经济观察网 精艺股份（002295）发布理财产品逾期兑付进展公告，涉及"21上实01"债券违约。公司通 过法院强制执行已收回2140.33万元，但剩余本金5659.67万元及部分投资收益尚未兑付，该事项对公司 本期及期后利润的影响存在不确定性。 股票近期走势 根据近期估值分析，精艺股份相对估值区间为10.27-11.36元，综合基本面显示股价偏高，行业内竞争力 一般，盈利能力较弱。机构舆情偏中性，调研频率较低，市场观点总体谨慎，关注公司基本面改善进 展。 以上内容基于公开资料整理，不构成投资建议。 截至2026年2月12日，精艺股份股价呈现波动。2月9日股价上涨2.05%，报11.89元。最新数据显示，2月 12日股价报11.83元，近5日累计上涨1.81%，但年初至今跌幅为11.19%。当日主力资金净流出405.12万 元。股价波动与市场对理财逾期事件的反应相关。 机构观点 ...

证券代码：002295 证券简称：精艺股份 公告编号：2026-008 广东精艺金属股份有限公司 关于对外担保的进展公告 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。 前述对芜湖精艺新材料科技有限公司的担保在股东大会批准的额度范围之 内。 三、被担保人基本情况 公司名称：芜湖精艺新材料科技有限公司 成立时间：2018 年 05 月 09 日 注册地址：中国(安徽)自由贸易试验区芜湖片区万春东路 88 号办公楼 302 室 特别风险提示： 截至公告日，公司及子公司为其下属控股公司累计实际发生担保总余额占公 司最近一期经审计净资产的 39.21%，对资产负债率超过 70%的单位担保金额占公 司最近一期经审计净资产的 25.02%，敬请投资者注意相关风险。 一、担保情况概述 2026 年 2 月 9 日，广东精艺金属股份有限公司（以下简称"公司"）与安 徽无为农村商业银行股份有限公司二坝经济开发区支行签署《保证合同》（编号： 341573638920260009013），为全资子公司芜湖精艺新材料科技有限公司 2026 年 2 月 6 日签订的《流动资金借款合同》 ...

证券代码：002295 证券简称：精艺股份 公告编号：2026-007 广东精艺金属股份有限公司 关于理财产品逾期兑付的进展公告 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。 风险提示： 1、截至本公告披露日，本期债券剩余 5,659.67 万元债券本金及部分投资收 益尚未全额执行到位，其对公司本期及期后利润的影响亦存在不确定性，具体情 况以年度审计结果为准。 2026 年 2 月 9 日，通过法院强制执行程序，公司已成功收回部分款项，金 额为人民币 2,140.33 万元。目前，该案的后续执行工作仍在法院推进过程中。 二、公司采取的相关措施 1、鉴于上实租赁未能依照约定向公司支付回款，对于上实租赁的这一违约 行为，公司已根据《调解协议书》向其发出催款函、律师函，并已向法院申请强 制执行。公司将积极跟进并配合法院的执行工作，持续督促相关方履行义务，并 根据后续进展情况及时履行信息披露义务。 2、后续公司将加强对使用自有资金投资理财产品的安全评估，严控投资风 险，密切关注理财产品的回款进展情况，尽最大努力维护公司和全体股东的权益。 三、风险提示 1、截至本公告 ...

Investment Rating - The report maintains an "Overweight" rating for the copper industry [6] Core Views - Short-term copper prices are expected to fluctuate, but there is optimism for an upward trend in copper prices in 2026 due to ongoing supply-demand tightness [1][4] - The TC spot price continues to hit historical lows, indicating tight procurement of copper concentrate [1][3] - The report recommends specific companies for investment: Zijin Mining, Luoyang Molybdenum, Jincheng Mining, and Western Mining, while also suggesting to pay attention to Tongling Nonferrous Metals [4] Supply and Demand Summary - **Supply**: - As of February 6, 2026, domestic copper concentrate inventory at major ports is 638,000 tons, down 5.2% from the previous week [2][46] - The TC spot price is at -51.23 USD/ton, a decrease of 0.9 USD/ton from January 30, 2026, marking a low since September 2007 [3][57] - **Demand**: - Cable manufacturing utilization rate increased by 0.7 percentage points to 60.15% as of February 5, 2026 [4][70] - Air conditioning production is projected to decline by 31.6% in February, 6.5% in March, and increase by 4.0% in April 2026 [4][87] Inventory Summary - Domestic copper social inventory increased by 4.0% week-on-week, while LME copper inventory rose by 4.9% [2][24] - Global inventory across major exchanges reached 1,021,000 tons, up 3.6% from January 30, 2026 [2][24] Price Trends - As of February 6, 2026, SHFE copper closed at 100,100 CNY/ton, down 3.45% from January 30, 2026, while LME copper closed at 13,060 USD/ton, down 0.08% [1][17]

Group 1 - The article discusses the potential catalysts for the non-ferrous metal industry, particularly focusing on copper resources and strategic reserves [1][5]. - The Non-Ferrous Metals Industry Association emphasizes the need to improve copper resource reserves and expand national strategic reserves, suggesting the inclusion of copper concentrate in reserve considerations [5]. - Key companies involved in copper mining and processing are listed, including Zijin Mining, Luoyang Copper, Jiangxi Copper, and others, indicating a competitive landscape in the copper sector [6].

Group 1 - The industrial metal sector saw a slight increase of 0.01% on January 27, with silver leading the gains [1] - The Shanghai Composite Index closed at 4139.9, up by 0.18%, while the Shenzhen Component Index closed at 14329.91, up by 0.09% [1] - Notable gainers in the industrial metal sector included Silver Holdings, which rose by 9.99% to a closing price of 12.55, and Yuguang Gold & Lead, which increased by 9.98% to 20.49 [1] Group 2 - The industrial metal sector experienced a net outflow of 6.521 billion yuan from major funds, while retail investors contributed a net inflow of 6.339 billion yuan [2] - The top losers included Guocheng Mining, which fell by 8.20% to 29.68, and Zhongse Co., which decreased by 6.51% to 8.18 [2] - The trading volume for Guocheng Mining was 464,500 shares, with a transaction value of 1.382 billion yuan [2] Group 3 - Major net inflows were observed in Huafeng Aluminum with 70.51 million yuan, while retail investors showed a significant outflow of 65.41 million yuan [3] - The net inflow for Yongjie New Materials was 46.07 million yuan from major funds, but retail investors had a net outflow of 66.60 million yuan [3] - The overall trend indicates a mixed sentiment among different investor types within the industrial metal sector [3]

Core Viewpoint - Jingyi Co., Ltd. (SZ002295) is expected to report a net loss of between 28.18 million yuan and 52.33 million yuan for the fiscal year 2025, a significant decline from a profit of 27.71 million yuan in 2024, primarily due to substantial bad debt provisions [2] Group 1: Financial Performance - In the first three quarters of 2025, Jingyi Co., Ltd. achieved a revenue of 3.481 billion yuan, representing a year-on-year increase of 32.77% [3] - The operating profit for the same period was 13.7 million yuan, showing a year-on-year decline, while the net profit attributable to shareholders decreased by 52.43% to 14.09 million yuan [3] - The company reported a negative net cash flow from operating activities of 116 million yuan, worsening due to increased procurement costs and rising working capital [3] Group 2: Bad Debt and Cash Flow Management - The anticipated loss for 2025 is mainly attributed to large provisions for bad debts, with the company emphasizing its commitment to managing accounts receivable through enhanced credit checks and collection efforts [3][6] - As of September 30, 2025, the accounts receivable balance stood at 884 million yuan, accounting for approximately 25% of the revenue, which raises concerns given the significant multiple compared to net profit [6] Group 3: Industry Context and Cost Pressures - The copper processing industry is facing rising credit risks, with many companies experiencing increased accounts receivable and extended payment terms due to tightening credit cycles and weak end-demand [6] - In 2025, copper prices have shown a significant upward trend, with the London Metal Exchange (LME) copper price reaching a record high of 11,996 USD per ton on December 22, 2025, contributing to increased cost pressures for companies [4] - Jingyi Co., Ltd. has established a pricing system based on "copper price + processing fee" to mitigate risks associated with copper price fluctuations [6]

Core Viewpoint - The company Jingyi Co., Ltd. (002295) has announced a significant expected loss for the fiscal year 2025, projecting a net loss attributable to shareholders between 28.18 million yuan and 52.33 million yuan, compared to a profit of 27.71 million yuan in the same period last year [4]. Financial Performance - The expected net profit for 2025 is projected to be a loss of 28.18 million yuan to 52.33 million yuan, with a previous year's profit of 27.71 million yuan [4]. - The expected non-recurring net profit loss is estimated between 32.52 million yuan and 60.39 million yuan, compared to a profit of 19.60 million yuan in the previous year [4]. - The basic earnings per share are projected to be between -0.11 yuan and -0.21 yuan [4]. Valuation Metrics - The company's latest closing price indicates a price-to-book ratio (LF) of approximately 2.29 times and a price-to-sales ratio (TTM) of about 0.67 times [4]. - Historical price-to-earnings (P/E) ratios have shown significant fluctuations, with the company experiencing a negative P/E ratio due to the projected losses [16]. Industry Context - The company focuses primarily on the copper processing industry, which has been impacted by substantial bad debt losses during the reporting period [11]. - Historical net profit and non-recurring net profit figures indicate a downward trend, with expected losses for 2025 reflecting a continuation of this trend [12].

Core Viewpoint - Jingyi Co., Ltd. (002295.SZ) has disclosed its performance forecast for the year 2025, expecting a net loss attributable to shareholders of the listed company ranging from 28.18 million to 52.33 million yuan, with a net loss after deducting non-recurring gains and losses estimated between 32.52 million and 60.39 million yuan [1] Financial Performance - The company anticipates a net loss of 28.18 million to 52.33 million yuan for 2025 [1] - The projected net loss after excluding non-recurring items is expected to be between 32.52 million and 60.39 million yuan [1]

格隆汇1月22日丨精艺股份(002295.SZ)公布，预计2025年净亏损5,233.36万元～2,817.96万元，扣非净亏 损6,038.51万元～3,251.51万元。主要是报告期内单项计提了大额坏账损失影响所致。公司高度重视应收 账款管理，已采取包括加强客户资信审查、优化销售回款政策、加大催收力度及法律手段在内的多项措 施，积极维护公司合法权益，改善现金流状况。本次计提系基于当前情况下做出的审慎会计处理，旨在 更加真实、公允地反映公司的财务状况和经营成果。公司主营业务保持稳定，铜加工核心产能与市场地 位未发生重大不利变化。公司管理层将持续关注市场变化，加强应收账款管理，优化客户结构，积极应 对挑战，努力提升经营质量。 ...