Group 1 - The non-ferrous metal sector continues to rise, with companies such as Shengda Resources, Tongling Nonferrous Metals, Yuguang Gold Lead, and Huafeng Aluminum reaching new highs during trading [1] - Silver Industry has achieved a seven-day consecutive increase, indicating strong market performance [1] - Companies like Zinc Industry Co., Yiqiu Resources, Electric Alloy, Pengxin Resources, Northern Copper, China Aluminum, and China Nonferrous Metals are also experiencing significant gains [1]

| 承诺期 | 实现的净利润(不含 | 承诺浄利润（不含非 | 差异数(实现数一承 | | --- | --- | --- | --- | | | 非经常性损益) | 经常性损益) | 诺数) | | 2018 年度 | -2, 931. 83 | -2, 475. 95 | -455. 88 | | 2019 年度 | -5, 065. 37 | -528. 19 | -4,537.18 | | 2020 年度 | -1, 614. 67 | 2, 203. 60 | -3,818.27 | | 2021 年度 | -1, 325. 46 | 11, 094. 00 | -12, 419. 46 | | 2022 年度 | -5, 842. 33 | 58, 992. 98 | -64,835.31 | | 2023 年度 | -10.737.88 | 61, 752. 79 | -72, 490. 67 | | 2024 年度 | -8, 906. 39 | 63, 346. 82 | -72, 253. 21 | | 合计 | -36, 423. 93 | 194, 386. 08 | -230.810 ...

此前于2018年，公司通过向姜照柏、姜雷增发2.2亿股及支付4亿元现金，收购两人持有的宁波天弘100%股权，进而间接控制CAPM African Precious Metals。根据双方签署的《业绩承诺补偿协议》，约定2018年～2024年为业绩承诺期，宁波天弘累计承诺净利润不低于19.44亿元。若未达标，公司有权以 1元总价回购补偿股份并注销，不足部分以现金补足。 1月27日，鹏欣资源（600490）发布公告，关于业绩承诺补偿事项的诉讼进展。公司作为原告，已向人民法院提起诉讼，涉案金额包括业绩补偿款及利 息、诉讼费等合计约4.3亿元及补偿股份2.2亿股。 根据中兴财光华会计师事务所出具的审核报告，截至2024年末，宁波天弘业绩承诺期届满，累计净利润为-3.64亿元，未达到承诺目标。实际实现净利润 与承诺实现的净利润差额超过23亿元。经公司测算，公司要求姜照柏、姜雷两人补偿股份2.2亿股，并支付现金补偿4.14亿元，现金补偿需于2025年6月10 日前支付。 公告提示，因案件目前处于立案受理阶段，尚未开庭，暂无法预估对公司本期及期后利润的影响。除本次诉讼外，公司无其他应披露未披露的重大诉讼事 项。 据悉，被告 ...

证券代码：600490 证券简称：鹏欣资源 公告编号：临 2026-001 鹏欣环球资源股份有限公司 关于业绩承诺补偿事项的诉讼进展公告 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法律责任。 重要内容提示： 1、案件所处的诉讼阶段：立案受理、尚未开庭 2、上市公司所处的当事人地位：原告 3、涉案金额：业绩补偿款及利息、诉讼费等合计约 4.3 亿元及补偿股份 2.2 亿股。 4、是否会对上市公司损益产生负面影响：尚未开庭审理，对公司本期利润或 期后利润的影响暂无法预估。 一、本次诉讼事项受理的基本情况 鹏欣环球资源股份有限公司（以下简称"公司"、"上市公司"）通过向姜 照柏和姜雷增发人民币普通股（A 股）220,265,693 股及支付 400,000,000.00 元 现金购买其持有的宁波天弘益华贸易有限公司（以下简称"宁波天弘"、"标的 公司"）合计 100%股权，进而间接取得 CAPM African Precious Metals（Proprietary） Limited 的控制权（简称"本次交易"）。根据双方签署的《业绩承诺 ...

Core Viewpoint - Pengxin Resources has experienced significant stock price fluctuations, with a year-to-date increase of 30.40% and a notable rise of 23.38% over the past five trading days [2]. Group 1: Stock Performance - As of January 27, the stock price of Pengxin Resources dropped by 2.04% to 10.08 CNY per share, with a trading volume of 8.17 billion CNY and a turnover rate of 4.01%, resulting in a total market capitalization of 223.06 billion CNY [1]. - The stock has shown a 30.40% increase year-to-date, with a 23.38% rise in the last five trading days, 27.92% in the last 20 days, and 23.23% in the last 60 days [2]. Group 2: Company Overview - Pengxin Resources, established on September 29, 2000, and listed on June 26, 2003, is located in Shanghai and primarily engages in the mining, smelting, processing, and sales of metals such as copper, gold, and cobalt [2]. - The company's revenue composition includes 51.07% from trading, 48.68% from industrial activities, and 0.25% from other sources [2]. - The company operates within the non-ferrous metals sector, specifically in industrial metals and copper, and is associated with concepts such as silver, gold stocks, and non-ferrous metals [2]. Group 3: Financial Performance - For the period from January to September 2025, Pengxin Resources reported a revenue of 4.129 billion CNY, reflecting a year-on-year growth of 26.83%, while the net profit attributable to shareholders reached 234 million CNY, marking a substantial increase of 299.98% [2]. - The company has distributed a total of 166 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders for Pengxin Resources was 74,600, a decrease of 7.18% from the previous period, with an average of 26,712 shares held per shareholder, an increase of 7.74% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 26.3152 million shares, an increase of 11.2564 million shares from the previous period, while the Southern CSI 1000 ETF holds 14.1571 million shares, a decrease of 156,000 shares [3].

Group 1 - The A-share market saw a strong performance in gold-related stocks, with Silver Holdings hitting the daily limit, Hunan Silver rising over 7%, and Sichuan Gold, Shengda Resources, and Yuguang Gold & Lead increasing over 6% [1] - The international prices of gold and silver reached new historical highs, with spot gold rising to $4,967 per ounce and spot silver reaching $98.8 per ounce [1] - The US dollar weakened, contributing to the rise in gold and silver prices, following the release of data showing that the US economy grew slightly faster than previously reported in the third quarter [1] Group 2 - Notable stock performances include: - Silver Holdings (601212) with a 9.97% increase and a total market value of 76.8 billion - Hunan Silver (002716) with a 7.27% increase and a market value of 45.4 billion - Sichuan Gold (001337) with a 6.88% increase and a market value of 20.5 billion - Shengda Resources (000603) with a 6.71% increase and a market value of 34.5 billion - Yuguang Gold & Lead (600531) with a 6.75% increase and a market value of 19.9 billion [2] - Year-to-date performance shows significant increases, with Hunan Silver up 132.51% and Sichuan Gold up 75.16% [2]

Market Overview - On January 16, the industrial metals sector declined by 0.69%, with Tibet Summit leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Top Gainers in Industrial Metals - He Sheng Co., Ltd. (002824) closed at 20.26, up 6.69% with a trading volume of 168,900 shares and a transaction value of 336 million yuan [1] - Yian Technology (300328) closed at 18.27, up 6.16% with a trading volume of 683,300 shares and a transaction value of 1.23 billion yuan [1] - Haixing Co., Ltd. (603115) closed at 22.04, up 5.40% with a trading volume of 102,000 shares and a transaction value of 223 million yuan [1] Top Losers in Industrial Metals - Tibet Summit (600338) closed at 18.07, down 5.98% with a trading volume of 1,148,400 shares and a transaction value of 2.14 billion yuan [2] - Xinweiling (920634) closed at 27.39, down 5.06% with a trading volume of 55,400 shares and a transaction value of 159 million yuan [2] - Luoping Zinc & Electricity (002114) closed at 9.73, down 4.14% with a trading volume of 938,100 shares and a transaction value of 974 million yuan [2] Capital Flow Analysis - The industrial metals sector experienced a net outflow of 4.936 billion yuan from institutional investors, while retail investors saw a net inflow of 3.93 billion yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Yian Technology (300328) had a net inflow of 11.4 million yuan from institutional investors, but a net outflow of 80.03 million yuan from retail investors [3] - Chuanjiang New Materials (002171) saw a net inflow of 87.82 million yuan from institutional investors, while retail investors had a net outflow of 107 million yuan [3] - Huayu Mining (601020) experienced a net inflow of 40.5 million yuan from institutional investors, with a net outflow of 83.86 million yuan from retail investors [3]

Core Viewpoint - Pengxin Resources has experienced a stock price decline of 2.03% on January 14, with a current price of 8.22 CNY per share and a total market capitalization of 18.19 billion CNY [1] Group 1: Stock Performance - Year-to-date, the stock price of Pengxin Resources has increased by 6.34%, with a 0.37% rise over the last five trading days and an 8.73% increase over the last 20 days, while it has decreased by 3.29% over the last 60 days [2] - As of January 14, the trading volume was 7.23 billion CNY, with a turnover rate of 4.32% [1] Group 2: Financial Performance - For the period from January to September 2025, Pengxin Resources reported a revenue of 4.13 billion CNY, reflecting a year-on-year growth of 26.83%, and a net profit attributable to shareholders of 234 million CNY, marking a significant increase of 299.98% [2] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Pengxin Resources was 74,600, a decrease of 7.18% from the previous period, with an average of 26,712 circulating shares per shareholder, which is an increase of 7.74% [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 26.32 million shares, an increase of 11.26 million shares from the previous period [3]

Core Insights - The copper smelting industry in China is experiencing a significant trade deficit, with imports far exceeding exports, leading to an increasing trend in trade deficit from 2019 to 2024 [1][2]. Trade Deficit - In 2024, the total import and export value of copper smelting-related products in China reached 811.86 billion yuan, with a trade deficit expanding by 114.51 billion yuan [1]. - For the first seven months of 2025, the trade deficit was recorded at 195.81 billion yuan, indicating a continued trend of high import reliance [2]. Import Volume and Value - The import volume of copper smelting-related products in China reached 33.02 million tons in 2024, marking a 2.34% increase from 2023, with an import value of 807.29 billion yuan, which is a 14.48% increase compared to 2020 [3]. - In the first seven months of 2025, the import volume was 20.00 million tons, with an import value of 507.56 billion yuan [3]. Import Price Trends - The average import price of copper smelting-related products has shown an upward trend from 2019 to July 2025, with significant increases noted during the 2020-2021 period due to supply chain disruptions caused by the COVID-19 pandemic [5]. Export Volume and Value - The export volume of copper smelting-related products in China was 456,400 tons in 2024, with an export value of 31.60 billion yuan, reaching a peak during the observed period [7]. - For the first seven months of 2025, the export volume was 421,600 tons, with an export value of 28.92 billion yuan [7]. Export Price Trends - The average export price of copper smelting-related products has generally increased from 2019 to July 2025, although some products exhibited significant price volatility due to smaller export volumes [10].

Macro and Strategy - The fixed income investment strategy focuses on long-term bond wave operations, with a significant decline in default amounts in December, indicating a potential recovery in credit markets [7][8] - Domestic economic growth is expected to slow down, with GDP growth forecasted at approximately 4.3% for Q4 2025, remaining within the government's target range of around 5% [7][8] - The monetary policy meeting in Q4 removed references to "low price operation," indicating a shift in focus towards addressing supply-demand imbalances in the economy [8] Industry and Company - In the transportation sector, improvements in oil exchange rates are beneficial for the airline sector, while leading express companies are strengthening their competitive advantages [3][20] - The banking sector is expected to perform well leading up to the Spring Festival, with historical data showing a high success rate for bank stocks during this period [24][25] - The mechanical industry is seeing significant developments, with the establishment of a standardization committee for humanoid robots and ByteDance planning to invest $23 billion in AI [26][27] - The social services sector has seen a notable increase in duty-free sales in Hainan, with a 54.9% year-on-year growth, indicating strong consumer demand [33][34] - The express delivery industry is benefiting from price increases due to anti-involution policies, with major players like ZTO and YTO showing improved growth rates [22][23]