（来源：宝钛启明星） 2025年，质量部紧紧围绕企业发展大局，扎实推进质量体系稳定运行、认证审核拓展、无损检测技术升级及人才队伍培养等工作，顺利完成全年保障任 务，为集团高质量发展注入了坚实力量。 体系筑基 质量管控效能持续提升 质量部积极推进成品、铸锭、原材料及坯料检验任务，原材料一次受检合格率同比提升0.51%，产品质量证明书出具同比增长25.33%；坚持以客户为中 心，通过快速响应与现场支持消除潜在质量问题，客户质量反馈同比下降17.3%，满意度持续提升。发布《质量目标绩效考核及问责管理办法》等制度， 创新实施"清单式管理+闭环问责"机制深化考核改革，同步落实《质量预警管理制度》《质量放行工程师管理制度》，确保流程规范、责任到人。通过强 化生产过程监督与专项稽查，在关键客户审核中取得历史最高分，为重大项目推进夯实质量基础，同时依托《外委检测方评价制度》和《外委检测名录》 细化外委业务与换证管理，实现了全链条"细枝末节"的精准管控。 认证突破 高端市场开拓赋能增效 质量部全年完成国内外审核100项，累计投入835人*天，审核人天数同比增长30%，创近三年新高，且持续保持近百份有效资质证书，在多个关键领域取 ...

近半年该股累计上榜龙虎榜10次，上榜次日股价平均涨0.67%，上榜后5日平均涨1.40%。 资金流向方面，今日该股主力资金净流入1.22亿元，其中，特大单净流入2.53亿元，大单资金净流出 1.31亿元。近5日主力资金净流入2.70亿元。 融资融券数据显示，该股最新（1月21日）两融余额为6.29亿元，其中，融资余额为6.23亿元，融券余额 为555.94万元。近5日融资余额合计增加7954.89万元，增幅为14.64%。融券余额合计增加291.35万元， 增幅110.11%。 2025年10月29日公司发布的三季报数据显示，前三季度公司共实现营业收入726.43亿元，同比增长 5.21%，实现净利润-2.15亿元。（数据宝） 白银有色1月22日交易公开信息 白银有色(601212)今日涨停，全天换手率8.33%，成交额55.55亿元，振幅15.00%。龙虎榜数据显示，沪 股通净买入1.41亿元，营业部席位合计净买入1.16亿元。 | 买/ | 会员营业部名称 | 买入金额（万 | 卖出金额（万 | | --- | --- | --- | --- | | 卖 | | 元） | 元） | | 买一 | 沪股通专 ...

华锡有色公告称，公司与5家企业共同投资设立广西关键金属研究院有限责任公司，注册资本5亿元。公 司持有13%股权，以货币和股权相结合方式出资6500万元，不足部分以现金补足。此关联交易已获公司 董事会审议通过，无需提交股东会。2026年1月22日，关键金属研究院完成工商注册登记，取得营业执 照。 ...

一、研究观点 | 品 种 | 点评 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 隔夜内外铜价震荡偏弱，国内精炼铜现货进口持续亏损状态。宏观方面昨晚达沃斯会议 | | | | | | | | | | 上，欧美裂痕有所加大，但特朗普表示格陵兰岛是美国核心安全利益，但美不会武力夺 | | | | | | | | | | 取，寻求立即谈判。特朗普就格陵兰问题态度软化后，市场避险情绪有所下降。国内方 | | | | | | | | | | 面，1 月 20 日财政部在官网连续发布五项政策文件，涵盖四项贴息政策与一项专项担保 | | | | | | | | | 铜 | 计划，向市场传递稳增长信号。库存方面，LME 库存增加 3100 吨至 159400 | | | | | | | 吨；Comex | | | 库存增加 6599 吨至 503405 吨；SHFE 铜仓单下降 2612 吨至 145581 吨，BC 铜下降 | | | | | 501 | | | | | | 吨至 10760 吨。昨晚铜市场表现来看，虽 ...

蒙东1750MW绿电并网后，煤电成本优势转变为绿电成本优势，同时实现低碳和降本两个目标 公司1750MW风电光伏项目预计2026年全部并网，发电成本在0.10-0.18元/度，远低于燃煤自备电厂。全 部并网后，绿电年发电量超过55亿度，占公司电解铝用电量50%，公司用电结构将有一半来自低成本绿 电，一半来自低成本褐煤发电，电费降至0.25元/度含税价以下，公司电解铝成本将大幅下降，成本优 势更突出。 公司将在沙特建设50万吨电解铝 智通财经APP获悉，国信证券发布研报称，通过多角度估值，考虑到创新实业(02788)未来5年业绩高增 长，给予公司2026年12-15倍PE估值，得到公司的合理估值区间为32.5-40.7元人民币，对应675-844亿元 市值，相较当前市值有24%-55%溢价空间。首次覆盖给予"优于大市"评级。 国信证券主要观点如下： 背景 公司是一家氧化铝和电解铝生产企业，电解铝营收占比90%。公司成立于2012年，十几年间在蒙东霍林 河建成6330MW燃煤自备电机组和78.8万吨电解铝产能，在山东滨州建成300万吨氧化铝产能，于2025 年11月在港交所上市。 产能地理位置优越，盈利能力行业领 ...

格隆汇1月22日丨立中集团(300428.SZ)在投资者互动平台表示，目前公司研发和生产的铝硅、铝碳化硅 等硅铝弥散复合新材料已在航空航天飞领域电子系统、大功率集成电路和芯片封装，以及半导体设备零 部件制造等领域实现量产，但营收占比较低，请注意投资风险。 ...

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 铜： （展大鹏，从业资格号：F3013795；交易咨询资格号：Z0013582） 隔夜内外铜价震荡偏弱，国内精炼铜现货进口持续亏损状态。宏观方面昨晚达沃斯会议上，欧美裂痕有 所加大，但特朗普表示格陵兰岛是美国核心安全利益，但美不会武力夺取，寻求立即谈判。特朗普就格 陵兰问题态度软化后，市场避险情绪有所下降。国内方面，1月20日财政部在官网连续发布五项政策文 件，涵盖四项贴息政策与一项专项担保计划，向市场传递稳增长信号。库存方面，LME库存增加3100 吨至159400吨；Comex库存增加6599吨至503405吨；SHFE铜仓单下降2612吨至145581吨，BC铜下降 501吨至10760吨。昨晚铜市场表现来看，虽然海外金融市场情绪有所缓和，但未能进一步推动铜价，多 空分歧依然存在。此前提到，当前国内铜需求进入淡季，累库力度强于近两年，这加大了产业内的分 歧，单从产业现状和基本面来去看也存在调整的需求。整体来看，春节前宜谨慎看待，在此期间交易者 可多关注海外局势的变化。 21日工业硅震荡偏强，主力2605收于8780/吨，日内涨幅0.52% ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Views of the Report - The sentiment in the precious metals market has cooled down due to the easing of geopolitical tensions and tariff expectations. The copper market is expected to experience short - term shock adjustments due to tight copper ore supply, relatively strong LME spot, and relatively surplus refined copper supply. The aluminum market has support in the short - term due to high US aluminum spot premiums, low LME aluminum inventories, and expected improvement in demand. The casting aluminum alloy is expected to be in shock consolidation due to strong cost support and general demand. The lead and zinc markets will follow the ebb of the non - ferrous metal sector to give back some gains, but the non - ferrous metal sector is still considered bullish in the medium - term. The tin market may fluctuate due to marginal improvement in supply and demand and short - term inventory accumulation. The nickel market is expected to have a wide - range shock. The lithium carbonate market has a rebound, but there are risks of correction. The alumina market is recommended to wait and see due to over - capacity and cost support decline. The stainless steel market is expected to maintain a strong trend in the short - term [3][6][9][11][14][17][19][23][26][29]. 3. Summary by Related Catalogs Copper - **Market Information**: The price of copper followed the precious metals to rise and then fall. LME copper 3M closed down 0.27% to $12,761/ton, and the Shanghai copper main contract closed at 100,420 yuan/ton. LME copper inventories increased by 3,100 tons to 159,400 tons, and the domestic SHFE daily warehouse receipts decreased by 0.3 tons to 146,000 tons. The spot in Shanghai and Guangdong was at a discount to the futures, and the import of refined copper was at a loss. The spread between refined and scrap copper narrowed slightly [2]. - **Strategic View**: The short - term copper price is expected to be in shock adjustment. The reference range for the Shanghai copper main contract is 99,000 - 102,000 yuan/ton, and for LME copper 3M is $12,600 - 13,000/ton [3]. Aluminum - **Market Information**: The price of aluminum also followed the precious metals to rise and then fall. LME aluminum closed slightly down 0.03% to $3,117/ton, and the Shanghai aluminum main contract closed at 24,100 yuan/ton. The position of the Shanghai aluminum weighted contract increased by 15,000 hands to 714,000 hands, and the futures warehouse receipts decreased by 0.1 tons to 139,000 tons. Domestic aluminum ingot inventories decreased, and the LME aluminum ingot inventory increased by 24,000 tons to 508,000 tons [5]. - **Strategic View**: The short - term aluminum price still has support. The reference range for the Shanghai aluminum main contract is 23,900 - 24,300 yuan/ton, and for LME aluminum 3M is $3,080 - 3,150/ton [6]. Casting Aluminum Alloy - **Market Information**: The price of the casting aluminum alloy fluctuated. The main AD2603 contract closed up 0.57% to 22,895 yuan/ton. The weighted contract position decreased to 23,000 hands, and the trading volume was 12,100 hands. The warehouse receipts decreased by 0.02 tons to 68,900 tons. The spread between the AL2603 and AD2603 contracts widened. The domestic mainstream ADC12 average price was flat, and the inventory of aluminum alloy ingots in three places decreased by 0.03 tons to 42,800 tons [9]. - **Strategic View**: The short - term price is expected to be in shock consolidation [9]. Lead - **Market Information**: The Shanghai lead index closed down 0.63% to 17,121 yuan/ton, and LME lead 3S fell by $19 to $2,039/ton. The SMM1 lead ingot average price was 16,875 yuan/ton, and the refined - scrap spread was 100 yuan/ton. The SHFE lead ingot futures inventory was 27,600 tons, and the LME lead ingot inventory was 225,600 tons. The national main market lead ingot social inventory increased by 0.2 tons to 29,400 tons [10]. - **Strategic View**: The lead price gave back some gains with the ebb of the non - ferrous metal sector. The non - ferrous metal sector is still considered bullish in the medium - term, and the subsequent trends of leading varieties and the Shanghai - London ratio need to be observed [11][12]. Zinc - **Market Information**: The Shanghai zinc index closed down 0.25% to 24,355 yuan/ton, and LME zinc 3S fell by $33 to $3,194/ton. The SMM0 zinc ingot average price was 24,210 yuan/ton. The SHFE zinc ingot futures inventory was 31,000 tons, and the LME zinc ingot inventory was 112,300 tons. The national main market zinc ingot social inventory increased by 0.57 tons to 112,100 tons [13]. - **Strategic View**: The zinc price gave back some gains with the ebb of the non - ferrous metal sector. The non - ferrous metal sector is still considered bullish in the medium - term, and the zinc price has a large room for a supplementary rise compared with copper and aluminum. The subsequent trends of leading varieties and the Shanghai - London ratio need to be observed [14]. Tin - **Market Information**: On January 21, the tin price continued to rebound, and the Shanghai tin main contract closed at 418,420 yuan/ton, up 4.2%. The smelting start - up rates in Yunnan and Jiangxi were generally high and stable, but the supply was difficult to increase significantly in the short - term. The demand was suppressed by the sharp rise in prices, and the inventory increased [15][16]. - **Strategic View**: The tin price may fluctuate. It is recommended to wait and see. The reference range for the domestic main contract is 380,000 - 430,000 yuan/ton, and for overseas LME tin is $47,000 - 53,000/ton [17]. Nickel - **Market Information**: On January 21, the nickel price fluctuated narrowly, and the Shanghai nickel main contract closed at 143,060 yuan/ton, up 1.2%. The spot premiums of different brands varied. The nickel ore price was stable, and the nickel iron price rose significantly [18]. - **Strategic View**: The Shanghai nickel is expected to have a wide - range shock in the short - term. It is recommended to wait and see. The short - term reference range for the Shanghai nickel price is 130,000 - 160,000 yuan/ton, and for LME nickel 3M is $16,000 - 19,000/ton [19]. Lithium Carbonate - **Market Information**: The MMLC spot index of lithium carbonate rose 4.91%. The LC2605 contract closed at 166,740 yuan, up 3.89% [21]. - **Strategic View**: The rebound of lithium carbonate continues, but there are risks of correction. It is recommended to wait and see or try with a light position. The reference range for the Guangzhou Futures Exchange lithium carbonate 2605 contract is 158,000 - 174,000 yuan/ton [23]. Alumina - **Market Information**: On January 21, the alumina index rose 0.04% to 2,667 yuan/ton. The trading position decreased by 16,300 hands. The domestic spot was at a discount to the main contract, and the overseas FOB price decreased. The futures warehouse receipts increased by 0.3 tons to 119,100 tons [25]. - **Strategic View**: It is recommended to wait and see in the short - term. The reference range for the domestic main contract AO2605 is 2,600 - 2,750 yuan/ton. Attention should be paid to supply - side policies, Guinea's ore policies, and the Fed's monetary policy [26]. Stainless Steel - **Market Information**: On Wednesday, the stainless steel main contract closed at 14,720 yuan/ton, up 2.61%. The position increased by 27,595 hands. The spot prices in Foshan and Wuxi markets rose, and the raw material prices were stable or increased. The futures inventory decreased, and the social inventory decreased by 2.13% [28][29]. - **Strategic View**: The stainless steel market is expected to maintain a strong trend in the short - term, and the price may be in a high - level shock pattern. The reference range for the main contract is 14,200 - 15,230 yuan/ton [29].

（文章来源：证券日报） 证券日报网讯 1月21日，白银有色发布公告称，公司董事会于2026年1月21日收到董事长王普公先生递 交的书面辞职报告。因工作变动，王普公先生申请辞去公司董事长、董事及董事会下设专门委员会相关 委员职务，辞职后不再担任公司任何职务。 ...

格隆汇1月21日丨华锡有色(600301.SH)公布，为充分发挥公司在有色金属领域的资源、技术及产业优 势，系统性参与关键金属全产业链创新网络建设，推动前沿技术研发与成果转化，公司与广西财金创业 投资有限公司、广西关键金属产业发展集团有限公司、广西铝业集团有限公司、广西南丹南方金属有限 公司、中南大学科技园发展有限公司5家企业共同投资设立关键金属研究院，注册资本50,000万元，公 司持有13%股权。公司以货币和股权相结合方式出资，具体为以华锡有色研究院100%股权的评估值 （以核准备案的评估值为准）作价出资，不足6,500万元的金额以现金补足。 ...