证券代码：600259 证券简称：中稀有色 公告编号：临 2026-007 中稀有色金属股份有限公司 2025 年度业绩预告 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： 业绩预告的具体适用情形：净利润实现扭亏为盈。 经中稀有色金属股份有限公司（以下简称"公司"）财务部门初 步测算，公司预计 2025 年度实现归属于母公司所有者的净利润为 10,000 万元至 13,000 万元，与上年同期（法定披露数据）相比，将实 现扭亏为盈。 公司预计 2025 年度实现归属于母公司所有者的扣除非经常性损 益后的净利润为 13,000 万元至 16,000 万元。 一、本期业绩预告情况 经公司财务部门初步测算，预计 2025 年度实现归属于母公司所有 者的净利润为 10,000 万元至 13,000 万元，与上年同期（法定披露数据） 相比，将实现扭亏为盈。 1 预计 2025 年度实现归属于母公司所有者的扣除非经常性损益后的 净利润为 13,000 万元至 16,000 万元。 二、上年同期经营业绩和财务情况 （一）利 ...

Core Viewpoint - The company expects to achieve a net profit attributable to shareholders of the parent company between 100 million and 130 million yuan for the year 2025, marking a turnaround from losses in the previous year [1] Financial Performance - The projected net profit after deducting non-recurring gains and losses for 2025 is estimated to be between 130 million and 160 million yuan [1] - The company's performance in the fourth quarter experienced a decline due to falling prices of medium and heavy rare earth products, reform-related costs, and impairment of investments in associated enterprises [1] Market Strategy - The company is focusing on the overall upward trend in the rare earth market for 2025 and is actively seizing opportunities by enhancing market analysis, managing the enterprise effectively, and improving collaboration in upstream and downstream marketing [1] - Innovations in marketing strategies are expected to drive growth in the production and sales of rare earth smelting separation and permanent magnet materials [1] Asset Management - The company plans to continue focusing on its core business, increasing efforts to eliminate inefficient assets, and exiting loss-making enterprises to optimize its asset structure and fundamentally reduce sources of losses [1] - The costs associated with the aforementioned reforms have impacted the company's current profits and losses [1]

Core Viewpoint - The company, Zhong Rare Earth, expects to achieve a net profit attributable to shareholders of 100 million to 130 million yuan in 2025, marking a turnaround from losses in the previous year due to an overall upward trend in the rare earth market [2] Group 1: Financial Performance - The projected net profit for 2025 is between 100 million and 130 million yuan, indicating a significant recovery compared to the previous year's losses [2] - The company aims to leverage the rising rare earth market to enhance profitability [2] Group 2: Market Strategy - The company is actively strengthening market analysis and management to seize opportunities in the rare earth sector [2] - There is a focus on improving collaboration between upstream and downstream marketing operations [2] - The company plans to innovate its marketing strategies to boost sales in rare earth smelting separation and permanent magnet materials [2]

(一)股东会召开的时间：2026年1月26日 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 (二)股东会召开的地点：广州市番禺区汉溪大道东386号广晟万博城A塔写字楼37楼会议室 (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。 本次会议由董事长杨杰先生主持。会议的召集、召开和表决方式符合《公司法》《公司章程》及《股东 会议事规则》的相关规定。 (五)公司董事和董事会秘书的列席情况 1、公司在任董事8人，列席5人，董事范安胜先生、钟瑞林先生、刘子龙先生因工作原因无法出席会 议。 2、董事会秘书柯昌波先生、其他高级管理人员及公司聘请的见证律师出席了本次会议。 二、议案审议情况 ■ (三)关于议案表决的有关情况说明 (一)累积投票议案表决情况 1、关于选举董事的议案 ■ (二)涉及重大事项，5%以下股东的表决情况 上述议案已经公司第九届董事会2026年第一次会议审 ...

Group 1 - The rare earth market is experiencing significant price fluctuations, with praseodymium and neodymium oxide averaging 688,800 CNY/ton, an increase of 16,400 CNY/ton, while dysprosium oxide averages 1,416,400 CNY/ton, a decrease of 14,200 CNY/ton [1] - Metal manufacturers have begun pre-holiday stockpiling, leading to a slight increase in the prices of praseodymium and neodymium metals, although actual transactions remain limited due to high prices [1] - The short-term market trend appears upward, but the sustainability of this trend is uncertain [1] Group 2 - A-share market performance for rare earth permanent magnet concept stocks shows significant gains, with companies like Wolong New Energy and Xiamen Tungsten both seeing nearly 10% increases in stock price [2] - The trading volume for these stocks is substantial, with Wolong New Energy reaching 581 million CNY and Xiamen Tungsten at 4.482 billion CNY [2] - Other notable stocks include Chifeng Gold and China Rare Earth Holdings, both showing positive price movements and trading volumes [2]

法律意见书 广东连越律师事务所（以下简称"本所"）接受中稀有色金属股份有限公司（以下简 称"中稀有色"或"公司"）的委托，指派陆丽梅律师、卢润姿律师（以下简称"本所律师"） 出席并见证了公司 2026 年第一次临时股东会（以下简称"本次临时股东会"），并依据 《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以 下简称"《证券法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"）及《中 稀有色金属股份有限公司章程》（以下简称"《公司章程》"）的规定，对本次股东会的 召集、召开程序、出席人员资格、召集人资格、表决程序、表决结果等事宜进行了审查， 现发表本法律意见书如下： 一、本次股东会的召集、召开程序 （ 一 ） 公 司 董 事 会 已 于 2026 年 1 月 10 日 在 上 海 证 券 交 易 所 网 站 （https://www.sse.com.cn）上刊登了《中稀有色金属股份有限公司关于召开 2026 年第一次 临时股东会的通知》（以下简称"《临时股东会通知》"），《临时股东会通知》列明了 本次股东会现场会议召开的日期、时间和地点，网络投票的系统、网络投票起止时间， ...

证券代码：600259 证券简称：中稀有色 公告编号：2026-006 中稀有色金属股份有限公司 2026年第一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：2026 年 1 月 26 日 (二) 股东会召开的地点：广州市番禺区汉溪大道东 386 号广晟万博城 A 塔写字楼 37 楼会议室 2、 董事会秘书柯昌波先生、其他高级管理人员及公司聘请的见证律师 出席了本次会议。 二、 议案审议情况 (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 | 270 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 142,176,668 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 42.2596 | (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 ...

Group 1 - The core viewpoint of the news is that 中稀有色 (Zhong Xiyou) has experienced significant fluctuations in its stock performance and financing activities, indicating a high level of market interest and potential volatility [1][2] Group 2 - On January 23, 中稀有色's stock price fell by 1.30%, with a trading volume of 1.089 billion yuan [1] - The financing buy-in amount on the same day was 87.88 million yuan, while the financing repayment was 97.35 million yuan, resulting in a net financing outflow of 9.47 million yuan [1] - As of January 23, the total financing and securities lending balance for 中稀有色 was 1.067 billion yuan, with the financing balance accounting for 4.00% of the circulating market value, indicating a high level compared to the past year [1] - The company has a total of 60,900 shareholders as of September 30, with an increase of 9.77% from the previous period [2] - For the period from January to September 2025, 中稀有色 reported operating revenue of 4.634 billion yuan, a year-on-year decrease of 46.97%, while the net profit attributable to shareholders increased by 146.30% to 128 million yuan [2] - The company has cumulatively distributed 4.268 million yuan in dividends since its A-share listing, with no dividends distributed in the last three years [2] - Notable new institutional shareholders include Hong Kong Central Clearing Limited and several ETFs, indicating increased institutional interest [2]

Investment Rating - The industry rating is "Recommended" [3] Core Views - Short-term raw material supply tightness is expected to support nickel prices, with LME nickel spot price reaching $18,630 per ton, up 5.70% from January 16 [1] - The cobalt market is anticipated to see continued price increases due to structural supply tightness, with electrolytic cobalt priced at 438,000 yuan per ton, down 3.74% from January 16 [2][5] - Domestic antimony supply remains tight, providing price support, with antimony ingot prices at 160,500 yuan per ton [6] - Lithium carbonate prices are expected to continue rising, with a market average of 171,100 yuan per ton, up 8.36% from January 16 [8][19] - Supply uncertainties in the rare earth market are expected to support prices, with significant global supply concentration in China [10][20] - Tin prices are supported by overseas supply uncertainties, with LME tin prices at $54,200 per ton, up 9.66% from January 16 [11][21] - Tungsten market supply-demand imbalance is notable, with white tungsten concentrate prices at 535,500 yuan per ton, up 5.93% from January 16 [13][22] - Uranium supply tightness is expected to persist, with global uranium prices at $63.51 per pound [14][15] Summary by Sections Nickel and Cobalt Industry Update - Nickel prices are supported by supply constraints, with Indonesia's nickel mining production quota expected to be reduced to 250-260 million tons [1][16] - Cobalt supply is projected to tighten further, with Congo's export quotas confirmed to extend into 2026 [2][17] Antimony Industry Update - Antimony supply remains tight, with domestic prices expected to rise due to export restrictions and seasonal supply issues [6][18] Lithium Industry Update - Lithium carbonate prices are expected to remain strong due to demand support and supply uncertainties, particularly regarding the recovery of key lithium mines [8][19] Rare Earth Industry Update - The rare earth market is facing supply tightening due to export bans and geopolitical factors, with China maintaining a dominant position [10][20] Tin Industry Update - Tin prices are supported by uncertainties in overseas supply, particularly from Myanmar and Congo [11][21] Tungsten Industry Update - The tungsten market is experiencing a supply-demand imbalance, with prices expected to rise due to limited new supply [13][22] Uranium Industry Update - Uranium prices are supported by ongoing supply tightness and geopolitical factors affecting production [14][15]

Group 1: Copper - The LME copper price increased by 0.25% to $12,840.0 per ton, while the Shanghai copper price rose by 0.57% to ¥101,300 per ton [1] - Copper concentrate processing fees fell to -$49.79 per ton, and national copper inventory increased by 2.9% week-on-week, with a year-on-year increase of 203,000 tons [1][13] - The operating rate of copper cable enterprises increased by 2.72 percentage points to 58.71%, with a year-on-year increase of 15.87% [1][13] Group 2: Aluminum - The LME aluminum price rose by 0.29% to $3,137.5 per ton, and the Shanghai aluminum price increased by 1.53% to ¥24,300 per ton [2][14] - The operating rate of domestic aluminum processing enterprises fell by 6.3 percentage points to 51.1% due to the upcoming Spring Festival [2][14] - Electrolytic aluminum ingot inventory decreased by 6,000 tons to 743,000 tons [2][14] Group 3: Gold - COMEX gold price increased by 6.88% to $4,938.4 per ounce, with SPDR gold holdings rising by 4.86 tons to 1,079.66 tons [3][15] - Geopolitical risks have led to a strong fluctuation in the gold market [3][15] - The 10-year TIPS yield decreased by 0.07 percentage points to 1.95% [3][15] Group 4: Rare Earths - The price of praseodymium and neodymium oxide decreased by 0.25% to ¥672,700 per ton [4][36] - December exports of rare earth permanent magnets increased by 7% year-on-year, indicating a recovery in exports [4][36] - The rare earth sector is expected to see upward price momentum due to supply constraints and favorable export conditions [4][36] Group 5: Tungsten - Tungsten prices increased by 5.54% this week, supported by tight supply conditions [4][38] - The establishment of a $2.5 billion "strategic resilience reserve" in the U.S. may elevate tungsten's priority [4][38] - The price of ammonium paratungstate rose by 6.06% to ¥790,500 per ton [4][38] Group 6: Tin - Tin prices increased by 2.19% to ¥423,700 per ton, with inventory rising by 1.79% to 9,720 tons [4][38] - Supply from Indonesia and Myanmar remains below expectations, supporting an upward price trend [4][38] - The demand outlook is positive due to recovery in semiconductor and photovoltaic sectors [4][38] Group 7: Lithium - The average price of lithium carbonate rose by 0.8% to ¥159,500 per ton, while lithium hydroxide increased by 2.0% to ¥156,900 per ton [4][63] - Lithium production decreased slightly, with total output at 22,200 tons, down by 40 tons [4][63] - The market is experiencing strong demand, with signs of pre-holiday stocking [4][63] Group 8: Cobalt - Cobalt prices decreased by 3.7% to ¥437,000 per ton, while cobalt intermediate prices increased by 1.5% to $25.75 per pound [5][65] - Supply tightness is expected to persist, with domestic prices showing upward momentum [5][65] - The market structure remains tight due to limited liquidity and long transportation cycles [5][65]