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。 广西华锡有色金属股份有限公司（以下简称"公司"）于 2025 年 8 月 15 日披露了《公司 2025 年半年度报告》，为便于广大投资者更加全面深入地了解 公司经营成果、财务状况、发展战略等情况，公司于 2025 年 8 月 28 日（星期四） 11:00-12:00 在"价值在线"（网址：https://eseb.cn/1r1iyOi0NZm），组织 召开了公司 2025 年半年度业绩说明会。 为提升业绩说明会的召开质量和效率，公司于 8 月 26 日通过上海证券交易 所网站及《中国证券报》《上海证券报》《证券时报》《证券日报》发布了《公 司关于召开 2025 年半年度业绩说明会的公告》（公告编号：2025-053），对本 次业绩说明会的召开时间、参与方式、出席会议人员、问题预征集等事项进行了 说明，多渠道向投资者征集问题，增强业绩说明会针对性的同时，为投资者参与 业绩说明会预留了充足的时间。 一、业绩说明会召开情况 公司董事长张小宁先生，副董事长、总经理李新宇先生，独立董事 ...

Group 1 - The "2025 China Top 500 Private Enterprises" list was released by the All-China Federation of Industry and Commerce on August 28, highlighting the strong performance of private companies in Jiangsu Province [1] - Hengli Group Co., Ltd. ranked third on the list with a revenue of 871.52 billion yuan, making it the leading private enterprise in Jiangsu [1] - Other notable companies from Jiangsu include Shenghong Holding Group Co., Ltd. at ninth place and GCL-Poly Energy Holdings Limited at fifty-first [1] Group 2 - The list reflects the robust foundation of the private economy in Jiangsu, contributing to its status as one of the most economically developed provinces in China [1]

Group 1: AI Medical - Ping An Good Doctor's stock surged by 6.99% on August 26, with its price doubling in the past month. The company reported an AI product system "7+N+1" with an accuracy rate of approximately 98% for AI-assisted consultations and nearly 80% for complex disease treatment plans [4] - The average service cost for family doctors decreased by about 52% due to AI assistance, and operational efficiency improved by around 50% [4] Group 2: Artificial Intelligence Policy - The State Council released an opinion on August 26 to implement the "Artificial Intelligence+" initiative, aiming for over 70% application penetration of new intelligent terminals and agents by 2027, and over 90% by 2030 [5] - The initiative includes building national AI application pilot bases and promoting the transformation of software and information service companies [5] Group 3: 5.5G Development - The Ministry of Industry and Information Technology is expected to issue the second batch of millimeter-wave private network frequency licenses, with more companies anticipated to receive licenses by the end of the year [6] - This issuance indicates the maturity of the domestic millimeter-wave 5G industry chain and is expected to initiate a wave of innovation in the sector [7] Group 4: Gaming Industry - The National Press and Publication Administration approved 173 games in August 2025, setting a new record for the year, including 166 domestic and 7 imported games [9] - The gaming market is projected to maintain long-term optimistic growth, with the 3A game market expected to reach 13.3 billion yuan in 2025 and 16.9 billion yuan in 2026, with a CAGR of 35% anticipated from 2027 to 2028 [9] Group 5: Company Earnings - Cambrian reported a net profit of 1.038 billion yuan in the first half of 2025, compared to a loss of 530 million yuan in the same period last year [12] - North Rare Earth's net profit surged by 1951.52% year-on-year to 931 million yuan in the first half of 2025 [12] - Light Media's net profit increased by 371.55% year-on-year to 2.229 billion yuan in the first half of 2025 [12]

Investment Rating - The industry investment rating is maintained as "Add" [5] Core Viewpoints - The report indicates that the supply of antimony is expected to continue declining due to reduced production from major mines, while demand from photovoltaic glass is projected to decrease in 2025. However, traditional demand from flame retardants and lead-acid batteries is expected to remain stable [3][37] - The report suggests that the recent tightening of antimony exports may be nearing its end, and a return to normal purchasing patterns in the photovoltaic sector could enhance price elasticity [3][41] - The long-term outlook for antimony prices is positive, driven by strong supply-demand fundamentals and geopolitical factors that may amplify supply-demand imbalances [3][41] Supply and Demand Summary - In July, domestic antimony ingot production was 3,729 tons, a year-on-year decrease of 36% and a month-on-month decrease of 25%. For the first seven months of the year, production totaled 40,300 tons, down 6% year-on-year [2][23] - The report updates the supply-demand balance for 2025-2027, forecasting supply to be 11.2, 11.9, and 12.7 million tons, while demand is expected to be 13.1, 13.9, and 14.8 million tons, indicating a persistent supply-demand gap [3][39] - The report highlights that July antimony ore imports were 2,307 tons, a year-on-year decrease of 37%, while the average import price rose by 48% month-on-month to 35,400 yuan per ton [12][23] Price Outlook - As of August 22, domestic antimony concentrate prices remained stable at 152,000 yuan per ton, while external prices decreased by 3% to 493,000 yuan per ton. The price gap between domestic and external markets is 310,000 yuan per ton [10][12] - The report anticipates that the antimony industry will experience a high price run in the medium to long term due to its strategic metal attributes and ongoing geopolitical tensions [3][41] Investment Recommendations - The report recommends focusing on mining companies with quality resources that are likely to benefit from the upward trend in the antimony industry, specifically mentioning Huayu Mining and Huaxi Nonferrous [4][41]

证券代码：600301 股票简称：华锡有色 编号：2025—053 和交流，广泛听取投资者的意见和建议。 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： ● 会议召开时间：2025 年 8 月 28 日（星期四）11:00-12:00 ● 会 议 问 题 征 集 ： 投 资 者 可 于 2025 年 8 月 27 日 前 访 问 网 址 https://eseb.cn/1r1iyOi0NZm 或使用微信扫描下方小程序码进行会前提问，公 司将通过本次业绩说明会，在信息披露允许范围内就投资者普遍关注的问题进行 回答。 1 ● 会议召开地点：价值在线（www.ir-online.cn） ● 会议召开方式：网络互动方式 一、说明会类型 广西华锡有色金属股份有限公司（以下简称"公司"）已于 2025 年 8 月 15 日在上海证券交易所网站（www.sse.com.cn）披露了《广西华锡有色金属股份有 限公司 2025 年半年度报告》及《广西华锡有色金属股份有限公司 2025 年半年度 报告摘要》。为便于广大投资者更加全 ...

Investment Ratings - The report does not explicitly provide investment ratings for the industries discussed [2][3][4][5][6]. Core Insights - The copper market shows a stable upward trend with expectations of demand recovery in mid-September, despite current seasonal weakness [15]. - The aluminum sector is stabilizing at the bottom, with a slight increase in processing rates among leading companies [16]. - The gold market remains highly active, influenced by international geopolitical developments and trade agreements [17]. - The rare earth sector is experiencing significant price increases and regulatory changes, indicating a bullish outlook [35]. - The antimony market is expected to see price recovery due to improved export expectations and domestic production cuts [36]. - The molybdenum market is witnessing price increases driven by rising demand from steel manufacturers [37]. Summary by Sections 1. Base and Precious Metals Market Overview - Copper prices decreased slightly, with LME copper at $9734.50 per ton and SHFE copper at ¥78,700 per ton [15]. - Aluminum prices also fell, with LME aluminum at $2593.00 per ton and SHFE aluminum at ¥20,600 per ton [16]. - Gold prices showed a minor increase, with COMEX gold at $3383.50 per ounce [17]. 2. Base and Precious Metals Fundamental Updates 2.1 Copper - The copper processing fee index dropped to -$41.15 per ton, and domestic copper inventory decreased by 0.2 thousand tons to 13.17 thousand tons [15]. - The operating rate in the copper industry fell by 7.39% to 52.1% due to raw material shortages [15]. 2.2 Aluminum - Domestic aluminum ingot inventory decreased by 1.1 thousand tons to 596 thousand tons, while the operating rate for aluminum processing companies rose by 0.5% to 60.0% [16]. - The complete cost of electrolytic aluminum is ¥16,718 per ton, with industry profits around ¥3,960 per ton [16]. 2.3 Precious Metals - The gold market is influenced by international trade agreements and geopolitical tensions, maintaining a volatile trading environment [17]. 3. Minor Metals and Rare Earth Market Overview - The rare earth sector is seeing price increases, with praseodymium-neodymium oxide at ¥622,300 per ton, up 11.61% [35]. - Antimony prices are expected to recover due to improved export conditions and domestic production cuts [36]. - Molybdenum prices are rising as demand from steel manufacturers increases, with molybdenum concentrate prices at ¥4,420 per ton [37]. 4. Minor Metals and Rare Earth Fundamental Updates 4.1 Rare Earth - Regulatory changes in the rare earth industry are expected to enhance market conditions, with significant price increases anticipated [35]. 4.2 Antimony - The antimony market is poised for recovery, supported by export expectations and production cuts [36]. 4.3 Molybdenum - Molybdenum prices are on the rise due to increased demand from the steel sector, with a notable recovery in steel procurement volumes [37].

Group 1 - The core viewpoint of the article highlights the recent movements of social security funds in the A-share market, revealing that they have entered the top ten circulating shareholders of 71 new stocks in the second quarter of 2025 [1] - Su Shi Testing has the highest number of new social security fund holdings, with 3 new holdings, while Shanghai Jahwa and Xin Qiang Lian each have 2 new holdings [1] - The article provides a detailed list of companies that have seen new social security fund investments, including their respective shareholding numbers, quantities, and market values [2][3][4][5] Group 2 - Specific companies mentioned include Su Shi Testing with 1,486.20 thousand shares valued at 213 million yuan, Shanghai Jahwa with 1,150.51 thousand shares valued at 242 million yuan, and Xin Qiang Lian with 555.56 thousand shares valued at 199 million yuan [2][3] - Other companies with new social security fund holdings include Hengdian East Magnetic, Nuofushin, and Baichu Electronics, each with 1 new holding, along with their respective share quantities and market values [2][3][4] - The article lists a total of 71 companies that have received new investments from social security funds, indicating a diverse range of industries from agriculture to electronics and pharmaceuticals [2][3][4][5]

有色金属ETF基金（516650）跟踪的中证细分有色金属产业主题指数，聚焦黄金、铜、铝等工业金属， 稀土与钨钼等小金属，以及锂钴等能源金属，各金属权重为：铜28.7%、黄金14.4%、铝15.5%、稀土 11.6%、锂7.6%。 （文章来源：每日经济新闻） 8月20日，三大指数涨跌不一，锡、钨等细分有色金属走强。截至10:10，有色金属ETF基金（516650） 涨1.24%，其持仓股华锡有色涨9.96%，早盘一度冲击涨停，华钰矿业涨超8%，锡业股份、博威合金、 厦门钨业等股纷纷走强。值得注意的是，有色金属ETF基金（516650）连续4日获资金布局，累计申购 金额达1169万元。 消息面上，昨日华锡有色发布半年报数据显示，上半年公司共实现营业收入27.87亿元，同比增长 23.66%，实现净利润3.82亿元，同比增长9.49%。 ...

（文章来源：证券时报网） 华锡有色股价创出历史新高，截至9:36，该股上涨2.89%，股价报27.06元，成交量286.62万股，成交金 额7662.95万元，换手率1.04%，该股最新A股总市值达171.17亿元，该股A股流通市值74.51亿元。 证券时报·数据宝统计显示，华锡有色所属的有色金属行业，目前整体涨幅为0.42%，行业内，目前股价 上涨的有74只，涨幅居前的有云南锗业、金力永磁、金田股份等，涨幅分别为8.48%、8.04%、7.31%。 股价下跌的有62只，跌幅居前的有江南新材、永茂泰、铂科新材等，跌幅分别为5.13%、3.16%、 2.89%。 公司发布的半年报数据显示，上半年公司共实现营业收入27.87亿元，同比增长23.66%，实现净利润 3.82亿元，同比增长9.49%，基本每股收益为0.6000元，加权平均净资产收益率9.11%。（数据宝） ...

Group 1 - Tin is recognized as a "computing metal" due to its essential role in chip soldering and integrated circuit manufacturing, benefiting from the rapid growth in AI technology and computing power demand [1][1] - Over 65% of tin consumption is attributed to solder, with increased usage in AI servers, HBM, and advanced packaging, indicating a strong market demand [1][1] - The company has not reported sales of indium ingots in the first half of 2025, suggesting that they are being held as inventory, with operational adjustments based on market conditions and strategic planning [1][1]