Merci Dandy

What Merci Dandy does

Hainan Mining Co., Ltd. (海南矿业) is a Shanghai Stock Exchange-listed (601969.SH) diversified resource company operating across three core business segments: iron ore, oil and gas, and new energy materials. The company was founded in 2007 by Fosun Group and Hainan Haigang Group, listed on the Shanghai Stock Exchange in 2014, and is described as the only A-share listed company simultaneously engaged in both minerals and energy. Its iron ore operations center on the Shilu Iron Mine in Changjiang, Hainan, which produced 2.1875 million tons of finished iron ore in 2025 with block-ore gross margin sustained above 50%. The oil and gas segment operates through the controlled subsidiary Roc Oil (洛克石油), with assets in Sichuan's Bajiaochang gas field, Malaysia offshore, the South China Sea (Beibu Bay and Pearl River Estuary), and Oman. The new energy segment is anchored by the wholly-owned Mali Bougouni Lithium Mine and the Xingzhihai 20,000-ton-per-year battery-grade lithium hydroxide plant in Danzhou Yangpu, with a lithium carbonate carbonation line under development.

The company employs approximately 2,624 people as of December 31, 2025, operates a 600 sqm Smart Mine Control Center with 40 distributed seats and 6 intelligent cabs for end-to-end 3D visualization, and holds proprietary technologies including the high-slope safety monitoring and early warning system (selected for the National Advanced Applicable Technology Catalog), suspension magnetization roasting, photoelectric ore sorting, and the open-pit to underground wedge-shaped transition mining method. The 2025 financial year recorded revenue of 4.416 billion CNY and net profit of 431 million CNY, with Q1 2026 revenue of 1.193 billion CNY and net profit of 201 million CNY (up 25.13% year-over-year), and total assets of 14.6 billion CNY at year-end 2025.

The business model is commodity-based direct sales to enterprise customers: iron ore is sold to domestic steel mills via the subsidiary Hainan Mining International Trade, lithium hydroxide is supplied directly to battery cathode material manufacturers (with Nantong Ruixiang already audited as an anchor customer and active expansion into Japanese and Korean markets via the CIBF2026 exhibition), and oil and gas is sold into energy markets through Roc Oil. Strategic reserves include 59.52 million tons of iron ore, 18.86 million tons of spodumene, 18.48 million barrels of crude oil, and 9.41 million barrels of natural gas equivalent. The company is pursuing an integrated new-energy value chain strategy, with the Luoyang Fulai Fluorine Industry acquisition advancing to extend into fluorine materials.

Name

Merci Dandy

Legal name

华体会集团_华体会官方网站

Website

https://mercidandy.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1–10 employees

Short description

Hainan Mining (601969.SH) is a Shanghai-listed diversified resource company producing iron ore from the Shilu Mine, oil and gas via Roc Oil in China, Malaysia, and Oman, and battery-grade lithium hydroxide from its wholly-owned Mali Bougouni mine and Danzhou Yangpu processing plant, supplying steel mills, battery cathode manufacturers, and energy markets.

Ownership category

akta.pro rank

Product category

Diversified Mining and Energy Resources

NAICS

Iron Ore Mining (21221), Other Metal Ore Mining (21229)

SIC

Metal Mining (1000)

akta.pro primary industry

Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate) (IMAKAFAI)

akta.pro secondary industries

Exploration & Resource Development (Critical Minerals) (IMAKAFAL), Ferrous Metals Trading & Distribution (Iron Ore, Pig Iron, DRI/HBI, Ferroalloys) (IMAKAJAA)

Keywords

• Iron ore mining
• Oil and gas exploration
• Lithium hydroxide production
• Mineral resource extraction
• New energy materials

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. 铁矿石采选及贸易: 石碌铁矿从事铁矿石开采、选矿、加工及贸易，拥有石碌铁矿、混配矿业务、海矿国贸等业务单元，2025年成品矿产量218.75万吨，块矿产品毛利率持续保持50%以上。
2. 油气勘探开发及生产: 通过洛克石油从事石油天然气勘探、开发及生产，拥有川中八角场气田、马来西亚海上油气田、南海北部湾海上油田、南海珠江口海上油田、阿曼陆上油田等多个油气资产，2026年一季度权益油气产量318.65万桶当量。
3. 新能源上游产业: 通过马里布谷尼锂矿（马里）进行锂矿开采，海南星之海新材料有限公司（儋州洋浦）进行锂盐加工，年产2万吨电池级氢氧化锂项目已投产，并推进碳化线技改实现氢氧化锂+碳酸锂双产线布局。

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Merci Dandy (operating as Hainan Mining) is a diversified resource company engaged in iron ore mining, processing and trading through the Shilu Iron Mine; oil and gas exploration, development and production through the Rock Oil subsidiary (assets in Sichuan, Malaysia, Beibu Bay, Pearl River Estuary, and Oman); and new energy upstream materials including lithium mining at the Mali Bougouni Lithium Mine and battery-grade lithium hydroxide production at the Xingzhihai plant in Danzhou. The company follows a dual-driver model of "industrial operations + industrial investment" across three business tracks: iron ore, oil and gas, and new energy.

Product overview

海南矿业 (Merci Dandy) is a diversified resource company operating across three core business segments: iron ore mining and trading (石碌铁矿), oil and gas exploration and production (via subsidiary Roc Oil 洛克石油), and new energy materials (lithium mining and processing via Star's Sea 海星之海). The company is the only A-share listed company simultaneously engaged in both minerals and energy, with operations spanning iron ore production in Hainan, oil/gas assets in Sichuan and Southeast Asia, and lithium operations including the Mali Bougouni Lithium Mine supplying feedstock to the 20,000-ton/year battery-grade lithium hydroxide plant in Danzhou. The portfolio follows a platform architecture: the core resource extraction businesses (iron ore, oil/gas, lithium) serve as the foundation, with value-added processing (lithium hydroxide production, mixed ore trading) as downstream capabilities.

Differentiator

Problem solved

Functional benefit

Brands

• 星之海 (Xingzhihai): Subsidiary producing battery-grade lithium hydroxide, part of the new energy business segment

Products and services

• Shilu Iron Ore (石碌铁矿石)
• Mixed Ore Blending and Trading (混配矿业务)
• Crude Oil and Natural Gas (石油天然气)
• Battery-Grade Lithium Hydroxide (电池级氢氧化锂)
• Lithium Concentrate from Mali Bougouni Lithium Mine (马里布谷尼锂矿锂精矿)
• Lithium Carbonate (碳酸锂)

Quantifiable outcome

• 智控中心投用后，井下作业人员减少30%以上；非计划停机时间下降25%；全流程衔接效率提升40%
• +7 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• 浙江交通资源投资集团有限公司minorStrategic or Co-development Partner · 13 May 20262026年5月13日至14日，浙江交通资源投资集团党委书记、董事长周霖带队到访海南矿业，双方围绕战略性资源投资、产业运营及未来合作进行深入探讨，并参观石碌铁矿和星之海氢氧化锂产线。
• 上海复星公益基金会coreStrategic or Co-development Partner · 1 April 20182018年乡村医生项目落地海南临高县，复星基金会先后派驻6名队员在地对接工作、深入帮扶，累计投入人力、物资、资金共计409万余元。2024年10月，复星基金会与复星旅文、海南矿业共同签署《乡村医生项目海南省战略合作协议》，以一县一策打造海南特色帮扶模式。海南矿业副总裁何婧代表公司参与相关活动。
• 洛克石油（Rock Oil）coreStrategic or Co-development Partner洛克石油是海南矿业控股子公司，从事石油天然气勘探开发生产，拥有马来西亚、川中八角场、涠洲等多个国内外油气田资产，是公司油气业务的核心运营平台。
• 海南星之海新材料有限公司coreStrategic or Co-development Partner海南星之海是海南矿业全资子公司，负责运营年产2万吨电池级氢氧化锂项目，2022年7月落户儋州洋浦经济开发区，是公司布局新能源赛道的核心载体。

Scale indicators21 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Albemarle Corporation: World's largest lithium producer with brine and hard-rock assets and global lithium chemicals conversion footprint; benchmark on LiOH/Li2CO3 economics, pricing dynamics and capex cycles.
• Sociedad Química y Minera de Chile (SQM): Chile-based global lithium, specialty chemicals and plant-nutrition producer; benchmark for integrated resource-to-chemical lithium value chain and exposure to battery cathode demand.
• China Hongqiao Group: Largest Chinese aluminum producer with integrated bauxite mining and captive coal-fired power; broader resource conglomerate, useful for cross-comparison on capex discipline and aluminum/bauxite exposure to Chinese industrial demand.

Direct peers

• Zijin Mining: China's largest diversified miner (copper, gold, zinc, lithium) and international energy exposure through Zijin Mining International, operating on a similar "resources + energy" dual mandate and listed on Shanghai/Hong Kong. Most comparable A-share platform.
• Citic Resources: Hong Kong-listed diversified resources company operating the Sino Iron ore project in Western Australia alongside coal, aluminum and crude oil assets; same diversified mining-energy platform listed in Greater China.
• Ganfeng Lithium: Vertically integrated lithium business with upstream assets in Argentina (Mariana, Cauchari-Olaroz) and downstream battery-grade lithium hydroxide and lithium metal capacity. Closest pure-play analog to Hainan Mining's Mali-to-Danzhou LiOH chain.
• Shougang Fushan Resources: Hong Kong-listed Chinese coking coal and iron ore producer; comparable single-commodity Chinese resource producer with end markets serving Chinese steel mills.
• Tianqi Lithium: Strategic stake in Australia's Greenbushes plus Chinese lithium chemicals processing capacity, structurally comparable international lithium-mining + domestic-chemicals-processing model.
• Yahua Group: Sichuan-based producer of lithium chemicals (lithium hydroxide, lithium carbonate) with adjacent civil explosives business; directly comparable downstream lithium chemicals processing business targeting battery-grade customers.

Others

• Easpring Material Technology (Beijing Easpring): Leading Chinese cathode precursor (NCM) producer; anchor downstream customer ecosystem that consumes lithium hydroxide/carbonate from the likes of Xingzhihai, making it a direct counterpart rather than competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/mercidandy
• LinkedInlinkedin.com/company/merci-dandy

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Merci Dandy