国城矿业股份有限公司（以下简称"公司"）第十一届监事会第二十九次会 议于 2025 年 12 月 15 日以现场与通讯表决相结合的方式在北京市丰台区南四环 西路 188 号 16 区 19 号楼 16 层会议室召开。经全体监事一致同意豁免提前发出 会议通知的期限要求，本次会议应参会监事 3 名，实际参会监事 3 名。会议由公 司监事会主席赵俊先生召集并主持，本次会议的召集、召开和表决程序均符合法 律法规、规范性文件及《公司章程》的有关规定，经与会监事认真审议，形成如 下决议： 审议通过《关于〈国城矿业股份有限公司重大资产购买暨关联交易报告书 （草案）（修订稿）〉及其摘要（修订稿）的议案》 根据《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露内 容与格式准则第 26 号——上市公司重大资产重组》《深圳证券交易所上市公司 重大资产重组审核规则》等法律、法规及规范性文件的规定和要求，以及深圳证 券交易所下发的《关于对国城矿业股份有限公司重大资产购买暨关联交易的问询 函》和公司回复情况，公司对《国城矿业股份有限公司重大资产购买暨关联交易 报告书（草案）》及其摘要进行了相应的修订和补充。 具体内容详见同日刊 ...

国城矿业股份有限公司 第十二届董事会第四十六次会议决议公告 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。 国城矿业股份有限公司（以下简称"公司"）第十二届董事会第四十六次会 议于 2025 年 12 月 15 日以现场与通讯表决相结合的方式在北京市丰台区南四环 西路 188 号 16 区 19 号楼 16 层会议室召开。经全体董事一致同意豁免提前发出 会议通知的期限要求，本次会议应出席会议董事 8 名，实际出席会议董事 8 名。 本次会议由董事长吴城先生主持，公司部分监事及高级管理人员列席本次会议。 本次会议的召集、召开和表决程序均符合法律法规、规范性文件及《公司章程》 的有关规定，会议经表决形成如下决议： 一、审议通过《关于〈国城矿业股份有限公司重大资产购买暨关联交易报 告书（草案）（修订稿）〉及其摘要（修订稿）的议案》 根据《上市公司重大资产重组管理办法》《公开发行证券的公司信息披露内 容与格式准则第 26 号——上市公司重大资产重组》《深圳证券交易所上市公司 重大资产重组审核规则》等法律、法规及规范性文件的规定和要求，以及深圳证 券交易所下发的《关于对 ...

Investment Rating - The industry rating is "Recommended" [3] Core Views - Short-term lithium prices are expected to remain volatile, with a positive outlook on antimony, cobalt, tungsten, and tin due to a reassessment of strategic metal values [1][2][7] - Supply concerns in the nickel market are supported by the lack of new approvals from Indonesia's RKAB, which may lead to price stabilization [1][28] - The cobalt market is expected to see continued price increases due to structural supply tightness, with Congo's export regulations impacting availability [2][5][16] - Antimony prices are anticipated to converge towards higher overseas prices due to export controls and tight domestic supply [6][17] - The lithium market is experiencing a strong demand backdrop, with expectations of continued inventory depletion supporting prices [7][17] - The rare earth market is tightening due to Vietnam's export ban, which is expected to support prices [9][18] - Tin prices are supported by ongoing supply concerns from overseas sources, particularly from Myanmar and Congo [11][20] - Tungsten prices are expected to remain supported due to supply constraints and regulatory controls [12][21] - The uranium market is facing supply tightness, which is likely to support prices amid geopolitical uncertainties [14][22] Summary by Sections Nickel and Cobalt Industry Update - Nickel prices are under pressure due to stable demand but cautious purchasing from smelters, with LME nickel closing at $14,420 per ton, down 2.04% [1][28] - Cobalt prices are expected to rise further, with Congo's export regulations causing supply constraints [2][5][16] Antimony Industry Update - Domestic antimony prices are lower compared to international prices, but supply tightness is expected to support future price increases [6][17] Lithium Industry Update - Lithium carbonate prices have increased, with a strong demand outlook from the electric vehicle sector [7][17] Rare Earth Industry Update - Vietnam's recent export ban on rare earths is expected to tighten global supply and support prices [9][18] Tin Industry Update - Tin prices are supported by supply concerns from Myanmar and Congo, with LME tin prices rising to $41,905 per ton [11][20] Tungsten Industry Update - Tungsten prices are expected to remain high due to supply constraints and regulatory measures [12][21] Uranium Industry Update - The uranium market is facing supply tightness, with prices supported by geopolitical factors and production delays [14][22]

Core Viewpoint - The A-share market saw a significant rise in non-ferrous metal stocks on December 12, with several companies experiencing gains of over 2% to 3% [1]. Group 1: Stock Performance - Xiyeg股份 (Ticker: 000960) increased by 3.49%, with a total market capitalization of 42.9 billion and a year-to-date increase of 89.59% [2]. - Guocheng Mining (Ticker: 000688) rose by 3.42%, with a market cap of 28.3 billion and a year-to-date increase of 103.45% [2]. - Chihong Zn & Ge (Ticker: 600497) saw a gain of 3.41%, with a market cap of 33.7 billion and a year-to-date increase of 23.51% [2]. - Western Mining (Ticker: 601168) increased by 3.00%, with a market cap of 61.3 billion and a year-to-date increase of 70.38% [2]. - Jincheng Mining (Ticker: 603979) rose by 2.87%, with a market cap of 43.2 billion and a year-to-date increase of 92.53% [2]. - Zhongjin Lingnan (Ticker: 000060) increased by 2.67%, with a market cap of 23.9 billion and a year-to-date increase of 17.24% [2]. - Zhongjin Gold (Ticker: 600489) rose by 2.66%, with a market cap of 108.5 billion and a year-to-date increase of 91.05% [2]. - Shangda Co. (Ticker: 301522) increased by 2.28%, with a market cap of 12.4 billion and a year-to-date decrease of 8.57% [2]. - Shanjin International (Ticker: 000975) rose by 2.03%, with a market cap of 67 billion and a year-to-date increase of 59.85% [2]. - Yun Aluminum (Ticker: 000807) increased by 2.01%, with a market cap of 95.2 billion and a year-to-date increase of 108.06% [2].

Group 1 - The A-share market saw a broad increase in non-ferrous metal stocks, with notable gains from companies such as Xiyeg股份, Guocheng Mining, and Chihong Zinc & Germanium, all rising over 3% [1] - Other companies including Jinchengxin, Zhongjin Lingnan, Zhongjin Gold, and Shanda股份 experienced increases of over 2% [1]

证券代码：000688 证券简称：国城矿业 公告编号：2025-120 国城矿业股份有限公司 关于对外担保的进展公告 本公司及董事会全体成员保证公告内容真实、准确和完整，不存在任何虚假记载、误 导性陈述或者重大遗漏。 一、担保情况概述 国城矿业股份有限公司（以下简称"公司"或"国城矿业"）分别于 2025 年 2 月 28 日、2025 年 3 月 17 日召开第十二届董事会第三十三次会议和 2025 年第 四次临时股东大会，审议通过了《关于 2025 年度对外担保额度预计的议案》， 同意公司及合并报表范围内子公司为公司及公司合并报表范围内子公司提供新 增总额合计不超过人民币 119,000 万元的担保额度，其中向资产负债率为 70%以 上（含）的下属子公司提供的担保额度不超过 60,000 万元，向资产负债率 70% 以下的下属子公司提供的担保额度不超过 59,000 万元。在不超过总担保额度的 前提下，公司及子公司之间的担保额度可根据实际情况调剂使用。调剂发生时， 对于资产负债率 70%以上的被担保方，仅能从资产负债率 70%以上的被担保方 获得担保额度。上述担保额度可循环使用，最终担保余额将不超过本次授 ...

Core Viewpoint - The silver sector is experiencing a strong performance, with several companies in the industry showing significant stock price increases. Company Summaries - **Shengda Resources (000603.SZ)**: Latest stock price is 30.37 CNY with a daily increase of +5.86%. It is a leading silver company controlling six mining subsidiaries, with high gross margins among listed companies [1]. - **Silver Industry (601212.SH)**: Latest stock price is 5.19 CNY with a daily increase of +4.43%. It operates a comprehensive production base for various non-ferrous metals [1]. - **Guocheng Mining (000688.SZ)**: Latest stock price is 23.58 CNY with a daily increase of +4.29%. The mines are located in Inner Mongolia, a major lead-zinc mining area [1]. - **Xingye Silver Tin (000426.SZ)**: Latest stock price is 35.27 CNY with a daily increase of +4.04%. Its subsidiary, Yinman Mining, is one of the largest silver-producing mines in China with high silver content [1]. - **Hunan Silver (002716.SZ)**: Latest stock price is 6.49 CNY with a daily increase of +3.84%. It is an important base for silver production and export in China, forming a complete industrial chain from "rich silver copper ore—silver—deep processing" [1]. - **Shanjin International (000975.SZ)**: Latest stock price is 22.29 CNY with a daily increase of +3.48%. Its subsidiary, Yulong Mining, is one of the largest single silver mines in China with high gross margins [1]. - **Zhuye Group (600961.SH)**: Latest stock price is 14.82 CNY with a daily increase of +2.70%. The main smelting products include silver [1]. - **Yuguang Gold Lead (600531.SH)**: Latest stock price is 11.17 CNY with a daily increase of +2.10%. It is a leading domestic silver producer, primarily engaged in the smelting and sales of silver and other non-ferrous metals, with silver ingots as the main product [2].

证券之星消息，12月10日工业金属板块较上一交易日上涨0.98%，盛达资源领涨。当日上证指数报收于 3900.5，下跌0.23%。深证成指报收于13316.42，上涨0.29%。工业金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 000603 | 盛达资源 | 30.37 | 5.86% | 40.01万 | 12.16 乙 | | 300337 | 银邦股份 | 13.69 | 5.15% | 129.52万 | 17.44亿 | | 601212 | 白银有色 | 5.19 | 4.43% | 220.47万 | 11.41亿 | | 000688 | 国城矿业 | 23.58 | 4.29% | 31.40万 | 7.37亿 | | 000426 | 兴银锡 | 35.27 | 4.04% | 73.89万 | 25.91亿 | | 603527 | 众源新材 | 11.21 | 2.94% | 24.59万 | 2.79亿 | | 002379 | 宏创控股 | ...

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。 | 证券代码：000688 | 证券简称：国城矿业 | 公告编号：2025-119 | | --- | --- | --- | | 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最后一个转股日的 重要提示性公告 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：2025年12月9日 4、赎回登记日：2025年12月11日 5、停止转股日：2025年12月12日 6、赎回日：2025年12月12日 7、赎回资金到账日（到达中登公司账户）：2025年12月17日 9、赎回类别：全部赎回 10、最后一个交易日可转债简称：Z城转债 11、根据安排，截至2025年12月11日收市后仍未转股的 ...

Group 1 - The lithium mining index increased by 2% during intraday trading, indicating a positive trend in the sector [1] - Most component stocks showed strong performance, with Shengxin Lithium Energy rising by 7.41%, Dazhong Mining by 5.46%, Yahua Group by 5.26%, Guocheng Mining by 4.73%, and Tianhua New Energy by 4.68% [1]