证券代码：600366 证券简称：宁波韵升 编号：2026—001 截至本公告披露日，公司使用暂时闲置募集资金进行现金管理已全部到期 赎回，使用闲置募集资金进行现金管理的单日最高余额及使用期限均未超过公 司董事会授权范围。 特此公告。 宁波韵升股份有限公司 董 事 会 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。 宁波韵升股份有限公司（以下简称"公司"）于 2025 年 1 月 15 日召开第 十一届董事会第六次会议、第十一届监事会第五次会议，审议通过了《关于使 用暂时闲置的募集资金进行现金管理的议案》，同意公司使用非公开发行股份 募集资金适时购买安全性高、流动性好、有保本约定的理财产品，最高额度不 超过 5.5 亿元。保荐机构对闲置募集资金进行现金管理出具了同意的核查意见。 具体内容详见公司于 2025 年 1 月 16 日在上海证券交易所网站及指定信息披露 媒体披露的《关于使用暂时闲置募集资金进行现金管理的公告》（公告编号： 2025-006）。 公司于 2025 年 1 月 18 日披露了《关于使用暂时闲置募集资金进行 ...

1月7日，宁波韵升盘中上涨2.07%，截至09:47，报14.32元/股，成交1.86亿元，换手率1.19%，总市值 157.38亿元。 资金流向方面，主力资金净流入930.69万元，特大单买入593.03万元，占比3.19%，卖出979.36万元，占 比5.26%；大单买入3970.06万元，占比21.34%，卖出2653.04万元，占比14.26%。 截至9月30日，宁波韵升股东户数15.72万，较上期增加19.03%；人均流通股6763股，较上期减少 15.99%。2025年1月-9月，宁波韵升实现营业收入39.10亿元，同比增长7.03%；归母净利润2.76亿元，同 比增长299.04%。 分红方面，宁波韵升A股上市后累计派现18.02亿元。近三年，累计派现2.19亿元。 机构持仓方面，截止2025年9月30日，宁波韵升十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股1348.75万股，相比上期增加218.53万股。前海开源沪港深核心资源混合A（003304）位居 第四大流通股东，持股1188.07万股，相比上期增加564.45万股。嘉实中证稀土产业ETF（516150）位居 第六大流通 ...

证券日报网讯1月6日，宁波韵升（600366）在互动平台回答投资者提问时表示，公司2025年员工持股计 划已于12月初完成了非交易过户，具体情况可以参见相关公告。公司不持有稀土矿产，因此原材料涨价 会对公司生产成本造成一定影响，公司与客户建立了一定的调价机制，会努力减少原材料涨价对公司业 绩的影响。 ...

证券日报网讯1月6日，宁波韵升（600366）在互动平台回答投资者提问时表示，在消费电子类下游应用 中，公司目前的客户终端以海外品牌为主，公司会努力扩大在国产品牌中的市场份额。根据公司目前掌 握的情况，手机中使用钕铁硼永磁材料的部件/组件，以振动马达/手机VCM/听筒等传统组件为主，不 涉及AI相关功能。 ...

证券日报网讯1月6日，宁波韵升（600366）在互动平台回答投资者提问时表示，目前公司仍在进行财务 核算工作。根据核算结果，如符合需要发布年度业绩预告情形的，公司会在1月底前发布业绩预告。 ...

Group 1 - Ningbo Yunsheng's stock price decreased by 1.08% to 13.76 CNY per share, with a total market capitalization of 15.123 billion CNY and a trading volume of 4.8415 million CNY [1] - The company specializes in the research, manufacturing, and sales of neodymium-iron-boron permanent magnetic materials, with 88.37% of its revenue coming from this core business [1] - The company is recognized as a leading global supplier of rare earth permanent magnet material application solutions [1] Group 2 - Qianhai Kaiyuan Fund's Q3 report shows that its fund increased its holdings in Ningbo Yunsheng by 5.6445 million shares, totaling 11.8807 million shares, representing 1.12% of the circulating shares [2] - The fund has experienced a year-to-date return of 68.07%, ranking 473 out of 8087 in its category [2] - The fund manager, Wu Guoqing, has a tenure of over 10 years, with the fund's best return during this period being 387.39% [3] Group 3 - Ningbo Yunsheng is the sixth largest holding in Qianhai Kaiyuan's fund, accounting for 7.41% of the fund's net value [4] - The estimated floating loss for the fund from its investment in Ningbo Yunsheng is approximately 1.7821 million CNY [4]

Core Insights - The report highlights the positive outlook for strategic metals investment opportunities due to favorable supply-demand dynamics and resource nationalism [3][5][11]. Market Review: Strategic Metals Lead Nonferrous - From the beginning of the year until December 18, 2025, the nonferrous metals sector has risen by 78.53%, ranking second among all industries. Strategic metals have shown significant gains, with tungsten up 136.7%, cobalt up 69.1%, and rare earth permanent magnets up 56.7% [7]. Cobalt: Supply Tightening from Congo (DRC) - The Democratic Republic of Congo (DRC) has implemented an export quota system for cobalt, leading to a projected supply-demand imbalance of -7.5/-3.3/-3.3 million tons for 2025-2027. The DRC's export ban and subsequent quota system are expected to keep cobalt prices elevated [3][14][16]. Rare Earths: Supply Expectations Tightening - The rare earth sector is experiencing tightening supply due to strategic export controls and a lack of public quota announcements. The price of light rare earths has seen fluctuations, with a peak price of 64.30 million yuan/ton for praseodymium and neodymium oxides in August 2025, followed by a decline [22][26][46]. Tungsten: Continued Supply-Demand Gap - The tungsten market is facing a supply squeeze due to mining restrictions and declining ore grades. Demand remains stable, supported by applications in military and photovoltaic sectors, suggesting that tungsten prices are likely to rise [3][5]. Tin: Supply Tightness and AI Demand Growth - The resumption of tin production in Myanmar is slow, with significant delays expected. However, the rapid development of AI is emerging as a new growth driver for tin demand [3][5]. Antimony: Export Recovery Expected - The suspension of export restrictions to the U.S. is anticipated to boost China's antimony exports, which currently account for 36% of its production. The lifting of these restrictions is expected to enhance export volumes significantly [5]. Investment Recommendations - The report suggests focusing on companies benefiting from the tightening supply of strategic metals, including Huayou Cobalt, China Rare Earth, and Xiamen Tungsten. Specific recommendations include companies with significant cobalt production quotas in the DRC and those involved in rare earth processing [5][3].

证券代码：600366 证券简称：宁波韵升 编号：2025—075 | 序 | | | 金额 | | 产品起 | 产品到期 | | 赎回情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 号 | 受托机构 | 产品名称 | （万元） | 产品类型 | 息日 | 日 | 实际赎回日 | 赎回金额 （万元） | 实际收益 （万元） | | 1 | 方正证券 股份有限 | 方正证券 收益凭证 | 2,000.00 | 保本浮动收 | 2025/7/ | 2025/12/2 | 2025/12/24 | 2,000.00 | 17.52 | | | 公司 | 金添利 FD25078号 | | 益凭证 | 24 | 4 | | | | | 2 | 中国银行 鄞州分行 | 大额可转 让存单 | 10,000.00 | 保本固定收 益型 | 2025/1/ 17 | 2026/8/4 （可随时 | 2025/12/23 | 10,000.00 | 278.78 | | | | | | | | 转让） | | | | | 3 | 中国银 ...

Group 1 - The energy metal sector is experiencing a surge in demand driven by a dual catalyst of supply restructuring and explosive demand, particularly in the context of energy storage [1][2] - Major resource countries are actively managing supply through policies such as quotas and licenses, aiming to gain control over resource pricing [1][2] - The demand for carbonated lithium in the energy storage sector is projected to reach approximately 345,000 tons by 2025 and is expected to exceed 500,000 tons by 2026, marking a tenfold increase from 2021 [2] Group 2 - In the lithium sector, the industry is undergoing a deep clearing with a slowdown in capital expenditure, indicating clear bottom signals. The sustained demand for energy storage is expected to drive a tight balance in global carbonated lithium supply and demand by 2026, making lithium prices more likely to rise [2][3] - Cobalt prices are entering an upward channel due to supply management, while nickel prices, despite being suppressed by high inventory, have dropped to deep cost curve levels, with Indonesia's supply management laying the groundwork for future price recovery [2][3] - The domestic production index control for rare earth materials is tightening supply, while resilient demand from downstream sectors such as new energy vehicles and wind power supports a strong price environment [2][3] Group 3 - Recommended companies in the lithium sector include Ganfeng Lithium, Tianqi Lithium, Zhongjin Lingnan Nonfemet Company, Yongxing Materials, and Shengxin Lithium Energy [3][4] - For cobalt and nickel, Huayou Cobalt is highlighted as a potential beneficiary due to strengthened supply-side policies and the industry being at a long-term bottom [3][4] - In the rare earth magnetic materials sector, companies such as Ningbo Yunsheng and Jieli Permanent Magnet are suggested as beneficiaries due to supply tightening and stable high-end demand [3][4]

Core Insights - The establishment of the "Rare Earth NATO" alliance aims to reduce reliance on China for rare earth materials, with representatives from eight countries, including Japan, South Korea, and Australia, signing the agreement [1] - China's strategic move to issue general export licenses to companies like Jinko Solar and Ningbo Yunsheng is seen as a tactical response to the geopolitical landscape, highlighting the potential risks for the U.S. defense industry if it loses access to Chinese magnetic materials [3] - The U.S. Department of Defense is facing significant costs in its efforts to develop a domestic rare earth supply chain, with a guaranteed purchase price of $110 per ton, which is 2.3 times the international market price [3] - Investment banks like JPMorgan and Goldman Sachs are betting on government subsidies to support domestic mining operations, indicating a lack of market competitiveness for U.S. mining companies reliant on government backing [3] - Lynas's operations in Malaysia are significantly more expensive than Chinese counterparts, with capital expenditures 3 to 5 times higher and an additional 50% premium due to environmental compliance costs, suggesting that the push for a de-China supply chain may lead to inflationary pressures [4] - The U.S. is incurring five times the cost to rebuild a mature industry that China has already mastered, raising concerns about the long-term viability of U.S. efforts to establish a competitive rare earth supply chain [6] - The potential establishment of an exclusive certification system by the U.S. and Europe could undermine China's cost advantages in the rare earth sector, posing risks to its market share and leading to overcapacity issues [6] - The geopolitical strategy of the U.S. aims to drive global inflation to 600% to sever supply chains, raising questions about the effectiveness of permits held by companies as either a weapon against competitors or a safeguard for their own interests [7]