锡业股份：上半年归母净利润同比增长32.76%

Core Viewpoint - Yunnan Tin Company Limited reported a strong performance in the first half of 2025, with significant increases in revenue and net profit, indicating a positive growth trend in the company's operations [1] Financial Performance - The company achieved an operating revenue of 21.093 billion yuan, representing a year-on-year growth of 12.35% [1] - The net profit attributable to shareholders reached 1.062 billion yuan, marking a year-on-year increase of 32.76% [1] - The net profit excluding non-recurring items was 1.303 billion yuan, reflecting a year-on-year growth of 30.55% [1] Operational Strategy - Yunnan Tin Company focused on seizing market opportunities and continuously expanding raw material supply channels to ensure stable production [1] - The company leveraged the synergy between its mining and smelting operations, enhancing overall efficiency in metal recovery [1] - A "dual-channel" raw material procurement strategy was implemented, stabilizing traditional ore procurement while actively exploring secondary material resources to strengthen supply chain resilience [1] Production and Efficiency - The company optimized mining and selection processes, improved site management, and refined waste disposal techniques to address challenges in ore output and quality [1] - Overall, Yunnan Tin Company successfully met its production and operational targets, maintaining a steady and positive development trend [1]