证券日报网讯云南锗业（002428）9月15日在互动平台回答投资者提问时表示，截至2025年9月10日，公 司合并普通账户和融资融券信用账户股东总数为119645户。 ...

Core Insights - China has implemented strict export controls on strategic metals such as germanium and gallium in response to U.S. actions against China, leading to a significant supply crisis in Western markets [1][5] - The price of germanium has surged to nearly $5000 per kilogram, a fourfold increase from earlier prices, as Western traders struggle to secure supplies [4][5] Group 1: Supply Chain Impact - Western traders report a drastic reduction in available germanium, with some stating they can only obtain 10 kilograms compared to the previous 100 kilograms [1][4] - Demand for germanium has skyrocketed, particularly from the U.S. and Europe, causing a state of panic in the market [2][4] Group 2: Market Dynamics - The U.S. has seen a 40% year-on-year drop in germanium imports from China from January to July 2025 [4] - The global demand for germanium is estimated to be around 180 to 200 tons annually, with China historically supplying 68.5% of the world's germanium [5] Group 3: Strategic Implications - The export controls may enhance China's defense capabilities, potentially widening the gap with the U.S. in defense technology [6] - Major U.S. defense contractors, such as Lockheed Martin, are now directly seeking germanium supplies, indicating a shift in procurement strategies due to market panic [6]

格隆汇9月15日丨云南锗业(002428.SZ)在投资者互动平台表示，公司前期6英寸磷化铟晶片研发项目已 完成项目研究任务，但从研发到规模化生产尚存在较大不确定性。目前公司及子公司并无6英寸磷化铟 晶片量产的具体计划，下一步在市场与需求风险、技术风险等可控的前提下，公司方会考虑相关计划， 如有相关计划，公司会按规定进行公开披露。 ...

Summary of Key Points Core Viewpoint - The controlling shareholder of Zhangyuan Tungsten Industry, Chongyi Zhangyuan Investment Holding Co., Ltd., plans to reduce its stake in the company by selling up to 24 million shares, representing 2% of the total shares, through block trading within a specified period from October 14, 2025, to January 13, 2026 [1] Company Information - Chongyi Zhangyuan Investment Holding Co., Ltd. currently holds 706 million shares of Zhangyuan Tungsten Industry, which accounts for 58.72% of the total shares [1]

Group 1 - Yunnan Ge Industry's stock rose by 5.02% to 29.50 CNY per share, with a trading volume of 1.147 billion CNY and a turnover rate of 6.11%, resulting in a total market capitalization of 19.267 billion CNY [1] - The company, established on August 19, 1998, and listed on June 8, 2010, specializes in germanium mining, smelting, purification, and deep processing, with main products including zone-refined germanium ingots and infrared-grade germanium single crystals [1] - The revenue composition of the company's main products includes material-grade germanium products (29.26%), photovoltaic-grade germanium products (23.34%), optical fiber-grade germanium products (21.98%), infrared-grade germanium products (12.45%), compound semiconductor materials (10.54%), and others (2.44%) [1] Group 2 - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Yunnan Ge Industry, having increased its holdings by 917,000 shares in the second quarter, totaling 4.8281 million shares, which is 0.74% of the circulating shares [2] - The Southern CSI 1000 ETF has a current scale of 64.953 billion CNY, with a year-to-date return of 25.52% and a one-year return of 66.59% [2] - The fund manager, Cui Lei, has been in position for 6 years and 311 days, with a total asset scale of 94.976 billion CNY and a best fund return of 137.65% during the tenure [3]

Core Viewpoint - Dongfang Zirconium Industry (002167) is currently not producing solid-state battery electrolyte products, but has received preliminary recognition for its zirconia samples from some solid-state battery material manufacturers [1] Group 1 - The company has stated that it does not manufacture solid-state battery electrolyte products at this time [1] - The zirconia samples developed by the company have gained initial acceptance for research and testing from certain solid-state battery material manufacturers [1] - The company will disclose information in a timely manner if it meets the disclosure standards [1]

Group 1 - The company, Dongfang Zirconium (002167.SZ), stated on the interactive platform that it does not directly supply the nuclear power industry [1] - The company's zirconium oxychloride products can be used to produce nuclear-grade zirconium sponge, which is applicable in the nuclear power sector [1]

Core Insights - The rare metals theme index (930632) has shown a strong increase of 1.92% as of September 12, 2025, with notable gains in constituent stocks such as Yunlu Co., Ltd. (688190) up 6.05% and Dongfang Tantalum Industry (000962) up 5.82% [1] - The rare metals ETF (561800) has seen a weekly increase of 6.45%, ranking first among comparable funds [1] - Over the past year, the rare metals ETF has achieved a net value increase of 85.48%, with a maximum single-month return of 24.02% since its inception [4] Industry Analysis - The supply increase of lithium spodumene is effectively compensating for the shortfall in lithium mica, leading to a marginal growth in domestic production and a return of lithium prices to fundamentals [4] - The cobalt sector is experiencing structural price increases, with a potential short-term benefit from improving demand as the peak demand season approaches [4] - The rare earth industry is undergoing significant supply-side reforms, with a notable increase in magnetic material exports, which rose by 75% month-on-month and 6% year-on-year [4] - The rare earth sector is expected to continue evolving with both valuation and performance improvements due to price increases, supply reforms, and strategic attributes of the sector [4] Key Stocks - As of August 29, 2025, the top ten weighted stocks in the rare metals theme index account for 57.58% of the index, including Northern Rare Earth (600111) and Luoyang Molybdenum (603993) [5] - The top stocks by weight include Salt Lake Co. (000792) at 8.52% and Northern Rare Earth (600111) at 8.49% [7] - The rare metals ETF (561800) serves as an effective investment tool for investors looking to gain exposure to the rare metals industry [7]

洛阳钼业（603993）(03993)涨超5%，截至发稿，涨5.12%，报13.34港元，成交额4.05亿港元。 据了解，钴材料在晶体管接触层中的应用显著提升了器件性能。在5nm等先进制程中，钴硅化合物可大 幅降低接触电阻，进而提高晶体管开关速度，为高端AI芯片的算力跃升提供支持。天风证券 （601162）指出，铜钴业务持续为公司贡献"量+价"。25H1产量超进度完成，未来计划促进TFM东区 17K工艺技改项目落地，继续提产降本，KFM加大勘探力度增储。此外，受刚果(金)暂停钴出口4个月 的临时性政策及市场库存水平下降影响，预计钴价高位支撑公司营收。 消息面上，近日，甲骨文(Oracle)一份高达3000亿美元(约合人民币2.14万亿元)的算力采购合同，引爆全 球投资者对算力、AI相关板块的热情，算力行业未来增长确定性及预期也进一步推高。中原证券 （601375）认为，北美云厂商从AI投资中获得了积极回报，并持续加大AI基础设施的投资力度，推动 AI算力硬件基础设施需求旺盛。 ...

Group 1 - The company currently does not produce solid-state battery electrolyte products [2] - The zirconia samples intended for solid-state battery electrolytes have received preliminary recognition from some solid-state battery material manufacturers for research and testing [2] - The company will disclose information in a timely manner if it meets the disclosure standards [2] Group 2 - The company is inquiring about its planning and layout in the solid-state battery field, including product research and mass production progress [2] - Competitors in the solid-state battery field and the company's advantages were also questioned by investors [2]