证券代码：000975 证券简称：山金国际 公告编号：2025-041 一、重要提示 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到证监会指定媒体仔细阅读半年度报告全文。 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 □适用 √不适用 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 二、公司基本情况 1、公司简介 ■ 2、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ 3、公司股东数量及持股情况 单位：股 ■ 持股5%以上股东、前10名股东及前10名无限售流通股股东参与转融通业务出借股份情况 □适用 √不适用 前10名股东及前10名无限售流通股股东因转融通出借/归还原因导致较上期发生变化 □适用 √不适用 4、控股股东或实际控制人变更情况 控股股东报告期内变更 □适用 √不适用 公司报告期控股股东未发生变更。 实际控制人报告期内变更 □适用 √不适用 公司报告期实际 ...

Core Viewpoint - The stock price of Shanjin International is 18.10 yuan, reflecting a slight decline of 0.28% from the previous trading day, with a trading volume of 418,738 hands and a transaction amount of 757 million yuan [1] Financial Performance - For the first half of 2025, the company reported a revenue of 9.246 billion yuan, representing a year-on-year increase of 42.14% [1] - The net profit attributable to shareholders reached 1.596 billion yuan, marking a year-on-year growth of 48.43% [1] - The basic earnings per share stood at 0.5747 yuan [1] Market Activity - On August 18, the net inflow of main funds was 10.47 million yuan, accounting for 0.02% of the circulating market value [1] - Over the past five trading days, the cumulative net outflow of main funds was 44.0685 million yuan, representing 0.1% of the circulating market value [1]

Group 1 - The core viewpoint of the article is that Shanjin International (000975.SZ) has reported significant growth in its financial performance for the first half of 2025, indicating a strong operational momentum [1] Group 2 - The company's operating revenue reached 9.246 billion yuan, representing a year-on-year increase of 42.14% [1] - The net profit attributable to shareholders of the listed company was 1.596 billion yuan, showing a year-on-year growth of 48.43% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 1.598 billion yuan, reflecting a year-on-year increase of 41.87% [1] - The basic earnings per share stood at 0.5747 yuan [1]

Group 1 - The company achieved an operating revenue of 9.246 billion yuan in the first half of 2025, representing a year-on-year growth of 42.14% [1] - The net profit attributable to shareholders of the listed company was 1.596 billion yuan, reflecting a year-on-year increase of 48.43% [1] - The company plans not to distribute cash dividends, issue bonus shares, or increase share capital from reserves [1]

公司法定代表人： 刘钦 主管会计工作的公司负责人: 宋忠山 公司会计机构负责人：刘卫民 山金国际黄金股份有限公司 2025年半年度非经营性资金占用及其他关联资金往来情况汇总表 编制单位：山金国际黄金股份有限公司 单位：万元 | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的 | 上市公司核算的会计科目 | 2025年期初占用资金 | 2025年半年度占用累计发 | 2025年半年度占用资 | 2025年半年度偿还累计发 | 2025年6月30日期末占 | 占用形成原因 | 占用性质 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | 关联关系 | | 余额 | 生金额（不含利息） | 金的利息(如有） | 生金额 | 用资金余额 | | | | 控股股东、实际控制人及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | | | | | 前控股股东、实际控制人及其附属企业 | | | | | | | | | | | | 小计 | | | | | | | | ...

山金国际黄金股份有限公司 2025 年半年度财务报告 山金国际黄金股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 山金国际黄金股份有限公司 2025 年半年度财务报告 财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：山金国际黄金股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 4,832,239,839.29 | 2,870,306,139.06 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | | 1,256,709,687.04 | | 衍生金融资产 | 22,880,695.29 | 1,919,103.18 | | 应收票据 | | | | 应收账款 | 40,849,196.64 | 21,112,052.01 | | 应收款项融资 | | | | 预付款项 | 48,200,519.72 | 16,74 ...

Group 1 - The core viewpoint of the article highlights the significant growth in the financial performance of Shanjin International, with a reported revenue of approximately 9.246 billion yuan for the first half of 2025, representing a year-on-year increase of 42.14% [1] - The net profit attributable to shareholders of the listed company is approximately 1.596 billion yuan, reflecting a year-on-year increase of 48.43% [1] - The basic earnings per share is reported at 0.5747 yuan, which is an increase of 48.42% compared to the previous year [1] Group 2 - The article also mentions the increasing impact of high temperatures on the economy, with an average annual increase of 25% in high-temperature days in China over the past decade [1] - Experts from the National Climate Center provide insights into the economic implications of rising temperatures, indicating a growing concern for the economic landscape [1]

山金国际黄金股份有限公司 2025 年半年度报告全文 山金国际黄金股份有限公司 2025 年半年度报告 2025 年 8 月 1 山金国际黄金股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人刘钦、主管会计工作负责人宋忠山及会计机构负责人(会计主 管人员)刘卫民声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 1、公司主营业务可能存在金属价格波动、安全和环保及资源管理等风险， 敬请广大投资者注意投资风险。 2、公司已在本报告"第三节 管理层讨论与分析"中"十、公司面临的风 险和应对措施"部分，对可能面临的风险进行描述，敬请广大投资者留意查 阅。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 第一节 | 重要提示、目录和释义 2 | | --- | --- | | 第二节 | 公司简介和主要财务指标 6 | | 第三节 | 管理层讨论与分析 8 | | 第四 ...

Core Viewpoint - The stock of Shanjin International (000975) has shown a slight decline, with recent trading data indicating mixed capital flows and a strong performance in financial metrics compared to industry averages [1][3]. Group 1: Stock Performance - As of August 15, 2025, Shanjin International closed at 18.15 yuan, down 0.33%, with a turnover rate of 1.13% and a trading volume of 286,100 hands, resulting in a transaction amount of 518 million yuan [1]. - The net inflow of main funds on August 15 was 36.33 million yuan, accounting for 7.01% of the total transaction amount, while retail investors saw a net outflow of 34.51 million yuan, representing 6.66% of the total [1]. Group 2: Financing and Margin Trading - On August 15, the financing buy amounted to 50.07 million yuan, with a net financing buy of 17.97 million yuan after accounting for repayments [1][2]. - The total margin trading balance stood at 886 million yuan, with a margin balance of 1.03 million yuan [1][2]. Group 3: Financial Metrics and Industry Comparison - Shanjin International's Q1 2025 report showed a main revenue of 4.32 billion yuan, a year-on-year increase of 55.84%, and a net profit of 694 million yuan, up 37.91% [3]. - The company ranks third in the precious metals industry for total market value (50.398 billion yuan), net assets (15.591 billion yuan), and net profit (694 million yuan) [3]. - Key financial ratios include a price-to-earnings ratio of 18.16 and a price-to-book ratio of 3.98, both indicating strong performance relative to industry averages [3]. Group 4: Analyst Ratings and Price Targets - Over the past 90 days, three institutions have rated Shanjin International as a buy, with an average target price of 24.4 yuan [4].

Investment Rating - The report maintains an "Accumulate" rating for the industry [5] Core Views - The report highlights that the supply expectations for copper are further tightening, leading to a robust performance in copper prices. Additionally, the gold market is expected to benefit from rising inflation expectations in the U.S. due to tariff disturbances [1][38] Summary by Sections 1. Weekly Data Tracking - The non-ferrous metal sector has generally seen an increase this week [13] - Price fluctuations among non-ferrous metals varied, with some prices rising while others fell [23] 2. Industrial Metals - **Copper**: Supply expectations are tightening, with global copper inventories increasing by 0.84 thousand tons. Chile's copper production growth forecast for 2025 has been significantly reduced [2] - **Aluminum**: The aluminum market is experiencing short-term fluctuations due to macroeconomic sentiments, with a slight increase in supply and moderate demand [2] 3. Energy Metals - **Lithium**: Supply disruptions are causing lithium prices to rebound strongly, with prices for battery-grade lithium carbonate rising by 15% to 83,000 CNY/ton [3] - **Metal Silicon**: The market remains stable with no significant changes in the fundamentals, and prices are expected to fluctuate in the short term [3] 4. Precious Metals - The gold market is influenced by U.S. inflation data, with a notable increase in the PPI to 3.7% in July, leading to expectations of continued upward pressure on gold prices [1][38] 5. Key Stocks - The report suggests focusing on specific stocks such as Zijin Mining, Shandong Gold, and others, which are expected to perform well in the current market conditions [1][2][3]