内蒙古兴业银锡矿业股份有限公司 证券代码：000426 证券简称：兴业银锡 公告编号：2025-45 关于召开 2024 年年度股东大会的通知 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 一、召开会议的基本情况 1、股东大会届次：2024年年度股东大会 2、股东大会的召集人：公司董事会 公司于2025年6月9日召开的第十届董事会第十八次会议以9票同意，0票反对， 0票弃权的表决结果审议通过了《关于提请召开公司2024年年度股东大会的议案》。 3、会议召开的合法、合规性：本次股东大会会议召开符合有关法律、行政 法规、部门规章、规范性文件和公司章程的规定，会议的召开合法、合规。 4、会议召开的日期、时间： （1）现场会议时间：2025年6月30日（星期一）下午14:30； （2）互联网投票系统投票时间：开始时间2025年6月30日（现场股东大会召 开当日）上午9:15，结束时间为2025年6月30日（现场股东大会结束当日）下午 15：00； （3）交易系统投票时间：2025年6月30日9:15—9:25，9:30—11:30和13:00 —15:00。 5、会议 ...

证券代码：000426 证券简称：兴业银锡 公告编号：2025-44 内蒙古兴业银锡矿业股份有限公司（以下简称"公司"）第十届董事会第十 八次会议通知于 2025 年 6 月 6 日以专人送达、电子邮件等方式发出，会议于 2025 年 6 月 9 日以通讯方式召开。本次会议应参加表决董事 9 人，实际收到表决票 9 张。会议的召集、召开、表决符合《公司法》及《公司章程》的规定，决议合法 有效。 二、董事会会议审议情况 1、审议通过了《关于提请召开公司 2024 年年度股东大会的议案》 具体内容详见公司同日于巨潮资讯网（www.cninfo.com.cn）上披露的《兴 业银锡：关于召开 2024 年年度股东大会的通知》(公告编号：2025-45)。 表决结果：同意 9 票，反对 0 票，弃权 0 票。 2、审议通过了《关于制定<信息披露暂缓与豁免管理制度>的议案》 内蒙古兴业银锡矿业股份有限公司 第十届董事会第十八次会议决议公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 内蒙古兴业银锡矿业股份有限公司董事会 二〇二五年六月十日 本议 ...

Investment Rating - The report maintains a recommendation for precious metals, indicating a bullish outlook due to various factors including U.S. tariff policies and inventory dynamics [1][2]. Core Views - The U.S. has announced an increase in tariffs on steel and aluminum, which has led to heightened risk aversion and a significant rise in precious metal prices. Gold and silver prices increased by 2.48% and 7.61% respectively compared to the previous week [7][8]. - Domestic aluminum ingot inventory continues to decrease, while aluminum rod inventory may begin to accumulate due to seasonal demand fluctuations [2][8]. - The report highlights the potential for silver to benefit from its dual role as an industrial metal in the renewable energy sector and as a financial safe haven [7][8]. Summary by Sections Industrial Metals - The report notes that the U.S. tariff increase has triggered market concerns regarding trade policies for other metals, leading to price increases in precious metals [1][7]. - Copper inventories have shown mixed trends, with SHFE copper inventory at 107,400 tons, up by 1,613 tons week-on-week, while LME copper inventory decreased by 17,475 tons to 132,400 tons [2][8]. Precious Metals - The report recommends several companies in the precious metals sector, including Chifeng Jilong Gold Mining, Zhongjin Gold, and Shandong Gold, among others [2][8]. - The report emphasizes the potential for silver prices to rise due to its industrial applications and current market conditions [7][8]. Aluminum Industry - Domestic aluminum ingot inventory decreased by 15,000 tons to 504,000 tons, while aluminum rod inventory saw a slight increase [7][8]. - The report discusses the establishment of a joint venture by Nanshan Aluminum in Indonesia for a caustic soda project, which is expected to enhance the company's supply chain resilience [8]. New Energy Metals and Minor Metals - The report indicates that tin prices have risen due to slow recovery in Myanmar's tin production and a decrease in social inventory, with national tin ingot social inventory at 8,998 tons, down by 257 tons week-on-week [3][8]. - The report recommends companies with growth potential in tin and tungsten sectors, such as Xingye Silver Tin and Zhangyuan Tungsten [8].

Group 1 - Silver prices have surged to a 13-year high, while platinum has reached a two-year high, driven by increased demand for industrial precious metals and a strong investment sentiment in the precious metals market [2][3] - The recent price movements are attributed to a combination of supply shortages and strong demand, particularly from India for silver and a recovery in platinum demand from China [3][5] - The gold-silver ratio has surpassed 100, indicating that silver is significantly undervalued relative to gold, which is fueling expectations for a price correction in silver [3] Group 2 - Platinum ETF holdings have increased by over 3% since mid-May, while silver ETF inflows have risen nearly 8% since February, indicating growing investor interest in these assets [4] - JP Morgan's report highlights a supply shortage in platinum, driven by reduced mining output and increased demand for jewelry, suggesting a bullish outlook for platinum prices [5][6] - The potential for platinum's role in the hydrogen economy and its applications in high-end photovoltaic components may further enhance its demand in the future [5]

证券代码：000426 证券简称：兴业银锡 公告编号：2025-43 原持股 5%以上股东国民信托有限公司（代表"国民信托·恒盈 5 号事务管理 类集合资金信托计划"）保证向本公司提供的信息内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 内蒙古兴业银锡矿业股份有限公司（以下简称"公司"或"本公司"）于 2025 年 3 月 19 日披露了《兴业银锡：关于持股 5%以上股东减持计划的预披露公告》（公 告编号:2025-17），原持股 5%以上的股东国民信托有限公司（代表"国民信托·恒 盈 5 号事务管理类集合资金信托计划"，以下简称"国民信托"）计划自该公告披 露之日起 15 个交易日后的 3 个月内，以集中竞价交易方式实施权益变动计划，权益 变动股份数量不超过 17,756,357 股，即不超过公司总股本的 1%。2025 年 5 月 28 日， 公司披露了《关于持股 5%以上股东权益变动后持股比例触及 1%整数倍且持股比例降 低至 5%以下的提示性公告》（公告编号：2025-41）及《简式权益变动报告书 (国民 信托)》，自此 ...

Group 1 - The recent surge in silver prices has led to significant gains in the stocks of silver-related companies, with notable increases in shares of Silver Industry (601212.SH), Shengda Resources (000603.SZ), and Hunan Silver (002716.SZ) reaching their daily limit, while Xingye Silver Tin (000426.SZ) rose by 8.21% [1] - The increase in stock prices is primarily attributed to the rise in silver futures and spot prices, which has boosted investor confidence, although the actual impact on company performance may be limited [2][3] - Analysts suggest that the driving force behind the current silver rally is the active correction of the "gold-silver ratio," with liquidity shifting towards silver as it breaks through key technical levels, potentially indicating continued strength for silver relative to gold [3] Group 2 - Companies engaged in silver production, such as Hunan Silver, are facing cost pressures due to rising silver prices, prompting them to enhance resource self-sufficiency by resuming operations at their own mines [3] - Shengda Resources, being a mining company, benefits from higher silver prices as it can increase product sales prices, which is favorable for its performance [4] - Multiple institutions believe that the upward trend in silver prices may persist, driven by both safe-haven demand and industrial applications, with expectations for prices to potentially reach around $38 per ounce in the short term [5]

兴业银锡 20250605 摘要 公司最近在股东层面和资源层面发生了较大变化。上个月底，债务重整迎来了 最终进展，大股东的债务问题即将解决。此外，公司上周披露了银根矿山的储 量报告，显示该矿山储量和品位均为世界级。这些因素使公司进入了发展的快 车道。 兴业银锡受益于白银和锡的牛市行情，尤其是在光伏需求爆发后，白银 需求大幅增加，而供给端增长有限，库存处于低位，价格弹性巨大。同 时，锡市场需求稳定，受半导体行业 AI 驱动影响显著，公司有望受益于 金属价格上涨。 公司白银产能规划显示，2025 年预计产量 300 多吨，2027-2028 年 三座矿山全部投产后将达 1,800 吨，接近全球前三大白银公司水平，未 来三年白银产能增长空间约为 2.7 倍，若包括布敦银根则增长空间可达 6 倍。 兴业银锡的白银生产成本具有显著优势，2024 年成本约为 8.9 美元/盎 司，低于全球前十大矿山平均成本 20 美元/盎司，处于全球成本曲线的 25%以内，具备较强的盈利能力和竞争优势。 公司通过一系列收购和托管，资源储量显著扩张，包括银漫矿业、宇邦 新材和布敦银根等，使公司整体储量达到亚洲第一、全球第八水平，并 计划收 ...

Group 1 - The precious metals sector is experiencing a significant upward trend, with silver leading the gains [1] - Hunan Silver has reached its daily limit up, while other companies like Silver Nonferrous, Xingye Silver Tin, and Shengda Resources have also shown notable increases [1] - On Thursday, the spot silver price surged by 4.5%, surpassing the $36 per ounce mark, reaching its highest level since February 2012 [1]

Group 1 - The A-share small metal sector experienced an initial rise, with Haotong Technology and Xingye Silver Tin both increasing by over 6% [1] - Other companies such as Guiyan Platinum Industry, Xianglu Tungsten Industry, Guangsheng Nonferrous, Yian Technology, and Zhangyuan Tungsten Industry also saw gains [1]

Core Viewpoint - The company is expanding its resource portfolio globally, focusing on silver, tin, and zinc, with significant acquisitions and operational growth expected in the coming years [1][2]. Group 1: Resource Expansion - The company has undergone three rounds of resource expansion since its listing, with major acquisitions including Bosheng Mining (gold) and Yubang Mining (silver and zinc) in 2023 [1]. - The company currently operates three major mines that are expected to generate substantial profits, positioning it as a high-growth cash cow [1]. - The company holds three world-class silver mines, with significant silver resources: Yinan Mining (8,058 tons), Yubang Mining (17,900 tons), and Budun Yingen Mining (11,000 tons) [1]. Group 2: Future Production Capacity - The company’s silver production capacity is projected to increase by 2.7 times, reaching 1,494 million tons per year after full production of its mines [2]. - In 2024, the combined silver production from the company's three mines is expected to be 229 tons, which is below the average production of over 350 tons per year from the top ten silver mines globally [2]. Group 3: Market Conditions - Current silver and tin prices are considered undervalued, with potential for recovery as industrial metal prices may realign with gold prices due to manufacturing PMI trends [3]. - The silver market is facing a persistent supply-demand gap, exacerbated by low inventory levels and increasing demand from the photovoltaic sector [3]. - Tin supply issues are expected to persist due to geopolitical factors and resource depletion, while demand is anticipated to rise due to AI-driven growth in the semiconductor market [3]. Group 4: Financial Projections - The company’s projected revenues for 2025, 2026, and 2027 are estimated at 5.86 billion, 6.68 billion, and 8.32 billion respectively, with net profits of 2.06 billion, 2.41 billion, and 3.13 billion [4]. - The company is expected to benefit from high growth potential in the silver and tin multi-metal mining sector, with a favorable price-to-earnings ratio forecasted [4].