Group 1 - The core point of the article is that Guocheng Mining executed a block trade of 1.5 million shares on December 9, with a transaction value of 33.24 million yuan, representing 6.26% of the total trading volume for that day [1] - The transaction price was 22.16 yuan per share, which is a discount of 1.99% compared to the market closing price of 22.61 yuan [1] - The buyer of the shares was Xins Securities Co., Ltd., while the seller was Southwest Securities Co., Ltd. [2]

| 证券代码：000688 | 证券简称：国城矿业 | 公告编号：2025-118 | | --- | --- | --- | | 债券代码：127019 | 债券简称：国城转债 | | 国城矿业股份有限公司 关于提前赎回国城转债暨即将停止转股的重要 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、完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 最后转股日：2025年12月11日 2025年12月11日是"国城转债"最后一个转股日，当日收市前，持有"国城转 债"的投资者仍可进行转股；2025年12月11日收市后，未转股的"国城转债"将停 止转股。 公司特别提醒"国城转债"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： 1、"国城转债"赎回价格：100.82元/张（含当期应计利息，当期年利率为 2.00%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中登公司"）核准的价格为准。 2、赎回条件满足日：2025年11月19日 3、停止交易日：2025年12月9日 8、投资者赎回款到账日：2025 ...

特别提示： 1、"国城转债"赎回价格：100.82元/张（含当期应计利息，当期年利率为2.00%，且当期利息含税），扣 税后的赎回价格以中国证券登记结算有限责任公司深圳分公司（以下简称"中登公司"）核准的价格为 准。 登录新浪财经APP 搜索【信披】查看更多考评等级 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。 重要内容提示： 最后转股日：2025年12月11日 2025年12月11日是"国城转债"最后一个转股日，当日收市前，持有"国城转债"的投资者仍可进行转股； 2025年12月11日收市后，未转股的"国城转债"将停止转股。 公司特别提醒"国城转债"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。 11、根据安排，截至2025年12月11日收市后仍未转股的"国城转债"将被强制赎回。本次赎回完成 后，"国城转债"将在深圳证券交易所摘牌。投资者持有的"国城转债"存在被质押或冻结情形的，建议在 停止转股日前解除质押或冻结，以免出现因无法转股而被强制赎回的情形。 12、风险提示：本次"国城转债"赎回价格可能与其停止交易和停止转股前 ...

证券日报网讯 12月8日晚间，国城矿业发布公告称，根据安排，截至2025年12月11日收市后仍未转股 的"国城转债"将被强制赎回。本次赎回完成后，"国城转债"将在深圳证券交易所摘牌。投资者持有 的"国城转债"存在被质押或冻结情形的，建议在停止转股日前解除质押或冻结，以免出现因无法转股而 被强制赎回的情形。 （文章来源：证券日报） ...

Core Insights - The industrial metals sector experienced a 0.41% increase on December 8, with Yinbang Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3924.08, up 0.54%, while the Shenzhen Component Index closed at 13329.99, up 1.39% [1] Industrial Metals Sector Performance - The following companies saw notable price changes: - Luoping Zinc & Electricity (002114) closed at 9.12, down 2.88% with a trading volume of 480,700 shares [1] - Zhuzhou Smelter Group (600961) closed at 15.14, down 2.82% with a trading volume of 233,900 shares [1] - Hongchuang Holdings (002379) closed at 23.80, down 2.82% with a trading volume of 310,400 shares [1] - Huayu Mining (601020) closed at 28.50, down 2.73% with a trading volume of 458,800 shares [1] - Nanshan Aluminum (600219) closed at 5.22, down 2.06% with a trading volume of 3,258,900 shares [1] Capital Flow Analysis - The industrial metals sector saw a net inflow of 764 million yuan from institutional investors, while retail investors experienced a net outflow of 696 million yuan [1] - Key capital flows for selected companies include: - Yinbang Co., Ltd. (300337) had a net inflow of 358 million yuan from institutional investors, but a net outflow of 210 million yuan from retail investors [2] - Zijin Mining (601899) had a net inflow of 177 million yuan from institutional investors, with a net outflow of 26.98 million yuan from retail investors [2] - Northern Copper Industry (000737) had a net inflow of 113 million yuan from institutional investors, with a net outflow of 43.65 million yuan from retail investors [2]

关于提前赎回国城转债暨即将停止转股的重要 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、完整，没有虚 假记载、误导性陈述或重大遗漏。 | 证券代码：000688 | 证券简称：国城矿业 | 公告编号：2025-117 | | --- | --- | --- | | 债券代码：127019 | 债券简称：国城转债 | | 国城矿业股份有限公司 重要内容提示： 最后转股日：2025年12月11日 2025年12月11日是"国城转债"最后一个转股日，当日收市前，持有"国城转 债"的投资者仍可进行转股；2025年12月11日收市后，未转股的"国城转债"将停 止转股。 公司特别提醒"国城转债"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： 1、"国城转债"赎回价格：100.82元/张（含当期应计利息，当期年利率为 2.00%，且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公 司深圳分公司（以下简称"中登公司"）核准的价格为准。 2、赎回条件满足日：2025年11月19日 8、投资者赎回款到账日：2025年12月19日 1 3、停止交易日：2 ...

Core Viewpoint - The article discusses the recent activities of Duan Liping, the brother of the well-known investor Duan Yongping, highlighting his increasing presence in the capital market and investments in companies like Guocheng Mining, which has seen significant stock price increases due to favorable market conditions and strategic asset acquisitions [6][7][10]. Group 1: Duan Liping's Investment Activities - Duan Liping has been actively involved in the capital market, particularly with Guocheng Mining, which has experienced a stock price surge of approximately 127% from 13.63 CNY to a peak of 31.04 CNY per share [10]. - Guocheng Mining's recent announcements, including a major asset restructuring involving a 60% stake in Guocheng Industry, have contributed to its stock performance. The core asset is a significant molybdenum mine, which is crucial for various industries [10][11]. - As of the end of Q3 2025, Duan Liping holds a 0.56% stake in Guocheng Mining, ranking as the ninth largest circulating shareholder, alongside his spouse and another individual, collectively holding 1.64% of the company [12]. Group 2: Family Background and Business Connections - Duan Liping, born in 1957, has maintained a lower profile compared to his brother Duan Yongping, who has largely withdrawn from direct business involvement since moving to the U.S. in 2002 [15][16]. - Despite Duan Yongping's withdrawal, Duan Liping remains active in the business sector, holding positions in various companies related to the BuBuGao group, including Jiangsu BubuGao Real Estate and Guizhou BubuGao Liquor [21][22]. - The article highlights the familial ties and business collaborations between Duan Liping and other prominent figures in the industry, indicating a network of influence and shared interests within the BuBuGao ecosystem [19][21]. Group 3: Market Dynamics and Strategic Moves - The article notes that Duan Liping and his associates have strategically acquired control of LiYuan Co., a company facing operational challenges, for a relatively low price of 3.8 million CNY, indicating a calculated move to enter the automotive parts sector [22][23]. - The previous owners of LiYuan Co. were motivated to sell due to ongoing financial difficulties, including significant losses and legal issues, which made the sale a pragmatic decision [22][23]. - The acquisition reflects a broader trend in the market where established players are seeking opportunities in emerging sectors, such as the automotive industry, amidst changing economic conditions [23].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：000688 证券简称：国城矿业（维权） 公告编号：2025-116 债券代码：127019 债券简称：国城转债 国城矿业股份有限公司 关于国城转债即将停止交易暨赎回前最后一个 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、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、最后交易日：2025年12月8日 截至2025年12月5日收市后，距离"国城转债"停止转股并赎回仅剩1个交易日。2025年12月8日是"国城转 债"最后一个交易日，当日"国城转债"简称为"Z城转债"；2025年12月8日收市后"国城转债"将停止交 易。 公司特别提醒"国城转债"持有人务必认真阅读本公告，充分了解相关风险，注意最后交易时间，审慎作 出投资决策。 2、最后转股日：2025年12月11日 2025年12月11日是"国城转债"最后一个转股日，当日收市前，持有"国城转债"的投资者仍可进行转股； 2025年12月11日收市后，未转股的"国城转债"将停止转股。 特别提示： 1、"国城转债"赎回价格：100.82元/张（含当期应计利息， ...

证券日报网讯 12月7日晚间，国城矿业发布公告称，截至2025年12月5日收市后，距离"国城转债"停止 转股并赎回仅剩1个交易日。2025年12月8日是"国城转债"最后一个交易日，当日"国城转债"简称为"Z城 转债"；2025年12月8日收市后"国城转债"将停止交易。2025年12月11日是"国城转债"最后一个转股日， 当日收市前，持有"国城转债"的投资者仍可进行转股；2025年12月11日收市后，未转股的"国城转债"将 停止转股。 （文章来源：证券日报） ...

Investment Ratings - The report maintains a positive outlook on copper, aluminum, and rare earths, indicating high market activity and potential for growth [12][33][34]. Core Insights - Copper prices increased by 4.38% to $11,665.00 per ton on LME, with domestic prices rising by 6.12% to 92,800 yuan per ton, driven by supply constraints and high demand [1][13]. - Aluminum prices rose by 1.24% to $2,900.50 per ton on LME, with domestic prices up 3.4% to 22,300 yuan per ton, reflecting stable demand despite seasonal fluctuations [2][14]. - Gold prices decreased by 0.87% to $4,227.7 per ounce, influenced by geopolitical risks and market volatility, while SPDR gold holdings increased [3][15]. - Rare earth prices, particularly praseodymium-neodymium oxide, rose by 2.79%, with expectations of increased demand due to supply constraints and favorable export conditions [4][34]. - Antimony prices decreased by 1.79%, but the outlook remains positive due to anticipated recovery in exports [4][35]. - Tin prices increased by 4.70%, supported by low inventory levels and supply disruptions in Indonesia and Myanmar [4][36]. Summary by Sections Copper - LME copper price increased by 4.38% to $11,665.00 per ton, with domestic prices at 92,800 yuan per ton [1][13]. - Supply constraints are evident with a decrease in copper inventory and processing fees [1][13]. - Downstream demand is weakening due to high prices, leading to a decline in new orders [1][13]. Aluminum - LME aluminum price rose by 1.24% to $2,900.50 per ton, with domestic prices at 22,300 yuan per ton [2][14]. - Inventory levels remain stable, but processing rates have decreased slightly [2][14]. - Demand is cautious due to high prices affecting transaction volumes [2][14]. Precious Metals - Gold prices fell by 0.87% to $4,227.7 per ounce, with geopolitical factors influencing market dynamics [3][15]. - SPDR gold holdings increased, indicating a slight uptick in investor interest [3][15]. Rare Earths - Praseodymium-neodymium oxide prices increased by 2.79%, with expectations of higher demand due to supply constraints [4][34]. - Export conditions are improving, contributing to a positive outlook for the sector [4][34]. Antimony - Antimony prices decreased by 1.79%, but the long-term outlook remains optimistic due to potential export recovery [4][35]. Tin - Tin prices increased by 4.70%, driven by low inventory levels and supply disruptions [4][36].