| 证券代码：002237 | 证券简称：恒邦股份 | 公告编号：2025-078 | | --- | --- | --- | | 债券代码：127086 | 债券简称：恒邦转债 | | 山东恒邦冶炼股份有限公司 第九届监事会第二十六次会议决议公告 本公司及监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、监事会会议召开情况 《2025 年第三季度报告》（公告编号：2025-079）详见 2025 年 10 月 24 日《证 券 时 报 》 《 中 国 证 券 报 》 《 上 海 证 券 报 》 《 证 券 日 报 》 和 巨 潮 资 讯 网 （http://www.cninfo.com.cn）。 2.审议通过《关于公司开展融资租赁暨关联交易的议案》 监事会认为：本次关联交易基于满足公司经营发展需求，按照公平原则协商确 定，定价公允、公平、合理，不存在损害中小股东利益的行为，同意公司与深圳江 铜融资租赁有限公司合作开展融资租赁业务。 关联监事姜伟民先生回避表决。 表决结果：2 票同意，0 票反对，0 票弃权。 山东恒邦冶炼股份有限公司（以下简称"公司"）于 2025 ...

| 证券代码：002237 | 证券简称：恒邦股份 | 公告编号：2025-077 | | --- | --- | --- | | 债券代码：127086 | 债券简称：恒邦转债 | | 二、董事会会议审议情况 经与会董事认真审议，通过如下议案： 山东恒邦冶炼股份有限公司 第九届董事会第三十五次会议决议公告 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 山东恒邦冶炼股份有限公司（以下简称"公司"）于 2025 年 10 月 14 日以电子 邮件等方式发出《关于召开第九届董事会第三十五次会议的通知》，会议于 2025 年 10 月 23 日上午以现场与通讯相结合的方式召开，应出席董事 9 人，实际出席董事 9 人（其中，以通讯表决方式出席会议的董事有徐元峰先生、左宏伟先生、沈金艳先 生、黄健柏先生、焦健先生、吉伟莉女士）。会议由董事长肖小军先生召集并主持， 公司监事和部分高级管理人员列席了本次会议。本次会议的召集、召开符合《公司 法》《公司章程》等有关规定。 1.审议通过《关于公司 2025 年第三季度报告的议案》 本议案已经公司第九届 ...

Revenue and Profit - Revenue for the third quarter reached ¥33,393,863,025.18, an increase of 94.26% compared to the same period last year[5] - Net profit attributable to shareholders was ¥252,615,772.68, up 52.08% year-on-year[5] - Basic earnings per share increased to ¥0.22, reflecting a growth of 57.14% compared to the previous year[5] - Net profit attributable to shareholders of the listed company increased by 52.08% year-on-year, driven by increased product gross profit and investment income from the reduction of holdings in a gold equity[12] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 128.07% compared to the same period last year, mainly due to increased product gross profit and investment income from the reduction of gold equity holdings[12] - Basic earnings per share increased by 57.14% year-on-year, reflecting the increase in net profit attributable to shareholders[13] - Net profit for the period reached ¥552.58 million, a rise from ¥450.63 million, marking an increase of 22.7% year-over-year[28] - Basic earnings per share improved to ¥0.49 from ¥0.40, indicating a growth of 22.5%[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥31,423,237,037.68, representing a 27.10% increase from the end of the previous year[5] - The company’s total liabilities increased significantly, with short-term borrowings rising by 86.92% due to increased procurement[9] - The company reported a 40.96% increase in long-term borrowings, reflecting a strategic shift in debt structure[10] - Total liabilities reached RMB 21,204,189,867.09, compared to RMB 14,989,314,397.89 at the beginning of the period, representing an increase of approximately 41.5%[25] - The company's equity attributable to shareholders rose to RMB 10,347,190,586.75 from RMB 9,853,924,884.47, marking an increase of about 5%[25] - Long-term borrowings increased to RMB 2,522,853,779.34 from RMB 1,789,799,967.78, indicating a rise of approximately 40.9%[25] Cash Flow - Cash flow from operating activities showed a net outflow of ¥576,725,858.26, a decline of 171.60% compared to the previous year[5] - The net cash flow from operating activities decreased by 171.60% year-on-year, primarily due to increased cash expenditures from the launch of a comprehensive recovery technology project for valuable elements in a subsidiary's multi-metal mine[13] - Cash and cash equivalents at the end of the period totaled ¥4.21 billion, up from ¥3.28 billion, an increase of 28.5%[31] - Financing activities generated a net cash inflow of ¥3.92 billion, up from ¥1.35 billion, reflecting a significant increase of 190.3%[31] Costs and Expenses - Operating costs increased by 32.23% year-on-year, primarily due to rising raw material prices[10] - Total operating costs rose to ¥75.90 billion, compared to ¥57.51 billion, reflecting an increase of 32.1% year-over-year[27] - Tax expenses for the period amounted to ¥142.79 million, compared to ¥55.75 million, an increase of 156.5% year-over-year[28] - Other comprehensive income after tax showed a loss of ¥14.63 million, compared to a loss of ¥1.74 million in the previous period[28] Investments and Income - Investment income surged by 372.34% year-on-year, driven by reduced losses from commodity futures contracts and gains from the sale of equity in WanGuo Gold[11] - The fair value change income decreased by 193.36% compared to the same period last year, mainly due to a reduction in the fair value change income from hedging positions[12] - Credit impairment losses increased by 503.16% year-on-year, primarily due to an increase in the provision for bad debts[12] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 54,988[15] - Jiangxi Copper Corporation held 44.48% of the shares, making it the largest shareholder[15] Corporate Governance - The company appointed a new director and chairman of the strategic committee following the resignation of the previous chairman due to work adjustments[17] - The company appointed Ernst & Young Hua Ming as the auditor for the fiscal year 2025, with the engagement partner being Mr. Song Congyue[19] - The board of directors meeting was held on October 24, 2025[34] Convertible Bonds - The convertible bond "Hengbang Convertible Bond" has had its conversion price adjusted from RMB 11.33 to RMB 11.19, effective from June 12, 2025[19] - As of October 22, 2025, the total amount of "Hengbang Convertible Bond" decreased by RMB 1,102,979,500, with 11,029,795 bonds converted into 98,564,983 shares, leaving a remaining bond amount of RMB 2,057,020,500[19] Future Outlook - The new accounting standards will be implemented starting from 2025, affecting the financial statements from the beginning of that year[32] - The company received a notice from its controlling shareholder regarding the transfer of mining rights and shares, indicating ongoing strategic adjustments to avoid competition[21] Audit Status - The third quarter financial report of Shandong Hengbang Smelting Co., Ltd. has not been audited[33]

Core Viewpoint - The precious metals sector experienced a decline of 0.55% on October 23, with Zhaojin Gold leading the drop. Meanwhile, the Shanghai Composite Index and Shenzhen Component Index both saw a slight increase of 0.22% [1]. Group 1: Market Performance - The closing prices and performance of key stocks in the precious metals sector showed varied results, with Hunan Silver rising by 1.70% to 6.57 and Zhaojin Gold falling by 4.37% to 12.47 [1][2]. - The trading volume for Hunan Silver reached 1.8258 million shares, with a transaction value of 1.17 billion yuan, while Zhaojin Gold had a trading volume of 713,600 shares and a transaction value of 896 million yuan [1][2]. Group 2: Capital Flow - The precious metals sector saw a net outflow of 882 million yuan from major funds, while retail investors contributed a net inflow of 687 million yuan [2][3]. - Zhaojin Gold experienced a significant net outflow of 166 million yuan from major funds, accounting for 18.46% of its total capital [3].

| 证券代码：002237 | 证券简称：恒邦股份 | 公告编号：2025-076 | | --- | --- | --- | | 债券代码：127086 | 债券简称：恒邦转债 | | 山东恒邦冶炼股份有限公司 关于提前赎回"恒邦转债"的第四次提示性公告 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。 特别提示： 1."恒邦转债"赎回价格：100.28 元/张（含当期应计利息，当期年利率为 0.6%， 且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司深圳分公司 （以下简称"中登公司"）核准的价格为准。 2.赎回条件满足日：2025 年 10 月 17 日 3.停止交易日：2025 年 11 月 25 日 4.赎回登记日：2025 年 11 月 27 日 5.停止转股日：2025 年 11 月 28 日 6.赎回日：2025 年 11 月 28 日 7.赎回资金到账日（到达中登公司账户）：2025 年 12 月 3 日 8.投资者赎回款到账日：2025 年 12 月 5 日 9.赎回类别：全部赎回 10.最后一个交易日可转债简称：Z 邦转债 1 ...

Core Viewpoint - The company has decided to exercise its right to redeem the "Hengbang Convertible Bonds" early, based on current market conditions and the company's situation, following the approval from the board of directors [3][8]. Group 1: Redemption Details - The redemption price for "Hengbang Convertible Bonds" is set at 100.28 CNY per bond, which includes the accrued interest for the current period at an annual interest rate of 0.6% [2][10]. - The redemption conditions are met as of October 17, 2025, and the bonds will be fully redeemed on November 28, 2025, with the last trading day being November 25, 2025 [2][3][12]. - Investors are advised to convert their bonds before the trading halt to avoid being forced to redeem them [3][8]. Group 2: Bond Issuance and Trading - The company issued 31.6 million convertible bonds on June 12, 2023, with a total fundraising amount of 316 million CNY, netting approximately 312.99 million CNY after expenses [4]. - The bonds were listed for trading on the Shenzhen Stock Exchange starting July 7, 2023, under the name "Hengbang Convertible Bonds" [4]. Group 3: Conversion and Adjustment - The conversion period for the bonds is from December 18, 2023, to June 11, 2029, with adjustments to the conversion price occurring based on annual equity distributions [5][6]. - The conversion price was adjusted from 11.46 CNY to 11.33 CNY on June 12, 2024, and further adjusted to 11.19 CNY on June 12, 2025 [6]. Group 4: Redemption Procedures - The redemption process includes daily announcements leading up to the redemption date, with specific dates for trading halts, redemption registration, and fund disbursement to bondholders [12][14][15]. - The company will publish the redemption results and delisting announcement after the redemption is completed [15].

Core Viewpoint - Shandong Hengbang Smelting Co., Ltd. has announced the early redemption of its convertible bonds, "Hengbang Convertible Bonds," due to the fulfillment of redemption conditions based on stock price performance [4][11]. Group 1: Redemption Details - The redemption price for "Hengbang Convertible Bonds" is set at 100.28 CNY per bond, including accrued interest at an annual rate of 0.6% [2][13]. - The redemption conditions are met as of October 17, 2025, with the last trading day being November 25, 2025, and the redemption date on November 28, 2025 [3][4]. - Investors must ensure that any pledged or frozen bonds are released before the last trading day to avoid forced redemption [3][4]. Group 2: Convertible Bond Issuance and Trading - The company issued 31.6 million convertible bonds on June 12, 2023, with a total fundraising amount of 316 million CNY, netting approximately 312.99 million CNY after expenses [4][5][6]. - The bonds were listed for trading on the Shenzhen Stock Exchange starting July 7, 2023, under the name "Hengbang Convertible Bonds" [6]. Group 3: Conversion and Price Adjustment - The conversion period for the bonds is from December 18, 2023, to June 11, 2029, with the conversion price adjusted from 11.46 CNY to 11.33 CNY on June 12, 2024, and further to 11.19 CNY on June 12, 2025 [7][8]. - The company has the right to redeem the bonds if the stock price exceeds 130% of the conversion price for at least 15 out of 30 consecutive trading days or if the remaining unconverted bonds fall below 30 million CNY [9][11].

Group 1 - Hengbang Co., Ltd. announced that the "Hengbang Convertible Bonds" will be forcibly redeemed after the market closes on November 27, 2025, if not converted [2] - Following the redemption, the "Hengbang Convertible Bonds" will be delisted from the Shenzhen Stock Exchange [2] - Bondholders are advised to convert their bonds before the deadline, especially if their bonds are pledged or frozen, to avoid being forced to redeem them [2]

Core Points - The precious metals sector saw a slight increase of 0.06% on October 21, with Chifeng Jilong Gold Mining leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Precious Metals Sector Summary - Chifeng Jilong Gold Mining (Code: 600988) closed at 29.47, with a rise of 2.04% and a trading volume of 581,200 shares, amounting to a transaction value of 1.718 billion [1] - Other notable stocks include: - Xiaocheng Technology (Code: 300139) at 26.50, up 1.03% [1] - Sichuan Gold (Code: 001337) at 28.15, up 0.93% [1] - Shandong Gold (Code: 600547) at 38.16, up 0.58% [1] - Hunan Gold (Code: 002155) at 21.48, up 0.05% [1] - Western Gold (Code: 601069) at 30.01, up 0.03% [1] - Other stocks experienced minor declines [1] Fund Flow Analysis - The precious metals sector experienced a net outflow of 1.126 billion from institutional investors, while retail investors saw a net inflow of 1.182 billion [3][4] - Specific stock fund flows include: - Chifeng Jilong Gold Mining saw a net outflow of 155 million from institutional investors [4] - Sichuan Gold had a net outflow of 517.6 million from institutional investors but a net inflow of 763.6 million from retail investors [4] - Hunan Gold experienced a net outflow of 506.5 million from institutional investors but a net inflow of 5.688 million from retail investors [4] Related ETF Information - The gold stock ETF (Product Code: 159562) tracks the CSI Hong Kong-Shenzhen Gold Industry Stock Index and has seen a slight increase of 0.22% over the past five days [6] - The ETF has a price-to-earnings ratio of 27.00 and a recent net inflow of 5.812 million from main funds [6]

| 证券代码：002237 | 证券简称：恒邦股份 | 公告编号：2025-075 | | --- | --- | --- | | 债券代码：127086 | 债券简称：恒邦转债 | | 山东恒邦冶炼股份有限公司 关于提前赎回"恒邦转债"的第三次提示性公告 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。 特别提示： 1."恒邦转债"赎回价格：100.28 元/张（含当期应计利息，当期年利率为 0.6%， 且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司深圳分公司 （以下简称"中登公司"）核准的价格为准。 2.赎回条件满足日：2025 年 10 月 17 日 3.停止交易日：2025 年 11 月 25 日 4.赎回登记日：2025 年 11 月 27 日 5.停止转股日：2025 年 11 月 28 日 6.赎回日：2025 年 11 月 28 日 7.赎回资金到账日（到达中登公司账户）：2025 年 12 月 3 日 8.投资者赎回款到账日：2025 年 12 月 5 日 9.赎回类别：全部赎回 10.最后一个交易日可转债简称：Z 邦转债 1 ...