Group 1 - The company has obtained two exploration rights and one mining right in the Democratic Republic of the Congo (DRC) [2] - The company is engaged in joint development and exploration cooperation with other holders of quality mining rights in the region [2]

Core Viewpoint - The energy metals sector experienced a slight increase of 0.17% on January 9, with Shengtun Mining leading the gains. The Shanghai Composite Index closed at 4120.43, up 0.92%, while the Shenzhen Component Index closed at 14120.15, up 1.15% [1]. Group 1: Market Performance - The energy metals sector saw individual stock performances with notable gains, including Shengdian Mining at 16.70, up 1.83%, and Sairui Mining at 48.37, up 1.81% [1]. - The trading volume for Shengdian Mining reached 1.58 million shares, with a transaction value of 2.636 billion [1]. - The overall market showed a mixed trend with major indices reflecting positive movements, indicating investor confidence in the sector [1]. Group 2: Capital Flow - The energy metals sector experienced a net outflow of 700 million from institutional investors, while retail investors contributed a net inflow of 554 million [2]. - The capital flow data indicates that retail investors were more active in the market, with a significant net inflow compared to institutional outflows [2]. - Specific stocks like Rongjie Co. saw a net inflow of 11.19 million from institutional investors, while others like Cangge Mining faced significant outflows [3]. Group 3: Individual Stock Analysis - Rongjie Co. had a net inflow of 11.19 million from institutional investors, while it faced a net outflow of 34.07 million from retail investors [3]. - Sairui Mining also showed a net inflow of 10.00 million from institutional investors, but a net outflow of 20.46 million from retail investors [3]. - Cangge Mining experienced the highest net outflow of 97.16 million from institutional investors, indicating potential concerns among larger investors [3].

Core Viewpoint - Tengyuan Cobalt Industry (301219.SZ) has completed a share reduction plan executed by its shareholder, Changjiang Chenda, resulting in a decrease in its total shareholding [1] Group 1 - The share reduction took place from October 16, 2025, to January 6, 2026, during which Changjiang Chenda reduced its holdings by 2,932,009 shares, accounting for 0.995% of the company's total share capital [1] - As of January 6, 2026, Changjiang Chenda holds 12,205,924 shares, representing 4.14% of the total share capital, and 4.16% when excluding shares held in the company's repurchase account [1] - The share reduction plan has been fully implemented [1]

Core Viewpoint - Tengyuan Cobalt Industry (301219.SZ) has completed a share reduction plan executed by its shareholder, Changjiang Chenda, resulting in a decrease in its total shareholding [1] Group 1: Share Reduction Details - Changjiang Chenda reduced its holdings by a total of 2,932,009 shares through centralized bidding transactions, which accounts for 0.995% of the company's total share capital [1] - As of January 6, 2026, Changjiang Chenda holds 12,205,924 shares, representing 4.14% of the company's total share capital, and 4.16% when excluding shares held in the company's repurchase special securities account [1] - The share reduction plan has been fully implemented [1]

证券代码：301219 证券简称：腾远钴业 公告编号：2026-001 赣州腾远钴业新材料股份有限公司 一、股东减持股份情况 | 股东名称 | 减持方式 | 减持期间 | 减持均价 | 减持股数（股） | 减持比例（%） | | --- | --- | --- | --- | --- | --- | | 长江晨道 | 集中竞价交易 | 2025/10/16-2026/1/6 | 64.56 | 2,932,009 | 0.995 | 二、股东本次减持前后持股情况 | 股东名称 | 股份性质 | | 本次减持前持有股份 | | 本次减持后持有股份 | | --- | --- | --- | --- | --- | --- | | | | 股数（股） | 占总股本比例 | 股数（股） | 占总股本比例 | | 长江晨道 | 合计持有股份 | 15,137,933 | 5.14% | 12,205,924 | 4.14% | | | 其中：无限售条件股份 | 15,137,933 | 5.14% | 12,205,924 | 4.14% | | | 有限售条件股份 | 0 | 0 | 0 | 0 | 三、其他相关说 ...

东兴证券股份有限公司 关于赣州腾远钴业新材料股份有限公司 2025 年度持续督导定期现场检查报告 | 保荐机构名称： 东兴证券股份有限公司 被保荐公司简称：腾远钴业 | | | | --- | --- | --- | | 吴东 保荐代表人姓名： 联系电话：010-66555196 | | | | 保荐代表人姓名：崔永新 联系电话：010-66555196 | | | | 现场检查人员姓名：吴东 | | | | 年度 现场检查对应期间：2025 | | | | 现场检查时间：2025 年 月 18 日 | 12 | | | 一、现场检查事项 现场检查意见 | | | | （一）公司治理 是 否 不适用 | | | | 现场检查手段：现场检查人员对公司董事会秘书、财务总监进行访谈；查看公司章程、 | | | | 公司治理制度；查阅公司三会会议文件；现场查看上市公司的主要生产、经营场所。 | | | | 1.公司章程和公司治理制度是否完备、合规  | | | | 2.公司章程和三会规则是否得到有效执行  | | | | 3.三会会议记录是否完整，时间、地点、出席人员及会  | | | | 议内容等要件是否齐备 ...

一、本次培训的主要内容 2025 年 12 月 18 日，东兴证券保荐代表人吴东重点介绍了有关新公司法下 公司治理结构、上市公司规范运作、企业内部控制等方面的内容，并结合违反相 应法律规定的案例及处罚情况阐述了上市公司实际控制人、董监高的法律责任与 义务。 东兴证券股份有限公司 关于赣州腾远钴业新材料股份有限公司 2025 年度持续督导培训报告 深圳证券交易所： 东兴证券股份有限公司（以下简称"东兴证券"）作为赣州腾远钴业新材料 股份有限公司（以下简称"腾远钴业"）（301219.SZ）首次公开发行股票并在创 业板上市的保荐机构，按照《深圳证券交易所创业板股票上市规则》和《深圳证 券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等相关文 件的要求，对腾远钴业的控股股东及实际控制人、董事、高级管理人员等相关人 员进行了 2025 年度持续督导培训，现将培训情况报告如下： （本页无正文，为《东兴证券股份有限公司关于赣州腾远钴业新材料股份有 限公司 2025 年度持续督导培训报告》之签章页） 保荐代表人： 吴 东 崔永新 东兴证券股份有限公司 年 月 日 二、参加本次培训的人员 腾远钴业控股股东、 ...

Group 1 - The core viewpoint of the news highlights the performance of the non-ferrous metal industry, with the National Index for Non-Ferrous Metals (399395) rising by 0.72% and specific stocks like Guocheng Mining (000688) and Huayou Cobalt (603799) showing significant gains [1] - The COMEX gold futures increased by 0.2% to $4,352.3 per ounce, while spot gold rose by 0.17% to $4,338.83 per ounce, indicating a strong momentum in precious metals [1] - The article mentions a policy from the National Development and Reform Commission encouraging mergers and reorganizations in resource-constrained industries like alumina, which has led to a significant rise in alumina prices [1] Group 2 - The Non-Ferrous Metals ETF (159880) closely tracks the National Index for Non-Ferrous Metals, which includes 50 securities that reflect the overall performance of listed companies in the non-ferrous metal sector [2] - As of November 28, 2025, the top ten weighted stocks in the National Index for Non-Ferrous Metals account for 52.34% of the index, with companies like Zijin Mining (601899) and Luoyang Molybdenum (603993) being prominent [2]

Group 1 - The energy metals sector increased by 1.84% on December 30, with Shengtu Mining leading the gains [1] - The Shanghai Composite Index closed at 3965.12, unchanged, while the Shenzhen Component Index rose by 0.49% to 13604.07 [1] - Key stocks in the energy metals sector showed varied performance, with Jidian Mining up by 4.72% and Ganfeng Lithium down by 1.79% [2] Group 2 - The main capital flow in the energy metals sector showed a net outflow of 153 million yuan from institutional investors and 158 million yuan from speculative funds, while retail investors had a net inflow of 311 million yuan [2][3] - Specific stock capital flows indicated that Huayou Cobalt had a net inflow of 490 million yuan from main funds, while Shengtu Mining experienced a net outflow of 961.26 million yuan [3] - The overall trading volume and turnover for key stocks in the sector varied, with Yongxing Materials achieving a turnover of 266.68 million yuan and Tianqi Lithium at 3.159 billion yuan [1][2]

Summary of Conference Call on Cobalt Market Dynamics Industry Overview - The cobalt market is experiencing significant changes due to delays in the export of cobalt raw materials from the Democratic Republic of Congo (DRC), leading to a reduction in China's cobalt inventory and a subsequent rise in cobalt prices since December [1][2][3]. Key Points and Arguments - **Cobalt Price Surge**: The price of electrolytic cobalt in Wuxi has reached 436,000 yuan, marking a new high for the year. This increase aligns with previous expectations discussed in early December [2]. - **Supply Chain Disruptions**: The DRC's cobalt export process is still under approval, causing delays that are expected to extend into January. This has resulted in a significant reduction in China's cobalt inventory, which is projected to drop to approximately 8,000 tons by the end of April 2024, enough for only half a month's usage [3][4]. - **Future Price Predictions**: It is anticipated that cobalt prices could reach an average of 500,000 to 600,000 yuan per ton in 2026, driven by potential supply shortages and increased demand as companies prepare for possible disruptions [1][6]. - **Beneficiary Companies**: Companies with Indonesian MHP production capacity, such as Huayou Cobalt, Greeenmei, and Tengyuan Cobalt, are expected to benefit significantly from rising cobalt prices. Huayou Cobalt's MHP capacity of 230,000 to 240,000 tons will notably enhance its profit elasticity [1][5]. - **Nickel Market Dynamics**: Nickel prices have rebounded due to news from the Indonesian nickel mining sector, but the long-term trend remains uncertain. Strict enforcement of nickel mining quotas by the Indonesian government could shift the market from surplus to a balanced state, benefiting companies like Huayou Cobalt and Greenmei [1][7]. - **Lithium Market Outlook**: The lithium market remains stable, although some lithium iron phosphate companies plan to reduce production temporarily. Overall demand for lithium is expected to depend on battery production schedules. Huayou Cobalt's lithium business is projected to be profitable, especially with the expansion of the Arcadia project [3][7]. Additional Important Insights - **Market Sentiment**: The current market sentiment indicates a potential "short squeeze" scenario for cobalt prices in 2026, as companies may prefer to engage in arbitrage rather than production due to cost imbalances [6]. - **Investment Recommendations**: Investors are advised to focus on companies with robust production reserves, such as Huayou Cobalt, Luxshare Precision, and Greenmei, as they are well-positioned to capitalize on the upcoming market trends [7][8].