Group 1 - The company, Tongling Nonferrous Metals Group Co., Ltd., will hold an online performance briefing for the year 2024 on May 12, 2025, at 15:00 [1][2] - The briefing will cover the company's operating performance, financial status, and strategic planning, allowing for interactive communication with investors [1] - The company encourages investors to submit questions in advance via email by May 9, 2025, to ensure a comprehensive discussion during the briefing [3] Group 2 - Key participants in the briefing will include General Manager Liang Hongliu, Secretary of the Board and Chief Accountant Yao Bing, and Independent Director Yao Lushi [2] - Investors can participate through the Shenzhen Stock Exchange's "Interactive Easy" platform [3] - Contact information for the event includes representatives Wang Xiao and Zhang Ning, with provided phone numbers and email addresses for inquiries [4]

Core Viewpoint - The non-ferrous metal industry is experiencing significant growth driven by rising metal prices, with several leading companies reporting strong performance in 2024 and maintaining rapid growth in the first quarter of the year [1][2]. Group 1: Company Performance - Zijin Mining reported a revenue of approximately 303.64 billion yuan in 2024, a year-on-year increase of 3.49%, and a net profit attributable to shareholders of about 32.05 billion yuan, up 51.76% [2]. - In the first quarter of 2024, Zijin Mining achieved a revenue of 78.93 billion yuan, a 5.55% increase year-on-year, and a net profit of 10.17 billion yuan, reflecting a 62.39% growth [2]. - China Aluminum's revenue for 2024 reached 237.07 billion yuan, a 5.21% increase, with a net profit of 12.4 billion yuan, up 85.38% [2]. - In the first quarter of 2024, China Aluminum's revenue was 55.78 billion yuan, a 13.95% increase, and the net profit was 3.54 billion yuan, up 58.78% [2]. - Luoyang Molybdenum achieved a revenue of 213.03 billion yuan in 2024, a 14.37% increase, with a net profit of 13.53 billion yuan, up 64.03% [4]. - In the first quarter of 2025, Luoyang Molybdenum's revenue was 46.01 billion yuan, a slight decrease of 0.25%, while the net profit increased by 90.47% to 3.95 billion yuan [4]. Group 2: Industry Trends - The non-ferrous metal industry is benefiting from high prices of metals like gold and copper, leading to sustained high growth in revenues and profits for major companies [2][5]. - The market outlook for gold remains positive in the medium to long term, despite recent fluctuations, with expectations of a strong performance driven by inflation and weakening dollar credit [6][7]. - The copper market is expected to face a supply shortage in the medium term, with demand from sectors like home appliances and electric vehicles driving prices upward [7]. - The aluminum market is anticipated to improve, with a potential rise in prices due to recovering profits from electrolytic aluminum and increasing demand [7].

证券代码：000630 证券简称：铜陵有色 公告编号：2025－033 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 关于召开 2024 年度网上业绩说明会的 通知公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 铜陵有色金属集团股份有限公司（以下简称"公司"）已于 2025 年 4 月 23 日在巨潮资讯网（http://www.cninfo.com.cn/）披露公司 2024 年年 度报告，并定于 2025 年 5 月 12 日下午 15:00 召开 2024 年度业绩说明会。 一、说明会类型 本次业绩说明会以网络方式召开，公司将针对 2024 年度的经营业绩、 财务状况、战略规划等相关情况与投资者进行互动交流和沟通，在信息披 露允许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 召开时间：2025 年 5 月 12 日（星期一）15:00-17:00 召开方式：网络 三、参加人员 公司参会人员：总经理梁洪流先生，董事会秘书、总会计师姚兵先生， 独立董事姚禄仕先生等相关人员。 四、投资者参加方式 （ ...

证券代码：000630 证券简称：铜陵有色 公告编号：2025－032 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 十届十二次监事会会议决议公告 本公司及监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、误导性陈述或者重大遗漏。 一、监事会会议召开情况 铜陵有色金属集团股份有限公司（以下简称"公司"）十届十二次监事会于 2025 年 4 月 28 日在安徽省铜陵市铜陵有色展示馆二楼会议室召开，会议通知于 2025 年 4 月 24 日以电子邮件及专人送达的方式发出。会议由监事李新先生主持，应出席 会议监事 6 人，出席现场会议监事 4 人，委托出席监事 1 人（监事会主席蒋培进先生 因公出差，书面委托李新先生代为出席并行使表决权），1 名监事以通讯方式表决。 会议符合《公司法》和《公司章程》的规定。 二、监事会会议审议情况 经与会监事认真审议，会议审议通过了《公司 2025 年第一季度报告》。 详细内容见公司同日披露在巨潮资讯网上的《2025 年第一季度报告》。 监事会对公司 2025 年第一季度报告的内容和编制审议程序进行了全面审核，发 表意见如下： 经审核 ...

铜陵有色金属集团股份有限公司监事会 关于公司编制的 2025 年第一季度报告书面审核意见 根据《证券法》及《深圳证券交易所上市公司自律监管指引第 1 号——主板上市 公司规范运作》相关法律法规的要求，作为铜陵有色金属集团股份有限公司(以下简 称"公司")的监事会成员，本着实事求是的原则，对公司 2025 年第一季度报告进行 了认真负责的核查，我们认为：经审核，监事会认为董事会编制和审议公司 2025 年 第一季度报告的程序符合法律、行政法规、中国证监会及深圳证券交易所的规定，报 告内容真实、准确、完整地反映了上市公司的实际情况，不存在任何虚假记载、误导 性陈述或者重大遗漏。对公司 2025 年第一季度报告有关事项的审核意见如下： 1、公司依法运作情况 公司严格按照《公司法》和公司章程以及国家有关法律法规进行规范运作。公司 各项重大经营与投资决策的制定与实施，股东大会、董事会的通知、召开、表决等均 符合法定程序，并建立了一套较为完善的内部控制制度。认为：报告期内，公司严格 按照《公司法》《证券法》和《公司章程》依法规范运作，无任何违反法律、法规的 行为。公司董事及经理层等高级管理人员在执行公司职务时未发现有违反 ...

证券代码：000630 证券简称：铜陵有色 公告编号：2025－031 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 十届二十次董事会会议决议公告 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。 一、董事会会议召开情况 铜陵有色金属集团股份有限公司（以下简称"公司"）十届二十次董事 会会议于2025年4月28日在安徽省铜陵市长江西路铜陵有色展示馆二楼会议 室召开，会议以现场结合通讯表决方式召开。会前公司董事会秘书室于2025 年4月24日以电子邮件及专人送达的方式通知了全体董事。应出席会议董事8 人，出席现场会议董事4人，4名独立董事以通讯方式表决。公司监事会成员 及高管人员列席了会议，公司董事长龚华东主持会议。会议符合《公司法》 和《公司章程》的有关规定，形成的决议合法、有效。 二、董事会会议审议情况 经与会董事认真审议，会议通过了以下事项： 审议通过了《公司 2025 年第一季度报告》。 详细内容见公司同日披露在巨潮资讯网上的《2025 年第一季度报告》。 表决结果：8 票同意；0 票反对；0 票弃权。 三、备查文件 （一） ...

铜陵有色金属集团股份有限公司 2025 年第二次独立董事专门会议审查意见 根据《上市公司独立董事管理办法》《深圳证券交易所上市公司自律监管指引 第 1 号——主板上市公司规范运作》等相关法律、法规及《公司章程》的有关规 定，铜陵有色金属集团股份有限公司（以下简称"公司"）于 2025 年 4 月 27 日召 开 2025 年第二次独立董事专门会议，本次会议应参加的独立董事四名，实际参加 的独立董事四名。全体独立董事本着客观公正的立场，就公司十届二十次董事会 会议相关审议事项发表审查意见如下： 关于公司 2025 年第一季度发生的金融衍生品交易事项 期货保值方面： 为了确保公司金融衍生品交易业务的正常开展，公司在内控制度中制订并完 善了《境外期货交易风险控制的管理规定》《期货交易管理制度》，制度中对期货 财务结算、保证金管理、实物交割货款的回收及管理和实物异地库存的管理等方 面工作均作出明确规定。公司利用衍生金融工具通过套期保值锁定固有利润，规 避和减少由于价格大幅波动带来的生产经营风险。 公司采取的风险控制措施有： 严格控制衍生金融交易的规模，套期保值量控制在年度自产铜精矿对应的产 品数量的一定比例。合理计划 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥35,222,182,663.23, representing a 7.65% increase compared to ¥32,720,083,664.56 in the same period last year[6]. - Net profit attributable to shareholders was ¥1,128,857,570.60, up 2.93% from ¥1,096,690,756.19 year-on-year[6]. - Total operating revenue for the current period reached ¥35,222,182,663.23, an increase of 4.6% compared to ¥32,720,083,664.56 in the previous period[23]. - Operating profit for the current period was ¥1,850,273,960.98, slightly higher than ¥1,796,856,709.27 from the previous period, indicating a growth of 3.0%[23]. - Net profit for the current period was ¥1,341,880,044.94, a decrease of 2.1% from ¥1,371,320,946.17 in the previous period[23]. - The net profit attributable to the parent company was CNY 1,128,857,570.60, an increase from CNY 1,096,690,756.19 in the previous period, reflecting a growth of approximately 2.4%[24]. - The total comprehensive income attributable to the parent company was CNY 893,899,961.60, down from CNY 1,143,867,968.08, indicating a decrease of about 22%[24]. Cash Flow - The net cash flow from operating activities increased by 25.59%, reaching ¥1,543,499,543.66 compared to ¥1,229,008,591.82 in the previous year[6]. - The net cash flow from operating activities was CNY 1,543,499,543.66, compared to CNY 1,229,008,591.82 in the previous period, representing an increase of approximately 25.5%[25]. - The company reported cash inflows from operating activities totaling CNY 38,017,299,060.77, an increase from CNY 36,371,891,477.36 in the previous period, reflecting a growth of approximately 4.5%[25]. - The cash outflows from investing activities were CNY 1,041,339,273.23, compared to CNY 1,542,255,194.57 in the previous period, indicating a decrease of about 32.5%[25]. - The net cash flow from financing activities was CNY 1,176,277,794.83, a significant improvement from a negative cash flow of CNY 34,080,248.61 in the previous period[26]. - The company received CNY 5,186,396,288.25 in cash from borrowings, an increase from CNY 4,478,102,112.82 in the previous period, reflecting a growth of approximately 15.8%[26]. Assets and Liabilities - Total assets at the end of Q1 2025 amounted to ¥86,001,161,805.65, a 6.25% increase from ¥80,944,491,696.95 at the end of the previous year[6]. - Total assets increased to ¥86,001,161,805.65 from ¥80,944,491,696.95, representing a growth of 6.4%[21]. - Total liabilities rose to ¥42,555,550,162.57, compared to ¥38,687,741,657.58, marking an increase of 4.8%[21]. - The company's total liabilities increased, with accounts payable rising by 33.31% to ¥9,111,229,285.80, reflecting higher raw material payments[10]. - The company reported a significant increase in contract liabilities, which rose by 101.88% to ¥877,548,485.02, indicating a rise in advance payments received[10]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 291,211[13]. - The largest shareholder, Tongling Nonferrous Metals Group Holdings Co., Ltd., holds 47.77% of shares, totaling 6,112,133,557 shares[13]. - The top ten shareholders do not have any related party relationships or act in concert with each other[14]. - The company has a total of 3,845,746,464 unrestricted shares held by its largest shareholder[14]. - The company’s stockholder Huang Weiqin holds 50,900,000 shares, representing 0.40% of the total shares[14]. Earnings Per Share - The company's basic and diluted earnings per share remained unchanged at ¥0.09[6]. - The basic and diluted earnings per share remained stable at CNY 0.09, unchanged from the previous period[24]. Research and Development - Research and development expenses decreased to ¥132,162,605.16 from ¥157,098,249.53, a decline of 15.9%[23]. Convertible Bonds - The company issued 2,140,476,679 shares and 3,336,626 convertible bonds to acquire related assets, with a fundraising limit of 2,146 million yuan[16]. - The company plans to initiate the conversion period for the "Tongling Ding 02" convertible bonds from March 27, 2024, to September 20, 2029[17]. - As of March 31, 2025, the remaining number of "Tongling Ding 02" convertible bonds is 21,419,990, with a remaining amount of 2,141,999,000 yuan[17]. - The company has issued a total of 21,460,000 convertible bonds, which were registered on October 23, 2023[16].

Investment Rating - The report maintains a "Recommended" investment rating for the gold, copper, aluminum, tin, and antimony industries [9]. Core Views - The report highlights a positive outlook for copper and aluminum prices due to improving downstream demand and inventory depletion [5][7]. - Gold prices are expected to maintain an upward trend supported by the ongoing interest rate cut cycle by the Federal Reserve [9]. - The tin market is anticipated to experience weak price movements due to a lack of short-term catalysts [9]. - Antimony prices are expected to remain weak in the short term, but long-term supply-demand dynamics may support prices [9]. Summary by Sections Market Performance - The non-ferrous metals sector showed a weekly increase of 2.04%, outperforming other sectors [19]. - The top-performing sub-sectors included tungsten (+4.50%), nickel (+3.79%), and aluminum (+3.78%) [19]. Copper Market - LME copper closed at $9,415 per ton, up $283 per ton (3.10%) from April 17 [5]. - SHFE copper closed at ¥77,650 per ton, up ¥1,780 per ton (2.34%) from April 17 [5]. - Domestic copper social inventory decreased significantly, indicating strong demand [6]. Aluminum Market - Domestic electrolytic aluminum prices reached ¥20,100 per ton, an increase of ¥210 per ton (1.06%) [7]. - LME aluminum inventory decreased by 12,575 tons, while domestic SHFE inventory also saw a decline [7]. - The operating rate for leading aluminum profile enterprises increased to 59.5% [8]. Tin Market - Domestic refined tin prices rose to ¥263,180 per ton, up ¥6,800 per ton (2.65%) [9]. - The market is expected to remain weak due to insufficient demand catalysts [9]. Antimony Market - Domestic antimony ingot prices fell to ¥235,500 per ton, down ¥8,000 per ton [9]. - The market activity is low, with cautious purchasing behavior from downstream buyers [9]. Recommended Stocks - The report recommends specific stocks in the gold, copper, aluminum, tin, and antimony sectors, including Zhongjin Gold, Zijin Mining, and Huaxi Youshi [10][12][13].

Group 1 - The company reported a revenue of 145.53 billion yuan for 2024, a year-on-year increase of 5.88%, and a net profit attributable to shareholders of 2.81 billion yuan, up 4.05% year-on-year [1] - In Q4 2024, the company achieved a revenue of 39.22 billion yuan, a year-on-year increase of 12.52%, but the net profit attributable to shareholders dropped to 79 million yuan, a decline of 36.12% year-on-year [1] - The Mirador copper mine's production was affected by power supply issues due to drought in Ecuador, leading to 28 days of complete shutdown and 26 days of reduced production [1] Group 2 - The copper smelting processing fees have significantly decreased in 2024, putting pressure on the profitability of smelting operations, with a gross margin of 7.09%, down 0.17 percentage points year-on-year [2] - The company's smelting plants reported a net profit of 331 million yuan in H2 2024, a decrease of 134 million yuan compared to H1 2024 [2] Group 3 - The company plans to produce 194,900 tons of copper concentrate in 2025, an increase from 155,200 tons in 2024, despite a decline in 2024 production [3] - In 2024, the company produced 1.768 million tons of cathode copper and plans to increase this to 1.896 million tons in 2025 [3] Group 4 - The forecast for net profit attributable to shareholders for 2025-2027 is 2.878 billion yuan, 3.848 billion yuan, and 4.418 billion yuan, representing year-on-year growth of 2.47%, 33.72%, and 14.80% respectively [4] - The current stock price corresponds to a PE ratio of 14.0, 10.5, and 9.2 for the years 2025, 2026, and 2027 respectively, maintaining a "buy" rating [4]