董事会 二〇二五年四月三日 云南锡业股份有限公司董事会 关于独立董事独立性自查情况的专项意见 根据《上市公司独立董事管理办法》《深圳证券交易所股票上市规则》《深圳 证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等要求， 云南锡业股份有限公司（以下简称"公司"）董事会就公司在任独立董事袁蓉丽、 王道斌、于定明的独立性情况进行评估并出具如下专项意见： 经核查独立董事袁蓉丽、王道斌、于定明的任职经历以及签署的独立性自查 文件，公司董事会认为：截至本公告披露之日，公司在任独立董事符合《上市公 司独立董事管理办法》《深圳证券交易所股票上市规则》和《深圳证券交易所上 市公司自律监管指引第 1 号——主板上市公司规范运作》中对独立董事独立性的 相关要求。 云南锡业股份有限公司 ...

Financial Performance - The company's operating revenue for 2024 was approximately ¥41.97 billion, a decrease of 0.91% compared to ¥42.36 billion in 2023[27]. - Net profit attributable to shareholders for 2024 was approximately ¥1.44 billion, an increase of 2.55% from ¥1.41 billion in 2023[27]. - The net profit after deducting non-recurring gains and losses for 2024 was approximately ¥1.94 billion, a significant increase of 40.48% compared to ¥1.38 billion in 2023[27]. - The net cash flow from operating activities for 2024 was approximately ¥3.40 billion, representing a 55.25% increase from ¥2.19 billion in 2023[27]. - Basic earnings per share for 2024 were ¥0.8526, a slight decrease of 0.36% from ¥0.8557 in 2023[28]. - The weighted average return on equity for 2024 was 7.69%, down 0.6 percentage points from 8.29% in 2023[28]. - Total assets at the end of 2024 were approximately ¥36.64 billion, a decrease of 1.13% from ¥37.06 billion at the end of 2023[28]. - Net assets attributable to shareholders at the end of 2024 were approximately ¥20.85 billion, an increase of 17.19% from ¥17.79 billion at the end of 2023[28]. - The company reported a revenue of 41.973 billion yuan in 2024, a decrease of 0.91% year-on-year, while net profit attributable to shareholders increased by 2.55% to 1.444 billion yuan[86]. Market Position and Share - The company's market share in the domestic tin market reached 47.98%, while its global market share was 25.03% in 2024[50]. - The company holds the world's largest indium resource reserves, with a domestic market share of 7.35% and a global market share of 5.01% for refined indium in 2024[60]. - The company has maintained its position as the world's largest tin producer since 2005, with a domestic market share of 47.98% and a global market share of 25.03% in 2024, reflecting an increase of 0.06 and 2.11 percentage points respectively from 2023[64]. Production and Operations - The company achieved a historical high production volume of 361,000 tons of non-ferrous metals in the reporting period[79]. - The company reported a total production of 361,000 tons of non-ferrous metals in 2024, including 84,800 tons of tin, 130,300 tons of copper, and 144,000 tons of zinc, marking a historical high[86]. - The production volume of tin raw ore metal decreased by 2.46% to 31,173 tons in 2024 from 31,958 tons in 2023[106]. - The company’s copper product sales volume increased slightly by 0.84% to 130,402 tons in 2024, compared to 129,315 tons in 2023[104]. Research and Development - The company is investing $50 million in R&D for new technologies aimed at enhancing product efficiency[5]. - R&D expenses increased by 61.92% to ¥397,478,568.20 from ¥245,476,771.50, primarily due to enhanced research efforts in geological exploration and smelting technologies[96]. - The number of R&D personnel increased by 65.60% to 1,401 from 846 in 2023, with the proportion of R&D personnel rising to 10.58%[117]. Sustainability and Governance - The company emphasized its commitment to sustainable development, being selected as a model for sustainable practices in the 2024 annual report[10]. - The company has made significant progress in green mining and factory initiatives, showcasing its commitment to environmental responsibility[5]. - The company has established a comprehensive governance structure, ensuring transparency and accountability in its operations[13]. - The company was recognized for its governance and information disclosure, receiving multiple awards including the A-level rating from the Shenzhen Stock Exchange for 2023-2024[90]. Strategic Initiatives - The company is focused on enhancing its mining efficiency through the implementation of advanced mining equipment and technologies[3]. - The company plans to enhance resource exploration and processing technology to improve the quality and quantity of production, focusing on cost control and lean production[150]. - The company is committed to becoming a leading global supplier of tin and indium products, emphasizing digital transformation and smart mining initiatives[148]. - The company is actively pursuing external resource acquisition and strategic partnerships to stabilize its supply chain amidst global resource distribution challenges[151]. Financial Management - The company reported a significant increase in derivative financial assets, rising by 271.14% to ¥99,145,336.90 due to increased floating profits from commodity hedging contracts[93]. - Accounts receivable financing decreased by 35.93% to ¥142,381,088.17, primarily due to a reduction in held receivables[93]. - The company raised a total of 200 million CNY through the issuance of two tranches of perpetual bonds, with a net amount of 199.275 million CNY after deducting issuance costs[140]. Shareholder Engagement - The company emphasized its independence from controlling shareholders in operations, finance, and business activities, ensuring no conflicts of interest[174]. - The first temporary shareholders' meeting in 2024 had an investor participation rate of 54.94%[175]. - The company reported a significant increase in shareholder meeting resolutions, with 47.14% approval for the annual meeting and 46.15% for the second extraordinary meeting in 2024[176]. Future Outlook - The company aims for a total revenue of 46.5 billion yuan in 2025, with product targets of 90,000 tons of tin, 125,000 tons of copper, 131,600 tons of zinc, and 102.3 tons of indium[149]. - The company anticipates challenges in the stability and sustainability of global tin supply, particularly from traditional mining regions[50]. - The company faces risks from geopolitical tensions and macroeconomic uncertainties, which may impact production and market operations[150].

为充分尊重投资者，提升业绩说明会交流效果，现就公司 2024 年度业绩说 明会提前向投资者公开征集问题，广泛听取投资者的意见和建议。投资者可于 2025 年 4 月 7 日（星期一）15:00 前访问 http://ir.p5w.net/zj/，或扫描下方二维码， 进入问题征集专题页面。公司将在 2024 年度业绩说明会上对投资者普遍关注的 问题进行回答。 | 证券代码：000960 | 证券简称：锡业股份 | | | 公告编号：2025-007 | | --- | --- | --- | --- | --- | | 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 关于举办 2024 年度业绩说明会的公告 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。 云南锡业股份有限公司（以下简称"公司"）将于 2025 年 4 月 3 日披露《2024 年年度报告》及《2024 年年度报告摘要》，为便于广大投资者进一步了解公司 2024 年度报告 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [6] Core Views - The company expects a net profit attributable to shareholders of 1.42-1.52 billion yuan for 2024, representing a year-on-year increase of 0.8%-7.9%. The non-recurring net profit is projected to be 1.92-2.02 billion yuan, reflecting a year-on-year growth of 38.8%-46.1% [1][4] - The decline in net profit for Q4 2024 is primarily due to the impact of mining rights transfer income, with an estimated net profit of 190 million yuan, down 61% quarter-on-quarter. However, the non-recurring net profit is expected to increase by 15% quarter-on-quarter [2] - The company has signed multiple strategic cooperation agreements, which are expected to enhance future growth prospects. The agreements include partnerships with local governments and companies in Indonesia, focusing on resource integration and collaboration [3] Summary by Sections Financial Performance - The company forecasts a net profit of 1.48 billion yuan for 2024, with a 5% increase in 2025 and a 10% increase in 2026. The corresponding P/E ratios are projected to be 16, 11, and 10 times for 2024, 2025, and 2026 respectively [4][5] - The average price of tin is expected to remain high due to supply constraints, particularly following the suspension of mining in Myanmar, which accounted for approximately 18% of global tin production [3] Strategic Developments - The company has entered into a cooperation agreement with the local government to consolidate tin resources, positioning itself as a key player in the region [3] - The strategic partnerships with Indonesian companies are anticipated to facilitate resource and technology sharing, enhancing operational capabilities [3] Market Outlook - The report indicates that tin prices are likely to remain elevated due to ongoing supply tightness, with expectations for continued high prices into 2025 [3]

Financial Projections - The estimated net profit attributable to shareholders for 2024 is projected to be between CNY 1,420 million and CNY 1,520 million, representing an increase of 0.83% to 7.93% compared to the previous year[3]. - The estimated net profit after deducting non-recurring gains and losses is expected to be between CNY 1,920 million and CNY 2,020 million, reflecting a significant increase of 38.84% to 46.07% year-on-year[3]. - The basic earnings per share for 2024 is projected to be between CNY 0.8379 and CNY 0.8987, compared to CNY 0.8557 in the previous year[3]. - The performance forecast period is from January 1, 2024, to December 31, 2024[3]. Company Strategy and Performance - The company has focused on "strong attack, deep reform, market expansion, and stable operation" to enhance production efficiency despite market challenges[5]. - The company has successfully mitigated the adverse effects of declining processing fees and capitalized on market opportunities to achieve substantial growth in net profit after deducting non-recurring items[6]. - The increase in net profit attributable to shareholders is partially impacted by the payment of mining rights transfer income[6]. Audit and Communication - The performance forecast has not been audited by the accounting firm, and the final financial data will be disclosed in the 2024 annual report[7]. - The company has communicated with the accounting firm regarding the performance forecast, and there are no discrepancies between the two parties[4]. - The company emphasizes the importance of cautious decision-making for investors due to the preliminary nature of the performance forecast[7].

2024 年中期权益分派实施公告 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"本公司"或"公司"）2024 年中期权 益分派方案已经 2025 年第一次临时股东大会审议通过，现将权益分派事宜公告 如下： 一、股东大会审议通过权益分派方案情况 | 证券代码：000960 | 证券简称：锡业股份 | | 公告编号：2025-003 | | --- | --- | --- | --- | | 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 部分按 10%征收，对内地投资者持有基金份额部分实行差别化税率征收）。 1、公司经股东大会审议通过的 2024 年中期权益分派具体方案为：以 2024 年 9 月 30 日公司总股本 1,645,801,952 股为基数，向全体股东每 10 股派发现金 红利 1.00 元（含税），合计派发现金股利 164,580,195.20 元（含税）。除此之外， 不送红股，不以资本公积金转 ...

| 证券代码：000960 | 证券简称：锡业股份 | | 公告编号：2025-002 | | --- | --- | --- | --- | | 债券代码：148721 | 债券简称：24 锡 | KY01 | | | 债券代码：148747 | 债券简称：24 锡 | KY02 | | 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。 特别提示： 1、本次股东大会未出现否决议案情形。 云南锡业股份有限公司 2025 年第一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 2024 年 12 月 31 日以公告 形式向公司全体股东发出召开 2025 年第一次临时股东大会的通知，2025 年 1 月 15 日披露了关于召开 2025 年第一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 1 月 15 日（星期三）1 ...

北京德恒（昆明）律师事务所 关于云南锡业股份有限公司 2025 年第一次临时股东会的 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 2025 年第一次临时股东会的 法 律 意 见 云南锡业股份有限公司： 北京德恒（昆明）律师事务所（下称"本所"）作为贵公司的常年法律顾问， 本次指派冯楠律师、杨敏律师出席贵公司 2025 年第一次临时股东会（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》《上市公司股东大会规则》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： 北京德恒（昆明）律师事务所 关于云南锡业股份有限公司 2025 年第一次临时股东会的法律意见 北京德恒（昆明）律师事务所 关于云南锡业股份有限公司 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 ...

云南锡业股份有限公司 募集资金专项存储及使用管理制度 （经公司 2025 年 1 月 15 日召开的 2025 年第一次临时股东大会审议通过） 为规范云南锡业股份有限公司（以下简称"公司"）募集资金的管理和使用， 最大限度地保障投资者的利益，根据《中华人民共和国公司法》《中华人民共和 国证券法》《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管 要求》《深圳证券交易所股票上市规则》（以下简称《股票上市规则》）《深圳证券 交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》《公司债券发 行与交易管理办法》《深圳证券交易所公司债券存续期业务指南第 3 号——募集 资金管理重点关注事项（试行）》等有关法律法规和规定的要求及《公司章程》 的规定，结合公司的实际情况，特制定本管理制度。 第一章 总则 第一条 本制度所称募集资金包括股权募集资金和债券募集资金。其中股权 募集资金是指公司通过发行股票及其衍生品种而向投资者募集并用于特定用途 的资金。债券募集资金是指公司通过发行公司债券向投资者募集并用于特定用途 的资金。 第二条 公司应当审慎使用募集资金，保证募集资金的使用与发行申请文件 的承诺相一致 ...

| 证券代码：000960 | 证券简称：锡业股份 | | 公告编号：2025-001 | | --- | --- | --- | --- | | 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 年第一次临时股东大会的提示性公告 3、会议召开的合法、合规性：本次临时股东大会会议召集、召开程序符合 有关法律、行政法规、部门规章、深圳证券交易所相关业务规则和《公司章程》 等的有关规定。 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 2024 年 12 月 31 日在巨潮资 讯网（http://www.cninfo.com.cn）披露了《关于召开 2025 年第一次临时股东大会 的通知》（公告编号：2024-057）。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 年第一次临时股东大会。 2、会议召集人：公司董事会。经 2024 年 12 月 27 日召 ...