Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported Q3 results that met expectations, with stable growth in mining output. For the first three quarters of 2024, the company achieved revenue of 457.23 billion yuan, a year-on-year decrease of 13.48%, and a net profit attributable to shareholders of 7.99 billion yuan, an increase of 11.66% year-on-year. In Q3 alone, revenue was 150.82 billion yuan, down 3.45% year-on-year but up 19.53% quarter-on-quarter, with a net profit of 2.58 billion yuan, up 46.62% year-on-year but down 14.89% quarter-on-quarter [2][3] Summary by Relevant Sections Financial Performance - The company’s revenue for 2023 is projected at 65.647 billion yuan, with a year-on-year growth of 18.4%. However, for 2024, revenue is expected to decline by 3.8% to 63.128 billion yuan. The net profit attributable to shareholders is forecasted to be 688 million yuan in 2023, increasing to 920 million yuan in 2024, reflecting a year-on-year growth of 33.7% [4][5] Production and Resource Growth - The company has maintained a steady increase in mining production, with metal resources at the end of H1 2024 totaling 6.64 million tons of zinc, 3.08 million tons of lead, and 1.02 million tons of copper. The company continues to explore and increase reserves, with significant additions from various mining projects [3][4] Future Profitability Projections - The company’s projected net profits for 2024, 2025, and 2026 are 9.2 billion yuan, 10.9 billion yuan, and 12.3 billion yuan respectively, with corresponding price-to-earnings ratios of 19.7, 16.6, and 14.7 [3][4]

Investment Rating - The report maintains a "Buy" rating for the company [3]. Core Views - The company reported a revenue of 45.688 billion yuan for the first three quarters of 2024, a year-on-year decrease of 13.49%, while the net profit attributable to shareholders was 799 million yuan, an increase of 11.66% year-on-year [2]. - The increase in lead and zinc prices contributed to a 20% quarter-on-quarter revenue growth in Q3 2024, with the average zinc price at 25,300 yuan/ton and lead at 16,500 yuan/ton [2]. - The company secured exploration rights for a multi-metal mine in Guangdong, enhancing its resource reserves and ensuring supply for lead, zinc, and copper [2]. - Ongoing expansion projects in lead-zinc and copper mining are expected to increase production capacity, with significant investments planned [2]. - The company is focusing on strengthening its new materials processing segment and rare metal recycling, which is anticipated to contribute to new growth points [2]. Summary by Sections Financial Performance - For Q3 2024, the company achieved a net profit of 258 million yuan, a quarter-on-quarter decrease of 14.89% but a year-on-year increase of 46.62% [2]. - The gross profit margin for Q3 2024 was 6.39%, showing a year-on-year increase of 0.77 percentage points [2]. Revenue and Profit Forecast - The projected revenues for 2024, 2025, and 2026 are 70.704 billion yuan, 74.729 billion yuan, and 74.729 billion yuan respectively, with net profits expected to be 1.031 billion yuan, 1.198 billion yuan, and 1.203 billion yuan [3][5]. - The earnings per share (EPS) are forecasted to be 0.276 yuan for 2024, 0.320 yuan for 2025, and 0.322 yuan for 2026 [3][5]. Market Position and Strategy - The company is actively enhancing its upstream resource capabilities through exploration and expansion projects, which are expected to provide a buffer against market fluctuations [2]. - The acquisition of a precision manufacturing company is part of the strategy to develop the new materials processing sector, focusing on rare metal recovery [2].

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-100 | | --- | --- | --- | | 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 关于修订《监事会议事规则》的公告 本公司及监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。 2024 年 10 月 25 日，公司第九届监事会第二十二次会议 审议通过《关于修订<监事会议事规则>的议案》。 根据《中华人民共和国公司法（2023 年修订）》、《中华 人民共和国证券法（2019 年修订）》、《上市公司章程指引（2022 年修订）》《深圳证券交易所股票上市规则（2024 年修订）》、 《深圳证券交易所上市公司自律监管指引第 1 号——主板上 市公司规范运作》等有关规定，结合公司实际情况，现对《深 圳市中金岭南有色金属股份有限公司监事会议事规则》进行 修订，修订内容如下： | 条款 | 修订前 | 修订后 | | --- | --- | --- | | 第 | 三 公司依法设立监事会，监事会应 | 公司依法设立监事会，监事会由 3 名监 | ...

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-098 | | --- | --- | --- | | 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 关于为全资子公司提供担保的公告 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。 一、担保情况概述 2024 年 10 月 25 日，公司第九届董事会第三十四次会议 审议通过《关于申请担保的议案》。 同意公司为全资子公司澳大利亚佩利雅公司（以下简称 "佩利雅公司"）向中国工商银行申请合计总额 5,000 万美元 成立日期：1987 年 注册地点：Level 8，251 Adelaide Terrace，Perth WA6000 注册资本：澳元 31,151 万元 （或等值人民币）的一年期借款提供全额连带保证担保，佩 利雅公司为该笔借款向公司提供反担保。 此次担保金额未超过公司最近一期经审计的净资产的 10%，被担保方资产负债率未超过 70%，公司累计担保金额 未超过公司最近一期经审计的净资产的 50%，此次担保不构 成关联交易，无须提交股东大 ...

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-096 | | --- | --- | --- | | 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 第九届董事会第三十四次会议决议公告 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。 深圳市中金岭南有色金属股份有限公司第九届董事会第 三十四次会议于 2024 年 10 月 25 日以通讯方式召开，会议通 知于 2024 年 10 月 21 日送达全体董事。会议由董事长喻鸿主 持，应到董事 8 名，实到董事 8 名，达法定人数。公司监事 列席了会议，会议符合《公司法》和《公司章程》、《董事会 议事规则》的有关规定。 会议审议通过如下决议： 一、审议通过《2024 年三季度总裁工作报告》； 表决结果：同意 8 票，反对 0 票，弃权 0 票 二、审议通过《2024 年前三季度财务分析报告》（附 2024 年三季度财务报告）； 表决结果：同意 8 票，反对 0 票，弃权 0 票 三、审议通过《2024 年前三季度非经营性资金占用及其 他关联资金 ...

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-099 | | --- | --- | --- | | 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 2024年前三季度非经营性资金占用及 其他关联资金往来情况的公告 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。 按照中国证券监督管理委员会印发的《上市公司监管指引第 8 号——上市公司资金往来、对外担保的监管要求》的规定，现将公 司 2024 年前三季度非经营性资金占用及其他关联资金往来情况报 告如下： | 企 业 名 称 | 与本公司的关系 | | --- | --- | | 广东省广晟控股集团有限公司 | 本公司控股股东 | | 广东广晟稀有金属光电新材料有限公司 | 控股股东之间接控制子公司 | | 广东省广晟韶关投资发展有限公司 | 控股股东之间接控制子公司 | | 南储仓储管理集团有限公司 | 控股股东之间接控股子公司 | | 深圳广晟幕墙科技有限公司 | 控股股东之间接控股子公司 | 一、控股股东及其关联方概况 1 | 关联方 ...

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-097 | | --- | --- | --- | | 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 第九届监事会第二十二次会议决议公告 本公司及监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。 深圳市中金岭南有色金属股份有限公司第九届监事会 第二十二次会议于 2024 年 10 月 25 日以通讯方式召开。会 议通知已于 2024 年 10 月 21 日送达全体监事。会议由监事会 主席郎伟晨先生主持，应到监事 3 名，实到监事 3 名，达法 定人数。会议符合《公司法》和《公司章程》、《监事会议事 规则》的有关规定。 此议案尚须提请公司股东大会审议通过。 表决结果：同意 3 票，反对 0 票，弃权 0 票 二、审议通过《2024 年前三季度财务分析报告》（附 2024 年三季度财务报告）； 表决结果：同意 3 票，反对 0 票，弃权 0 票 三、审议通过《2024 年前三季度非经营性资金占用及其 他关联资金往来情况的报告》； 1 报告期，公司与关联方 ...

Revenue and Profit - Revenue for Q3 2024 was CNY 15,069,918,769.33, a decrease of 3.41% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 257,543,743.09, an increase of 46.62% year-on-year[3] - Net profit excluding non-recurring items reached CNY 254,540,648.83, up 58.55% from the previous year[3] - Total operating revenue for the third quarter was CNY 45.72 billion, a decrease of 13.3% compared to CNY 52.85 billion in the same period last year[18] - Net profit attributable to the parent company was CNY 1.21 billion, down from CNY 1.45 billion year-on-year, reflecting a decline of 16.55%[18] - The net profit for Q3 2024 was CNY 986,031,038, a slight increase from CNY 985,444,864 in Q3 2023, representing a growth of 0.06%[19] - The total profit for the period was CNY 1,210,741,639.33, slightly up from CNY 1,200,563,711.41 in the same quarter last year, reflecting a growth of 0.1%[19] Cash Flow and Assets - Cash flow from operating activities for the year-to-date increased significantly by 597.46% to CNY 902,114,196.99[3] - The cash flow from operating activities was CNY 42,113,175,193.64, down from CNY 46,455,104,936.25 in the previous year, a decrease of 9.5%[20] - The cash flow from investing activities showed a net outflow of CNY 1,192,186,961.58, compared to a larger outflow of CNY 4,127,137,564.55 in the previous year[21] - The cash flow from financing activities generated a net inflow of CNY 859,353,593.84, significantly lower than CNY 5,849,101,180.75 in Q3 2023[21] - Total assets at the end of the reporting period were CNY 45,153,638,422.19, reflecting a 4.95% increase from the end of the previous year[3] - The company's total current assets increased to ¥17,900,124,076.65 from ¥15,912,757,157.26, reflecting a growth of approximately 12.5%[15] - Cash and cash equivalents rose to ¥3,924,883,729.67 from ¥3,613,564,017.21, indicating an increase of about 8.6%[15] - The company's cash and cash equivalents were reported at CNY 3.5 billion, a decrease from CNY 4.2 billion, indicating a decline of 16.67%[18] - The cash and cash equivalents at the end of the period totaled CNY 3,377,176,186.19, down from CNY 4,754,607,526.68 at the end of Q3 2023, a decrease of 29.0%[21] Shareholder Information - The total number of common shareholders at the end of the reporting period is 132,866, with the largest shareholder, Guangdong Guangsheng Holding Group Co., Ltd., holding 34.90% of shares, equating to 1,304,407,036 shares[9] - The second largest shareholder, China Copper Investment Co., Ltd., holds 2.19% of shares, amounting to 81,743,419 shares[10] - The top ten shareholders collectively hold significant stakes, with the total shares held by the top ten shareholders being 1,516,000,000, representing a substantial portion of the company's equity[10] - The company’s major shareholders include state-owned entities, indicating a strong government influence in its ownership structure[10] - The company has not reported any changes in the status of pledged or frozen shares among its major shareholders[9] Investments and Acquisitions - The company has participated in the bankruptcy reorganization of 20 companies, including Dongying Fangyuan Nonferrous Metals Co., Ltd., as approved by the board and shareholders[12] - The company has invested a total of 18.9 billion RMB in the reorganization, holding a 63.00% equity stake in the restructured entity, Jinjin Rongsheng[12] - The company plans to collaborate with three financial investors, contributing a total of 30 billion RMB to the reorganization efforts[12] - The company has completed the asset delivery process for the restructured enterprises and is now managing their production operations[12] - The company has also engaged in debt collection and equity acquisition activities, with a total investment not exceeding 19.4 billion RMB[12] - The company agreed to acquire all overseas convertible bond debts for a minimum payment of ¥504,440,664.09, potentially increasing its equity stake in Shandong Zhongjin Lingnan Copper Industry Co., Ltd. from 39.2574% to 49.9702%[13][14] - The company completed the restructuring plan as confirmed by the Dongying Intermediate People's Court on May 16, 2024, concluding the restructuring process for 20 companies[14] - The company acquired 75% equity in Foshan Tongbao Precision Alloy Co., Ltd. for ¥25,485 million, enhancing its new materials processing segment[14][15] - The company has completed the payment of equity transfer amounts totaling ¥7,327.79 million for the remaining 25% equity in Foshan Precision, resulting in a total ownership of 96.565%[15] Liabilities and Expenses - Total liabilities rose to CNY 27.89 billion, compared to CNY 25.91 billion, marking an increase of 7.66%[17] - The total non-current liabilities decreased to CNY 15.66 billion from CNY 15.32 billion, a decrease of 9.3%[17] - The company reported a decrease in short-term loans to CNY 5.88 billion from CNY 6.40 billion, a reduction of 8.1%[18] - Research and development expenses for the period were CNY 335.83 million, up from CNY 302.25 million, indicating an increase of 11.1%[18] - The company experienced a 62.21% decrease in interest expenses compared to the same period last year[7] Equity and Returns - The company's weighted average return on equity rose to 5.87%, an increase of 0.70 percentage points year-on-year[3] - The total equity attributable to shareholders increased to CNY 13.88 billion, compared to CNY 13.32 billion, reflecting a growth of 4.1%[17]

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-094 | | --- | --- | --- | | 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 关于参加广东省广晟控股集团有限公司 控股上市公司2024年投资者集体交流会 的公告 （ 四 ） 网 络 地 址 ： " 全 景 • 路 演 天 下 " 网 站 （https://rs.p5w.net/html/144988.shtml） 二、参加人员 参加本次集体交流会的人员：董事长喻鸿先生，董事会 秘书黄建民先生。 三、投资者参加方式 "集体交流会"），旨在加强与投资者沟通，推进上市公司 高质量发展。公司将参加本次集体交流会，现将有关事项公 告如下： 一、 召开的时间、地点及方式 （一）召开时间：2024 年 11 月 5 日（星期二）下午 14:30-17:00，其中，现场会议时间为 14:30-16:35，网络互动时 间为 16:00-17:00。 （二）召开方式：现场交流、视频直播、网络文字互动 （三）现场会议地址：深圳证券交易所上市大厅 1 本公司及董事会全体成员保证信息披露的内 ...

| 证券代码：000060 | 证券简称：中金岭南 | 公告编号：2024-093 | | --- | --- | --- | | 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2024年第三季度可转换公司债券 转股情况公告 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。 特别提示： 中金转债（债券代码：127020）转股期限为2021年1 月25日至2026年7月19日，截至目前，转股价格为人民币 4.38元/股。 根据《深圳证券交易所股票上市规则》、《深圳证券交易 所上市公司自律监管指引第 15 号——可转换公司债券》有关 规定，深圳市中金岭南有色金属股份有限公司（以下简称"公 司"或"中金岭南"）现将 2024 年第三季度可转换公司债券 （以下简称"可转债"或"中金转债"）转股及公司股份变 动的情况公告如下： 一、 中金转债发行上市基本情况 （一）可转换公司债券发行情况 经中国证券监督管理委员会《关于核准深圳市中金岭南 1 有色金属股份有限公司公开发行可转换公司债券的批复》 （证监许可[2020]1181 ...