（文章来源：证券日报） 证券日报网讯 2月24日，金田股份在互动平台回答投资者提问时表示，公司截至2026年2月10日的股东 总户数为131505户。 ...

截至2025年三季度末，公司总资产为287.9亿元，较2024年末增长11.6%；归母净资产为101.76亿元，较 2024年末增长21.9%，财务结构保持稳健。 尽管前三季度经营活动产生的现金流量净额为-12.01亿元，但销售商品收到的现金总额达到998.30亿 元，且高于营业收入，显示公司销售回款能力较强。同时，前三季度收到客户的订单金额为5.09亿元， 同比增长50.07%，为未来收入提供了有力支撑。 业务进展情况 公司持续推进"产品、客户双升级"策略，产品在新能源电磁扁线等高端应用领域深化，海外市场拓展取 得成效。例如，新能源电磁扁线产能已提升至6万吨，并在800V高压平台等项目中实现批量供货。 财务状况 经济观察网 根据金田股份（601609.SH）发布的2025年第三季度报告及相关公开信息，其最新财报的亮 点主要体现在以下几个方面： 业绩经营情况 2025年前三季度，公司实现归母净利润5.88亿元，同比增长104.37%。其中，第三季度单季归母净利润 为2.15亿元，同比增长30.30%。扣除非经常性损益后的净利润增长更为突出，前三季度扣非净利润同比 上升205.69%，第三季度单季同比大幅增长1 ...

Core Insights - The refined copper industry in China is experiencing steady development driven by policies promoting clean production, recycling, and industrial upgrades, transitioning towards safety, green practices, and high-end development [1][5][6] - The industry is characterized by a supply-demand gap, with production expected to reach 14.72 million tons and demand at 17.66 million tons by 2025, indicating a narrowing but still existing supply-demand imbalance [1][8][9] - Future trends in the industry will focus on raw material restructuring, technological upgrades, and optimization of the industrial landscape to achieve high-quality development [1][10][12] Industry Overview - Refined copper is a high-purity copper product obtained through various refining processes, essential for electrification and the new energy era [1][3] - The industry is segmented based on refining processes, product forms, and raw material sources, including primary and recycled copper [3][4] Policy Analysis - China's refined copper industry is heavily influenced by a comprehensive policy framework aimed at green transformation, recycling, and industrial upgrades, with multiple initiatives launched to support these goals [5][6] Industry Chain Analysis - The upstream segment focuses on copper ore mining and scrap copper recycling, with a high dependency on foreign copper ore resources exceeding 78% [6][8] - The midstream sector, while globally leading in smelting capacity, faces profit pressures due to international processing fees and raw material costs [6][8] - The downstream demand is characterized by traditional sectors stabilizing and emerging sectors driving growth, with the power industry being the largest consumer [7][8] Current Development Status - China's refined copper production is projected to reach 14.72 million tons by 2025, marking a 10.4% increase, maintaining its position as the world's largest producer [8] - The demand for refined copper is expected to grow to approximately 17.66 million tons by 2025, with emerging sectors like new energy and AI data centers becoming key growth drivers [8][9] Price Trends - Global refined copper prices have remained high, with LME copper futures rising from $8,801 per ton at the beginning of 2025 to $12,496.5 per ton by year-end, reflecting a 41.99% annual increase [9] Future Development Trends - The industry will see a restructuring of raw material supply, with recycled copper becoming a core component, supported by policies promoting circular economy practices [10][11] - Technological innovation will drive the industry towards high-end transformation, focusing on low-energy smelting and high-performance copper materials [12] - The industry structure will continue to optimize, enhancing supply chain resilience and concentration, with a focus on integrating small and medium enterprises into specialized niches [13]

Core Viewpoint - The rare earth market shows mixed price trends for key products, with some experiencing slight declines while others see modest increases, indicating a cautious market environment as the Chinese New Year approaches [1] Price Trends - Praseodymium and neodymium oxide average price is 841,300 CNY/ton, down 1,200 CNY/ton - Praseodymium and neodymium metal average price is 1,005,700 CNY/ton, down 4,300 CNY/ton - Dysprosium oxide average price is 1,452,900 CNY/ton, up 6,800 CNY/ton - Terbium oxide average price is 6,320,000 CNY/ton, up 30,000 CNY/ton [1] Market Activity - Limited transaction information for products like neodymium oxide, praseodymium oxide, lanthanum cerium oxide, and europium oxide, suggesting low purchasing interest - Most companies are in holiday mode, with only a few trading firms remaining active, leading to a low overall procurement willingness [1] Stock Performance - A-share market performance for rare earth permanent magnet concept stocks shows: - Shenghe Resources (600392) latest price 30.91 CNY, up 7.36%, transaction volume 4.319 billion CNY - China Rare Earth (000831) latest price 58.36 CNY, up 3.11%, transaction volume 3.050 billion CNY - Other notable stocks include Zhongxi Rare Earth (600259), Jintian Co. (601609), and Huaxin Environmental (301265) with varying price increases and transaction volumes [1]

Core Viewpoint - The rare earth concept stocks in the A-share market experienced a significant increase, driven by rising prices of rare earth products, particularly praseodymium oxide and neodymium oxide, which have seen substantial price hikes this year [1][2]. Price Trends - As of February 11, the average price of praseodymium oxide reached 877,000 yuan per ton, with an increase of over 260,000 yuan per ton this year, representing a growth of 43.42% - The average price of neodymium oxide reached 870,000 yuan per ton, with a year-to-date increase of 260,000 yuan per ton, reflecting a growth of 42.62% - The cumulative price increase for praseodymium-neodymium, metallic neodymium, and metallic praseodymium has exceeded 35% this year [1]. Stock Performance - 盛和资源 (Shenghe Resources) saw a price increase of 5.94% with a total market value of 53.5 billion yuan and a year-to-date increase of 41.66% [2] - 金田股份 (Jintian Co.) increased by 3.90%, with a market value of 20.3 billion yuan and a year-to-date increase of 8.61% [2] - 厦门铝业 (Xiamen Tungsten) rose by 3.42%, with a market value of 101.9 billion yuan and a year-to-date increase of 56.28% [2] - 华新环保 (Hua Xin Environmental) increased by 3.36%, with a market value of 4.469 billion yuan and a year-to-date increase of 6.04% [2] - Other notable stocks include 九菱科技 (Jiuling Technology) with a 2.59% increase, 中色股份 (China Nonferrous) with a 2.39% increase, and 中国稀土 (China Rare Earth) with a 2.26% increase [2].

Group 1 - The core viewpoint of the article highlights a significant increase in rare earth concept stocks in the A-share market, with notable gains for companies such as Shenghe Resources, Jintian Co., Xiamen Tungsten, and Huaxin Environmental Protection [1] - As of February 11, the average price of praseodymium oxide reached 877,000 yuan per ton, reflecting an increase of over 260,000 yuan per ton this year, which corresponds to a growth rate of 43.42% [1] - The average price of neodymium oxide reached 870,000 yuan per ton, with a year-to-date increase of 260,000 yuan per ton, resulting in a growth rate of 42.62% [1] Group 2 - The cumulative growth rates for praseodymium-neodymium oxide, metallic neodymium, and metallic praseodymium have all exceeded 35% this year [1]

Core Viewpoint - The non-ferrous metal sector continues to show strong performance, with the popular ETF, Huabao Non-Ferrous ETF (159876), experiencing a rise of 1.38% and recovering key moving averages, indicating a bullish trend in the market [1][3]. Industry Performance - The non-ferrous metal sector is witnessing significant gains, with leading stocks such as Baotai Co. rising over 6%, and Shenghe Resources increasing by more than 4% [1][2]. - The global nickel market is affected by Indonesia's production limits, which could reduce nickel output to 2.6-2.7 million tons by 2026, potentially leading to a price recovery for nickel [2]. Macroeconomic Factors - The U.S. non-farm payrolls increased by 130,000 in January, surpassing expectations, while the unemployment rate fell to 4.3%, the lowest since August 2025 [3]. - The strong labor market data has reduced the likelihood of interest rate cuts by the Federal Reserve, positively impacting the dollar index and U.S. Treasury yields [3]. Investment Outlook - Analysts from Zhongjin Securities and Huatai Securities express optimism about the non-ferrous metal sector, suggesting that the market has not yet reached its peak and may continue to rise after a short-term adjustment [3]. - The Huabao Non-Ferrous ETF covers a wide range of metals, including copper, aluminum, gold, rare earths, and lithium, making it an effective tool for investors looking to capitalize on the sector's performance [3].

Group 1 - In January 2026, the number and scale of share buyback plans from A-share companies decreased, with 26 companies disclosing new buyback plans compared to 35 in December 2025, indicating a decline in both quantity and scale [1] - The total proposed buyback amount from these 26 companies is approximately 5.682 billion yuan, a decrease of 46.13% from December's 10.548 billion yuan, showing a significant drop in both the number of plans and the total amount [1] - Despite the overall decline, large buybacks remain dominant, with 18 companies planning to repurchase over 100 million yuan, accounting for 69.23% of the total, reflecting strong confidence in their own value [1] Group 2 - Leading companies in the buyback amount for January include Midea Group, Kweichow Moutai, SF Express, Century Huatong, and Yanjinpuzi, with buybacks of 488 million yuan, 451 million yuan, 357 million yuan, 301 million yuan, and 218 million yuan respectively [2] - Both Midea Group and SF Express have exceeded their proposed buyback lower limits, although their buyback paces differ significantly [2]

Core Viewpoint - The company emphasizes that its stock price performance in the secondary market is influenced by various factors and is committed to strategic leadership and international expansion [1] Group 1: Strategic Initiatives - The company will continue to deepen customer cooperation and product applications in high-end industries and emerging fields [1] - The company aims to effectively advance its operational management to deliver good performance for investors [1] Group 2: Investor Relations - The company is enhancing its investor relations management to accurately convey its value [1] - The company is implementing share buyback measures and promoting ESG advocacy and practices to foster value growth and sustainable development [1]

| 证券代码：601609 | 证券简称：金田股份 | 公告编号：2026-011 | | --- | --- | --- | | 债券代码：113046 | 债券简称：金田转债 | | 宁波金田铜业（集团）股份有限公司 关于归还临时补充流动资金的募集资金的公告 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： 截至 2026 年 2 月 6 日，公司已累计归还临时补充流动资金的闲置募 集资金人民币 15,900 万元。 一、募集资金临时补充流动资金情况 公司于2025年9月17日、2025年10月9日、2025年11月11日、2025年12月9日、 2026年1月16日分批将前述用于暂时补充流动资金的5,800万元、3,600万元、500 万元、1,200万元、2,400万元归还至"金铜转债"募集资金专用账户，用于"金 铜转债"募投项目建设资金的支付，并及时将上述募集资金的归还情况告知公司 保荐机构及保荐代表人。（具体内容详见公司在上海证券交易所网站披露的相关 公告） 2026年2月6日，根据现阶段"金铜转债" ...