2025 年上半年公司矿产金/矿产银毛利率分别为79.15%/55.20%，同比分别为+7.26/+6.03pct。 资源禀赋优异，纳米比亚Osino 为未来重要增长极。公司资源禀赋优异，黑河洛克是国内入选品位较高 的金矿，吉林板庙子是国内生产管理水平较为先进的矿山，青海大柴旦探矿增储潜力大，玉龙矿业是目 前国内矿产银（含量银）最大的单体矿山之一。公司积极拓展国际化资源版图，旗下Osino 在纳米比亚 拥有丰富的采矿开发和勘查项目，选厂建设将于2025年第四季度开始，计划于2027 年上半年投产，投 产后预计年均黄金产量5 吨，将成为公司重要的增长极。 事件：2025 年8 月19 日，公司发布2025 年半年报，报告期内公司实现收入92.46 亿元，同比+42.14%； 归母净利润15.96 亿元，同比+48.43%；扣非净利润15.98 亿元，同比+41.87%。其中第二季度实现收入 49.24 亿元，同比+31.95%，环比+13.95%；归母净利润9.02 亿元，同比+57.67%，环比+29.99%；扣非 净利润8.95 亿元，同比+42.66%，环比+27.12%。 矿产金产量环比略增，成本管控持 ...

据证券之星公开数据整理，近期锡业股份（000960）发布2025年中报。截至本报告期末，公司营业总收 入210.93亿元，同比上升12.35%，归母净利润10.62亿元，同比上升32.76%。按单季度数据看，第二季 度营业总收入113.65亿元，同比上升9.53%，第二季度归母净利润5.62亿元，同比上升18.76%。本报告 期锡业股份盈利能力上升，毛利率同比增幅3.44%，净利率同比增幅18.71%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率12.34%，同比增3.44%，净利率5.35%，同比增 18.71%，销售费用、管理费用、财务费用总计5.5亿元，三费占营收比2.61%，同比减26.03%，每股净资 产11.78元，同比增6.74%，每股经营性现金流0.87元，同比减8.15%，每股收益0.63元，同比增30.25% | 锡业股份 最新财务摘要 | | --- | | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 187.75亿 | 210.93亿 | 12.35% | | 归母净利润(元) | ...

2、信息技术赋能有色金属产业是行业趋势，公司在锡冶炼 工厂数字化建设方面已经取得了一定成果，未来如何进一步深化 数字化应用，例如利用大数据、人工智能等技术实现生产过程的 精准控制、设备的智能运维，从而提升整体运营管理水平和经济 效益？ 感谢投资者对公司的关注。公司重视信息技术和数字技术， 并将数字技术引入锡冶炼及生产经营各环节，强化实现数字化转 型，以数字化驱动生产运营和经营管理变革，不断提升运营效率 和管理效能，推动公司实现更高质量发展。 3、公司如何应对锡矿品位的下降问题？目前公司对锡金属 的回收率有多少？如何实现的？ 感谢投资者对公司的关注，公司一方面将持续加大科技攻关 力度，努力提升相关经济技术指标，另一方面未来拟通过资源拓 展与整合、尾矿资源综合利用等方式不断提升公司资源保障能力 及可持续发展能力。 4、考虑到锡资源稀缺性及战略性日益凸显，且未来锡精矿 供应增长弹性较低，公司在提升现有锡矿开采效率、延长矿山服 务年限方面有哪些具体规划和技术创新举措？鉴于海外锡矿生 产环境稳定性不足，公司未来在拓展海外锡矿资源合作项目上， 将重点关注哪些地区和项目类型？ 感谢投资者对公司的关注。公司高度重视资源拓展并 ...

Summary of Aeris Resources (1ZN) Conference Call - July 24, 2025 Company Overview - **Company**: Aeris Resources - **Market Capitalization**: Approximately $200 million [3] - **Current Debt**: Around $40 million [4] Key Operations and Projects - **Operating Mines**: - Chrytham Copper Mine - Krakow Gold Mine - **Projects in Development**: - Stockman Copper Zinc Project (feasibility study ongoing) - Jaguar Copper Zinc Mine (currently in care and maintenance) [2][3][9] Production and Financial Guidance - **Triton Mine**: Expected production increase of 37% to approximately 25,000 tons of copper [5] - **Krakow Mine**: Anticipated production of 40,000 to 45,000 ounces of gold annually [7] - **Overall Production Guidance**: - Copper equivalent tons between 40,000 and 49,000 [14] - Gold production between 44,000 and 56,000 ounces [15] - **Exploration Budget**: Doubling year-on-year to support resource extensions [7][13] Strategic Focus - **Operational Delivery**: Emphasis on improving production and resource backing for at least five years [6][20] - **Simplification of Business**: Decision to divest North Queensland assets to release cash and reduce debt [8][29] - **Cost Management**: Reducing care and maintenance costs for Jaguar Mine from $2 million to $600,000 quarterly [10] Future Growth and Exploration - **Consolation Deposit**: Key focus for future production, aiming for open pit mining and then underground [6] - **Stockman Project**: Potential for sulfuric acid production due to high pyrite content; seeking financial partners for further development [12][28] - **Krakow Exploration**: Identifying new opportunities in the Southern Rainfield and Golden Plateau areas [23][24] Market Position and Opportunities - **Competitive Landscape**: Positioned as one of the larger producers in the region with significant upside potential [15][29] - **Financial Health**: Starting FY '26 with healthy cash and receivables close to $50 million [16] Conclusion - **Outlook**: Strong confidence in operational improvements and resource conversions, with significant upside potential for Aeris Resources moving forward [29]

Group 1 - The company emphasizes resource expansion as a long-term development strategy, with significant investments in geological research and exploration activities, resulting in new tin resources of 17,600 tons and copper resources of 34,800 tons discovered in 2024 [2] - The company holds tungsten oxide resources of 77,800 tons and has received a quota of 688 tons for tungsten mining in 2025, which will be organized according to provincial regulations [3] - Global tin supply remains tight due to slow recovery in Southeast Asian tin-producing countries and temporary shutdowns in African countries, leading to a decline in domestic refined tin production and inventory [4] Group 2 - The company is implementing cost control measures through lean management and optimizing the entire production process to enhance operational efficiency amid low smelting processing fees [5] - The company is progressing with its share repurchase plan, which was approved by the board and will be submitted for shareholder approval [6] - The company has established a value management system to enhance performance and shareholder returns through increased cash dividends and share buybacks [7] Group 3 - In Q1 2025, the company reported a main revenue of 9.729 billion yuan, a year-on-year increase of 15.82%, and a net profit attributable to shareholders of 499 million yuan, up 53.09% [8] - The company has seen a net outflow of 323 million yuan in financing over the past three months, with a decrease in financing balance, while the short-selling balance has increased [9]