Core Viewpoint - The company, Zhongjin Lingnan, emphasizes that its bond financing activities are neutral market-oriented arrangements, and the impact on stock prices should be assessed in conjunction with the type of bonds, the purpose of the funds, and the company's operational realities [1] Group 1: Bond Financing - The recent issuance of technology innovation bonds, ultra-short-term financing bonds, and previous convertible bonds are aimed at meeting the financing needs aligned with business development [1] - The funds raised through bond financing are directed towards real projects or optimizing the financial structure, supporting core business expansions such as mineral resource development and technological upgrades [1] Group 2: Long-term Impact - Long-term, the bond financing is expected to lower financing costs and enhance operational stability, providing fundamental support for the company's performance growth and stock price stability [1]

Core Viewpoint - The company emphasizes its recent refinancing arrangements and domestic and international project layouts aimed at optimizing resource allocation, improving the industrial chain, and enhancing future competitiveness [1] Group 1 - The company has ongoing projects that are in the construction or capacity ramp-up stages, which contribute to profits in a cyclical and phased manner [1] - As related work progresses, it will help solidify the company's business foundation and improve its operational system, supporting long-term development [1] - The company will continue to enhance operational efficiency and steadily advance key project construction and production capacity [1] Group 2 - The company commits to disclosing relevant progress in its regular reports as per regulations [1] - The company encourages stakeholders to maintain interest in its long-term development [1]

Core Viewpoint - The company, Zhongjin Lingnan, has successfully entered the high-end new materials sector in China through a dual strategy of internal innovation and external mergers and acquisitions [1] Group 1: Company Strategy - The company emphasizes its focus on advanced materials in the non-ferrous metal sector through its subsidiary, Zhongjin Technology, which is the core of its new materials segment [1] - Zhongjin Technology specializes in high-performance powder materials, thermal bimetals, and energy storage materials, holding national-level "specialized and innovative" small giant qualifications and multiple invention patents [1] Group 2: Recent Developments - In 2023, the company acquired Foshan Precision, a leading domestic thermal bimetal enterprise, to quickly enter the high-end composite metal materials market [1] - In 2024, the company plans to further extend its copper deep processing chain by acquiring a controlling stake in Shandong Zhongjin New Materials Technology Co., Ltd [1] Group 3: Future Outlook - The company aims to continuously strengthen the collaborative advantages of the new materials industry chain and accelerate the cultivation of new productive forces to create long-term value for shareholders [1]

Core Viewpoint - The company, Zhongjin Lingnan, announced on November 21 that it currently has no lithium mine resources, while providing details on its metal resource reserves as of the end of 2024 [1] Resource Summary - The company has the following metal resource reserves: - Zinc: 7.13 million tons [1] - Lead: 3.66 million tons [1] - Copper: 143,000 tons [1] - Silver: 6,607 tons [1] - Gold: 90 tons [1] - Nickel: 92,400 tons [1] - Gallium: 717 tons [1] - Germanium: 240 tons [1] - Tungsten: 16,500 tons [1]

Core Viewpoint - The company, Zhongjin Lingnan, is accelerating its strategic transformation towards the comprehensive recycling of rare metals and high-value materials, leveraging its strong foundation in traditional metals like copper, lead, and zinc [1] Group 1: Strategic Transformation - The company is positioned as a key player in the domestic non-ferrous metal industry, focusing on a strategic shift towards rare metal recycling and high-value materials [1] - The company aims to integrate its rare metal business into its overall value enhancement strategy across the entire industry chain [1] Group 2: Business Expansion - The company is expanding its recycling categories horizontally, moving from traditional lead, zinc, and copper by-products to include scarce varieties such as gallium, germanium, gold, silver, platinum, palladium, indium, and tellurium [1] - The company is vertically extending product value by developing high-end new material products that cater to downstream demands in sectors like semiconductors and new energy [1]

证券日报网讯 中金岭南11月21日发布公告，在公司回答调研者提问时表示，公司管理层一直关注并做 好经营各项工作，提高公司盈利能力，实现公司稳定健康快速地发展。公司坚定实施创新驱动发展战 略，围绕企业生产实际，坚持问题导向、目标导向，面向生产经营主战场，面向节能低碳技术研发，聚 焦铅锌铜银镓锗等有价金属综合回收、新材料研发等领域，大力推进关键核心技术攻坚，推动创新链产 业链深度融合，厚植高质量发展新优势。 （编辑 袁冠琳） ...

Market Overview - On November 21, the futures concept sector declined by 3.56% compared to the previous trading day, with Zhongjin Lingnan leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Individual Stock Performance - Meihu Co., Ltd. (603319) closed at 36.49, up 1.50% with a trading volume of 197,900 shares and a turnover of 714 million yuan [1] - Zhongjin Lingnan (000060) closed at 5.05, down 6.31% with a trading volume of 2,212,600 shares and a turnover of 1.137 billion yuan [2] - Other notable declines include Red Tower Securities (601236) down 2.08% and Xiamen Guomao (600755) down 2.24% [1][2] Capital Flow Analysis - The futures concept sector experienced a net outflow of 2.217 billion yuan from main funds, while retail funds saw a net inflow of 1.534 billion yuan [2] - The main funds' net inflow and outflow for individual stocks show varied trends, with Zhongjin Lingnan experiencing a net outflow of 23.8559 million yuan from main funds [3] Summary of Trading Data - The trading data for the futures concept sector indicates significant fluctuations, with various stocks showing both gains and losses in their closing prices and trading volumes [1][2] - The overall sentiment in the market appears bearish, as indicated by the declines across multiple stocks in the futures sector [1][2]

Core Viewpoint - The company Zhongjin Lingnan announced its main products, which include lead ingots, zinc ingots, zinc alloys, cathode copper, silver, gold, crude copper, gallium, germanium concentrate, industrial sulfuric acid, and sulfur [1] Product Overview - Lead metal is primarily used in lead-acid batteries, lead materials, and lead alloys, with additional applications in lead oxide, lead salts, and cables [1] - Zinc metal is mainly utilized in galvanizing, die-casting alloys, zinc oxide, brass, and batteries [1]

Core Viewpoint - The company is actively implementing its "Climbing Plan 2.0" to address challenges in the supply of lead, zinc, and copper concentrates, as well as declining processing fees for smelting enterprises, by initiating cost reduction and efficiency enhancement measures [1] Financial Performance - In the first half of the year, the company achieved operating revenue of 31.089 billion yuan, a year-on-year increase of 1.54% [1] - The net profit attributable to shareholders of the parent company was 559 million yuan, reflecting a year-on-year growth of 3.12% [1] - For the first three quarters of 2025, the company reported operating revenue of 48.459 billion yuan, up 11.79% year-on-year [1] - The net profit attributable to shareholders of the listed company reached 841 million yuan, marking a year-on-year increase of 5.18% [1] Strategic Initiatives - The company has launched a special action plan focused on cost reduction and efficiency enhancement, outlining over 20 key measures across six dimensions: increasing volume and efficiency, improving quality and efficiency, reducing costs and increasing efficiency, innovating for efficiency, collaborating for efficiency, and ensuring safety while reducing costs [1]

Core Viewpoint - The company reported a significant increase in operating cash inflow and net cash flow, driven by stable business development and improved operational management [1] Group 1: Business Performance - The main business of the company is performing steadily, with an improvement in the non-ferrous metal industry, leading to increased sales volume and collection efficiency [1] - Cash received from sales of goods and services has significantly increased [1] Group 2: Operational Management - The company has continuously optimized its operational management, enhancing accounts receivable control and detailed cost management [1] - Reasonable control of cash outflow has further improved net cash flow [1] Group 3: Market Considerations - Cash flow performance may be influenced by external factors such as industry cycles, market demand, and macroeconomic environment, indicating a degree of uncertainty [1] - The company will continue to focus on its main business operations and will announce significant developments in accordance with information disclosure requirements [1]