Core Viewpoint - Yunnan Tin Company Limited plans to repurchase a portion of its A-shares using its own funds through centralized bidding, aimed at canceling shares and reducing registered capital. The repurchase price will not exceed 21.19 yuan per share, with a total repurchase fund between 100 million yuan and 200 million yuan, potentially affecting approximately 0.29% to 0.57% of the company's total share capital [2][6][10]. Group 1: Repurchase Plan Details - The repurchase is intended to enhance shareholder value and investor confidence, reflecting the management's confidence in the company's future prospects [6][14]. - The repurchase will be conducted through the Shenzhen Stock Exchange, with a maximum price of 21.19 yuan per share, which is 150% of the average trading price over the previous 30 trading days [7][10]. - The total funds allocated for the repurchase will range from 100 million yuan to 200 million yuan, with estimated repurchase quantities between 4,719,207 shares and 9,438,414 shares [10][12]. Group 2: Approval and Implementation - The repurchase plan has been approved by the company's board of directors and shareholders during meetings held on June 12 and June 30, 2025 [5][20]. - The implementation period for the repurchase will be within 12 months from the date of shareholder approval, with provisions for extension if the stock is suspended for more than ten trading days [12][19]. - The company has established a dedicated securities account for the repurchase, ensuring compliance with regulatory requirements [3][21]. Group 3: Financial Impact and Management Assurance - As of December 31, 2024, the company's total assets were approximately 3.66 billion yuan, with net assets of about 2.08 billion yuan, indicating sufficient liquidity to support the repurchase [14]. - The management asserts that the repurchase will not adversely affect the company's operational capabilities or financial stability, and the controlling shareholder will remain unchanged post-repurchase [14][18]. - The company will ensure timely disclosure of the repurchase progress and any significant developments during the implementation period [23].

| 证券代码：000960 | 证券简称：锡业股份 | | | 公告编号：2025-041 | | --- | --- | --- | --- | --- | | 债券代码：148721 | 债券简称：24 | 锡 | KY01 | | | 债券代码：148747 | 债券简称：24 | 锡 | KY02 | | 根据回购方案，本次回购资金总额不低于人民币 1 亿元（含）且不超过人民 币 2 亿元（含），在回购价格不超过 21.19（含）元/股的条件下，按回购金额上 限测算，预计回购股份数量约为 9,438,414 股，约占公司总股本的 0.57%；按回 购金额下限测算，预计回购股份数量约为 4,719,207 股，约占公司总股本的 0.29%； 具体回购股份数量以回购期满时实际回购的股份数量为准。回购期限自公司股东 大会审议通过本次回购股份方案之日起 12 个月内。 二、需债权人知晓的相关信息 云南锡业股份有限公司 关于回购股份通知债权人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 一、通知债权人的原因 云南锡业股份有限公司（以下简称"锡业股份" ...

| 证券代码：000960 | 证券简称：锡业股份 | | | 公告编号：2025-040 | | --- | --- | --- | --- | --- | | 债券代码：148721 | 债券简称：24 | 锡 | KY01 | | | 债券代码：148747 | 债券简称：24 锡 | | KY02 | | 云南锡业股份有限公司 回购股份报告书 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 重要内容提示： 1.云南锡业股份有限公司（以下简称"锡业股份"或"公司"）拟使用自有 资金通过集中竞价交易方式回购公司发行的部分人民币普通股（A 股）股票，用 于注销并减少注册资本。本次回购价格不超过 21.19 元/股（含）。本次回购资金 总额不低于人民币 1 亿元（含）且不超过人民币 2 亿元（含），在回购价格不超 过 21.19 元/股（含）的条件下，按回购金额上限测算，预计回购股份数量约为 9,438,414 股，约占公司总股本的 0.57%；按回购金额下限测算，预计回购股份数 量约为 4,719,207 股，约占公司总股本的 0.29%；具体回购股份数量 ...

| 证券代码：000960 | 证券简称：锡业股份 | | 公告编号：2025-039 | | --- | --- | --- | --- | | 债券代码：148721 | 债券简称：24 锡 | KY01 | | | 债券代码：148747 | 债券简称：24 锡 | KY02 | | 云南锡业股份有限公司 2025 年第二次临时股东大会决议公告 2、本次股东大会不涉及变更以往股东大会已通过的决议。 3、云南锡业股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日以公告 形式向公司全体股东发出召开 2025 年第二次临时股东大会的通知，2025 年 6 月 30 日披露了关于召开 2025 年第二次临时股东大会的提示性公告。 4、本公告中占有表决权股份总数的百分比例均保留 4 位小数，若其各分项 数值之和与合计数值存在尾差，均为四舍五入原因造成。 一、会议的召开情况 1、召开时间 （1）现场会议时间：2025 年 6 月 30 日（星期一）15:00。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时 间为 2025 年 6 月 30 日 9:15－9:25、9:30－11 ...

法律意见 北京德恒（昆明）律师事务所 Beijing DeHeng Law Offices (KunMing) 云南省昆明市西山区西园路 126 号"融城优郡"B5 幢 3、4 层 电话（传真）：0871-63172192 邮编: 650034 北京德恒（昆明）律师事务所 关于云南锡业股份有限公司 2025 年第二次临时股东会的 北京德恒（昆明）律师事务所（下称"本所"）受贵公司聘请，本次指派杨 敏律师、李妍律师出席贵公司 2025 年第二次临时股东会（以下简称"本次股东 会"），并按照律师行业公认的业务标准、道德规范及勤勉尽责精神，对贵公司 提供的与本次股东会有关的文件资料进行了审查，现根据《公司法》《证券法》 《上市公司股东会规则》及贵公司《章程》的规定，就贵公司本次股东会的相关 问题出具如下法律意见： 一、关于本次股东会的召集和召开程序 根据贵公司提供的有关资料及公开披露的信息，表明贵公司已于2025年6月 12日召开了第九届董事会2025年第三次临时会议，作出了关于召开本次股东会的 决议，并于2025年6月13日在《中国证券报》《证券时报》《证券日报》《上海 证券报》和巨潮资讯网等媒体刊登了召开本次股 ...

Group 1 - The metal zinc concept index declined by 0.08%, ranking among the top declines in the concept sector, with major declines seen in companies such as Dazhong Mining, *ST Zhengping, and Shengda Resources [1] - Among the 17 stocks that rose, ST Shengtun, Huayu Mining, and Guocheng Mining had the highest increases of 2.76%, 2.38%, and 2.15% respectively [1] - The metal zinc concept sector experienced a net inflow of 0.36 billion yuan, with 21 stocks seeing net outflows, and 8 stocks with outflows exceeding 10 million yuan [2] Group 2 - The top net outflow was from ST Shengtun, with a net outflow of 48.91 million yuan, followed by Xiyang Co., Baiyin Nonferrous, and Yuguang Gold & Lead with outflows of 29.36 million yuan, 24.32 million yuan, and 18.51 million yuan respectively [2] - The leading stocks for net inflow included Zijin Mining, Shanjin International, and Western Mining, with net inflows of 1.09 billion yuan, 60.22 million yuan, and 25.12 million yuan respectively [2][3] - The trading volume and performance of various companies in the metal zinc sector were highlighted, with ST Shengtun showing a decline of 2.76% and a turnover rate of 3.44% [3]

Meeting Information - The company will hold its second extraordinary general meeting of shareholders in 2025 on June 30, 2025, at 15:00 [1] - The meeting will be conducted both in-person and via online voting through the Shenzhen Stock Exchange systems [2] Voting Procedures - Shareholders can vote through the Shenzhen Stock Exchange trading system or the internet voting system on June 30, 2025, from 9:15 to 15:00 [2] - Each shareholder can choose only one voting method, and duplicate votes will be counted based on the first valid vote [2] Agenda Items - The meeting will discuss the proposal for the company's share repurchase plan, which requires individual item voting [4][10] - The election of a non-independent director for the ninth board of directors will also be on the agenda [5][10] Registration and Attendance - All ordinary shareholders registered by the close of trading on June 23, 2025, are entitled to attend the meeting [2] - Specific registration procedures are outlined for both corporate and individual shareholders [6][7] Additional Information - The meeting will last half a day, and attendees are responsible for their own travel and accommodation expenses [7] - Detailed voting procedures and authorization forms for proxy voting are provided [8][9][11]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The copper market shows a steady upward trend with LME copper prices increasing by 2.26% to $9,879.00 per ton, while domestic copper prices rose by 2.47% to 79,900 yuan per ton. Supply-side pressures are evident as the processing fee for imported copper concentrate has dropped to -$44.81 per ton, indicating potential supply constraints [1][13] - The aluminum market is stabilizing at the bottom, with LME aluminum prices up by 1.31% to $2,595.00 per ton. However, the operating rate of leading aluminum cable enterprises has decreased to 61.8%, reflecting ongoing demand challenges [2][14] - Gold prices have decreased by 2.90% to $3,286.10 per ounce, influenced by geopolitical tensions and a reduction in SPDR gold holdings, indicating a temporary decline in gold's safe-haven appeal [3][15] - The rare earth sector is experiencing upward momentum, driven by export controls and stable production levels, with expectations of improved supply-demand dynamics and potential price support [3][27][30] Summary by Sections 1. Overview of Bulk and Precious Metals Market - Copper prices are on the rise, with a slight increase in inventory and a decrease in processing fees indicating potential supply issues [1][13] - Aluminum prices are stabilizing, but demand remains weak as indicated by declining operating rates in the industry [2][14] - Precious metals, particularly gold, are facing downward pressure due to geopolitical factors and reduced investment interest [3][15] 2. Updates on Bulk and Precious Metals Fundamentals 2.1 Copper - The copper market is experiencing a robust demand outlook, with potential supply constraints due to declining processing fees and reduced operating rates in key sectors [1][13] 2.2 Aluminum - The aluminum market is stabilizing, but the demand outlook remains weak, as evidenced by declining operating rates in the aluminum cable sector [2][14] 2.3 Precious Metals - Gold prices are under pressure due to geopolitical tensions and a decrease in ETF holdings, reflecting a temporary decline in its safe-haven status [3][15] 3. Updates on Minor Metals and Rare Earths - The rare earth sector is expected to benefit from improved supply-demand dynamics and stable production levels, with potential price support anticipated [3][27][30] - The antimony market is facing downward price pressure, but upcoming regulatory changes may provide a demand boost [4][31] - Molybdenum prices are stabilizing, with low inventory levels and strong demand from the steel sector indicating a positive outlook [4][32] 4. Updates on Energy Metals - Lithium prices have shown slight declines, but production levels are increasing, indicating a stable supply outlook [5] - Cobalt prices have increased, reflecting strong demand in battery applications, while nickel prices are mixed with slight fluctuations [5]

| 证券代码：000960 | 证券简称：锡业股份 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：148721 | 债券简称：24 | 锡 KY01 | | 债券代码：148747 | 债券简称：24 | 锡 KY02 | 云南锡业股份有限公司 关于召开 2025 年第二次临时股东大会的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 云南锡业股份有限公司（以下简称"公司"）于 2025 年 6 月 13 日在巨潮资讯 网（http://www.cninfo.com.cn）披露了《关于召开 2025 年第二次临时股东大会的 通知》（公告编号：2025-035）。现将会议有关事项提示如下： 一、召开会议基本情况 1、股东大会届次：2025 年第二次临时股东大会。 2、会议召集人：云南锡业股份有限公司董事会。经 2025 年 6 月 12 日召开 的第九届董事会 2025 年第三次临时会议审议通过，同意召开公司 2025 年第二次 临时股东大会（详见公司 2025 年 6 月 13 日披露的公司董事会决议公告 ...

Group 1 - The copper concept sector increased by 1.95%, ranking 6th among concept sectors, with 58 stocks rising, including Northern Copper, which hit the daily limit, and Jin Chengxin, Jiangxi Copper, and Jintian Co., which rose by 6.70%, 6.12%, and 6.05% respectively [1][2] - The main capital inflow into the copper concept sector was 281 million yuan, with 35 stocks receiving net inflows, and 5 stocks seeing inflows exceeding 50 million yuan, led by Northern Copper with a net inflow of 244 million yuan [2][3] - The net inflow ratios for Northern Copper, Xiyu Co., and ST Shengtun were 19.90%, 15.00%, and 11.19% respectively, indicating strong investor interest in these stocks [3] Group 2 - The top gainers in the copper concept sector included Northern Copper, which rose by 10.03%, and Xiyu Co., which increased by 5.95%, while the top losers included Huamao Co., which fell by 7.56% [3][6] - The trading volume and turnover rates for the leading stocks in the copper sector showed significant activity, with Northern Copper having a turnover rate of 6.86% and Xiyu Co. at 4.85% [3][4] - The overall performance of the copper concept sector reflects a positive sentiment among investors, as evidenced by the substantial net inflows and the number of stocks experiencing gains [2][5]