[East Money Nonferrous & Building Materials * Li Miao / Wang Pianpian] Gaozheng Minbao: A Definitive Tibet Copper Mine Target 0728

English summary

# A definitive Tibet copper mine target. Since our survey of the Tibet region in late June, we have been continuously highlighting the investment opportunity in [Gaozheng Minbao] during July roadshows. Taking this change in controlling shareholder as an opportunity, we believe the company's transformation certainty is extremely high, as evidenced by the proposed name change to 'Tibet Geological and Mineral Development Co., Ltd.' It is expected to become a new Tibet copper mine target, with extremely high odds at current levels. # The Geological and Mineral Group is a new product of the Tibet geological and mineral system reform. The Geological and Mineral Group, formerly Tibet Shengyuan, mainly holds minority stakes in Julong Copper (3%) and Duolong Copper (30%). In December 2025, the Tibet Autonomous Region reformed the entire geological and mineral system, integrating all its geological teams into the Geological and Mineral Group. Since then, the Group is expected to hold 200-300 exploration permits, likely including super-large copper projects. # Mining services high growth, resources high prospects. The company's main business will be adjusted into two major segments: mining investment and development, and civilian explosive production and sales services. ...