证券代码：000970 证券简称：中科三环 公告编号：2025-026 北京中科三环高技术股份有限公司 关于为控股子公司提供担保的进展公告 本公司及其董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、担保情况概述 近日，北京中科三环高技术股份有限公司（以下简称"公司"）之控股子 公司天津三环乐喜新材料有限公司（以下简称"三环乐喜"）与中国农业银行 股份有限公司天津经济技术开发区分行（以下简称"农业银行"）签订了《流 动资金借款合同》，由农业银行向三环乐喜提供人民币10,000万元借款（借款 期限2年），公司为上述借款提供担保。 公司于2025年3月11日召开了第九届董事会第八次会议，于2025年4月8日召 开了2024年年度股东大会，分别审议通过了《关于为控股子公司提供担保的议 案》，其中为三环乐喜提供的担保额度为人民币110,000万元。具体内容详见公 司于2025年3月13日和2025年4月9日在《证券时报》、《中国证券报》、《证券 日报》和巨潮资讯网（http://www.cninfo.com.cn）上披露的《北京中科三环 高技术股份有限公司第九届董事会第八次 ...

5月6日，A股三大指数集体高开。截至1 0 : 0 0，创业板指涨至1 . 4 3%。市场上，4 5 8 5只个股上 涨。 本期编辑 金珊 21君荐读 关于胖东来玉石，市监通报来了！此前被网红怼"玉石获百倍暴利" 深夜，伯克希尔大跌 雷军，职务调整！ 板块方面，黄金、稀土永磁、消费电子、服务器、CPO、算力、机器人、6G、金融科技指数 等纷纷走强。 其 中 ， 稀 土 永 磁 概 念 股 震 荡 走 高 ， 盛 和 资 源 涨 停 ， 九 菱 科 技 、 大 地 熊 、 龙 磁 科 技 、 广 晟 有 色、银河磁体、中国稀土涨超5%，中科三环、天和磁材、正海磁材等跟涨。 消息面上，截至5月1日，欧洲镝价已自4月初以来上涨两倍，达到8 5 0美元/公斤；铽价从9 6 5 美元/公斤上涨至3 0 0 0美元/公斤，累计涨幅超2 1 0%。 来源 | 财联社、Wi n d、公开信息等 SFC | 上证指数 | 北证50 深证成指 | | --- | --- | | 3297.87 | 10014.66 1355.19 +18.84 +0.57% +114.83 +1.16% +24.05 +1.81% | | 科创 ...

Industry Overview - Rare earth elements are a group of metals known as "industrial vitamins," consisting of 17 elements including lanthanides and similar elements like scandium and yttrium [1] - The rare earth industry is divided into several steps: mining, smelting, separation, and processing, with applications in wind power, electric vehicles, and smart manufacturing [4][5] Industry Development - China's rare earth production accounts for nearly 70% of global output, with an estimated production of 270,000 tons in 2024 [8] - The revenue of China's rare earth industry has fluctuated, increasing from 247.75 billion yuan in 2019 to 381.56 billion yuan in 2022, with a projected market size of 346.89 billion yuan for 2024 [17][18] Competitive Landscape - The majority of rare earth mining companies are located in Jiangxi and Inner Mongolia, with Jiangxi having the highest number of companies at 197 [23] - Shenghe Resources has the largest revenue in the rare earth sector, with an estimated revenue of 5.44 billion yuan in the first half of 2024, while Xiamen Tungsten achieved over 20% growth in the same period [25] Policy Direction - The Chinese government emphasizes the protection and innovation of the rare earth industry, with multiple policies aimed at supporting and regulating its development [11][13] Future Trends - The demand for rare earth recycling is expected to grow due to the non-renewable nature of these resources and the tightening supply-demand dynamics [28]

"稀土管制让美国慌了" 美军工稀土储备仅够数月 特朗普当地时间4月24日签署行政令允许海底采矿，外媒称此举旨在加大对深海稀土矿物开采力度。白宫前高级经济官 员、美国前国际贸易谈判代表罗德曼则指出："中国对稀土实施出口管制的信号已经让美国政府感到慌乱，美国军工企 业稀土储备仅够支撑数月。"这一判断直指核心敏感问题：稀土材料对美国军事工业链的高度依赖性。 以下是一些A股稀土永磁题材概念股及解析： 中国稀土（000831）：国内中重稀土整合平台，由国资委直接控股，承担国家稀土资源战略运营任务，拥有领先的资 源储备，掌控南方离子型稀土矿 40% 储量，在中重稀土方面具有重要地位，受益于资源定价权提升。 中国稀土行业迎来开门红，多家上市公司一季度业绩大幅向好。中国稀土一季度实现营收7.28亿元，同比增长 141.32%，净利润7261.81万元，主要原因是稀土市场部分产品价格回升，公司调整了销售策略，营业收入增加，成功 扭亏为盈。北方稀土更是预计一季度净利润同比增长超过716%，达到4.25亿-4.35亿元。广晟有色同样实现扭亏，预计 净利润4000万-5000万元。这一系列亮眼业绩表明稀土行业已开始企稳回升。 北方稀 ...

转自：前瞻产业研究院 行业主要上市公司：北方稀土(600111);中国稀土(000831);广晟有色(600259);厦门钨业(600549);中科三环 (000970);英洛华(000795)等 本文核心数据：全球稀土储量;全球稀土产量 全球主要大型稀土矿床及矿石类型 经过半个多世纪的超强度开采，中国稀土储量下降明显。除中国外，美国、澳大利亚、俄罗斯、巴西、加拿 大、印度等国的稀土资源也较为丰富。近年来，在越南也发现了大型稀土矿床。非洲大陆也蕴藏着丰富的稀 土资源。目前，全球大约有30多个国家和地方发现了稀土资源或从事稀土生产，主要稀土资源国中有一批大 型或以超大型稀土矿床。 全球稀土储量下滑，中国为最大稀土资源国 据美国地质调查局(USGS)数据，2024，全球已探明稀土资源储量0.9亿吨，已连续两年出现较大的下滑。 全球稀土资源部分不均，高度集中在中国、越南、巴西和俄罗斯四大国家。根据最新美国地质调查局 (USGS)数据显示，截至2024年末，全球已探明稀土资源储量9000万吨，其中，中国稀土资源储量4400万 吨，是世界最大稀土资源国;巴西稀土储量位列第二，为2100万吨;其次是印度和澳大利亚，稀土资 ...

Group 1: Market Outlook and Export Impact - The company anticipates that rare earth prices will remain relatively stable at reasonable levels, influenced by supply-demand dynamics, policies, and industry developments [1] - The direct export proportion of the company's products to the United States is approximately 10% [1] - The company is actively taking measures to comply with export control regulations, particularly for products containing dysprosium and terbium [1] Group 2: Product Applications and Future Planning - The company's products are already applied in the drone sector, which is expected to expand the market demand for rare earth permanent materials [2] - The company has been involved in the industrial robot sector for several years, with humanoid robots currently in the research phase, which could positively impact the industry upon successful market introduction [1] - Future capacity expansion plans will be based on order volumes and market demand, avoiding blind expansion [2]

Investment Rating - The report maintains a "Buy" rating for the company [5] Core Views - The company's revenue for Q1 2025 was 1.461 billion RMB, showing a quarter-on-quarter decline of 17.43% and a year-on-year decline of 11.58%. The net profit attributable to the parent company was 0.13 billion RMB, reflecting a significant quarter-on-quarter drop of 75.05% but a year-on-year turnaround from a loss [2] - The decline in performance is attributed to falling prices, with Q1 2025 revenue, gross profit, and gross margin decreasing by 17.41%, 36.18%, and 2.56 percentage points, respectively. The overall cost of rare earth materials increased, leading to a significant drop in gross margin [3] - The company is expected to benefit from rising rare earth prices due to export controls and a contraction in overseas mining supply. The demand for rare earths is anticipated to improve, particularly in the fields of humanoid robots and low-altitude economies [4] Summary by Sections Financial Performance - Q1 2025 revenue was 1.461 billion RMB, with a gross profit of 0.127 billion RMB and a gross margin of 8.69% [2][3] - The company's debt-to-asset ratio improved to 25.70%, with a decrease in operating expenses by 30.92% year-on-year to 0.105 billion RMB [3] Revenue and Profit Forecast - Projected revenues for 2025-2027 are 6.548 billion RMB, 6.802 billion RMB, and 7.151 billion RMB, respectively. The net profit attributable to the parent company is expected to be 0.93 billion RMB, 1.74 billion RMB, and 1.96 billion RMB for the same period [5] Market Outlook - The report highlights a favorable market environment for rare earths, with expected demand growth driven by technological advancements and supply constraints. The company is well-positioned to capitalize on these trends due to its significant use of heavy rare earths in its product structure [4]

Core Viewpoint - The company has released its first quarter report for 2025, which has not been audited, and it includes various financial data and changes compared to the previous period [15]. Financial Data Summary - The company reported a net profit attributable to the parent company of 13.49 million yuan, an increase of 113.66% compared to the previous period, primarily due to a decrease in inventory impairment losses [10]. - The net cash flow from operating activities was 98.45 million yuan, a decrease of 41.84% compared to the previous period, mainly due to a reduction in cash received from sales [10]. - The net cash outflow from investment activities was 37.49 million yuan, a decrease of 70.14% compared to the previous period, attributed to an increase in cash received from investment recoveries [10]. - The net cash outflow from financing activities was 222.63 million yuan, an increase of 404.58% compared to the previous period, mainly due to increased cash payments for profit distribution by subsidiaries [10]. - The balance of accounts receivable at the end of the period was 12.36 million yuan, a decrease of 32.66% from the beginning of the period, mainly due to a reduction in receivables held by subsidiaries [4]. - The balance of other receivables at the end of the period was 29.41 million yuan, a decrease of 39.81% from the beginning of the period, primarily due to the recovery of export tax refunds by subsidiaries [5]. - The balance of other non-current assets at the end of the period was 91.93 million yuan, an increase of 176.40% from the beginning of the period, mainly due to an increase in prepayments for equipment by subsidiaries [6]. - The balance of contract liabilities at the end of the period was 116.06 million yuan, a decrease of 37.97% from the beginning of the period, mainly due to a reduction in advance customer payments [6]. - The balance of taxes payable at the end of the period was 27.66 million yuan, a decrease of 47.26% from the beginning of the period, mainly due to a reduction in tax payments this period [7]. - The financial expenses for the period amounted to -28.57 million yuan, a decrease of 410.14% compared to the previous period, mainly due to an increase in net exchange gains [8]. - The other income for the period was 13.14 million yuan, a decrease of 46.01% compared to the previous period, primarily due to a reduction in government subsidies [9]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was not specified, but the company held 12,157,235 circulating shares in its repurchase account, accounting for 1.00% of the total share capital [12].

Financial Performance - The company reported a basic earnings per share of 0.0112 yuan for Q1 2025, a significant increase of 113.79% compared to a loss of 0.0812 yuan in Q1 2024 [1] - Net profit for Q1 2025 was 0.13 billion yuan, recovering from a loss of 0.99 billion yuan in Q1 2024, marking an increase of 113.13% [1] - Operating revenue decreased by 11.56% to 14.61 billion yuan in Q1 2025 from 16.52 billion yuan in Q1 2024 [1] - The return on equity improved to 0.21% in Q1 2025 from -1.51% in Q1 2024 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 46,597.42 million shares, accounting for 38.33% of the circulating shares, with an increase of 976.18 million shares compared to the previous period [1] - Beijing Sanhuan Holdings Co., Ltd. remains the largest shareholder with 28,388.13 million shares, representing 23.35% of the total share capital [2] - Hong Kong Central Clearing Limited increased its holdings by 779.99 million shares, now holding 4,104.34 million shares, which is 3.38% of the total [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]

Financial Performance - The company's revenue for Q1 2025 was ¥1,460,741,260.74, a decrease of 11.58% compared to ¥1,651,964,882.70 in the same period last year[5] - Net profit attributable to shareholders was ¥13,489,994.31, representing a significant increase of 113.66% from a loss of ¥98,739,954.97 in the previous year[5] - Basic earnings per share improved to ¥0.0112 from a loss of ¥0.0812, marking an increase of 113.79%[5] - Net profit for the current period is ¥19,957,569.22, compared to a net loss of ¥111,252,475.90 in the previous period[37] - The total comprehensive income for the current period is ¥19,906,413.34, compared to a loss of ¥111,060,417.02 in the previous period[38] Cash Flow - The net cash flow from operating activities decreased by 41.84% to ¥98,445,938.12, down from ¥169,268,944.82 in the previous year[5] - The net cash flow from investing activities was -$37.49 million, compared to -$125.55 million in the previous period, indicating an improvement[40] - The net cash flow from financing activities was -$222.63 million, compared to -$44.12 million previously, reflecting increased cash outflows[40] - Cash paid for the distribution of dividends and interest was $292.55 million, significantly higher than $10.62 million in the previous period[40] Assets and Liabilities - Total assets at the end of the reporting period were ¥9,928,305,406.54, a decrease of 4.14% from ¥10,356,801,171.40 at the end of the previous year[5] - Total current assets decreased from CNY 7,572,044,376.13 to CNY 7,118,830,265.05, a reduction of approximately 6%[33] - Total liabilities decreased from CNY 2,480,714,968.75 to CNY 2,290,319,232.23, a reduction of about 7.7%[34] - Total liabilities amount to ¥2,551,145,761.94, down from ¥2,716,459,910.07 in the previous period[35] Shareholder Information - Total equity attributable to shareholders increased slightly by 0.25% to ¥6,455,109,634.26 from ¥6,439,223,122.22 at the end of the previous year[5] - Total equity attributable to shareholders of the parent company is ¥6,455,109,634.26, slightly up from ¥6,439,223,122.22 in the previous period[35] - Total number of common shareholders at the end of the reporting period is 79,839[30] - The largest shareholder, Beijing Sanhuan Holdings Co., Ltd., holds 23.35% of shares, totaling 283,881,263 shares, with 38,000,000 shares pledged[30] Operating Costs and Expenses - Total operating costs for the current period are ¥1,443,594,566.74, down 12.51% from ¥1,649,564,773.14 in the previous period[36] - The company reported a decrease in research and development expenses to ¥31,360,953.38 from ¥35,634,398.59, a reduction of 11.88%[36] - Other income for the current period is ¥13,139,394.37, down from ¥24,335,516.17 in the previous period[36] Cash and Equivalents - Cash and cash equivalents decreased from CNY 2,459,210,121.86 to CNY 2,278,352,415.87, a decline of about 7.4%[33] - The ending balance of cash and cash equivalents was $2.24 billion, down from $2.29 billion at the end of the previous period[40]