Investment Rating - The report maintains a "Positive" investment rating for the non-ferrous and steel industry [5] Core Viewpoints - Continuous attention is recommended for investment opportunities in the steel sector, especially given the recent changes in tariffs and the domestic market's pricing dynamics [14][8] - The steel industry has experienced a three-year adjustment period, and current valuations present a high cost-performance ratio [14] - The upstream iron ore supply landscape is expected to undergo significant changes, potentially leading to a recovery of profitability within the domestic steel industry [14] Summary by Sections 1. Core Viewpoints - Continuous focus on investment opportunities in the steel sector is emphasized, particularly in light of recent tariff increases and potential economic stagnation in the U.S. [14] - The steel sector has seen a three-year downturn, but current conditions suggest improved profitability and stability for leading companies [14] 2. Steel Market Overview - The weekly consumption of rebar increased to 2.74 million tons, reflecting an 8.37% week-on-week rise [15][18] - The overall price index for common steel decreased by 0.72%, with specific products showing varied price movements [15][37] 3. Industrial Metals - The copper smelting fee has deepened into negative territory, indicating challenges in the copper market [17] - The production costs for electrolytic aluminum have decreased significantly, leading to improved profitability for producers [17] 4. Precious Metals - Gold prices have shown a notable increase, with COMEX gold closing at $3,341.3 per ounce, a 2.65% rise week-on-week [17] - The increase in tariffs is expected to drive demand for gold as a safe-haven asset, suggesting potential investment opportunities in the gold sector [17] 5. New Energy Metals - Lithium production in China saw a significant year-on-year increase of 57.44% in February 2025, indicating strong growth in the new energy sector [16] - The demand for nickel and cobalt remains robust, with notable increases in production and consumption in the electric vehicle market [45][50]

株洲冶炼集团股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 株洲冶炼集团股份有限公司 2024 年年度股东大会会议材料 | | | 目 录 | | --- | --- | --- | | 序号 | | 议案名称 | | 1 | 关于 2024 | 年度董事会工作报告的议案 | | 2 | 关于 2024 | 年度监事会工作报告的议案 | | 3 | | 关于独立董事述职报告的议案 | | 4 | | 关于提请股东大会授权董事会以简易程序向特定对象发 | | | 行股票的议案 | | | 5 | 关于 2024 | 年年度报告及摘要的议案 | | 6 | 关于 2024 | 年度财务决算报告的议案 | | 7 | 关于 2025 | 年度财务预算报告的议案 | | 8 | 关于 2024 | 年度利润分配预案的议案 | | 9 | | 关于续聘会计师事务所的议案 | | 10 | | 关于对会计师事务所履职情况评估报告的议案 | | | | 关于接受、使用银行授信额度并授权董事长签署融资相关 | | 11 | 法律文书的议案 | | | 12 | 关于 2024 | 年度内部控制评价报告 ...

中信建投证券股份有限公司 关于 株洲冶炼集团股份有限公司 发行股份及支付现金购买资产 并募集配套资金暨关联交易 之 2024 年度持续督导意见暨持续督导总结报告 独立财务顾问 二〇二五年四月 声 明 中信建投证券股份有限公司（以下简称"中信建投"或"本独立财务顾问"） 作为株洲冶炼集团股份有限公司（以下简称"株冶集团"、"公司"或"上市公 司"）发行股份及支付现金购买资产并募集配套资金暨关联交易的独立财务顾问， 根据《公司法》《证券法》《重组管理办法》《上市规则》等法律法规的规定和要 求，按照证券行业公认的业务标准、道德规范，本着诚实信用、勤勉尽责的态 度，经过审慎核查，结合上市公司 2024 年度报告，出具本持续督导意见暨持续 督导总结报告。 1、出具本持续督导意见暨持续督导总结报告所依据的文件、材料由相关各 方向本独立财务顾问提供。相关各方对所提供的资料的真实性、准确性、完整 性负责，相关各方保证不存在任何虚假记载、误导性陈述或重大遗漏，并对所 提供资料的合法性、真实性、完整性承担个别和连带责任。 2、本持续督导意见暨持续督导总结报告不构成对上市公司的任何投资建议， 对投资者根据本持续督导意见所做出的任何 ...

Group 1 - The actual controller, chairman, and CEO of Juran Smart Home, Wang Linpeng, has been detained, but the company's operations remain normal and unaffected [1] - Juran Smart Home reported a total revenue of 12.966 billion yuan in 2024, a decrease of 4.04% year-on-year, and a net profit of 883 million yuan, down 32.08% year-on-year, primarily due to economic fluctuations and increased competition in the home furnishing market [3][4] Group 2 - China Bank plans to raise up to 165 billion yuan through a private placement of A-shares, with the funds aimed at increasing its core tier one capital [4] - The issuance price for China Bank's shares is set at 6.05 yuan per share, which is 80% of the average trading price over the previous 20 trading days [4] - The Bank of Communications also plans to raise up to 120 billion yuan through a private placement, with the funds also designated for core tier one capital [5] Group 3 - SANY Heavy Industry reported a total revenue of 78.383 billion yuan in 2024, an increase of 5.9% year-on-year, and a net profit of 5.975 billion yuan, up 31.98% year-on-year [6][7] - The company's international main business revenue reached 48.513 billion yuan, accounting for 63.98% of total revenue, with significant growth in various regions [6][8] - SANY Heavy Industry has established 37 lighthouse factories and is recognized for its advanced smart manufacturing capabilities [8] Group 4 - East China Pharmaceutical achieved a total revenue of 41.906 billion yuan in 2024, a growth of 3.16%, and a net profit of 3.512 billion yuan, up 23.72% year-on-year [10][11] - The company has a robust pipeline of over 80 innovative drugs, focusing on diabetes and oncology [11][12] Group 5 - EVE Energy reported a total revenue of 48.615 billion yuan in 2024, a slight decrease of 0.35%, with a net profit of 4.076 billion yuan, an increase of 0.63% [13][14] - The company has seen significant growth in its energy storage business, with a shipment volume of 50.45 GWh, a year-on-year increase of 91.90% [15] Group 6 - China Unicom reported a revenue of 103.35 billion yuan in Q1 2025, a growth of 3.9%, and a net profit of 2.61 billion yuan, up 6.5% year-on-year [19] - Lens Technology achieved a revenue of 17.063 billion yuan in Q1 2025, a growth of 10.10%, with a net profit of 429 million yuan, up 38.71% year-on-year [20] Group 7 - Fuyao Glass reported a revenue of 9.910 billion yuan in Q1 2025, a growth of 12.16%, with a net profit of 2.030 billion yuan, up 46.25% year-on-year [21] - Zhuye Group reported a revenue of 4.803 billion yuan in Q1 2025, a growth of 8.50%, with a net profit of 277 million yuan, up 74.07% year-on-year [23] Group 8 - Cailong Technology reported a net profit growth of 87.55% in 2024, with total revenue of 11.664 billion yuan [32] - Ziyan Food reported a revenue of 3.363 billion yuan in 2024, with a net profit growth of 4.5% [33] Group 9 - Shunyi Environmental reported a revenue of 12.678 billion yuan in 2024, with a net profit growth of 41.58% [35] - Shougang Group turned a profit in Q1 2025, reporting a revenue of 26.533 billion yuan, down 10.18%, with a net profit of 328 million yuan [36] Group 10 - Keda Li reported a revenue of 12.030 billion yuan in 2024, with a net profit growth of 22.55% [38] - Betta Pharmaceuticals reported a revenue of 2.892 billion yuan in 2024, with a net profit growth of 15.67% [40] Group 11 - New Australia reported a revenue of 4.841 billion yuan in 2024, with a net profit growth of 5.96% [41] - Fawer reported a revenue of 16.468 billion yuan in 2024, with a net profit growth of 11.93% [42] Group 12 - Zhongwei Company reported a revenue of 9.065 billion yuan in 2024, with a net profit decrease of 9.53% [43] - Changying Precision reported a revenue of 16.934 billion yuan in 2024, with a net profit growth of 800% [44] Group 13 - Stanley reported a revenue of 10.263 billion yuan in 2024, with a net profit growth of 17.89% [45] - Puyang reported a revenue of 5.192 billion yuan in 2024, with a net profit decrease of 45.48% [46] Group 14 - Huangshi Group received a notice of administrative penalty for failing to disclose significant contracts, with potential fines for the company and responsible individuals [47] - Baosteel announced plans to acquire a 49% stake in Maanshan Steel through a combination of cash purchases and capital increases, with an estimated total investment of 9 billion yuan [48][49] Group 15 - Shengquan Group reported a revenue of 2.459 billion yuan in Q1 2025, with a net profit growth of 50.46% [50]

长盈精密公告称，2024年公司实现营业总收入169.34亿元，同比增长23.40%；归属于上市公司股东的净 利润为7.72亿元，同比增长800.24%。公司向全体股东每10股派发现金红利1.3元（含税）。报告期内， 公司加快人形机器人相关产能的建设，加大研发投入，取得了多家国内外人形机器人客户的定点项目。 三安光电公告称，近日收到中国工商银行湖北省分行出具的《贷款承诺函》，承诺提供人民币10.00亿 元的回购专项贷款，期限三年，用于回购公司股票。该承诺函自出具之日起生效，有效期至公司与工行 正式签订《上市公司股票回购借款合同》之日、工行贷款审批书审批时效届满之日或公司公告的回购期 限届满之日先到之日止。此次贷款承诺函可为公司回购股份提供融资支持，但具体贷款事宜以双方签订 的借款合同为准。公司将根据相关规定另行开立股票回购专用证券账户，确保回购贷款专款专用。 长盈精密：2024年净利同比增长800%，取得多家国内外人形机器人客户定点项目 株冶集团：一季度净利润同比增长74.07%，主要原因是贵金属增利 今日焦点三安光电：收到中国工商银行10亿元回购贷款承诺函 株冶集团公告称，2025年第一季度营业收入48.03 ...

Core Viewpoint - Zhuzhou Smelter Group Co., Ltd. reported a strong performance in Q1 2025, with revenue of approximately 4.803 billion yuan, a year-on-year increase of 8.50%, and a net profit attributable to shareholders of approximately 283 million yuan, a year-on-year increase of 112.94% [2][3] Company Overview - Zhuzhou Smelter Group is a large state-owned enterprise primarily engaged in the smelting, processing, and sales of non-ferrous metals, particularly zinc and lead, and is a leading zinc smelting company in China [2] - The company has advanced wet and pyrometallurgical zinc smelting processes and has a high resource utilization rate by recovering precious metals from smelting waste [2] - The company produces zinc alloys and hot-dip galvanized alloys for applications in automotive, battery, and construction sectors, maintaining a leading market share in domestic zinc products [2] Performance Drivers - The increase in Q1 performance is attributed to high prices of precious metals, particularly gold, driven by factors such as interest rate expectations in developed economies, geopolitical risks, and industrial demand growth [3] - The company has enhanced its profitability through mining and sourcing raw materials for precious metal refining, significantly increasing unit value and profit contribution [3] - The acquisition of Shuikoushan Mine has transformed the resource base into a profit source, and the technical upgrade project at Kangjiabao Mine has further released advanced production capacity [3] Operational Efficiency - The company has focused on meticulous cost control and process optimization, effectively maintaining low impurity levels in products and reducing unit production costs through technical improvements in smelting electricity consumption [3][4] - The domestic zinc product market demand is robust, and the company has adjusted its production strategy to meet high-quality zinc ingot demand, achieving premium sales [4] - The combination of precious metal business growth, accelerated mining capacity release, and internal cost reduction efforts has significantly contributed to the company's performance growth [4]

株洲冶炼集团股份有限公司 董事会审计委员会会议决议暨审核意见 根据中国证券监督管理委员会《上市公司治理准则》《上海 证券交易所上市公司自律监管指引第 1 号—规范运作》《上海证 券交易所股票上市规则》及《公司章程》《公司董事会专门委员 会实施细则》等有关规定，株洲冶炼集团股份有限公司（以下简 称"公司"）董事会审计委员会于 2025 年 4 月 16 日以通讯方式 召开了 2025 年第三次会议，就提交公司第八届董事会第十一次 会议的相关事项进行了事前审核。 公司董事会审计委员会本次会议应到委员 5 人，实到委员 5 人，符合相关规定人数，会议由公司董事会审计委员会主任李志 军先生主持。 经参会委员共同商榷，发表如下书面审核意见： 审议并通过了《关于 2025 年第一季度报告的议案》 审核意见：公司 2025 年第一季度报告的编制和审议程序符 合法律、法规、《公司章程》及公司内部管理制度的各项规定， 内容和格式符合中国证监会和上海证券交易所的要求，公司财务 报表在所有重大方面公允反映了公司 2025 年 3 月 31 日的财务状 况以及 2025 年一季度的经营成果和现金流量，报告所披露的信 息真实、客观、完 ...

（一）本次监事会会议的召开符合有关法律、行政法规、部门规章、规范性 文件和公司章程的规定。 证券代码：600961 证券简称：株冶集团 公告编号：2025-014 株洲冶炼集团股份有限公司 第八届监事会第十一次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 （二）公司于 2025 年 4 月 14 日通过电子邮件和传真等方式发出监事会会议 通知和会议材料。 （三）召开监事会会议的时间：2025 年 4 月 17 日。 召开监事会会议的地点：湖南省株洲市天元区衡山东路 12 号株洲冶炼集团 股份有限公司会议室。 召开监事会会议的方式：现场结合视频。 （四）本次监事会会议应当出席监事 7 人，实际出席会议的监事 7 人。 （五）本次监事会会议的主持人：夏中卫先生。 二、监事会会议审议情况 关于 2025 年第一季度报告的议案 7 票同意，0 票反对，0 票弃权，通过了该议案。 具体内容详见 2025 年 4 月 18 日刊登于《中国证券报》《上海证券报》《证券 时报》和上海证券交易所网站（ww ...

株洲冶炼集团股份有限公司 证券代码：600961 证券简称：株冶集团 公告编号：2025-013 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。 一、董事会会议召开情况 第八届董事会第十一次会议决议公告 （二）公司于 2025 年 4 月 14 日通过电子邮件和传真等方式发出董事会会议 通知和会议材料。 （三）召开董事会会议的时间：2025 年 4 月 17 日。 召开董事会会议的地点：湖南省株洲市天元区衡山东路 12 号株洲冶炼集团 股份有限公司会议室。 召开董事会会议的方式：现场结合视频。 （四）本次董事会会议应当出席董事 9 人，实际出席会议的董事 9 人。 （五）本次董事会会议的主持人：刘朗明先生。 列席人员：公司监事、公司高级管理人员 （一）本次董事会会议的召开符合有关法律、行政法规、部门规章、规范性 文件和公司章程的规定。 1 本议案经公司董事会审计委员会审议，同意《关于 2025 年第一季度报告的 议案》，并同意将该事项提交董事会审议。 （二）关于风险类三清单流程及管理制度修订的议案 9 票同意，0 票反对，0 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 4,802,877,712.35, representing an increase of 8.50% compared to CNY 4,426,476,040.73 in the same period last year[3] - Net profit attributable to shareholders was CNY 276,920,217.46, a significant increase of 74.07% from CNY 159,088,458.42 year-on-year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached CNY 282,951,950.76, up 112.94% from CNY 132,881,366.83 in the previous year[3] - The basic earnings per share (EPS) was CNY 0.24, an increase of 84.62% compared to CNY 0.13 in the same quarter last year[3] - Total operating revenue for Q1 2025 reached ¥4,802,877,712.35, an increase of 8.5% compared to ¥4,426,476,040.73 in Q1 2024[18] - Net profit for Q1 2025 was ¥277,889,589.60, compared to ¥166,107,969.51 in Q1 2024, representing a significant increase of 67.3%[20] - Earnings per share for Q1 2025 were ¥0.24, up from ¥0.13 in Q1 2024, indicating a growth of 84.6%[20] - The total comprehensive income for Q1 2025 was ¥277,881,251.12, compared to ¥166,853,409.82 in Q1 2024, reflecting an increase of 66.7%[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 9,634,493,362.25, reflecting a growth of 5.45% from CNY 9,136,555,293.95 at the end of the previous year[4] - As of March 31, 2025, the total assets of Zhuzhou Smelter Group Co., Ltd. amounted to CNY 9,634,493,362.25, an increase from CNY 9,136,555,293.95 as of December 31, 2024, reflecting a growth of approximately 5.5%[13] - The company's current assets increased to CNY 4,606,862,450.95 from CNY 4,049,066,611.15, representing a growth of about 13.7%[13] - Total liabilities increased to ¥4,986,382,752.82 in the latest reporting period, compared to ¥4,645,806,133.34 previously, marking an increase of 7.3%[18] - The total equity attributable to shareholders of the parent company rose to ¥4,510,619,858.85 from ¥4,354,464,746.68, reflecting an increase of 3.6%[18] - The company's total liabilities amounted to ¥2,785,339,246.81, compared to ¥2,555,543,769.83, showing a rise of around 9%[26] Cash Flow - The net cash flow from operating activities was CNY 600,234,631.78, which is a 17.21% increase from CNY 512,102,390.91 in the same period last year[3] - Operating cash flow net amount increased to ¥600,234,631.78 from ¥512,102,390.91, representing a growth of approximately 17.5% year-over-year[22] - Total cash inflow from operating activities was ¥5,144,130,951.61, while cash outflow was ¥4,543,896,319.83, resulting in a positive cash flow from operations[22] - Cash inflow from financing activities was ¥440,000,000.00, down from ¥795,891,783.48, a decrease of about 44.8%[23] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 42,062[8] - The largest shareholder, Hunan Shuikoushan Nonferrous Metals Group Co., Ltd., held 321,060,305 shares, accounting for 29.9% of the total shares[8] - The company reported a total of 212,248,593 shares held by Zhuzhou Smelter Group Co., Ltd. as of the latest report[10] - The top ten shareholders include significant holdings from Hunan Xiangtou Jinye Private Equity Investment Fund with 65,370,510 shares and CITIC Securities Co., Ltd. with 14,581,800 shares[10] - The company has not reported any significant changes in shareholder relationships or actions among the top ten shareholders[10] Research and Development - Research and development expenses for Q1 2025 were ¥54,487,812.77, compared to ¥37,567,419.57 in Q1 2024, showing a year-over-year increase of 45%[19] - Research and development expenses for Q1 2025 were ¥4,049,672.79, slightly down from ¥4,145,447.62 in Q1 2024[28] Other Financial Metrics - The company reported a non-recurring loss of CNY 6,031,733.30, primarily due to financial asset valuation losses and other non-operating expenses[6] - The company reported an investment income of ¥8,898,901.61 in Q1 2025, a recovery from a loss of ¥1,960,845.82 in Q1 2024[19] - The investment income for Q1 2025 was ¥20,000,678.58, a significant decrease from ¥139,380,226.70 in Q1 2024[28] - The company incurred financial expenses of ¥7,545,776.21 in Q1 2025, up from ¥4,792,765.05 in Q1 2024, reflecting an increase of 57%[28]