（一）通过《关于取消监事会及修订公司<章程>的议案》； 表决结果：同意 7 票，反对 0 票，弃权 0 票。 证券代码：600111 证券简称：北方稀土 公告编号：2025-060 中国北方稀土（集团）高科技股份有限公司 第九届监事会第八次会议决议公告 本公司监事会及全体监事保证本公告内容不存在虚假记载、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法律责任。 一、监事会会议召开情况 中国北方稀土（集团）高科技股份有限公司（以下简称公司） 监事会于 2025 年 11 月 24 日以通讯表决方式召开第九届监事会第八 次会议。会议应出席监事 7 人，实际出席监事 7 人。会议召开程序 符合《中华人民共和国公司法》、公司《章程》和《监事会议事规则》 的规定。 二、监事会会议审议情况 2025 年 11 月 25 日 （二）通过《关于修订公司<股东大会议事规则>的议案》； 表决结果：同意 7 票，反对 0 票，弃权 0 票。 （三）通过《关于修订公司<董事会议事规则>的议案》； 表决结果：同意 7 票，反对 0 票，弃权 0 票。 （四）通过《关于修订公司<独立董事工作规则>的议案》； 表决结果： ...

证券代码：600111 证券简称：北方稀土 公告编号：2025-059 中国北方稀土（集团）高科技股份有限公司 第九届董事会第八次会议决议公告 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法律责任。 一、董事会会议召开情况 中国北方稀土（集团）高科技股份有限公司（以下简称公司或北 方稀土）董事会于 2025 年 11 月 24 日以通讯表决方式召开第九届董 事会第八次会议。会议应出席董事 12 人，实际出席董事 12 人。会议 召开程序符合《中华人民共和国公司法》、公司《章程》和《董事会 议事规则》的规定。 二、董事会会议审议情况 （一）通过《关于取消监事会及修订公司<章程>的议案》； 根据《中华人民共和国公司法（2023 年 12 月修订）》、中国证监 会《关于新<公司法>配套制度规则实施相关过渡期安排》、《上市公司 章程指引》（证监会公告[2025]6 号）、《上市公司治理准则》〔证监会 公告（2025）18 号〕、《上市公司监管指引第 3 号—上市公司现金分 红》（证监会公告[2025]5 号）、《上海证券交易所股票上市规则（2 ...

中国北方稀土（集团）高科技股份有限公司 董事会提名委员会 2025 年第三次会议决议 中国北方稀土（集团）高科技股份有限公司（以下简称公司）董 事会提名委员会于 2025 年 11 月 14 日以通讯表决方式召开了 2025 年 第三次会议。本次会议应出席委员 5 人，亲自出席委员 5 人。本次会 议由公司董事会提名委员会主任委员杨文浩先生召集。会议召开程序 符合法律法规及公司《章程》《董事会提名委员会工作规则》等规定。 会议审议通过如下议题： 通过《关于公司部分董事、独立董事离任及补选董事、独立董事 的议案》； 因工作调整，白宝生先生不再担任公司董事、董事会战略与 ESG 委员会委员职务，张丽华女士不再担任公司董事、董事会薪酬与考核 委员会委员职务；因个人工作原因，杜颖女士不再担任公司独立董事、 董事会薪酬与考核委员会主任委员、审计委员会委员、提名委员会委 员职务。离任后，白宝生先生担任公司首席业务总监职务，张丽华女 士、杜颖女士不再担任公司任何职务。 特此决议 根据《公司法》、公司《章程》等规定，白宝生先生、张丽华女 士、杜颖女士离任不会导致公司董事会成员人数低于法定最低人数； 杜颖女士离任未导致公司独立 ...

Core Viewpoint - The non-ferrous metal sector is experiencing mixed performance, with opportunities for low-cost investments in specific sub-sectors, particularly in the electrolytic aluminum segment, driven by anticipated demand growth and price increases through 2026 [1][2]. Group 1: Market Performance - As of November 24, 2025, the non-ferrous metal industry index (399395) shows mixed results among its constituent stocks, with Dongyangguang (600673) leading gains at 5.68%, followed by Placo New Materials (300811) at 5.42%, and Hailiang Co. (002203) at 4.31% [1]. - The non-ferrous ETF fund (159880) is currently priced at 1.67 yuan [1]. Group 2: Sector Insights - The non-ferrous sector is viewed as presenting a buying opportunity, particularly in segments that have been undervalued [1]. - The electrolytic aluminum sector is highlighted for its high dividend yield as a defensive strategy, with expectations of demand growth and price increases continuing into 2026 [1]. - The outlook for industrial metals is positive, driven by U.S. fiscal expansion and the high copper-aluminum price ratio, which may lead to increased demand for aluminum [1]. Group 3: Index Composition - As of October 31, 2025, the top ten weighted stocks in the non-ferrous metal industry index (399395) include Zijin Mining (601899), Luoyang Molybdenum (603993), and Northern Rare Earth (600111), collectively accounting for 52.91% of the index [2].

Core Viewpoint - Northern Rare Earth's stock price has shown significant volatility, with a year-to-date increase of 112.37%, but recent declines in the short term indicate potential market fluctuations [1][2]. Company Overview - Northern Rare Earth (China Northern Rare Earth Group High-Tech Co., Ltd.) is based in Baotou, Inner Mongolia, and was established on September 12, 1997, with its listing on September 24, 1997. The company specializes in rare earth raw materials, functional materials, and some terminal application products [1]. - The revenue composition of the company includes: production business segment 132.93%, functional materials and application products segment 31.31%, trading business segment 27.24%, and environmental industry and others 4.01% [1]. Financial Performance - For the period from January to September 2025, Northern Rare Earth achieved operating revenue of 30.292 billion yuan, representing a year-on-year growth of 40.50%. The net profit attributable to shareholders was 1.541 billion yuan, showing a substantial increase of 280.27% year-on-year [2]. - Cumulatively, the company has distributed 5.358 billion yuan in dividends since its A-share listing, with 994 million yuan distributed over the past three years [3]. Shareholder Information - As of November 20, 2025, the number of shareholders for Northern Rare Earth was 736,400, a decrease of 2.13% from the previous period. The average number of circulating shares per person increased by 2.18% to 4,908 shares [2]. - The top ten circulating shareholders include significant institutional investors, with notable changes in holdings, such as Hong Kong Central Clearing Limited reducing its stake by 58.33 million shares [3].

Core Viewpoint - The Shanghai Composite Index fell by 2.45% on November 21, with the non-ferrous metals sector experiencing a significant decline of 5.26%, making it the second-largest drop among various industries [1] Market Overview - The net outflow of capital from the two markets reached 128.99 billion yuan, with only the media sector seeing a net inflow of 1.48 billion yuan [1] - The electronics sector led the capital outflow, with a net outflow of 26.48 billion yuan, followed by the power equipment sector with 19.54 billion yuan [1] Non-Ferrous Metals Sector Performance - The non-ferrous metals sector saw a drop of 5.26%, with a total net capital outflow of 10.783 billion yuan [2] - Out of 137 stocks in this sector, only 2 stocks rose, while 135 stocks fell, including 11 that hit the daily limit down [2] - The top three stocks with the highest net capital inflow were: - Chihong Zn & Ge: 38.03 million yuan - Hailiang Co.: 35.79 million yuan - Xinjiang Zhonghe: 23.86 million yuan [2] Non-Ferrous Metals Capital Outflow - The top three stocks with the highest net capital outflow were: - Ganfeng Lithium: -1.011 billion yuan - Northern Rare Earth: -940.56 million yuan - Huayou Cobalt: -899.66 million yuan [3] - Other notable outflows included: - Tianqi Lithium: -777.09 million yuan - Zijin Mining: -585.94 million yuan [3]

Core Insights - The price of praseodymium and neodymium oxide has risen to 555,000 yuan per ton as of November 20, with a weekly increase of 10,000 yuan and a monthly increase of 50,000 yuan, reflecting a 10% growth [1] - The domestic rare earth price is expected to continue rising due to improved demand and supply dynamics, driven by factors such as the recovery of China-US relations and strong downstream inventory replenishment [1] - The domestic rare earth industry is showing significant strategic value amid international trade tensions, with expectations for sustained high performance in the second half of the year [1] Price Performance - As of November 20, the price of praseodymium and neodymium oxide reached 555,000 yuan per ton, with a weekly increase of 10,000 yuan and a monthly increase of 50,000 yuan, indicating a 10% rise [1] - The strong demand from downstream industries is contributing to the upward price trend, with companies like Northern Rare Earth reporting full order books and good execution [1] Index Valuation - The China Securities Rare Earth Industry Index PETTM stood at 38.5 as of November 20, 2025, placing it at the 46.1% valuation percentile over the past decade, indicating a return to the long-term valuation mean [1] Industry Trends - China's rare earth industry chain is demonstrating significant strategic value in the context of international trade conflicts, with expectations for continued price increases due to improved supply-demand dynamics [1] - The supply side is expected to remain stable due to the implementation of total control measures for rare earth mining and separation, while demand is driven by sectors such as robotics, low-altitude economy, and military applications [1] - The high cost of overseas refining supports price differentials, and the U.S. acquisition base price is raising price expectations, leading to a re-evaluation of the strategic value of rare earths [1] Related Products - The E Fund Rare Earth ETF (159715) focuses on national strategic resources and global competitive industry chains, with a management and custody fee rate of 0.15% + 0.05% per year, significantly lower than similar products linked to the China Securities Rare Earth Industry Index [2] - As of October 31, 2025, the cumulative return of the E Fund Rare Earth ETF has been 76.43%, outperforming the benchmark index by 13.83%, making it a valuable tool for capturing opportunities in the rare earth industry [2]

Group 1: Market Overview - The A-share market showed slight recovery on November 20, with the non-ferrous sector opening high and fluctuating, as evidenced by the significant trading volume of the Non-Ferrous 50 ETF (159652) which rose by 0.52% and reached a trading volume of over 90 million yuan [1] - The Non-Ferrous 50 ETF index components mostly surged, with Zhongkuang Resources rising over 5%, while other stocks like Northern Rare Earth and Huayou Cobalt also saw gains exceeding 1% [3] Group 2: Lithium Market Dynamics - On November 19, lithium carbonate futures prices broke through 100,000 yuan/ton, indicating a clear recovery in spot lithium carbonate prices. Ganfeng Lithium's chairman stated that if demand growth exceeds 30% to 40% next year, prices could potentially exceed 150,000 yuan/ton or even 200,000 yuan/ton due to supply constraints [2] Group 3: Supply Chain and Pricing Trends - The supply chain for non-ferrous metals is facing disruptions, with several large mines experiencing operational issues, which highlights the vulnerability of global non-ferrous resource supply [6] - The copper market is expected to see average prices reach 4.55 USD per pound by 2026 due to supply concerns stemming from accidents at major mines [5] Group 4: Investment Opportunities in Non-Ferrous Metals - The non-ferrous metals sector has outperformed other industries this year, with a year-to-date increase of 79% for the CITIC non-ferrous metals index, significantly leading other sectors [5] - The Non-Ferrous 50 ETF (159652) is highlighted for its high "gold-copper content" of 46%, making it a leading choice among similar investment products [12] Group 5: Future Outlook and Strategic Considerations - The geopolitical landscape and resource security concerns are expected to drive demand for strategic commodities, with a notable increase in green demand for copper and aluminum anticipated by 2030 [8] - The ongoing industrialization in emerging economies and the reshaping of trade patterns are likely to provide new growth opportunities for commodity demand, particularly in countries involved in the Belt and Road Initiative [9]

Group 1 - The core viewpoint of the news highlights a strong performance in the non-ferrous metals industry, with the index rising by 1.51% and key stocks like Guocheng Mining and Yahua Group showing significant gains [1] - In October, the actual growth of the industrial added value of non-ferrous metals above designated size increased by 4.0% year-on-year, while the growth from January to October was 7.4%, which is 0.4 percentage points lower than the previous three quarters [1] - The demand in the energy storage market is robust, with leading domestic lithium battery companies placing large orders with upstream material suppliers, indicating a high growth trend in production for November [1] Group 2 - The non-ferrous metals ETF closely tracks the Guozheng Non-Ferrous Metals Industry Index, which selects 50 securities with significant size and liquidity in the non-ferrous metals sector, reflecting the overall performance of listed companies in this industry [2] - As of October 31, 2025, the top ten weighted stocks in the Guozheng Non-Ferrous Metals Industry Index accounted for 52.91% of the index, including companies like Zijin Mining and Ganfeng Lithium [2]

Market Overview - The small metals sector increased by 1.14% on November 19, with Xiyu Co. leading the gains [1] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Key Performers in Small Metals Sector - Xiyu Co. (000960) closed at 24.48, up 5.88% with a trading volume of 402,900 shares and a transaction value of 964 million yuan [1] - Yunnan Province Industry (002428) closed at 27.59, up 3.64% with a trading volume of 519,500 shares and a transaction value of 1.399 billion yuan [1] - Guangsheng Nonferrous (600259) closed at 53.45, up 3.38% with a trading volume of 92,100 shares and a transaction value of 481 million yuan [1] - China Rare Earth (000831) closed at 48.26, up 2.92% with a trading volume of 369,600 shares and a transaction value of 1.763 billion yuan [1] Fund Flow Analysis - The small metals sector experienced a net outflow of 243 million yuan from institutional investors and 122 million yuan from speculative funds, while retail investors saw a net inflow of 365 million yuan [2][3] - China Rare Earth (000831) had a net inflow of 196 million yuan from institutional investors, while it faced a net outflow of 155 million yuan from retail investors [3] - North Rare Earth (600111) saw a net inflow of 127 million yuan from institutional investors, with a net outflow of 40 million yuan from retail investors [3]