Market Performance - The trade sector increased by 0.91% on September 5, with Kerryde leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Stock Performance - Notable gainers included: - Xunruide (002072) with a closing price of 7.68, up 6.22% and a trading volume of 113,100 shares [1] - Jiangsu Guotai (002091) closed at 8.49, up 4.04% with a trading volume of 687,700 shares [1] - Yiatong (002183) closed at 4.84, up 1.47% with a trading volume of 873,000 shares [1] Capital Flow - The trade sector saw a net inflow of 18.62 million yuan from main funds, while retail investors experienced a net outflow of 66.05 million yuan [2][3] - Jiangsu Guotai (002091) had a significant net inflow of 69.46 million yuan from main funds, but a net outflow of 77.59 million yuan from retail investors [3] Individual Stock Analysis - Kerryde (002072) had a net inflow of 6.28 million yuan from main funds, but also saw a net outflow of 9.27 million yuan from retail investors [3] - Su Meida (600710) experienced a net inflow of 2.93 million yuan from main funds, while retail investors had a net outflow of 12.73 million yuan [3]

有色金属业务上半年收入达511亿元，同比增长14.35%，占总营收比重提升至80.20%；其中，铌业务国 内市占率稳定在80%；铜业务基础和盈利能力不断提升。在投资领域，公司参股的世界级矿山项目秘鲁 邦巴斯铜矿实现了产销量的同比大幅增长，艾芬豪旗下KK铜矿及Kipushi锌矿产量也实现同比提升。 中证报中证网讯(王珞)9月4日，中信金属（601061）举办2025年半年度业绩说明会。针对投资者提出的 上半年公司经营相关问题，中信金属管理层表示，上半年实现营业收入636.57亿元；归属于上市公司股 东的净利润14.48亿元，同比增长30.90%。 ...

Core Insights - In the first half of 2025, CITIC Metal achieved operating revenue of 63.657 billion yuan and a net profit attributable to shareholders of 1.448 billion yuan, representing a year-on-year growth of 30.90% [1] Group 1: Financial Performance - CITIC Metal's revenue from non-ferrous metal business reached 51.1 billion yuan, with a year-on-year increase of 14.35%, accounting for 80.20% of total revenue [1] - The company faced challenges in the black metal industry due to weak demand but successfully adjusted its business structure [1] Group 2: Operational Highlights - The copper business overcame adverse factors such as the turmoil in the Democratic Republic of the Congo, fluctuations in upstream shipping plans, and logistics issues in Africa, enhancing its marketing network and expanding upstream and downstream channel construction [1] - The production volume of the participating mine, the Bamba Copper Mine in Peru, increased by over 50% year-on-year [1] - The Kipushi zinc mine's production of concentrate increased by 64% compared to the total production in 2024 [1] - The global market share of the Brazilian mining and metallurgy company remained above 70% [1]

Group 1 - The company held a half-year performance briefing on September 4, 2025, attended by key executives and independent directors to interact with investors [1] - In the first half of 2025, the company achieved operating revenue of 63.657 billion yuan, a year-on-year decrease of 0.92%, while net profit attributable to shareholders increased by 30.90% to 1.448 billion yuan [2] - The company’s non-ferrous metal business generated revenue of 51.1 billion yuan, a year-on-year increase of 14%, accounting for 80% of total revenue, highlighting its significant contribution to overall performance [2] Group 2 - The company is focused on strengthening its core capabilities and enhancing trade and investment operations, with an emphasis on technological empowerment and risk management optimization for high-quality development [2] - The company’s overseas investment projects, particularly the Peru Bamba copper mine, showed stable production with a year-on-year increase in both production and sales exceeding 50%, marking the first dividend since its acquisition in 2014 [2] - The company is committed to green development and has integrated ESG principles into its governance structure, receiving an A rating from institutions like Zhongzheng and WIND, and has been recognized with multiple ESG awards [3]

证券代码：601061 证券简称：中信金属 公告编号：2025-041 中信金属股份有限公司关于 2025 年半年度业绩说明会召开情况的公告 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。 中信金属股份有限公司（以下简称"公司"或"中信金属"）于 2025 年 9 月 4 日 下 午 14:00-15:00 通 过 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/）以网络互动的形式召开 2025 年半年度业绩说 明会，现将有关事项公告如下： 1.公司 2025 年上半年取得了亮眼的业绩，请问公司主要营业收入结构、变 动、占比情况如何？有哪些经营亮点？对 2025 年全年经营业绩有何展望？ 尊敬的投资者您好。2025 年上半年，全球经济不确定性显著增强，面对错 综复杂的外部经营环境，中信金属坚定贯彻"贸易+资源（投资）"双轮驱动的 发展战略，着力强化科技赋能业务发展，坚持稳中求进、以进促稳的工作基调， 多措并举、精准施策，保持住了稳健发展的良好态势。上半 ...

Company Overview - CITIC Metal Co., Ltd. is primarily engaged in the trading of metals and mineral products, with a revenue composition of 80.20% from non-ferrous metals, 19.46% from ferrous metals, and 0.33% from other trading activities [1] - The company was established on January 23, 1988, and was listed on April 10, 2023 [1] Stock Performance - As of September 2, CITIC Metal's stock price was 9.12 CNY per share, with a market capitalization of 44.688 billion CNY [1] - The stock has increased by 28.60% year-to-date, with a 4.71% rise over the last five trading days, 11.36% over the last 20 days, and 17.80% over the last 60 days [1] Financial Performance - For the first half of 2025, CITIC Metal reported a revenue of 63.657 billion CNY, a year-on-year decrease of 0.92%, while the net profit attributable to shareholders increased by 30.90% to 1.448 billion CNY [2] - The company has distributed a total of 2.293 billion CNY in dividends since its A-share listing [3] Shareholder Structure - As of July 18, the number of CITIC Metal shareholders was 74,700, a decrease of 1.44% from the previous period [2] - The largest shareholder is Hong Kong Central Clearing Limited, holding 12.3417 million shares, an increase of 3.3746 million shares from the previous period [3] - The second-largest shareholder is Southern CSI 500 ETF, holding 8.1335 million shares, with an increase of 1.2959 million shares [3]

Market Overview - On September 1, the trade sector declined by 0.2% compared to the previous trading day, with Jiangsu Shuntian leading the decline [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Stock Performance - Notable gainers in the trade sector included: - Yimeng 5 (Code: 600128) with a closing price of 11.06, up 4.83% and a trading volume of 214,900 shares [1] - CITIC Metal (Code: 601061) with a closing price of 9.31, up 3.22% and a trading volume of 514,000 shares [1] - Kairuide (Code: 002072) with a closing price of 7.33, up 2.81% and a trading volume of 91,100 shares [1] - Jiangsu Shuntian (Code: 600287) was the biggest loser, closing at 6.11, down 3.63% with a trading volume of 126,700 shares [2] Capital Flow - The trade sector experienced a net outflow of 27.19 million yuan from institutional investors, while retail investors saw a net inflow of 30.39 million yuan [2][3] - Key stocks with significant capital flow included: - CITIC Metal had a net outflow of 42.94 million yuan from institutional investors [3] - Jiangsu Guotai (Code: 002091) saw a net inflow of 12.12 million yuan from institutional investors [3] - Huaihong Group (Code: 600981) had a net inflow of 9.25 million yuan from institutional investors [3]

Investment Rating - The report maintains a "Cautious Recommendation" rating for the company [6] Core Views - The company reported better-than-expected performance driven by both investment and trading activities, with a notable increase in net profit and significant growth in investment income from mining operations [1][2] - The future outlook highlights continued growth in mining investments and a dual-driven strategy of trade and investment [3][4] Summary by Sections Financial Performance - In H1 2025, the company achieved revenue of 63.657 billion yuan, a year-on-year decrease of 0.92%, while net profit attributable to shareholders was 1.448 billion yuan, up 30.90% year-on-year [1] - The second quarter of 2025 saw revenue of 35.408 billion yuan, a year-on-year decrease of 5.37% but a quarter-on-quarter increase of 25.34% [1] Investment Income - Investment income from joint ventures reached 1.097 billion yuan in H1 2025, an increase of 799 million yuan year-on-year, with significant contributions from projects like BHP and Ivanhoe [2] - The report indicates that the company has established long-term stable partnerships with globally recognized mining enterprises [4] Trading Performance - The trading segment for non-ferrous and ferrous metals generated revenues of 51.055 billion yuan and 12.391 billion yuan respectively, with non-ferrous trading up 14.35% and ferrous trading down 35.83% year-on-year [2] - The gross margin for non-ferrous and ferrous metals was 1.75% and 1.22%, reflecting a year-on-year change of -0.39 and +2.68 percentage points respectively [2] Future Outlook - The report emphasizes the ongoing expansion of mining investments, particularly in the BHP copper mine, which saw a 67% increase in copper production in H1 2025 [3] - The company is positioned as a key distributor for various mining products in China, enhancing its competitive advantage in the market [4] Profit Forecast - The projected net profit for 2025-2027 is estimated at 2.911 billion yuan, 3.337 billion yuan, and 3.591 billion yuan respectively, with corresponding PE ratios of 15x, 13x, and 12x [5][4]

Core Viewpoint - CITIC Metal reported strong financial performance in the first half of 2025, with significant growth in revenue and net profit, driven by strategic adjustments and market adaptability [2][3]. Financial Performance - In the first half of 2025, CITIC Metal achieved operating revenue of 63.657 billion yuan, with a net profit attributable to shareholders of 1.448 billion yuan, representing a year-on-year increase of 30.90% [2]. - The net profit excluding non-recurring gains and losses was 1.385 billion yuan, showing a remarkable year-on-year growth of 103.98% [2]. Business Segments - The non-ferrous metal business generated revenue of 51.1 billion yuan, reflecting a year-on-year increase of 14.35% [2]. - The copper business successfully navigated challenges such as instability in the Democratic Republic of Congo and logistics issues in Africa, enhancing marketing networks and expanding upstream and downstream channels [2]. - The niobium business strengthened collaborations with Brazilian mining companies and strategic clients, maintaining a domestic market share of 80% and solidifying its leading position in traditional steel sectors [2]. Investment Activities - CITIC Metal enhanced post-investment management of projects, yielding good investment returns [3]. - The production and sales of the Bamba copper mine in Peru increased by over 50% year-on-year, marking the first dividend since its acquisition in 2014 [3]. - The KK copper mine, operated by Ivanhoe Mines, produced 245,000 tons of copper concentrate in the first half, a 31% increase year-on-year [3]. - The Kipushi zinc mine, recognized for its high-grade zinc, reported a resource of 11.78 million tons and produced 85,000 tons of zinc concentrate, a 64% increase compared to the entire year of 2024 [3]. Technological Innovation - CITIC Metal emphasized the importance of technological innovation as a strategic pillar, aiming to enhance business capabilities through technology [3]. - The company plans to promote high-strength steel technology in automotive manufacturing and explore advanced battery materials for electric vehicles and nanocrystalline magnetic materials [3].

Market Overview - On August 28, the trade sector rose by 0.85% compared to the previous trading day, with Wukuang Development leading the gains [1] - The Shanghai Composite Index closed at 3843.6, up 1.14%, while the Shenzhen Component Index closed at 12571.37, up 2.25% [1] Stock Performance - Wukuang Development (600058) closed at 10.65, with an increase of 8.78% and a trading volume of 841,700 shares, amounting to a transaction value of 874 million [1] - CITIC Metal (601061) closed at 8.95, up 5.05%, with a trading volume of 600,700 shares [1] - Nanjing Commercial Travel (600250) closed at 11.73, up 2.09%, with a trading volume of 162,000 shares [1] - Other notable stocks include Jiangsu Shuntian (600287) and Huihong Group (600981), which saw minor increases of 0.66% and 0.63% respectively [1] Capital Flow - The trade sector experienced a net inflow of 69.74 million in main funds, while retail funds saw a net outflow of 26.26 million [2] - Main funds showed a significant net inflow in Wukuang Development, amounting to 10.8 million, while retail funds had a net outflow of 50.13 million [3] - Jiangsu Guotai (002091) had a net inflow of 4.62 million from main funds, but also saw a net outflow of 10.35 million from retail investors [3]