证券代码：600301 证券简称：华锡有色 编号：2025-057 注：本报告期内，受矿山原矿品位下降、矿山环保治理、子公司更换采矿权 证补计提前期采矿权出让收益等因素影响，叠加锡锭及深加工产品的外购原料占 比提升，成本有所提高，导致锡、锌、铅锑主要产品毛利率下降。 本公司董事会及全体董事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。 根据上海证券交易所关于行业经营性信息披露的相关要求，广西华锡有色金 属股份有限公司（以下简称"公司"）现就 2025 年第三季度主要经营数据披露如 下： 一、 主营业务分行业分产品情况 单位：元 | | | 主营业务分行业情况 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 分行业 | 2025 年 7-9 月 营业收入 | 2025 年 7-9 月 营业成本 | 毛利 率（%） | 营业收入 比上年同 | 营业成本 比上年同 | 毛利率比上 年同期增减 | | | | | | 期增减（%） | 期增减（%） | （%） | | 有色金属采 选业 | 1 ...

Core Insights - China Nonferrous Mining (01258) forecasts a profit attributable to shareholders of approximately $356 million for the nine months ending September 30, 2025, representing a year-on-year increase of about 13% driven by rising international copper prices and increased production and sales of cathode copper [1] Production and Sales Summary - The group produced approximately 107,700 tons of cathode copper (including copper product processing services) for the nine months ending September 30, 2025, marking a year-on-year increase of about 12% and achieving 77% of the annual production target [1] - The production of cathode copper from self-owned mines was approximately 63,900 tons, remaining stable compared to the same period last year [1] - The total production of crude copper and anode copper (including copper product processing services) reached approximately 307,600 tons, reflecting a year-on-year increase of about 7% and also achieving 77% of the annual production target [1] - The production of crude copper and anode copper from self-owned mines was approximately 54,200 tons, showing a year-on-year decrease of about 6% [1] - The group produced approximately 788,300 tons of sulfuric acid, which is a year-on-year increase of about 2%, achieving 79% of the annual production target [1] - The production of cobalt hydroxide (containing cobalt) was approximately 676 tons, representing a year-on-year decrease of about 12% and achieving 75% of the annual production target [1] - The production of liquid sulfur dioxide was approximately 1,442 tons, indicating a significant year-on-year decrease of about 90% and achieving only 14% of the annual production target [1]

Group 1 - The core point of the article is that Shengtun Mining announced it has not yet implemented its share repurchase plan as of August 31, 2025, and will consider executing the plan based on market conditions [2] Group 2 - The company will make decisions regarding the share repurchase plan in the future depending on market circumstances [2]

Group 1 - The company Huayu Mining (SH 601020) announced its fifth board meeting held on August 28, 2025, discussing the 2025 semi-annual report and its summary [1] - For the year 2024, the company's revenue composition includes: foreign non-ferrous metal mining accounting for 50.92%, mining enterprises for 48.54%, and other businesses for 0.54% [1]

Group 1 - The core viewpoint of the article is that Huaxi Nonferrous Metals (SH 600301) held its 20th meeting of the 9th board of directors on August 13, 2025, to review the semi-annual report for 2025 [1] - For the first half of 2025, the revenue composition of Huaxi Nonferrous Metals was as follows: 92.96% from nonferrous metal mining, 4.61% from nonferrous metal processing, and 2.43% from the service industry [1] - As of the report date, the market capitalization of Huaxi Nonferrous Metals was 16.3 billion yuan [1]

证券代码：600301 证券简称：华锡有色 编号：2025-049 | | | 主营业务分行业情况 | | | | | | --- | --- | --- | --- | --- | --- | --- | | | 2025 年 1-6 月 | 2025 年 1-6 月 毛利 | | 营业收入 | 营业成本 | 毛利率比上 | | 分行业 | | | | 比上年同 | 比上年同 | 年同期增减 | | | 营业收入 | 营业成本 | 率（%） | 期增减（%） | 期增减（%） | （%） | | 有色金属采 | 2,591,291,212.11 | 1,617,919,210.01 | 37.56 | 22.18 | 25.98 | 减少 1.89 个 | | 选业 | | | | | | 百分点 | | 有色金属深 | | | | | | 减少 16.97 | | 加工业 | 128,494,259.80 | 104,092,129.18 | 18.99 | 86.84 | 136.34 | 个百分点 | | 服务行业 | 67,598,955.18 | 51,830,801.58 | 23.33 | 5 ...

Core Points - The company has elected Liu Jianfeng as the chairman of the board and legal representative during the third temporary meeting of the seventh board of directors held on May 30, 2025 [1] - The company has completed the necessary business registration changes and obtained a new business license from the Luoyang Market Supervision Administration, with the legal representative now being Liu Jianfeng [1] - The registered capital of the company is 4.299848124 billion RMB, and it was established on December 22, 1999 [1] Company Information - The company is named Luoyang Luanchuan Molybdenum Industry Group Co., Ltd. and operates as a joint-stock company with investments from Hong Kong, Macau, and Taiwan [1] - The company's business scope includes the mining, selection, smelting, and deep processing of tungsten and molybdenum series products, as well as the import and export of necessary raw materials and machinery [1]

Market Overview - The A-share market showed significant recovery during the week of May 5 to May 9, with the Shanghai Composite Index rising by 1.92% to close at 3342 points, the Shenzhen Component Index increasing by 2.29%, and the ChiNext Index up by 3.27% [1] Institutional Research - A total of 452 listed companies disclosed investor research records during the week, indicating a decline in research concentration but sustained enthusiasm among institutions [1] - Over 90% of the companies that were researched reported positive returns, with notable performers including Runbei Aerospace (up 31.17%) and Jiuling Technology (over 20% increase) [1] Key Companies Under Research - **Xiangxin Technology**: Received 173 institutional research visits, focusing on its developments in humanoid robots and its strategic partnerships with clients for comprehensive technical solutions [1][2] - **Xingye Silver Tin**: Engaged 125 institutions, with inquiries about safety and project progress. The company is advancing its projects, including the Silver Mine Phase II and the Atlantic Tin project expected to commence production in Q4 2027 [3] - **Honghua Digital Technology**: Attracted 116 institutional visits, with a projected revenue growth of 42.30% in 2024, driven by market expansion and technological innovation [3] - **Rongbai Technology**: Received 106 institutional visits, with a focus on the impact of U.S. tariff policies on its products. The company has shifted its U.S. exports to its Korean factory due to tariff constraints [4][5] Strategic Developments - **Xiangxin Technology**: Plans to integrate its humanoid robot business into a wholly-owned subsidiary to meet diverse customer needs, collaborating with the Guangdong Academy of Sciences for innovation in intelligent solutions [2] - **Rongbai Technology**: Emphasizes a strategic focus on core material businesses and global supply chain development, enhancing competitiveness through partnerships in Indonesia and Europe [5]

Investment Rating - Industry Rating: Recommended [4] Core Insights - In Q1 2025, Hecla Mining's silver production increased by 6.14% quarter-on-quarter to 411.24 million ounces (127.91 tons), while silver sales rose by 1.04% to 351.80 million ounces (109.42 tons) [1][2] - The realized price for silver in Q1 2025 was $33.59 per ounce, reflecting an 11.26% increase quarter-on-quarter and a 35.61% increase year-on-year [2] - Gold production in Q1 2025 decreased by 4.18% quarter-on-quarter to 34,232 ounces (1.06 tons), with sales down 11.64% to 29,655 ounces (0.92 tons) [2] - The adjusted net income attributable to common shareholders for Q1 2025 was $23.22 million, a 0.68% increase quarter-on-quarter and a 165.94% increase year-on-year [5] Production and Sales Summary - Silver production in Q1 2025: 411.24 million ounces (127.91 tons), down 1.90% year-on-year [1] - Gold production in Q1 2025: 34,232 ounces (1.06 tons), down 6.45% year-on-year [2] - Q1 2025 sales revenue reached $261.34 million, a 4.4% increase quarter-on-quarter and a 38.1% increase year-on-year [3] Cost Analysis - Q1 2025 silver cash cost was $1.29 per ounce, a significant decrease of 73.01% year-on-year [1] - Q1 2025 gold cash cost was $2,195 per ounce, up 13.38% quarter-on-quarter and 31.52% year-on-year [2] - The all-in sustaining cost (AISC) for silver in Q1 2025 was $11.91 per ounce, a 3.48% increase quarter-on-quarter but a 9.08% decrease year-on-year [1] 2025 Guidance - Silver production guidance for 2025 is set at 15.5 to 17 million ounces, while gold production is expected to be between 120,000 to 130,000 ounces [6][10] - Cash cost guidance for silver remains at $3.00 to $3.25 per ounce, and AISC is projected at $15.75 to $17.00 per ounce [7][11]

证券代码：600301 证券简称：华锡有色 编号：2025-022 本公司董事会及全体董事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。 根据上海证券交易所关于行业经营性信息披露的相关要求，广西华锡有色金 属股份有限公司（以下简称"公司"）现就 2024 年度主要经营数据披露如下： | | | 主营业务分行业情况 | | | | | | --- | --- | --- | --- | --- | --- | --- | | 分行业 | 2024 年 1-12 月 2024 年 营业收入（元） | 1-12 月 营业成本（元） | 毛利 率（%） | 营业收入 比上年同 | 营业成本 比上年同 | 毛利率比上 年同期增减 | | | | | | 期增减（%） | 期增减（%） | （%） | | 有色金属采 选业 | 4,374,892,456.20 | 2,573,397,748.68 | 41.18 | 46.60 | 41.46 | 增加 2.14 个 百分点 | | 有色金属深 加工业 | 114,191,782.74 | 80,422,68 ...