证券代码：000408 证券简称：藏格矿业 公告编号：2026-001 藏格矿业股份有限公司 公司将严格按照相关法律法规的要求，对江苏藏青基金的后续进展情况及时 履行信息披露义务，敬请广大投资者注意投资风险。 特此公告。 藏格矿业股份有限公司董事会 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、江苏藏青基金扩募事项概述 2026 年 1 月 6 日 2025 年 10 月 16 日，藏格矿业股份有限公司（以下简称"公司"）召开第 十届董事会第五次（临时）会议，审议通过了《关于全资子公司追加认购基金份 额暨关联交易的议案》，江苏藏青新能源产业发展基金合伙企业（有限合伙）（以 下简称"江苏藏青基金"）在原总规模 53.10 亿元基础上拟扩募 14 亿元。为维 持公司在江苏藏青基金中的战略影响力，公司全资子公司藏格矿业投资（成都） 有限公司作为有限合伙人，按原出资比例 47.08%追加认购江苏藏青基金扩募份 额 65,913.37 万元，并与无锡拓海股权投资基金管理有限公司等合伙人共同签署 了《江苏藏青新能源产业发展基金合伙企业（有限合伙）合伙协议》。具体内容 ...

Core Viewpoint - The company announced an expansion of the Jiangsu Cangqing Fund from an original scale of 5.31 billion yuan to 6.71 billion yuan, with a significant additional subscription from its wholly-owned subsidiary [1] Group 1 - The board of directors approved an increase of 1.4 billion yuan to the Jiangsu Cangqing Fund, raising its total size to 6.71 billion yuan [1] - The wholly-owned subsidiary, Cangge Mining Investment (Chengdu) Co., Ltd., will subscribe for 659.13 million yuan, accounting for 47.08% of the additional funding [1] - The Jiangsu Cangqing Fund has completed the change filing with the Asset Management Association of China, following the withdrawal of a limited partner, Ningbo Qingchublue Equity Investment Partnership [1]

Core Viewpoint - The energy metals sector experienced a significant increase of 2.74% on January 5, with Cangge Mining leading the gains, reflecting a positive trend in the market for energy-related materials [1]. Market Performance - The Shanghai Composite Index closed at 4023.42, up by 1.38% - The Shenzhen Component Index closed at 13828.63, up by 2.24% [1]. Individual Stock Performance - Cangge Mining (000408) closed at 89.99, with a rise of 6.62% and a trading volume of 203,600 shares, amounting to a transaction value of 1.802 billion yuan - Shengxin Lithium Energy (002240) closed at 36.60, up by 6.30%, with a trading volume of 791,700 shares and a transaction value of 2.813 billion yuan - Rongjie Co., Ltd. (002192) closed at 54.46, increasing by 5.24%, with a trading volume of 220,000 shares and a transaction value of 1.178 billion yuan - Xizang Mining (000762) closed at 27.38, up by 4.23%, with a trading volume of 130,970 shares and a transaction value of 838 million yuan [1]. Capital Flow Analysis - The energy metals sector saw a net inflow of 896 million yuan from main funds, while retail funds experienced a net outflow of 799 million yuan [2]. - The main funds' net inflow and outflow for key stocks include: - Tianqi Lithium (002466) with a net inflow of 396 million yuan, accounting for 11.31% - Shengxin Lithium Energy (002240) with a net inflow of 324 million yuan, accounting for 11.53% - Ganfeng Lithium (002460) with a net inflow of 293 million yuan, accounting for 7.65% [3].

Core Viewpoint - The lithium extraction sector from salt lakes is experiencing significant upward momentum, driven by strong market sentiment and policy support, with leading companies like Salt Lake Co. and Cangge Mining showing robust performance and attracting investor interest [1][2]. Group 1: Market Performance - The salt lake lithium extraction sector has shown notable volatility and upward movement, with key players like Salt Lake Co. hitting the upper limit of stock prices, serving as a market sentiment indicator [1] - Cangge Mining has reached new highs, reflecting strong investor demand for quality salt lake lithium extraction stocks [1] - Other companies in the sector, including Beijiete, Yiwei Lithium Energy, Chuanheng Co., and others, have also seen synchronized gains, indicating a broad-based rally [1] - Overall trading volume in the sector has significantly increased compared to the previous trading day, providing solid support for price increases [1] Group 2: Policy and Supply-Demand Dynamics - The salt lake lithium extraction sector is set to benefit from government policies aimed at promoting supply-side reforms in the lithium battery upstream, particularly favoring integrated companies with their own lithium resources [2] - By 2026, the global lithium market is expected to shift from surplus to a tight balance, with the surplus narrowing from 140,000 tons in 2025 to approximately 30,000 tons, driven by surging demand in energy storage and resilient growth in electric vehicles [2] - The anticipated price range for lithium carbonate in 2026 is projected to be between 80,000 to 120,000 yuan per ton, with potential for prices to exceed 120,000 yuan in the latter half of the year [2] Group 3: Technological Advancements - Continuous breakthroughs in lithium extraction technology are accelerating the industry's green transformation, with upcoming exhibitions showcasing efficient extraction methods and environmental equipment [3] - Domestic companies have achieved significant technological advancements, enhancing lithium recovery rates and reducing production cycles, which contribute to cost reduction and efficiency improvements [3] Group 4: Demand Growth in Related Industries - The rising demand for lithium in the electric vehicle and energy storage sectors is expected to drive rigid growth in lithium requirements, supported by government subsidies and tax reductions for domestic lithium mining companies [4] - The lithium extraction sector's output will provide stable and low-cost raw materials for the power battery industry, aiding in cost reduction and efficiency improvements [4] - The stabilization and recovery of lithium prices will enhance profitability for lithium salt processing companies and provide stable support for cathode material industries [4]

Group 1: A-Share Market Performance - The A-share market opened higher on January 5, with all three major indices rising collectively, and the Shanghai Composite Index returning to the 4000-point mark for the first time in 34 trading days [1] - Insurance and precious metals sectors led the gains, with New China Life Insurance (601336) rising nearly 8% to reach a historical high, while China Ping An, China Pacific Insurance (601601), China Life Insurance (601628), and China Reinsurance (601319) also saw significant increases [1] Group 2: Brain-Computer Interface Sector - The brain-computer interface concept experienced a surge, with several companies hitting the daily limit up, including Meihua Medical (301363) and Aipeng Medical (300753), both reaching the 20% limit up, alongside other companies like Botao Bio and Aerospace Changfeng (600855) [1] - The surge was influenced by Elon Musk's announcement regarding Neuralink's plans to significantly increase brain device production by 2026 and innovate in implantation methods [1] Group 3: Lithium Mining and Storage Chip Sector - The lithium mining sector saw a strong rally, particularly in the salt lake lithium extraction direction, with Salt Lake Co. (000792) hitting the daily limit up and reaching a three-and-a-half-year high, while Cangge Mining (000408) rose nearly 6% to set a new historical high [2] - Storage chip concepts also strengthened, with Jiangbolong (301308) rising over 14% and Shanghai Xinyang (300236) increasing over 12%, driven by significant investments in AI infrastructure by major North American cloud service providers [2] Group 4: Storage Chip Market Forecast - Guojin Securities predicts a continued supply-demand imbalance in the global storage chip market for 2026, with DRAM supply expected to grow by 15% to 20% and demand by 20% to 25%, while NAND supply is projected to increase by 13% to 18% and demand by 18% to 23% [3] - The consumption of DRAM and NAND flash in the server sector is expected to surge by 40% to 50% year-on-year, with even faster growth in AI server applications [3] - Price forecasts for storage contracts indicate a potential increase of 30% to 40% in Q1 2026, with DDR5 RDIMM memory prices expected to rise over 40% and NAND flash prices anticipated to see double-digit percentage increases [3]

每经AI快讯，1月5日，盐湖提锂板块震荡走高，藏格矿业盘中创新高，盐湖股份涨停，倍杰特、亿纬 锂能、川恒股份、富临精工、盛新锂能跟涨。 （文章来源：每日经济新闻） ...

两融数据显示，该股最新（12月31日）两融余额为18.48亿元，其中，融资余额为17.80亿元，近10日增 加9586.06万元，环比增长5.69%。 公司发布的三季报数据显示，前三季度公司共实现营业收入24.01亿元，同比增长3.35%，实现净利润 27.51亿元，同比增长47.26%，基本每股收益为1.7566元，加权平均净资产收益率18.30%。（数据宝） 藏格矿业股价再创历史新高，该股近期呈不断突破新高之势，近一个月累计有13个交易日股价刷新历史 纪录。截至09:45，该股目前上涨4.30%，股价报88.03元，成交625.36万股，成交金额5.45亿元，换手率 0.40%，该股最新A股总市值达1382.27亿元，该股A股流通市值1382.26亿元。 证券时报·数据宝统计显示，藏格矿业所属的有色金属行业，目前整体涨幅为1.23%，行业内，目前股价 上涨的有101只，涨幅居前的有斯瑞新材、湖南白银、豫光金铅等，涨幅分别为11.77%、7.51%、 6.89%。股价下跌的有39只，跌幅居前的有有研粉材、铜陵有色、华锡有色等，跌幅分别为6.69%、 4.33%、3.99%。 （文章来源：证券时报网） ...

Group 1 - The report highlights that industrial metal prices have shown a significant upward trend, particularly for copper and tin, which are constrained by supply issues. Prices have gradually increased throughout the year, with copper reaching a historical high [14][15][39]. - The overall performance of the non-ferrous metal sector has been impressive, with a year-to-date weighted average increase of 100.46% as of December 11, 2025, outperforming major indices like the Shanghai Composite and CSI 300 [26][33]. - The macroeconomic environment is expected to remain favorable for industrial metals in 2026, with continued liquidity support from the U.S. Federal Reserve's interest rate cuts and domestic policies aimed at boosting demand [39][10]. Group 2 - The report identifies AI and energy storage as significant drivers of marginal demand growth for copper and aluminum, with substantial capital expenditures from major cloud service providers expected to continue [45][58]. - For copper, the demand from AI data centers is projected to add approximately 26.8 thousand tons to total copper demand in 2026, driven by increased infrastructure investments [58][59]. - In the aluminum sector, while demand growth is anticipated, it is expected to be more limited compared to copper, with projected aluminum demand from data centers reaching around 78 thousand tons globally by 2026 [64][66]. Group 3 - The supply side for copper remains constrained due to ongoing production cuts and delays in new mining projects, which are expected to exacerbate structural shortages in the market [42][43]. - The aluminum market is facing a rigid supply ceiling domestically, with limited growth in production capacity and risks of shutdowns due to high electricity costs [43][44]. - The report recommends several companies with strong growth potential in the copper sector, including Shengtun Mining, Zangge Mining, and Zijin Mining, as well as companies in the aluminum sector like China Aluminum and China Hongqiao [11][39].

Precious Metals - The report highlights that gold remains a strong investment, with central banks continuing to increase their gold holdings, and gold ETFs experiencing sustained inflows during the interest rate cut cycle, indicating a bullish trend for gold prices [1][20] - Silver is expected to see significant price increases, driven by financial demand rather than industrial demand, with the gold-silver ratio indicating that silver is undervalued compared to gold [1][20] Industrial Metals - Copper is projected to experience a bullish market due to a clear supply-demand gap, supported by macroeconomic factors such as tariff reductions and increased capital expenditures, alongside strong demand from the energy and AI sectors [2][3] - Aluminum supply may face constraints due to high demand from data centers, with potential production risks and a tightening global supply-demand balance expected in 2026 [3] - Tin supply is limited due to global resource scarcity, while demand is expected to rise from the semiconductor and AI sectors, leading to a price increase [4] - Nickel prices are anticipated to recover as supply disruptions in Indonesia continue to impact the market [4] Energy Metals - Lithium demand is expected to surge, particularly from energy storage applications, with supply growth projected to slow down due to reduced capital expenditures by producers [7] - Cobalt prices are likely to rise due to export controls from the Democratic Republic of Congo, which will create a supply gap that cannot be compensated by increases in Indonesian production [8] Minor Metals - Tungsten prices are expected to rise due to persistent supply-demand imbalances, with limited new supply expected before 2027 [9] - Antimony prices are projected to remain high due to rigid supply constraints and potential easing of export controls, which could enhance price elasticity [10] - The rare earth sector is expected to see improved supply-demand dynamics, with prices likely to rise as demand from electric vehicles and robotics increases [11]

声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 作者：情报员 国家知识产权局信息显示，广西玉柴机器股份有限公司取得一项名为"一种柴油机机油稀释快速验证方 法"的专利，授权公告号CN117072280B，申请日期为2023年9月。 本文源自：市场资讯 天眼查资料显示，广西玉柴机器股份有限公司，成立于1993年，位于玉林市，是一家以从事专用设备制 造业为主的企业。企业注册资本47298.9346万人民币。通过天眼查大数据分析，广西玉柴机器股份有限 公司共对外投资了17家企业，参与招投标项目945次，财产线索方面有商标信息15条，专利信息5000 条，此外企业还拥有行政许可1195个。 ...