证券代码：000960 证券简称：锡业股份 公告编号：2024-020 云南锡业股份有限公司 二〇二四年四月十八日 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 4 月 12 日披露《2023 年年度报告》及《2023 年年度报告摘要》，为便于广大投资者进一步了解公司 2023 年度报告及经营情况，公司将于 2024 年 4 月 22 日（星期一）15:00-16:30 在全景网举办 2023 年度业绩说明会，本次年度业绩说明会将通过网络远程直播 的方式举行，投资者可登陆全景网"投资者关系互动平台"（http://ir.p5w.net） 参与本次年度业绩说明会。 出席本次年度业绩说明会的人员有：董事长（总经理）刘路坷先生、独立董 事王道斌先生、副总经理王建伟先生、副总经理陈雄军先生、财务总监岳敏女士、 副总经理黄适先生、董事会秘书杨佳炜先生（如存在特殊情况，公司将根据实际 情况调整出席人员）。 为充分尊重投资者，提升业绩说明会交流效果，现就公司 2023 年度业绩说 明会提前向投资者公开征集问题，广 ...

2024年4月16日 公司研究 业绩基本符合预期，供给约束、半导体复苏驱动锡价上行 ——锡业股份（000960.SZ）2023 年年报点评 要点 增持（维持） 当 前价：17.05元 事件:公司于4月12日发布2023年年报，实现营收424亿元，同比-19%；归 母净利润14亿元，同比+5%；归母扣非净利润14亿元，同比+11%。2023年 按当前股价对应股息率为1.5%，分红比例为30.4%。 作者 分析师：王招华 点评： 执业证书编号：S0930515050001 021-52523811 受锡、锌价格下跌影响，公司毛利同比减少。2023年总毛利减少11亿，其中 wangzhh@ebscn.com 锡业务（锡锭、锡化工、锡材）毛利为16亿元，同比-9亿元，毛利下降主要受 分析师：方驭涛 锡价下跌影响，2023年锡均价为21.2万元/吨，同比-15%。2023年锌产品毛 执业证书编号：S0930521070003 利为9亿元，同比-5亿元，毛利减少主要受锌价下跌影响，2023年锌价为2.16 021-52523823 fangyutao@ebscn.com 万元/吨，同比-14%。 联系人：王秋琪 资产减值 ...

证券研究报告 | 2024年04月14日 锡业股份（000960.SZ） ——年报点评 买入 利润稳步提升，有望享受锡价上涨带来的业绩弹性 核心观点 公司研究·财报点评 公司发布年报：实现营收423.59亿元，同比-18.54%；实现归母净利润14.08 有色金属·小金属 亿元，同比+4.61%。2023Q4实现营收87.01亿元，同比-11.49%，环比-19.63%； 证券分析师：刘孟峦 证券分析师：杨耀洪 实现归母净利润3.13亿元，同比增加约329倍，环比-23.28%。 010-88005312 021-60933161 liumengluan@guosen.com.cn yangyaohong@guosen.com.cn 核心产品产销量数据：2023年公司全年生产有色金属总量34.71万吨，其中 S0980520040001 S0980520040005 锡8万吨、铜12.93万吨、锌13.47万吨、铟锭102吨、铅3158吨、金1002 基础数据 千克、银166吨。2023年公司实现锡、铜选矿回收率提升，锡精矿、铜精矿、 投资评级 买入(维持) 合理估值 锌精矿自给率分别为30.94%、18.3 ...

公司研 究 证 券研究 报 告 镍钴锡锑 2024年04月13日 锡 业股份（000960）2023年报点评 强 推 （上调） 目标价：21.53元 锡铟龙头优势明显，业绩有望受益锡价增长 当前价：17.05元 事项： 华创证券研究所  公司发布2023年报，公司全年实现营业收入423.59亿元，同比下降18.54%； 证券分析师：马金龙 归母净利润14.08亿元，同比增长4.6%；扣非归母净利润13.83亿元，同比增 长11.18%；经营活动现金流净额21.93亿元。 邮箱：majinlong@hcyjs.com 评论 执业编号：S0360522120003 证券分析师：刘岗  资产减值减少及期间费用的下降抵消了锡价下滑的不利影响，公司归母净利 润小幅增长。2023年，国内锡锭均价21万元，同比下滑15%，带动公司锡锭 邮箱：liugang@hcyjs.com 吨毛利同比下滑28%（1.96万元/吨）。同时受贸易业务下滑25%、原子公司锡 执业编 号：S0360522120002 业锡材（更名新材料公司）和锡化工公司不纳入合并范围导致锡材和锡化工收 入减少 65%，公司总营业收入同比减少18.5%，总毛 ...

有色金属/小金属 公 司 研 锡业股份（000960.SZ） 锡价易涨难跌，锡业龙头乘风起 究 2024年04月13日 ——公司信息更新报告 投资评级：买入（维持） 李怡然（分析师） 温佳贝（联系人） liyiran@kysec.cn wenjiabei@kysec.cn 证 书编号：S0790523050002 证书编号：S0790123100047 日期 2024/4/12 当前股价(元) 17.05  锡价易涨难跌，锡业龙头乘风起 公 2023年，公司实现营业收入423.59亿元，同比减少18.54%，主要系云南锡业新 一年最高最低(元) 17.96/10.73 司 材料及云南锡业锡化工自2023年5月起不再纳入锡业股份合并范围所致，实现 信 总市值(亿元) 280.61 息 流通市值(亿元) 280.61 归母净利润 14.08 亿元，同比增长 4.61%。公司销售/管理/研发/财务费用营业收 更 总股本(亿股) 16.46 入占比分别为0.19%、2.45%、0.58%、1.03%，分别同比变动+0.01pct、+0.24pct、 新 报 流通股本(亿股) 16.46 +0.16pct、-0.02 ...

Financial Performance - The company's operating revenue for 2023 was ¥42,359,256,548.28, a decrease of 18.54% compared to ¥51,997,844,059.06 in 2022[37]. - The net profit attributable to shareholders for 2023 was ¥1,408,362,320.49, representing an increase of 4.61% from ¥1,346,255,971.62 in 2022[37]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥1,382,908,069.12, an increase of 11.18% from ¥1,243,817,815.68 in 2022[37]. - The net cash flow from operating activities decreased by 56.55% to ¥2,193,053,783.87 in 2023 from ¥5,047,786,501.69 in 2022[37]. - Basic earnings per share for 2023 were ¥0.8557, up 4.61% from ¥0.8180 in 2022[39]. - The total assets at the end of 2023 were ¥37,060,492,851.29, an increase of 1.06% from ¥36,670,217,895.16 at the end of 2022[39]. - The net assets attributable to shareholders increased by 8.55% to ¥17,790,292,055.99 at the end of 2023 from ¥16,389,601,238.68 at the end of 2022[39]. - The company reported a quarterly revenue of ¥11,120,939,959.77 in Q1 2023, with a decline in revenue to ¥8,701,292,263.49 in Q4 2023[43]. - The net profit attributable to shareholders in Q4 2023 was ¥313,083,356.15, showing a decrease from earlier quarters[43]. - The company achieved a year-on-year revenue growth of 4.61% in 2023, driven by enhanced synergy in mining, selection, and smelting operations[95]. - The company achieved an operating revenue of 42.359 billion yuan, a decrease of 18.54% compared to the previous year, while the net profit attributable to shareholders increased by 4.61% to 1.408 billion yuan[102]. Market Position and Share - In 2023, the company's tin metal domestic market share was 47.92%, an increase of 0.14 percentage points from 2022, while the global market share was 22.92%, up by 0.38 percentage points[80]. - The company is the largest producer of tin globally since 2005, with a comprehensive industry chain in tin exploration, mining, smelting, and deep processing[80]. - The company’s steel production base in the Dolong mining area has the largest steel resource reserves globally, with a domestic market share of 6.92% and a global market share of 4.38% in 2023[75]. - The company ranks first among the top ten refined tin producers in 2023 according to the International Tin Association[80]. - The company holds a 47.92% market share in the domestic tin market and a 22.92% share in the global market for 2023[99]. Production and Operations - The company produced a total of 347,100 tons of non-ferrous metals in 2023, including 80,000 tons of tin, 129,300 tons of copper, and 134,700 tons of zinc[102]. - Total production of non-ferrous metals reached a historical high of 347,100 tons in 2023[94]. - The production volume of zinc ore increased by 16.57% to 122,631 tons, while the production of tin and copper ore decreased by 7.05% and 3.20%, respectively[123]. - The company has a tin smelting capacity of 80,000 tons/year, cathode copper capacity of 125,000 tons/year, and zinc smelting capacity of 100,000 tons/year[94]. - The company is focusing on resource expansion, modern mining, and intelligent smelting to improve operational management levels[76]. Research and Development - The company has a total of 353 valid patents, including 99 invention patents, as of the end of 2023[98]. - R&D investment increased by 12.03% to ¥245,476,771.50 in 2023, compared to ¥219,124,456.27 in 2022, representing 0.58% of operating revenue[134]. - The number of R&D personnel decreased by 49.61% to 846 in 2023 from 1,679 in 2022, with a significant drop in the number of personnel holding master's degrees by 90.43%[134]. - The company is focusing on new technology development, including a new low-carbon zinc resource processing technology to enhance comprehensive utilization levels[134]. - The company has completed a comprehensive study on the grinding system of the Daitun tin mine, aiming to improve grinding efficiency and reduce energy consumption by over 40%[134]. Environmental and Social Responsibility - The company emphasizes environmental responsibility through green mining practices and social responsibility activities[7]. - The company is committed to sustainable development through a circular economy model encompassing exploration, mining, smelting, and recycling[94]. - The company has been recognized as an "Excellent Practice Case for Rural Revitalization" in 2023[15]. - The company has a strong commitment to community support, including educational assistance programs[12]. - The company is actively involved in safety production initiatives, including emergency drills and greening of tailings ponds[9]. Strategic Initiatives and Future Outlook - The company has outlined potential risks and countermeasures in its future development outlook[18]. - The company plans to closely monitor demand changes in key sectors to seize market development opportunities[56]. - The company aims to enhance resource supply security and promote green mining development, aligning with provincial strategic development goals[78]. - The company plans to enhance its core competitiveness in the tin deep processing sector through a joint venture with Yunxi Holdings, focusing on resource allocation and technological advantages[110]. - The company recognizes the uncertainties in the macroeconomic environment and plans to adjust its operational strategies accordingly to enhance competitiveness[173]. Financial Management and Investments - The company reported a government subsidy of ¥69.30 million, which is expected to have a continuous impact on the company's profits[48]. - The company has established a comprehensive compliance management system to strengthen risk control and ensure sustainable supply chain practices[112]. - The company’s asset-liability ratio has continuously decreased, indicating an improvement in capital structure and financial health[109]. - The company has engaged in hedging activities to mitigate the impact of price volatility in metal products, enhancing procurement and sales effectiveness[176]. - The company has established a hedging committee to enhance the management of hedging operations and improve the operational processes for domestic and foreign futures hedging[157]. Governance and Shareholder Engagement - The governance structure includes a "Four Meetings and One Layer" decision-making system, ensuring compliance and effective management oversight[186]. - The company has held multiple board meetings and shareholder meetings in 2023, with no rejected proposals, indicating a stable governance process[187]. - The company is committed to enhancing shareholder returns through cash dividends and has engaged in discussions regarding its dividend policy[196]. - The company has initiated a regular performance briefing format, including live streaming of earnings presentations to improve investor engagement[196]. - The company is focused on improving its capital market image through multi-channel investor communication and interaction[200].

2023 Environmental, Social, and Governance (ESG) Report CONTENTS Steady Operation and Laying a Solid Foundation for Development Guarding the Earth and Drawing a Picture of Green Prosperity Leading with Environmental Responsibility and Green Mission 55 Environmental Management Lean Management - Empowering Diverse Values Caring for Employees and Fulfilling Mission Responsibilities 93 79 Industrial Chain Management Benefits Talent Acquisition and Development Employee Compensation and Employee Health and Safety ...

云南锡业股份有限公司 2023 年，云南锡业股份有限公司（以下简称"锡业股份"或"公司"）董事会严 格按照《公司法》《证券法》《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》（以下简称"《规范运作》"）等法律法规、规范性文件及《云南 锡业股份有限公司章程》（以下简称"《公司章程》"）等管理制度的规定，本着 对公司和全体股东负责的态度，恪尽职守、诚实守信、勤勉尽责地履行义务及谨 慎科学决策，认真贯彻落实股东大会的各项决议，积极有效地开展董事会各项工 作，不断完善公司治理水平和规范运作，为保障公司高效运行和可持续发展发挥 了应有的作用。现将董事会 2023 年度主要工作报告如下： 一、2023 年公司生产经营情况 2023 年，锡业股份积极应对错综复杂的经济形势和内外诸多困难和挑战， 通过全司广大干部职工齐心协力，锐意进取，全年生产有色金属总量 34.71 万吨， 其中：锡 8 万吨、铜 12.93 万吨、锌 13.47 万吨、铟锭 102.26 吨、铅 3158 吨， 金 1002 千克，银 166 吨。实现营业收 423 ...

2、公司内部控制组织机构完整，内部审计部门及人员配备齐全、运转有效， 保证了公司内部控制重点活动的执行及监督的充分有效。 云南锡业股份有限公司第九届监事会 对公司 2023 年度内部控制自我评价报告的意见 根据《公司法》《证券法》及财政部、中国证监会等部门联合发布的《企业 内部控制基本规范》及其配套指引、深圳证券交易所发布的《上市公司规范运作 指引》《深圳证券交易所上市公司业务办理指南第2号——定期报告披露相关事 宜》的有关规定，公司监事会对公司内部控制自我评价发表意见如下： 1、公司根据中国证监会和深圳证券交易所的相关规定要求，遵循内部控制 的基本原则，按照公司实际情况，建立健全了覆盖公司各环节的内部控制制度， 能够对公司经营管理起到有效控制、监督作用，促进公司经营管理活动协调、有 序、高效运行。 3、报告期内，公司对纳入评价范围的主要单位、业务和事项以及高风险领 域建立内部控制并得以有效执行，达到了公司内部控制的目标，不存在重大缺陷 或重要缺陷。自我评价报告真实、完整地反映了公司内部控制制度建立、健全和 执行的现状，符合公司内部控制的要求，对内部控制的总体评价客观、准确。 监事会成员一致认为：报告期内，公 ...

证券代码：000960 证券简称：锡业股份 公告编号：2024-014 云南锡业股份有限公司 2024 年度经营预算方案 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4月10日召开第九届 董事会第五次会议及第九届监事会第五次会议，审议通过了《云南锡业股份有限 公司2024年度经营预算方案》，该方案尚需提交公司年度股东大会审议，现将该 方案具体情况公告如下： 一、预算编制 坚持市场导向原则，强化效益提升、风险防范兼顾，立足全产业链协同运营 效益最大；坚持盈利能力是根本、现金流管理能力是保障的原则；坚持全价值链、 全流程、全员参与原则；聚焦"促销售、去库存；降成本、控费用；快周转、保 现金；重效益，慎投资"的工作思路。 二、主要经营预算指标 产品含锡 8.5 万吨、产品铜 13 万吨、产品锌 13.16 万吨、铟锭 77.81 吨。全 年完成营业总收入 403 亿元（综合考虑供应链业务压缩和公司深加工产业板块调 整等因素）。 相关预算指标不代表公司对 2024 年度的盈利预测，也不构成对投资者实质 性承诺。 ...