中信建投证券股份有限公司 中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐人"）作 为四川黄金股份有限公司（以下简称"四川黄金"或"公司"）首次公开发行股 票并上市的保荐机构，根据《证券发行上市保荐业务管理办法》《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》等相关规定，对四川黄金 2025 年度日常关联交易确认情况进行 了审慎核查，具体情况如下： 一、日常关联交易基本情况 （一）日常关联交易概述 四川黄金基于日常经营业务需要和历史合作等因素，在 2025 年度继续与公 司实际控制人四川省地质矿产勘查开发局（简称"省地质局"）的下属单位或企 业发生接受劳务的关联交易，与 5%以上的股东紫金矿业集团南方投资有限公司 的关联企业贵州紫金矿业股份有限公司（简称"贵州紫金"）产生销售商品的关 联交易。接受劳务的关联交易主要包括采购地质勘探、地质工程、矿山生态修复 等矿山服务。销售商品的关联交易为向关联方销售金精矿。 （二）2025 年度日常关联交易实际发生情况 公司2025年3月27日召开第二届董事会第五次会议审议通过了《关于2025年 度日常关联交 ...

四川黄金股份有限公司 关于 2025 年度日常关联交易确认的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、日常关联交易基本情况 （一）日常关联交易概述 四川黄金股份有限公司（以下简称"公司"）基于日常经营业务需要和历史合作 等因素，在2025年度继续与公司实际控制人四川省地质矿产勘查开发局（简称"省 地质局"）的下属单位或企业发生接受劳务的关联交易，与5%以上的股东紫金矿业 集团南方投资有限公司的关联企业贵州紫金矿业股份有限公司（简称"贵州紫金"） 产生销售商品的关联交易。接受劳务的关联交易主要包括采购地质勘探、工程施 工、矿山技术服务等。销售商品的关联交易为向关联方销售金精矿。 （二）2025年度日常关联交易实际发生情况 证券代码：001337 证券简称：四川黄金 公告编号：2026-016 注：上表中实际发生金额系未经审计数据。 （三）2025年度销售商品的关联交易超出预计的主要原因 2025年，黄金价格超预期大幅上涨，Au9999年末收盘价较年初开盘价上涨 58.78%，致使公司对贵州紫金的销售单价也大幅上涨。最终，尽管向贵州紫金销 售量得到 ...

证券代码：001337 证券简称：四川黄金 公告编号：2026-017 四川黄金股份有限公司 关于 2026 年度日常关联交易预计的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、日常关联交易基本情况 （一）日常关联交易概述 四川黄金股份有限公司（以下简称"公司"）基于日常经营业务需要和历史合作 等因素，可能继续与公司实际控制人四川省地质矿产勘查开发局（简称"省地质局"） 的下属单位或企业发生接受劳务的关联交易，与5%以上的股东紫金矿业集团南方 投资有限公司的关联企业贵州紫金矿业股份有限公司（简称"贵州紫金"）产生销售 商品的关联交易。接受劳务的关联交易主要包括采购地质勘探、地质工程、矿山 生态修复等矿山服务。销售商品的关联交易为向关联方销售金精矿。 2026年度接受劳务的关联交易预计金额不超过32,900.00万元，销售商品的关 联交易金额预计不超过45,000.00万元。经第二届董事会独立董事专门会议2026年 第一次会议审核，以及2026年3月29日召开的第二届董事会第十五次会议，审议通 过了《关于2026年度日常关联交易预计的议案》。关联董事 ...

证券代码：001337 证券简称：四川黄金 公告编号：2026-015 二、会议审议情况 （一）审议通过了《关于2025年度日常关联交易确认的议案》 表决结果：同意8票；反对0票；弃权0票；回避4票。 关联董事冯希尧、吴安东、王兆成、徐碧良回避表决。 四川黄金股份有限公司 第二届董事会第十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、会议召开情况 2026 年 3 月 29 日，四川黄金股份有限公司（以下简称"公司"）第二届董事会 第十五次会议以通讯方式召开。本次会议通知于 2026 年 3 月 23 日以电子邮件或 电话等方式发出。本次会议由董事长冯希尧先生主持，应到董事 12 人，实到董事 12 人。本次会议的召集、召开、表决等程序符合《中华人民共和国公司法》及相 关法律法规和《公司章程》《董事会议事规则》的规定。 同意 2026 年度公司向关联方销售商品的关联交易金额不超过 4.5 亿元。 表决结果：同意 11 票；反对 0 票；弃权 0 票；回避 1 票。 与会董事一致同意该议案，并确认2025年度与四川省地质矿产勘查开发局下 ...

Investment Rating - The report maintains a "Recommendation" rating for the metals industry [2] Core Insights - The report highlights the potential benefits from geopolitical tensions in the Middle East, particularly focusing on aluminum and lithium tantalum as investment opportunities [1] - The aluminum market is expected to stabilize despite rising overseas premiums due to supply risks from regional conflicts [3] - The report emphasizes the strong demand for lithium driven by the electric vehicle sector, with supply disruptions reinforcing this trend [4] Industry Overview - The metals industry has a total market capitalization of 742.82 billion, with 235 listed companies [2] - The industry index performance shows a 1-month decline of 12.8%, a 6-month increase of 26.7%, and a 12-month increase of 64.0% [3] - The non-ferrous metals sector has shown significant weekly performance, with energy metals up by 8.70% and small metals by 3.05% [3] Key Market Movements - The report notes that the largest weekly gain was seen in Rongjie Co., which increased by 46.95%, primarily due to its lithium-related business [3] - Conversely, Sichuan Gold experienced the largest decline at -7.40% due to market sentiment shifts [3] - The report identifies gallium as the top-performing non-ferrous metal this week, driven by tight supply conditions [3] Specific Metal Insights - Copper: Domestic copper social inventory decreased by 18.29% week-on-week, indicating a tightening supply [3] - Aluminum: Domestic electrolytic aluminum inventory reached 1.349 million tons, with signs of demand recovery from downstream sectors [3] - Lithium: The report anticipates continued strength in lithium prices due to robust demand and supply constraints [4] - Tungsten: The market is experiencing upward pressure on prices due to supply tightness and increased export interest from domestic producers [4] Investment Recommendations - The report suggests focusing on companies like Yunnan Aluminum, China Hongqiao, and Jiangxi Copper for potential investment opportunities in the aluminum sector [3] - For lithium, companies such as Ganfeng Lithium and Tianqi Lithium are highlighted as key players to watch [4] - In the tungsten market, attention is drawn to companies like China Tungsten and Xiamen Tungsten [4]

Market Overview - The three major indices opened lower and experienced a significant drop of over 4% during the day, with panic selling emerging. The Shanghai Composite Index barely held above the 3800-point mark by the end of the trading session, erasing all gains made this year in one of the most severe single-day adjustments of the year [2][4]. Global Market Impact - The Hong Kong market also faced a sharp decline, with the Hang Seng Index dropping 3.54% to close at 24382.47 points, marking an 8-month low. The Hang Seng Tech Index fell 3.28% to 4712.48 points. Globally, markets were under pressure, with major Asian indices closing mostly lower, including a 3.48% drop in Japan's Nikkei 225 and a 6.49% decline in South Korea's composite index [5][7]. Investor Sentiment - A fund manager indicated that the primary reasons for the market drop were the turmoil in Iran and rising expectations of interest rate hikes by the Federal Reserve, leading to a contraction in global risk appetite. The current market decline is seen more as a release of investor sentiment rather than a fundamental change in the performance of listed companies [7]. Sector Performance - The precious metals sector in A-shares experienced a significant drop, with companies like Chifeng Jilong Gold Mining and Shengda Resources hitting trading limits. This decline followed a nearly 10% drop in international gold prices and over 14% drop in silver prices in the previous week [9][10]. Oil Price Influence - Recent market turmoil is linked to rising oil prices, which have surpassed $100 due to the US-Iran conflict, intensifying inflation concerns. This has led to decreased expectations for interest rate cuts by the Federal Reserve and even increased expectations for rate hikes, contributing to the global stock market downturn [12][14]. Long-term Outlook - Despite the short-term liquidity squeeze affecting gold, the long-term investment logic remains intact. Historical performance shows that gold has effectively hedged against geopolitical, macroeconomic, and policy risks [11]. The current investment environment is complex, with concerns about energy prices and their long-term impact on the global economy [15].

证券代码：001337 证券简称：四川黄金 公告编号：2026-014 四川黄金股份有限公司 关于使用自有闲置资金进行现金管理的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 2026 年 3 月 13 日，四川黄金股份有限公司（以下简称"公司"）召开第二 届董事会第十四次会议，审议通过了《关于使用自有闲置资金进行现金管理的议 案》。董事会同意公司在保证正常运营、资金安全和确保流动性的前提下，使用 不超过 3.00 亿元人民币的自有闲置资金进行现金管理。投资期限为自第二届董 事会第十四次会议审议通过之日起 12 个月内，并按前述额度和期限范围，循环 滚动使用。 本事项不构成关联交易。根据《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》等有关规定， 本议案无需提交公司股东会审议。 一、投资情况概述 1、投资目的：为提高资金使用效率，合理利用闲置资金，在不影响公司正 常经营的前提下，利用闲置自有资金进行现金管理增加收益。 4、实施方式：本次现金管理事项在公司董事会审批权限范围内，无需提交 股东会审议。 ...

第二届董事会第十四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、会议召开情况 2026 年 3 月 13 日，四川黄金股份有限公司（以下简称"公司"）第二届董事 会第十四次会议以通讯方式召开。本次会议通知于 2026 年 3 月 10 日以电子邮件 或电话等方式发出。本次会议由董事长冯希尧先生主持，应到董事 12 人，实到 董事 12 人。本次会议的召集、召开、表决等程序符合《中华人民共和国公司法》 及相关法律法规和《公司章程》《董事会议事规则》的规定。 二、会议审议情况 证券代码：001337 证券简称：四川黄金 公告编号：2026-013 四川黄金股份有限公司 2、审议通过了《关于向银行申请综合授信额度的议案》 同意向银行申请不超过10.00亿元人民币的综合授信额度。授信具体金额及 业务品种以银行审批为准，包括但不限于流动资金贷款、银行承兑汇票、银行保 函等业务。授信有效期为自第二届董事会第十四次会议审议通过之日起12个月。 1 上述授信额度不等于公司实际融资金额，实际融资金额、期限、利率等条件 以公司与银行签订的合同为准。在上述授信 ...

Core Viewpoint - The A-share gold and jewelry index experienced a significant decline, with major companies like Mankalon and Western Gold seeing drops of over 10% and 6% respectively, reversing the strong performance of previous trading days [1][2]. Market Performance - As of March 4, the gold and jewelry index was at 2928.49, down 3.03% [2]. - Mankalon (300945.SZ) was priced at 19.61, down 10.42%, while Western Gold (601069.SH) was at 38.35, down 6.35% [2]. - Other companies such as Sichuan Gold (001337.SZ) and Zhao Jin Gold (000506.SZ) also saw declines of over 4% [2][3]. Price Fluctuations - On March 3, gold prices saw a sharp drop, with COMEX gold futures falling over 5% and spot gold dropping more than 6%, breaking below the critical $5000 per ounce mark [3]. - By March 4, there was a recovery, with spot gold rising over 1% to $5159.19 per ounce [4]. Market Analysis - The recent volatility in gold and silver prices is attributed to profit-taking after a surge in response to geopolitical tensions, alongside expectations of potential changes in monetary policy due to rising oil prices [4][5]. - Analysts suggest that if oil prices continue to rise, it could push U.S. inflation above 3%, leading to a tightening of monetary policy by the Federal Reserve, which would negatively impact gold and silver prices [4][5]. Geopolitical Factors - The situation in the Middle East, particularly regarding Iran's control over the Strait of Hormuz, is causing concerns about oil supply disruptions, which could further influence inflation expectations and monetary policy [5][6]. - The uncertainty surrounding U.S. military involvement in Iran and its implications for global oil prices is a critical factor for the gold market [7][8]. Long-term Outlook - Despite short-term pressures, the long-term outlook for gold remains positive due to ongoing geopolitical uncertainties and the potential for continued central bank demand for gold [8]. - Analysts caution that while gold prices may experience high volatility in the short term, the fundamental drivers for gold's value, such as geopolitical risks and monetary policy shifts, remain intact [8].

Core Viewpoint - A total of 30 companies will have their restricted shares unlocked next week, with a combined total of 1.406 billion shares, amounting to a market value of 36.277 billion yuan based on the closing price on February 27 [1] Group 1: Unlocking Schedule and Market Value - March 2 is identified as the peak unlocking day, with 14 companies unlocking shares worth a total of 21.617 billion yuan, accounting for 59.58% of the total unlocking scale for the week [1] - The top three companies by unlocking market value are: Microelectronic Physiology (8.094 billion yuan), Sichuan Gold (6.665 billion yuan), and Jinhaitong (4.976 billion yuan) [1] Group 2: Unlocking Volume by Company - The companies with the highest unlocking share volumes are: China National Materials International (367 million shares), Microelectronic Physiology (346 million shares), and Sichuan Gold (132 million shares) [1] Group 3: Types of Unlocking Shares - The types of unlocked shares include: 16 from original shareholders of the initial public offering (IPO), 5 from directed placement institutions, 3 from equity incentive restricted shares, 2 from strategic placement of the IPO, 1 from general equity incentive shares, 1 from original shareholders of the IPO and strategic placement, 1 from institutional placement of the IPO, and 1 from original shareholders of the IPO and other types [1]