证券代码：002428 证券简称：云南锗业 公告编号：2026-007 云南临沧鑫圆锗业股份有限公司 关于为子公司提供担保的进展公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 截至本公告日，云南临沧鑫圆锗业股份有限公司（下称"公司"或"本公司"） 及控股子公司担保总额超过公司最近一期经审计净资产的 50%；截至 2025 年 9 月 30 日，本次被担保对象云南中科鑫圆晶体材料有限公司（下称"中科鑫圆"） 的资产负债率为 70.90%。敬请投资者充分关注担保风险。 一、担保情况概述 （一）担保事项内部决策程序履行情况 公司于 2026 年 1 月 9 日召开第八届董事会第三十三次会议，于 2026 年 1 月 28 日召开 2026 年第一次临时股东会审议并通过了《关于公司及子公司相互提 供担保的议案》，同意公司及下属子公司云南鑫耀半导体材料有限公司（下称"鑫 耀公司"）、中科鑫圆、昆明云锗高新技术有限公司（下称"昆明云锗"）、云 南东昌金属加工有限公司（下称"东昌公司"）共同向中国工商银行股份有限公 司昆明分行（下称"工商银行"）为牵头行的银 ...

Group 1 - The small metals sector increased by 4.94% on February 3, with Dongfang Tantalum leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Notable performers in the small metals sector included Dongfang Silver Industry, which rose by 10.01% to a closing price of 43.21, and Zhong Rare Metals, which increased by 8.72% to 83.39 [1] Group 2 - The small metals sector saw a net inflow of 625 million yuan from main funds, while retail funds had a net inflow of 364 million yuan, and speculative funds experienced a net outflow of 989 million yuan [2] - The top stocks by main fund inflow included Beifang Rare Earth with a net inflow of 347 million yuan, and Dongfang Aluminum with 286 million yuan [3] - The overall trading volume for the small metals sector was significant, with stocks like Xiamen Tungsten Industry achieving a trading volume of 715,100 shares and a transaction value of 3.954 billion yuan [1][2]

Group 1 - The non-ferrous sector is experiencing a rebound, with companies like Hunan Gold and Northern Rare Earth seeing significant price increases, while the non-ferrous mining ETF has also risen over 2% [1] - Precious metals faced a historic downturn due to trading congestion and external pressures, with silver and gold experiencing maximum daily declines of over 30% and 10% respectively [1][12] - Short-term volatility in precious metal prices is expected due to profit-taking, but long-term trends indicate that the de-dollarization process will continue, suggesting that the current adjustment is not the end of the precious metals market [1][14] Group 2 - The non-ferrous mining ETF tracks an index focused on the upstream mining sector of the non-ferrous metal industry, which shows strong price elasticity and higher beta in commodity bull markets [1] - The non-ferrous mining index has shown a cumulative increase of 353.53% over the past decade, with an annualized return of 16.83% and a Sharpe ratio of 0.7, indicating higher volatility compared to similar indices [9][11] - The index is heavily weighted towards copper, gold, and aluminum, which together account for over 58% of its composition, highlighting its strategic importance in both industrial development and financial markets [4]

Group 1 - The company, Yunnan Zhenye, stated that its production and operational status for the year 2025 will be disclosed in the annual report for that year [2]

Group 1 - The company, Yunnan Zhenye, is committed to continuously monitoring relevant policies and industry dynamics [1] - The company aims to seize development opportunities in the industry while optimizing and strengthening its main business operations [1]

Core Viewpoint - The company expects a significant decline in net profit for the year 2025, projecting a decrease of over 50% compared to the previous year, despite positive sales growth in various product segments [1][2]. Group 1: Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025, with an anticipated positive net profit that will decline by more than 50% [1]. - The forecast has not been audited by an accounting firm, but preliminary discussions indicate no major disagreements regarding the performance outlook [1]. Group 2: Reasons for Performance Changes - Increased demand for photovoltaic-grade germanium products due to the advancement of low-orbit communication satellite networks has led to a significant rise in sales volume [1]. - The company has seen an increase in sales of compound semiconductor materials and optical-grade germanium products, contributing to overall revenue growth [1]. - Despite increased sales, the average selling prices and unit costs of various germanium products have risen due to higher raw material prices, with unit cost growth outpacing sales price increases, resulting in a decline in overall gross margin [1]. Group 3: Financial Impacts - R&D expenses have increased year-on-year as projects are progressing as planned [2]. - Financial costs have risen due to unrecognized financing expenses related to minority shareholders of a subsidiary, amounting to 25.64 million yuan [2]. - The expected impact of non-recurring gains and losses on net profit attributable to shareholders is estimated to be between 23 million and 28 million yuan [2].

Group 1: Earnings Forecasts - Han's Laser expects a net profit of 1.85 billion to 2.15 billion yuan for 2025, marking a turnaround from losses in the previous year [9] - Zhongji Xuchuang anticipates a net profit increase of 89.50% to 128.17% for 2025, projecting profits between 9.8 billion to 11.8 billion yuan [2] - Perfect World forecasts a net profit of 720 million to 760 million yuan for 2025, also reversing previous losses [25] - Yihua Lifestyle expects a net profit of 8 billion to 10 billion yuan for 2025, compared to a loss of 1.696 billion yuan in the previous year [21] - Guizhou Mingzhu anticipates a staggering net profit increase of 2908.49% to 3577.04% for 2025, projecting profits between 166 million to 203 million yuan [25] - Kexing Pharmaceutical expects a net profit increase of 328.83% to 455.89% for 2025, projecting profits between 135 million to 175 million yuan [28] Group 2: Capital Raising and Investments - Newray plans to raise no more than 1.316 billion yuan through a private placement for high-performance CNC blade industrial park projects [3] - Liyang Chip intends to raise up to 970 million yuan for integrated circuit testing projects and other initiatives [4] - Kid King plans to invest 3.3 million yuan to establish a joint venture focused on online business model innovation for family consumption [6] Group 3: Industry Developments - Tianqi Lithium's subsidiary has produced its first batch of chemical-grade lithium concentrate as part of its expansion project [5] - Yihua Lithium's subsidiary has signed a framework agreement with Indonesian state-owned enterprises to collaborate on the entire supply chain for electric vehicle batteries [7] - Longyuan Power expects a net profit increase of 51% to 73% for 2025, driven by improved profitability in its core thermal power business and expansion in renewable energy [18]

Core Viewpoint - Yunnan Germanium (002428.SZ) expects a significant decline in net profit for 2025, projecting a range of 15 million to 22 million yuan, which represents a year-on-year decrease of 71.75% to 58.57% [1] Group 1: Financial Performance - The company anticipates a net profit attributable to shareholders of 15 million to 22 million yuan for 2025, a substantial decline compared to the previous year [1] - The net profit after excluding non-recurring gains and losses is projected to be between -13.5 million and -6.8 million yuan [1] Group 2: Market Demand and Sales - There has been a significant increase in the demand for photovoltaic-grade germanium products due to the advancement of domestic low-orbit communication satellite networks, leading to a substantial year-on-year increase in sales volume [1] - The optical communication market has shown improved conditions, resulting in increased sales of indium phosphide semiconductor materials [1] - Orders for fiber-grade germanium products and infrared-grade germanium products (lenses, optical systems) have also increased, contributing to higher sales volume compared to the previous year [1] Group 3: Pricing and Cost Dynamics - The average market price of raw materials has risen, leading to an increase in the sales prices and unit costs of material-grade germanium products, fiber-grade germanium products, photovoltaic-grade germanium products, and infrared-grade germanium products (both raw and coated lenses) [1] - However, the increase in unit costs has outpaced the growth in sales prices, resulting in a decrease in overall gross margin despite an increase in operating revenue [1]

Core Viewpoint - Yunnan Zhenye (002428.SZ) expects a significant decline in net profit for 2025, projecting between 15 million to 22 million yuan, which represents a year-on-year decrease of 58.57% to 71.75% [2] Group 1: Financial Performance - The company anticipates a decrease in net profit due to rising average prices of raw materials impacting the sales prices and unit costs of various products, including material-grade germanium, optical fiber-grade germanium, photovoltaic-grade germanium, infrared-grade germanium products (both blanks and coated lenses), and compound semiconductor materials [2] - Despite an increase in operating revenue, the comprehensive gross margin has declined due to the unit cost growth outpacing the sales price growth [2]

Financial Performance - The company expects a net profit of between 1,500 and 2,200 million yuan for the year 2025, representing a decline of 58.57% to 71.75% compared to the previous year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is projected to be between -1,350 and -680 million yuan, compared to 2,616.03 million yuan in the previous year[5]. - The basic earnings per share is estimated to be between 0.02 and 0.03 yuan, down from 0.08 yuan in the previous year[5]. - The company anticipates non-recurring gains and losses will impact net profit attributable to shareholders by approximately 23 to 28 million yuan[6]. - The financial data presented is preliminary and has not been audited by an accounting firm, with final figures to be disclosed in the 2025 annual report[7]. Sales and Product Performance - The increase in sales volume of photovoltaic-grade germanium products is attributed to the advancement of domestic low-orbit communication satellite networking[5]. - The average selling prices and unit costs of various products, including compound semiconductor materials, have increased compared to the previous year, with unit cost growth outpacing sales price growth[6]. Expenses and Financial Management - R&D expenses have increased year-on-year as projects are progressing as planned[6]. - Financial expenses have risen due to unrecognized financing costs related to minority shareholders of a subsidiary, amounting to 25.64 million yuan[6]. - The company has seen an increase in accounts receivable due to significant sales revenue from photovoltaic-grade germanium products, leading to higher credit impairment losses[6].