Zheshang Research Reports point out that Jchx Mining Management (603979.SH) is a leader in the domestic mining service Industry, newly focusing on the upstream resource Sector, with mining service profitability and Copper production elasticity both superior to the Industry. The stable growth of mining services combined with the simultaneously rising volume and price of the Copper Sector suggests that the company possesses both α and β, and performance elasticity is expected. First coverage gives a "Buy" rating. The company began arranging upstream resources in 2020, forming a "mining service + resources" dual-drive model. It has successively acquired 5 upstream resource projects, distributed across 4 countries. As of September 30, 2024, the company holds mineral resource quantities of 2.49 million tons of Copper metal, 179 tons of Silver metal, 19 tons of Gold metal, and 21.4 million tons of phosphate rock (grade 31%). Additionally, the company announced in December 2024 an increase of 1.04 million tons of Copper resource quantity in the eastern area of the Lonshi Copper Mine.