Core Insights - The company reported a revenue of 2.926 billion yuan for Q3 2025, representing a year-on-year increase of 12.61% [1] - The net profit attributable to shareholders was 4.8577 million yuan, showing a significant year-on-year decline of 81.68% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -10.5738 million yuan [1]

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]

证券代码：603527 证券简称：众源新材 公告编号：2025-048 安徽众源新材料股份有限公司 关于控股子公司变更注册资本并完成工商变更登记 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。 安徽众源新材料股份有限公司全资子公司安徽众源新材投资有限公司（以下 简称"众源投资"）对控股子公司哈尔滨哈船新材料科技有限公司（以下简称"哈 尔滨哈船"）进行增资，因其合并口径下净资产与注册资本相比较低，为了避免 注册资本虚高，哈尔滨哈船先实施减资，再由众源投资对其进行增资。具体情况 如下： 截至 2025 年 3 月 31 日，哈尔滨哈船及其下属子公司账面净资产值为 339.80 万元，经中水致远资产评估有限公司出具的《哈尔滨哈船新材料科技有限公司拟 进行注册资本变更涉及的其股东全部权益价值项目资产评估报告》（中水致远评 报字[2025]第 020627 号）评估，哈尔滨哈船股东全部权益价值在评估基准日 2025 年 3 月 31 日的评估值为 675.07 万元。因减资与增资涉及到国有股东的权益变动， 根据相关规定，以评估报 ...

| 主要产品 | 单位 | 生产量 | 销售量 | 库存量 | 生产量 | 销售量 | 库存量 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 比上年 | 比上年 | 比上年 | | | | | | | 同期增 | 同期增 | 同期增 | | | | | | | 减（%） | 减（%） | 减（%） | | 铜板带 | 吨 | 100,612.63 | 100,710.18 | 2,712.13 | 10.74 | 10.39 | 23.92 | | 铜箔 | 吨 | 2,760.70 | 2,778.49 | 28.50 | 9.53 | 9.04 | 65.42 | | 铝箔 | 吨 | 8,628.46 | 8,826.65 | 239.03 | 73.53 | 90.54 | -29.68 | | 其他业务（涂 料） | 吨 | 1,986.04 | 1,856.73 | 230.33 | 79.88 | 73.00 | 152.08 | | 其他业务（电 池托盘、模组 | 套 （件 | 72,152.00 | 72,75 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥2,926,362,245.01, representing a year-on-year increase of 12.61%[4] - The total profit for the quarter was ¥2,853,677.98, a significant decrease of 90.24% compared to the same period last year[4] - The net profit attributable to shareholders was ¥4,857,683.70, down 81.68% year-on-year[4] - The net profit after deducting non-recurring gains and losses was -¥10,573,826.57, reflecting a decline of 151.87%[4] - The basic earnings per share for the quarter was ¥0.02, a decrease of 75.00% compared to the previous year[5] - The company reported a net loss for the first three quarters of 2025, with total operating costs exceeding total operating revenue, leading to a negative operating margin[20] - Net profit for the first three quarters of 2025 reached CNY 98,364,651.78, an increase from CNY 89,918,751.50 in the same period of 2024, representing a growth of approximately 5.1%[21] - Operating profit for the first three quarters of 2025 was CNY 123,250,018.58, compared to CNY 104,581,510.48 in 2024, indicating an increase of about 17.8%[21] - The company reported a total profit of CNY 123,231,642.59 for the first three quarters of 2025, compared to CNY 104,630,989.28 in 2024, representing an increase of approximately 17.7%[21] - Net profit for the first three quarters of 2025 was CNY 31,174,931.01, a decrease of 55.6% from CNY 70,106,525.61 in the first three quarters of 2024[32] Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥5,029,446,984.25, an increase of 22.66% from the end of the previous year[5] - Total assets amounted to RMB 5,029,446,984.25 as of September 30, 2025, an increase from RMB 4,100,474,517.14 at the end of 2024, indicating a growth of 22.6%[17] - Total liabilities reached RMB 2,831,908,344.91 as of September 30, 2025, compared to RMB 2,049,210,933.83 at the end of 2024, marking an increase of 38.2%[16] - The total equity as of September 30, 2025, was CNY 1,608,952,825.33, slightly down from CNY 1,628,743,219.24 at the end of 2024[28] Cash Flow - The company reported a net cash flow from operating activities of -¥118,228,094.71 for the year-to-date period[5] - The net cash flow from operating activities for the first three quarters of 2025 was -81,017,809.00 RMB, compared to -341,114,735.37 RMB in the same period of 2024, showing an improvement[35] - Cash inflow from operating activities totaled 1,461,978,259.41 RMB in 2025, up from 1,196,033,458.92 RMB in 2024, representing a growth of approximately 22.1%[35] - Cash outflow from operating activities was 1,542,996,068.41 RMB in 2025, slightly higher than 1,537,148,194.29 RMB in 2024, indicating a marginal increase[35] - The company reported a total cash inflow from operating activities of 1,461,978,259.41 RMB, while cash outflow was 1,542,996,068.41 RMB, leading to a negative cash flow from operations[35] Shareholder Information - The company had a total of 23,130 common shareholders at the end of the reporting period[12] - The equity attributable to shareholders increased to ¥2,063,354,702.85, up 2.63% from the previous year[5] - The equity attributable to shareholders of the parent company was RMB 2,063,354,702.85 as of September 30, 2025, up from RMB 2,010,409,700.69 at the end of 2024, indicating a growth of 2.6%[17] Research and Development - Research and development expenses increased to RMB 74,318,297.60 in the first three quarters of 2025, compared to RMB 56,406,991.98 in the same period of 2024, reflecting a growth of 31.8%[20] - Research and development expenses for the first three quarters of 2025 were CNY 37,900,684.40, up from CNY 31,982,972.41 in the same period of 2024, reflecting a growth of 18.5%[31] Financing Activities - The total cash inflow from financing activities for the first three quarters of 2025 was CNY 1,605,977,300.71, compared to CNY 1,113,665,884.85 in 2024, indicating a growth of approximately 44.2%[25] - Cash inflow from financing activities increased to 737,500,000.00 RMB in 2025 from 447,000,000.00 RMB in 2024, marking a rise of approximately 65%[35] - The net cash flow from financing activities was 265,500,449.61 RMB in 2025, slightly up from 261,570,912.87 RMB in 2024[35] Investment Income - The company achieved investment income of CNY 1,481,364.78, a substantial increase from CNY 119,124.49 in the previous year[21] - The company experienced a decrease in investment income, reporting a loss of CNY 1,140,355.34 in the first three quarters of 2025, compared to a loss of CNY 907,433.10 in the same period of 2024[31]

Group 1 - The core viewpoint of the article highlights the growth in China's copper material production, with a reported output of 2.08 million tons in April 2025, representing an 8.4% year-on-year increase [1] - Cumulative copper material production from January to April 2025 reached 7.492 million tons, showing a cumulative growth of 5.2% [1] Group 2 - Listed companies in the copper industry include Yunnan Copper (000878), Bowei Alloys (601137), Baiyin Nonferrous Metals (601212), Jintian Copper (601609), and Zhongyuan New Materials (603527) [1] - The report referenced is the "2026-2032 China Copper Material Industry Market Survey and Investment Strategy Research Report" published by Zhiyan Consulting [1]

证券代码：603527 证券简称：众源新材 公告编号：2025-046 安徽众源新材料股份有限公司 关于 2025 年 9 月提供担保的进展公告 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。 （一） 担保的基本情况 公司、公司全资子公司和控股子公司因经营和发展需要，向银行申请了需提 供担保的综合授信额度，并由公司、公司全资子公司和公司控股子公司为上述授 信提供担保，担保方式为连带责任保证担保，上述担保不存在反担保。相关担保 情况如下： | 序 | | | | | 担保金额 | | --- | --- | --- | --- | --- | --- | | 号 | 协议 | 担保方 | 被担保方 | 银行 | （单位： 万元） | | | | | | 中国建设银行股份有 | | | 1 | 《本金最高额 | | 永杰铜业 | 限公司芜湖经济技术 | 5,000.00 | | | 保证合同》 | | | 开发区支行（以下简 | | | | | | | 称"建设银行"） | | | | | | | 芜湖扬子农村商业银 | | | ...

Group 1 - The A-share market has seen a strong performance in the non-ferrous metal sector, with stocks such as Bojian New Materials and Vanadium Titanium Co. hitting the 10% daily limit up, while others like Shengda Resources and Yinhai Magnetic Materials rose over 6% [1] - The Ministry of Industry and Information Technology, along with eight other departments, has issued a "Work Plan for Stable Growth in the Non-Ferrous Metal Industry," which includes implementing a new round of mineral exploration strategies and enhancing resource surveys for copper, aluminum, lithium, nickel, cobalt, and tin [1] - The plan aims for an average annual growth of about 5% in the value added of the non-ferrous metal industry from 2025 to 2026 [1] Group 2 - Specific stock performances include: - Bojian New Materials (code: 605376) with a market cap of 15.6 billion and a year-to-date increase of 106.32% [2] - Vanadium Titanium Co. (code: 000629) with a market cap of 28.6 billion and a year-to-date increase of 6.94% [2] - Shengda Resources (code: 000603) with a market cap of 17.2 billion and a year-to-date increase of 108.85% [2] - Yinhai Magnetic Materials (code: 300127) with a market cap of 11.1 billion and a year-to-date increase of 41.62% [2] - Other notable performers include: - Ganfeng Lithium (code: 002460) with a market cap of 116.7 billion and a year-to-date increase of 62.73% [2] - China Aluminum (code: 601600) with a market cap of 134.7 billion and a year-to-date increase of 8.68% [2]

https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 26 日(星期五) 至 10 月 10 日(星期五)16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 ahzyxcl@126.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 证券代码：603527 证券简称：众源新材 公告编号：2025-045 安徽众源新材料股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 10 月 13 日(星期一)下午 16:00-17:00 会议召开地点：上海证券交易所上证路演中心（网址： 安徽众源新材料股份有限公司（以下简称"公司"）已于 2025 年 8 月 27 日 发布公司 2025 年半年度报告，为便于广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状况，公司计划于 2025 年 10 月 13 日 ...

Group 1 - The core viewpoint of the news is that the copper sector in the A-share market experienced a significant rise, driven by supply disruptions at Freeport's Grasberg mine, which is expected to impact global copper supply and prices positively [1][2] - Freeport announced that the Grasberg mine supply is facing force majeure, leading to a substantial increase in copper prices, marking the largest rise in over five months [1] - Citigroup analysts noted that Grasberg accounts for approximately 3% of global copper supply, with total losses in Q4 expected to affect global supply by 3%, and a projected 35% loss by 2026 impacting about 1% of global supply, which will support copper prices [1] Group 2 - The A-share copper concept stocks opened high, with notable gains: Electric Alloy surged over 12%, Jingyi Co. reached a 10% limit up, Jiangxi Copper increased over 8%, and Tongling Nonferrous Metals rose over 6% [1][2] - Specific stock performances include: - Electric Alloy: +12.69%, market cap of 8.22 billion - Jingyi Co.: +10.02%, market cap of 3.38 billion - Jiangxi Copper: +8.24%, market cap of 106.9 billion - Tongling Nonferrous Metals: +6.73%, market cap of 61.6 billion - Yunnan Copper: +5.87%, market cap of 32.2 billion - Shengtu Mining: +4.57%, market cap of 26.9 billion - Baiyin Nonferrous: +3.46%, market cap of 28.8 billion - Zhongyuan New Materials: +3.40%, market cap of 3.569 billion [2]