证券代码：600531 证券简称：豫光金铅 公告编号：临 2026-020 河南豫光金铅股份有限公司 本次保荐代表人变更后，公司向不特定对象发行可转换公司债券项目的持续 督导保荐代表人为赵健程先生和宋维平先生。 公司董事会对原保荐代表人李常均先生在公司向不特定对象发行可转换公 司债券项目及持续督导期间所做的工作表示衷心感谢！ 特此公告。 河南豫光金铅股份有限公司董事会 2026 年 3 月 25 日 附件：宋维平先生简历 关于变更持续督导保荐代表人的公告 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。 河南豫光金铅股份有限公司（以下简称"公司"）于近日收到保荐机构国联 民生证券承销保荐有限公司（以下简称"国联民生"）出具的《关于变更河南豫 光金铅股份有限公司持续督导保荐代表人的函》。 国联民生作为公司向不特定对象发行可转换公司债券的保荐机构，原指定李 常均先生和赵健程先生为公司前述项目的持续督导保荐代表人，持续督导职责期 限至2025年12月31日止。鉴于公司募集资金尚未使用完毕，国联民生就募集资金 事项继续履行督导职责 ...

每经AI快讯，2月27日，黄金珠宝指数午后拉升，成分股表现活跃。贵研铂业、湖南黄金涨停，西部黄 金、恒邦股份、豫光金铅等多股跟涨。 （文章来源：每日经济新闻） ...

证券日报网讯 2月25日，豫光金铅在互动平台回答投资者提问时表示，截至2026年2月13日公司股东人 数为136728户。 （文章来源：证券日报） ...

Core Viewpoint - Yuguang Gold Lead's stock price has shown significant growth in 2023, with a year-to-date increase of 52.26% as of February 25, 2023, indicating strong market performance and investor interest [1][2]. Financial Performance - For the period from January to September 2025, Yuguang Gold Lead achieved a revenue of 34.855 billion yuan, representing a year-on-year growth of 20.12%. The net profit attributable to shareholders was 621 million yuan, reflecting an increase of 11.99% compared to the previous year [2]. - The company has distributed a total of 1.338 billion yuan in dividends since its A-share listing, with 548 million yuan distributed over the past three years [3]. Stock Market Activity - As of February 25, 2023, Yuguang Gold Lead's stock price was 17.89 yuan per share, with a trading volume of 698 million yuan and a turnover rate of 3.28%. The total market capitalization stood at 21.634 billion yuan [1]. - The stock has appeared on the "Dragon and Tiger List" three times this year, with the most recent appearance on February 3, 2023, where it recorded a net purchase of 921.378 million yuan [1]. Shareholder Structure - As of February 10, 2025, the number of shareholders for Yuguang Gold Lead was 140,900, a decrease of 10.40% from the previous period. The average circulating shares per person increased by 11.61% to 8,580 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 19.968 million shares, a decrease of 14.1332 million shares from the previous period. New entrants included Huaxia CSI 1000 ETF, holding 4.1481 million shares [3].

Group 1 - The A-share market saw a strong performance in gold-related stocks, with notable increases such as Xiaocheng Technology rising over 12% and Hebang Bio hitting the daily limit of 10% [1] - Recent news indicates that gold and silver prices have strengthened, with spot gold reaching a high of $5249.97, the highest since January 30, and spot silver surpassing $90, a peak since February 5 [1] - UBS maintains a positive outlook on gold, projecting that the international spot gold price could reach $6200 per ounce in the coming months, driven by geopolitical risks and continued monetary easing by the Federal Reserve [1] Group 2 - Analysts predict that global gold demand will exceed 5000 tons by 2025, supported by stronger investment flows and ongoing purchases by central banks [1] - Supply growth appears limited, with Wood Mackenzie estimating that around 80 mines will exhaust their current production plans by 2028, indicating constrained supply elasticity in the short term [1] - The following companies experienced significant stock price increases: Xiaocheng Technology (12.91%), Hebang Bio (10.08%), and Hunan Silver (9.65%), among others, reflecting the bullish sentiment in the gold sector [2]

Investment Rating - The report rates the silver industry as "Buy" [5] Core Insights - The dual attributes of silver, as both a commodity and a financial asset, create a strong resonance. Industrial demand for silver has risen to nearly 60%, with emerging sectors becoming the core of growth. In a globally loose liquidity environment, silver acts as a preferred safe-haven asset alongside gold. Long-term, increasing silver usage in photovoltaic, electric vehicles, and artificial intelligence sectors may lead to a persistent supply-demand gap, driving silver prices upward [2]. Summary by Sections 1. Inventory Disturbances and Price Volatility - Global silver inventories have shown a declining trend over the past five years, with COMEX and LBMA inventories decreasing significantly. By the end of 2025, LBMA inventory was approximately 27,800 tons, down from a peak of 36,700 tons in June 2021. Concurrently, silver inventories in China have also reached historical lows [8][10]. 2. Financial Attributes and Gold-Silver Ratio - The gold-silver ratio has shown wide fluctuations and mean reversion, with a historical average around 68 since 2000. The ratio reached a peak of 104 in early 2025 and subsequently fell to 47 by January 2026, with silver prices increasing significantly more than gold during this period [14][19]. 3. Silver Supply: Limited Mining and Potential for Recycled Silver - Global silver reserves are slowly increasing, with a compound annual growth rate of 1.6% from 510,000 tons in 2010 to 640,000 tons in 2025. The supply is highly concentrated in a few countries, with Mexico, China, and Peru accounting for over 50% of global production [22][24]. The mining supply is constrained, with over 70% of silver coming from by-products of other metal mining, leading to low elasticity in supply [30]. 4. Silver Demand: Driven by AI and Emerging Industries - Industrial demand for silver is projected to increase, with its share of total demand rising from 49% in 2011 to 58% in 2024. Key growth drivers include the photovoltaic industry, which is expected to consume 6,147 tons of silver in 2024, and the electric vehicle sector, which will further boost silver demand as EV penetration increases [47][49][61]. 5. Continuous Supply-Demand Gap - The persistent supply-demand gap is expected to push silver prices higher. The report anticipates that the combination of strong financial attributes and long-term supply constraints will lead to an upward shift in the price equilibrium of silver [5][20]. 6. Related Silver Resource Companies - The report highlights specific companies such as Shengda Resources, which possesses independent silver mines and rich resources, as potential beneficiaries of rising silver prices [5][39].

Core Viewpoint - The lead-acid battery recycling industry in China is rapidly growing, driven by the "dual carbon" goals, with a projected recycling volume of 4.758 million tons by 2025, despite a slight decline in market scale due to falling recycling prices [1][9]. Overview - Waste lead-acid batteries are classified as hazardous waste, and their recycling involves a series of regulated processes to extract valuable materials like lead, plastic, and sulfuric acid, aiming for resource recycling and environmental protection [2][3]. Market Policy - The Chinese government has implemented various policies to support the recycling industry, emphasizing environmental protection and resource sustainability, which creates a favorable policy environment for the lead-acid battery recycling sector [4][5]. Industry Chain - The lead-acid battery recycling industry in China has established a closed-loop industry chain, focusing on upstream supply, midstream processing, and downstream resource application, with a trend towards intensive, resource-efficient, and green development [6][7]. Current Development - The recycling technology for lead-acid batteries has continuously evolved, achieving high maturity and resource utilization rates, with a significant and stable demand for scrap batteries driven by various applications in automotive, communication, and energy sectors [9]. Competitive Landscape - The lead-acid battery recycling industry is undergoing structural changes, with increasing compliance requirements and a concentration of market players. As of 2025, there are 2,210 companies in the industry, with no new entrants, indicating a trend towards consolidation and the exit of non-compliant operators [10][11]. Industry Representative Companies - Major players in the industry include South Power, Camel Group, and Yuguang Gold Lead, with significant processing capacities, such as South Power's 1.2 million tons and Camel Group's 860,000 tons per year [10][11]. Development Trends - The industry is expected to see increased regulatory scrutiny, pushing for compliance and standardization, while technological innovations will enhance recycling efficiency and environmental performance. The market will likely consolidate around leading companies, with smaller firms either exiting or becoming service providers [12][13][14].

内容概况：再生银是指从含银废杂物料中回收并重新提炼的银。这些废旧材料可能来自照像业、首饰 业、电子电器工业及医疗业等等。经过分类、清洗、熔炼等多个环节，银被提取并重新加工，成为可以 再次使用的材料。再生银是白银产业链中重要一环。全球白银供给呈现"矿山为主、回收为辅"的格局， 白银独立原生矿少，全球超80%矿山白银储量伴随金、铜、铅锌等矿产存在，这也导致白银供应高度依 赖主金属开采节奏，新增产能周期长。在原料紧张背景下，再生银成为重要补充来源，已成为白银供应 体系中的重要组成部分。整体来看，随着回收技术的进步、回收体系的完善，全球再生银产量由2016年 的4861吨增长至2025年的6009吨，占白银总供应量比重也由14.8%提升至18.7%。2024年全球再生银行 业产量前五国家分别为美国、中国、印度、德国、俄罗斯，产量分别为1572吨、1233吨、533吨、377 吨、332吨。中美两国拥有庞大的工业体系，既是白银消费主要国，也是白银回收大国，不仅产量位居 全球前列，回收技术也处于行业先进水平。印度作为银饰大国，再生银产量位居第三。全球再生银主要 来源于感光材料、电子产品、催化剂和银饰品回收等，其中工业为主 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600531 证券简称：豫光金铅 公告编号：2026-019 2.信息披露义务人信息 河南豫光金铅股份有限公司 关于股东权益变动触及1%刻度的提示性公告 股东济源投资集团有限公司及其一致行动人河南愚公集团有限公司保证向本公司提供的信息真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： ■ 一、信息披露义务人及其一致行动人的基本信息 1.身份类别 ■ ■ 3.一致行动人信息 ■ 二、权益变动触及1%刻度的基本情况 河南豫光金铅股份有限公司（以下简称"公司"） 于2026年1月9日披露了《河南豫光金铅股份有限公司 股东减持股份计划公告》（公告编号：2026-002），公司股东济源投资集团有限公司因自身资金需要， 拟在前述公告披露日起15个交易日后的3个月内，通过集中竞价和大宗交易方式合计减持公司股份不超 过20,640,000股，即不超过公司总股本的1.71%，其中，采取集中竞价交易方式减持的，减持股份的总 数不超过12,000,000股；采取大宗交易方式减持的，减 ...

证券日报网讯2月13日，豫光金铅（600531）发布公告称，2026年1月30日至2月12日，济源投资集团有 限公司通过集中竞价减持572.69万股，其及一致行动人河南愚公集团有限公司合计持股比例由6.21%降 至5.74%，减持计划仍在实施中。 ...