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3 other tracked dossiers name this company as a counterparty in its own sourced disclosure — this platform never wrote these rows on this company's own page, they are read here inverted from the dossier that disclosed them. This is a partial view: 986 additional named-counterparty rows across the corpus could not be matched to a tracked dossier by name at all (mostly non-Latin legal names), so the true count is higher than what renders here.
Exchange-delivered physical copper — the exchange is the counterparty of record, not a single commercial end-buyer.
Entity-wide major-customer disclosure (>=10% of consolidated revenue), first time this counterparty is quantified in this dossier — the FY2025 annual report named it only in unquantified prose (see counterparty_concentration note above). Revenue from SGE: RMB 45,311,670,887 of RMB 194,178,458,630 total H1-2026 revenue. SGE is China's national physical-gold trading/settlement exchange, not an end-consumer — sales 'to' SGE are exchange-settled bullion sales, structurally different from a corporate offtake customer; do not read this as a single buyer concentration risk in the ordinary sense.
H1-2025 comparative from the same H1-2026 filing: RMB 52,464,687,342 of RMB 167,710,853,231 total H1-2025 revenue (-13.6% absolute, -7.94 pts of revenue share vs H1-2026 — SGE-settled sales grew slower than the Group's 15.78% overall H1-2026 revenue growth).
Scope. This section is inverted evidence: each linked dossier wrote the original row about itself, describing its own relationship to this company. It is never a claim this company itself disclosed. Absence here is not evidence of no relationship — most of the corpus has no named-counterparty block at all yet.
Every exposure is read as a buyer dependency; the top 3 are its binding chokepoints.
As a buyer, policy pressure across its consumed materials is coverage-limited.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.