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贵研铂业获融资买入0.24亿元,近三日累计买入0.62亿元
Jin Rong Jie· 2025-08-06 00:13
最近三个交易日,1日-5日,贵研铂业分别获融资买入0.11亿元、0.27亿元、0.24亿元。 融券方面,当日融券卖出0.03万股,净买入0.35万股。 8月5日,沪深两融数据显示,贵研铂业获融资买入额0.24亿元,居两市第704位,当日融资偿还额0.23亿 元,净买入140.96万元。 ...
国投期货国投期货期市晨报-20250805
Guo Tou Qi Huo· 2025-08-05 10:09
期市有风险,投资需谨慎 此报告版权属于国投期货有限公司 0 各项声明请参见报告尾页 | | | --- | | 1 、铂钯品种概况 | 2 | | --- | --- | | | 1.1 铂钯的自然属性 2 | | | 1.2 铂族资源的分布与分类 3 | | 2 、铂族金属产业链 6 | | | | 2.1 上游矿山资源集中度高 7 | | | 2.2 铂族材料供应与回收 11 | | | 2.3 终端应用 13 | | | 2.4 投资渠道 16 | | 3 、全球铂金供需格局 18 | | | | 3.1 全球铂金供应集中度高、弹性差 18 | | | 3.2 铂金全球平衡 19 | | 4 、全球钯金供需格局 21 | | | | 4.1 钯金供应集中度高、弹性差 21 | | | 4.2 钯金全球平衡 22 | | 5 、中国铂族资源格局 24 | | | | 5.1 我国铂族资源极度匮乏、分布集中 24 | | | 5.2 我国铂族资源对外进口依赖度高 24 | | | 5.3 我国铂族金属需求 27 | | | 5.4 铂钯进出口及税费 29 | | 6 、铂钯价格回顾 | 32 | | 7 、 ...
贵研铂业股价下跌4.49% 全资子公司引入战投引关注
Jin Rong Jie· 2025-07-31 20:17
风险提示:投资有风险,入市需谨慎。 7月31日,贵研铂业主力资金净流出3765.53万元,占流通市值的0.33%。 贵研铂业主要从事贵金属贸易和产品业务,公司成立于2000年,2003年在上海证券交易所上市。公司业 务涉及小金属、新材料等领域。 7月30日晚间,贵研铂业发布公告称,公司全资子公司贵研电子材料(云南)有限公司增资扩股项目征 集到上海怡上电子科技有限公司作为意向投资方。根据公告,投资方将出资约1.25亿元认购目标公司新 增注册资本,持有增资后49%的股权。贵研铂业表示,引入战投将带来业务资源,包括技术和现金出资 等。 截至2025年7月31日收盘,贵研铂业股价报15.11元,较前一交易日下跌0.71元,跌幅4.49%。当日成交 量为217107手,成交额达3.31亿元。 ...
“硅”“锂”后轮到铂族金属 广期所将尽快推动铂、钯期货上市
Mei Ri Jing Ji Xin Wen· 2025-07-31 15:36
Core Viewpoint - The Guangzhou Futures Exchange (GFE) is seeking public opinion on the upcoming launch of platinum and palladium futures and options contracts, addressing the urgent hedging needs of industry players due to significant price volatility in recent years [1][2][6]. Group 1: Futures and Options Launch - GFE has announced the public consultation for platinum and palladium futures and options contracts, with a deadline for feedback set for August 7, 2025 [5]. - Platinum and palladium futures will have no alternative delivery products and will implement a brand delivery system, requiring delivery products to be registered brands published by the exchange [4][11]. - The trading codes for platinum and palladium futures are "PT" and "PD," respectively, with a contract size of 1000 grams per lot and a minimum price fluctuation of 0.05 yuan per gram [13]. Group 2: Market Context and Demand - Platinum and palladium are crucial raw materials in the new energy sector, particularly in fiberglass and hydrogen energy applications, and are considered scarce resources globally [6]. - The demand for hedging in the industry has become urgent due to significant fluctuations in the spot prices of platinum and palladium in recent years [6]. - GFE has previously launched futures for industrial silicon, polysilicon, and lithium carbonate, indicating a focus on supporting green and low-carbon development [7][10]. Group 3: Delivery and Trading Rules - The delivery method for platinum and palladium futures will follow established practices in the futures market, including physical delivery and various delivery options [13]. - The quality standards for delivery will be based on national and international standards, with specific indicators for purity and impurity levels [13]. - The holding limits for positions will vary based on the trading volume, with specific limits set for both platinum and palladium contracts [14].
贵研铂业(600459):动态跟踪:持续投资聚焦核心业务,创新驱动提升经营质量
Orient Securities· 2025-07-31 12:43
Investment Rating - The report maintains a "Buy" rating for the company with a target price of 18.48 CNY, based on a 21X valuation of the estimated EPS for 2025-2027 [3][5]. Core Insights - The company is focusing on continuous investment in core businesses and innovation to enhance operational quality. The precious metals business includes manufacturing, recycling, and trading, with a significant portion of revenue coming from recycling and trading, which has lower profitability [8]. - The new materials manufacturing segment is expected to contribute significantly to profitability, with a projected 30% of revenue contributing to 56% of gross profit in 2024. The company is investing in high-margin projects, including a catalyst production line, to further enhance profitability [8]. - The global shift in the chemical industry is anticipated to benefit the company's catalyst business, as production capacity is expected to increase significantly, allowing the company to capture growing domestic demand for high-margin products [8]. Financial Summary - Revenue is projected to grow from 45,086 million CNY in 2023 to 65,789 million CNY in 2027, with a compound annual growth rate (CAGR) of approximately 8.3% [4]. - Net profit attributable to the parent company is expected to increase from 468 million CNY in 2023 to 825 million CNY in 2027, reflecting a CAGR of about 8.2% [4]. - The EPS is forecasted to rise from 0.62 CNY in 2023 to 1.08 CNY in 2027, indicating a steady growth trajectory [4].
贵研铂业全资子公司引入战投 后者注册资本1000万元,仅投过两家公司,其中一家已注销
Mei Ri Jing Ji Xin Wen· 2025-07-30 13:01
Core Viewpoint - Guiyan Platinum Industry (600459.SH) is making progress in introducing a strategic investor for its wholly-owned subsidiary, Guiyan Electronic Materials, which has faced challenges since its establishment in 2022 [1][3]. Group 1: Company Overview - Guiyan Platinum Industry was established in 2000 and is primarily engaged in precious metal trading and products, listed on the Shanghai Stock Exchange in 2003 [3]. - Guiyan Electronic Materials was set up at the end of 2022 with an investment of 110 million yuan, aimed at developing competitive surface metallization materials for the electronic components industry [3]. Group 2: Financial Performance - In 2023, Guiyan Electronic reported revenues of 21.15 million yuan but incurred a net loss of 372,600 yuan. For the first three quarters of 2024, revenue increased significantly to approximately 127 million yuan, with a net profit of 1.48 million yuan, resulting in a net profit margin of only 1.17% [3][4]. - Key financial metrics for Guiyan Electronic include total assets of 121.83 million yuan and net assets of 109.63 million yuan as of December 31, 2023, with total assets increasing to 128.93 million yuan and net assets to 110.95 million yuan by September 30, 2024 [4]. Group 3: Strategic Investment Details - The strategic investor, Shanghai Yishang Electronic Technology Co., is the sole interested party in the capital increase project, with an estimated pre-investment valuation of Guiyan Electronic at approximately 129 million yuan [5]. - The actual transaction price was set at 1.18 yuan per registered capital, with the investor contributing about 125 million yuan to acquire 49% of the company post-investment [5]. - The strategic investor has a limited track record, having only invested in two companies since its establishment in December 2019, one of which has been deregistered [6][8].
贵研铂业(600459) - 云南省贵金属新材料控股集团股份有限公司关于全资子公司贵研电子材料(云南)有限公司以公开挂牌方式引入战略投资者的进展公告
2025-07-30 09:00
证券简称:贵研铂业 证券代码:600459 公告编号:临 2025-037 云南省贵金属新材料控股集团股份有限公司 1 法定代表人:黄涛 注册资本:1000 万元 关于全资子公司贵研电子材料(云南)有限公司以公开挂牌方式 引入战略投资者的进展公告 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个别及连带责任。 一、交易进展概述 2025 年 3 月 10 日,云南省贵金属新材料控股集团股份有限公司(以下简称"公司") 召开第八届董事会第十一次会议,审议通过了《关于贵研电子材料(云南)有限公司增 资扩股并引入战略投资者的议案》,同意公司全资子公司贵研电子材料(云南)有限公 司(以下简称"贵研电子公司")通过云南省产权交易所以公开挂牌的方式增资扩股引 入战略投资者。详细情况见《关于贵研电子材料(云南)有限公司增资扩股并引入战略 投资者的公告》(临 2025-005 号)。 近期,贵研电子公司股权在云南省产权交易所公开挂牌。截至挂牌公告期满, 根 据云南省产权交易所《挂牌结果通知书》,贵研电子公司增资扩股项目在挂牌期间征集 到 1 名意向投资 ...
小金属概念股集体活跃 八大概念股盘点(名单)
Zheng Quan Zhi Xing· 2025-07-18 07:36
Group 1 - The small metal sector has shown significant activity, with a collective increase of over 3% in stock prices, particularly for companies like Dongfang Zirconium and Haotong Technology, which saw gains exceeding 5% [1] - Supply constraints are evident due to domestic export quota management for antimony, bismuth, germanium, and tungsten, alongside transportation disruptions in Myanmar, leading to a global supply gap exceeding 30% [1] - Demand for small metals is rising, driven by applications in new energy vehicles, energy storage, military high-temperature alloys, and semiconductor packaging materials, with a notable increase in consumption of cobalt and nickel sulfate [1] Group 2 - Small metals have been classified as "strategic resources" by authorities, with export controls on gallium and germanium in 2024 and additional controls on tungsten, bismuth, and antimony in 2025, leading to increased scarcity premiums [1] - Leading companies are expected to report substantial profit growth, with Northern Rare Earth projected to see a more than 18-fold increase in net profit attributable to shareholders in the first half of 2025 [1] - Securities firms express optimism, highlighting that the relaxation of export controls could lead to a convergence of domestic and international prices, benefiting the sector through both valuation and profit increases [2][3] Group 3 - Dongfang Zirconium specializes in the research, production, and sales of zirconium series products, including zirconium silicate and zirconium oxide [2] - Haotong Technology focuses on precious metal recovery and related products, with key offerings including platinum, palladium, and rhodium [2] - Shenghe Resources produces rare earth concentrates and various rare earth products, contributing to the small metal supply chain [3] Group 4 - Guiyan Platinum's product range includes various precious metal compounds such as platinum, palladium, and rhodium [3] - Xianglu Tungsten's main products consist of tungsten oxide, tungsten powder, and tungsten carbide [3] - Tin Industry Co. engages in the exploration, mining, and processing of tin, zinc, copper, and indium, offering a wide array of products [3] Group 5 - Dongfang Tantalum is involved in the research, production, and sales of rare metals like tantalum and niobium [4] - Baotai Co. is recognized as China's largest specialized producer of titanium-based rare metal materials, holding over 40% market share [4]
贵金属系列专题:供给收缩及情绪轮动下铂的配置价值凸显
Huaan Securities· 2025-07-18 06:44
1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - The platinum market faces a structural shortage, with supply contraction in South Africa, stable demand from automotive exhaust catalysts, and incremental demand from the hydrogen energy industry and jewelry sector. The global platinum market's core contradiction lies in the high dependence on South Africa for supply (accounting for over 70% of production in 2024), but reduced capital expenditure and low recycling have led to a continuous supply contraction (CAGR of -1% from 2015 - 2025). On the demand side, automotive exhaust catalysts (accounting for 43% in 2024) provide a rigid foundation, and the rapid growth of plug - in hybrid vehicles still requires PGM catalysts. The hydrogen energy industry and gold substitution (high gold prices driving platinum jewelry consumption) offer elastic growth [3]. - The influx of risk - averse funds and continuous supply disruptions have led to a continuous increase in platinum prices. Geopolitical conflicts have strengthened the financial attribute of platinum, attracting risk - averse funds. Supply disruptions have also played a catalytic role. In Q1 2025, platinum mine supply decreased by 13% year - on - year (-117,000 ounces) due to factors such as heavy rainfall and floods in South African mining areas, low smelting capacity utilization in South Africa and Zimbabwe, and mine restructuring in North America. The high gold - platinum ratio in history indicates an undervaluation of platinum's value, which may attract value investment. However, the recent continuous rise in platinum prices still depends on market consensus. If the consensus is strengthened, the value center has room for continuous upward movement, and platinum's value fluctuations largely depend on market sentiment [3]. - Investment advice: On the supply side, short - term production cuts in South Africa cause supply fluctuations, and inventory is currently at a low level. In the long - term, low capital expenditure leads to supply contraction, and high supply concentration poses certain risks. On the demand side, traditional industrial demand is relatively stable, and the rapid growth of plug - in hybrid vehicles still requires PGM catalysts. High gold prices promote platinum substitution in the jewelry field. It is recommended to focus on the "resources + technology" line and pay attention to relevant companies [3]. 3. Summary According to the Table of Contents 3.1 Platinum Metal Properties and Industrial Chain Structure - Platinum group metals include platinum, palladium, rhodium, etc., with high melting points, high strength, excellent thermoelectric stability, high - temperature oxidation resistance, and corrosion resistance. Platinum and palladium have strong gas adsorption capacity and excellent catalytic properties, and are widely used in automotive exhaust catalysts, jewelry, electronic components, and chemical catalysts [8]. 3.2 Supply - Demand Contradictions Are Prominent, and Structural Shortage Intensifies Supply - Platinum ore supply is relatively concentrated, with South Africa accounting for about 70% of production. In 2024, global platinum ore production was 170 tons, with South Africa producing 120 tons, accounting for 70.6% of the global total. In terms of reserves, South Africa accounted for 88.73% of the global platinum - group metal reserves in 2023. Due to reduced capital expenditure in platinum ore projects and low recycling enthusiasm in the past decade, the total platinum supply is expected to fall below 7 million ounces in 2025, with a CAGR of -1% from 2015 - 2025 [13]. Demand - Platinum has obvious industrial attributes, and automotive exhaust purification demand accounts for about 40%. In 2024, the demand for platinum in automotive exhaust purification accounted for 43%. The hydrogen energy industry may become a future trend, and the growth of hybrid vehicle demand will also bring benefits. Although the demand for platinum in the automotive field is expected to remain high in the long - term, economic prospects are still uncertain [19]. - Jewelry demand has a small base but considerable elastic space. High gold prices have affected gold jewelry demand, and platinum jewelry is expected to fill the gap. The gold - platinum ratio exceeded 3 in February 2025 and回调 to about 2.46 as of July 1. According to WPIC, the year - end inventory is expected to drop sharply, leading to a tightening of market supply, and platinum may become a hedging product [24]. 3.3 Influx of Risk - Averse Funds + Continuous Supply Disruptions, Platinum Prices Rise Continuously - Platinum prices have shown a strong upward trend recently, with an increase of about 34% in the past two months, reaching a high level in the past 10 years. Future price trends still need to pay attention to the impact of economic data on precious metal prices [28]. - Supply disruptions and the gold substitution effect have led to the recent rise in platinum prices. On the supply side, South Africa, which supplies about 70% of platinum production, has been affected by bad weather, restricting mining and refining operations, and recycling metal supply is also at a low level. On the demand side, in addition to the basic demand for platinum as an automotive exhaust catalyst, the substitution effect of platinum jewelry for gold jewelry is obvious, and investment demand and the hedging attribute of platinum have attracted investors. The hydrogen energy concept also gives platinum a certain bullish attribute [31]. - The gold - platinum ratio is at a historical high, and the future price center still depends on market consensus. Gold and platinum prices diverged about a decade ago, with gold's financial attribute becoming prominent while platinum focused on industrial attributes. Around 2013, platinum prices recovered due to supply contraction, increased industrial and investment demand, and a shift in market sentiment. Currently, the gold - platinum ratio is at a historical high, and platinum is undervalued. Whether it can attract value investment depends on market consensus, and platinum's value fluctuations largely depend on market sentiment [38]. 3.4 Core Targets: Guiyan Platinum Industry, Haotong Technology, Huayang New Materials Guiyan Platinum Industry - The company focuses on the manufacturing of precious metal new materials and has established a complete industrial chain system. It has built a precious metal resource recycling industry, carried out full - life - cycle management of precious metals, and established a precious metal supply service platform. It has formed a closed - loop industrial chain from precious metal supply, product processing to waste recycling [48]. - The company has strong R & D capabilities and independent innovation. Relying on the research and development foundation of the State Key Laboratory of New Technologies for Comprehensive Utilization of Rare and Precious Metals and the Kunming Institute of Precious Metals, it has continuously made breakthroughs in high - end materials such as precious metal precursor materials, catalytic materials, and electronic pastes. In 2024, the production of precious metal precursor products increased by more than 20% year - on - year, and the profit of precious metal electronic pastes increased by more than 30% year - on - year [48]. Haotong Technology - The company's three major business segments develop synergistically, and its full - chain service has created core competitiveness. It focuses on the precious metal recycling field, and its business includes precious metal recycling, new materials mainly composed of precious metals, and trade. It has formed a closed - loop from raw material supply to new material manufacturing and recycling, meeting customers' cyclical needs [51]. - The company has leading core technologies. Its independently developed platinum dissolution solution enrichment technology and other technologies are at the international leading level, and its sponge platinum products have a high reputation in the industry. It has advantages in environmental protection, safety, and cost, providing customers with more competitive prices [51]. Huayang New Materials - The company is supported by state - owned enterprise resources and has a full - industrial - chain layout. As a provincial - level state - owned enterprise in Shanxi, it has natural advantages in order acquisition, policy support, and resource approval. Its subsidiary, Huashengfeng Company, is the first domestic precious metal recycling and processing enterprise for producing platinum catalytic nets for nitric acid production. The company also has an industrial chain advantage in "PBAT - modified materials - products" [57]. - As of July 17, 2025, the PE - TTM of Guiyan Platinum Industry, Huayang New Materials, and Haotong Technology were 20, - 62, and 35 times respectively, and the PB were 1.66, 23.88, and 2.81 times respectively. With the rise in platinum prices, relevant companies are expected to improve their performance and digest valuations. According to institutional consensus forecasts, Guiyan Platinum Industry's net profit attributable to the parent company in 2025, 2026, and 2027 will be 696 million yuan, 826 million yuan, and 955 million yuan respectively, corresponding to PE of 16.9, 14.2, and 12.3 times at the current stock price [58].
A股小金属板块震荡上升,东方锆业封板涨停,中矿资源、浩通科技、锡业股份、永杉锂业、贵研铂业、西部材料等跟涨。
news flash· 2025-07-18 01:50
Group 1 - The A-share small metal sector is experiencing a volatile rise, with Dongfang Zirconium hitting the daily limit and closing at a maximum increase [1] - Other companies such as Zhongmin Resources, Haotong Technology, Xiyu Co., Yongshan Lithium, Guiyan Platinum, and Western Materials are also seeing gains [1]