公司代码：600301 公司简称：华锡有色 2025 年半年度报告 广西华锡有色金属股份有限公司2025 年半年度报告 广西华锡有色金属股份有限公司 广西华锡有色金属股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人张小宁、主管会计工作负责人叶亚斌及会计机构负责人（会计主管人员）梁小 凤声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 本报告期无利润分配或公积金转增股本预案。 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告内容涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投资 者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 □适用 √不适用 | 第一节 | 释义 | 1 | | --- | --- | - ...

证券代码：600301 证券简称：华锡有色 编号：2025-052 广西华锡有色金属股份有限公司 关于召开2025年第四次临时股东会的通知 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： 一、召开会议的基本情况 (一)股东会类型和届次 2025年第四次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 1 日 15 点 00 分 1 股东会召开日期：2025年9月1日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投 票，应按照《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等有关 规定执行。 (七)涉及公开征集股东投票权 无 召开地点：南宁市良庆区体强路 12 号北部湾航运中心 A 座 8 楼 812 会议室 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易 ...

报告期内，公司围绕增效益、增产量的目标持续优化生产、挖潜增效，经营指标创历史佳绩，业务发展 稳中有进、稳中向好。 智通财经APP讯，华锡有色(600301.SH)披露2025年半年度报告，报告期公司实现营收27.87亿元，同比 增长23.66%;归属于上市公司股东的净利润3.82亿元，同比增长9.49%;扣非净利润3.74亿元，同比增长 12.65%;基本每股收益0.60元。 ...

人民财讯8月14日电，华锡有色（600301）8月14日晚间发布2025年半年度报告，上半年营业收入27.87 亿元，同比增长23.66%；归母净利润3.82亿元，同比增长9.49%。报告期产品量价齐升驱动公司营业收 入明显提升。 ...

格隆汇8月14日丨华锡有色(600301.SH)公布2025年半年度报告，报告期实现营业收入27.87亿元，同比增 长23.66%；归属于上市公司股东的净利润3.82亿元，同比增长9.49%；归属于上市公司股东的扣除非经 常性损益的净利润3.74亿元，同比增长12.65%；基本每股收益0.60元。 ...

Market Overview - The small metals sector experienced a decline of 0.4% on August 14, with Zhongkuang Resources leading the drop [1] - The Shanghai Composite Index closed at 3666.44, down 0.46%, while the Shenzhen Component Index closed at 11451.43, down 0.87% [1] Individual Stock Performance - Notable gainers included: - Northern Rare Earth (600111) with a closing price of 38.35, up 2.02% and a trading volume of 2.8679 million shares, totaling 10.997 billion yuan [1] - Huaxi Nonferrous (600301) closed at 25.76, up 1.94% with a trading volume of 219,500 shares, totaling 571 million yuan [1] - Major decliners included: - Zhongkuang Resources (002738) closed at 39.81, down 3.70% with a trading volume of 295,200 shares, totaling 1.194 billion yuan [2] - Tian Gong Co. (920068) closed at 19.90, down 2.93% with a trading volume of 57,400 shares, totaling 1.15 billion yuan [2] Capital Flow Analysis - The small metals sector saw a net outflow of 36.8741 million yuan from institutional investors, while retail investors had a net inflow of 166 million yuan [2] - Specific stock capital flows included: - Northern Rare Earth had a net inflow of 736 million yuan from institutional investors, while retail investors saw a net outflow of 471 million yuan [3] - Yunnan Province (002428) had a net inflow of 41.9803 million yuan from institutional investors, with retail investors experiencing a net outflow of 15.5967 million yuan [3]

证券之星消息，8月13日小金属板块较上一交易日上涨1.54%，华锡有色领涨。当日上证指数报收于 3683.46，上涨0.48%。深证成指报收于11551.36，上涨1.76%。小金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600301 | 华锡有色 | 25.27 | 10.01% | 20.60万 | | 5.03亿 | | 000962 | 东方银\/ | 19.61 | 9.98% | 47.23万 | | 9.17亿 | | 002842 | 翔鹭钨业 | 9.80 | 4.48% | 34.59万 | | 3.35亿 | | 002428 | 云南错业 | 23.28 | 4.39% | 57.30万 | | 13.09亿 | | 002378 | 草渡钨业 | 9.65 | 4.10% | 47.06万 | | 4.47 乙 | | 600392 | 盛和盗源 | 22.33 | 3.33% | 187.76万 | | 41.43亿 | ...

Group 1 - The core viewpoint of the news highlights a strong performance in the non-ferrous metal sector, particularly the Non-Ferrous 50 ETF (159652), which has seen significant increases in both price and trading volume [1][5][7] - As of August 13, 2025, the Non-Ferrous 50 ETF rose by 2.25%, with notable individual stocks like Huaxi Nonferrous (600301) and Bowei Alloy (601137) each increasing by 10.01% [1][3] - The ETF has experienced a net inflow of funds, with a total of 500 million shares purchased, indicating strong investor interest [3][4] Group 2 - Recent economic data from the U.S. has shown weaker-than-expected performance, with the non-manufacturing PMI at 50.1, raising concerns about economic growth [5][6] - The market anticipates a potential interest rate cut by the Federal Reserve, with an 88.9% probability of a 25 basis point cut in September, which is expected to positively impact precious metals [6][7] - The overall sentiment in the non-ferrous metal sector is bolstered by supply-side policies and improving demand dynamics, suggesting a favorable environment for price increases [6][7] Group 3 - The Non-Ferrous 50 ETF encompasses a diverse range of metals, including gold, copper, and rare earths, with copper making up 31% of its composition, positioning it as a leading fund in its category [8][9] - Key holdings in the ETF include Zijin Mining (15.8% weight) and Huayou Cobalt (4.0% weight), reflecting a strong focus on leading companies in the copper and lithium sectors [9][10] - The ETF's recent growth in scale, with an increase of 881.50 million yuan over the past week, indicates a robust interest from investors [4][5]

Core Insights - The 2023 Fortune Global 500 list highlights the resilience and competitive advantage of China's polyester industry, with five companies consistently ranking among the top, reflecting their strong performance amid global challenges [1][2]. Group 1: Company Rankings and Performance - Hengli Group ranked 81st, continuing its nine-year streak on the list; Rongsheng rose to 118th, up 20 places; Shenghong ranked 161st, also showing a steady increase; Weiqiao maintained its position at 166th, up 9 places; and Hengyi jumped to 220th, up 23 places [2]. - The consistent presence and rising rankings of these five polyester companies underscore their growing significance in the global market and their enhanced capabilities in scale expansion, technological upgrades, and industry integration [2][5]. Group 2: Industry Competitive Advantages - The core competitive advantage of China's polyester industry lies in scale effects and integrated supply chains, with large-scale projects achieving high output rates, significantly exceeding industry averages [4][5]. - These companies have developed comprehensive supply chains from refining to textile production, allowing them to maximize profits and mitigate risks during price fluctuations [4][6]. Group 3: Global Market Dynamics - China's PTA production capacity accounts for approximately 80% of the global total, highlighting its critical role in the polyester supply chain [3]. - The industry faces challenges from tariff disputes and demand fluctuations, particularly due to trade tensions with the U.S., which have led to increased inventory levels and reduced orders [7][8]. Group 4: Risk Management and Financial Tools - The use of futures and derivatives has become essential for these companies to manage price volatility and enhance their risk management capabilities, allowing them to stabilize operations amid market fluctuations [11][12]. - Companies have adopted a comprehensive hedging strategy across the supply chain, utilizing futures to lock in raw material costs and optimize profit margins [12][16]. Group 5: Future Outlook - The integration of financial tools into operational strategies is seen as a key driver for the future competitiveness of the polyester industry, enabling a transition from scale-driven growth to efficiency-focused strategies [15][16]. - As the industry evolves, the reliance on futures and derivatives is expected to increase, positioning these companies to navigate complex global market dynamics effectively [15][16].

Core Viewpoint - China is the dominant country in global antimony resources and production, but the depletion of high-quality resources and increasing mining difficulties are significant challenges. The National Development and Reform Commission has included antimony in the "National Security Reserve List," aiming to increase the reserve target to 25,000 tons [1][6]. Industry Overview - Antimony oxide, primarily in the forms of antimony trioxide (Sb₂O₃) and antimony pentoxide (Sb₂O₅), is a common antimony oxide. Antimony is a chemical element with the symbol Sb and atomic number 51. Antimony trioxide is a white cubic crystal, soluble in hydrochloric acid and tartaric acid, but insoluble in water and acetic acid. Antimony pentoxide is a pale yellow powder, difficult to dissolve in water, and slightly soluble in alkali, forming antimonates [2][4]. Industry Chain - The upstream of the antimony oxide industry chain includes antimony ore resources, coal, soda ash, and various production equipment. The midstream involves the production and manufacturing of antimony oxide. The downstream applications include flame retardants, bearings, glass clarifiers, lead-acid batteries, electronic materials, and pharmaceuticals [4]. Industry Status - In 2024, China's antimony oxide production is projected to be 105,100 tons, a year-on-year decrease of 6.76%, while consumption is expected to be 74,900 tons, down 2.87% [6]. The average grade of domestic antimony ore has declined from 0.8% in 2010 to 0.6% in 2024, increasing mining costs by 30% [8]. The operating rate of antimony mines in China is expected to remain below 50% due to strict environmental inspections and safety issues [10]. Key Enterprises - The antimony industry in China is highly concentrated, with Hunan Gold Group and Flash Star Antimony Co., Ltd. forming a duopoly. Hunan Gold holds the largest market share, followed by Flash Star Antimony, Huaxi Nonferrous Metals, and Hunan Yutong Mining [14][16]. Hunan Gold has a comprehensive antimony industry chain and produced 29,200 tons of antimony products in 2024, a decrease of 6.15% year-on-year [16]. Development Trends 1. **Policy-Driven Resource Integration and Strategic Reserve Enhancement** - China is constructing a national security system for antimony resources through export controls, environmental inspections, and strategic reserve policies. The export control policy implemented in September 2024 aims to prioritize domestic demand, leading to a surge in antimony prices globally [20]. 2. **Technological Innovation Leading Industry Upgrade and High-End Transformation** - The antimony industry is advancing through technological innovations that enhance resource utilization and extend into high-value-added fields. New smelting processes and product developments are addressing environmental concerns and improving recovery rates [21][22]. 3. **Breaking Resource Constraints and Deepening Global Layout** - Companies are accelerating global expansion to address resource constraints. Hunan Gold plans to increase high-end antimony production capacity and pursue overseas resource acquisitions [23].