说明：本表中的"比例"为四舍五入后保留两位小数的结果。 二、控股股东股份累计被质押的情况 证券代码：000426 证券简称：兴业银锡 公告编号：2025-63 内蒙古兴业银锡矿业股份有限公司 关于控股股东部分股权解除质押的公告 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。 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"）于近 日接到控股股东内蒙古兴业黄金冶炼集团有限责任公司(以下简称"兴业集团") 的通知，兴业集团将其所持有本公司部分股权解除质押，具体事项如下： 一、控股股东部分股份解除质押的基本情况 | 股东 | 是否为第一 大股东及一 | | 解除质押股数 | | 占其所持 | 占公司总 | 质押开始日 | 解除质押日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 致行动人 | | （股） | | 股份比例 | 股本比例 | 期 | 期 | | | 兴业 | | 是 | | 934,779 | 0.26% | 0.05% | 2018- ...

证券代码：000426 证券简称：兴业银锡 公告编号：2025-62 内蒙古兴业银锡矿业股份有限公司 关于以场外要约收购方式收购 Atlantic Tin Ltd 的 进展公告 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、本次交易概述 1、内蒙古兴业银锡矿业股份有限公司（以下简称"兴业银锡"或"公司"） 于 2025 年 4 月 30 日召开第十届董事会第十七次会议及第十届监事会第十五次 会议审议通过了《关于以场外要约收购方式收购 Atlantic Tin Ltd 的议案》。 同日，公司与 Atlantic Tin Limited（大西洋锡业有限公司，以下简称"目标公 司"，澳大利亚非上市公众公司）签署了《要约实施协议》，公司拟指定全资子 公司兴业黄金（香港）矿业有限公司（以下简称"兴业黄金（香港）"）以每股 0.24 澳元的价格，以现金方式向持有目标公司全部已发行股份的股东发出场外 附条件要约收购。公司将为兴业黄金（香港）本次交易提供资金保障。此要约也 同时面向任何在要约期内通过行使目标公司期权（包括目标公司未上市的附条件 期权、未上市的期权和未上市 ...

数据是个宝 数据宝 投资少烦恼 现货白银续创近13年新高。 | 伦敦银现 | | | | | | --- | --- | --- | --- | --- | | AGUSDO 贵 | | | | | | 39.091 | 昌 | 39.116 | 昨日收 | 38.508 | | 0.583 1.51% | 低 | 38.401 | 买价 | 39.091 | | | | 38.524 | 卖价 | 39.117 | | 相关ETF 2 | | | 国投白银LOF 1.064 2.01% > | | | से में ब्र EK 月K | 周K | 品目 | 原多v | | | 均线▼ 日线 M5:37.510 M10:37.053 M20:36.685 M30:36.440 | | | | 前复权 | | -39.446 -- | | | | 39.116 | | 37.414 | | | | | | 35.382 | | | | | | 33.349 | | | | | | 31.647 | | | | | | 2025/05/05 | | | | 2025/07/14 | 7月14日，伦敦银现货盘中站 ...

Investment Rating - The industry investment rating is "Buy" for the stock 兴业银锡 (000426.SZ) with projected EPS growth from 0.86 in 2024 to 1.76 in 2027, and a decreasing PE ratio from 18.90 to 10.05 over the same period [5]. Core Insights - The report highlights a significant misunderstanding regarding silver's price drivers, emphasizing that while industrial demand constitutes nearly 60% of silver's usage, its long-term price correlation is more closely aligned with gold rather than industrial factors [1][11]. - Investment demand is identified as the primary driver of silver's total demand fluctuations, with a noted decline from a peak of 10,522 tons in 2022 to an estimated 5,939 tons in 2024 due to Federal Reserve interest rate hikes. However, the report suggests that there is substantial demand elasticity in this sector, which could counterbalance the impact of rising silver prices on industrial demand [1][18]. - The report argues against the notion that declining photovoltaic (PV) demand will negatively impact silver, citing historical trends where investment demand has compensated for drops in industrial demand. The PV sector contributed 78% of silver's demand growth from 2019 to 2024, despite concerns about slowing growth [2][24][25]. - The report also discusses the silver-gold ratio, suggesting that historical patterns indicate silver often outperforms gold during economic recoveries, even in periods of stagflation. The analysis of past market conditions shows that silver prices can rise significantly, even when industrial demand is under pressure [3][37][38]. Summary by Sections Section 1: Misconceptions about Silver's Price Drivers - Silver's long-term price trends are more aligned with gold than industrial demand, which primarily affects short-term fluctuations [1][14]. - Investment demand is the dominant factor influencing silver's price, with a strong positive correlation observed [1][18]. Section 2: Photovoltaic Demand and Silver - The photovoltaic sector has been a major growth driver for silver demand, with expectations of continued demand despite potential slowdowns [2][24]. - Historical data indicates that declines in specific industrial demands, such as photography, did not hinder silver's performance in past bull markets [2][25]. Section 3: Silver-Gold Ratio and Economic Conditions - The report highlights that silver has historically outperformed gold during economic recoveries, even in stagflation scenarios [3][37]. - The potential for silver price increases remains strong, supported by historical performance during similar economic conditions [3][38].

证券代码：000426 证券简称：兴业银锡 公告编号：2025-62 内蒙古兴业银锡矿业股份有限公司 关于以场外要约收购方式收购 Atlantic Tin Ltd 的 进展公告 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、本次交易概述 于 2025 年 4 月 30 日召开第十届董事会第十七次会议及第十届监事会第十五次 会议审议通过了《关于以场外要约收购方式收购 Atlantic Tin Ltd 的议案》。 同日，公司与 Atlantic Tin Limited（大西洋锡业有限公司，以下简称"目标公 司"，澳大利亚非上市公众公司）签署了《要约实施协议》，公司拟指定全资子 公司兴业黄金（香港）矿业有限公司（以下简称"兴业黄金（香港）"）以每股 附条件要约收购。公司将为兴业黄金（香港）本次交易提供资金保障。此要约也 同时面向任何在要约期内通过行使目标公司期权（包括目标公司未上市的附条件 期权、未上市的期权和未上市的员工期权等，下同）而发行的新增股份。要约期 为一个月，公司可以将其延长至 2025 年 10 月 31 日。如果没有法定自动延期或 目标公司同意 ...

Investment Rating - Industry rating: Recommended [3] Core Insights - The U.S. Department of Defense (DoD) has invested billions in MP Materials to accelerate the independence of U.S. rare earth magnets, but global production remains highly concentrated in China in the short term [9][14][45] - Nickel prices have decreased due to a significant drop in demand and production halts in Indonesia, which may impact local mining operations [12][20][23] - Cobalt prices have risen due to supply tightening from the Democratic Republic of Congo, which accounts for approximately 75% of global electric vehicle battery supply [13][31] - Lithium carbonate prices have increased, but future price movements will depend on downstream demand recovery [7][38][44] - Antimony prices have remained stable, with domestic supply still tight, and production expected to decline in the coming months [32][36] Summary by Sections Rare Earth Industry - MP Materials announced a partnership with the DoD to enhance domestic production capabilities, with a new magnet manufacturing facility expected to be operational by 2028 [45][46] - The DoD has committed to a minimum price of $110 per kilogram for NdPr products, ensuring stable cash flow for MP Materials [46][47] Nickel Industry - As of July 11, LME nickel spot price was $14,955 per ton, down 1.09% from July 4, with total LME nickel inventory increasing by 1.83% [20] - Domestic NPI smelting costs remain under pressure, affecting the acceptance of high-priced raw materials [20][23] Cobalt Industry - As of July 11, cobalt prices have shown mixed trends, with electrolytic cobalt at 249,300 yuan per ton, down 0.99%, while cobalt oxide increased by 1.54% [24][31] - The extension of a temporary export ban by the Congolese government is expected to tighten global cobalt supply [31] Lithium Industry - The average price of battery-grade lithium carbonate reached 63,800 yuan per ton, up 2.36% as of July 11 [7][38] - Market sentiment is cautious, with inventory levels remaining high, limiting upward price movement [38][44] Antimony Industry - Domestic antimony ingot prices have stabilized, with supply constraints expected to support future pricing [32][36]

Group 1: Company Performance and Financials - The company achieved a net profit of approximately 245 million CNY in 2024, representing a year-on-year growth of 39.16% [6] - In 2024, the company produced 228 tons of silver, with 158.82 tons from Yinman Mining and 46.07 tons from Qianjinda [10] - The company aims to optimize its operational strategies to enhance profitability and increase market value [4] Group 2: Future Plans and Projects - The company is actively advancing the Yinman Phase II and Yubang Mining expansion projects, with a production capacity target of 8.25 million tons per year [15] - The completion of the Yinman Phase II project is expected to take 1-2 years [5] - The company plans to maintain a focus on silver and tin resources while moderately investing in copper and gold [8] Group 3: Market and Investor Relations - The company has not yet engaged in hedging transactions despite the rapid increase in silver prices [2] - There are no current plans for stock buybacks using loans, although the company is open to future considerations [5] - The company is committed to enhancing communication with shareholders and the capital market to improve market activity and brand image [4] Group 4: Strategic Partnerships and Collaborations - The company is exploring potential collaborations with top-tier global mining service companies to improve construction speed and safety [3] - The company has signed a strategic cooperation framework agreement with China Railway Tunnel Bureau for future TBM excavation operations [2]

Group 1 - The non-ferrous metal sector is experiencing a strong upward trend, with stocks such as Wolong New Energy (600173) and Huayang New Materials (600281) hitting the daily limit [1] - Hunan Silver (002716) has seen an increase of over 4%, while Guangsheng Nonferrous (600259), Dongfang Zirconium (002167), and Xingye Silver Tin (000426) have also risen [1] - There is a disclosure of dark pool fund flows, indicating signals for early detection of major investors' stock accumulation [1]

Group 1 - The controlling shareholder, Inner Mongolia Xingye Gold Smelting Group Co., Ltd., has signed a share transfer agreement with Tianjin Xinye Investment Partnership (Limited Partnership) to transfer 121,920,400 shares, representing 6.87% of the total share capital of the company [1] - The Shenzhen Stock Exchange has completed the compliance review of the share transfer application materials submitted by both parties and issued a confirmation letter for the share transfer [2] - After the completion of the share transfer, the controlling shareholder will still hold 363,320,020 shares, accounting for 20.46% of the total share capital, while Tianjin Xinye will become the second-largest shareholder with 121,920,400 shares [2] Group 2 - The share transfer does not violate any relevant laws and regulations, and it will not lead to changes in the controlling shareholder or actual controller of the company [2] - The transfer will not harm the interests of the company or minority shareholders, nor will it adversely affect the normal operation and management of the company [2]

证券代码：000426 证券简称：兴业银锡 公告编号：2025-61 关于公司控股股东协议转让股份完成过户登记的公告 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。 一、本次权益变动的基本情况 2025 年 5 月 16 日，内蒙古兴业银锡矿业股份有限公司（以下简称"公司"） 控股股东内蒙古兴业黄金冶炼集团有限责任公司（以下简称"兴业集团"）与天 津信业投资合伙企业 （有限合伙）（以下简称"天津信业"）签署了《股份转 让协议》，兴业集团将其持有公司的 121,920,400 股股份（占公司总股本 6.87%） 协议转让给天津信业，具体内容详见公司于 2025 年 5 月 20 日在巨潮资讯网 （www.cninfo.com.cn）上披露的《兴业银锡：关于控股股东协议转让公司部分 股份暨权益变动的提示性公告》（公告编号：2025-38）及《兴业银锡：简式权 益变动报告书》（兴业集团）、《兴业银锡：简式权益变动报告书》（天津信业）。 二、本次权益变动的进展情况 近日，深圳证券交易所已完成对转让方兴业集团与受让方天津信业提交的股 份协议转让申请材料的合规性审查，并出具 ...