Group 1: Precious Metals - The report emphasizes the long-term allocation value of precious metals, particularly gold, supported by central bank purchases and a weakening dollar credit system [10][11][44] - Gold demand is expected to remain strong due to central bank purchases, with a total of 219.85 tons purchased in Q3 2025, marking a historical high [18][20] - Silver is projected to experience strong price momentum due to persistent supply-demand gaps and low domestic inventory levels [28][39] Group 2: Copper - The copper mining sector is expected to maintain low growth rates, with a projected supply shortage in 2026 due to ongoing mining and smelting conflicts [12][45] - Global copper production is anticipated to increase by approximately 10,000 tons, 70,000 tons, and 84,000 tons from 2025 to 2027, while smelting capacity is expected to rise by 217,000 tons, 100,000 tons, and 20,000 tons respectively [12][47] - The report suggests focusing on leading companies in the copper sector, such as Zijin Mining and Jiangxi Copper, as supply tightens [2][12] Group 3: Aluminum - The aluminum market is expected to maintain a tight balance, with domestic production growth rates projected at 2.2%, 1.4%, and 0.4% from 2025 to 2027 [3][13] - Demand for aluminum remains resilient, driven by investments in new energy and power grids, with a projected domestic demand growth of 2.6%, 1.0%, and 3.6% over the same period [3][13] - The report highlights the importance of high dividend stocks in the aluminum sector, recommending companies like China Hongqiao and Tianshan Aluminum [3][13] Group 4: Cobalt - The cobalt supply chain is being reshaped by policies in the Democratic Republic of Congo, leading to a significant reduction in global supply, with projections of only 96,600 tons contributed annually from 2026 to 2027 [4][14] - Demand for cobalt is expected to grow, particularly in high-end electric vehicles and solid-state batteries, with a projected global shortage of 32,000 tons and 31,000 tons in 2026 and 2027 respectively [4][14] - Companies benefiting from cobalt price elasticity, such as Huayou Cobalt and Luoyang Molybdenum, are recommended for investment [4][14]

证券日报网讯12月11日，腾远钴业（301219）在互动平台回答投资者提问时表示，截至2025年12月10 日，公司股东户数为29429户。 ...

证券之星消息，12月8日能源金属板块较上一交易日上涨2.94%，赣锋锂业领涨。当日上证指数报收于 3924.08，上涨0.54%。深证成指报收于13329.99，上涨1.39%。能源金属板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002460 | 赣锋锂业 | 3.67 Z | 8.50% | -1.19 Z | -2.76% | -2.48 Z- | -5.74% | | 002240 | 盛新锂能 | 1.78亿 | 9.59% | 573.93万 | 0.31% | -1.84 Z | -9.90% | | 002466 天齐锂业 | | 1.50 Z | 4.45% | 9745.84万 | 2.89% | -2.47 Z- | -7.34% | | 002192 融捷股份 | | 1.17 Z | 13.46% | 3848.65万 | 4.44% | -1.55 Z | -17. ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000408 | 藏格矿业 | 62.92 | 3.52% | 30.88万 | | 19.60亿 | | 600711 | 盛屯矿业 | 12.58 | 1.94% | 208.04万 | | 26.48亿 | | 301219 | 腾远钻业 | 62.61 | 1.29% | 6.73万 | | 4.22亿 | | 605376 | 博迁新材 | 49.56 | 0.59% | 2.85万 | | 1.42亿 | | 603799 | 华友钻业 | 62.11 | 0.45% | 58.38万 | | 36.62亿 | | 300618 | 塞锐钻业 | 44.35 | 0.34% | 8.90万 | | 3.98亿 | | 002460 | 赣锋锂业 | 62.55 | 0.00% | 52.12万 | | 32.78亿 | | 002466 | 天齐锂业 | 54.62 | -0.75% | 53.22万 | | 29.34 ...

Core Insights - The energy metals sector experienced a significant decline of 8.9% on November 21, with Hanrui Cobalt leading the drop [1] - The Shanghai Composite Index closed at 3834.89, down 2.45%, while the Shenzhen Component Index closed at 12538.07, down 3.41% [1] Sector Performance - Major stocks in the energy metals sector saw substantial losses, with several companies reporting a decline of 10% or more, including: - Sai Rui Aluminum: -10.98% [1] - Ganfeng Lithium: -10.00% [1] - Tibet Mining: -10.00% [1] - Yongshan Lithium: -10.00% [1] - Shengxin Lithium Energy: -10.00% [1] - Rongjie Co., Ltd.: -10.00% [1] - Tianqi Lithium: -10.00% [1] - Yongxing Materials: -9.99% [1] - Shengtun Mining: -9.14% [1] - Huayou Cobalt: -8.94% [1] Capital Flow - The energy metals sector saw a net outflow of 3.769 billion yuan from major funds, while retail investors contributed a net inflow of 2.551 billion yuan [1] - Specific stock capital flows indicated: - Ganfeng Lithium: Major net outflow of 10.90 billion yuan [2] - Huayou Cobalt: Major net outflow of 9.51 billion yuan [2] - Tianqi Lithium: Major net outflow of 7.81 billion yuan [2] - Shengtun Mining: Major net outflow of 2.79 billion yuan [2] - Tibet Mining: Major net outflow of 1.71 billion yuan [2]

腾远钴业首次公开发行股票的发行费用总额为2.74亿元，其中保荐机构东兴证券股份有限公司获得保 荐、承销费用2.45亿元。 2022年5月17日，腾远钴业披露的2021年年度权益分派实施公告显示，公司2021年年度权益分派方案为 以公司现有总股本为基数，向全体股东每10股派39.9元人民币现金(含税)，同时，以资本公积金向全体 股东每10股转增8股。本次权益分派股权登记日为2022年5月23日，除权除息日为2022年5月24日。 腾远钴业于2023年5月30日披露的2022年年度权益分派实施公告显示，公司拟以现有总股本226,705,525 股为基数，向全体股东每10股派发现金红利人民币12.00元(含税)，合计派发现金股利人民币 272,046,630.00元(含税)，同时向全体股东以资本公积每10股转增3股，转增后公司总股本将增至 294,717,182股。本次分配不送红股，剩余未分配利润结转以后年度分配。本次权益分派股权登记日为 2023年6月6日，除权除息日为2023年6月7日。 上市首日，腾远钴业盘中最高报230.00元，为上市以来最高点。 腾远钴业首次公开发行股票募集资金总额为54.78亿元，扣除发 ...

Core Viewpoint - The energy metals sector experienced a significant decline of 3.71% on November 18, with Ganfeng Lithium leading the drop [1][2]. Market Performance - The Shanghai Composite Index closed at 3939.81, down 0.81% - The Shenzhen Component Index closed at 13080.49, down 0.92% [1]. Individual Stock Performance - Notable stock movements include: - Shengxin Lithium Energy (002240) rose by 4.12% to 37.41 - Ganfeng Lithium (002460) fell by 5.56% to 69.92 - Tianqi Lithium (002466) decreased by 3.63% to 59.94 - Other companies like Huayou Cobalt (603799) and Rongjie Co. (002192) also saw declines of 4.88% and 3.10% respectively [1][2]. Capital Flow Analysis - The energy metals sector saw a net outflow of 3.281 billion yuan from major funds, while retail investors contributed a net inflow of 1.999 billion yuan [2][3]. - Specific stock capital flows include: - Ganfeng Lithium had a net outflow of 922 million yuan from major funds - Tianqi Lithium experienced a net outflow of 745 million yuan from major funds [3].

Core Insights - The energy metals sector experienced a significant increase of 5.08% on November 17, with Shengxin Lithium Energy leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Company Performance - Shengxin Lithium Energy (002240) closed at 35.93, up 10.01% with a trading volume of 918,100 shares and a transaction value of 3.251 billion [1] - Rongjie Co., Ltd. (002192) also saw a rise of 10.01%, closing at 59.35 with a transaction value of 2.130 billion [1] - Tianqi Lithium (002466) increased by 9.87%, closing at 62.20 with a transaction value of 9.551 billion [1] - Yongxing Materials (002756) rose by 8.86%, closing at 56.28 with a transaction value of 2.258 billion [1] - Ganfeng Lithium (002460) increased by 7.48%, closing at 74.04 with a transaction value of 9.520 billion [1] Market Capital Flow - The energy metals sector saw a net inflow of 2.779 billion from main funds, while retail funds experienced a net outflow of 1.77 billion [2] - The main funds' net inflow for Ganfeng Lithium was 726 million, accounting for 7.62% of its trading volume [3] - Tianqi Lithium had a net inflow of 717 million from main funds, representing 7.51% of its trading volume [3] - Huayou Cobalt (603799) recorded a net inflow of 497 million from main funds, which is 5.69% of its trading volume [3]

Core Viewpoint - The company has initiated production of ternary precursor products, with current sales status indicating limited volume, as the focus remains on copper and cobalt products [2]. Group 1: Production Capacity - The company's wholly-owned subsidiary, Ganzhou Tengchi New Energy Materials Technology Co., Ltd., has established a production capacity of 20,000 tons for ternary precursors and 10,000 tons for cobalt tetroxide [2]. - Cobalt tetroxide has already been sold externally, while ternary precursors are currently in the sample delivery phase [2]. Group 2: Sales and Market Outlook - The company has not separately listed ternary precursor products in its performance reports, suggesting that current production and sales volumes are relatively small [2]. - Further updates on the sales progress of ternary precursor products will be provided in the company's upcoming periodic reports [2].

Core Viewpoint - The company, Tengyuan Cobalt Industry, has raised a net amount of 5.204 billion yuan through its initial public offering, primarily aimed at expanding production capacity and upgrading technology for cobalt and nickel products [2]. Group 1: Fund Utilization - The raised funds are allocated for projects including the annual production of 20,000 tons of cobalt and 10,000 tons of nickel, along with the technological upgrade of related production facilities [2]. - Specific construction projects include production lines for cobalt (39,500 tons), copper (30,000 tons), nickel (60,000 tons), manganese (21,820 tons), and lithium carbonate (20,000 tons) [2]. Group 2: Current Production Capacity - As of now, the company has achieved a production capacity of 31,500 tons for cobalt, 10,000 tons for nickel, 10,000 tons for manganese, 5,000 tons for lithium carbonate, and 60,000 tons for copper [2]. - The project benefits are expected to gradually materialize as production capacity is realized, with the company planning to advance capacity expansion in an orderly manner based on resource supply, market conditions, and product demand [2].