每经头条（nbdtoutiao）——原指导价34.99万的宝马裸车价22.5万元，多家车企还补贴购置税！2026开 年车市火爆，销售从早到晚忙到没空吃饭 每经AI快讯，豫光金铅1月6日晚间发布公告称，公司于近日收到持股5%以上股东愚公集团通知，获悉 其将所持有的本公司部分股份办理了质押登记手续，本次质押2725.6万股。本次质押后，愚公集团累计 质押公司股份2725.6万股，占其直接持股总数的50%，占公司总股本的2.25%。 （记者 王晓波） ...

豫光金铅公告称，持股5%以上股东愚公集团直接持有公司4.51%股份，通过子公司投资集团间接控制 1.71%股份，合计控制6.21%股份。近日，愚公集团将2725.6万股股份质押给中原银行济源分行，占其直 接持股总数的50%，占公司总股本的2.25%，质押用途为自身生产经营。截至公告披露日，愚公集团及 其一致行动人累计质押3725.6万股，占合计持股数的49.57%，占公司总股本的3.08%。该股东资信良 好，质押无平仓风险，对公司无不利影响。 ...

明 证券简称:罗平锌申 公告编号:2025-076 证券代码:002114 云南罗平锌电股份有限公司 关于委托第三方机构公开招聘公司董事会秘书 的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整,没有虚假 记载、误导性陈述或者重大遗漏。 云南罗平锌电股份有限公司(以下简称"公司")于2025年12月24日召 开第九届董事会第四次(临时)会议,审议通过了关于《委托第三方机构公开招 聘公司董事会秘书》的议案,现将具体情况公告如下: 一、公开招聘董事会秘书基本情况 一家上市公司最近引发资本圈关注，居然是一则公开招聘信息。 聘猎头，挖董秘。。。 一份董事会决议公告，罕见地将公司核心职位的招聘标准、流程与"内部无合适人选"的困境，完整置于公众和投资者的审视之下。 云南罗平锌电股份有限公司近日接连发布两份公告，宣布将委托第三方机构公开招聘董事会秘书和生产副总经理。 董事会秘书作为上市公司的高级管理人员,是连接公司董事会、管理层与资 本市场、监管机构的核心枢纽,其专业要求极高,除应当具备履行职责所必需的 财务、金融、法律专业知识,还应具有良好的职业道德和个人品德,尤其应具备 丰富的履职经验。鉴于公司内部无合适 ...

豫光金铅公告，济源投资集团有限公司持有的公司5451.21万股股份无偿划转至河南愚公集团有限公 司，相关股份已完成过户登记手续。划转完成后，愚公集团直接持有公司5451.21万股（占总股本 4.51%），并通过控股子公司投资集团间接控制2064万股（占总股本1.71%），合计控制公司6.21%的股 份，成为第二大股东。投资集团持有公司股份2064万股，占总股本1.71%。此次划转不会导致公司控股 股东及实际控制人发生变化。 ...

Report Date - The report is dated December 22, 2025 [1] Industry Investment Rating - Not provided in the given content Core Viewpoints - Last week, the main contract price of Shanghai lead futures rebounded after hitting the bottom. The market slightly raised the expectation of interest rate cuts, and the Bank of Japan raised interest rates as expected. After the important macro - events were settled, the market's cautious sentiment improved [3][6][7] - The LME plans to implement new position limit rules in July 2026, which has accelerated the delivery of stocks by holders, leading to a significant increase in LME inventories and dragging down the prices of lead both at home and abroad [3][6][7] - The processing fee of lead concentrate remains at a low level, and the off - season of terminal battery consumption affects the battery scrap volume. The price of waste batteries remains firm, providing cost support [3][6] - Korea Zinc plans to set up a new lead smelter in the United States, which will increase overseas supply in the medium - to - long term. There is a strike risk at Australian smelters, and its impact needs continuous attention [3][6] - In China, there are both production cuts and restarts in primary lead production. Environmental inspections in Hunan have affected local smelter operations, while some smelters in East China will restart at the end of December. Smelters in Yunnan have restarted, and the first batch of lead - zinc from the Huoshaoyun project has arrived, which is expected to contribute to continuous growth [3][6] - Environmental controls in Anhui and North China have hindered the transportation of waste batteries, causing some local smelters to cut or stop production, dragging down the operation rate of secondary lead smelters [3][6] - The boost effect of the new national standard for electric bicycles is average. Poor vehicle demand has dragged down battery demand, and some enterprises plan to reduce production. However, the demand for automobile starting batteries is in the peak season, supporting the operation rate of lead - acid battery enterprises [3][6][7] - Overall, affected by the change in LME position - holding system, the accelerated delivery of stocks on the LME has dragged down the lead price. However, due to environmental impacts in many places, the production cuts of secondary lead smelters have increased, and the demand remains resilient. The social inventory is maintained at a low level for the year, providing support for the lead price. It is expected that the short - term futures price will fluctuate weakly and steadily, and continuous attention should be paid to the changes in LME inventories [3][7] Summary by Directory Trading Data | Contract | December 12 | December 19 | Change | Unit | | --- | --- | --- | --- | --- | | SHFE Lead | 17125 | 16880 | - 245 | Yuan/ton | | LME Lead | 1966 | 1984.5 | 18.5 | US dollars/ton | | Shanghai - London Ratio | 8.71 | 8.51 | - 0.20 | | | SHFE Inventory | 32227 | 27875 | - 4352 | Tons | | LME Inventory | 234750 | 258625 | 23875 | Tons | | Social Inventory | 2.05 | 2.05 | 0 | Ten thousand tons | | Spot Premium | - 75 | - 70 | 5 | Yuan/ton | [4] Market Review - Last week, the main contract of Shanghai lead futures changed to PB2602. The price hit the bottom and then rebounded. In the first half of the week, the increasing LME inventory dragged down the lead prices both at home and abroad. In the second half of the week, the inventory growth slowed down, and the futures price stabilized and weakly rebounded. It finally closed at 16880 yuan/ton, with a weekly decline of 1.55%. The LME lead price first declined and then rose, finally closing at 1984.5 US dollars/ton, with a weekly increase of 0.94% [5] - In the spot market, as of December 19, the price of Southern lead in Shanghai was reported at 16925 - 16950 yuan/ton, with a premium of 50 - 70 yuan/ton over the SHFE 2601 contract; the price of Jiangtong lead in Jiangsu and Zhejiang was reported at 16905 - 16925 yuan/ton, with a premium of 30 - 50 yuan/ton over the SHFE 2601 contract. After the Shanghai lead price hit the bottom and rebounded, holders sold their goods according to the market. Due to the end - of - year period, most holders actively cleared their inventories, resulting in less available spot goods. The inventory of refiner - delivered electrolytic lead also decreased significantly, and some quotes turned to discounts again. Downstream enterprises had mostly stocked up at low prices, and their inquiry enthusiasm weakened today, with only a few making purchases as needed [5] Industry News - As of the week ending December 19, the domestic lead concentrate processing fee was 300 yuan/metal ton, and the imported ore processing fee was - 135 US dollars/dry ton, with both averages remaining flat compared to the previous period [8] - Recently, the first batch of lead ingots from the 600,000 - ton/year lead - zinc smelting project of Xinjiang Huoshaoyun Lead - Zinc Mine, EPC - contracted by China ENFI Engineering Corporation, was officially launched. This project is the world's largest oxidized ore processing production line. After completion, it will have an annual production capacity of 560,000 tons of zinc ingots and 110,000 tons of lead ingots [8] - Morgan Stanley predicts that the average lead price in 2026 will be slightly higher than 2,000 US dollars per ton [8]

Core Viewpoint - The company announced the redemption of "Yuguang Convertible Bonds" totaling 18,160 bonds, with a total redemption amount of 1.8179 million yuan, including interest for the current period [1] Group 1 - The redemption payment date is set for December 19, 2025, on which date the "Yuguang Convertible Bonds" will be officially delisted [1] - As of the redemption registration date, a total of 708 million yuan of "Yuguang Convertible Bonds" have been converted into the company's A-share common stock, with a total conversion quantity of 119 million shares [1] - The total redemption amount is relatively small and will not have a significant impact on the company's cash flow [1]

Core Viewpoint - The company announces the redemption and delisting of its convertible bonds, "豫光转债," effective December 19, 2025, following the fulfillment of specific redemption conditions [4][16]. Group 1: Redemption Details - "豫光转债" will stop trading from December 16, 2025, with the last conversion date set for December 18, 2025 [2][15]. - The redemption price is set at 100.1060 CNY per bond, which includes accrued interest [9][10]. - The redemption will be executed for all bonds registered by the close of trading on December 18, 2025, with the redemption funds distributed on December 19, 2025 [6][14]. Group 2: Conversion and Trading Conditions - The company’s stock price has met the condition for early redemption, with at least 15 trading days out of 30 having a closing price above 7.74 CNY, which is 130% of the conversion price of 5.95 CNY [5][8]. - As of December 15, 2025, a total of 689,183,000 CNY of "豫光转债" has been converted into 115,826,744 shares, representing 10.62% of the total shares before conversion [20][22]. - The remaining unconverted bonds amount to 20,817,000 CNY, which is 2.93% of the total issuance [20][22]. Group 3: Tax Implications - Individual investors are subject to a 20% tax on interest income from the bonds, resulting in a net redemption amount of 100.0848 CNY per bond after tax [10][11]. - For qualified foreign institutional investors, the redemption amount will be distributed without tax deductions [11]. Group 4: Communication and Contact - The company will provide further announcements regarding the redemption process and its implications for investors [12][13]. - Investors can contact the board secretary's office for inquiries at the provided phone number [18].

Core Viewpoint - The company is currently in the pilot testing phase for its semiconductor-grade high-purity metal materials project, with products produced and undergoing quality stability testing [1] Group 1 - The company has confirmed that its semiconductor-grade high-purity metal materials project is in the pilot testing stage [1] - Products from the project have been generated and are now in the quality stability testing phase [1] - The company plans to continuously optimize process parameters and improve product quality based on testing results, aiming to steadily advance the project [1]

投资咨询业务资格： 证监许可【2011】 1448 号 研究员： 蔡 丽 从业资格证号： F0236769 投资咨询资格证号： Z00100716 铅锌年报 2025-12 锌：矿端增速放缓 锌震荡中枢有望上移 2026 年锌市或将呈现"紧平衡凸显、库存低位支撑、出口窗口助力"的核 心格局，上半年受宏观利好及库存支撑偏强，下半年需关注需求兑现情况及供 给增量。锌价全年大概率维持区间震荡偏强态势，震荡中枢或有所上移。需重 点跟踪海外矿山关停进度、国内出口数据及新兴领域需求落地情况。 铅：区间震荡 铅重心或有下移 2025 年铅供需缺口逐渐缩窄，全年供需预计紧平衡状态。2026 年供应边 际宽松，消费增速回落，铅供需将从紧平衡转向小幅过剩。上半年受原料端成 本和利润压制，铅或继续宽幅震荡走势；下半年矿端紧张缓解，原生铅供应释 放压力加大，铅震荡重心或有所下移。 摘要： | 第一部分 矿端增速放缓 | 锌震荡中枢有望上移 | 5 | | --- | --- | --- | | 一、锌市场行情回顾 | | 5 | | 二、锌影响因素分析 | | 6 | | 2.1.全球锌矿供应端增速或放缓 | | 6 | | 2.2 ...

Core Viewpoint - The company is currently in the pilot testing phase for its semiconductor-grade high-purity metal materials project, with products produced and undergoing quality stability testing [1] Group 1 - The company has produced relevant products that are now entering the quality stability testing phase [1] - The company plans to continuously optimize process parameters and improve product quality based on testing results [1] - The project is being advanced steadily following the pilot testing phase [1]