Ningbo Jintian Copper (Group) Co., Ltd. invested in and constructed in Vietnam a high-precision copper busbar production project for liquid cooling heat dissipation and rack busbar applications, with an annual output of 30,000 mt.

On June 17, 2025, it was reported that according to information from the China National Intellectual Property Administration, Ningbo Jintian Copper (Group) Co., Ltd. obtained a patent titled "A Copper Alloy Bar and Its Preparation Method," with the authorization announcement number CN116179889B and an application date of January 2023. By adding Si, Ni, Mn, and Fe to the copper matrix and controlling their amounts, an average grain size of 0.015 to 0.01 mm was achieved. Through solution strengthening and aging strengthening, the copper alloy ultimately achieved a tensile strength of ≥650 MPa, a high-temperature softening resistance temperature of ≥650°C, a friction coefficient of 0.12 to 0.15, a corrosion weight loss of ≤1.2 mg/cm², and a fatigue strength of ≥360 MPa. While meeting the mechanical property requirements for bearing cages, it also exhibits good cold workability and can withstand complex stamping deformation.

On June 17, 2025, it was reported that according to information from the China National Intellectual Property Administration, Ningbo Jintian Copper (Group) Co., Ltd. obtained a patent titled "A Copper Alloy Bar and Its Preparation Method," with the authorization announcement number CN116179889B and an application date of January 2023. By adding Si, Ni, Mn, and Fe to the copper matrix and controlling their amounts, an average grain size of 0.015 to 0.01 mm was achieved. Through solid solution strengthening and aging strengthening, the copper alloy ultimately achieved a tensile strength of ≥650 MPa, a high-temperature softening resistance temperature of ≥650°C, a friction coefficient of 0.12 to 0.15, a corrosion weight loss of ≤1.2 mg/cm², and a fatigue strength of ≥360 MPa. While meeting the mechanical property requirements for bearing cages, it also exhibits good cold workability and can withstand complex stamping deformation.

Rare earth permanent magnet concept stocks have been repeatedly active. As of Friday's close, BGRIMM Technology, which focuses on the R&D, production, sales, and services of mining and metallurgical equipment as well as magnetic materials, achieved five consecutive daily limit-ups. Huayang New Materials, whose subsidiary's business scope includes the recycling and utilization of high-magnetic rare earth materials, recorded three consecutive daily limit-ups. On the news front, the Ministry of Commerce stated that it reviews export license applications for rare earth-related items in accordance with laws and regulations, has approved a certain number of compliant applications, and will continue to strengthen the approval process for compliant applications. Ma Yan, an analyst at Caida Securities, pointed out in a research report on April 1 that assuming shipments of humanoid robots reach 890,000 units by 2030, the demand for rare earth permanent magnet materials in the humanoid robot sector is projected to reach 3,115 mt. The explosive growth in the market size of humanoid robots is expected to bring broad incremental space to the rare earth permanent magnet industry . Li Chao and Wang Qinyang, analysts at Guojin Securities, pointed out in a research report on February 20 that rare earth permanent magnets, as excellent magnets that currently balance performance and cost, are the top choice for magnetic components in humanoid robots and magnetic materials for low-altitude aircraft , and the dividends from industry chain integration are expected to gradually materialize. Emphasis should be placed on the layout opportunities brought about by "supply-side reform," integration, and the catalyzing effect of humanoid robots. Choice data shows that rare earth permanent magnet concept stocks that received institutional surveys in the past two months (April 14 - June 14) include Sinomine Resource Group, Shenghe Resources, JL MAG Rare-Earth, Xiamen Tungsten, Yahua Group, Zhenghai Magnetic Material, DMEGC, Lizhong Group, Zhongju Hi-Tech, Zhong Ke San Huan, Longi Magnet, China Northern Rare Earth, Xinlaifu, China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd., Goldwind Science&Technology, Instyle, GEM, Wuchan Zhongda Group, NCS Testing Technology Co., Ltd., Jintian Copper, Yian Technology, Advanced Powder Materials, and Sinosteel NMC . The specific situations are as follows: Among the above-mentioned rare earth permanent magnet concept stocks that received institutional surveys, publicly listed firms that have clearly responded regarding their "rare earth permanent magnet" related business situations mainly include Shenghe Resources, JL MAG Rare-Earth, Xiamen Tungsten, Zhenghai Magnetic Material, Zhong Ke San Huan, Longi Magnet, China Northern Rare Earth, Instyle, GEM, and Jintian Copper . Shenghe Resources disclosed an investor relations activity record on June 10, stating that the company maintains a close and good market cooperation relationship with major domestic rare earth concentrate suppliers . In addition, the company has signed long-term supply agreements for rare earth concentrates with Sichuan Hedi Mining, US MP Materials, Peak Rare Earths, and others, establishing a diversified supply channel for rare earth concentrates and providing sufficient raw material guarantees for the company's downstream businesses such as rare earth smelting and separation. Additionally, the imports of ore from Myanmar have been significantly influenced by the local situation, exhibiting fluctuating characteristics. The company will continue to closely monitor the situation of ore from Myanmar. During a survey conducted by institutions on June 13, JL MAG Rare-Earth stated that after the implementation of export control measures on medium-heavy rare earth-related items, the company had initiated export declaration work in accordance with relevant national regulations. It had also successively obtained export licenses issued by national authorities. The export regions include the US, Europe, and Southeast Asia, among others. The company exports magnetic materials, components, and motor rotors in compliance with laws and regulations. The company has established production facilities in Ganzhou, Jiangxi, a major production area for heavy rare earths, and in Baotou, Inner Mongolia, a major production area for light rare earths. The company has established long-term strategic cooperative relationships with major suppliers of rare earth raw materials, including China Northern Rare Earth Group and China Rare Earth Group. In 2024, the procurement amount from these two groups accounted for 63% of the company's total annual procurement. On May 21, Xiamen Tungsten disclosed the record of investor relations activities, indicating that since the second half of 2024, rare earth prices have generally shown a steady upward trend. If this trend continues, the price center of rare earths will gradually rise, and the fluctuation range will narrow compared to the past. In terms of magnetic material capacity layout, Jinlong Rare Earth has achieved an annual production capacity of 12,000 mt at its Changting base and is currently planning new capacity projects at its Changting and Baotou bases. Upon full commissioning of these two projects, Jinlong Rare Earth's magnetic material capacity will reach 22,000 mt. At the performance briefing on May 15, Zhenghai Magnetic Material, when answering the question "What rare earth permanent magnet projects are currently under construction?", stated that the construction of the third phase of 6,000 mt capacity at the company's Nantong base will adjust the investment pace and method in a timely manner based on changes in the external economic environment. The company's sales of high-performance NdFeB permanent magnet materials have achieved seven consecutive years of growth. During a survey conducted by institutions on May 23, Zhong Ke San Huan stated that the current export control measures on medium-heavy rare earth-related items mainly involve the company's NdFeB permanent magnet material products containing dysprosium and terbium. Exporting these products requires declaration and approval before they can be exported. The company has proactively taken measures to initiate export declarations in accordance with relevant regulations at the earliest opportunity, and has already obtained export licenses for a small number of orders. The company's main products are NdFeB permanent magnet materials, which are currently widely used in automobiles (including NEVs), consumer electronics, industrial robots, computers, energy-efficient home appliances, wind power, industrial motors, and other fields. Longi Magnet disclosed the record of investor relations activities on May 27, stating that building a capacity of 60,000 mt for permanent ferrite magnetic tiles has always been a medium and long-term goal . The company will make more optimizations in capacity layout integration, existing capacity utilization, and efficiency improvement, striving to increase capacity through low-cost expansion methods and controlling the pace of capacity release based on downstream demand. The technological transformation and upgrading work at the production sites in Lujiang, Jinzhai, and Vietnam have all shown initial results, and the expected capacity this year will reach 50,000 mt. China Northern Rare Earth stated during an institutional survey on May 21 that the company holds an optimistic view on the future price trend of rare earths . Currently, the upstream supply of rare earths is showing a steady growth trend, thanks to the country's scientific planning and rational development of rare earth resources, as well as the continuous progress in rare earth mining technology. Although the release speed of downstream consumer demand has not met expectations to a certain extent, the fluctuation range of mainstream product prices has significantly narrowed, indicating that the supply-demand relationship is gradually moving towards balance. This balance not only helps stabilize market expectations but also provides a solid foundation for the healthy development of the rare earth industry. On the demand side, the continuous growth in demand for rare earth products in fields such as new energy and high-tech has become a strong driving force for the development of the rare earth industry. During an institutional survey on June 12, Instyle stated that the company's products are mainly delivered through domestic bonded zones and domestic sales channels, and do not involve direct exports to the United States. Export control measures affect businesses involving products containing medium-heavy rare earths dysprosium and terbium, and the company has been handling relevant procedures in compliance with national laws, regulations, and customer order requirements . The company's core competitive advantages mainly lie in its advantages in magnetic circuit design and production manufacturing processes, its advantages in high-quality customer resources, and its advantages in having the origin of rare earths and lower electricity costs in Baotou. GEM stated at the earnings presentation on May 6 that the company has currently conducted technological reserves in the recycling of permanent magnetic materials in the dismantling and recycling field and has reserved the wet process for recycling and synthesizing rare earth oxides. The company has been continuously monitoring the market for rare earth permanent magnets and actively developing the recycling and utilization of rare and scattered metals such as germanium, gallium, indium, and rare earths, as well as expanding the recycling of energy metals like nickel, cobalt, and lithium. Jintian Stock disclosed the record of investor relations activities on May 23, stating that the company has been engaged in the magnetic materials business since 2001. Currently, the company has two magnetic material production sites in Ningbo and Baotou . The first phase of the Baotou site has been put into operation, and the company's annual capacity for rare earth permanent magnets has increased by 4,000 mt on the original basis. The company's rare earth permanent magnet products are widely used in multiple high-end fields, including NEVs, wind power generation, high-efficiency energy-saving motors, robots, consumer electronics, and medical devices.

》Check SMM metal quotes, data, and market analysis 》Subscribe to view historical price trends of SMM metal spot cargo On May 14, 2025: As of April 30, 2025, all companies have disclosed their 2024 annual reports. According to SMM statistics, a total of 19 publicly listed firms operate copper smelters. These 19 publicly listed firms are: Tongling Nonferrous Metals Group (000630), Jiangxi Copper Corporation (600362), Jinchuan Group International Resources Co., Ltd. (02362.hk), Daye Nonferrous Metals Group (00661.hk), Yunnan Copper (000878), Zijin Mining (601899), Yuguang Gold and Lead Group (600531), Western Mining Co., Ltd. (601168), Yunnan Tin Co., Ltd. (000960), Shandong Humon Smelting (002237), Zhongjin Gold (600489), Baiyin Nonferrous Group Co., Ltd. (601212), Ningbo Jintian Copper (601609), Huludao Zinc Industry Co., Ltd. (000751), North Copper (000737), Zhejiang Chifoo Holding Group Co., Ltd. (002266), Guangdong Feinan Resources Co., Ltd. (301500), Beijing GEEN Environment Engineering Co., Ltd. (603588), and Shenzhen Zhongjin Lingnan Nonfemet Co., Ltd. (000060). 2024 Production and 2025 Production Plans for Copper Cathode at Each Smelter According to annual report disclosures and SMM's understanding, the total copper cathode production of the aforementioned 19 copper smelters in 2024 was 10.5558 million mt, with an increase of 642,000 mt, up 6.5% YoY. Data from the National Bureau of Statistics (NBS) shows that the national production in 2024 was 13.644 million mt, with these 19 enterprises accounting for 77.37% of China's total copper cathode production. This figure increased by 1.04% compared to the same period last year. We expect that with the release of new capacity, industry concentration will increase again in the future. Regarding the specific situations of each smelter: Only 4 out of the 19 smelters experienced production cuts. Among them, Yunnan Copper had the largest decline, with a significant drop in production due to the relocation of its headquarters smelter. The largest increase was seen at Jiangxi Copper, with an annual copper cathode production of 2.2919 million mt, up 194,600 mt or 9.3% YoY in 2024, continuing to lead the copper industry. This was followed by North Copper, with a production increase of 178,800 mt compared to 2023, reaching 31.32 mt. Then came Jinchuan Group, with a production of 1.3272 million mt, an increase of 158,100 mt compared to 2023. In addition, based on their 2025 production plans, the total production in 2025 is expected to be 11.4028 million mt, an increase of 847,000 mt or 8%. According to SMM statistics, the new production from domestic smelters from January to May 2025 has already reached 536,400 mt, and it is highly probable that the annual increase of 847,000 mt will be achieved. In 2025, two smelters are expected to increase their production by more than 200,000 mt. Among them, the largest increase is expected to be from Yunnan Copper, with an increase of 254,000 mt, mainly due to the resumption of production after the relocation of the smelter and the commissioning of new smelters. Next is Jinchuan Group, which is expected to increase its production by 252,800 mt, thanks to the commissioning of a new smelter. In addition, due to the tight supply of copper concentrates, six smelters are expected to implement production cuts in 2025, two more than last year. Overall, although copper concentrate TCs hit a record low this year, it has not hindered the expansion pace of copper smelters.

On April 22, at the CCIE 2025 SMM (20th) Copper Industry Conference & Copper Industry Expo – Electrical Power Transmission and Distribution Industry Forum, Dong Junhao, General Manager of the Market Development Department of World Copper Recycling Copper Digital Trading Center, shared his views on the topic of "Building a Copper Industry Service Ecosystem to Address Industry Pain Points" and made introduction to the business of World Copper Recycling Copper Digital Trading Center.

Amid increasing global economic downward pressure, the copper billet market faces challenges, caught in a dilemma of dual pressures from raw material supply and downstream demand.

On April 22, at the CCIE-2025SMM (20th) Copper Industry Conference and Copper Industry Expo—Electrical Transmission and Distribution Industry Forum hosted by SMM Information & Technology Co., Ltd. (SMM), Shanghai Nonferrous Metals Trading Center, and Shandong Aisi Information Technology Co., Ltd., with Jiangxi Copper Corporation and Yingtan Inland Port Holdings Co., Ltd. as the main sponsors, Shandong Humon Smelting Co., Ltd. as a special co-organizer, and Xinhuang Group and Zhongtiaoshan Nonferrous Metals Group Co., Ltd. as co-organizers , Dong Junhao, General Manager of the Market Development Department of Jiangxi Copper Digital Service Co., Ltd., shared the theme "Building a Copper Industry Service Ecosystem to Address Industry Pain Points—Introduction to the Business of the World Copper Capital Secondary Copper Trading Service Center." I. Industry Pain Points 1.1 Pain Points in the Secondary Copper Industry Secondary copper traders: Working with the anxiety of dealing in high-risk goods but earning minimal profits! 1.2 Pain Points in the Secondary Copper Industry Large price fluctuations: price risks, supply-demand mismatch, diverse demands, tariffs, and trade wars; Capital-intensive: high cargo value, large demand, financing difficulties, and high costs; Direct hedging tools: default risks, hedging needs, spot purchases, and futures contracts; Third-party platforms: quasi-public attributes, credit endorsement, fund supervision, and risk control systems. The solution—Digitalization is the trend! Commodity trading platforms are the remedy! II. Building a Copper Industry Service Ecosystem 2.1 Building a Copper Industry Service Ecosystem Thinking only identifies problems; action provides the answers! — Establishing the World Copper Capital Secondary Copper Trading Service Center in Guixi, building a copper industry service ecosystem, and creating a globally influential digital intelligence service platform for the copper industry! 2.2 Building a Copper Industry Service Ecosystem 2.3 Copper Industry Service Ecosystem ►Copper Industry Service Ecosystem 1. Trading Services: Capacity pre-sale, listing transactions, auction trading models, etc. 2. Supply Chain Financial Services: Relying on the trading platform, upstream and downstream industries, domestic and overseas warehouses, and financial institutions to build a commodity trading ecosystem and provide supply chain financial services. 3. Matchmaking Transactions: The trading platform connects supply and demand for upstream and downstream enterprises, leveraging regional, team, and platform advantages to establish efficient and extensive buyer-seller information matching and matchmaking. Additionally, it provides services in supply chain finance, overseas warehousing, customs clearance, and more. 4. Commercial Services: Offering services such as company registration agency, bookkeeping agency, and tax rebate incentives for enterprises needing registration in Hainan. 5. Technology Export: Provide co-construction platform technology and operational support to local governments and enterprises. III. Introduction to the Copper Industry Service Ecosystem Business 3.1 Business Introduction - Capacity Presale ● Certified traders on the trading platform actively list prices and quantities to sell or buy spot cargo or contracts for future delivery. Other trading members can choose quantities to buy or sell spot cargo or contracts, with the flexibility of early agreed delivery, on-the-spot contract transfer, and delivery at maturity! ● Expand corporate sales and procurement channels; reduce credit default risks through deposit transactions; flexible delivery with simultaneous spot and forward transactions; and empower supply chain finance. 3.1-1 Business Introduction - Capacity Presale ► Thirteen Delivery Brands Based on industry characteristics and the convenience of delivery brands being close to upstream and downstream clusters, brass billet varieties are mainly centered in the Zhejiang region, with six delivery enterprises. There are seven delivery enterprises for low-oxygen copper rods, covering major copper rod processing regions in North China, Southwest China, East China, and Central South China. ► Eight Delivery Warehouses To facilitate delivery for industrial clients, eight designated delivery warehouses have been certified by the Exchange, mainly at national and CMST warehouses in downstream demand areas, to meet delivery and supply chain financing business needs. 3.1-2 Business Introduction - Capacity Presale 3.2 Business Introduction - Supply Chain Finance Build a commodity trading ecosystem relying on the trading platform, upstream and downstream of the industry, domestic and foreign warehouses, and financial institutions to provide supply chain financial services. 3.2-1 Business Introduction - Supply Chain Finance Provide one-stop services, covering the entire trade process from overseas resource sourcing, overseas transportation and warehousing, maritime transportation, customs clearance, and inland transportation, to create comprehensive trade process services for partner enterprises. Connect terminal power plants with traders to address short-term funding gaps for traders due to power plant payment delays, alleviate traders' financial pressure, and ensure the cycle and normal operation of businesses. 3.3 Corporate Commerce 3.4 Business Introduction - Supply Chain Solutions Taking the platform of Jiangxi Tongdu Digital Service Co., Ltd. as a model, relying on the platform of the Exchange, and integrating with the characteristics of local industry chains, we will integrate resources and capabilities across trade, warehousing, finance, and other sectors around the upstream and downstream of the local non-ferrous metal industry chain. We will build comprehensive supply chain solutions in the local area for raw material procurement, resource sales, logistics, financing, and other businesses. 3.5 Partner Enterprises (Partial) IV. Introduction to Jiangxi Tongdu Digital Service Co., Ltd. and the Exchange 4.1 Establishment of Jiangxi Tongdu Digital Service Co., Ltd. On May 26, 2023, leaders from Guixi City, known as the "World Copper Capital," visited the Hainan International Commodity Exchange (hereinafter referred to as the Exchange) for research and exchanges. They proposed that, from the perspective of long-term industrial development and building industrial influence, with secondary copper as a feature, we should fill the gap in the copper raw material trade industry. Relying on the platform advantages of the Exchange, we will establish the World Copper Capital Secondary Copper Trading Service Center in Guixi and create a globally influential copper industry digital intelligence service platform!On June 13, 2024, Jiangxi Tongdu Digital Services Co., Ltd. (also known as the World Copper Capital Secondary Copper Trading Service Center) was inaugurated. Numerous leaders and guests from domestic and overseas industries, including China Communications Construction Group, Hainan International Commodity Exchange, leaders from Guixi City, Daye Nonferrous Metals Group, Jintian Copper Co., Ltd., Hailiang Group, Trafigura, and others, attended the inauguration ceremony. This marks a milestone in the development of the World Copper Capital Secondary Copper Trading Service Center! On December 19, 2024, the People's Government of Yingtan Guixi City, Hainan International Commodity Exchange Co., Ltd., and Jiangxi Tongdu Digital Services Co., Ltd. signed a strategic cooperation agreement in Sanya. The agreement aims to leverage the resources and policy advantages of the three parties, deepen regional development cooperation, focus on the goal of "setting an example and striving for excellence," build "three major highlands," implement "five major strategies," and unwaveringly promote high-quality development. It also introduced the shareholder structure of Jiangxi Tongdu Digital Services Co., Ltd. 4.1-2 Development Vision of Jiangxi Tongdu Digital Services Co., Ltd. Serving the Industry, Non-Standard Hedging, Digital Copper Capital: Based in Guixi and rooted in Guixi's secondary copper industry, the company aims to form a complementary development with the futures and spot trading platforms of the Shanghai Futures Exchange and the Central China Nonferrous Metals Exchange Center, creating a differentiated market supporting service system. Starting from serving the hedging needs of non-standard products and serving the real economy, it will form unique competitive advantages. Relying on the advantages of Guixi and Hainan in policies, industries, platforms, and resources, it will jointly build a secondary copper trading service center and pricing center, forming a globally influential "Digital Copper Capital" and the Guixi Index! 4.2-1 The Mission of Hainan International Commodity Exchange In line with the spirit of General Secretary Xi Jinping's important speech on April 13 and the Central Document No. 12, and with the full support and promotion of Sanya City and the Provincial Financial Bureau, the Hainan International Commodity Exchange was established as a comprehensive commodity trading venue in accordance with the planning of the "Overall Plan for the Construction of the Hainan Free Trade Port" to "promote the development of related over-the-counter derivatives businesses based on the construction of the Hainan Free Trade Port." It is a core member of Sanya's efforts to build a financial name card of "one exchange and three centers." 4.2-2 Development History of Hainan International Commodity Exchange 4.2-3 Product Categories of Hainan International Commodity Exchange Energy and Chemicals, Metals and Minerals, Agriculture, Forestry, Animal Husbandry, and Fisheries, Digital Services and Trade. 5.1 Trading Client of Hainan International Commodity Exchange Hainan International Commodity Exchange provides trading enterprises with diverse trading software, supporting functions such as capacity pre-sales, listing trading, inquiry of trading in centralized trading markets, capital inflows and outflows, capital inquiry, settlement, contract buying and selling volumes, agreement downloads, and inquiries. • Capacity Pre-sales - Trading of brass billets and low-oxygen copper rods provides downloads for PC, mobile, Boyi Master, Jinwang Android, and 10S version clients. •Fairs Business - Trading Hall on the Official Website of the China Marine Commodities Exchange. •Listing Trading - Trading Hall on the Official Website of the China Marine Commodities Exchange 》Click to view the special report on the 20th CCIE-2025SMM Copper Industry Conference & Exposition

When asked, "Copper prices have recently declined somewhat. Will this affect the company's production and operations?" Jintian Co., Ltd. responded on the investor interaction platform on April 7: The company's copper processing products adopt a pricing model of "raw material prices + processing fee," which can effectively conduct cost transmission. At the same time, the company strictly follows the "Hedging Management System" to carry out hedging operations to reduce the impact of raw material price fluctuations on the company's net profit. Currently, the fluctuation in copper prices has a relatively small impact on the company's operating performance, and the company's production and operations are normal in all aspects. Regarding "How much will the US tariff hike affect the company's product exports? What is the ratio of your product export volume to domestic sales volume?" Jintian Co., Ltd. responded on the investor interaction platform on April 7: Currently, the company's direct export sales revenue to the US accounts for a relatively small proportion, and according to the tariff exemption list, copper and several other metal materials are not subject to this reciprocal tariff policy. Overall, the US tariff hike will not have a significant adverse impact on the company's operating performance. The company will continue to monitor changes in the overseas market environment, maintain close communication with customers, actively prepare for risk responses, and steadily advance the development of various businesses. Currently, the company's production and operations are normal and orderly. For the latest sales data, please pay attention to the company's upcoming annual report. Jintian Co., Ltd. announced on the evening of April 1 that from the start date of this repurchase implementation to March 31, 2025, the company has cumulatively repurchased approximately 3.61 million shares through centralized bidding transactions, accounting for 0.24% of the company's current total share capital. The highest transaction price was 6.16 yuan per share, the lowest was 5.87 yuan per share, and the total amount of funds paid was approximately 21.77 million yuan. Jintian Co., Ltd. stated on the investor interaction platform on March 26: The company has a good customer base and technical reserves in the field of offshore engineering equipment, and some of the company's products have been applied in scenarios such as submarine cables. The company will closely monitor and follow the market demand in the field of offshore engineering equipment, further improve the product series, and enhance the competitive advantage of products. For other specific relevant information, please continue to pay attention to the periodic reports. Jintian Co., Ltd. stated on the investor interaction platform on March 14: The company has a good customer base and technical reserves in the field of artificial intelligence, and some of the company's products have been applied in the field of artificial intelligence. The company will closely monitor and follow the market demand in the field of artificial intelligence, further improve the product series, and enhance the competitive advantage of products. For other specific relevant information, please continue to pay attention to the periodic reports. Jintian Co., Ltd. stated on the investor interaction platform on November 5, 2024: The company began to lay out the magnetic materials business as early as 2001. After more than 20 years of development, it has become one of the enterprises with higher technical levels and a more comprehensive product series among domestic peers. The company's subsidiary, Ketian Magnetic Industry, was selected as a "Little Giant" enterprise in the fifth batch of specialized and sophisticated "Little Giant" enterprises by the MIIT and became one of the first batch of "Specialized and Sophisticated" enterprises in Ningbo in 2023. The company's rare earth permanent magnet products are widely used in NEVs, wind power generation, high-efficiency energy-saving motors, robots, consumer electronics, medical devices, and other fields. Currently, the first phase of the company's rare earth magnetic materials base in Baotou has been completed, which is conducive to better enhancing the scale effect and market share. Jintian Co., Ltd. previously disclosed the third quarter report of 2024, showing that the company achieved operating revenue of 91.844 billion yuan in the first three quarters, up 11.78% YoY; net profit attributable to the parent company was 288 million yuan, down 24.95% YoY; and non-GAAP net profit was 131 million yuan, down 55.93% YoY. In the stock market: On April 7, the market opened low and closed low throughout the day, with the three major indices collectively falling. The ChiNext Index fell by 12.5%, marking the largest single-day decline in history. The Shanghai Composite Index lost 3,100 points, with more than 5,200 stocks falling across the market and over 2,900 stocks hitting the daily limit down. Jintian Co., Ltd. also hit the daily limit down on April 7. As of the close on the 7th, Jintian Co., Ltd. fell by 10.05%, closing at 5.64 yuan per share.

【1.400 yuan/Wh! State Power Investment Corporation's 10MW/20MWh Integrated Smart Energy Storage Project EPC Pre-Winning Bid】 On December 28th, Zhejiang Electric Power Co., Ltd. of State Power Investment Corporation issued the 27th batch of tender (Ningbo Zero Carbon Power Plant Jintian Copper Industry Phase I 10MW/20MWh Integrated Smart Energy Storage Project EPC Engineering General Contract) tender notice for the pre-winning bid candidates. The announcement shows that: The first pre-winning candidate: Ningbo Xinsheng Medium Voltage Electrical Appliance Co., Ltd., bid price: 27.995 million yuan, unit price 1.400 yuan/Wh; The second pre-winning candidate: Hangzhou Crosslink Electrical Engineering Co., Ltd., bid price: 30.3123 million yuan, unit price 1.516 yuan/Wh.