New stock news | Zhixiang Mining submits application to list on Hong Kong Stock Exchange Main Board. Average annual production of zinc concentrate ranks second in Tibet.

According to the disclosure by the Hong Kong Stock Exchange on April 17th, Tibet Smart Mining Co., Ltd. (hereinafter referred to as "Smart Mining") submitted an application to the Hong Kong Stock Exchange Main Board, with Sinolink (Hong Kong) and Mysteel Capital as its joint sponsors. According to the prospectus, Smart Mining is a mining company that focuses on the exploration, mining, production, and sales of zinc, lead, and copper in Tibet, China. According to data from the Shanghai Nonferrous Network, the company ranks second, third, and fifth in Tibet in terms of average annual production of zinc concentrate, lead concentrate, and copper concentrate from 2022 to 2024. The mining operation is located in Renduo Township, Jiali County, Nagqu City, Tibet. The company's Monya A Mine mainly consists of an open-pit mine that has been in commercial operation since 2007 and an underground mining project under development. The underground mine is expected to enter commercial operation in the second half of 2025. The company's mining operations are located within the national designated Jinda Integrated Exploration Area, at altitudes between 5,000.0 meters and 5,300.0 meters, where rich mineral resources have been discovered. The company holds exploration rights covering an area of approximately 58.5 square kilometers and mining rights covering an area of approximately 4.5 square kilometers. As a mining company in Tibet, the company believes it needs to continue using localized operating methods, taking into full consideration the unique geological conditions and specific policies of Tibet, to ensure that its business can adapt to local conditions and achieve sustainable development and success. As of December 31, 2024, the total ore reserves at the open-pit mine were 1,548.0 thousand tons, with average grades of 4.89% zinc, 0.65% lead, 0.10% copper, and 9.62 grams per tonne of silver; and the total ore reserves at the company's underground mining project were 10,626.0 thousand tons, with average grades of 4.15% zinc, 2.99% lead, 0.21% copper, and 35.05 grams per tonne of silver. Once the underground mining project is completed, the Monya A Mine is expected to supply a total of 400.0 thousand tons of ore annually to the beneficiation plant for concentrate production. The company has a business operation chain covering exploration, mining, concentrate production, and sales. The main products include zinc concentrate, lead concentrate, and copper concentrate. The company's revenue comes from selling these concentrates to customers, including non-ferrous metal traders (who sell the concentrates to end users) and smelters (who further beneficiate the concentrates according to customer demand). In terms of finance, the revenue of Smart Mining was approximately 482 million yuan, 546 million yuan, and 301 million yuan in 2022, 2023, and 2024, respectively. During the same period, the company's attributable net profit and comprehensive income totaled approximately 118 million yuan, 155 million yuan, and 55.85 million yuan.