证券代码：002057 证券简称：中钢天源 公告编号：2025-052 中钢天源股份有限公司 关于续聘 2025 年度审计机构的公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 中钢天源股份有限公司（以下简称"中钢天源"或"公司"）于 2025 年 10 月 24 日召开第八届董事会第八次（临时）会议，审议通过了《关于续聘 2025 年度审计机构的议案》，同意续聘中审众环会计师事务所（特殊普通合伙）为公 司 2025 年度审计机构，聘期一年。本次续聘中审众环会计师事务所（特殊普通 合伙）的审议和决策程序符合财政部、国务院国资委、证监会印发的《国有企业、 上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号）（以下简称"《选 聘办法》"）的规定。该事项尚需提交公司股东会审议。现将相关事项公告如下： 一、拟续聘的会计师事务所的情况说明 中审众环会计师事务所（特殊普通合伙）是一家具有证券、期货相关业务资 格的会计师事务所，具备多年为上市公司提供审计服务的丰富经验和能力，能够 遵循独立、客观、公正的职业准则，恪尽职守地提供高质量审计服务。 该所在为公司提供审计服 ...

证券代码：002057 证券简称：中钢天源 公告编号：2025-051 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、关联交易概述 1.中钢天源股份有限公司（以下简称"公司"）拟与宝武集团财务有限责任公 司（以下简称"宝武财务公司"）签署《金融服务协议》。 2.宝武财务公司是本公司间接控股股东中国宝武钢铁集团有限公司（以下简称 "中国宝武"）下属子公司，根据《深圳证券交易所股票上市规则》之规定，本次 交易属于关联交易。 3.经公司第八届董事会独立董事2025年第三次专门会议审议通过，同意提交董 事会审议，公司于2025年10月24日召开第八届董事会第八次（临时）会议、审计委 员会2025年第四次会议，审议通过了《关于与宝武集团财务有限责任公司签署〈金 融服务协议〉暨关联交易的议案》，公司关联董事对该议案进行了回避表决。该议 案尚需提交公司股东会审议，关联股东应回避表决。 4.本次交易不构成《上市公司重大资产重组管理办法》规定的重大资产重组， 不构成重组上市。 | 公司名称 | 宝武集团财务有限责任公司 | | --- | --- | | 统一社会信用代码 ...

中钢天源股份有限公司 关于召开 2025 年第三次临时股东会的通知 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。 证券代码：002057 证券简称：中钢天源 公告编号：2025-053 重要提示： 一、召开会议的基本情况 1.股东会届次：2025 年第三次临时股东会 2.股东会的召集人：董事会 3.本次会议的召集、召开符合《中华人民共和国公司法》《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》等法律、 行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4.会议时间： （1）现场会议时间：2025 年 11 月 11 日 14:00 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 11 月 11 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票 的具体时间为 2025 年 11 月 11 日 9:15 至 15:00 的任意时间。 5.会议的召开方式：现场表决与网络投票相结合。 6.会议的股权登记日：202 ...

证券代码：002057 证券简称：中钢天源 公告编号：2025-049 中钢天源股份有限公司 第八届董事会第八次（临时）会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 中钢天源股份有限公司（以下简称"公司"）第八届董事会第八次（临时） 会议于 2025 年 10 月 24 日（星期五）以通讯方式召开。会议通知已于 2025 年 10 月 22 日通过专人及电讯方式送达各位董事。本次会议应出席董事 9 人，实际 出席董事 9 人。会议由董事长毛海波先生主持，公司部分高管列席。会议召开符 合有关法律法规、规章和《公司章程》的规定。 经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 （一）审议通过《2025 年第三季度报告》 公司《2025 年第三季度报告》详见公司指定信息披露网站巨潮资讯网 （www.cninfo.com.cn），同时刊登在 2025 年 10 月 27 日的《证券时报》《中国 证券报》和《上海证券报》上。 表决结果：9 票同意，0 票反对，0 票弃权。 本议案已经公司审计委员会审议通过。 （二 ...

Financial Performance - The company's operating revenue for the third quarter reached ¥803,350,270.98, representing a year-on-year increase of 21.36%[5] - Net profit attributable to shareholders was ¥74,921,145.45, up 37.16% compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was ¥72,493,459.79, reflecting a 45.62% increase year-on-year[5] - Basic and diluted earnings per share were both ¥0.0994, marking a 37.67% increase from the previous year[5] - The company reported a significant increase in operating profit of 40.99%, totaling ¥290,737,032.11[9] - The total profit for the period was ¥291,060,899.15, reflecting a 41.61% increase year-on-year[9] - Total operating revenue for Q3 2025 reached CNY 2,320,283,542.94, an increase of 18.4% compared to CNY 1,959,192,962.44 in the same period last year[17] - Net profit for the period was CNY 259,718,656.15, representing a 41.6% increase from CNY 183,441,016.10 in the previous year[18] - Basic and diluted earnings per share increased to CNY 0.2930 from CNY 0.2074, reflecting a rise of about 41.3%[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥5,315,984,952.64, a 1.22% increase from the end of the previous year[5] - Total assets as of Q3 2025 were CNY 5,315,984,952.64, slightly up from CNY 5,251,725,630.14 at the end of the previous period[16] - Total liabilities decreased to CNY 1,640,957,991.20 from CNY 1,740,412,616.86, reflecting improved financial stability[16] - Shareholders' equity attributable to the parent company was ¥3,238,027,698.79, up 4.65% from the previous year[5] - The equity attributable to shareholders rose to CNY 3,238,027,698.79, compared to CNY 3,094,178,362.15 in the previous year, showing growth in shareholder value[16] Cash Flow - Cash flow from operating activities showed a net amount of ¥229,386,480.32, an increase of 3.25% year-to-date[5] - Cash flow from operating activities generated a net amount of CNY 229,386,480.32, compared to CNY 222,167,693.59 in the prior period, showing a slight increase of 3.4%[21] - Cash inflow from operating activities totaled CNY 2,166,388,587.57, up from CNY 1,937,159,403.60, indicating a growth of approximately 11.8%[20] - Cash outflow from investing activities was CNY 683,272,048.09, significantly higher than CNY 84,219,104.55 in the previous period, marking an increase of over 707%[21] - Net cash flow from investing activities was negative at CNY -542,318,844.22, compared to CNY -83,741,794.76 in the prior period[21] - Cash flow from financing activities resulted in a net outflow of CNY -202,801,331.59, compared to CNY -174,228,934.72 in the previous period[21] - The ending balance of cash and cash equivalents was CNY 515,634,617.22, down from CNY 1,004,567,164.53 in the prior period, a decrease of approximately 48.7%[21] - The company received CNY 110,000,000.00 related to investment activities, which was not present in the previous period[21] - The company reported a total cash inflow from financing activities of CNY 965,066,514.54, an increase from CNY 759,221,933.76 in the prior period, reflecting a growth of about 27.1%[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 56,625[11] - The largest shareholder, China Steel Capital Holdings, holds 17.67% of shares, totaling 133,245,380 shares, with 58,183,080 shares pledged[11] - The top ten shareholders are primarily state-owned entities, indicating a concentrated ownership structure[12] - The total number of shares held by the top ten unrestricted shareholders is 133,245,380 shares[11] Inventory and Receivables - Accounts receivable stands at ¥1,173,893,333.06, slightly down from ¥1,176,584,123.59 at the beginning of the period[14] - Inventory increased to ¥451,351,836.78 from ¥401,949,917.26 at the beginning of the period[14] - The company reported an increase in receivables financing to ¥145,003,613.49 from ¥99,874,555.69[14] Research and Development - Research and development expenses increased to CNY 107,275,702.78, up from CNY 98,051,765.78, indicating a focus on innovation[18] - The company has not disclosed any new product developments or market expansion strategies in the current reporting period[12] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[18] Borrowings - The company experienced a 59.74% reduction in short-term borrowings, decreasing to ¥78,499,565.84 due to loan repayments[9] - The increase in short-term borrowings to CNY 78,499,565.84 from CNY 195,005,657.04 indicates a strategic shift in financing[16]

Core Viewpoint - The article discusses China's strict export controls on rare earth elements, which are crucial for the semiconductor and military industries, highlighting the strategic implications for global supply chains and the competitive landscape between China and the U.S. [2][4][17] Semiconductor Industry - The semiconductor industry is heavily reliant on rare earth elements, with every item on the control list corresponding to critical processes, achieving 100% coverage [6][12]. - Key applications include chemical mechanical polishing (CMP) using high-purity cerium oxide, essential for achieving atomic-level flatness in wafers, with significant implications for chip yield [12][6]. - The EUV lithography machines, vital for advanced chip manufacturing, depend entirely on controlled rare earth materials, with no substitutes available [9][10]. Military Applications - Rare earth elements are termed "war metals" in defense, with 87% of U.S. weapon systems relying on these materials, which lack mature alternatives [17][18]. - The F-35 fighter jet requires 417 kg of rare earth materials, with critical components sourced from China, indicating a significant vulnerability in U.S. military capabilities [19][22]. - The Virginia-class submarines and missile systems also depend on rare earth materials for performance and reliability, underscoring the strategic importance of these resources [24][27]. Domestic Rare Earth Industry - China's rare earth industry is characterized by a complete ecosystem from mining to application, with six major groups controlling over 90% of resources and refining capacity [32][31]. - The industry has seen significant consolidation, enhancing resource utilization and technological collaboration, which supports the effective implementation of export controls [35][34]. Strategic Value of Export Controls - The export controls are not merely supply restrictions but represent a strategic shift from resource-based to value-driven industry leadership, reshaping global supply dynamics [37][36]. - The controls have led to a significant increase in prices and profit margins for domestic rare earth companies, breaking the previous low-price export model [38][39]. Impact on the U.S. - The U.S. faces a critical dependency on China for rare earth imports, with 77% of its supply coming from China, leading to severe supply chain vulnerabilities [43][41]. - Efforts to establish a domestic supply chain for rare earths are hindered by high costs, lengthy approval processes, and technological barriers, making it difficult to replace Chinese sources [44][45]. - The military and semiconductor sectors are experiencing significant operational impacts due to supply shortages, with production capabilities being curtailed [45][41]. Geopolitical Implications - The article emphasizes the ongoing geopolitical struggle over resource sovereignty and technological dominance, with China leveraging its rare earth resources to enhance its strategic position globally [46][48]. - The current situation illustrates that technological advancement alone does not equate to industrial control, as resource advantages combined with regulatory frameworks create a more resilient strategic force [48][47].

Core Viewpoint - The announcement details the change of the sponsor representative for Zhonggang Tianyuan Co., Ltd. from Wang Zhiyu to Wang Yuming, ensuring the continuity of supervision without impacting the company's operations [1][2]. Group 1: Change of Sponsor Representative - Zhonggang Tianyuan Co., Ltd. received a notification from its sponsor institution, CITIC Jianan Securities, regarding the change of one of its sponsor representatives due to work requirements [1]. - Wang Yuming has been appointed to replace Wang Zhiyu as the continuing sponsor representative for the company's 2020 non-public stock issuance [1]. - The new sponsor representatives for the 2020 non-public stock issuance are Chen Zhankun and Wang Yuming, and this change will not affect the ongoing supervision by CITIC Jianan Securities [1]. Group 2: Acknowledgment of Previous Representative - The company's board expresses gratitude to Wang Zhiyu for his contributions during his tenure as the continuing sponsor representative [1]. Group 3: Profile of New Sponsor Representative - Wang Yuming holds a master's degree and is currently a senior vice president in the M&A department at CITIC Jianan Securities [2]. - He has led or participated in several significant projects, including major asset restructurings and capital operations for various companies [2].

Core Viewpoint - The announcement from Zhonggang Tianyuan indicates a change in the designated representative for the ongoing supervision of its non-public stock issuance project, ensuring continuity in oversight [2]. Group 1 - Zhonggang Tianyuan received a notification from its sponsor, CITIC Securities, regarding a change in the representative for the ongoing supervision of its 2020 non-public stock issuance [2]. - Wang Zhiyu, one of the representatives, will no longer serve due to work requirements, and Wang Yuming has been appointed as the new representative to ensure orderly supervision [2].

证券代码：002057 证券简称：中钢天源 公告编号：2025-048 中钢天源股份有限公司 关于变更保荐代表人的公告 公司董事会对王志宇先生在担任公司持续督导保荐代表人期间所做的工作 表示衷心的感谢！ 特此公告。 中钢天源股份有限公司 董事会 二〇二五年十月十五日 附：王玉明先生简历 王玉明先生，保荐代表人，硕士研究生学历，现任中信建投证券并购部高级 副总裁。曾主持或参与的项目有：紫光股份重大资产重组、鞍钢矿业资产重组及 引战、中铝国际重组、中润资源置换、中航电子吸并中航机电、首钢集团重点矿 产资产资本运作、中信证券发股收购广州证券、云鼎科技非公开、德美化工非公 开等。 本公司及董事会全体成员保证公告内容真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 中钢天源股份有限公司（以下简称"公司"）于近日收到保荐机构中信建投 证券股份有限公司（以下简称"中信建投证券"）的通知，公司 2020 年度非公 开发行股票的保荐代表人之一王志宇先生因工作需要，不再担任公司持续督导保 荐代表人。为保证持续督导工作的有序开展，中信建投证券现委派保荐代表人王 玉明先生（简历见附件）接替王志宇先生继续担任本项目保荐代表人 ...

Core Viewpoint - The stock of Zhonggang Tianyuan has experienced fluctuations, with a recent decline of 2.05%, while the company has shown significant growth in stock price and financial performance over the year [1][2]. Financial Performance - For the first half of 2025, Zhonggang Tianyuan achieved a revenue of 1.517 billion yuan, representing a year-on-year increase of 16.94% [2]. - The net profit attributable to shareholders for the same period was 147 million yuan, reflecting a growth of 43.07% year-on-year [2]. Stock Performance - Year-to-date, Zhonggang Tianyuan's stock price has increased by 61.92%, with a 6.49% rise over the last five trading days, 1.50% over the last twenty days, and 24.62% over the last sixty days [1]. Shareholder Information - As of June 30, 2025, the number of shareholders for Zhonggang Tianyuan was 45,600, an increase of 7.86% from the previous period [2]. - The average number of circulating shares per shareholder was 16,508, which decreased by 6.89% compared to the previous period [2]. Dividend Distribution - Since its A-share listing, Zhonggang Tianyuan has distributed a total of 766 million yuan in dividends, with 452 million yuan distributed over the last three years [3]. Major Shareholders - As of June 30, 2025, Hong Kong Central Clearing Limited was the eighth largest circulating shareholder, holding 8.7918 million shares, a decrease of 880,100 shares from the previous period [3].