供应端成本筑底，增量有限。国内环保政策持续收紧，抬升了合规生产成本，为价格提供了坚实的底部 支撑。同时，冬季铅矿开采受限、废电瓶回收难度加大，导致原生铅与再生铅的原料供应双双偏紧，制 约了整体产量释放。尽管社会库存略有累积，但绝对水平仍处低位，对价格的压制作用较弱。 【ccmn.cn铅期货市场】隔夜伦铅收跌，开盘报2027.5美元/吨，高点报2036美元，低点报2016美元，尾 盘收于2027美元，跌1美元，跌幅0.05%；成交量5927手，持仓量171290手。 长江铅业网(pb.ccmn.cn)今日现货铅价行情预估：寒枝凝霜临岁末，铅市波摇遇下行。铅价在多重宏观 与市场因素共振下震荡走低。核心压力源于美联储暂停降息推动美元反弹，抬升了以美元计价的有色金 属成本，削弱了外盘支撑。同时，临近春节假期，市场流动性季节性收紧，资金观望情绪浓厚，叠加当 日市场资金高度集中于贵金属等板块，导致铅市缺乏增量资金推动，价格承压下行。 新浪合作大平台期货开户 安全快捷有保障 综合来看，影响铅价波动的核心变量清晰：外部主要关注美联储政策路径与美元走势，内部则聚焦节后 下游需求的复苏节奏以及产业成本线的变化。铅市正处于短期宏观 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月27日盘后，多家A股公司披露的2025年业绩预告"报喜"。 据不完全统计，包括宁波富邦（600768）、金马游乐（300756）、怡球资源（601388）、智明达（688636）、南都物业（603506）、南亚新材（688519） 等多家公司，预计2025年实现了4倍以上增长。 其中，宁波富邦披露，预计2025年度归母净利润为5000万元至7000万元，同比增长3099.59%至4379.43%。公司称，业绩增长主要系核心电接触产品业务 受益于银价上涨，营收与盈利提升。同时，公司将持有的宁波中华纸业有限公司2.5%股权以3.70亿元的价格转让给金光纸业（中国）投资有限公司，导致 相关股权公允价值变动产生了较大收益。 与宁波富邦情况相似的还有尖峰集团和南都物业。 尖峰集团预计2025年实现归母净利润4.60亿元左右，同比增加325.97%左右。公司称，2025年归母净利润大幅增加、扣除非经常性损益的净利润大幅减少 的主要原因是报告期公司权益法核算的联营企业天士力集团出售了其所持的股权资产，使得其报告期的利润大幅增长，该部分出售资产所得 ...

Core Viewpoint - The company, Huazhi Jie, reported strong financial performance in its first half-year earnings post-IPO, benefiting from the recovery in downstream demand in the electric tools industry [1][2] Financial Performance - In the first half of 2025, the company achieved operating revenue of 700 million yuan, a year-on-year increase of 27.71% [1] - The net profit attributable to shareholders was 83.15 million yuan, reflecting a year-on-year growth of 11.44% [1] - The net profit excluding non-recurring items was 82.87 million yuan, up 13.39% year-on-year [1] - The company's operating cash flow significantly improved, with a net cash flow of 95.12 million yuan, a dramatic increase of 135,526.6% compared to the same period last year [2] Business Segmentation - The majority of the company's revenue, 650 million yuan, came from the electric tools sector, accounting for 94.5% of its main business revenue, which grew by 28.84% year-on-year [1][2] - The company focuses on the smart control industry, specializing in the research, production, and sales of lithium battery electric tools and consumer electronics components [1] Market Position and Strategy - Huazhi Jie has established a leading market position in the electric tools components sector due to its long-term operations in the industry [2] - The company is expanding into new areas such as lithium battery garden machinery, smart home devices, new energy vehicles, charging piles, drones, and liquid-cooled servers [2] - As of June 30, 2025, the company held 303 patents, including 72 invention patents, and had 88 patents pending, with 41 of them being invention patents [2]

Core Viewpoint - Dongwu Securities has issued a "buy" rating for Yihuada (301029.SZ) based on several positive indicators for the company's future performance [2] Group 1: Performance Outlook - Downstream demand is recovering, and the company is expected to maintain high growth in performance through the first half of 2025 [2] - Significant improvement in gross profit margin, while expense ratio remains stable [2] Group 2: Business Development - The FA (Factory Automation) business is continuously deepening product development [2] - The FB (Factory Building) business is upgrading to open new growth avenues [2]

Investment Rating - The steel industry is rated as "Neutral" [4] - The non-ferrous metals industry is rated as "Positive" [4] Core Insights - The recovery of downstream demand in the domestic market is expected to support steel prices in the short term, while macroeconomic news and events should be monitored [2][4] - Copper prices are supported by tight copper ore supply, but uncertainties regarding tariffs and trade wars may exert pressure on prices; expectations of domestic stimulus to boost macro demand are favorable for copper prices [2][4] - Aluminum prices may continue to decline due to the absence of large-scale production cuts in alumina plants, while export demand is pressured by EU sanctions and announced tariffs from the US [3][4] - Gold prices may have room for growth driven by safe-haven demand, despite uncertainties surrounding tariff policies [3][4] Industry Data Summary Steel - The steel industry has seen an increase in both supply and demand, with overall inventory rising; cold-rolled and medium-thick plate inventories have decreased, indicating better demand for plates compared to construction materials [18] - As of February 14, the total steel inventory was 18.21 million tons, up 8.77% from the previous week but down 11.86% year-on-year [26] - The production of five major steel varieties was 8.1462 million tons, a 0.74% increase from the previous week and a 1.31% increase year-on-year [20] Copper - Domestic macro sentiment has improved, providing some support for copper prices; however, the processing fees for copper concentrate have been declining, increasing cost pressures for domestic smelting companies [34][35] - As of February 14, LME copper spot prices were $9,800 per ton, up 5.64% from the previous week [39] Aluminum - Domestic demand for aluminum is recovering, providing some support for prices; however, alumina prices are expected to continue their downward trend [41][43] - As of February 14, LME aluminum spot prices were $2,700 per ton, up 0.85% from the previous week [44] Precious Metals - Gold prices have increased due to rising safe-haven demand and a weaker dollar; as of February 14, COMEX gold closed at $2,893.70 per ounce, up 0.26% from the previous week [50] Lithium and New Energy Metals - The price of battery-grade lithium carbonate has decreased, with a price of 76,400 yuan per ton as of February 14, down 1.42% from the previous week [53] Rare Earths and Minor Metals - The price of light rare earths, such as praseodymium-neodymium oxide, was 434,000 yuan per ton as of February 14, up 2.12% from the previous week [59]