证券日报网讯国城矿业（000688）10月28日在互动平台回答投资者提问时表示，截至2025年10月20日收 盘，公司股东户数为26306户。 ...

Group 1 - The core viewpoint is that the performance of non-ferrous metal companies is closely linked to domestic and international economic conditions [1] - Company performance largely depends on the production and sales volume of main products, market prices, and the cost of non-ferrous metal mining and selection [1] - Global economic conditions, supply and demand in the non-ferrous metal market, production capacity, and inventory levels significantly impact the company's operational performance [1] Group 2 - The company aims to enhance existing mining capacity and diversify its resource reserves [1] - Efforts will be made to mitigate the impact of cyclical fluctuations in the non-ferrous metal industry [1]

Core Viewpoint - Guocheng Mining announced that the public consultation period for the "Integrated Plan for Geological Environment Protection and Land Reclamation" of the Jin Xin Mining Daba Lithium Mine project has concluded and has passed the review by the Ministry of Natural Resources in late September [1] Group 1 - The "Integrated Plan" has been officially publicized and is now in compliance with regulatory requirements [1] - Jin Xin Mining is currently preparing the necessary materials to submit an application for mining rights [1]

（记者 王晓波） 每经AI快讯，有投资者在投资者互动平台提问：请问公司在德阿园区的一起锂盐项目预期产能是6万吨/ 年吗？ 国城矿业（000688.SZ）10月28日在投资者互动平台表示，国城锂业20万吨/年锂盐项目一期工程的产能 规划是6万吨/年。 ...

Group 1 - The company has a total ore reserve of 9.9243 million tons and a gold metal quantity of 16.226 tons in its wholly-owned subsidiary Zhongdu Mining [1] - The company plans to actively promote resource expansion efforts in the future [1] - The sulfur concentrate produced by the company has a sulfur content grade of approximately 40% [1]

Core Viewpoint - The 5000 tons/day capacity upgrade project of Jinxin Mining has completed the main construction and is progressing towards production [1] Group 1 - Jinxin Mining's 5000 tons/day beneficiation plant project has completed the main engineering construction [1] - Guocheng Mining (000688.SZ) will assist Jinxin Mining in steadily advancing subsequent work based on actual progress [1] - The company aims to achieve the production target as soon as possible [1]

Group 1 - The public consultation period for the "two-in-one plan" of Jinxin Mining's Daba Lithium Mine project has concluded [1] - The plan passed the review by the Ministry of Natural Resources in late September [1] - Jinxin Mining is currently preparing the materials for the mining rights application as per the relevant requirements [1]

Investment Rating - Industry rating: Recommended [3] Core Insights - The report emphasizes the strategic revaluation of key metals, particularly focusing on rare earths and cobalt [24] - Nickel prices are expected to be supported due to tightened supply expectations following Indonesia's new regulation reducing the approval cycle for mining plans from three years to one year [26][27] - Cobalt prices have continued to rise, with expectations of increasing supply tightness further driving prices up [30][33] - Antimony supply is expected to remain tight, providing a bottom support for antimony prices [34] - Lithium carbonate prices are projected to remain strong due to ongoing demand and inventory depletion [16] - China's dominance in rare earth supply is reinforced by stricter export controls, which are expected to support rare earth prices [18] - Tin supply remains uncertain due to ongoing challenges in overseas supply, which is expected to support tin prices [19] - Tungsten prices are supported by a tightening supply situation, with production rates slowing down [20] - Uranium supply tightness is anticipated to continue, supporting uranium prices [21] Summary by Sections Nickel and Cobalt Industry Update - Indonesia's new regulation on mining approvals is expected to tighten future ore supply, supporting nickel prices [26] - As of October 24, LME nickel price was $15,085 per ton, up 1.04% from October 17 [26] - Cobalt prices have risen significantly, with electrolytic cobalt reaching 408,500 CNY per ton, a 6.94% increase [30] Antimony Industry Update - Domestic antimony prices have decreased, but long-term supply tightness is expected to support prices [34] - China's antimony production is projected to dominate global supply, accounting for 60% of the total [34] Lithium Industry Update - Lithium carbonate prices have increased, with a market average of 73,700 CNY per ton as of October 24 [16] - Demand from the battery sector continues to drive price support [16] Rare Earth Industry Update - China's strict export controls on rare earths are expected to tighten supply and support prices [18] - The report highlights the importance of China's role in the global rare earth supply chain [18] Tin Industry Update - Tin prices are supported by supply uncertainties, particularly from Myanmar and Indonesia [19] - As of October 24, LME tin price was $35,925 per ton, up 2.42% from October 17 [19] Tungsten Industry Update - The tungsten supply situation is tightening, with production rates slowing down [20] - Prices for tungsten concentrate have increased, reflecting supply constraints [20] Uranium Industry Update - The report indicates a continued tight supply situation for uranium, supporting price stability [21] - Recent production guidance reductions from major suppliers are expected to impact future supply [21]

Group 1 - The company has a total ore reserve of 9.9243 million tons and a gold metal content of 16.226 tons in its wholly-owned subsidiary, Zhongdu Mining [2] - The company is currently in the process of handling pre-construction procedures for a 350,000 tons/year mining expansion project [2]

Core Viewpoint - Guocheng Mining's stock price has shown volatility, with a year-to-date increase of 21.61% but a recent decline of 7.31% over the past five trading days, indicating potential market fluctuations and investor sentiment changes [2]. Company Overview - Guocheng Mining Co., Ltd. is located in Fengtai District, Beijing, and was established on November 10, 1978, with its stock listed on January 20, 1997. The company primarily engages in lead-zinc mining and related businesses [2]. - The revenue composition of Guocheng Mining includes: titanium dioxide (53.55%), zinc concentrate (21.05%), iron concentrate (8.37%), lead concentrate (4.38%), copper concentrate (3.87%), silver concentrate (2.92%), sulfuric acid (2.91%), sulfur concentrate (1.81%), others (1.04%), and sulfur iron powder (0.09%) [2]. Stock Performance - As of October 16, Guocheng Mining's stock price was 14.46 CNY per share, with a market capitalization of 16.273 billion CNY. The stock experienced a trading volume of 91.2848 million CNY and a turnover rate of 0.55% [1]. - The net outflow of main funds was 9.2851 million CNY, with significant selling pressure observed [1]. Financial Performance - For the period from January to June 2025, Guocheng Mining achieved a revenue of 1.085 billion CNY, representing a year-on-year growth of 39.74%. The net profit attributable to shareholders was 521 million CNY, showing a remarkable increase of 1111.34% [2]. Shareholder Information - As of September 19, the number of shareholders for Guocheng Mining was 25,800, a decrease of 2.35% from the previous period. The average circulating shares per person increased by 2.40% to 43,643 shares [2]. - The company has distributed a total of 235 million CNY in dividends since its A-share listing, with 59.2363 million CNY distributed over the past three years [3]. Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the eighth largest circulating shareholder, holding 6.641 million shares, a decrease of 571,200 shares compared to the previous period [3].