（编辑 楚丽君） 证券日报网讯 12月10日晚间，豫光金铅发布第二次提示性公告称，投资者所持可转债除在规定时限内 通过二级市场继续交易或按照 5.95元的转股价格进行转股外，仅能选择以 100 元/张的票面价格加当期 应计利息（即100.1060 元）被强制赎回。若被强制赎回，可能面临较大投资损失。 ...

| 铅锌日评20251209：沪铅震荡偏强；沪锌震荡整理 | 2025/12/9 | 指标 | 近期趋势 | 单位 | 今值 | 变动 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 17,200.00 | 0.15% | SMM1#铅锭平均价格 | 元/吨 | 沪铅期现价格 | 期货主力合约收盘价 | 17,340.00 | 0.29% | 元/吨 | | 元/吨 | -140.00 | -25.00 | 沪铅基差 | 20.00 | -5.00 | 升贴水-上海 | 元/吨 | | | 美元/吨 | -49.15 | -9.79 | 升贴水-LME 0-3 | 美元/吨 | -94.60 | -3.10 | 升贴水-LME 3-15 | 价差 | | 元/吨 | -55.00 | -45.00 | 沪铅近月-沪铅连一 | 5.00 | 20.00 | 沪铅连一-沪铅连二 | 元/吨 | 铅 | | 元/吨 | -15.00 | 10.00 | 沪铅连二-沪铅连三 | 38,061.00 | -14.49% | 期货活跃合约成交 ...

河南豫光金铅股份有限公司关于实施"豫光转债"赎回暨摘牌的公告 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。 重要内容提示： ● 证券停复牌情况：适用 证券代码：600531 证券简称：豫光金铅 公告编号：2025-107 债券代码：110096 债券简称：豫光转债 ● 本次提前赎回完成后，豫光转债将自2025年12月19日起在上海证券交易所摘牌。 ● 投资者所持可转债除在规定时限内通过二级市场继续交易或按照5.95元的转股价格进行转股外，仅能 选择以100元/张的票面价格加当期应计利息（即100.1060元）被强制赎回。若被强制赎回，可能面临较 大投资损失。 ● 公司提醒"豫光转债"持有人注意在限期内转股或卖出。 河南豫光金铅股份有限公司（以下简称"公司"）的股票自2025年10月27日至2025年11月14日，已在连续 三十个交易日内有十五个交易日的收盘价不低于"豫光转债"当期转股价格5.95元/股的130%，即不低于 7.74元/股。根据《河南豫光金铅股份有限公司向不特定对象发行可转换公司债券募集说明书》（以下 简称"《 ...

（文章来源：证券日报） 证券日报网讯 12月8日晚间，豫光金铅发布公告称，截至2025年12月8日收市后，距离2025年12月15日 （"豫光转债"最后交易日）仅剩5个交易日，2025年12月15日为"豫光转债"最后一个交易日。最后转股 日：2025年12月18日截至2025年12月8日收市后，距离2025年12月18日（"豫光转债"最后转股日）仅剩8 个交易日，2025年12月18日为"豫光转债"最后一个转股日。本次提前赎回完成后，豫光转债将自2025年 12月19日起在上海证券交易所摘牌。投资者所持可转债除在规定时限内通过二级市场继续交易或按照 5.95元的转股价格进行转股外，仅能选择以100元/张的票面价格加当期应计利息（即100.1060元）被强 制赎回。若被强制赎回，可能面临较大投资损失。公司提醒"豫光转债"持有人注意在限期内转股或卖 出。 ...

祁玉蓉（F03100031, Z0021060），联系电话：010-8229 5006 2025/12/8 单位 今值 变动 近期趋势 SMM1#铅锭平均价格 元/吨 17,175.00 0.44% 期货主力合约收盘价 元/吨 17,290.00 0.26% 沪铅基差 元/吨 -115.00 30.00 升贴水-上海 元/吨 - 25.00 升贴水-LME 0-3 美元/吨 -49.15 -9.79 升贴水-LME 3-15 美元/吨 -94.60 -3.10 沪铅近月-沪铅连一 元/吨 -10.00 15.00 沪铅连一-沪铅连二 元/吨 -15.00 -25.00 沪铅连二-沪铅连三 元/吨 -25.00 -20.00 期货活跃合约成交量 手 44,508.00 19.36% 期货活跃合约持仓量 手 44,944.00 -3.52% 成交持仓比 / 0.99 23.71% LME库存 吨 0.00% 243,550.00 沪铅仓单库存 吨 16,078.00 -2.87% LME3个月铅期货收盘价（电子盘） 美元/吨 2,009.00 -0.35% 沪伦铅价比值 / 8.61 0.61% SMM1#锌锭平 ...

Group 1 - The second largest shareholder, Jiyuan Investment Group Co., Ltd., holds 75,152,132 shares, accounting for 6.63% of the total share capital of the company [2] - Jiyuan Investment Group has released the pledge on 27,256,000 shares that were previously pledged to Zhongyuan Bank Co., Ltd. Jiyuan Branch [2] - As of December 3, 2025, the total number of shares of Henan Yuguang Gold Lead Co., Ltd. is 1,133,623,001 [2] Group 2 - The cumulative pledged shares of the shareholder amount to 10,000,000 shares, which is 13.31% of their total holdings and 0.88% of the company's total share capital [2] - The release of the pledge is related to the shareholder's own financial arrangements and does not involve any significant changes in company control or main business adjustments [3] - The company will continue to monitor the changes in the pledged shares held by shareholders and will comply with relevant regulations for timely information disclosure [3]

Core Points - The second largest shareholder of the company, Jiyuan Investment Group Co., Ltd., will release 27,256,000 shares from pledge on December 3, 2025, which accounts for 36.27% of its held shares and 2.40% of the company's total share capital [1] - Jiyuan Investment Group holds a total of 75,152,132 shares in the company, representing 6.63% of the total share capital [1] - After the release of the pledge, the group will have a total of 10,000,000 shares pledged, which is 13.31% of its total holdings and 0.88% of the company's total share capital [1] - The release of the pledge is due to the shareholder's own financial arrangements and does not involve any significant matters [1]

Report Summary 1. Industry Investment Rating No industry investment rating is provided in the report. 2. Core Viewpoints - For lead, the price oscillated and declined. Considering the tight raw material supply and reduced supply, the downside space for lead prices is limited. It is recommended to wait and see for now [1]. - For zinc, the mine supply is continuously tightening, and the TC is likely to fall. It may have an impact on the supply side, providing some support for zinc prices. It is advisable to conduct range - bound operations, and also wait and see for now [1]. 3. Summary by Related Content Lead - **Price and Market Data**: On December 3, 2025, the average price of SMM1 lead ingots was 17,050 yuan/ton, up 0.44%; the closing price of the main futures contract of Shanghai lead was 17,210 yuan/ton, up 0.79%. The trading volume of the active futures contract was 52,077 lots, up 34.28%; the open interest was 47,601 lots, up 0.88%. The LME inventory remained unchanged at 256,950 tons, and the Shanghai lead warehouse receipt inventory decreased by 9.43% to 18,131 tons [1]. - **Fundamentals**: There is no expected increase in lead concentrate imports, and the processing fee is likely to rise. However, it has not yet had a substantial impact on smelter operations. Last week, more smelters were under maintenance, and the production of primary lead decreased. In the secondary lead sector, a smelter in Yunnan reduced production due to maintenance. The lead price fell below 17,000 yuan, and smelters were reluctant to sell at low prices. The inventory of primary lead increased, while that of secondary lead decreased. The consumption of electric bicycle batteries is gradually weakening, while the automotive battery market is approaching the traditional replacement peak season [1]. Zinc - **Price and Market Data**: On December 3, 2025, the average price of SMM1 zinc ingots was 22,670 yuan/ton, up 0.80%; the closing price of the main futures contract of Shanghai zinc was 22,745 yuan/ton, up 0.69%. The trading volume of the active futures contract was 122,766 lots, down 4.31%; the open interest was 106,325 lots, up 0.54%. The LME inventory remained unchanged at 52,375 tons, and the Shanghai zinc warehouse receipt inventory decreased by 3.00% to 63,804 tons [1]. - **Fundamentals**: Economically, smelters are actively purchasing domestic zinc ores, and the domestic ore supply is tight. The processing fees in many regions have been continuously reduced. The supply of zinc ingots is expected to remain at around 600,000 tons per month, and the production has not been affected. The demand is still weak, and the construction in the north has stopped due to cold weather, and some downstream operations have been affected by environmental protection [1]. Industry News - Saudi Arabia has launched a tender for three mineral exploration licenses, covering an area of 13,000 square kilometers. The country is accelerating the exploitation of deposits estimated at 9.4 trillion riyals (2.50 trillion US dollars), including areas with potential for gold, silver, copper, zinc, and lead mining [1]. - A zinc mine in South China resumed production after maintenance in November, with an expected increase of about 2,000 metal tons of zinc concentrate. A zinc mine in North China will undergo a 10 - day maintenance in December, with an expected reduction of about 500 metal tons of zinc concentrate. A zinc mine in Central China has gradually resumed production after maintenance, with an expected increase of about 1,000 metal tons of zinc concentrate [1].

Core Viewpoint - As of November 28, 2025, the total number of shareholders for Zhuhai Group (600961) is approximately 39,200 [1] Company Summary - Zhuhai Group has responded to investor inquiries on an interactive platform regarding its shareholder count [1] - The company is actively engaging with its investors, indicating a focus on transparency and communication [1]

Group 1 - Zinc Industry Co., Ltd. experienced a stock price increase of 5.61% on December 1, reaching 4.14 CNY per share, with a trading volume of 1.22 billion CNY and a turnover rate of 2.12%, resulting in a total market capitalization of 6.689 billion CNY [1] - The company, established on September 11, 1992, and listed on June 26, 1997, is primarily engaged in the smelting and sales of zinc and lead, with its main revenue sources being cathode copper (46.36%), zinc products (32.53%), other products (16.32%), non-ferrous metal trading (3.03%), and lead (1.76%) [1] Group 2 - According to data from the top ten holdings of funds, Everbright Pramerica Fund has a significant position in Zinc Industry Co., holding 9,000 shares of the stock, which accounts for 0.21% of the fund's net value, ranking it as the sixth largest holding [2] - The Everbright Pramerica Multi-Strategy Select 18-Month Mixed Fund (004457) has a total scale of 16.5897 million CNY and has achieved a year-to-date return of 5.71%, ranking 6490 out of 8199 in its category, with a one-year return of 6.5%, ranking 6515 out of 8131, and a cumulative return since inception of 41.54% [2]