Core Viewpoint - The company Guoyan Platinum Industry (600459.SH) announced a plan to issue A-shares to specific investors, aiming to raise a total of no more than 1.291 billion yuan for various projects [1] Fundraising Purpose - The raised funds will be allocated to the following projects: - Construction of a national key laboratory platform for precious metal functional materials - Establishment of an AI laboratory for new precious metal materials - Development of a modern industrial base for the recycling of secondary precious metal resources - Green recycling project for secondary precious metal resources - Deep processing and intelligent upgrading of new functional alloys - Industrialization of platinum-based anticancer drug raw materials - Supplementing working capital [1]

Group 1 - The company, Guiyan Platinum Industry (600459.SH), announced a plan to issue A-shares to specific investors, aiming to raise a total of no more than 1.291 billion yuan, including the principal amount [1] - The raised funds will be allocated to several projects, including the construction of a national key laboratory platform for precious metal functional materials and an AI laboratory for new precious metal materials [1] - Additional investments will focus on projects related to the recycling and modern industrial base of secondary precious metal resources, as well as the industrialization of platinum-based anticancer drug raw materials [1]

Core Viewpoint - The company, Guiyan Platinum Industry, announced plans to issue A-shares to raise a total of no more than 1.291 billion yuan, which will be allocated to various projects and working capital [1] Fundraising Purpose - The raised funds will be used for the construction of a national key laboratory platform for precious metal functional materials [1] - The funds will also support the establishment of an AI laboratory for new precious metal materials [1] - Additional projects include the modern industrial base for the enrichment and recycling of secondary precious metal resources [1] - The company plans to invest in a green recycling project for secondary precious metal resources [1] - The funds will facilitate the deep processing and intelligent upgrading of new functional alloy materials [1] - The industrialization of platinum-based anticancer drug raw materials will also be funded [1] - A portion of the funds will be allocated to supplement working capital [1]

Group 1 - The stock of Guiyan Platinum Industry fell by 3.86% on September 18, closing at 16.20 yuan [1] - A block trade occurred with a total volume of 209,000 shares and a transaction amount of 3.3754 million yuan, with a premium rate of -0.31% [1] - The buyer was Southwest Securities Co., Ltd. Shaanxi Branch, and the seller was China Post Securities Co., Ltd. Xi'an Kaiyuan Road Securities Branch [1] Group 2 - Over the past three months, there has been one block trade for this stock, totaling 3.3754 million yuan [1] - In the last five trading days, the stock has declined by 6.25%, with a total net outflow of 105 million yuan from main funds [1]

9月18日，贵研铂业大宗交易成交20.9万股，成交额337.54万元，占当日总成交额的0.74%，成交价16.15 元，较市场收盘价16.2元折价0.31%。 | 025-09-18 | 贵研拍业 | | | | 西南证券股份有限 | 中邮证券有限责任 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券简称 | 证券代码 600459 | 成交价(元) 成交金额(万元) 成交量(*) 买入营业部 16.15 337.54 | 20.9 | 公司陕西分公司 | 卖出营业部 公司西安开元路证 | 是否为专场 图 | ...

Group 1: Industry Overview - Rhodium is considered "black gold" among platinum group metals, with a scarcity far exceeding that of gold [1][3] - Global rhodium supply in 2024 is estimated at approximately 31.1 tons, with 21.9 tons from mining and 9.2 tons from recycling [1][3] - South Africa, Russia, and Canada are the primary sources of rhodium, with over 90% of global reserves located in South Africa [1][3] Group 2: Domestic Market Situation - China's total rhodium reserves are only 3.23 tons, leading to a high dependency on imports [4][5] - In 2024, China's rhodium supply is projected at 3147.36 kg, with imports of 2910.23 kg and a demand of 6012.57 kg [5][4] Group 3: Industry Chain and Production Process - Rhodium is extracted as a byproduct during the refining of platinum and nickel/copper ores, making the upstream supply highly concentrated [6][8] - The production process involves mining, smelting, and refining, requiring complex separation and purification techniques [2][3] Group 4: Demand Distribution - In 2024, global rhodium demand is expected to reach 33.1 tons, with 87.31% of this demand coming from the automotive catalytic converter sector [4][5] Group 5: Competitive Landscape - Major global producers include Anglo American, Sibanye Stillwater, and Nornickel, which dominate the rhodium market due to their extensive resources and advanced technologies [9][10] - In China, key players include Jinchuan Group and Guizhou Platinum Industry, which are enhancing their refining and recycling capabilities [9][10] Group 6: Future Trends - The strategic value of rhodium is expected to increase with the deepening of the new energy revolution, leading to a rising price trend [10] - The rhodium recycling market is anticipated to experience growth in both volume and price due to tightening environmental regulations [10]

Core Viewpoint - Guoyan Platinum Industry's stock price has shown fluctuations, with a recent decline of 2.01% and a year-to-date increase of 26.24%, indicating volatility in the market [1]. Company Overview - Guoyan Platinum Industry, established on September 25, 2000, and listed on May 16, 2003, is located in Kunming, Yunnan Province. The company specializes in the research, development, and production of precious metals and materials [1]. - The company's revenue composition includes: 36.21% from precious metal recycling products, 35.17% from precious metal supply services, 16.05% from special functional materials, 8.65% from precursor materials, 3.01% from automotive catalytic purifiers, 0.59% from information functional materials, 0.21% from industrial catalysts, and 0.10% from other sources [1]. Financial Performance - For the first half of 2025, Guoyan Platinum Industry reported a revenue of 29.554 billion yuan, reflecting a year-on-year growth of 20.91%. The net profit attributable to shareholders was 325 million yuan, with a growth of 2.30% [2]. - The company has distributed a total of 1.072 billion yuan in dividends since its A-share listing, with 453 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 53,100, up by 6.26%. The average number of circulating shares per person decreased by 5.89% to 14,205 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 7.7584 million shares, a decrease of 1.903 million shares from the previous period. Meanwhile, Southern CSI 1000 ETF increased its holdings by 1.4948 million shares to 4.9141 million shares [3].

Core Viewpoint - Guoyan Platinum Industry's stock price has shown significant growth this year, with a 30.76% increase, indicating strong market performance and investor interest [1][2]. Company Overview - Guoyan Platinum Industry, established on September 25, 2000, and listed on May 16, 2003, is located in Kunming, Yunnan Province. The company specializes in the research, development, and production of precious metals and materials [1]. - The company's revenue composition includes: 36.21% from precious metal recycling products, 35.17% from precious metal supply services, 16.05% from special functional materials, 8.65% from precursor materials, 3.01% from automotive catalytic purifiers, 0.59% from information functional materials, 0.21% from industrial catalysts, and 0.10% from other sources [1]. Financial Performance - For the first half of 2025, Guoyan Platinum Industry reported a revenue of 29.554 billion yuan, representing a year-on-year growth of 20.91%. The net profit attributable to shareholders was 325 million yuan, reflecting a 2.30% increase compared to the previous year [2]. - The company has distributed a total of 1.072 billion yuan in dividends since its A-share listing, with 453 million yuan distributed over the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 53,100, up by 6.26%. The average number of circulating shares per shareholder decreased by 5.89% to 14,205 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 7.7584 million shares, a decrease of 1.903 million shares from the previous period. Meanwhile, Southern CSI 1000 ETF increased its holdings by 1.4948 million shares to 4.9141 million shares [3].

Core Viewpoint - The precious metals sector is experiencing a significant rally, with silver leading the gains, indicating strong market interest and potential investment opportunities in this segment [1] Group 1: Market Performance - Silver is the leading performer in the precious metals sector, showing substantial price increases [1] - Companies such as Shengda Resources and Hunan Silver have reached their daily price limits, indicating strong investor demand [1] - Xinyi Silver and Tin has surged over 8%, reaching a new historical high, reflecting robust market momentum [1] Group 2: Company Movements - Other companies such as Yuguang Gold Lead, Zhuhai Group, Silver Industry, and Precious Metals Research Institute are also experiencing price increases, suggesting a broad-based rally across the sector [1]

Core Viewpoint - The small metal industry has shown varied financial performance among 23 representative listed companies, with notable differences in sales gross margin and net profit margin for the first half of 2025 [1] Financial Performance Summary - The majority of listed companies in the small metal industry reported sales gross margins below 20% for the first half of 2025, with Anning Co. leading at a gross margin of 60.13% [1] - Most companies exhibited net profit margins under 7%, with Guoyan Platinum, Baowu Magnesium, and Xianglu Tungsten showing particularly low net profit margins of 1.18%, 1.56%, and 1.97% respectively [1] - An anomaly was observed in Huayang New Materials, which had a sales gross margin of only 0.54% but a remarkably high net profit margin of 54% for the first half of 2025 [1] - Overall, the small metal industry achieved profitability in the first half of 2025, but Guoyan Platinum's net profit margin of 1.18% was the lowest among the companies analyzed [1]