证券代码：000878 证券简称：云南铜业 公告编号：2025-033 云南铜业股份有限公司 关于筹划发行股份购买资产并募集配套 资金事项的停牌公告 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、停牌事由和工作安排 云南铜业股份有限公司（以下简称公司）正在筹划发行 股份购买云南铜业（集团）有限公司（以下简称云铜集团） 持有的凉山矿业股份有限公司（以下简称凉山矿业）40%股 份并募集配套资金。因有关事项尚存不确定性，为了维护投 资者利益，避免对公司证券交易造成重大影响，根据深圳证 券交易所的相关规定，经公司申请，公司证券（品种：A 股 股票，简称：云南铜业，代码：000878）自 2025 年 5 月 13 日开市时起开始停牌。 公司预计在不超过 10 个交易日的时间内披露本次交易 方案，即在 2025 年 5 月 27 日前按照《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》的要求披露相关信息。 若公司未能在上述期限内召开董事会审议并披露交易 方案，公司证券最晚将于 2025 年 5 月 27 日开市起复牌并终 止筹划 ...

云南铜业（000878）公告，公司正在筹划发行股份购买云南铜业(集团)有限公司持有的凉山矿业股份有 限公司40%股份并募集配套资金。因有关事项尚存不确定性，公司证券自2025年5月13日开市时起开始 停牌，预计在不超过10个交易日的时间内披露本次交易方案。若未能在上述期限内召开董事会审议并披 露交易方案，公司证券最晚将于2025年5月27日开市起复牌并终止筹划相关事项。 ...

Core Viewpoint - The presence of floating fibrous materials, suspected to be glass fibers, in the air near a furniture factory in Kunming has raised concerns among local residents regarding potential health risks and environmental impact [1][8]. Group 1: Incident Overview - Residents reported seeing shiny, fibrous materials floating in the air near a furniture factory, which caused skin irritation [1][8]. - A factory worker confirmed the visibility of these fibrous materials under sunlight, describing them as needle-like and floating into the factory [5][6]. Group 2: Investigation and Findings - The local environmental authority conducted an investigation and found a small amount of suspected glass fiber material in the vicinity of the furniture factory [11]. - The preliminary investigation suggested that the suspected glass fibers originated from the nearby Yunnan Copper Zinc Industry Co., Ltd., which had ceased production and was undergoing equipment dismantling [13][14]. - Approximately 2.5 tons of dismantled waste glass fiber materials were found at the site, which were likely contributing to the airborne fibers [14]. Group 3: Environmental Measures - The environmental authority has mandated the responsible parties to properly dispose of the waste glass fiber materials to prevent further environmental impact [14]. - As of May 9, 2025, the waste glass fiber and debris have been cleared from the site, and measures to improve pollution prevention during dismantling processes have been requested [14].

第九届监事会第二十八次会议决议公告 证券代码：000878 证券简称：云南铜业 公告编号：2025-030 云南铜业股份有限公司 《云南铜业股份有限公司关于参股公司存续分立暨关联交 易的公告》。 特此公告。 云南铜业股份有限公司监事会 2025 年 5 月 9 日 2 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）第 九届监事会第二十八次会议以通讯方式召开，会议通知于 2025 年 5 月 6 日以加密邮件方式发出，表决截止日期为 2025 年 5 月 9 日，会议应发出表决票 4 份，实际发出表决票 4 份， 在规定时间内收回有效表决票 4 份，会议符合《公司法》及 《公司章程》的规定。会议表决通过了如下决议： 一、以 4 票同意，0 票反对，0 票弃权，审议通过《云 南铜业股份有限公司关于参股公司存续分立暨关联交易的 议案》。 该议案属关联交易，根据《深圳证券交易所股票上市规 则》有关规定，在提交董事会审议之前已经独立董事专门会 议审议并取得全体独立董事同意。关联董事回避该议案的表 决。 具体内容详见公司同日 ...

证券代码：000878 证券简称：云南铜业 公告编号：2025-029 云南铜业股份有限公司 第九届董事会第三十七次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、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）第 九届董事会第三十七次会议以通讯方式召开，会议通知于 2025 年 5 月 6 日以加密邮件方式发出，表决截止日期为 2025 年 5 月 9 日，会议应发出表决票 10 份，实际发出表决票 10 份，在规定时间内收回有效表决票 10 份，会议符合《公司 法》及《公司章程》的规定。会议表决通过了如下决议： 特此公告。 云南铜业股份有限公司董事会 一、关联董事回避表决后，以 6 票同意，0 票反对，0 票弃权，审议通过《云南铜业股份有限公司关于参股公司存 续分立暨关联交易的议案》。 该议案属关联交易，根据《深圳证券交易所股票上市规 则》有关规定，在提交董事会审议之前已经取得独立董事专 门会议及全体独立董事同意； 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； 1 具体内容详见公司同日在指定信息披露媒体上披露的 ...

云南铜业股份有限公司 关于参股公司存续分立暨关联交易的公告 证券代码：000878 证券简称：云南铜业 公告编号：2025-031 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、关联交易基本情况 1.董事会表决情况和关联董事回避情况 2025 年 5 月 9 日，公司第九届董事会第三十七次会议和 第九届监事会第二十八次会议审议通过了《云南铜业股份有 限公司关于参股公司存续分立暨关联交易的议案》。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作为 关联董事回避该议案表决，其他非关联董事一致同意该议案。 2.独立董事审议情况 上述议案已经公司 2025 年第二次独立董事专门会议审 议，独立董事全票同意将该议案提交董事会审议（具体内容 详见本公告第八项）。 根据《深圳证券交易所股票上市规则》相关规定，本次 凉山矿业存续分立事项无需提交公司股东大会审议。 （一）本次关联交易概述 云南铜业股份有限公司（以下简称公司）控股股东云南 铜业（集团）有限公司（以下简称云铜集团）为满足经营管 理和资源整合需要，加强凉山矿业股份有限公司（以下简称 凉山矿业）的业务聚 ...

证券代码：000878 证券简称：云南铜业 公告编号：2025-032 云南铜业股份有限公司 关于参加云南辖区上市公司 2024 年度投资 者网上集体接待日活动的公告 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。 本次活动将采用网络远程的方式举行，投资者可登录 "全景路演"网站（https://rs.p5w.net），或关注微信公众号： 全景财经，或下载全景路演 APP，参与本次互动交流， 三、公司出席本次活动人员 届时公司财务总监、董事会秘书高洪波先生，财务资产 部负责人刘八妹女士和证券事务代表孙萍女士将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、融资计划、 和可持续发展等投资者关心的问题，与投资者进行沟通与交 流，欢迎广大投资者踊跃参与！ 特此公告 云南铜业股份有限公司董事会 为进一步加强与投资者的互动交流，云南铜业股份有限 公司（以下简称公司）将参加由云南证监局指导，云南省上 市公司协会与深圳市全景网络有限公司联合举办的"2024 年 度云南辖区上市公司投资者网上集体接待日"，现将相关事 项公告如下： 一、活动时间 2025 年 5 ...

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].

Core Viewpoint - The article discusses the cyclical nature and structural opportunities within the coal and non-ferrous metal sectors, highlighting the potential for a "coal flying and color dancing" market scenario, which refers to the simultaneous rise of coal and non-ferrous metal prices driven by macroeconomic factors and supply-demand dynamics [3][5]. Group 1: Market Performance - The coal and non-ferrous sectors have shown an overall upward trend since the A-share market began to recover in September 2024, despite some underperformance in specific futures [3]. - An example of strong performance is Anyuan Coal Industry, whose stock price rose from 1.8 yuan to 7.16 yuan by March 25, 2025, indicating a potential return to the "coal flying" era [3]. - In contrast, Shanxi Coking Coal has experienced a downward trend despite the overall market rise, reflecting the divergence in performance within the coal sector [3][4]. Group 2: Supply and Demand Dynamics - The coal market is influenced by three main factors: policy regulation (such as capacity reduction and environmental restrictions), seasonal demand (like winter heating), and energy transition (renewable energy substitution) [6]. - Non-ferrous metals are more sensitive to global industrial activity and monetary policy, with copper prices closely linked to manufacturing PMI and infrastructure investment growth [6]. - The article notes that the global copper mine production growth is expected to slow to 2% in 2025, while demand growth is projected at 3.5%, indicating a potential supply-demand imbalance [8]. Group 3: Economic Context - The global economy is experiencing a "weak recovery," with China's GDP growth at 5.4% in Q1 2025, driven by infrastructure investment and manufacturing upgrades [6]. - The International Monetary Fund (IMF) forecasts a global GDP growth rate of 3.2% for 2025, which is still below pre-pandemic levels, suggesting limited demand pull for commodities [6][7]. - The article emphasizes that a true "coal flying and color dancing" market requires a conducive environment, including global economic recovery, monetary easing, supply constraints, and geopolitical premiums [6][7]. Group 4: Investment Opportunities - Investors are encouraged to focus on sectors benefiting from the new energy revolution, such as rare earth magnets and copper foil, while avoiding those reliant solely on traditional industrial demand [9]. - The article suggests that for long-term investors willing to endure market fluctuations, identifying the right timing for bottom-fishing in the coal and non-ferrous sectors could be advantageous [9].

Group 1: Financial Performance - In Q1 2025, the company produced 348,900 tons of cathode copper, a year-on-year increase of 48.15% [1] - The total assets at the end of Q1 2025 amounted to 49.256 billion yuan, with a debt-to-asset ratio of 62.39% [1] - The operating income for Q1 2025 was 3.7754 billion yuan, reflecting a year-on-year growth of 19.71% [1] - The net profit attributable to shareholders was 239.7 million yuan, a year-on-year increase of 5.60% [1] Group 2: Production and Sales - Gold production reached 5.80 tons, with a year-on-year increase of 95.63% [1] - Silver production was 128.48 tons, showing a year-on-year growth of 54.31% [1] - Sulfuric acid production totaled 138.72 thousand tons, marking a year-on-year increase of 23.61% [1] - Copper concentrate production was 13,900 tons, a year-on-year decrease of 15% [1] Group 3: Strategic Measures - The company is focusing on "digital transformation, expanding resources, refining mining, optimizing smelting, and enhancing recycling" to address the significant decline in processing fees [1] - The company has implemented cost reduction and efficiency improvement measures, enhancing the competitiveness of its main products [2] - The company is actively negotiating long-term contracts with suppliers to stabilize supply and ensure orderly production [5] Group 4: Asset Management - The company sold part of the assets of the Wangjiqiao plant for 446.74 million yuan, which is expected to increase net profit by 182 million yuan in 2025 [4] - The company is in the process of injecting resources from major shareholders, with commitments to manage and potentially integrate additional assets [6][7] Group 5: Market Outlook - Future copper prices are influenced by multiple factors, including global economic trends, supply-demand relationships, monetary policies, and geopolitical risks [7]