截至2026年2月13日收盘，江钨装备（600397）报收于15.49元，较上周的10.99元上涨40.95%。本周， 江钨装备2月13日盘中最高价报15.74元，股价触及近一年最高点。2月9日盘中最低价报10.82元。本周共 计2次涨停收盘，无跌停收盘情况。江钨装备当前最新总市值153.34亿元，在煤炭开采板块市值排名 19/30，在两市A股市值排名1391/5189。 本周关注点 江西钨业控股集团有限公司和江西省投资集团有限公司回复江钨装备股票交易异常波动问询函，表示除 已披露的2026年度向特定对象发行A股股票事项外，无其他应披露未披露的重大信息，且在本次股价异 动期间未违规买卖公司股票。 江钨装备公告称，公司股票于2026年2月10日至2月12日连续三个交易日收盘价涨幅偏离值累计达20%， 构成异常波动。公司目前生产经营正常，主营业务未发生变更。公司正筹划向包括控股股东江钨控股在 内的不超过35名特定投资者发行A股股票，发行数量不超过发行前总股本的30%，募集资金总额不超过 188,195.26万元，用于收购江西江钨硬质合金有限公司、赣州华茂钨材料有限公司、九江有色金属冶炼 有限公司各100%股权。该 ...

Group 1 - The stock price of Jiang Tung Equipment (600397) closed at 15.49 yuan on February 13, 2026, marking a historical high with an increase of 8.25% on that day and a cumulative rise of 40.95% over the past five days, despite the company expecting a net loss of 258 million to 308 million yuan for the full year of 2025 and having reported losses for three consecutive years from 2023 to 2025 [1] - The strong stock performance is primarily driven by expectations of a significant asset restructuring, with the company announcing plans to raise no more than 1.882 billion yuan through a targeted issuance to acquire 100% equity of Jiang Hard Company, Huamao Company, and Jiuye Company, which are projected to achieve a combined net profit of approximately 132 million yuan in 2025 [1] - The acquisition will add tungsten and tantalum-niobium product businesses, facilitating the company's transition from coal trading to a dual main business model of "magnetic separation equipment + new materials," which is viewed positively by the market regarding resource integration prospects [1] Group 2 - The trading environment is characterized by intense capital competition, with a single-day transaction volume of 2.717 billion yuan and a turnover rate of 17.62% on February 13, 2026, despite a net outflow of 408 million yuan from main funds, retail and speculative funds collectively saw a net inflow of 408 million yuan, indicating active participation from short-term speculative investors [2] - Technical indicators are strong, with the stock price breaking through all key moving averages (5-day, 20-day, and 60-day), the MACD histogram remaining positive, and the KDJ indicator's J line reaching 107.27, indicating an overbought condition, which supports short-term upward momentum [2] Group 3 - The small metals sector has recently shown active performance, with stocks like Zhangyuan Tungsten Industry (002378) hitting the daily limit, and stocks related to power grid equipment and state-owned enterprise reform being favored by investors, making Jiang Tung Equipment, as a small-cap stock with a circulating market value of 15.3 billion yuan, more susceptible to sector sentiment [3] - The company's transformation direction aligns with policy-supported areas such as high-end equipment and new materials, leading to high growth expectations from the market after shedding its loss-making coal business [3] Group 4 - Attention is needed regarding whether the targeted issuance plan can successfully pass regulatory approval from the Shanghai Stock Exchange and the China Securities Regulatory Commission, as well as the profitability stability of the acquired assets [4] - The company faces significant short-term financial risks, with a debt-to-asset ratio of 88.28% and a current ratio of 0.52 as of the third quarter of 2025, indicating substantial repayment pressure [4] - If the transformation does not meet expectations, the company may continue to experience performance losses [4]

责任编辑：小浪快报 2026年2月13日，江钨装备（sh600397）触及涨停，涨停价15.74元，涨幅9.43%，总市值155.03亿元，流 通市值155.03亿元，截止发稿，总成交额9.84亿元。 声明：市场有风险，投资需谨慎。本文为AI大模型基于第三方数据库自动发布，任何在本文出现的信 息（包括但不限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成 个人投资建议。受限于第三方数据库质量等问题，我们无法对数据的真实性及完整性进行分辨或核验， 因此本文内容可能出现不准确、不完整、误导性的内容或信息，具体以公司公告为准。如有疑问，请联 系biz@staff.sina.com.cn。 根据喜娜AI异动分析，江钨装备涨停原因可能如下，产业链整合+业务多元化+控股股东支持： 1、公司 拟收购三家钨/钽铌企业，完善产业链布局，预计2025年合计净利润1.3亿元，且新增钨制品及钽铌制品 业务，进入硬质合金、半导体材料等新兴领域，实现业务多元化，降低单一业务风险。同时，控股股东 江钨控股承诺认购20%-40%定增股份，显示对公司发展的信心。 2、标的公司业务属国家鼓励发展的战 略性新兴产业，可 ...

Group 1 - Jiangte Equipment (600397.SH) experienced a 4.96% increase in stock price, reaching 15.020 yuan, marking a historical high [1] - The company's total market capitalization is 14.869 billion yuan [1]

Group 1 - The core viewpoint highlights the focus on policy support and market dynamics in China's natural resources sector, with the Ministry of Natural Resources announcing reforms to accelerate project implementation and regional collaboration [1] - In Sichuan Province, a new round of mineral exploration has progressed, with 18 cities and states investing a total of 314 million yuan, discovering over 100 million tons of resources such as phosphate and fluorite [1] - Commodity prices show mixed trends, with energy prices rising by 0.6% in early February, while mineral prices fell by 0.2%, and non-ferrous metals saw a significant decline of 2.7% [1] Group 2 - Recent stock performance in resource-related stocks is driven by policy changes and price fluctuations, with tungsten stocks like Xianglu Tungsten Industry and Zhangyuan Tungsten Industry hitting the daily limit due to expectations of price increases [1] - The land market recovery has also boosted related sectors, exemplified by high premium transactions for residential land in Chengdu, indicating the value of core regional resources [1] - Institutional analysis suggests that cyclical stocks such as tungsten and nickel are supported by supply constraints and growing demand from the new energy sector, making their earnings elasticity noteworthy [2]

股票交易异常波动公告 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： ●江西江钨稀贵装备股份有限公司（以下简称"公司"）股票于2026年2月10日、2月11日、2月12日连续3 个交易日内收盘价格涨幅偏离值累计达到20%，根据《上海证券交易所交易规则》的有关规定，属于股 票交易异常波动情形。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600397 证券简称：江钨装备公告编号：2026-019 江西江钨稀贵装备股份有限公司 （一）生产经营情况 经公司自查，公司目前生产经营活动正常，主营业务未发生变化，内外部经营环境未发生重大变化。 （二）重大事项情况 公司正在筹划2026年度向特定对象发行A股股票事项。为完善公司产业链条，提升核心竞争力，增强公 司资产质量和盈利能力，实现公司股东价值最大化，公司拟向包括公司控股股东江钨控股在内的不超过 35名（含35名）符合条件的特定投资者发行A股股票（以下简称"本次发行"），本次发行的股票发行数 量不超过本次向特定对象发行前公司总股本的30%，即不超过296, ...

Group 1 - Fuda Alloy's controlling shareholder Wang Dawu plans to reduce his stake by up to 3% of the company's total shares, amounting to a maximum of 406.34 million shares, due to personal funding needs [1] - ST Songfa's subsidiary signed contracts for the construction of 17 vessels, with a total contract value between 1.6 billion to 1.8 billion USD [2] - Pairui Co. signed a technical cooperation agreement with a university to develop large-capacity power semiconductor devices and related power electronic modules, effective for three years [3] Group 2 - Shuangliang Energy indirectly participates in commercial aerospace projects, supplying heat exchangers for SpaceX's fuel production system, with orders totaling approximately 1.39 million CNY [4] - Hangya Technology plans to issue convertible bonds to raise up to 600 million CNY for various projects, including an intelligent manufacturing base in Malaysia [5] - Yuhua Development is publicly selling assets with a base price of 251 million CNY for residential properties [6] Group 3 - Penghui Energy plans to invest 2.1 billion CNY in a new battery production project in Zhengyang County, Henan Province, focusing on high-performance battery products [7] - Haige Communication's shareholder Yang Haizhou intends to reduce his stake by up to 0.1624% of the company's total shares [8] - Yaoshi Technology's controlling shareholder pledged 5.13% of shares to repay loans, with a pledge period from February 10, 2026, to February 2, 2027 [9][10] Group 4 - Hanyu Pharmaceutical received FDA approval for its drug Acetate Glatiramer Injection, used for treating relapsing multiple sclerosis [11] - Baiyao Tai's GoliMab Injection received EMA approval for various indications, including rheumatoid arthritis and ulcerative colitis [12] - Jiangxi Tungsten Equipment plans to issue A-shares to raise up to 1.882 billion CNY for acquisitions [13] Group 5 - Hesong New Materials expects to recognize asset impairment provisions between 23.6 million to 28.5 million CNY for 2025 [14] - ST Meichen's subsidiary is involved in two major lawsuits with a total amount of approximately 31.9 million CNY [15] - China Coal Energy reported a 7.3% year-on-year decline in coal sales for January 2026, with total sales of 20.05 million tons [16] Group 6 - Yida Co. plans to adjust its epoxy propylene derivative project, reducing the total investment from 845 million CNY to 642 million CNY [17] - Fosun Pharma's subsidiary received approval for a clinical trial of HLX15-SC for multiple myeloma treatment [18][19] - Yinfeng Communication's board members and executives have terminated their share reduction plan [20] Group 7 - Huazhong High-tech has waived its preferential purchase rights for a fund, extending the investment period from three to four years [21] - Warner Pharmaceuticals plans to participate in a national drug procurement program, with expected sales of 176 million CNY [22] - Changling Hydraulic announced a tender offer to acquire 12% of its shares at a price of 35.82 CNY per share [23] Group 8 - ST Chuan Zhi's stock may face delisting due to financial data falling below regulatory thresholds [24] - Tian Pharmaceutical and its subsidiaries are participating in a national drug procurement program, with expected sales of 323 million CNY [25] - China Metallurgical Group signed new contracts worth 73.65 billion CNY in January 2026 [26] Group 9 - Torus plans to invest 21.2 million CNY in a venture capital fund focused on artificial intelligence [27] - Shangwei Co. received a government subsidy of 1.764 million CNY, representing 10.79% of its net profit for 2024 [28] - Hanghua Co. reported a 21.97% decline in net profit for 2025, with total revenue of 1.249 billion CNY [29] Group 10 - Huaxia Bank reported a 1.72% decline in net profit for 2025, with total revenue of 91.914 billion CNY [30] - Guotou Fengle plans to transfer 51% of its stake in Hubei Fengle Ecological Fertilizer to optimize management [31] - Huaru Technology is co-investing in a fund with a total commitment of 20 million CNY [32] Group 11 - Jindike reported a loss of 173 million CNY for 2025, despite a 40.13% increase in revenue [33] - Zhenong Co. announced a 0.52% increase in shares held by a major shareholder [34] - Maike Audi plans to recognize asset impairment provisions of approximately 52.55 million CNY [35] Group 12 - Fuan Pharmaceutical's subsidiary is expected to be selected for a national drug procurement program, with projected sales of 680 million CNY [36] - Rundu Co. is participating in a national drug procurement program, with some products expected to be selected [37] - Changqing Co. has postponed its large-scale die-casting project to March 2027 due to customer requirements [38] Group 13 - Pan Asia Micro透 received a patent for a graphene-based automotive headlight defogging device [39] - Luan An Huan Neng reported a 17.1% increase in raw coal production for January 2026, totaling 5 million tons [40] - Guangji Pharmaceutical received a drug registration certificate for Mecobalamin Tablets [41] Group 14 - Ruifeng New Materials announced the resignation of its deputy general manager for personal reasons [42] - Zhiguang Electric's subsidiary signed a procurement contract for energy storage equipment worth 210.4 million CNY [43] - Youyan Powder Materials reported a 19.41% increase in net profit for 2025 [44] Group 15 - Jincheng reported a 22.2% increase in net profit for 2025, with total revenue of 253 million CNY [46]

Core Viewpoint - Tungsten, known as "industrial teeth," is experiencing a surge in demand and price due to supply constraints and strong market demand [1][2]. Group 1: Price Increases - The long-term procurement prices for tungsten products have significantly increased, with 55% black tungsten concentrate rising by 28.1% to 670,000 CNY/ton and 55% white tungsten concentrate increasing by 28.2% to 669,000 CNY/ton [2][3]. - Ammonium paratungstate (standard grade zero) long-term procurement price rose by 27.6% to 970,000 CNY/ton [2]. Group 2: Supply and Demand Dynamics - Domestic mining operations are conservatively producing, leading to a weak market increment expectation and further price adjustments for long-term contracts [2]. - The supply side is facing tightening due to stricter safety and environmental regulations, resulting in decreased production and shipments from some mines [2][3]. - Demand remains stable, primarily driven by essential purchases, particularly in the PCB tool sector [2]. Group 3: Future Price Outlook - Institutions are optimistic about the future price of tungsten, with expectations for continued strong performance and new highs [3]. - The global tungsten production is projected to increase from 82,800 tons in 2025 to 89,900 tons by 2028, while demand is expected to rise from 102,100 tons to 110,000 tons, indicating a potential supply-demand gap [3]. Group 4: Stock Market Response - A-share tungsten concept stocks have reacted positively to the price increases and supply-demand changes, with several stocks hitting the daily limit [4]. - Notable performers include Xianglu Tungsten Industry and Zhangyuan Tungsten Industry, both of which saw significant price increases [4][5]. - Xianglu Tungsten Industry has achieved a cumulative increase of 166.32% this year, reflecting strong market interest [5].

证券代码：600397 证券简称：江钨装备 公告编号：2026-019 江西江钨稀贵装备股份有限公司 股票交易异常波动公告 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： ●江西江钨稀贵装备股份有限公司（以下简称"公司"）股票于 2026 年 2 月 10 日、 2 月 11 日、2 月 12 日连续 3 个交易日内收盘价格涨幅偏离值累计达到 20%，根据《上海 证券交易所交易规则》的有关规定，属于股票交易异常波动情形。 ●公司正在筹划 2026 年度向特定对象发行 A 股股票事项，并于 2026 年 2 月 12 日 在上海证券交易所网站（www.sse.com.cn）发布了《江西江钨稀贵装备股份有限公司关 于 2026 年度向特定对象发行 A 股股票预案披露的提示性公告》（公告编号：2026-011）。 本次向特定对象发行 A 股股票事项尚需募集资金投资项目有关审计、评估等工作完成后 再次召开董事会审议通过、公司股东会审议通过、获得有权国资审批单位批准、经上海 证券交易所审核通过并报中国证监会同意注册后方可 ...

江西钨业控股集团有限公司 关于对江钨装备股票交易异常波动情况 核查的回复函 江西江钨稀贵装备股份有限公司: 你公司《关于对江钨装备股票交易异常波动情况核查的 问询函》收悉,经核查,回复如下: 关于对江钨装备股票交易异常波动情况 核查的复函 江西钨业控股集团有限公司: 你公司《关于对江钨装备股票交易异常波动情况核查的间询 函》收悉,经核查,回复如下: 1.除江钨装备已披露的关于 2026年度向特定对象发行 A 股 股票的重大事项外,截至目前,我公司不存在关于江钨装备相关 的应披露而未披露的重大信息,包括但不限于重大资产重组、股 份发行、重大交易类事项、业务重组、股份回购、股权激励、破 产重整、重大业务合作、引进战略投资者等重大事项。 2.本次股票交易异常波动期间,我公司未发生违规买卖江钨 装备股票的行为。 特此回复。 江市 1. 除你公司已披露的关于 2026年度向特定对象发行 A 股股票的重大事项外,截至目前,我公司不存在关于江钨装 备相关的应披露而未披露的重大信息,包括但不限于筹划与 江钨装备相关的重大资产重组、股份发行、重大交易类事项、 业务重组、股份回购、股权激励、破产重整、重大业务合作、 引进战略投资 ...