证券代码：601020 证券简称：华钰矿业 公告编号：临 2025-031 号 西藏华钰矿业股份有限公司 部分董监高提前终止减持计划暨减持股份结果公告 本公司董事会、全体董事及相关股东保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： （公告 编号：2025-006 号）。 股东名称 邢建军 控股股东、实控人及一致行动人 □是 √否 直接持股 5%以上股东 □是 √否 股东身份 董事、监事和高级管理人员 √是 □否 其他：不适用 其他方式取得：142,880股 上述减持主体无一致行动人。 其他情形：提前终止本次减持计划 股东名称 邢建军 减持方式及对应减持数 集中竞价减持，41,700 股 量 减持价格区间 17.71～18.86元/股 ? 董监高持股的基本情况：截至减持计划披露日，西藏华钰矿业股份有 限公司（以下简称"公司"）财务总监邢建军先生持有公司股票共计 来源于公司限制性股票激励计划、二级市场增持及公司资本公积转增 股本。 ? 减持计划的主要内容：财务总监邢建军先生拟减持不超过 41,720 股， 占总股本的 0.0051%。通 ...

| 沪锡日评20250516：国内精炼锡产能开工率环比下降，国内外精炼锡库存量较上周增加 | | | | | --- | --- | --- | --- | | 变量名称 2025-05-15 2025-05-14 2025-05-09 较昨日变动 | | | 近期走势 | | 收盘价 265210 265770 | 259540 | -560.00 | | | 成交量(手) 72966 86160 沪锡期货活跃合约 | 71445 | -13.194.00 | | | 持仓量(手) 30513 31510 | 30130 | -997.00 | | | 库存(吨) 8163 67 18 | 8402 | -16.00 | | | 沪锡县差 SMM 1#锡半均价 266100 265000 | 259600 | 1,100.00 | | | (现货与期货) 沪锡基差 890 -770 | 60 | 1, 660. 00 | | | 沪锡近月-沪锡连一 -1110 -870 | -240 | -240.00 | | | 价差(近月与远月) 沪锡连 -- 沪锡连二 10 160 | 30 | -150.00 | ...

答：尊敬的投资者您好，感谢您对公司的关注。二级市场 股价受诸多综合因素影响，公司坚持以稳健前行为核心，扎实 做好经营，推动实现高质量发展，努力为股东创造更大价值。 证券代码：002378 证券简称：章源钨业 崇义章源钨业股份有限公司投资者关系活动记录表 编号：20250515 | | □特定对象调研 □分析师会议 □媒体采访 业绩说明会 | | --- | --- | | 投资者关系活 动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称 | 线上参与章源钨业（002378）2024 年度暨 2025 年第一季度业 | | 及人员姓名 | 绩说明会的全体投资者 | | 时间 | 2025 年 5 月 15 日 15:00-16:00 | | 地点 | 价值在线（https://www.ir-online.cn/）网络互动 | | | 董事、总经理：黄世春 | | 上市公司接待 人员姓名 | 董事、常务副总经理、财务总监：范迪曜 | | | 董事、副总经理、董事会秘书：刘佶 | | | 独立董事：王平 交流内容： | | | 1. 请问公司未来是否有明确的产能 ...

[日期Table_Industry] : shzqdatemark [Table_Summary] 主要观点 2025年05月14日 | [Table_Author] 分析师: | 陈彦利 | | --- | --- | | Tel: | 021-53686170 | | E-mail: | chenyanli@shzq.com | | SAC 编号: | S0870517070002 | [Table_ReportInfo] 相关报告： 《开局良好，内需发力》 ——2025 年 04 月 18 日 《3 月出口仍获支撑，顺差维持千亿》 ——2025 年 04 月 16 日 《价格双负局面延续》 ——2025 年 04 月 11 日 油价拖累，通胀低位运行 ——2025 年 4 月物价数据点评 油价拖累，通胀低位运行 4 月价格双负局面延续。CPI 环比超季节性回正，主要是由于食品、出 行服务回升的带动。CPI 同比下降 0.1%，与上月保持不变。具体来 看，能源价格同比下降 4.8%，降幅比上月扩大 2.2 个百分点。其中汽 油价格下降 10.4%，影响 CPI 同比下降约 0.38 个百分点，是带动 CP ...

每经记者｜杨欢 每经编辑｜刘艳美 近日，中共河南省委办公厅、河南省人民政府办公厅印发《河南省促进民营经济高质量发展行动计划》。当中提出，实施经营主体培育、骨干企业培育、市 场平等准入、维护公平竞争、科技创新赋能、合法权益保护等6个专项行动、21项重点任务。同时，开展解决拖欠账款、整治涉企四乱、强化法治保障、招 投标专项整治和强化要素保障、信用诚信建设、民营企业培训等6个专项攻坚、24项重点任务。 主要目标是经过3年左右的努力，全省民营经济实现质的有效提升和量的合理增长，对全省经济社会贡献度显著提高，经营主体数量保持稳定增长、增速高 于全国平均水平，中国民营企业500强入榜企业数量与全省经济规模更加匹配，民间投资活力持续增强，骨干民营企业核心竞争力显著增强、在国家和省级 制造业单项冠军企业中占比超过80%。 解读：民营企业对经济的贡献，可以用"56789"来概括。比如在河南，民营经济就贡献了全省55%以上的GDP、65%左右的税收、70%左右的进出口总值、 85%以上的高新技术企业、90%以上的城镇新增就业。 眼下，河南正在进行"一场自上而下的民营经济'突围战'"——据当地媒体梳理，从2025年1月1日调研开封 ...

Core Insights - The Chinese non-ferrous metals industry showed stable growth in production during the first quarter of 2025, with refined copper output at 3.536 million tons, a year-on-year increase of 5.0%, and electrolytic aluminum output at 11.066 million tons, a year-on-year increase of 3.2% [1] - Fixed asset investment in the non-ferrous metals industry increased by 21.6% year-on-year, surpassing the national industrial investment growth by 9.6 percentage points, with mining investment up by 38.6% and smelting and processing investment up by 17.9% [1] - Revenue for large-scale non-ferrous metal enterprises reached 2.2293 trillion yuan, a year-on-year increase of 19.6%, while total profit was 91.77 billion yuan, a year-on-year increase of 40.7% [1] Production and Investment - The production of ten types of non-ferrous metals is expected to continue growing, with an estimated increase of around 3% in the first half of the year [2] - The mining sector saw a significant increase in private investment, with a year-on-year growth of 52.2%, while smelting and processing industries experienced a 14.1% increase in private investment [1] Profitability and Economic Outlook - The profit margin for large-scale non-ferrous metal enterprises was 4.1%, an increase of 0.6 percentage points year-on-year, with the mining sector's profit up by 62.3% and smelting and processing profit up by 33.6% [1] - The industry is expected to see a growth in added value of around 6% in the first half of the year, although there may be increasing disparities in profitability across different sectors [2]

Core Viewpoint - The company is facing challenges in its smelting operations, with significant losses reported, and is under pressure to improve its market performance and investor confidence [16][19][22]. Group 1: Stock Performance and Market Sentiment - As of May 13, 2025, the company's stock closed at 15.98 yuan, up 0.38%, with a turnover rate of 1.02% and a trading volume of 243,700 hands, amounting to a transaction value of 389 million yuan [1]. - The company has seen a decline in institutional holdings, which may be influenced by market conditions and investment strategies [3]. - The company’s stock has underperformed compared to its peers, with a significant drop in value attributed to poor earnings performance and market sentiment [12][19]. Group 2: Financial Performance and Management - The company reported a net profit increase of only 9% in the first quarter, significantly lower than competitors like Zijin Mining and Luoyang Molybdenum, which saw net profit increases of 62% and 90%, respectively [7][12]. - The smelting segment has been a major source of losses, with the company’s smelting capacity at only 750,000 tons per year, which is lower than industry peers [16][19]. - The company plans to increase its copper smelting capacity by 33% in 2025, despite previous losses, indicating a strategy to enhance production [18]. Group 3: Strategic Decisions and Future Outlook - The company is considering strategic partnerships to improve management and operational efficiency, particularly in light of its challenges in the smelting sector [20]. - The management has emphasized the importance of risk management in its hedging strategies, despite facing losses in its futures trading [5][21]. - The company is committed to optimizing its resource allocation and enhancing operational efficiency to improve its financial performance [19].

证券代码：002378 证券简称：章源钨业 崇义章源钨业股份有限公司投资者关系活动记录表 编号：20250513 | | □特定对象调研 □分析师会议 | | | | --- | --- | --- | --- | | 投资者关系活 | □媒体采访 □业绩说明会 | | | | 动类别 | □新闻发布会 □路演活动 | | | | | □现场参观 | | | | | 其他（2024 年年度报告及 2025 年第一季度报告解读） | | | | | 2025 年 5 月 7 日参与名单： 招商证券：贾宏坤；北京风炎私募基金管理有限公司：王鹏； | | | | | 见日资本：李星 | | | | | 2025 年 5 月 日参与名单： | | 12 | | | 国投证券股份有限公司：周古玥；同泰基金管理有限公司：唐 | | | | 参与单位名称 及人员姓名 | 之超；深圳市思加私募证券基金管理有限公司：谭子键；天弘 | | | | | 亓辰；工银理财有限责任公司：刘萌涛；国信证券股份有限公 | | | | | 司自营：闵晓平；兴证全球基金管理有限公司：刘平；中国人 | | | | | 寿资产管理有限公司：杨琳； ...

Group 1 - The company provided guarantees for its subsidiaries, including a maximum guarantee of USD 60 million for Shengtun Metal International and USD 800,000 for Brother Mining SASU [2][4] - The total amount of external guarantees provided by the company and its subsidiaries is CNY 664,977.12 million, accounting for 42.97% of the company's latest audited net assets [10] - The company has no overdue external guarantees [3][5] Group 2 - The company reported a revenue of CNY 25.73 billion in 2024, a year-on-year increase of 5.21%, and a net profit attributable to shareholders of CNY 2.005 billion, an increase of 657.63% [11][12] - The main business gross profit margin reached 19.15%, an increase of 8.21 percentage points compared to the previous year, driven by significant revenue growth in cobalt and copper products [11][13] - The company’s copper product gross margin was 35.23%, while cobalt product gross margin was 43.55%, reflecting strong profitability in these segments [16][17] Group 3 - The company’s overseas assets amounted to CNY 14.392 billion, accounting for 38.35% of total assets, with overseas revenue of CNY 14.466 billion, representing 57.71% of total revenue [35][36] - The overseas business gross margin has consistently exceeded that of domestic operations by more than 24 percentage points over the past three years [35][36] - The company’s overseas projects in the Democratic Republic of Congo and Indonesia have significantly contributed to its revenue growth, with the Congo project showing a revenue increase of 79.09% [38][39]

投资咨询证号：Z0019840 电话：0571-87006873 有色金属 姓名：何彬 宝城期货投资咨询部 从业资格证号：F03090813 邮箱：hebin@bcqhgs.com 作者声明 本人具有中国期货业协会授 予的期货从业资格证书，期货投 资咨询资格证书，本人承诺以勤 勉的职业态度，独立、客观地出 具本报告。本报告清晰准确地反 映了本人的研究观点。本人不会 因本报告中的具体推荐意见或观 点而直接或间接接收到任何形式 的报酬。 投资咨询业务资格：证监许可【2011】1778 号 有色金属 | 日报 2025 年 5 月 12 日 有色日报 专业研究·创造价值 宏观氛围回暖，有色上行 核心观点 沪铜 今日铜价震荡上行，主力期价站上 7.8 万关口，持仓量随之上 升。铜价上行很大程度上受益于中美关系缓和。5 月 12 日凌晨人民 日报报道，中美经贸中方牵头人、国务院副总理何立峰出席新闻发 布会表示，中美达成重要共识，会谈取得实质性进展。产业低库存 格局下，宏观回暖，短期期价增仓上行，突破 7.8 万关口，预期维持 强势运行。 沪铝 今日沪铝主力期价减仓上行，铝价收复上周大部分跌幅，逼近 2 万关口。铝价上行 ...