会议由董事长李光梅主持，公司全体监事、高级管理人 员列席会议。本次会议符合《中华人民共和国公司法》、《中 华人民共和国证券法》等有关法律、法规、规章及《公司章 程》的规定。 湖南白银股份有限公司 第六届董事会第十八次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、会议召开情况 湖南白银股份有限公司（以下简称"公司"）第六届董 事会第十八次会议通知于 2025 年 10 月 28 日以电话和专人 送达的方式发出，于 10 月 30 日上午 9：30 分在郴州市苏仙 区白露塘镇福城大道 1 号湖南白银 316 会议室以现场与通讯 表决的方式召开。会议应出席董事 9 人，实际出席会议的董 事 9 人。 证券代码：002716 证券简称：湖南白银 公告编号：2025-081 二、会议审议情况 《关于审议<公司 2025 年第三季度报告>的议案》 内容：公司《2025 年第三季度报告》刊登于 2025 年 10 月 31 日的《中国证券报》《上海证券报》《证券时报》《证 券日报》及巨潮资讯网（http：//www.cninfo.com.cn）。 表决结 ...

Market Overview - The precious metals sector declined by 1.37% compared to the previous trading day, with Xiaocheng Technology leading the losses [1] - The Shanghai Composite Index closed at 3986.9, down 0.73%, while the Shenzhen Component Index closed at 13532.13, down 1.16% [1] Individual Stock Performance - Among the precious metals stocks, Hengbang shares rose by 1.06% to 13.29, while Shandong Gold fell by 1.39% to 36.31 [1] - Sichuan Gold experienced a decline of 2.22%, closing at 26.91, with a trading volume of 12.61 million shares [2] - The trading volume and turnover for major stocks included: - Zhongjin Gold: 105.31 million shares, turnover of 2.347 billion [2] - Hunan Silver: 98.04 million shares, turnover of 625 million [2] Capital Flow Analysis - The precious metals sector saw a net outflow of 174 million from institutional investors, while retail investors experienced a net outflow of 18.4873 million [2] - Notable capital flows included: - Chifeng Gold had a net inflow of 86.1855 million from institutional investors [3] - Sichuan Gold saw a net outflow of 6.6832 million from institutional investors [3] Summary of Trading Data - The trading data for precious metals stocks indicated varied performance, with some stocks like Chifeng Gold and Zhaojin Gold showing slight gains, while others like Sichuan Gold and Mountain Gold International faced significant declines [1][2] - The overall sentiment in the precious metals sector appears bearish, as indicated by the net outflows and the majority of stocks closing lower [2][3]

Group 1 - The core viewpoint of the article highlights Hunan Silver's significant growth in revenue and profit for the third quarter of the year [1] - The company's operating income for the first three quarters reached 8.59 billion yuan, representing a year-on-year increase of 59.56% [1] - The net profit attributable to shareholders of the listed company was 159 million yuan, showing a year-on-year growth of 28.44% [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 144 million yuan, reflecting a substantial year-on-year increase of 88.91% [1]

Core Insights - The company reported a third-quarter revenue of 4.065 billion yuan, representing a year-on-year increase of 98.68% [1] - The net profit for the third quarter was 96.3611 million yuan, showing a year-on-year growth of 47.51% [1] - For the first three quarters, the total revenue reached 8.594 billion yuan, which is a year-on-year increase of 59.56% [1] - The net profit for the first three quarters amounted to 159 million yuan, reflecting a year-on-year growth of 28.44% [1]

湖南白银股份有限公司 2025 年第三季度报告 证券代码：002716 证券简称：湖南白银 公告编号：2025-080 湖南白银股份有限公司 2025 年第三季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度财务会计报告是否经过审计 □是 ☑否 1 湖南白银股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 2 单位：元 湖南白银股份有限公司 2025 年第三季度报告 | 外收入和支出 | | | | | --- | --- | --- | --- | | 其他符合非经常性损益定义 的损益项目 | 135,507.52 | 135,507.52 | | | 减：所得税影响额 | 63,84 ...

Core Viewpoint - The precious metals sector experienced a significant increase of 3.3% on October 29, with Zhaojin Mining leading the gains [1] Group 1: Market Performance - The Shanghai Composite Index closed at 4016.33, up 0.7% - The Shenzhen Component Index closed at 13691.38, up 1.95% [1] Group 2: Individual Stock Performance - Zhaojin Mining (000506) closed at 12.16, with a rise of 4.83% and a trading volume of 502,700 shares, totaling a transaction value of 601 million yuan - Shandong Gold (600547) closed at 36.82, up 3.40%, with a trading volume of 530,900 shares and a transaction value of 1.937 billion yuan - Other notable performers include: - Shanjin International (000975) up 4.12% - Chifeng Jilong Gold Mining (600988) up 3.97% - Hunan Silver (002716) up 3.68% [1] Group 3: Fund Flow Analysis - The precious metals sector saw a net inflow of 727 million yuan from main funds, while retail funds experienced a net outflow of 349 million yuan - Main fund inflows were led by Shandong Gold with 255 million yuan, while Zhaojin Mining saw a net outflow of 44.7 million yuan from retail investors [2]

Core Points - The precious metals sector increased by 1.34% on October 27, with Chifeng Jilong Gold Mining leading the gains [1] - The Shanghai Composite Index closed at 3996.94, up 1.18%, while the Shenzhen Component Index closed at 13489.4, up 1.51% [1] Summary by Category Stock Performance - Chifeng Jilong Gold Mining (code: 6009888) closed at 29.76, up 3.05% with a trading volume of 699,800 shares and a transaction value of 2.083 billion yuan [1] - Zhongjin Gold (code: 600489) closed at 22.93, up 2.69% with a trading volume of 855,000 shares and a transaction value of 1.941 billion yuan [1] - Other notable performers include: - Xiaocheng Technology (code: 300139) closed at 25.26, up 1.90% [1] - Hunan Gold (code: 002155) closed at 20.42, up 1.44% [1] - Hengbang Shares (code: 002237) closed at 13.22, up 1.15% [1] Capital Flow - The precious metals sector experienced a net outflow of 341 million yuan from institutional investors and 147 million yuan from retail investors, while retail investors saw a net inflow of 489 million yuan [3][4] - Specific stock capital flows include: - Zhongjin Gold had a net outflow of 94.64 million yuan from institutional investors [4] - Hunan Gold saw a net inflow of 57.69 million yuan from institutional investors [4] - Sichuan Gold experienced a net outflow of 34.75 million yuan from institutional investors [4] ETF Information - The gold stock ETF (code: 159562) tracks the CSI Hong Kong-Shenzhen Gold Industry Stock Index and has seen a decline of 6.79% over the past five days [6] - The ETF's current price-to-earnings ratio is 24.06, with a recent reduction in shares by 27 million to a total of 1.31 billion shares, and a net inflow of 9.289 million yuan from institutional investors [6]

Core Insights - Silver nitrate is an essential fine chemical product containing silver, crucial for various industries, particularly the photovoltaic sector, leading to increased demand and investment in the market [1][5]. Industry Overview - Silver nitrate is produced from silver blocks or silver-copper alloys reacting with nitric acid, characterized as a strong oxidizer and toxic [2]. - The current standards for silver nitrate in China include national and industry standards, covering industrial and chemical reagent applications [3]. Market Demand and Supply - The demand for silver nitrate in China has grown significantly, from 3,000 tons in 2019 to over 10,000 tons in 2023, with projections of 11,800 tons in 2024 and 14,000 tons in 2025 [3][5]. - Despite the increasing demand, the production capacity is expanding at a faster rate, leading to concerns about oversupply, with capacities expected to reach 23,000 tons in 2024 and 33,400 tons in 2025 [5]. Price Trends - The average price of silver nitrate in China is projected to rise to 4,000 yuan per kilogram in 2024, with a compound annual growth rate of 6.6% from 2020 to 2024, and expected to reach 4,300 yuan per kilogram in 2025 [7]. Industry Chain - The silver nitrate industry chain includes upstream components like metallic silver and nitric acid, with downstream applications in electronics, pharmaceuticals, and photography [9]. - The electronics sector is the largest consumer of silver nitrate, particularly in photovoltaic cells and semiconductor packaging [9]. Competitive Landscape - Key players in the silver nitrate industry include Lanzhou Jinchuan Technology Park, Yunnan Precious Metals New Materials Holding Group, and Hunan Silver Co., Ltd., among others [11]. - West Long Science Co., Ltd. specializes in high-purity silver nitrate for photovoltaic applications, contributing significantly to its revenue [12]. - Hunan Silver Co., Ltd. focuses on high-purity silver and silver deep-processing products, with a target to produce 1,000 tons of silver (including silver nitrate) in 2025 [14]. Future Trends - The future of the silver nitrate industry in China is expected to focus on safety, environmental sustainability, and high-value innovation driven by market demands and regulatory pressures [15].

Core Insights - The precious metals sector experienced a decline of 1.08% on October 24, with Hunan Silver leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Precious Metals Sector Performance - Hunan Silver closed at 6.40, down 2.59%, with a trading volume of 1.35 million shares and a transaction value of 867 million [2] - Other notable declines include: - Shandong Gold down 1.11% to 36.50 with a transaction value of 1.14 billion [2] - Hunan Gold down 0.74% to 20.13 with a transaction value of 917 million [2] - The only gain in the sector was seen in Chifeng Gold, which rose 0.35% to 28.88 with a transaction value of 1.17 billion [2] Capital Flow Analysis - The precious metals sector saw a net outflow of 1.026 billion from institutional investors, while retail investors contributed a net inflow of 1.101 billion [3] - Key stocks with significant capital flow include: - Hunan Silver with a net outflow of 134 million from institutional investors [3] - Shandong Gold with a net outflow of 142 million [3] - Chifeng Gold with a net outflow of 644 million [3]

Group 1 - The core viewpoint of the news highlights the recent stock performance of Hunan Silver, which has seen a significant price drop of 2.13% on October 24, with a current price of 6.43 CNY per share and a total market capitalization of 18.15 billion CNY [1] - Hunan Silver's stock has increased by 89.68% year-to-date, but has experienced a decline of 20.02% over the last five trading days [1] - The company has been active on the stock market, appearing on the "Dragon and Tiger List" five times this year, with the most recent appearance on October 22, where it recorded a net buy of -42.32 million CNY [1] Group 2 - Hunan Silver Co., Ltd. is located in Chenzhou, Hunan Province, and was established on November 8, 2004, with its stock listed on January 28, 2014 [2] - The company's main business involves the mining, smelting, and deep processing of non-ferrous metals such as silver, lead, and zinc, forming an integrated production system and full industry chain layout [2] - As of June 30, the number of shareholders for Hunan Silver was 88,000, an increase of 21.30% from the previous period, with an average of 25,127 circulating shares per person, a decrease of 17.56% [2] Group 3 - Hunan Silver has distributed a total of 162 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3]