西藏华钰矿业股份有限公司 2025 年年度业绩预增公告 证券代码：601020 证券简称：华钰矿业 公告编号：临 2026-007 号 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： 本期业绩预告适用于实现盈利，且净利润与上年同期相比上升50%以上 的情形。 西藏华钰矿业股份有限公司（以下简称"公司"）2025年年度实现归属 于上市公司股东的净利润预计为80,000万元到90,000万元，与上年同期（法 定披露数据）相比，预计将增加54,668万元到64,668万元，同比增加215.80% 到255.28%。 2025年1月1日至2025年12月31日 （二）业绩预告情况 1、经公司财务部门初步测算，预计2025年年度实现归属于上市公司股东的 净利润为80,000万元到90,000万元。与上年同期（法定披露数据）相比，预计将 增加54,668万元到64,668万元，同比增加215.80%到255.28%。 2、预计2025年年度实现归属于上市公司股东扣除非经常性损益后的净利润 为38,000万元到48,000万 ...

报告期内，国内外有色金属市场需求旺盛，价格持续走高。在此背景下，公司充分受益于贵金属以及小 金属市场的持续景气，带动公司营业收入实现同比大幅增长。 格隆汇1月27日丨华钰矿业(601020.SH)公布，公司2025年年度实现归属于上市公司股东的净利润预计为 80,000万元到90,000万元，同比增加215.80%到255.28%。归属于上市公司股东扣除非经常性损益的净利 润预计为38,000万元到48,000万元，同比增加50.44%到90.02%。 ...

（文章来源：每日经济新闻） 每经AI快讯，1月27日，华钰矿业(601020.SH)发布2025年年度业绩预告，预计归属于上市公司股东的净 利润为8亿元到9亿元，比上年同期增长215.80%到255.28%。业绩变动原因：报告期内有色金属市场需 求旺盛、价格走高，公司受益于贵金属及小金属市场景气，营业收入大幅增长；同时非经常性损益同比 大幅增加。 ...

Group 1 - The core point of the news is that Huayu Mining's stock price dropped by 5.1% to 36.82 CNY per share, with a trading volume of 1.761 billion CNY and a turnover rate of 5.69%, resulting in a total market capitalization of 30.191 billion CNY [1] - Huayu Mining, established on October 22, 2002, and listed on March 16, 2016, is primarily engaged in non-ferrous metal mining, mineral processing, geological exploration, and trading [1] - The revenue composition of Huayu Mining includes 45.30% from self-produced gold abroad, 33.37% from domestic lead-antimony concentrate (including silver), 14.87% from domestic zinc concentrate, 5.63% from self-produced antimony abroad, 0.54% from other sources, and 0.30% from domestic copper concentrate [1] Group 2 - From the perspective of Huayu Mining's top ten circulating shareholders, a fund under Yongying Fund ranks among the top shareholders, with the Golden Stock ETF (517520) newly entering the top ten shareholders in the third quarter, holding 7.5535 million shares, accounting for 0.92% of circulating shares [2] - The Golden Stock ETF (517520) was established on October 24, 2023, with a latest scale of 12.55 billion CNY, achieving a year-to-date return of 36.43%, ranking 3rd out of 5548 in its category; over the past year, it has returned 144.01%, ranking 3rd out of 4285; and since inception, it has returned 179.85% [2]

有色金属板块多数低开，耐普矿机跌超5%，华锡有色、华钰矿业、北方铜业、锡业股份、国城矿业低 开超4%。 ...

Company Performance - Huayu Mining's stock price reached a historical high, increasing by 6.13% to 37.57 yuan, with a trading volume of 8.76 million shares and a transaction amount of 324 million yuan, resulting in a turnover rate of 1.07% [2] - The company reported a total revenue of 1.459 billion yuan for the first three quarters, representing a year-on-year growth of 57.60%, and a net profit of 800 million yuan, reflecting a significant year-on-year increase of 423.89% [2] - The basic earnings per share were reported at 0.9800 yuan, with a weighted average return on equity of 21.23% [2] Industry Overview - The non-ferrous metals industry, to which Huayu Mining belongs, experienced an overall increase of 3.64%, with 118 stocks rising, including seven stocks hitting the daily limit [2] - Among the stocks that declined, the largest drop was seen in Bowei Alloy, with a decrease of 10.00%, followed by Sruy New Materials and Tianli Composite, with declines of 4.25% and 3.74% respectively [2] Margin Trading Data - As of January 23, the margin trading balance for Huayu Mining was 1.935 billion yuan, with a financing balance of 1.931 billion yuan, showing an increase of 266 million yuan over the past 10 days, which is a 16.00% increase [2]

Investment Rating - The industry rating is "Recommended" [3] Core Views - Short-term raw material supply tightness is expected to support nickel prices, with LME nickel spot price reaching $18,630 per ton, up 5.70% from January 16 [1] - The cobalt market is anticipated to see continued price increases due to structural supply tightness, with electrolytic cobalt priced at 438,000 yuan per ton, down 3.74% from January 16 [2][5] - Domestic antimony supply remains tight, providing price support, with antimony ingot prices at 160,500 yuan per ton [6] - Lithium carbonate prices are expected to continue rising, with a market average of 171,100 yuan per ton, up 8.36% from January 16 [8][19] - Supply uncertainties in the rare earth market are expected to support prices, with significant global supply concentration in China [10][20] - Tin prices are supported by overseas supply uncertainties, with LME tin prices at $54,200 per ton, up 9.66% from January 16 [11][21] - Tungsten market supply-demand imbalance is notable, with white tungsten concentrate prices at 535,500 yuan per ton, up 5.93% from January 16 [13][22] - Uranium supply tightness is expected to persist, with global uranium prices at $63.51 per pound [14][15] Summary by Sections Nickel and Cobalt Industry Update - Nickel prices are supported by supply constraints, with Indonesia's nickel mining production quota expected to be reduced to 250-260 million tons [1][16] - Cobalt supply is projected to tighten further, with Congo's export quotas confirmed to extend into 2026 [2][17] Antimony Industry Update - Antimony supply remains tight, with domestic prices expected to rise due to export restrictions and seasonal supply issues [6][18] Lithium Industry Update - Lithium carbonate prices are expected to remain strong due to demand support and supply uncertainties, particularly regarding the recovery of key lithium mines [8][19] Rare Earth Industry Update - The rare earth market is facing supply tightening due to export bans and geopolitical factors, with China maintaining a dominant position [10][20] Tin Industry Update - Tin prices are supported by uncertainties in overseas supply, particularly from Myanmar and Congo [11][21] Tungsten Industry Update - The tungsten market is experiencing a supply-demand imbalance, with prices expected to rise due to limited new supply [13][22] Uranium Industry Update - Uranium prices are supported by ongoing supply tightness and geopolitical factors affecting production [14][15]

Investment Rating - The investment rating for the small metals industry is "Positive" (maintained) [5] Core Views - The supply-demand tension continues, with tungsten and tin prices breaking historical highs [4] - Rare earth elements are experiencing a supply tightness, leading to increased prices, particularly for praseodymium and neodymium oxide, which rose by 7.69% to 672,500 CNY/ton [12] - Molybdenum prices are expected to stabilize due to cost support and improved supply-demand dynamics, despite a recent decline [23] - Tungsten prices are at historical highs due to supply contraction and price increases in long-term contracts [30] - Tin prices are strong due to macroeconomic factors and ongoing supply disruptions, with SHFE tin rising by 21.85% to 429,600 CNY/ton [33] - Antimony prices are fluctuating, awaiting signals for export recovery, with recent increases noted [42] Summary by Sections Rare Earths - Praseodymium and neodymium oxide prices increased by 7.69% to 672,500 CNY/ton, while dysprosium decreased by 1.39% to 1,420,000 CNY/ton [12][4] - The supply side remains tight due to policy and supply constraints, while demand from downstream magnetic material companies has shifted from just-in-time purchasing to stockpiling [4] Molybdenum - Molybdenum concentrate prices fell by 1.94% to 4,035 CNY/ton, and molybdenum iron prices decreased by 1.90% to 258,500 CNY/ton [23] - The market sentiment is supported by a stabilization in international molybdenum oxide prices and reduced mine shipments [23] Tungsten - Black tungsten concentrate prices rose by 11.43% to 536,000 CNY/ton, and ammonium paratungstate prices increased by 12.06% to 790,000 CNY/ton [30] - Supply is tightening due to reduced mining quotas and slower production rates, while domestic demand remains stable [30] Tin - SHFE tin prices increased by 21.85% to 429,600 CNY/ton, and LME tin prices rose by 21.73% to 54,200 USD/ton [33] - Supply disruptions from key mining regions and strong demand from traditional and emerging sectors are driving price increases [33] Antimony - Antimony ingot prices rose by 1.26% to 160,500 CNY/ton, and antimony concentrate prices increased by 1.42% to 142,500 CNY/ton [42] - The supply remains tight, and demand is expected to decline as the market approaches the Lunar New Year [42]

Meeting Overview - The first extraordinary general meeting of shareholders was held on January 22, 2026, at the Beijing branch of Tibet Huayu Mining Co., Ltd [1] - The meeting was presided over by Chairman Liu Liangkun, and voting was conducted through a combination of on-site and online methods [1][2] Attendance and Voting - All 9 current directors attended the meeting, along with the company secretary and other key executives [2] - The proposal regarding providing guarantees to Asia Pacific Mining was approved, receiving more than half of the valid voting rights held by attending shareholders [3] Legal Compliance - The meeting was witnessed by Beijing Deheng (Jinan) Law Firm, confirming that the procedures, attendance, and voting conformed to relevant laws and the company's articles of association [4]

北京德恒（济南）律师事务所 关于西藏华钰矿业股份有限公司 2026 年第一次临时股东会的 法律意见 山东省济南市高新区舜泰北路 567 号银丰科技公园 2 号楼 电话：+86 531-8166 3606 传真：+86 531-8166 3607 邮编：250102 北京德恒（济南）律师事务所 关于西藏华钰矿业股份有限公司 2026 年第一次临时股东会的法律意见 法律意见 北京德恒（济南）律师事务所 关于西藏华钰矿业股份有限公司 2026 年第一次临时股东会的 德 11G20240040-09 号 致：西藏华钰矿业股份有限公司 北京德恒（济南）律师事务所（以下简称"本所"）受西藏华钰矿业股份有 限公司（以下简称"华钰矿业"或"公司"）委托，指派杨昕炜律师、肖彬律师 （以下简称"本所律师"）出席公司 2026 年第一次临时股东会（以下简称"本 次股东会"），并对本次股东会的合法性进行见证并出具法律意见。 本法律意见根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股东会规 则》以及《西藏华钰矿业股份有限公司章程》（以下简称"《公司章程》"）、 ...