Shandong Jinling Mining Co., Ltd.

Shandong Jinling Mining Co., Ltd. is a Chinese company engaged in the black metal mining and processing industry, primarily focusing on iron ore mining. Established in 1948 and listed on the Shenzhen Stock Exchange in 1996, the company specializes in the production and sales of iron concentrate powder and pellet ore, along with mechanical processing and sales. Its wholly-owned subsidiary, Jinzhao Mining, is dedicated to iron ore mining and sales, while the holding subsidiary, Kashgar Pellet Ore, focuses on the production and processing of pellet ore. The company's main products, iron concentrate powder and pellet ore, are primarily sold to black smelting enterprises and major steel mills, with iron concentrate powder being a favored raw material due to its high grade and low impurity content. Jinling Mining operates a complete industrial chain from mining to beneficiation processing and product sales, which enhances its market competitiveness. The company has also obtained exploration rights for iron ore in the Dazhang area, indicating potential for future resource development. With a strong management team and integrated operations, Jinling Mining aims to optimize production processes and improve capacity utilization.

(1) High Product Quality Jinling Mining's core product - iron concentrate - has won the only "Gold Medal" among similar products in the country for its outstanding quality, making it a favored raw material for steel mills. The iron concentrate has a high grade, low content of harmful elements, stable quality, strong market competitiveness, and a smooth sales channel. (2) Great Potential for Exploration and Mining The company has obtained the exploration rights for the Dazhang area iron ore in Qihe County, Shandong Province, marking the project's entry into a new stage of systematic exploration and development. The exploration rights cover an area of 21.3 square kilometers and are located in the Qihe-Yucheng rich iron ore key exploration area. The rich iron ore resources in this area are rare high-grade rich iron ore in China, featuring a wide distribution area, large ore body thickness, high ore grade, and good prospecting potential. (3) Technological and Management Advantages Since its establishment in 1948, the company has developed over the years and successfully listed on the Shenzhen Stock Exchange through a major asset reorganization in 2006. The company has wholly-owned subsidiaries Jinzhao Mining and Jingang Mining, and holds controlling stakes in Kashgar Pelletizing and shares in Jinding Mining and Shandong Steel Finance Company. With over 70 years of experience in the iron ore business, the company has mature industry technology and a profound corporate culture. The management team has rich industry experience and management capabilities in the mining sector, accurately grasping market trends and industry development directions. Additionally, the company's technical team has deep professional knowledge and practical experience in geological exploration, mining engineering, and mineral processing technology, providing strong impetus for the company's high-quality development. (4) Integrated Industrial Chain Advantage The company has built a complete industrial chain from mining, beneficiation processing to mineral product sales, forming a full-process production capacity from iron ore mining to iron concentrate and pellet production. This integrated industrial chain layout can effectively reduce production costs, increase product value, and enhance market competitiveness. Moreover, through internal asset integration, the company has achieved an integrated supply, production, and sales system, continuously optimizing production processes and improving capacity utilization. (5) Financial Advantage As of the end of the first half of 2025, the company's cash balance was 1.854 billion yuan, with a debt-to-asset ratio of 13.62%. At the same time, the company maintains good cooperative relationships with banks and other financial institutions, possessing strong financing capabilities. Additionally, with the endorsement of the state-owned controlling shareholder, the company's public market credit rating has been continuously improving, further expanding financing channels and scale. As a listed company, the company has good asset quality and a sound corporate governance structure, meeting the conditions for refinancing. In the future, the company will open up more financing channels based on business development needs through various means, providing strong support for the continuous expansion of external resources.