Core Points - The company will redeem all unconverted bonds of "Tongling Ding 02" on October 13, 2025, after the last conversion date on October 10, 2025, which may lead to losses for investors who do not convert in time [2][4][24] - The redemption price for "Tongling Ding 02" is set at 100.063 yuan per bond, including accrued interest, with a current annual interest rate of 1.1% [3][14] - The bond's conversion price was adjusted to 3.20 yuan per share as of June 23, 2025, and the conversion period is from March 27, 2024, to September 20, 2029 [8][9][10] Redemption Details - The redemption conditions were met as the company's stock price exceeded 130% of the conversion price for 15 trading days [10][11] - The redemption registration date is October 10, 2025, and the funds will be credited to investors' accounts by October 20, 2025 [19][20] - The bond will be delisted from the Shenzhen Stock Exchange after the redemption is completed [24] Bond Issuance Information - The company issued 21,460,000 convertible bonds under the code "124024" with a total fundraising amount not exceeding 2.146 billion yuan [6][8] - The bonds were approved for issuance by the China Securities Regulatory Commission on July 12, 2023, and were listed on the Shenzhen Stock Exchange starting March 6, 2024 [7][8] Conversion and Redemption Procedures - Investors must apply for conversion through the securities company that holds the bonds, with a minimum conversion unit of one bond [22] - The company will provide daily announcements regarding the redemption process leading up to the redemption date [17]

Market Overview - The Shanghai Composite Index fell by 0.94% on October 10, with 18 out of the 28 sectors rising, led by construction materials and coal, which increased by 1.92% and 1.37% respectively [1] - The electronic and electrical equipment sectors experienced the largest declines, down by 4.71% and 4.46% respectively [1] - The non-ferrous metals sector dropped by 2.93% [1] Capital Flow - The net outflow of capital from the two markets reached 125.784 billion yuan, with 8 sectors seeing net inflows [1] - The construction materials sector had the highest net inflow of 418 million yuan, followed by the agriculture, forestry, animal husbandry, and fishery sector with a net inflow of 379 million yuan [1] - The electronic sector faced the largest net outflow of 38.319 billion yuan, followed by the electrical equipment sector with a net outflow of 25.535 billion yuan [1] Non-Ferrous Metals Sector - The non-ferrous metals sector saw a net outflow of 15.387 billion yuan, with 137 stocks in the sector, of which 30 rose and 104 fell [2] - The top three stocks with the highest net inflow were Antai Technology (22.3 million yuan), Silver Industry (19.5 million yuan), and Pengxin Resources (19.1 million yuan) [2] - The stocks with the largest net outflow included Northern Rare Earth (2.519 billion yuan), Huayou Cobalt (1.011 billion yuan), and Luoyang Molybdenum (920 million yuan) [2] Non-Ferrous Metals Capital Inflow - The top stocks in terms of capital inflow included: - Antai Technology: +9.99%, turnover rate 10.79%, net inflow 223.06 million yuan - Silver Industry: +9.96%, turnover rate 3.52%, net inflow 194.94 million yuan - Pengxin Resources: +10.06%, turnover rate 10.60%, net inflow 190.96 million yuan [2][4] Non-Ferrous Metals Capital Outflow - The stocks with the largest capital outflow included: - Northern Rare Earth: -1.22%, turnover rate 8.90%, net outflow 2.518 billion yuan - Huayou Cobalt: -7.74%, turnover rate 7.85%, net outflow 1.011 billion yuan - Luoyang Molybdenum: -3.18%, turnover rate 2.59%, net outflow 919.66 million yuan [4]

证券代码：000630 证券简称：铜陵有色 公告编号：2025－099 债券代码：124024 债券简称：铜陵定 02 铜陵有色金属集团股份有限公司 关于铜陵定 02 即将停止转股暨赎回前最后 半个交易日的重要提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1.最后转股日：2025年10月10日 截至本公告披露时，距离"铜陵定02"停止转股并赎回仅剩最后半个 交易日（即2025年10月10日下午交易时段），2025年10月10日收市后，未 转股的"铜陵定02"将停止转股，剩余可转债将被强制赎回。若被强制赎 回，投资者可能面临损失。 2.本公司特别提醒"铜陵定02"持有人务必认真阅读本公告，充分了 解相关风险，注意最后转股时间，审慎作出投资决策。 特别提示： 证券代码：000630 证券简称：铜陵有色 债券代码：124024 债券简称：铜陵定02 转股价格：3.20元/股 转股期限：2024年3月27日至2029年9月20日 1."铜陵定02"赎回价格：100.063元/张（含当期应计利息，当期年 利率为1.1%，且当期利息含税），扣 ...

Core Viewpoint - The stock of Tongling Nonferrous Metals Group Co., Ltd. has experienced significant price fluctuations, with a cumulative deviation of +20% over three consecutive trading days, indicating abnormal trading activity [1] Company Summary - Tongling Nonferrous Metals announced that there is no need to correct or supplement previously disclosed information, and there are no undisclosed significant events affecting stock prices [1] - The company's production and operations are reported to be normal, with no major changes in the internal operating environment [1] Market Conditions - The market prices of the company's main products, including cathode copper and gold, have seen substantial increases recently [1] - The processing fees for copper concentrate are currently operating at low levels [1]

Core Viewpoint - The non-ferrous metal sector experienced a rebound after a dip, with copper leading the gains, particularly driven by Jiangxi Copper's stock hitting the daily limit up [1] Group 1: Market Performance - Jiangxi Copper (600362) reached the daily limit up, indicating strong investor interest [1] - Northern Copper (000737), Luoyang Molybdenum (603993), and Xingye Silver Tin (000426) set new historical highs [1] - Yunnan Copper (000878), Tongling Nonferrous Metals (000630), and Western Mining (601168) also showed significant gains [1] Group 2: Price Movements - The LME copper futures contract briefly touched $11,000 per ton overnight [1] - Citigroup raised its 0-3 month copper price target from $10,500 per ton to $11,000 per ton [1] - The average copper price is expected to reach $12,000 per ton by Q2 2026 [1]

Summary of Key Points from Conference Call Records Industry Overview - The conference call primarily discusses the non-ferrous metals industry, particularly focusing on iron ore, copper, cobalt, tin, and antimony markets, as well as the implications of geopolitical factors on these sectors [1][2][3][4][5][6][19][21]. Core Insights and Arguments Guinea Simandou Iron Ore Project - The Guinea Simandou iron ore project is expected to export without the need for a supporting smelting plant due to inadequate local power infrastructure [1][4]. - The project is projected to start logistics in 2025, with potential exports reaching 30 million to 60 million tons in 2026, and possibly 120 million tons in the next 2-3 years, significantly impacting global shipping trade [3]. Iron Ore Trade and Market Reactions - A potential pause in cooperation between China and BHP over settlement currency issues could significantly affect iron ore trade, although current overseas market reactions are muted [1][5]. - Domestic investors are more sensitive to these developments, as evidenced by stock movements in related companies [5]. Steel Industry Dynamics - Short-term control of iron ore imports to manage steel production is unlikely, with supply-side reforms being crucial for long-term industry health [1][6]. - High-quality companies like Baosteel and Hualing Steel are identified as having medium to long-term investment value due to low valuations and high dividend yields [6]. Copper Market Supply and Demand - The copper market is expected to face significant supply disruptions, with major producers like Teck Resources and Efenhau Mine lowering production forecasts [1][8]. - Global copper supply is projected to be tight in the first half of 2026, with prices potentially reaching historical highs of $12,000 to $14,000 per ton [1][12]. AI and Data Center Demand for Copper - The demand for copper is significantly driven by AI and data centers, with each cabinet now using approximately 300 kg of copper, leading to an annual increase in demand of about 100,000 tons from AI-related equipment alone [9][12]. Cobalt Market Trends - Cobalt prices have risen to around 350,000 RMB per ton, with expectations to reach 400,000 to 450,000 RMB in Q4 2025 [1][16]. - Companies like Huayou Cobalt are expected to see profit increases due to rising cobalt prices [1][16]. Tin and Antimony Market Outlook - China's antimony exports have shown a significant increase since August 2025, highlighting its strategic value amid U.S. supply chain concerns [2][19]. - Huaxi Nonferrous is projected to increase tin production by 66%, with profits potentially reaching 1.6 billion RMB [2][19]. Strategic Metal Valuation - The valuation of strategic metals like copper and silver is expected to rise due to increased global focus on these resources [13]. - Companies like Zijin Mining are projected to have significant profit potential based on current market conditions [13]. Other Important Insights - The overall performance of the non-ferrous metals market has been strong, with steel markets also showing positive trends influenced by the Guinea Simandou project [3]. - The importance of supply chain security and strategic resource management is emphasized, particularly in light of geopolitical tensions and trade restrictions [21][25]. - The recovery of tin and antimony supply chains is critical, with disruptions in Indonesia and Myanmar affecting global supply [19][20]. This summary encapsulates the key points discussed in the conference call, providing insights into market dynamics, company performance, and future trends in the non-ferrous metals industry.

智通财经APP讯， 铜陵有色(000630.SZ)发布公告，公司股票连续三个交易日内(2025年9月29日、2025年 9月30日、2025年10月9 日)日收盘价格涨跌幅偏离值累计达到+20%，根据《深圳证券交易所交易规则》 的相关规定，属于股票交易异常波动的情况。 近期，公司主产品中阴极铜和黄金的市场价格累计涨幅较大，铜精矿加工费低位运行。 公司、控股股东和实际控制人目前不存在关于公司的应披露而未披露的重大事项，或处于筹划阶段的重 大事项。 ...

Core Viewpoint - Multiple companies have announced significant collaborations, sales, and financial forecasts, indicating a dynamic market environment with potential investment opportunities and risks. Group 1: Collaborations and Agreements - Sairus's subsidiary signed a framework agreement with Volcano Engine to collaborate on intelligent robotics technology, focusing on the automotive industry's digital transformation [4] - Lichong Group entered a strategic cooperation agreement with Weijing Intelligent Technology to extend its business into humanoid robotics, enhancing the application of aluminum alloy materials in emerging industries [5][6] Group 2: Stock Transactions and Financial Impact - WuXi AppTec sold 30.3 million shares of WuXi AppTec, amounting to approximately HKD 2.346 billion, impacting its net profit by about RMB 4.351 billion for the fiscal year 2025 [7] - Zhonghuan Environmental Protection announced a change in its controlling shareholder, with a transfer price of RMB 598 million, leading to a resumption of stock trading [8] Group 3: Market Performance and Production Data - Wens Foodstuff reported sales of 3.3253 million pigs in September, generating revenue of RMB 4.975 billion, with a year-on-year price change of -15.16% for live pigs [16] - Muyuan Foods experienced a 22.46% decline in revenue from pig sales, totaling RMB 9.066 billion, with a significant drop in average sales price [17] - Qianli Technology reported a 976% increase in September's production of new energy vehicles, with total vehicle production rising by over 400% [18] Group 4: Profit Forecasts - Guangdong Mingzhu expects a net profit increase of 858.45% to 1071.44% for the first three quarters of 2025, with projected profits between RMB 215.18 million and RMB 262.99 million [19] - Great Material anticipates a net profit increase of approximately 213.92% for the same period, with revenues expected to reach around RMB 3.7 billion [20] - Kinglong Permanent Magnet forecasts a net profit growth of 157% to 179% for the first three quarters of 2025, with profits estimated between RMB 505 million and RMB 550 million [21] Group 5: Shareholding Changes - Huamao Logistics's controlling shareholder plans to increase its stake by RMB 64.5 million to RMB 129 million [24] - Weili announced that some directors and senior management intend to increase their holdings by RMB 6.5 million to RMB 13 million [25] - Qiaoyin Co. plans to reduce its shareholding by up to 6% [26] Group 6: Major Contracts and Bids - *ST Songfa's subsidiary signed contracts for six ultra-large crude oil tankers, with a total value of approximately USD 600 million to USD 900 million [33][34] - Shuangliang Energy won a bid for a project worth RMB 419 million, representing 3.21% of its audited revenue for 2024 [35] - Ningbo Construction's subsidiary won a bid for a construction project valued at RMB 1.41 billion [36]

Core Viewpoint - The copper sector has shown strong performance, with several companies experiencing significant stock price increases following a rise in global metal prices during the National Day holiday in China [1] Group 1: Market Performance - On October 8, LME copper reached a nearly one-year high of $10,815 per ton, with a cumulative increase of 4.21% during the holiday period [1] - Multiple copper-related stocks, including Tongling Nonferrous Metals, Northern Copper, Jiangxi Copper, and Yunnan Copper, hit the daily limit up [1] Group 2: Company Announcements - Luoyang Molybdenum stated that its production and operational activities are normal, with no significant fluctuations in production costs or sales [1] - Tongling Nonferrous Metals reported a substantial increase in market prices for its main products, including cathode copper and gold [1] - Jiangxi Copper, which has seen consecutive trading limits, also noted significant price increases for its main products, cathode copper and gold [1]

Core Viewpoint - Tongling Nonferrous Metals Group Co., Ltd. (000630.SZ) announced that its stock trading has experienced unusual fluctuations, but the company's production and operational conditions remain normal, with no significant changes in the internal operating environment [1] Group 1: Market Conditions - The market prices of the company's main products, including cathode copper and gold, have seen a significant cumulative increase recently [1] - The processing fees for copper concentrate are currently operating at low levels [1] Group 2: Future Outlook - There is uncertainty regarding whether the market prices of cathode copper, gold, and other products will continue to rise or maintain high levels in the future [1]