证券代码：000426 证券简称：兴业银锡 公告编号：2025-88 内蒙古兴业银锡矿业股份有限公司 关于公司及子公司为银漫矿业融资提供担保的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、担保情况概述 8、股权结构：银漫矿业为本公司全资子公司，公司持有其 100%股权。 9、银漫矿业不是失信被执行人。 10、主要财务状况： 内蒙古兴业银锡矿业股份有限公司（以下简称"公司"）全资子公司西乌 珠穆沁旗银漫矿业有限责任公司（以下称"银漫矿业"）因经营发展的需要，拟 向银团申请不超过人民币 10 亿元（含本数）的流动资金贷款，期限不超过 3 年 （含 3 年）。公司拟为银漫矿业的银团贷款提供连带责任保证担保。同时公司全 资子公司内蒙古兴业集团融冠矿业有限公司（以下简称"融冠矿业"）拟以其持 有的采矿权（证号：C1500002009093110037046）为银漫矿业的上述贷款提供担 保，同时提供连带责任保证担保。担保本金不超过人民币 10 亿元（含本数）， 担保期限为主合同届满之日起三年，具体以与银行签订的合同为准。 上述提供担保事项已经公司 2025 年 1 ...

证券代码：000426 证券简称：兴业银锡 公告编号：2025-90 内蒙古兴业银锡矿业股份有限公司 关于变更签字注册会计师的公告 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。 （1）项目合伙人、签字注册会计师：张旭 张旭先生，2010年取得中国注册会计师资格，2008年开始从事上市公司审计， 2008年开始在天衡会计师事务所执业，近三年签署和复核了11家上市公司审计报 告。 （2）签字注册会计师：张文杰 张文杰先生，2024年取得中国注册会计师资格，2022年开始从事上市公司审 计，2022年开始在天衡会计师事务所执业，近三年未签署上市公司审计报告。 内蒙古兴业银锡矿业股份有限公司（以下简称"公司"）于2024年4月24日 召开第十届董事会第十六次会议，审议通过了《关于2025年度续聘会计师事务所 的议案》，同意续聘天衡会计师事务所（特殊普通合伙）（以下简称"天衡事务 所"）为公司2025年度财务报表审计机构及内控审计机构。具体内容详见公司于 2025年4月28日在巨潮资讯网（http://www.cninfo.com.cn）披露的《兴业银锡： 关于续聘20 ...

Core Insights - The company announced that its wholly-owned subsidiary, Tibet Shannan Antimony Gold Resources Co., Ltd., signed a share transfer agreement with Weiling New Energy Co., Ltd. on November 28, 2025 [1] - The subsidiary will acquire a total of 20,233,784 shares from Shanghai Lingyi New Materials Co., Ltd. and Wen Ping, representing 7.7646% of the target company's total share capital [1] - The acquisition price is set at 15.21 yuan per share, with a total transaction amount of approximately 307,755,854.64 yuan [1] - Following the acquisition, the subsidiary will become the largest shareholder of the target company [1] Company Overview - The target company, Weiling New Energy Co., Ltd., is engaged in the mining of multi-metal ores including tungsten, tin, lead, and zinc, as well as lithium ore selection and processing of lithium salts [1]

证券代码：000426 证券简称：兴业银锡 公告编号：2025-89 内蒙古兴业银锡矿业股份有限公司 关于召开 2025 年第四次临时股东会的通知 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、股东会届次：2025年第四次临时股东会 2、股东会的召集人：公司董事会 公司于2025年11月28日召开的第十届董事会第二十四次会议以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2025年第四次临时股东 会的议案》。 3、会议召开的合法、合规性：本次股东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12月17日（星期三）下午14:30； （2）互联网投票系统投票时间：开始时间2025年12月17日（现场股东会召 开当日）上午9:15，结束时间为2025年12月17日（现场股东会结束当日）下午15： 00； （3）交易系统投票时间：2025年12月17日9:15—9:25，9:30—11:30和13:00 —15:0 ...

证券代码：000426 证券简称：兴业银锡 公告编号：2025-84 内蒙古兴业银锡矿业股份有限公司 第十届董事会第二十四次会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 本议案已经公司董事会审计与法律委员会及环境、社会与管治委员会会议审 议通过。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：关于全资子公司对外投资的公告》(公告编号：2025-85)。 2、审议通过了《关于补选公司第十届董事会非独立董事的议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票。 本议案已经公司董事会提名与治理委员会会议审议通过。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：关于补选公司 独立董事、非独立董事的公告》(公告编号：2025-86)。 本议案尚需提交公司 2025 年第四次临时股东会审议。 3、审议通过了《关于补选公司第十届董事会独立董事的议案》 表决结果：同意 9 票，反对 0 票，弃权 0 票。 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（以下简称 ...

Group 1 - International silver prices have surged, with London spot silver reaching $57.86 per ounce, marking a cumulative increase of over 98% this year [1] - COMEX silver futures peaked at $58.61 per ounce, achieving a historical high for three consecutive days [1] - Domestic silver futures also saw a rapid increase, rising nearly 8% in one session and marking five consecutive days of gains [1] Group 2 - The weakening of the US dollar and strengthened expectations for interest rate cuts have benefited precious metals, with a 70% probability of a rate cut in December [2] - Geopolitical risks have heightened demand for safe-haven assets, contributing to the rise in silver prices [3] Group 3 - Demand from the photovoltaic and electronics industries is recovering, highlighting silver's industrial properties; silver is a key raw material in photovoltaic silver paste, with approximately 7-10 tons of silver used per GW of photovoltaic components [4] - The global photovoltaic installation is expected to exceed 500 GW by 2025, a year-on-year increase of 15% [4] - The World Silver Council predicts an 8.2% year-on-year increase in global silver demand by 2025, with industrial demand accounting for 58% of total demand, a historical high [4] - A supply-demand gap of 95 million ounces is expected in 2025, marking the fifth consecutive year of supply shortages, with a cumulative gap of approximately 820 million ounces from 2021 to 2025 [4] Group 4 - Institutions are raising silver price forecasts, with UBS increasing its 2026 silver price prediction to $60 per ounce [4] - Bank of America has also raised its price forecasts for silver and other commodities [4] - The Shanghai Futures Exchange silver inventory has dropped to its lowest level since 2015, indicating the fundamental reason for the price surge is the scarcity of physical silver [4] Group 5 - Companies in the silver sector include: - Xinyi Silver Lead: Leading in silver reserves in Asia with 24,500 tons, ranking eighth globally [6] - Shengda Resources: Domestic industry leader with nearly 10,000 tons of silver reserves [6] - Yintai Gold: Significant silver resource reserves from its core mines [6] - Hunan Silver: Successfully transformed into a "mining and metallurgy integrated" enterprise with an annual smelting capacity of 1,300 tons, the largest in China [6] - Silver Nonferrous: The only multi-metal production base in China for copper, lead, zinc, gold, and silver [6] - Hengbang Co.: Industry leader in silver produced as a byproduct of gold smelting [6]

Core Viewpoint - The silver market is experiencing significant price increases, driven by dovish comments from Federal Reserve officials and strong demand in industrial sectors, particularly in green energy and AI, leading to a bullish outlook for precious metals [1][2]. Group 1: Market Performance - As of December 1, silver spot prices surpassed $57 per ounce, with COMEX silver breaking through $58 per ounce for the first time [1]. - The main contract for silver on the Shanghai Futures Exchange rose over 7%, reaching 13,475 yuan per kilogram, marking a new high [1]. - Several A-shares related to silver, such as Hunan Silver and Xingye Silver, hit their daily limit up, although some later experienced price corrections [1]. Group 2: Fundamental Analysis - The recent rise in silver prices has increased activity in the precious metals sector, with cost pressures in industrial applications like photovoltaics and electronics becoming apparent [2]. - The long-term support for silver prices remains strong due to persistent supply-demand gaps and increasing demand from green energy and AI sectors, alongside expectations of loose monetary policy [2]. - The combination of monetary easing and industrial demand is driving silver prices, with a significant portion of demand (over 60%) coming from the industrial sector [2]. Group 3: Future Outlook - Short-term silver prices may experience fluctuations, but the medium to long-term outlook remains positive, driven by the ongoing energy transition and potential for further price increases if interest rate cuts materialize [2]. - Investors are advised to approach the market rationally, taking advantage of structural opportunities while being mindful of potential risks such as inflation, economic downturns, and geopolitical changes [2].

能源金属方面，主导全球供应的刚果（金）开始实行年度出口配额管理制度。新能源汽车高端化和消费电子复苏，叠加美国等国家军工与战略 储备需求增加，2025-2026年供需平衡表缺口或逐步扩大。 稀有金属方面，万物电驱时代，稀土永磁新能源等传统需求长期稳定增长，人形机器人与低空经济等新型需求即将发力。国内稀土供给管控进 一步强化，政策落地行业集中度再提升。 【周期风口已至，"有色牛"有望持续】不同的金属，景气度、节奏与驱动点不一致，分化在所难免，如果看好有色金属，一个比较轻松的思路 是通过全覆盖来更好地把握整个板块的贝塔行情。揽尽有色金属行业龙头的有色龙头ETF（159876）及其联接基金（A类：017140，C类： 017141）标的指数全面覆盖铜、铝、黄金、稀土、锂等行业，相较投资单一金属行业，能够分散风险，适合作为投资组合的一部分进行配置。 12月1日，截至14时1分，有色龙头板块表现强劲，中证有色金属指数上涨2.58%，成份股方面，江西铜业领涨7.88%，白银有色上涨7.32%， 兴业银锡上涨7.18%。热门ETF方面，有色龙头ETF（159876）场内价格上涨2.49%，成交额达3443.95万元。 | | ...

Core Insights - The non-ferrous metal sector is experiencing strong performance, with the China Securities Nonferrous Metals Index rising by 2.58% as of December 1 [1] - Leading stocks in the sector include Jiangxi Copper, which surged by 7.88%, followed by Silver and Yunnan Tin, which increased by 7.32% and 7.18% respectively [1] - The Nonferrous Metal ETF (159876) also saw a price increase of 2.49%, with a trading volume of 34.44 million yuan [1] Industry Performance - The non-ferrous metal sector is entering a new upward cycle, driven by macroeconomic expectations and supply chain disruptions due to tariffs and resource control policies [1][3] - The anticipated recovery in macro expectations from the Geneva Agreement between China and the U.S. is expected to further boost non-ferrous metal prices and industry performance [1][3] Investment Strategy - A diversified investment approach through the Nonferrous Metal ETF (159876) is recommended to capture the overall sector's performance while mitigating risks associated with individual metal investments [3] - The ETF covers a wide range of metals including copper, aluminum, gold, rare earths, and lithium, making it suitable for inclusion in investment portfolios [3] Future Outlook - The upward trend in non-ferrous metal prices and corporate profitability is expected to continue into 2026, supported by ongoing macroeconomic factors [1][3] - Structural demand for copper is anticipated to grow due to the transition to renewable energy and increased demand from data centers, despite some downward pressure on traditional copper consumption [3]

Group 1: Silver Price Surge - Silver prices have continued to rise, with spot silver breaking above $57 per ounce for the first time, marking a year-to-date increase of over 95%, significantly outperforming gold [1] - COMEX silver also reached $58 per ounce, while the main contract for silver futures in Shanghai saw an intraday increase of 7.79%, peaking at 13,520 yuan per kilogram, a record high since its listing [1] Group 2: Impact on A-Share Market - The surge in silver prices has led to a collective rally in silver-related stocks in the A-share market, with companies like Hunan Silver, Silver Nonferrous, Jiangxi Copper, and Xinyi Silver Tin hitting their daily price limits [2] - The price dynamics of silver are influenced by both macroeconomic policies and the recovery of global industrial demand, as silver possesses both precious and industrial metal characteristics [2] Group 3: Supply and Demand Dynamics - The global transition to renewable energy is increasing demand for silver in industries such as photovoltaics, AI, and semiconductors, while supply growth remains weak [3] - The World Silver Association predicts a decline in global silver demand to 1.12 billion ounces by 2025, a 4% year-on-year decrease, with supply expected at only 813 million ounces, leading to a structural supply gap of approximately 95 million ounces [3] Group 4: Company Performance - Rising silver prices are expected to enhance profit margins for upstream resource companies, with leading firms like Xinyi Silver Tin poised to benefit significantly [4] - Xinyi Silver Tin ranks first in Asia and eighth globally among silver companies, with silver reserves increasing to 30,600 tons and a production increase of 18.98% year-on-year to 212.16 tons in the first three quarters [4] - The company reported a revenue of 4.099 billion yuan in the first three quarters, a 24.36% increase year-on-year, with net profit rising by 4.94% to 1.364 billion yuan, driven by silver sales contributing 36.33% to total revenue [4]