证券代码：000878 证券简称：云南铜业 公告编号：2025-088 云南铜业股份有限公司 关于对云铜香港有限公司增资暨关联交易 的公告 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。 2025 年 11 月 13 日，公司第十届董事会第七次会议审议 通过了《云南铜业股份有限公司关于对云铜香港有限公司增 资暨关联交易的预案》。 公司董事孔德颂先生、姜敢闯先生、罗德才先生和柴正 龙先生为关联董事，回避该议案的表决，其他非关联董事一 致同意该议案； 2.独立董事审议情况 一、关联交易概述 （一）本次关联交易概述 云铜香港有限公司（以下简称云铜香港）为云南铜业股 份有限公司（以下简称云南铜业或公司）控制并合并报表子 公司，云南铜业和中国铜业有限公司（以下简称中国铜业） 分别持有云铜香港 50%股权。 为增强云铜香港的资本实力，优化资产负债结构，促进 其业务发展，提升云铜香港综合竞争力及抗风险能力，云南 铜业与中国铜业拟对云铜香港以现金方式同比例分别增资 3.35 亿元人民币，合计增资 6.7 亿元人民币，增资额全部计 入注册资本。增资完成后，云铜香港注册资本由 4 ...

证券代码：000878 证券简称：云南铜业 公告编号：2025-089 云南铜业股份有限公司 关于对中铜国际贸易集团有限公司增资暨 关联交易的公告 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。 一、关联交易概述 （一）本次关联交易概述 中铜国际贸易集团有限公司（以下简称中铜国贸）为云 南铜业股份有限公司（以下简称云南铜业或公司）控制并合 并报表子公司，云南铜业和中国铜业有限公司（以下简称中 国铜业）分别持有中铜国贸 50%股权。 为增强中铜国贸的资本实力，优化资产负债结构，促进 其业务发展，提升中铜国贸综合竞争力及抗风险能力，云南 铜业与中国铜业拟对中铜国贸以现金方式同比例分别增资 3.2 亿元人民币，合计增资 6.4 亿元人民币，增资额全部计入 注册资本。增资完成后，中铜国贸注册资本由 6 亿元增至 12.4 亿元人民币，股东双方出资比例保持不变。 （二）关联关系描述 由于中国铜业为公司的间接控股股东，根据《深圳证券 交易所股票上市规则》相关规定，本次增资构成关联交易暨 关联方共同投资。 （三）有关审议程序 1.董事会表决情况和关联董事回避情况 2025 ...

证券代码：000878 证券简称：云南铜业 公告编号：2025-091 云南铜业股份有限公司 关于变更证券事务代表的公告 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。 云南铜业股份有限公司（以下简称云南铜业或公司）于 2025 年 11 月 13 日召开第十届董事会第七次会议，审议通过 了《云南铜业股份有限公司关于孙萍女士辞去公司证券事务 代表的议案》和《云南铜业股份有限公司关于聘任刘八妹女 士为公司证券事务代表的议案》。 圳证券交易所股票上市规则》《公司章程》及《公司董事会 议事规则》所规定的不得担任证券事务代表的情形，目前尚 未取得董事会秘书资格证书，但已书面承诺参加最近一期董 事会秘书资格培训，并尽快取得董事会秘书资格证书。 刘八妹女士联系方式如下： 办公电话：0871-63106735，0871-63106737 传真：0871-63106792 通讯地址：云南省昆明市盘龙区华云路 1 号中铜大厦 邮 编：650224 电子邮件：3377381083@qq.com 因工作调整，孙萍女士不再担任公司证券事务代表，但 仍在公司担任其他职务。孙萍女士自 2 ...

Investment Rating - The report indicates a positive outlook for the non-ferrous metals industry, with a focus on ESG performance management among central enterprises [3][4]. Core Insights - The report evaluates 18 central enterprises in the non-ferrous metals sector based on an established ESG rating system, highlighting that 11 companies scored over 100 points, reflecting a systematic approach to ESG management [4][12]. - Environmental management is prioritized, with comprehensive disclosure on pollution control, waste management, and energy utilization, although there is room for improvement in areas like green mining and circular economy indicators [4][24]. - The report emphasizes the importance of climate-related governance, with many companies actively addressing climate change and setting reduction targets, though mechanisms for information acquisition need enhancement [4][42]. - Social responsibility is a key focus, with all companies covering social indicators, but there is a noted deficiency in disclosures related to technology ethics [4][61]. - Governance structures are generally robust, but there is a need for improvement in due diligence practices, particularly concerning compliance checks of supply chain partners [4][75]. Summary by Sections 1. Overall Scores and ESG Governance - The overall ESG scores for the 18 central enterprises are high, with 61.1% scoring above 100 points, indicating a well-established ESG management framework [12]. 2. Importance Assessment: Need for Third-Party Verification - All companies disclosed financial and impact importance assessments, but only 11% provided third-party verification, indicating a gap in independent validation [16][17]. 3. Environmental: Mature Disclosure, Comprehensive Management - Environmental indicators show high scores, with 67% of companies achieving full marks, reflecting strong environmental protection awareness [24][27]. 4. Climate: Accelerating Disclosure Framework - 67% of companies received full scores for climate-related disclosures, demonstrating a high level of commitment to addressing climate change [42][49]. 5. Social: Commitment to Social and Management Responsibilities - Social responsibility indicators are fully covered by all companies, but technology ethics disclosures are lacking [61][64]. 6. Governance: Well-Structured, Need for Enhanced Due Diligence - Governance structures are generally well-defined, with high coverage of governance mechanisms, but due diligence practices require further development [75][76].

证券日报网讯云南铜业11月7日在互动平台回答投资者提问时表示，截至2025年10月31日，公司股东人 数为202565户。 （文章来源：证券日报） ...

Core Viewpoint - Yunnan Copper's stock price has shown significant fluctuations, with a year-to-date increase of 44.35%, but a recent decline over the past five and twenty trading days [1][2] Company Overview - Yunnan Copper Co., Ltd. is located in Kunming, Yunnan Province, and was established on May 15, 1998, with its listing date on June 2, 1998 [1] - The company primarily engages in copper exploration, mining, smelting, precious and rare metal extraction and processing, sulfur chemical industry, and trading [1] - The revenue composition includes cathode copper (74.00%), other products (12.42%), precious metals (12.24%), and sulfuric acid (1.33%) [1] Financial Performance - For the period from January to September 2025, Yunnan Copper achieved a revenue of 137.743 billion yuan, representing a year-on-year growth of 6.73%, and a net profit attributable to shareholders of 1.551 billion yuan, up by 1.91% [2] - The company has distributed a total of 4.019 billion yuan in dividends since its A-share listing, with 1.944 billion yuan distributed over the past three years [3] Shareholder Information - As of October 20, 2025, the number of shareholders for Yunnan Copper reached 198,700, an increase of 18.67% from the previous period, while the average circulating shares per person decreased by 15.73% to 10,082 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 42.9042 million shares, an increase of 9.8413 million shares from the previous period [3]

Core Points - The Shenzhen State-Owned Enterprises Shareholder Return Index (470064) closed at 2257.45 points, down 0.32%, with a trading volume of 24.053 billion yuan and a turnover rate of 0.97% [1] - Among the index constituents, 27 stocks rose while 22 stocks fell, with Beixin Building Materials leading the gainers at 2.45% and Yun Aluminum leading the decliners at 3.0% [1] Index Constituents Summary - The top ten constituents of the Shenzhen State-Owned Enterprises Shareholder Return Index include: - BOE Technology Group (9.31% weight, latest price 4.00 yuan, market cap 149.656 billion yuan) in the electronics sector - Hikvision (7.97% weight, latest price 31.50 yuan, market cap 288.693 billion yuan) in the computer sector - Wuliangye Yibin (7.71% weight, latest price 116.18 yuan, market cap 450.965 billion yuan) in the food and beverage sector - Luzhou Laojiao (6.59% weight, latest price 132.17 yuan, market cap 194.548 billion yuan) in the food and beverage sector - Xugong Machinery (5.75% weight, latest price 10.79 yuan, market cap 126.815 billion yuan) in the machinery equipment sector - Changan Automobile (3.88% weight, latest price 12.28 yuan, market cap 121.745 billion yuan) in the automotive sector - Shenwan Hongyuan (3.84% weight, latest price 5.45 yuan, market cap 136.468 billion yuan) in the non-banking financial sector - Yun Aluminum (3.81% weight, latest price 22.96 yuan, market cap 79.624 billion yuan) in the non-ferrous metals sector - Yanghe Brewery (3.37% weight, latest price 69.81 yuan, market cap 105.165 billion yuan) in the food and beverage sector - Tongling Nonferrous Metals (3.18% weight, latest price 5.11 yuan, market cap 68.522 billion yuan) in the non-ferrous metals sector [1] Capital Flow Summary - The net outflow of main funds from the index constituents totaled 1.125 billion yuan, while speculative funds saw a net inflow of 243 million yuan and retail investors saw a net inflow of 882 million yuan [3] - Detailed capital flow for selected stocks includes: - Tongling Nonferrous Metals: main net inflow of 88.024 million yuan, speculative net outflow of 53.924 million yuan, retail net outflow of 34.100 million yuan - Luzhou Laojiao: main net inflow of 57.790 million yuan, speculative net outflow of 22.566 million yuan, retail net outflow of 35.224 million yuan - Beixin Building Materials: main net inflow of 56.578 million yuan, speculative net outflow of 24.593 million yuan, retail net outflow of 31.985 million yuan [3]

Core Viewpoint - Yunnan Copper experienced a decline of 2.01% in stock price on November 4, 2023, with a current price of 17.02 CNY per share and a total market capitalization of 34.102 billion CNY [1] Financial Performance - For the period from January to September 2025, Yunnan Copper reported a revenue of 137.743 billion CNY, reflecting a year-on-year growth of 6.73% [2] - The net profit attributable to shareholders for the same period was 1.551 billion CNY, showing a year-on-year increase of 1.91% [2] Stock Market Activity - As of November 4, 2023, Yunnan Copper's stock has increased by 42.43% year-to-date, but has seen a decline of 3.24% over the last five trading days [1] - The stock has been on the "龙虎榜" (a list of stocks with significant trading activity) once this year, with the last appearance on October 10 [1] Shareholder Information - As of October 20, 2025, the number of shareholders for Yunnan Copper reached 198,700, an increase of 18.67% from the previous period [2] - The average number of circulating shares per shareholder decreased by 15.73% to 10,082 shares [2] Dividend Distribution - Yunnan Copper has distributed a total of 4.019 billion CNY in dividends since its A-share listing, with 1.944 billion CNY distributed over the last three years [3] Major Shareholders - As of September 30, 2025, Hong Kong Central Clearing Limited is the third-largest circulating shareholder, holding 42.9042 million shares, an increase of 9.8413 million shares from the previous period [3] - Southern CSI 500 ETF is the sixth-largest circulating shareholder, holding 20.4226 million shares, a decrease of 340,300 shares from the previous period [3] - Southern CSI Shenwan Nonferrous Metals ETF has entered as the ninth-largest circulating shareholder, holding 11.4201 million shares [3]

Financial Performance - In Q3 2025, the company reported a revenue of CNY 48.83 billion, a year-on-year increase of 11.52%, while the net profit attributable to shareholders was CNY 235 million, a significant decline of 49.36% [7] - For the first three quarters of 2025, the company achieved a revenue of CNY 137.743 billion, representing a year-on-year growth of 6.73%, and a net profit of CNY 1.551 billion, up by 1.91% [7] Inventory and Production - The company holds over CNY 20 billion in inventory, which includes raw materials, work-in-progress, and finished goods necessary for continuous production [2] - The copper smelting process is continuous, leading to a significant amount of materials being in processing status, contributing to the inventory [2] Challenges and Strategic Responses - The decline in net profit is attributed to persistently low copper smelting processing fees, which have pressured the industry [3][10] - The company is implementing a "Cost Reduction 3.0" strategy to enhance operational efficiency, focusing on reducing costs and increasing the profitability of by-products such as sulfuric acid, selenium, tellurium, platinum, palladium, and rhenium [3][10] Resource Acquisition and Development - The company is actively investing in geological research and exploration to ensure resource replacement and increase reserves, with a focus on acquiring a 40% stake in Liangshan Mining [9] - The company has successfully increased its annual reserve volume for four consecutive years, exceeding the consumption of existing mines [5] Market Position and Future Outlook - The company acknowledges concerns regarding its copper reserves and stock price compared to local state-owned enterprises, emphasizing its commitment to high-quality development and resource acquisition [3] - Despite current challenges, the management remains confident in the company's long-term development and is focused on enhancing competitiveness and profitability [3][10]

Core Viewpoint - Yunnan Copper Industry Co., Ltd. is focusing on high-quality development under the guidance of the "14th Five-Year Plan," achieving dual improvements in scale and efficiency through capacity upgrades, technological innovation, green transformation, and deepening reforms, laying a solid foundation for becoming a world-class copper company during the "15th Five-Year Plan" period [1] Capacity Upgrade - During the "14th Five-Year Plan," Yunnan Copper achieved a historic leap in production capacity, with refined copper capacity expected to reach 1.6 million tons by the end of 2024 [2] - The company has seen continuous revenue growth, with operating income exceeding 100 billion yuan for five consecutive years, reaching 137.7 billion yuan in the first three quarters of 2025, a 56% increase from 2020 [2] - Total assets reached 54.36 billion yuan, a 36% increase from 2020, and net profit attributable to shareholders was 1.551 billion yuan, up 308% [2] - Cost control measures have been effective, with mining C3 costs ranking in the top 25% globally and copper processing costs in the top 25% of the industry [2] Industry Layout Optimization - The company plans to invest over 10 billion yuan during the "14th Five-Year Plan," with projects like the relocation of Southwest Copper and the enhancement of Southeast Copper expected to be completed [4] - New copper metal resources have been significantly increased through exploration, providing ample resource support for future development [4] Technological Innovation - Yunnan Copper is committed to innovation, with increasing R&D investment and breakthroughs in key technologies such as 5N rhenium and high-purity copper, forming an internationally leading technology system [5] - The company has established one national-level innovation platform and 11 provincial-level platforms, with a patent application intensity of 26 per hundred people per year [5] - The establishment of research centers for low-grade green intelligent mining and other specialized technology centers supports technological breakthroughs [7] Green Transformation - The company has achieved significant results in green production, with comprehensive energy consumption for crude copper decreasing by 16.89% and energy consumption per unit of output value down by 27.70% during the "14th Five-Year Plan" [8] - The Southwest Copper relocation project has notably reduced carbon emissions, and the intelligent factory has improved both production efficiency and environmental standards [8] - The recycling capacity has been enhanced, with the Yunnan Central Nonferrous Recycled Copper Project expected to generate 311 million yuan in revenue by 2024 [8] Deepening Reforms - The state-owned enterprise reform has progressed, completing 82.51% of the three-year action plan tasks by the end of 2024 [9] - Management structure has been streamlined, optimizing resource allocation and reducing operational costs [9] - The implementation of a contract-based management system has improved human resource efficiency, with a 30% optimization in labor utilization [10]