huang Yixin, Chairman of NISCO, expressed the intention to build a world-class technology enterprise. Jin'an Mining will adhere to the dual-core business strategy of "resources + new materials," promote the construction of modernized mines and the listing plan, and contribute to the high-quality development of Huoqiu County. Huo Shaobin, Secretary of the Huoqiu County Party Committee, emphasized the optimization of the business environment and support for enterprise development.

Against the backdrop of intensifying global competition in high-end manufacturing and domestic industrial structure upgrading, the titanium industry, as a vital component of the new materials sector, is ushering in a new wave of development opportunities. From titanium ore mining and beneficiation to high-end titanium product manufacturing, and from low-level, disorderly exploitation to green and innovative advancements, Yunnan Province is accelerating the layout of its titanium industry chain, leveraging its abundant titanium resources, clean energy advantages, and geographical strengths. With the vision of a "Green Titanium Valley," it has emerged as a new force in China's titanium industrial landscape. Clustered Enterprise Development An Increasingly Refined Industry Chain At the LB Group's Yunnan base in Qingfeng Town, Lufeng City, Chuxiong Yi Autonomous Prefecture (hereinafter referred to as "Chuxiong Prefecture"), the 3,500-acre facility is meticulously arranged. In the packaging workshop of LB Lufeng Titanium Co., Ltd., chlorination-process titanium dioxide is fully automated and isolated during bagging, with rows of conveyor belts neatly stacking the packaged titanium dioxide. Daily, 380 mt of titanium dioxide is shipped from here. Over the past four years, driven by technological upgrades and innovation, the operational stability of the company's chlorination-process titanium dioxide production line has significantly improved, with both production and output value steadily increasing for four consecutive years. Production rose from 40,000 mt in 2020 to 121,000 mt in 2024, while output value grew from 1 billion yuan in 2020 to 2.44 billion yuan in 2024. Titanium is hailed as the "third metal" following iron and aluminum, rapidly rising in prominence, and is also celebrated as the space metal, ocean metal, bio-metal, and future metal. The global titanium industry has only an 80-year history, and due to the complexity of titanium metallurgy, only a few countries—such as the US, Russia, Japan, and China—have established comprehensive titanium industrial research and application systems. Yunnan Province boasts unique titanium resources with exceptionally favorable mining conditions. By 2020, 66 titanium ore deposits had been discovered in the province, with proven reserves of 55.61 million mt, ranking third nationally. These resources are primarily distributed in central, southern, and western Yunnan. Among them, the central Yunnan mining area, located at the intersection of southern Yunnan, western Yunnan, and the Panzhihua mining area in Sichuan, serves as the central hub of titanium resource distribution in south-west China. This region is densely surrounded by titanium industries, having developed and formed the Fumin titanium salt industrial base, represented by sulfate-process titanium dioxide; the Lufeng titanium industrial base, characterized by chlorination-process titanium dioxide, sponge titanium, and titanium processing; and the Wuding titanium industrial base, known for its production of high-titanium slag and other titanium-rich materials. In 2021, the green titanium industrial cluster jointly developed by Lufeng City and Wuding County received provincial recognition and support as a cultivation-type advanced manufacturing cluster. Recently, it was also included in the development scope of the central Yunnan rare and precious metals new materials industrial cluster, earning national-level recognition as an advanced manufacturing cluster. Benefiting from its superior transportation, geographical location, and solid industrial foundation, the titanium industry in Chuxiong Prefecture has flourished. Currently, Chuxiong Prefecture has gathered over 30 titanium industry enterprises, forming a complete industry chain from titanium ore mining and beneficiation to the production of high-titanium slag, chloride-process titanium dioxide, titanium sponge, and titanium materials. It has become the only region in China and even globally with a complete titanium industry chain. In Lufeng City, the titanium industry has clustered, forming a collective development trend. In May 2019, Yunnan Metallurgical Xinli Titanium Industry Co., Ltd., which was on the verge of bankruptcy, was acquired by Lomon Billions Group. After restructuring, it received support from LB Group Co., Ltd. in various aspects such as talent cultivation, technological transformation, and technological innovation. "In 2023, the company's 200,000 mt chloride-process titanium dioxide project was completed and put into operation, and it has now become a leading enterprise in the titanium dioxide industry in Yunnan Province," Liu Hongxing, Chairman of LB Lufeng Titanium Industry Co., Ltd., told the author. Yunnan Guotai Metal Co., Ltd., also a subsidiary of LB Group, is mainly engaged in the production, R&D, and sales of titanium sponge. It has initially established a full-process industry chain of "titanium ore - titanium concentrate - high-titanium slag - titanium tetrachloride - electrolytic magnesium - titanium sponge," with an existing annual production capacity of 80,000 mt of high-titanium slag and 50,000 mt of titanium sponge, ranking first in the world in terms of titanium sponge production capacity. In 2024, the company's 30,000 mt/year rotor-grade titanium sponge production project reached full production, with an annual production capacity of 50,000 mt. Yunnan Titanium Industry Co., Ltd., located in Tuguan Town, Lufeng City, mainly produces titanium and titanium alloy casting ingots, titanium coils, titanium rod wires, and titanium wide and thick plates. In 2024, the company's production and sales volumes were both around 3,000 mt. Liu Kun, Deputy General Manager of the company, stated that with the continuous and rapid development of the titanium industry chain's process technology, the production and sales volumes of titanium products produced by the enterprise have steadily increased, and their application fields are rapidly expanding. The excellent metallic properties of titanium provide indispensable support for key fields such as aerospace, marine vessels, metallurgical and chemical engineering, medical devices, sports and leisure, and civilian products. The company focuses on the R&D of new titanium and titanium alloy products and the extended processing of titanium materials, actively applying its unique advantages to more fields. As of 2023, there were over 150 enterprises in Yunnan Province's titanium industry, with nearly 50 key producers. The total industrial output value of the titanium industry amounted to 11 billion yuan, of which 8.86 billion yuan was in Chuxiong Prefecture and 2.14 billion yuan was in Kunming. Enhancement of Innovation Capabilities Continuous Growth in Development Potential The preciousness of titanium mainly lies in its complex smelting process and high processing costs. Yunnan Province's titanium industry started relatively early, but due to limitations in talent, technology, capital, and institutional mechanisms, its development was relatively slow, and it remained in a state of low-level and disorderly development for a long time before the "13th Five-Year Plan" period. Seizing the opportunity presented by the green energy advantages under the "dual carbon" goals and the emergence of new growth points in titanium material applications, the Yunnan Provincial Party Committee and Provincial Government have attached great importance to the cultivation of the new materials industry, taking multiple measures to promote the transformation and upgrading of the titanium industry. A group of leading enterprises are driving the rebirth of the "Titanium Valley" in central Yunnan, aiming to expand, strengthen, and optimize the titanium industry. Under the leadership of LB Group, LB Lufeng Titanium Industry Co., Ltd. has carried out a series of technological transformations and innovations: innovating the feeding system to address issues of feeding stability and precise measurement; optimizing the refined control of the cyclone system to solve the long-standing problem of cyclone blockages that affected the continuous and stable operation of the system within the industry; and improving the process control parameters of the oxidation reaction to stabilize the quality of titanium dioxide base materials. Alongside the technological transformations for production resumption, the company has delved deep into the coupled mode of two chlorination processes, addressing not only the environmental protection issues related to wastewater treatment in titanium dioxide production but also significantly reducing the alkali consumption for treating the off-gas from the chlorination of titanium sponge in molten salt, saving over 10 million yuan annually and achieving a "1+1>2" complementary advantage between the two processes. At the LB Yunnan base, a centralized digital control system has integrated the scattered control systems from various workshops into a control building, enabling "interlocked" remote control and setting reasonable parameter values and operating procedures, allowing employees to easily control production. According to a relevant official from the Yunnan Provincial Department of Industry and Information Technology, as of 2023, there are over 20 innovative enterprises in the central Yunnan titanium industry, including 7 technology-based small and medium-sized enterprises, 5 high-tech enterprises, 2 provincial-level and above specialized and sophisticated "little giant" enterprises, and 1 national-level technological innovation demonstration enterprise. The number of effective invention patents per 100 million yuan of main business income for industrial enterprises above designated size has reached 1.27, 65% higher than the national average. Industry insiders have stated that Yunnan's titanium industry fully leverages its advantageous conditions, including resource advantages, complete industry chain advantages, industry-university-research collaboration advantages, and geographical advantages. Through rational layout and emphasis on key areas, it has formed a titanium industry cluster with upstream-downstream integration and industry-university-research collaboration, accelerating the R&D, production, and application promotion of titanium materials in fields such as aerospace, marine vessels, metallurgical and chemical engineering, military equipment, and civilian products, aiming to achieve rapid and comprehensive development of Yunnan's titanium industry. To address the shortage of high-end technical talents, in 2024, the Lufeng Municipal Government, in collaboration with Kunming University of Science and Technology, will jointly establish a Modern Industry College for Green Titanium and a Titanium Industry Research Institute, providing strong technical support for talent cultivation, industry-education integration, integration of science and education, industry-university-research collaborative innovation, and industrial technology breakthroughs in the regional titanium industry. According to relevant personnel from the Chuxiong Prefecture Bureau of Industry and Information Technology, in 2025, Chuxiong Prefecture will promote the "green electricity + advanced manufacturing" model across the entire industrial chain, fostering advantageous industrial clusters such as green titanium. Focusing on the entire chain of "resources - smelting - intensive and deep processing," it will accelerate the construction of seven projects aimed at complementing, extending, and strengthening the titanium industry chain, including the boiling chlorination raw material project, the Zhongzhou Carbon Materials project, and the Dongkai Vanadium-Scandium Resources Comprehensive Utilisation project. Additionally, centering on the intensive and deep processing of 80,000 mt of titanium sponge by LB Group and Guotai Metal Company, it will expedite the cooperation between Yunnan Titanium Industry Co., Ltd. and Yunnan Precious Metals Group to develop high-end titanium alloys and composite materials, thereby expanding enterprise products into fields such as aerospace, military industry, medical treatment, electricity, chemicals, and water treatment.

On May 20, Kim Seong-beom, Executive Director of Daesung Corporation in South Korea, visited Luoyang Copper Processing Co., Ltd. to conduct a survey and exchange views on deepening cooperation in the copper processing sector. Cao Qiwen, Secretary of the Party Committee, Chairman, and General Manager of Luoyang Copper Processing, Deputy General Manager Zhao Jing, and relevant business leaders participated in the discussion. Both sides engaged in in-depth discussions on topics such as collaborative enterprise development, technological innovation, and market cooperation. Daesung Corporation's business covers basic materials, high-end manufacturing, and emerging technology sectors, enhancing its global competitiveness through technological R&D and international cooperation. During the discussion, Cao Qiwen welcomed Kim Seong-beom and his delegation and provided a detailed introduction to Luoyang Copper Processing's historical evolution, industrial layout, technological advantages, and core products. He hoped that both sides would take this exchange as an opportunity to deepen cooperation with Daesung Corporation in technological R&D, industry chain collaboration, and international market expansion, jointly promoting industry development. Kim Seong-beom introduced Daesung Corporation's business areas and development strategies. He stated that Daesung has long focused on the application of high-end materials and has established stable cooperative relationships with many renowned global enterprises. Luoyang Copper Processing's strengths in technological R&D and manufacturing were impressive, and there was broad potential for cooperation between the two sides. He looked forward to further integrating resources to achieve mutual benefits and win-win results in areas such as material supply, technological exchange, and market sharing in the future. During the visit, Kim Seong-beom and his delegation toured Luoyang Copper Processing's product exhibition hall and production site, giving high praise to the company's advanced technological level, strict quality control, and green production philosophy. This survey not only deepened mutual trust between the two sides but also injected new momentum into cooperation between Chinese and South Korean enterprises in the copper processing sector. In the future, both sides will further strengthen communication, refine cooperation plans, and jointly write a new chapter in international development.

The 2025 SMM (3rd) Wire and Cable Industry Development Conference & Wire and Cable Industry Exhibition concluded successfully! SMM reported on May 26: Metal Market: Overnight, domestic metals generally rose, with only SHFE lead and SHFE nickel declining together. SHFE nickel fell by 0.22%, and SHFE lead by 0.06%. SHFE zinc led the gains with a significant increase of 2.03%, while other metals saw increases within 1%. The main alumina futures contract fell by 3.26%, recording a four-day losing streak. The ferrous metals series collectively declined, with iron ore falling by 0.77% and HRC by 0.67%. In the coking coal and coke segment, coking coal fell by 0.75%, and coke by 1.09%. In the overseas market, the LME metal market was closed for the day due to the Spring Bank Holiday. Precious Metals: As of the overnight close, COMEX gold fell by 0.7%, while COMEX silver rose by 0.11%. Domestically, SHFE gold fell by 0.23%, and SHFE silver rose by 0.29%. Overnight closing market conditions as of 8:16 AM on May 27 》Click to view SMM Futures Data Dashboard Macro Front Domestic Developments: The General Office of the CPC Central Committee and the General Office of the State Council issued opinions on improving the modern enterprise system with Chinese characteristics. The opinions comprehensively and systematically outline measures in areas such as upholding and strengthening the Party's leadership, improving corporate governance structures, enhancing scientific management levels of enterprises, strengthening incentive and innovation systems for enterprises, establishing and improving corporate social responsibility and corporate culture systems, and optimizing comprehensive supervision and service systems for enterprises. The focus is on empowering enterprise development through institutional innovation, further releasing the vitality of micro-entities, and cultivating more dynamic, resilient, and competitive modern enterprises, providing strong support for comprehensively advancing the construction of a strong country and national rejuvenation through Chinese-style modernization. The Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) held an expanded meeting on May 26, mentioning the need to accelerate the cultivation of pioneering enterprises, leading enterprises, and unicorn enterprises. Efforts should be made to greatly enhance the resilience and security of industrial and supply chains, strengthen the construction of computing power infrastructure, deepen the co-chain initiative for the integrated development of industrial chains, and accelerate the formation of strategic safeguard capabilities in areas such as manufacturing equipment, basic materials, and key parts and components. Cui Dongshu, Secretary General of the China Passenger Car Association, wrote that global auto sales reached 7.56 million units in April 2025, up 5% YoY. From January to April 2025, China accounted for 33% of global auto sales, with the lower share of Chinese automakers at the beginning of the year being a normal reflection of the Chinese New Year factor. As the effects of policy stimuli become evident, the Chinese auto market has strengthened since March-April. US Dollar: The US dollar index fell by 0.12% overnight, closing at 98.98. It fell to as low as 98.69 during the session, hitting a new low since April 22. US Fed Governor Christopher Waller recently warned that the current fiscal trend is "simply unsustainable." The bond market has responded accordingly, with long-term Treasury yields breaking through the 5.0% mark, clearly indicating that investors are demanding higher compensation to address perceived US credit risks. The market currently expects mild easing, but the conditional nature of these expectations reflects market skepticism about Washington's ability to effectively coordinate policies. Rising tariffs could simultaneously push up prices and weaken economic growth, a stagflation risk that will limit the Fed's flexibility, despite the current federal funds target rate range of 4.25%-4.50%. In other currencies: The euro hit a one-month high against the US dollar on Monday after US President Trump abandoned his threat to impose 50% tariffs on EU goods starting June 1, with the EU requesting time to "reach a good deal." The US dollar continued to fall against multiple currencies, as Trump's major policy U-turn and the comprehensive spending and tax cut bills he is currently pushing have deterred investors from US assets. Ray Attrill, head of foreign exchange research at National Australia Bank (NAB), said, "The 'sell the US' theme that dominated the market in April has re-emerged. The market may have formed a judgment—and it may be correct—that tariffs between the US and the EU will not ultimately reach 50%, but how this outcome will be achieved is, frankly, anyone's guess at this point." The euro climbed 0.55% earlier against the US dollar to reach $1.1418, the first time since April 29. The euro closed up 0.2% on Monday, closing at $1.1386, with a year-to-date gain of 10%. Over the past few months, the US dollar's decline has largely benefited the euro, as investors have turned their attention to a range of non-US markets. European Central Bank President Christine Lagarde said on Monday that if member governments can strengthen the eurozone's financial and security architecture, the euro could become a viable substitute for the US dollar, bringing significant benefits to the eurozone. In terms of data: Today, data such as China's year-on-year profit growth rate for industrial enterprises above designated size in April (single month), the initial estimate of the month-on-month change in US durable goods orders for April, the US Conference Board's consumer confidence index for May, the eurozone's economic sentiment index for May, the eurozone's industrial sentiment index for May, the final estimate of the eurozone's consumer confidence index for May, Germany's Gfk consumer confidence index for June, the UK's CBI retail sales balance for May, and Australia's ANZ consumer confidence index for the week ending May 25 will be released. Crude oil: Oil prices fluctuated in the two markets overnight, with Brent crude falling by 0.05% and WTI crude closing at $61.53 per barrel. The market is waiting for clarity on OPEC+'s next move. The US market was closed on Monday for the Memorial Day holiday, resulting in sluggish trading. According to RIA Novosti, Russian Deputy Prime Minister Alexander Novak said on Monday that OPEC+ had not yet discussed increasing production by an additional 411,000 barrels per day. Rory Johnston, founder of Commodity Context and a Toronto-based analyst, said that investors and traders are still expecting OPEC to increase production, but they are reluctant to make significant moves until there is substantive progress. Johnston pointed out that despite the original production increase plan taking effect, OPEC's oil production still declined slightly in April, making the overall market more hesitant. "The market's current reaction to them is to wait for any (substantive) action," he said. (Wenhua Comprehensive)

[Minmetals New Energy: Provides cathode materials and solutions in fields such as power batteries/ESS batteries] Recently, Minmetals New Energy stated on the investor interaction platform that the company focuses on the research, production, and sales of efficient battery materials, and possesses a complete product system for lithium battery multi-component material precursors and cathode materials, as well as LFP cathode materials. In line with national strategic guidance, industry customer demands, and enterprise development needs, the company provides high-performance and cost-effective battery cathode materials and technical solutions in fields such as NEV power batteries, 3C digital batteries, and ESS batteries.

Guo Mingqun, Chairman of the Board and Secretary of the Party Committee of State Grid Tianjin Electric Power Company, along with his delegation, visited Rockcheck Group for a survey. They engaged in precise discussions on assisting with reducing energy costs and strengthening power supply guarantees, and held talks with Zhang Ronghua, Chairman of the Board of Rockcheck Group. On behalf of State Grid Tianjin Electric Power Company, Guo Mingqun congratulated Rockcheck Group on its achievements in green development and other areas. He stated that Rockcheck Group is an important private enterprise in the city, and providing reliable power supply services is the company's unshirkable responsibility. State Grid Tianjin Electric Power Company will strengthen research and actively promote the formulation of electricity price policies that meet the future development needs of the region, effectively helping enterprises reduce electricity costs. The company will fully leverage its advantages to provide reliable power supply and quality services for enterprise development, while assisting Rockcheck Group in accessing more high-quality green electricity resources to meet the company's green development needs. He hoped that both parties would continue to deepen cooperation, jointly create a benchmark demonstration for green development in the steel industry, and fully support the implementation of the "dual carbon" goals. Zhang Ronghua welcomed Guo Mingqun and his delegation and sincerely thanked State Grid Tianjin Electric Power Company for its long-term assistance and support. She stated that Rockcheck Group adheres to a green development strategy and is committed to creating core products such as "zero-carbon" emission steel, leading the green transformation of the steel industry. She hoped that State Grid Tianjin Electric Power Company would continue to care for and support the company's development, strengthening exchanges and cooperation in areas such as ESS project construction and green electricity trading. Through in-depth collaboration and innovative linkage, they would further enhance the core competitiveness of products, accelerate the company's green manufacturing transformation, create a hydrogen energy development hub, build a symbiotic and win-win industrial ecosystem chain, and support the region's green and high-quality development. During the visit, Guo Mingqun and his delegation conducted an on-site survey of Rockcheck's 5G+ Smart Factory and the Fisheries-Photovoltaic Complementary Hydrogen Production Integration Project, gaining a detailed understanding of the company's actual needs, suggestions, and opinions regarding power supply service guarantees, energy conservation, cost reduction, and efficiency improvement. Relevant leaders from State Grid Tianjin Electric Power Company, as well as leaders from Rockcheck Group, including Chai Shuman and Chen Feng, and relevant responsible persons, participated in the event.