证券代码：601020 证券简称：华钰矿业 公告编号：临 2025-061 号 西藏华钰矿业股份有限公司 关于为控股子公司提供担保的公告 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法律责任。 重要内容提示： 担保对象及基本情况 | | 被担保人名称 | | 贵州亚太矿业有限公司 | | | --- | --- | --- | --- | --- | | | 本次担保金额 | 61,000.00 | 万元 | | | 担 保 对 象 | 实际为其提供的担保余额 | 61,000.00 | 万元 | | | | 是否在前期预计额度内 | □是 | 否 | □不适用：_________ | | | 本次担保是否有反担保 | □是 | 否 | □不适用：_________ | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 61,000.00 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 18.10 | | ...

证券代码：601020 证券简称：华钰矿业 公告编号：临 2025-062 号 西藏华钰矿业股份有限公司 关于召开2025年第四次临时股东会的通知 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： 一、 召开会议的基本情况 (一)股东会类型和届次 2025年第四次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合的方 式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 11 月 13 日 15 点 00 分 召开地点：西藏华钰矿业股份有限公司北京分公司会议室 (五)网络投票的系统、起止日期和投票时间。 股东会召开日期：2025年11月13日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 11 月 13 日 至2025 年 11 月 13 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东会召开当日的交易时间段，即 ...

证券代码：601020 证券简称：华钰矿业 公告编号：临 2025-058 号 西藏华钰矿业股份有限公司 第五届董事会第七次会议决议公告 该议案已经公司董事会审计委员会审议通过。 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）及公 司指定报刊媒体上的相关报告。 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。 一、董事会会议召开情况 西藏华钰矿业股份有限公司（以下简称"公司"）董事会于 2025 年 10 月 18 日向全体董事和部分高级管理人员以书面、电子等方式发出了会议通知和会 议材料。 本次会议于 2025 年 10 月 28 日在公司北京分公司会议室以现场会议和电话 会议相结合的形式召开。本次会议由公司董事长刘良坤先生主持，会议应到董事 8 人，实到董事 8 人，公司高级管理人员列席了本次会议。本次会议的召集、召 开和表决程序符合《中华人民共和国公司法》等法律、行政法规、部门规章、规 范性文件及《西藏华钰矿业股份有限公司章程》（以下简称"《公司章程》"） 的规定。 二、董事会会议审议情况 经 ...

华钰矿业发布2025年第三季度报告，第三季度营收为6.56亿元，同比增长96.97%；净利润为6.19亿元， 同比增长1315.3%。前三季度净利润为8.01亿元，同比增长423.89%。本期净利润增长主要系本期自产品 销量增长及价格上涨；公司本期收购亚太矿业，其中40%股权按照公允价值重新计量，与账面价值产生 差额。 ...

Financial Performance - The company's operating revenue for Q3 2025 reached ¥656,347,215.80, representing a year-on-year increase of 96.97%[6] - Total profit for the period was ¥672,060,305.05, a significant increase of 776.10% compared to the same period last year[6] - Net profit attributable to shareholders was ¥619,208,183.69, reflecting a remarkable growth of 1,315.30% year-on-year[6] - The net profit after deducting non-recurring gains and losses was ¥206,944,842.15, up 353.01% from the previous year[6] - Basic earnings per share for the period were ¥0.75, a substantial rise of 1,150.00% year-on-year[6] - Total operating revenue for the first three quarters of 2025 reached ¥1,459,450,432.29, a significant increase from ¥926,046,556.96 in the same period of 2024, representing a growth of approximately 57.4%[27] - Net profit for the first three quarters of 2025 was ¥884,242,978.44, up from ¥218,205,192.06 in 2024, reflecting a growth of approximately 304.5%[29] - The total comprehensive income for the period reached CNY 1,037,508,546.61, with CNY 941,594,769.78 attributable to the parent company[31] - Basic and diluted earnings per share were both CNY 0.98, compared to CNY 0.19 in the same period last year[31] Assets and Liabilities - The company's total assets increased by 79.27% to ¥10,372,192,333.89 compared to the end of the previous year[8] - The company's total assets increased to ¥10,372,192,333.89 in 2025 from ¥5,785,677,830.17 in 2024, marking a growth of about 79.5%[24] - Non-current liabilities totaled ¥1,216,386,885.87 in 2025, compared to ¥538,066,369.87 in 2024, an increase of approximately 126.4%[24] - The total equity of the company rose to ¥6,419,351,508.52 in 2025 from ¥4,088,727,050.25 in 2024, representing an increase of about 57.0%[24] - The total liabilities increased to ¥2,583,041,870.71 in 2025 from ¥2,106,211,369.18 in 2024, reflecting a growth of 22.7%[39] - The total equity rose to ¥2,964,510,260.03 in 2025, compared to ¥2,694,016,629.02 in 2024, marking an increase of 10%[39] Cash Flow - The company reported a net cash flow from operating activities of ¥662,875,886.84, an increase of 188.59% year-to-date[6] - Cash inflows from operating activities amounted to CNY 1,644,295,001.98, a significant increase from CNY 915,322,971.39 year-over-year[32] - The net cash flow from operating activities was CNY 662,875,886.84, up from CNY 229,693,024.61 in the previous year[33] - The net cash flow from operating activities for the first three quarters of 2025 was ¥329,124,614.40, an increase of 84.8% from ¥178,150,770.00 in the same period of 2024[45] - The company reported a net cash increase of ¥125,001,685.51 in the first three quarters of 2025, compared to a decrease of ¥35,843,239.00 in the same period of 2024[46] Shareholder Information - Total number of common shareholders at the end of the reporting period is 66,715[15] - The largest shareholder, Tibet Daoheng Investment Co., Ltd., holds 124,800,716 shares, accounting for 15.22% of total shares, with 63,470,969 shares pledged[15] - The second largest shareholder, Qinghai Western Rare and Precious Metals Co., Ltd., holds 72,727,464 shares, representing 8.87% of total shares, with 34,811,252 shares pledged[17] - The company has not identified any related party relationships or concerted actions among shareholders[19] - There are no significant changes in the top 10 shareholders or their participation in margin trading[19] Investment and R&D - The increase in revenue and profit was primarily driven by higher product sales and price increases, along with the acquisition of a 40% stake in Asia Pacific Mining[13] - Research and development expenses for the first three quarters of 2025 were ¥6,381,803.50, slightly down from ¥6,446,197.29 in 2024, indicating a focus on cost management[27] - The company's research and development expenses remained stable at approximately ¥6.38 million for the first three quarters of 2025, slightly down from ¥6.45 million in 2024[41] - The company reported an investment income of ¥402,366,348.49 in 2025, a substantial recovery from a loss of ¥12,212,223.59 in 2024[27] - The company plans to continue expanding its market presence and investing in new technologies to sustain growth[13] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[28] Inventory and Receivables - The company's cash and cash equivalents as of September 30, 2025, amount to ¥613,003,391.61, an increase from ¥298,254,030.61 at the end of 2024[21] - Total current assets increased to ¥1,268,929,900.55 from ¥931,071,625.91 year-over-year[21] - The company reported an increase in inventory to ¥506,362,304.91 from ¥369,293,145.67 year-over-year[21] - Other receivables decreased to ¥6,790,436.68 from ¥15,720,095.42 year-over-year[21] - The company's long-term equity investments were valued at ¥446,586,827.64 as of December 31, 2024[21] Cash and Cash Equivalents - Cash and cash equivalents at the end of the period totaled CNY 462,936,437.56, compared to CNY 64,660,068.89 at the end of the previous year[35] - The net increase in cash and cash equivalents for the period was CNY 219,747,737.45, compared to a decrease of CNY 49,963,497.73 in the same period last year[35] - The company's cash and cash equivalents increased significantly, contributing to improved liquidity and financial stability[24]

Group 1 - The non-ferrous metal sector showed significant gains, with the non-ferrous metal leader ETF (159876) reaching a peak increase of 2.96% during the day and closing up 2.39%, reflecting strong bullish sentiment and increased trading volume [1][3] - Among the constituent stocks, Xiamen Tungsten and Huayu Mining hit the daily limit, while Jiangxi Copper rose over 6%, and Western Superconducting increased by more than 5% [1][3] - The performance of the non-ferrous metal sector is robust, with 21 out of 23 disclosed third-quarter reports showing profits, and 16 companies reporting year-on-year net profit growth [3] Group 2 - The U.S. September CPI data came in lower than expected, supporting the Federal Reserve's potential interest rate cuts, which may positively impact industrial metal prices [4][6] - Despite weaker seasonal demand, supply disruptions and low inventory levels are providing price support for industrial metals [4] - The non-ferrous metal sector is characterized by varying degrees of market conditions and drivers, suggesting a diversified investment approach through the non-ferrous metal leader ETF (159876) could be beneficial [6]

Market Overview - On October 27, the industrial metals sector rose by 2.27% compared to the previous trading day, with Huayu Mining leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Top Performers in Industrial Metals - Huayu Mining (601020) closed at 28.74, up 6.52%, with a trading volume of 467,700 shares and a transaction value of 1.319 billion [1] - Jiangxi Copper (600362) closed at 41.53, up 6.24%, with a trading volume of 968,300 shares and a transaction value of 3.974 billion [1] - Zhi'an Technology (300328) closed at 16.77, up 4.81%, with a trading volume of 570,800 shares and a transaction value of 941 million [1] Underperformers in Industrial Metals - Minfa Aluminum (002578) closed at 3.53, down 5.11%, with a trading volume of 603,400 shares and a transaction value of 214 million [2] - Jinhui Co. (603132) closed at 13.48, down 4.26%, with a trading volume of 101,500 shares and a transaction value of 137 million [2] - Yuguang Gold Lead (600531) closed at 12.25, down 4.22%, with a trading volume of 946,800 shares and a transaction value of 1.164 billion [2] Capital Flow Analysis - The industrial metals sector saw a net inflow of 432 million from institutional investors, while retail investors experienced a net outflow of 820 million [2] - Notable net inflows from institutional investors included Jiangxi Copper with 433 million and Luoyang Jiyie with 213 million [3] - Retail investors showed significant outflows in stocks like Jiangxi Copper and Zinc Industry Co., indicating a shift in investor sentiment [3]

Group 1 - The core viewpoint of the news highlights the strong performance of the non-ferrous metal sector, particularly the Non-Ferrous Metal Leader ETF (159876), which saw an intraday increase of 2.96% and a current rise of 2.16%, with a trading volume exceeding 520 million yuan, indicating active trading [1] - Technical analysis indicates that the recovery of the 10-day moving average suggests that short-term bullish forces are strong enough to push the stock price above the "short-term cost line," indicating an advantage for bulls in short-term trading [1] - Key constituent stocks such as Xiamen Tungsten Industry and Jiangxi Copper experienced significant gains, with Xiamen Tungsten hitting the daily limit, and others like Huayu Mining and Western Superconducting rising over 6% [1] Group 2 - The U.S. September CPI data, which came in lower than expected at a year-on-year growth of 3.0% and a core CPI month-on-month increase of 0.2%, provides solid support for the Federal Reserve to consider further interest rate cuts [3] - The impact of potential Fed rate cuts on non-ferrous metal prices is explained through three key points: 1) Rate cuts equate to monetary easing, leading investors to prefer tangible assets; 2) Most non-ferrous metals are priced in USD, and a weaker dollar makes these metals cheaper, boosting global demand; 3) Lower interest rates reduce borrowing costs for companies, increasing demand for industrial metals like copper and aluminum [3] - The outlook for the non-ferrous metal sector is optimistic, driven by long-term capital expenditure cycles and increasing global manufacturing investment, alongside a recovery in domestic macroeconomic conditions, positioning non-ferrous metals as a core component of the current commodity bull market [3] Group 3 - The Non-Ferrous Metal Leader ETF (159876) and its linked funds provide a diversified investment approach by passively tracking the CSI Non-Ferrous Metal Index, which includes significant weights in copper (27.6%), gold (14.5%), aluminum (13.1%), rare earths (10.4%), and lithium (8.4%), thus helping to mitigate risks associated with investing in single metal sectors [5]

Investment Rating - Industry rating: Recommended [3] Core Insights - The report emphasizes the strategic revaluation of key metals, particularly focusing on rare earths and cobalt [24] - Nickel prices are expected to be supported due to tightened supply expectations following Indonesia's new regulation reducing the approval cycle for mining plans from three years to one year [26][27] - Cobalt prices have continued to rise, with expectations of increasing supply tightness further driving prices up [30][33] - Antimony supply is expected to remain tight, providing a bottom support for antimony prices [34] - Lithium carbonate prices are projected to remain strong due to ongoing demand and inventory depletion [16] - China's dominance in rare earth supply is reinforced by stricter export controls, which are expected to support rare earth prices [18] - Tin supply remains uncertain due to ongoing challenges in overseas supply, which is expected to support tin prices [19] - Tungsten prices are supported by a tightening supply situation, with production rates slowing down [20] - Uranium supply tightness is anticipated to continue, supporting uranium prices [21] Summary by Sections Nickel and Cobalt Industry Update - Indonesia's new regulation on mining approvals is expected to tighten future ore supply, supporting nickel prices [26] - As of October 24, LME nickel price was $15,085 per ton, up 1.04% from October 17 [26] - Cobalt prices have risen significantly, with electrolytic cobalt reaching 408,500 CNY per ton, a 6.94% increase [30] Antimony Industry Update - Domestic antimony prices have decreased, but long-term supply tightness is expected to support prices [34] - China's antimony production is projected to dominate global supply, accounting for 60% of the total [34] Lithium Industry Update - Lithium carbonate prices have increased, with a market average of 73,700 CNY per ton as of October 24 [16] - Demand from the battery sector continues to drive price support [16] Rare Earth Industry Update - China's strict export controls on rare earths are expected to tighten supply and support prices [18] - The report highlights the importance of China's role in the global rare earth supply chain [18] Tin Industry Update - Tin prices are supported by supply uncertainties, particularly from Myanmar and Indonesia [19] - As of October 24, LME tin price was $35,925 per ton, up 2.42% from October 17 [19] Tungsten Industry Update - The tungsten supply situation is tightening, with production rates slowing down [20] - Prices for tungsten concentrate have increased, reflecting supply constraints [20] Uranium Industry Update - The report indicates a continued tight supply situation for uranium, supporting price stability [21] - Recent production guidance reductions from major suppliers are expected to impact future supply [21]

Core Viewpoint - The industrial metal sector experienced a 2.0% increase on October 24, with Chang Aluminum leading the gains, while the Shanghai Composite Index rose by 0.71% and the Shenzhen Component Index increased by 2.02% [1] Summary by Category Market Performance - The industrial metal sector saw a significant rise, with Chang Aluminum's stock price closing at 5.46, reflecting a 10.08% increase [1] - The Shanghai Composite Index closed at 3950.31, up by 0.71%, and the Shenzhen Component Index closed at 13289.18, up by 2.02% [1] Individual Stock Performance - Notable performers in the industrial metal sector included: - Chang Aluminum (002160): 5.46, +10.08%, 2.546 million shares traded, 1.366 billion yuan in turnover [1] - Luoyang Zhenye (603993): 16.78, +5.53%, 3.2922 million shares traded, 545 million yuan in turnover [1] - Jiangxi Copper (600362): 39.09, +5.28%, 811,900 shares traded, 3.109 billion yuan in turnover [1] - Western Mining (601168): 24.20, +4.09%, 676,000 shares traded, 1.594 billion yuan in turnover [1] - Yunnan Copper (000878): 18.59, +3.80%, 855,900 shares traded, 1.569 billion yuan in turnover [1] Capital Flow - The industrial metal sector saw a net inflow of 1.148 billion yuan from main funds, while retail investors experienced a net outflow of 698 million yuan [1] - The overall capital flow indicated a mixed sentiment, with speculative funds showing a net outflow of 450 million yuan [1]