证券日报网讯 9月9日晚间，中矿资源发布公告称，公司及控股子公司无逾期担保情况，也无涉及诉讼 的担保及因担保被判败诉而应承担的损失。 （文章来源：证券日报） ...

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for its future performance [10]. Core Viewpoints - The company has transformed from a geological exploration firm into an integrated mining group with a focus on lithium, cesium, rubidium, and copper, enhancing its growth potential [4][22]. - The lithium segment is the core business, with a self-sufficiency rate of 100% for raw materials, and significant capacity expansion expected in the coming years [2][36]. - The cesium and rubidium segment is showing stable growth, with the company holding over 80% of global cesium resources, positioning it as a leader in the industry [3][57]. - The copper and germanium segment is projected to become a significant growth driver, with new projects expected to generate substantial revenue [8][9]. Summary by Sections Company Overview - The company was established in 1999 and listed on the Shenzhen Stock Exchange in 2014, focusing on solid mineral exploration services both domestically and internationally [4][22]. - It has developed a global exploration business, with over 20 subsidiaries and 73 mining rights, including 15 mining rights and 44 exploration rights [4][22]. Lithium Segment - The lithium segment accounted for 40% of revenue and 24% of gross profit in the first half of 2025, with a total production capacity of 71,000 tons/year expected by 2026 [2][36]. - The company has a robust supply chain, with its lithium ore self-sufficiency rate at 100%, allowing it to mitigate market risks associated with price fluctuations [2][36]. Cesium and Rubidium Segment - The cesium and rubidium segment is a significant growth area, with expected production increases from 1,100 tons in 2025 to 1,440 tons by 2027, driven by new applications and stable pricing [3][57]. - Revenue from this segment is projected to grow significantly, with estimates of 1.657 billion yuan in 2025 and 2.219 billion yuan by 2027 [3][57]. Copper and Germanium Segment - The company is investing in the Kitumba copper mine, with an expected annual output value of 4.8 billion yuan once fully operational [8]. - The Tsumeb smelter acquisition is anticipated to provide new revenue streams, with projected annual output values of approximately 1.24 billion yuan from germanium, gallium, and zinc [9]. Financial Projections - Revenue forecasts for 2025, 2026, and 2027 are 6.08 billion yuan, 8.06 billion yuan, and 10.99 billion yuan respectively, with net profits expected to rise significantly during this period [10][11]. - The company is expected to benefit from the recovery of lithium prices and the successful launch of new projects, enhancing overall profitability [10][11].

截至发稿，中矿资源市值为314亿元。 每经头条（nbdtoutiao）——雷军挥泪"斩"王腾，小米爱将泄密"失街亭"，大厂正风肃纪"拼牙口" （记者 王晓波） 每经AI快讯，中矿资源（SZ 002738，收盘价：43.51元）9月9日晚间发布公告称，截至本公告日，公司 及控股子公司对外提供的担保总额为人民币39亿元，占2024年12月31日公司经审计归属于上市公司股东 净资产的比例为32.02%；实际发生担保总额为人民币约23.75亿元，占2024年12月31日公司经审计归属 于上市公司股东净资产的比例为19.49%。 2025年1至6月份，中矿资源的营业收入构成为：锂电新能源原料开发与利用占比40.01%，稀有轻金属 （铯和铷）资源开发与利用占比21.67%，其他业务收入占比21.11%，贸易占比16.83%，固体矿产勘查 技术服务占比0.38%。 ...

中矿资源集团股份有限公司 关于全资子公司为公司提供担保的公告 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。 证券代码：002738 证券简称：中矿资源 公告编号：2025-041号 中矿资源集团股份有限公司 一、担保情况概述 中矿资源集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 5 月 15 日召开的 2024 年度股东会审议通过了《关于公司及子公司 2025 年度对外 担保额度预计的议案》，同意公司为合并报表范围内的各级全资及控股子公司（包 含现有及授权期新设立、收购等方式取得的纳入公司合并报表范围内的各级全资 及控股子公司）提供担保；同意合并报表范围内的全资子公司为公司提供担保。 预计 2025 年度前述担保事项累计额度最高不超过人民币 850,000.00 万元（包括 公司与子公司之间、子公司与子公司之间提供的担保金额）。其中，中矿资源（江 西）新材料有限公司（以下简称"江西中矿新材"）为本公司提供的担保额度为 人民币 490,000.00 万元。 公司拟向兴业银行股份有限公司北京经济技术开发区支行（以下简称"兴业 银行"）申请人民 ...

9月8日，中矿资源涨4.30%，成交额19.25亿元。两融数据显示，当日中矿资源获融资买入额3.16亿元， 融资偿还2.58亿元，融资净买入5856.84万元。截至9月8日，中矿资源融资融券余额合计16.72亿元。 截至6月30日，中矿资源股东户数6.59万，较上期增加3.78%；人均流通股10786股，较上期减少3.67%。 2025年1月-6月，中矿资源实现营业收入32.67亿元，同比增长34.89%；归母净利润8912.89万元，同比减 少81.16%。 分红方面，中矿资源A股上市后累计派现17.28亿元。近三年，累计派现15.92亿元。 机构持仓方面，截止2025年6月30日，中矿资源十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股1640.78万股，相比上期增加78.61万股。东方新能源汽车主题混合（400015）位居第六大 流通股东，持股1110.35万股，持股数量较上期不变。南方中证500ETF（510500）位居第七大流通股 东，持股1074.06万股，相比上期增加144.03万股。 责任编辑：小浪快报 融资方面，中矿资源当日融资买入3.16亿元。当前融资余额16.64亿元，占流 ...

Core Viewpoint - The AI Fund Dongfang New Energy Vehicle Theme Mixed Fund (400015) reported a profit of 391 million yuan for the first half of 2025, with a weighted average profit per fund share of 0.0946 yuan, and a net value growth rate of 4.59% during the reporting period [2]. Fund Performance - As of September 3, the fund's unit net value was 2.411 yuan, with a one-year cumulative net value growth rate of 57.84%, ranking 41 out of 169 comparable funds [2][5]. - The fund's three-month net value growth rate was 25.30%, ranking 56 out of 171 comparable funds, and the six-month growth rate was 10.29%, ranking 120 out of 171 [5]. Valuation Metrics - As of June 30, 2025, the fund's weighted average price-to-earnings (P/E) ratio was approximately 35.38 times, lower than the industry average of 36.17 times. The weighted average price-to-book (P/B) ratio was about 2.64 times, compared to the industry average of 2.99 times, and the weighted average price-to-sales (P/S) ratio was approximately 2.21 times, lower than the industry average of 2.5 times [10]. Growth Indicators - For the first half of 2025, the fund's weighted average revenue growth rate was 0.07%, and the weighted average net profit growth rate was 0.04%, with a weighted annualized return on equity of 0.07% [17]. Fund Composition and Holdings - As of June 30, 2025, the fund had a total scale of 7.858 billion yuan and held 1.0692 million investors, with individual investors holding 99.82% of the shares [32][35]. - The fund's top ten holdings included companies such as Ningde Times, Huichuan Technology, and BYD, with a concentration exceeding 60% for the top ten holdings over the past two years [40].

Core Viewpoint - The AI Fund Huashang New Energy Vehicle Mixed A (013886) reported a profit of 9.1633 million yuan for the first half of 2025, with a net value growth rate of 2.64% and a fund size of 323 million yuan as of the end of June 2025 [3][33]. Fund Performance - As of September 3, 2025, the fund's unit net value was 0.517 yuan, with a one-year net value growth rate of 43.86%, ranking 305 out of 604 comparable funds [3][6]. - The fund's performance over the last three months showed a net value growth rate of 25.61%, ranking 181 out of 607 comparable funds [6]. - The fund's three-year net value growth rate was -44.40%, ranking 494 out of 495 comparable funds [6]. Valuation Metrics - As of June 30, 2025, the fund's weighted average price-to-earnings (P/E) ratio was approximately 20.08 times, significantly lower than the industry average of 33.74 times [12]. - The weighted average price-to-book (P/B) ratio was about 2.48 times, slightly above the industry average of 2.47 times [12]. - The weighted average price-to-sales (P/S) ratio was approximately 1.28 times, compared to the industry average of 2.07 times [12]. Growth Metrics - For the first half of 2025, the fund's weighted average revenue growth rate was 0.14%, and the weighted average net profit growth rate was 0.15% [19]. - The weighted annualized return on equity was 0.12% [19]. Risk and Return Metrics - The fund's three-year Sharpe ratio was -0.7128, ranking 465 out of 468 comparable funds [25]. - The maximum drawdown over the past three years was 65.02%, ranking 2 out of 483 comparable funds [28]. - The fund's turnover rate for the last six months was approximately 284.29%, consistently above the industry average [39]. Fund Holdings - As of June 30, 2025, the fund had 14,800 holders, with a total of 768 million shares held [36]. - The top ten holdings included companies such as CATL, Li Auto, and BYD [42].

Market Overview - On September 5, the small metals sector rose by 3.22% compared to the previous trading day, with Dongfang Tantalum leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Individual Stock Performance - Dongfang Silver Industry (000962) closed at 22.55, up 10.00% with a trading volume of 267,200 shares and a transaction value of 581 million [1] - Zhongkuang Resources (002738) closed at 42.56, up 7.58% with a trading volume of 454,700 shares and a transaction value of 1.895 billion [1] - Shenghe Resources (600392) closed at 22.90, up 5.58% with a trading volume of 1,306,200 shares and a transaction value of 2.936 billion [1] - Other notable performers include Dongfang Cuo Industry (002167) up 5.00%, Jintian Titanium Industry (688750) up 4.68%, and Tin Industry Co. (000960) up 3.88% [1] Capital Flow Analysis - The small metals sector experienced a net outflow of 161 million from institutional investors and 101 million from speculative funds, while retail investors saw a net inflow of 262 million [1] - Shenghe Resources (600392) had a net inflow of 1.16 billion from institutional investors, while it faced a net outflow of 1.44 billion from speculative funds [2] - Xiamen Tungsten (600549) reported a net inflow of 88.79 million from institutional investors but a net outflow of 10.35 million from speculative funds [2] - Dongfang Cuo Industry (002167) had a net inflow of 67.50 million from institutional investors, with a net outflow of 47.39 million from speculative funds [2]

Core Viewpoint - The A-share market for lithium mining stocks experienced significant gains in the afternoon session, indicating strong investor interest and market momentum in this sector [1] Group 1: Stock Performance - XINWANDA saw an increase of over 14% [1] - Ganfeng Lithium reached a 10% limit up [1] - Yihui Lithium Energy rose by more than 9% [1] - Defang Nano and Tianqi Lithium both increased by over 8% [1] - Zhongmin Resources and Yongxing Materials both gained over 7% [1] - Dongyangguang, Shengxin Lithium Energy, Tibet Zhufeng, and Huayou Cobalt all rose by over 6% [1] - Rongjie Co., Naipu Mining, Guocheng Mining, Salt Lake Co., and Jiangte Electric all saw increases of over 5% [1]

Group 1: Liquidity and Performance of Rare Metal ETFs - The rare metal ETF had an intraday turnover of 6.52%, with a transaction volume of 144 million yuan [2] - Over the past week, the average daily transaction volume of the rare metal ETF reached 228 million yuan, ranking first among comparable funds [2] - The rare metal ETF's scale increased by 68.32 million yuan in the past week, achieving significant growth and ranking first among comparable funds [2] - The latest share count of the rare metal ETF reached 2.992 billion shares, a new high since its inception, also ranking first among comparable funds [2] - In the last five days, the rare metal ETF experienced continuous net inflows, with a maximum single-day net inflow of 116 million yuan, totaling 333 million yuan [2] - As of September 4, 2025, the net value of the rare metal ETF increased by 77.68% over the past year, ranking 433 out of 3004 in the index stock fund category, placing it in the top 14.41% [2] - The highest monthly return since inception for the rare metal ETF was 24.02%, with the longest consecutive monthly increase being four months and a maximum increase of 58.56% [2] - The average return during the rising months was 8.77%, and the annualized excess return over the benchmark for the past three months was 9.14% [2] Group 2: Market Trends and Company Performance - The rare metal sector is experiencing multiple favorable factors, with rising rare earth prices improving the profitability of related companies [3] - Shenghe Resources reported significant year-on-year growth in rare earth and rare metal production and sales for the first half of 2025, driven by changes in market supply and demand dynamics [3] - The gross profit margin for Shenghe Resources reached 8.42% in H1 2025, an increase of 6.95 percentage points year-on-year, with Q2 2025 gross profit margin at 8.84%, up 5.82 percentage points year-on-year [3] - The company is strengthening its rare earth industry chain layout through a diversified raw material supply assurance system, indicating potential for continued performance improvement [3] - CITIC Construction pointed out that the monetary easing from the Federal Reserve and domestic policies aimed at optimizing production factors are conducive to the upward transmission of metal prices to downstream sectors [3] - The valuation of the industrial metal sector is currently low, suggesting potential for upward correction [3] - The top ten weighted stocks in the CSI Rare Metal Theme Index account for 57.58% of the index, including companies like Northern Rare Earth, Luoyang Molybdenum, and Ganfeng Lithium [3]