Investment Rating - The report maintains an "Overweight" rating for the non-ferrous metals sector [1] Core Views - The non-ferrous metals sector saw a weekly increase of 1.46%, ranking in the upper middle among all primary industries. The energy metals sector rose by 5.08%, while the precious metals sector increased by 0.68% [1][14] - Gold prices have broken through the consolidation range, while silver's bullish sentiment has peaked, indicating a potential risk of a sharp short-term correction [1][49][50] Summary by Sections Market Review - The Shanghai Composite Index rose by 0.33%, with the non-ferrous metals sector outperforming the index by 1.44 percentage points [14] - The report highlights the performance of various sub-sectors, with energy metals leading the gains [14] Industrial Metals - **Copper**: Prices fluctuated with LME copper at $11,882 per ton (up 2.85%) and SHFE copper at ¥93,180 per ton (down 0.96%). Supply remains weak, with a forecasted global copper shortage of 150,000 tons by 2026. Demand is deteriorating as construction projects pause, leading to increased spot market discounts [2][30] - **Aluminum**: LME aluminum rose to $2,945 per ton (up 2.43%), while SHFE aluminum was at ¥22,185 per ton (up 0.07%). Supply conditions are stable, with new capacity coming online, but demand remains cautious due to a downturn in the real estate sector [3][35] - **Zinc**: Prices fell, with LME zinc at $3,073 per ton (down 2.12%) and SHFE zinc at ¥23,065 per ton (down 2.29%). Inventory levels showed mixed trends [41] - **Tin**: Prices increased, with LME tin at $43,227 per ton (up 5.11%) and SHFE tin at ¥343,040 per ton (up 3.02%). Supply from Indonesia has increased, but demand remains cautious [46] Precious Metals - **Gold**: COMEX gold closed at $4,368.70 per ounce (up 0.90%), while SHFE gold was at ¥979.90 per gram (up 0.95%). Economic data from the U.S. showed mixed results, but overall inflation appears to be cooling, which may influence future gold prices positively [4][49] - **Silver**: The report warns of extreme bullish sentiment in silver, with potential for a sharp correction as market volatility peaks [50]

证券日报网讯 12月19日，黄河旋风（600172）在互动平台回答投资者提问时表示，公司将继续围绕主 业做大做强，积极扩大产能，并开展金刚石材料在半导体、纳米材料、功能材料等应用领域的研发。紧 紧围绕市场，立足超硬材料主业，在充分发挥公司规模、技术等优势的基础上，重点在培育钻石、人造 金刚石磨料精密分级分选技术研发、金刚石高端应用技术开发方面突破；健全碳系材料行业生产链条， 重点开展以金刚石应用为主的第三代半导体产业研究，拓宽公司碳系材料产品在通讯、医疗、光电材 料、半导体等方面应用。 ...

证券日报网讯12月19日，黄河旋风（600172）在互动平台回答投资者提问时表示，公司严格按照信息披 露相关规则履行披露义务，后续如有相关计划，将根据相关法律法规及时履行信息披露义务。 ...

Core Viewpoint - The deep earth economy sector experienced a decline of 2.78% on December 16, with Huanghe Xuanfeng leading the drop [1] Group 1: Market Performance - The Shanghai Composite Index closed at 3824.81, down 1.11% [1] - The Shenzhen Component Index closed at 12914.67, down 1.51% [1] Group 2: Capital Flow - The deep earth economy sector saw a net outflow of 492 million yuan from main funds, while retail investors contributed a net inflow of 445 million yuan [1] - Speculative funds recorded a net inflow of 46.84 million yuan [1]

每经AI快讯，培育钻石板块走弱，四方达、潮宏基跌超5%，沃尔德、黄河旋风等跟跌。 （文章来源：每日经济新闻） ...

Group 1 - The cultivated diamond concept declined by 1.83%, ranking among the top declines in the concept sector, with *ST Yazhen hitting the limit down, and companies like World, Huanghe Xuanfeng, and Hengsheng Energy also experiencing significant declines [1][2] - Among the cultivated diamond concept stocks, five showed price increases, with Jing Sheng Electric, Yuyuan Shares, and Chao Hong Ji rising by 1.32%, 0.95%, and 0.77% respectively [1][2] - The cultivated diamond concept saw a net outflow of 405 million yuan from main funds today, with 14 stocks experiencing net outflows, and five stocks seeing outflows exceeding 30 million yuan [2] Group 2 - The stock with the highest net outflow was Boyun New Material, with a net outflow of 139 million yuan, followed by Huanghe Xuanfeng, Chuchang New Material, and Sifangda [2][3] - Stocks with the highest net inflow included Jing Sheng Electric, Chao Hong Ji, and Yuyuan Shares, with net inflows of 36.57 million yuan, 2.99 million yuan, and 1.49 million yuan respectively [2][3] - The trading volume for Boyun New Material was 10.35%, while Huanghe Xuanfeng had a trading volume of 10.23% [2][3]

证券代码：600172 证券简称：黄河旋风 公告编号：临2025-048 河南黄河旋风股份有限公司 2025年第四次临时股东会决议公告 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。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 (一)股东会召开的时间：2025年12月8日 (二)股东会召开的地点：河南省长葛市人民路200号 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，会议主持情况等。 本次会议以现场和网络投票相结合的方式召开，会议的表决方式符合《公司法》及《公司章程》的规 定，会议由公司董事会秘书袁超峰先生主持。 (五)公司董事和董事会秘书的列席情况 1、公司在任董事9人，列席7人，非独立董事谭红梅、肖铎因公未能出席本次会议。 2、公司董事会秘书袁超峰出席本次会议；公司高管徐二豪、李明涛、赵自勇、胡军恒、何天运列席本 次会议。 二、议案审议情况 (一)非累积投票议案 1、议案名称：关于续聘会计师事务所的议案 审议结果 ...

河南世纪通律师事务所 关于河南黄河旋风股份有限公司 2025 年第四次临时股东会的 法律意见书 豫世意见（2025）第 li005 号 致：河南黄河旋风股份有限公司 根据《中华人民共和国公司法》《中华人民共和国证券法》 《中华人民共和国律师法》《上市公司股东会规则》等规定，河南 世纪通律师事务所（以下简称本所）受公司委托，指派本律师出席 公司 2025 年第四次临时股东会，对本次股东会进行法律见证。 本律师按照律师行业公认的业务标准、道德规范和勤勉尽责精 神，对本次股东会的召集、召开程序，出席人员及召集人的资格、 会议表决程序、表决结果等重要事项的合法性进行核验后，出具法 律意见如下： 一、本次股东会召集、召开的程序 公司董事会于 2025 年 11 月 21 日决议召开本次股东会，并于 2025 年 11 月 22 日在《上海证券报》及上海证券交易所网站就本次 股东会的召开时间、地点和审议事项进行了公告（以下简称公告）。 本次股东会采取现场投票与网络投票相结合的方式召开。现场会议 于 2025 年 12 月 8 日在河南省长葛市人民路 200 号公司会议室如期 召开。本次股东会的网络投票，通过上海证券交易所 ...

本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 12 月 8 日 (二)股东会召开的地点：河南省长葛市人民路 200 号 证券代码：600172 证券简称：黄河旋风 公告编号：临 2025-048 河南黄河旋风股份有限公司 2025年第四次临时股东会决议公告 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。 重要内容提示： 审议结果：通过 表决情况： | 同意 | 反对 | 弃权 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 股东类型 | 票数 | 比例（%） | 票数 | 比例 | 票数 | 比例 | | | （%） | （%） | | | | | | | | A | 股 | 318,397,590 | 99.5041 | 822,188 | 0.2569 | 764,480 | 0.2390 | (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 ...

Group 1: Pharmaceutical Industry - In December 2025, the National Medical Insurance Catalog successfully added 114 new drugs, including 50 innovative Class A drugs such as Teriparatide and the domestic ADC drug Lukanosatuzumab [1] - The commercial insurance innovative drug catalog includes 5 domestic CAR-T cell therapies, 2 imported Alzheimer's drugs, and rare disease medications, with CAR-T therapy costing over 1 million yuan per treatment if paid out of pocket [1] Group 2: Satellite Internet Industry - On December 4-5, the 2025 Satellite Internet Industry Ecosystem Conference was held, where Yuanxin Satellite signed a cooperation agreement with Airbus for low-orbit satellite aircraft connectivity [2] - The satellite internet industry is expected to reach a market size of 200-400 billion yuan by 2030, with an annual compound growth rate of 10%-28% [3] Group 3: Cultured Diamond Industry - The 2025 Cultured Diamond Industry Conference was held on December 6, signing 30 projects with a total investment of no less than 15 billion yuan [4] - The current market size of China's cultured diamond industry is approximately 14 billion yuan, projected to exceed 102.5 billion yuan by 2030 [4] Group 4: Optical Fiber Communication Industry - On December 5, China Telecom launched the world's first cross-border hollow-core optical fiber and ultra-low latency commercial transmission system [5] - The hollow-core optical fiber technology is expected to achieve a compound annual growth rate of 56.52% over the next six years [5]