包钢股份10月10日晚间公告，根据公司2022年年度股东大会审议通过的稀土精矿价格调整机制及计算公 式，公司拟将2025年第四季度稀土精矿关联交易价格调整为不含税26205元/吨（干量，REO=50%）。 REO每增减1%，不含税价格增减524.10元/吨。 ...

Core Points - The company Baogang Co., Ltd. announced an adjustment to the pricing mechanism for rare earth concentrate, which was approved at the 2022 annual shareholders' meeting [1] - The adjusted price for related transactions of rare earth concentrate for the fourth quarter of 2025 is set at 26,205 yuan per ton (excluding tax, with REO at 50%) [1] Company Summary - Baogang Co., Ltd. is implementing a new pricing formula for rare earth concentrate, reflecting changes in market conditions and operational strategies [1] - The decision to adjust the pricing mechanism indicates the company's proactive approach to managing its resources and aligning with industry standards [1]

| | | 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： | 回购方案首次披露日 | 2025 年 4 月 19 日 | | | --- | --- | --- | | 回购方案实施期限 | 2025 年 5 月 22 日至 2026 | 年 5 月 21 日 | | 预计回购金额 | 1 亿元（含）——2 亿元（含） | | | 回购用途 | 减少注册资本 □用于员工持股计划或股权激励 | | | | □用于转换公司可转债 | | | | □为维护公司价值及股东权益 | | | 累计已回购股数 | 1832.2600 万股 | | | 累计已回购股数占总股本比例 | 0.040% | | | 累计已回购金额 | 4150.0026 万元 | | | 实际回购价格区间 | 1.79 元/股— 2.72 元/股 | | 一、回购股份的基本情况 内蒙古包钢钢联股份有限公司（以下简称"公司"）分别于 2025 年 4 月 17 日、2025 年 5 月 22 日召开第七届董事会第二十八次会议和 2024 年 ...

格隆汇10月10日丨包钢股份(600010.SH)公布，按照计算公式和2025年第三季度稀土氧化物市场价格计 算，公司拟将2025年第四季度稀土精矿关联交易价格调整为不含税26205元/吨（干量，REO=50%）， REO每增减1%、不含税价格增减524.10元/吨。 ...

格隆汇10月10日丨包钢股份(600010.SH)公布，截至2025年9月30日，公司通过集中竞价交易方式累计回 购股份18322600股，占公司总股本的比例为0.040%，成交的最高价为2.72元/股、最低价为1.79元/股， 已支付的总金额为4150.0026万元（不含佣金、手续费等交易费用）。 ...

（原标题：包钢股份(600010.SH)：累计回购4150万元股份） 格隆汇10月10日丨包钢股份(600010.SH)公布，截至2025年9月30日，公司通过集中竞价交易方式累计回 购股份18322600股，占公司总股本的比例为0.040%，成交的最高价为2.72元/股、最低价为1.79元/股， 已支付的总金额为4150.0026万元（不含佣金、手续费等交易费用）。 ...

Market Overview - On October 10, the general steel sector rose by 1.09%, led by Wujin Stainless Steel, while the Shanghai Composite Index closed at 3897.03, down 0.94% [1] - The Shenzhen Component Index closed at 13355.42, down 2.7% [1] Individual Stock Performance - Wujin Stainless Steel (603878) closed at 10.81, up 9.97% with a trading volume of 594,000 shares and a turnover of 617 million yuan [1] - Nanjing Steel (600282) closed at 5.38, up 4.06% with a trading volume of 608,600 shares and a turnover of 322 million yuan [1] - Other notable performers include: - Sansteel Minguang (002110) at 4.39, up 4.03% [1] - Shandong Steel (600022) at 1.63, up 3.82% [1] - Shougang Group (000959) at 4.39, up 2.57% [1] Capital Flow Analysis - The steel sector experienced a net outflow of 767 million yuan from institutional investors, while retail investors saw a net inflow of 582 million yuan [2] - Notable capital flows include: - Wujin Stainless Steel had a net outflow of 38.74 million yuan from institutional investors [3] - Liugang (601003) saw a net inflow of 20.04 million yuan from institutional investors [3] - New Steel (600782) had a net inflow of 15.20 million yuan from institutional investors [3]

Group 1: Liquidity and Performance of Rare Earth ETF - The liquidity of the Rare Earth ETF managed by Jiashi has a turnover rate of 3.15% with a transaction volume of 251 million yuan [3] - Over the past week, as of October 9, the average daily transaction volume of the Rare Earth ETF reached 783 million yuan, ranking first among comparable funds [3] - The fund's scale increased by 386 million yuan in the past two weeks, also ranking first among comparable funds [3] - The number of shares increased by 2.131 billion in the past three months, marking significant growth and ranking first among comparable funds [3] - As of October 9, the net value of the Rare Earth ETF has risen by 93.31% over the past year, placing it in the top 0.16% of index equity funds [3] - The highest monthly return since inception was 41.25%, with the longest consecutive monthly increase being four months and a maximum increase of 83.89% [3] Group 2: Rare Earth Industry Policy and Supply Chain - The Ministry of Commerce has introduced a new round of export control policies for rare earths, aimed at strengthening management of the rare earth industry chain [4] - These policies include regulations on the recycling and utilization of secondary resources, with expectations that by 2025, secondary recovery will account for 27% of the rare earth supply chain [4] - The new regulations will strictly control the incremental supply of rare earths, making it difficult for the market to experience sudden increases in supply [4] - The focus of these controls is primarily on medium and heavy rare earths, including metals such as samarium, dysprosium, and terbium [4] - The tightening of policies may lead to frequent fluctuations in rare earth supply, potentially improving the overall supply-demand dynamics in the industry [4] Group 3: Top Weighted Stocks in Rare Earth Industry - The top ten weighted stocks in the Zhongzheng Rare Earth Industry Index account for a total of 61.96% of the index [3] - The leading stocks include Northern Rare Earth, Wolong Electric Drive, Lingyi Zhi Zao, China Rare Earth, Shenghe Resources, Greeenmei, Goldwind Technology, Baotou Steel, Xiamen Tungsten, and China Aluminum [3] - The performance of these stocks varies, with Northern Rare Earth showing a decline of 0.81% and China Rare Earth declining by 2.51% [6]

Core Viewpoint - The Shanghai Composite Index rose by 1.32% on October 9, with 23 industries experiencing gains, particularly in non-ferrous metals and steel, which increased by 7.60% and 3.38% respectively [1] Industry Summary Non-Ferrous Metals - The non-ferrous metals industry saw the highest net inflow of funds, totaling 5.36 billion yuan, contributing to its 7.60% increase [1] Steel Industry - The steel industry increased by 3.38%, with a net inflow of 906 million yuan. Out of 44 stocks in this sector, 38 rose, and 2 hit the daily limit [2] - The top three stocks by net inflow were: - Baogang Co., with an inflow of 880 million yuan and a rise of 8.40% - Hebei Steel Resources, with an inflow of 92.96 million yuan and a rise of 9.99% - Jiuli Special Materials, with an inflow of 59.17 million yuan and a rise of 8.04% [2][3] - The steel industry had 19 stocks with net outflows, with the largest being: - Hangang Co., with an outflow of 165 million yuan - Maanshan Steel, with an outflow of 29.82 million yuan - Shougang Co., with an outflow of 29.49 million yuan [2][3]

Core Insights - The rare earth permanent magnet sector saw a significant increase of 5.05% as of the market close on October 9, ranking it as the 8th highest gain among concept sectors [1] - A total of 51 stocks within this sector experienced gains, with notable performers including Antai Technology, China Ruilin, and Northern Rare Earth, which hit the daily limit [1] - The sector attracted a net inflow of 6.109 billion yuan from major funds, with Northern Rare Earth leading the inflow at 2.969 billion yuan [1] Sector Performance - The rare earth permanent magnet sector's daily gain of 5.05% was notable compared to other sectors, such as controllable nuclear fusion at 6.97% and superconducting concepts at 5.85% [1] - The top gainers in the sector included: - Antai Technology: +10.03% - Northern Rare Earth: +10.00% - China Ruilin: +10.01% [2][3] - Conversely, the sector also had some underperformers, with Huicheng Environmental Protection dropping by 6.37% [5] Fund Flow Analysis - Major fund inflow rates were led by: - Antai Technology: 37.79% - Baogang Co.: 17.84% - Northern Rare Earth: 16.97% [2][3] - The overall net inflow of 6.109 billion yuan was distributed among 34 stocks, with 12 stocks receiving over 100 million yuan in net inflow [1] Notable Stocks - Key stocks with significant net inflow included: - Northern Rare Earth: 2.969 billion yuan - Baogang Co.: 880 million yuan - Jinyi Permanent Magnet: 531.8 million yuan [1][2] - Other notable performers included: - China Aluminum: 358.15 million yuan - Shenghe Resources: 346.92 million yuan [2]