南戈壁2025年年报

2025 410153264132192268 Southgobi SandsLLC 2025202470.40202553.4924%20252025202413%8%202433%202539% 1,66363%1,12060%621% 1,663202516%2023 2025883200920222723 900WFBFWF7011901422878237053% 1,10920253,22634%7,84014% 20251,12060%621%2023 202534% JD Zhixing Fund L.P. -- SGS20251 10SGS(Tax Dispute Resolution Council)TDRCTDRCSGS8,0002,650 202584720247973286%2025SGS10010SGS 202570113,031 98,000 58 20263 27 3920229 820242 220229 820242 2 5420235 1520236 20 15202120232018202120162018 2015320229201120122015 20092016 200720102015 JD Dingxing Limited92.8%JD Zhixing Fund L.P.JD Zhixing Fund L.P.28.87% 37202212 620232 1720235 25 68202212 6 199840 20214202322020102022120152020 2017 15.61% 20112014 6420175 1620246 27 5020235 17 20201812002 30Vatukoula Gold Mines Ltd.CGG.TP2099.HKTri-River Ventures Inc.TSX-VTVR.HSpur Ventures Inc.(TSX-VAtlantic Gold Corp.St. Babara Limited)199520062003200620112017Process Research AssociatesBureauVeritas19921995TeckResources1990199219821985 19962018 199419901982 6320158 6 6120246 27 Kresta Holdings Ltd. 201892018520255 (ACCA UK)(CICPA)(CA ANZ) 40Atlantis InvestmentManagement Limited2020920227201612017520061220141216060 Allison Snetsinger Allison Snetsinger572014112012520143Snetsinger200312Snetsinger Snetsinger25Association of the Governance Professionals(Canada) 202512 31 34202512 31 4 64129 198 19 202512 31296,704,66629200 202512 31 202512 31200 202614.12026 (9)2026(9)(i)(ii)(iii) 10 2026 34 202512 31571XV 1.2.3.202512 31296,704,6664.JD Dingxing LimitedJD Zhixing Fund L.P.JDZFJD Dingxing Limited92.8%5.202512 31JDZF85,714,19425,000151,289,5336.46,358,9787. 202512 31 200320227202220234TSX-V (10) 2022(10%) (a)(10%)(b)(10%)(c)(5%) (5%) 0.001% 30.1 (i)(ii)12 2022 •(10%)•(10%)•5%•2%•122% (a)33%(b)66%(c)100% (100%)TSX-V 1.(a)33%(b)66%(c)100% 2. 30 30.3 2025202512 312,2970.00077% 12 10%50%500,000 331630930123190 90 2,297 30.3 202512 318471,76020241,500 202512 315% (1) (3)202512 31296,704,666 (7)202512 31Voyage Wisdom LimitedVoyage Wisdom Limited8.68%Voyage Wisdom Limited45% 202512 31 54 5%5%30,000 13 30 13 TSX-V500,00010015010%100,00055.46%202512 3125% 12%36% 17% 41% 5% 578,0662024853,273 132189www.southgobi.com 3414A14AJDZF JDZF20225JDZF25,000200911 1920194 2314A 9297202211 1120233262023830202310132023111720241192024319202443020245132024829202532020263 23 14A14A –JDZF(i)(ii) 20262026 20263 27 4050 •••••••The Way We Work••••••• ••• C1202512 31 •2C.2201711•2F.1.320256 262025 2C.2.7(4)(1) (www.southgobi.com) 20th floor250 Howe Street, Vancouver, British Columbia, Canada V6C 3R8+1 604-762-6783+852 2156 1438corporate@southgobi.com CSACSACSA (i)(ii)(iii)(iv) (8)(3)37.5%(8)(5) (3)(2)(3) 20263 27JDZF28.87%15.61% 1014 20235 15 1.JDZFJDZFJDZF25,000JDZFJDZF 2. 3.Novel Sunrise BCBCA BCBCA (1) 1)2Southgobi Sands LLC (a)(b)(c)(d) •••••• (3) 2B.3 (a)(b) • •••••• •••••A.2.1•••The WayWe Work• •••GEM•• (i)(ii)(iii)(iv) •E.1.2(c)(ii)•••••••17 Southgobi Sands LLC • • • • 202520256 26 202620266 252026202620 (5)90%2025 202512 31(6) 2026(3)1014 3.09D (5) 202511 2025 The Way We Work The Way We WorkThe Way We Work The Way We Work20th floor250 Howe Street, Vancouver, British Columbia,Canada V6C 3R8+1 604-762-6783+852 2156 1438corporate@southgobi.com 20252025 20th floor250 Howe Street, Vancouver, British Columbia, Canada V6C 3R8+1 604-762-6783+852 2156 1438corporate@southgobi.com 2014320171120223 30%202512 3130%202512 3130% 202512 3187%13% 20158 620229 8 20159 1201512 1420166 30 (2)(6)25%13%20263 27 20th floor250Howe Street, Vancouver, British Columbia, Canada V6C 3R8+1 604-762-6783+852 2156 1438corporate@southgobi.com • • • •• 20242024 49 BCBCA BCBCA • •BCBCA B.2.3(9) 20158 6(9) 20175 162026(9) 202512 3118 C3 (a)(b)(i)(Canadian Securities Administrators)System for Electronic Disclosure by Insiders(www.sedi.ca)(ii) (a)(b) Roger Gurr & AssociatesRoger Gurr 10,000 20251120259 110,000 1,500(4)2,000 2025 13 D2 202512 31NI 52-109 Treadway CommissionCommittee of Sponsoring Organizations2013202512 31 20191113 675,000 (1)2025(i)(ii)(iii)(iv) 202612 31 202512 3122,720202412 314,980202512 3133,700202412 3122,810 202512 3121,8202,3301,110 20263 27 202512 3112(a)2026 3 232026320263(b)(c)-202512 3112 Allison Snetsinger20125Snetsinger200312Snetsinger Snetsinger25Association of the Governance ProfessionalsSnetsinger3.2915 20211 1201122018 103.2915 BCBCA 1/20(5%) •1,000••• (SouthGobi Resources Ltd.) 20th floor250 Howe Street, Vancouver,British Columbia, Canada V6C 3R8 (4)(BCBCA211/40(2.5%) (4) (2)(5%) BCBCA(6) (SouthGobiResources Ltd.) 20th floor250 Howe Street, Vancouver, British Columbia, Canada V6C 3R8+1 604-762-6783+852 2156 1438corporate@southgobi.com (2) (i)(1%)(ii)2,000200 (3) 20227 22 Allison Snetsinger20263 27 8,057 • • •JD Zhixing Fund L.P.JDZF2026320252,6501,900 •SGS •2026 • • • • • • • • • •2026