| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2025-102 | | --- | --- | --- | | 债券代码：127020 | 债券简称：中金转债 | | 深圳市中金岭南有色金属股份有限公司 关于提前赎回中金转债的第三次 提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示: 1."中金转债"赎回价格：100.70 元/张（含当期应计 利息，当期年利率为 2.00%，且当期利息含税），扣税后的赎 回价格以中国证券登记结算有限责任公司深圳分公司（以下 简称"中国结算"）核准的价格为准。 2."中金转债"赎回条件满足日：2025 年 10 月 30 日 3."中金转债"赎回登记日：2025 年 11 月 25 日 4."中金转债"赎回日：2025 年 11 月 26 日 5."中金转债"停止交易日：2025 年 11 月 21 日 6."中金转债"停止转股日：2025 年 11 月 26 日 7.发行人（公司）资金到账日：2025 年 12 月 1 日 8.投资者赎回款到账日：2025 年 12 月 3 日 9. ...

深圳市中金岭南有色金属股份有限公司（以下简称"公 司"）近日根据中国证券登记结算有限责任公司提供的股本 结构表，获悉控股股东广东省广晟控股集团有限公司（以下 简称"广晟控股"）持有公司股份比例被动稀释，具体情况 如下： 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 因公司可转债转股而公司总股本增加，持股比例被动稀 释 根据公司可转换公司债券转股结果，截至 2025 年 11 月 3 日，中金转债（债券代码：127020）累计转为公司 A 股普通 股 547,648,797 股。其中，2025 年 10 月 29 日至 11 月 3 日， 中 金 转 债 合 计 转 股 155,168,830 股 ， 公 司 总 股 本 从 3,962,165,294 股增至 4,117,334,124 股。广晟控股持股数 未发生变动，为 1,304,407,036 股，广东省广晟矿业集团有 限公司（以下简称"广晟矿业"）持股数未发生变动，为 | 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2025-103 | | --- | --- | --- | | 债 ...

Group 1 - The metal zinc sector experienced a decline of 2.52%, ranking among the top losers in the concept sector, with major declines from companies like Guocheng Mining and Xingye Silver Tin [1] - The top gainers in the sector included Zhejiang Fuhua Holdings, CITIC Metal, and Pengxin Resources, with increases of 3.10%, 2.32%, and 1.54% respectively [1] - The concept sector saw a net outflow of 2.635 billion yuan, with 32 stocks experiencing net outflows, and 10 stocks seeing outflows exceeding 100 million yuan [1] Group 2 - The largest net outflow was from Zijin Mining, with a net outflow of 459 million yuan, followed by Xingye Silver Tin and Baiyin Nonferrous Metals with outflows of 455 million yuan and 169 million yuan respectively [1] - The stocks with the highest net inflows included CITIC Metal, Zhongjin Lingnan, and Zinc Industry, with net inflows of 44.82 million yuan, 17.11 million yuan, and 11.20 million yuan respectively [2] - The trading volume for the top outflowing stocks showed significant declines, with Guocheng Mining dropping by 10.01% and Xingye Silver Tin by 6.70% [2]

Core Viewpoint - The company has announced the early redemption of its convertible bonds, "中金转债," with specific terms and conditions outlined for investors [3][8][10]. Group 1: Redemption Details - The redemption price for "中金转债" is set at 100.70 CNY per bond, including accrued interest at a current annual rate of 2.00% [2][10][11]. - The redemption conditions are met as of October 30, 2025, and the bonds will be fully redeemed on November 26, 2025 [3][8][10]. - The last trading day for "中金转债" is November 21, 2025, after which the bonds will stop trading and converting [2][15][17]. Group 2: Issuance Overview - "中金转债" was issued on July 20, 2020, with a total of 38 million bonds at a face value of 100 CNY each, amounting to a total issuance of 3.8 billion CNY [4][5]. - The bonds have a maturity of six years and a tiered interest rate structure, starting from 0.20% in the first year to 2.00% in the sixth year [4][5]. Group 3: Conversion and Pricing Adjustments - The initial conversion price was set at 4.71 CNY per share, with adjustments made over time due to annual equity distributions, the latest being 4.29 CNY per share [5][6]. - The conditional redemption clause allows the company to redeem the bonds if the stock price exceeds 130% of the conversion price for a specified period [6][8]. Group 4: Redemption Process - The redemption process includes a series of announcements leading up to the redemption date, ensuring that all bondholders are informed [14][17]. - The funds from the redemption will be credited to the bondholders' accounts by December 3, 2025 [17].

Core Insights - The opening ceremony for the "Resource Integration Phase I" of the Fankou Lead-Zinc Mine was held, showcasing the company's proprietary drilling tools designed for hard rock mining [1] - The company has developed a new series of drilling tools that have shown significant performance advantages over competitors, marking a shift from internal use to market expansion [1][2] - The company aims to capture a market space worth nearly 10 billion yuan for its advanced drilling tools [3] Company Developments - The company established a subsidiary, Fankou Gold Drill Tools Co., to focus on external market development for its drilling products [1] - The new drilling tools utilize high-entropy ultra-coarse hard alloy and gradient alloy steel technology, achieving breakthroughs in material innovation and production processes [2] - The company plans to achieve an annual production capacity of 100,000 cutting teeth and 30,000 ball teeth by 2025-2027, with customized services to strengthen its market position [3] Product Performance - The new drilling tools have demonstrated a reduction in tooth wear to below 0.1 pieces per cubic meter, doubling the lifespan compared to previous products [2] - The cost of excavation has been reduced by over 50%, showcasing the economic advantages of the new technology [2] - Several benchmark mines in China have begun using the company's products, achieving significant improvements in mining efficiency and cost-effectiveness [2][3]

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2025-101 | | --- | --- | --- | | 债券代码：127020 | 债券简称：中金转债 | | 深圳市中金岭南有色金属股份有限公司 关于提前赎回中金转债的第二次 提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示: 1."中金转债"赎回价格：100.70 元/张（含当期应计 利息，当期年利率为 2.00%，且当期利息含税），扣税后的赎 回价格以中国证券登记结算有限责任公司深圳分公司（以下 简称"中国结算"）核准的价格为准。 2."中金转债"赎回条件满足日：2025 年 10 月 30 日 3."中金转债"赎回登记日：2025 年 11 月 25 日 1 的"中金转债"将被强制赎回，特提醒"中金转债"持有人 注意在限期内转股。本次赎回完成后，"中金转债"将在深 圳证券交易所摘牌。"中金转债"持有人持有的"中金转债" 存在被质押或被冻结的，建议在停止交易日前解除质押或冻 结，以免出现因无法转股而被强制赎回的情形。 5."中金转债"停止交易日：2025 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The company reported a revenue of 48.459 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 11.79%. The net profit attributable to the parent company was 841 million yuan, up 5.18% year-on-year. In Q3 alone, the revenue was 17.370 billion yuan, an increase of 18.65% year-on-year, with a net profit of 282 million yuan, up 9.51% year-on-year [4] - The prices of copper, lead, and zinc in Q3 2025 were 79,900 yuan/ton, 16,900 yuan/ton, and 22,300 yuan/ton, reflecting year-on-year changes of +6%, -7%, and -5% respectively. The production of refined lead and zinc metals in H1 2025 was 125,400 tons, down 10.11% year-on-year, while the smelting output of copper, lead, and zinc was 447,800 tons, up 5.61% year-on-year. The increase in revenue is primarily attributed to the smelting segment, with copper smelting revenue reaching 20.421 billion yuan, a year-on-year increase of 31.33% [5] - The company is accelerating resource accumulation and production at its mining operations, including the large-scale Fankou lead-zinc-silver mine in Asia and several other lead-zinc mines in Guangxi, Australia, and the Dominican Republic. The focus on high-end processing in the smelting segment is expected to enhance product value and optimize profitability [6] Financial Forecast - The company is projected to achieve net profits attributable to the parent company of 1.152 billion yuan, 1.274 billion yuan, and 1.341 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 19, 17, and 16 [7] - Key financial indicators for 2025E include revenue of 62.445 billion yuan, a year-on-year growth of 4.3%, and a net profit of 1.152 billion yuan, reflecting a growth of 6.5% year-on-year [9]

Core Points - The company has decided to exercise the early redemption of its convertible bonds, "中金转债," due to meeting the conditional redemption criteria as outlined in the bond's prospectus [11][6] - The redemption price is set at 100.70 CNY per bond, which includes accrued interest at a current annual interest rate of 2.00% [6][14] - The redemption process will take place on November 26, 2025, with the last trading day for the bonds being November 21, 2025 [19][6] Meeting Decisions - The board of directors approved the proposal to waive the notice period for the meeting and to hold the meeting via communication on October 30, 2025 [2][1] - The board unanimously voted in favor of the early redemption of "中金转债" with all 8 votes in favor and none against [3][4] Redemption Details - The redemption conditions were triggered as the company's stock price met the required threshold for at least 15 out of 30 trading days prior to the redemption date [11][9] - The redemption registration date is set for November 25, 2025, and the funds will be credited to bondholders' accounts by December 3, 2025 [19][6] Bond Issuance Overview - "中金转债" was issued on July 20, 2020, with a total of 38 million bonds at a face value of 100 CNY each, amounting to a total issuance of 3.8 billion CNY [8][9] - The bond has a maturity of 6 years and a tiered interest rate structure, culminating in a 2.00% rate in the final year [8][9] Conversion and Trading Information - The bond can be converted into shares at a current conversion price of 4.29 CNY per share, which has been adjusted multiple times since issuance [9][11] - The last trading day for "中金转债" will be November 21, 2025, after which it will be delisted from the Shenzhen Stock Exchange [19][6]

Core Viewpoint - Zhongjin Lingnan is a leading enterprise in the domestic lead-zinc industry, engaged in a full industrial chain of non-ferrous metal business, with a focus on mining, smelting, and trading [1] Group 1: Business Performance - In Q3 2025, Zhongjin Lingnan achieved an operating revenue of 48.459 billion yuan, ranking first among 14 companies in the industry, significantly higher than the second-ranked Yuguang Gold Lead at 34.855 billion yuan and the industry average of 10.756 billion yuan [2] - The net profit for the same period was 0.891 billion yuan, ranking third in the industry, behind Xingye Yinxin at 1.354 billion yuan and Chihong Zinc & Germanium at 1.309 billion yuan, exceeding the industry average of 0.573 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, the asset-liability ratio of Zhongjin Lingnan was 65.43%, higher than the previous year's 61.78% and above the industry average of 50.54% [3] - The gross profit margin for the same period was 5.45%, down from 5.89% year-on-year and significantly lower than the industry average of 25.75% [3] Group 3: Executive Compensation - The chairman, Yu Hong, received a salary of 1.8364 million yuan in 2024, an increase of 1.2719 million yuan from 2023 [4] - The president, Pan Wenhao, had a salary of 2.6412 million yuan in 2024, a decrease of 0.1092 million yuan from 2023 [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.94% to 126,400, while the average number of circulating A-shares held per account increased by 0.95% to 29,600 [5] - Among the top ten circulating shareholders, the Southern CSI 500 ETF held 38.0752 million shares, a decrease of 0.7006 million shares from the previous period [5] Group 5: Production and Future Outlook - In H1 2025, Zhongjin Lingnan reported total revenue of 31.113 billion yuan, a year-on-year increase of 1.54%, and a net profit of 0.559 billion yuan, up 3.12% year-on-year [6] - The company is actively expanding resources, with a new acquisition of the Tianfang lead-zinc-copper polymetallic mine expected to become a new profit growth point [6] - The earnings per share (EPS) forecast for 2025-2027 is projected at 0.31, 0.34, and 0.34 yuan, respectively, with a target price of 5.92 yuan based on a 19.1X PE ratio for 2025 [6]

Group 1 - The core point of the announcement is that China Jinlingnan will forcibly redeem the "China Jin Convertible Bonds" if they are not converted by the close of trading on November 25, 2025, and the bonds will be delisted from the Shenzhen Stock Exchange after the redemption [1] - Bondholders are advised to release any pledges or freezes on their "China Jin Convertible Bonds" before the trading suspension date to avoid being forcibly redeemed due to inability to convert [1]