Group 1 - The core viewpoint highlights the focus on policy support and market dynamics in China's natural resources sector, with the Ministry of Natural Resources announcing reforms to accelerate project implementation and regional collaboration [1] - In Sichuan Province, a new round of mineral exploration has progressed, with 18 cities and states investing a total of 314 million yuan, discovering over 100 million tons of resources such as phosphate and fluorite [1] - Commodity prices show mixed trends, with energy prices rising by 0.6% in early February, while mineral prices fell by 0.2%, and non-ferrous metals saw a significant decline of 2.7% [1] Group 2 - Recent stock performance in resource-related stocks is driven by policy changes and price fluctuations, with tungsten stocks like Xianglu Tungsten Industry and Zhangyuan Tungsten Industry hitting the daily limit due to expectations of price increases [1] - The land market recovery has also boosted related sectors, exemplified by high premium transactions for residential land in Chengdu, indicating the value of core regional resources [1] - Institutional analysis suggests that cyclical stocks such as tungsten and nickel are supported by supply constraints and growing demand from the new energy sector, making their earnings elasticity noteworthy [2]

Group 1 - Jia Mei Packaging announced that the capital operation plan related to Magic Atom will be completely independent of the listed company, with no injection plan [2] - Shuangliang Energy indirectly participates in commercial aerospace projects but does not have direct cooperation with SpaceX [2] - Zhangyue Technology expects that the revenue from its AI short drama business in 2025 will not exceed 1% of its total annual revenue [2] Group 2 - Xianglu Tungsten stated that significant economic fluctuations in the countries of its main customers could greatly impact the demand for tungsten products and the recovery of accounts receivable [3] - United Optoelectronics signed a business cooperation framework contract with Lingzhi Cloud Creation to provide assembly and processing services for robot products [4] - Hanbo High-tech's subsidiary plans to acquire assets to layout the wet electronic chemicals industry [4] Group 3 - International Composite Materials confirmed that electronic-grade glass fiber is a key raw material for PCBs and that its operations are normal [5] - Jingrui Electric Materials plans to invest 600 million yuan to build a comprehensive base for key materials in the integrated circuit manufacturing industry in the western region [6] - Wenzhou Hongfeng intends to raise no more than 450 million yuan for the expansion of lithium battery copper foil and electronic copper foil projects [7] Group 4 - Zhi Chuang Data plans to procure servers from multiple suppliers, with a total expected amount not exceeding 11 billion yuan [8] - Zhangyuan Tungsten reported that its current operating conditions and external environment are normal, with no undisclosed significant matters [17] - Yida Co. plans to adjust the technical reform project for the production of 220,000 tons of epoxy propylene derivatives [19] Group 5 - Huazhong Bank reported a net profit of 27.2 billion yuan for 2025, a decrease of 1.72% year-on-year [27][28] - Jin Dike reported a net loss of 173 million yuan for 2025, despite a revenue increase of 40.13% [29] - Luan An Huan Neng reported a 16.8% year-on-year increase in coal sales in January 2026 [30]

Core Viewpoint - Tungsten, known as "industrial teeth," is experiencing a surge in demand and price due to supply constraints and strong market demand [1][2]. Group 1: Price Increases - The long-term procurement prices for tungsten products have significantly increased, with 55% black tungsten concentrate rising by 28.1% to 670,000 CNY/ton and 55% white tungsten concentrate increasing by 28.2% to 669,000 CNY/ton [2][3]. - Ammonium paratungstate (standard grade zero) long-term procurement price rose by 27.6% to 970,000 CNY/ton [2]. Group 2: Supply and Demand Dynamics - Domestic mining operations are conservatively producing, leading to a weak market increment expectation and further price adjustments for long-term contracts [2]. - The supply side is facing tightening due to stricter safety and environmental regulations, resulting in decreased production and shipments from some mines [2][3]. - Demand remains stable, primarily driven by essential purchases, particularly in the PCB tool sector [2]. Group 3: Future Price Outlook - Institutions are optimistic about the future price of tungsten, with expectations for continued strong performance and new highs [3]. - The global tungsten production is projected to increase from 82,800 tons in 2025 to 89,900 tons by 2028, while demand is expected to rise from 102,100 tons to 110,000 tons, indicating a potential supply-demand gap [3]. Group 4: Stock Market Response - A-share tungsten concept stocks have reacted positively to the price increases and supply-demand changes, with several stocks hitting the daily limit [4]. - Notable performers include Xianglu Tungsten Industry and Zhangyuan Tungsten Industry, both of which saw significant price increases [4][5]. - Xianglu Tungsten Industry has achieved a cumulative increase of 166.32% this year, reflecting strong market interest [5].

崇义章源钨业股份有限公司（以下简称"公司"或"本公司"）股票（股票 简称：章源钨业，股票代码：002378）于 2026 年 2 月 11 日、2026 年 2 月 12 日， 连续 2 个交易日累计涨幅偏离 20.70%，根据《深圳证券交易所股票上市规则》 的规定，属于股票交易异常波动的情况。 证券代码：002378 证券简称：章源钨业 公告编号：2026-009 崇义章源钨业股份有限公司 股票交易异常波动公告 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、股票交易异常波动的情况介绍 四、公司认为必要的风险提示 二、说明关注、核实情况 针对公司股票交易异常波动，公司就以下事项与有关人员通过函询等方式进 行了核实，现将核实情况说明如下： 1. 公司前期披露的信息不存在需要更正、补充之处。 2. 公司不存在近期公共传媒报道可能或已经对本公司股票交易价格产生较 大影响的未公开重大信息的情况。 3. 公司目前经营情况及内外部经营环境正常，不存在发生重大变化或预计 将要发生重大变化的情况。 4. 公司、控股股东和实际控制人不存在关于本公司的应披露而未披露的重 大 ...

Group 1 - The core viewpoint of the article is that Zhangyuan Tungsten Industry (002378) has disclosed that its current operational situation and internal and external business environment are normal, with no significant changes expected [1] - The company, its controlling shareholders, and actual controllers have no undisclosed significant matters related to the company, nor are there any major matters in the planning stage [1] - During the period of abnormal stock trading fluctuations, the company's controlling shareholders and actual controllers did not engage in buying or selling the company's stock [1]

Core Viewpoint - The company, Zhangyuan Tungsten (002378), reported that its current operational situation and external business environment are normal, with no significant changes expected [1] Group 1: Company Operations - The company confirmed that there are no major changes or anticipated significant changes in its operational status [1] - The company, its controlling shareholder, and actual controller have no undisclosed significant matters related to the company [1] Group 2: Stock Trading Activity - During the period of abnormal stock trading fluctuations, the controlling shareholder and actual controller did not engage in buying or selling the company's stock [1]

章源钨业公告称，公司股票于2026年2月11日、12日连续2个交易日累计涨幅偏离20.70%，属于异常波 动。经核实，公司前期披露信息无需更正补充，无未公开重大信息，经营及内外部环境正常，控股股东 和实控人无应披露未披露重大事项，异常波动期间无买卖公司股票情况。公司提醒，2025年度业绩预告 未经审计，暂无应修正情况，信息以指定媒体披露为准，投资者需理性投资、注意风险。 ...

Core Viewpoint - The article highlights the rising prices of tungsten and rare earth metals, with tungsten reaching a historical high, amidst increasing global competition for critical minerals [1]. Group 1: Market Performance - On February 12, the three major indices collectively rose, with the ChiNext Index increasing by over 1% [1]. - Small metal sectors showed significant activity, with companies like Xianglu Tungsten and Dongfang Tantalum experiencing notable stock performance [1]. Group 2: Supply and Demand Dynamics - The market anticipates increased demand for replenishment after the Spring Festival, leading to improved short-term transaction volumes [1]. - The current supply situation for tungsten remains tight, with challenges such as reduced mining quotas, declining year-end shipments, and unstable import volumes [1]. - The global tungsten market faces a pronounced supply-demand imbalance, making it difficult to resolve short-term issues [1].

Market Overview - The Shanghai Composite Index experienced narrow fluctuations, while the Shenzhen Component and ChiNext indices saw upward movements, with the Shanghai and Shenzhen markets recording a half-day trading volume of 1.33 trillion yuan, an increase of 30.7 billion yuan from the previous trading day [1] - Over 2,700 stocks in the market rose, with notable strength in the electric grid equipment sector, where companies like Suyuan Electric and Sifang Co. reached new highs [1] - The non-ferrous metals sector remained active, with Xianglu Tungsten and Zhangyuan Tungsten achieving consecutive gains [1][7] - The CPO concept stocks surged again, with Tianfu Communication rising over 10% to set a new historical high [1] - The gas turbine concept stocks exploded, with Yingliu Co. and Changbao Co. hitting the daily limit [1] Electric Grid Equipment Sector - The electric grid equipment sector showed strong performance, with stocks like Suyuan Electric, Sifang Co., Shun Sodium Co., and Senyuan Electric hitting the daily limit [1][12] - The sector's growth is supported by a significant increase in transformer exports, which reached a record value of 64.6 billion yuan in 2025, marking a nearly 36% increase from the previous year [2][3] Non-Ferrous Metals Sector - The non-ferrous metals sector saw a notable increase, with black tungsten concentrate prices rising by 25.19% to 671,000 yuan per ton, and ammonium paratungstate prices increasing by 24.68% to 985,000 yuan per ton [7][17] - The Producer Price Index (PPI) showed a positive growth of 0.4% month-on-month in January 2026, the highest growth rate since May 2022, indicating potential price increases in the non-ferrous, electronics, and chemical industries [7] Liquid Cooling and Computing Power Rental Sector - The liquid cooling concept stocks also performed well, with companies like Chuanrun Co., Bojie Co., and Yingwei Co. hitting the daily limit [3][10] - The computing power rental sector remained active, with stocks like Dazhi Technology achieving four consecutive gains, and UCloud announcing a price increase for all cloud products and services starting March 1, 2026, due to rising costs [6][20] Media and Entertainment Sector - The media and entertainment sector faced a collective decline, with companies like Huanrui Century and Hengdian Film experiencing significant drops [1] Summary - Overall, the market continued to show a mixed trend, with the ChiNext index gaining over 1%. Technology growth stocks, particularly in electric grid equipment, liquid cooling, gas turbines, and computing power rental, led the gains, while the media and consumer sectors faced adjustments [9]

Group 1 - A-shares experienced significant market activity with 57 stocks hitting the daily limit up and 14 stocks hitting the limit down on February 12 [1] - The tungsten sector showed notable performance, with Xianglu Tungsten Co. achieving three consecutive limit ups in five days, and Zhangyuan Tungsten Co. achieving two consecutive limit ups [1] - ST Jinglan (rights protection) achieved ten consecutive limit ups over 14 days, while ST Zhongdi (rights protection) recorded six consecutive limit ups [1] Group 2 - Several stocks, including Dawi Technology and Zhangyue Technology, achieved four consecutive limit ups, while Haimass Data recorded three limit ups in five days [1] - ST Guohua faced a continuous decline with nine consecutive limit downs, and ST Cuihua (rights protection) experienced three consecutive limit downs [1] - Other stocks such as ST Yuanshang and Hengdian Film & Television also faced consecutive limit downs, indicating a challenging market environment for these companies [1]