河南豫光金铅股份有限公司 股东会议事规则 （2025 年 7 月修订） 第一章 总则 第一条 为规范河南豫光金铅股份有限公司（以下简称"公司"）行为，保证 股东会依法行使职权，根据《中华人民共和国公司法》（以下称"《公司法》"）、 《中华人民共和国证券法》 （以下称"《证券法》"）、 《上市公司股东会规则》及《河 南豫光金铅股份有限公司章程》（以下称"《公司章程》"）的规定，制定本规则。 第二条 公司股东会的召集、提案、通知、召开等事项适用本规则。 第三条 公司应当严格按照法律、行政法规、本规则及《公司章程》的相关 规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当 勤勉尽责，确保股东会正常召开和依法行使职权。 第四条 股东会应当在《公司法》和《公司章程》规定的范围内行使职权。 第五条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次， 应当于上一会计年度结束后的 6 个月内举行。临时股东会不定期召开，出现《公 司法》或《公司章程》规定的应当召开临时股东会的情形时，临时股东会应当在 公司在上述期限内不能召开股东会的，应当报告公司所在地中国证券 ...

Group 1 - The acquisition is led by Shudao Group, which aims to optimize the capital structure of Hongda Co., improve liquidity, and enhance control over the company [13][14] - Shudao Group will acquire 609,600,000 shares of Hongda Co. at a price of 4.68 yuan per share, totaling approximately 2.85 billion yuan [16][17] - After the acquisition, Shudao Group will hold 1,245,914,805 shares, representing 47.17% of Hongda Co.'s total share capital [14][15] Group 2 - Shudao Group is a state-owned enterprise controlled by the Sichuan Provincial State-owned Assets Supervision and Administration Commission, with a registered capital of 54.226 billion yuan [6][7] - Hongda Co. has faced financial difficulties, including bankruptcy restructuring, but the restructuring plan has been approved and completed [9][13] - The financial data of Shudao Group shows total assets of approximately 150 billion yuan and net profit of about 590 million yuan for the latest fiscal year [8][9] Group 3 - The acquisition has been approved by the necessary corporate governance bodies, including the board of directors and the shareholders' meeting of Hongda Co. [14][15] - The acquisition is structured to ensure that the controlling shareholder and actual controller of Hongda Co. remain unchanged post-acquisition [14][15] - Shudao Group and its concerted actors have not faced any significant legal or administrative penalties in the last five years [9][11]

Core Viewpoint - The performance forecast for the first half of 2025 by Zhuhai Group indicates a significant increase in net profit, driven by rising precious metal prices and improved operational efficiency [1][2]. Group 1: Company Performance - Zhuhai Group expects a net profit of 560 million to 650 million yuan for the first half of 2025, representing a year-on-year increase of 50.97% to 75.23% [1]. - The net profit excluding non-recurring gains and losses is projected to grow by 80.97% to 109.55% year-on-year [1]. - The company attributes its performance growth to the increase in precious metal prices and a recovery in zinc smelting processing fees, alongside enhanced operational efficiency through refined management practices [1]. Group 2: Industry Trends - The lead and zinc business of Zhuhai Group is currently in a recovery phase, with an expected increase in processing fees and improved supply-demand dynamics for zinc concentrate [2]. - The average processing fee for domestic zinc concentrate in the first quarter of 2025 was 4,463 yuan per ton, reflecting a month-on-month increase of 937 yuan per ton [2]. - The prices of gold and silver are expected to continue rising, supported by global geopolitical tensions and central bank purchasing trends, with gold prices increasing nearly 30% this year following a 27% rise last year [2][3]. Group 3: Future Outlook - Institutions remain optimistic about the upward trend in precious metal prices, which is expected to support the performance of related companies [3]. - Recent dovish comments from Federal Reserve officials regarding potential interest rate cuts are anticipated to bolster gold prices [3]. - Silver, with its dual industrial and financial attributes, is expected to see increased demand, particularly from the photovoltaic sector, leading to a favorable supply-demand balance [3].

Core Viewpoint - The company, Zhuyou Group, anticipates a significant increase in net profit for the first half of 2025, projecting a net profit attributable to shareholders of 560 million to 650 million yuan, representing a year-on-year increase of 189 million to 279 million yuan, or 50.97% to 75.23% [1] Financial Projections - The expected net profit attributable to shareholders, excluding non-recurring gains and losses, is projected to be between 570 million and 660 million yuan, which indicates an increase of 255 million to 345 million yuan compared to the same period last year, translating to a year-on-year growth of 80.97% to 109.55% [1]

报告日期：2025 年 7 月 4 日 申银万国期货研究所 首席点评：美国国会众议院通过"大而美"法案 黄金：金银价格反弹。美国 6 月 ADP 就业人数减少 3.3 万人，大幅不及预期， 加剧市场对美联储年内提前降息预期。临近对等关税暂缓截止日令市场有所不安， 大而美法案推升财政赤字预期，美元表现疲软。近期美联储官员们表态继续维持 观望，尽管官员表示最快 7 月降息，但有通胀降低、贸易政策明朗等前提条件。 近期美国方面数据所显示关税政策的冲击比担忧中的要小，不过目前看贸易谈判 进展有限，财政部长暗示协议或要到 9 月达成。随着政策框架的修改，市场或为 未来宽松进行铺垫，如关税政策明朗，降息预期将进一步明确。黄金方面尽管长 期驱动仍然提供支撑，但价位较高上行迟疑。考虑 7 月关税暂缓截止期临近，警 惕特朗普相关政策的不确定性和关税再度升温的相关炒作。 一、当日主要新闻关注 1）国际新闻 美国商务部已通知全球三大芯片设计软件供应商——新思科技、楷登电子和西 门子，此前要求其在华业务必须申请政府许可的规定现已撤销。西门子称已全 面恢复中国客户对其软件和技术的访问权限，新思科技与楷登电子称正在逐步 重启相关服务。美 ...

新能源及有色金属日报 | 2025-07-04 社会库存持续小幅累库 重要数据 现货方面：LME锌现货升水为-21.99 美元/吨。SMM上海锌现货价较前一交易日上涨140元/吨至22430元/吨，SMM 上海锌现货升贴水较前一交易日上涨5元/吨至110元/吨，SMM广东锌现货价较前一交易日上涨120元/吨至22370元/ 吨。SMM广东锌现货升贴水较前一交易日下跌15元/吨至50元/吨，SMM天津锌现货价较前一交易日上涨110元/吨 至22330元/吨。SMM天津锌现货升贴水较前一交易日下跌25元/吨至10元/吨。 期货方面：2025-07-03沪锌主力合约开于22320元/吨，收于22325元/吨，较前一交易日上涨110元/吨，全天交易日 成交132674手，较前一交易日增加4654手，全天交易日持仓127934手，较前一交易日减少1829手，日内价格震荡， 最高点达到22400元/吨，最低点达到22245元/吨。 库存方面：截至2025-07-03，SMM七地锌锭库存总量为8.24万吨，较上周同期增加0.29万吨。截止2025-07-03，LME 锌库存为112675吨，较上一交易日减少750吨。 市场 ...

根据市场公开信息及7月3日披露的机构调研信息，知名私募保银投资近期对1家上市公司进行了调研， 相关名单如下： 1）驰宏锌锗 （保银投资参与公司特定对象调研&策略会、反路演） 调研纪要：驰宏锌锗在2025年上半年因锌精矿供应宽松导致加工费上涨，有效降低了公司冶炼环节的生 产成本，提升了利润空间。公司通过优化管理和技术提升，保持铅锌精矿和冶炼产品成本行业领先。未 来，公司将继续深耕铅锌锗主业，科学规划产能布局，持续扩大资源储备，并通过内部资源增储和外部 并购，提高可持续发展能力。此外，公司承诺每年现金分红不少于当年可分配利润的30%，三年累计不 少于40%。云铜锌业已投产，金鼎锌业待条件成熟后注入上市公司。公司高度重视市值管理，已将市值 管理目标纳入考核指标。会泽矿业和荣达矿业的恢复生产时间尚不确定，但公司将继续优化生产，提升 产量。 机构简介： PinPoint是一家为高端客户提供一系列选择性（包括Equity和Commodity）投资产品的优秀资产管理机 构,持有香港9号牌牌照。公司的投资理念是：我们认为金融市场，特别是亚洲市场不是完全有效的。因 此我们可以通过深入的研究和合理的分析取得超值回报。我们崇尚价值 ...

Group 1 - The introduction of innovative technologies in the zinc smelting industry is significantly reducing energy consumption by approximately 30% and pollutant emissions by over 40%, enhancing metal recovery rates and achieving both environmental and economic benefits [1] - The production of ultra-high purity metals such as 6N and 7N grade tellurium, cadmium, zinc, and indium is entering mass production, supporting the transition of companies from raw material leaders to strong players in new materials [1] - Traditional industries in Jiyuan are actively innovating and upgrading to improve competitiveness in response to increasing domestic and international competition and environmental constraints [1] Group 2 - Jiyuan Steel has developed a world-first non-exchange electrode (10.4-meter self-consumption electrode) process to produce ultra-pure electric slag steel ingots, addressing the challenges of the steel industry's internal competition [2] - Jinma Energy is establishing a complete hydrogen energy industrial chain, supplying 700 to 800 million cubic meters of hydrogen annually to local petrochemical projects [2] - Wanyuan Group is leveraging selenium resources from industrial by-products to produce selenium products, achieving an annual output value of 15 million yuan [2] Group 3 - Jiyuan is implementing a "1+5+N" strategic layout to enhance high-quality development, focusing on five key areas including building a strong industrial city [3] - The city is deepening technological reforms and establishing a comprehensive innovation system to boost productivity through technological advancements [3] - Jiyuan is actively promoting traditional industry upgrades and implementing policies to support enterprise development through a multi-faceted service system [3] Group 4 - The non-ferrous metal industry cluster in Jiyuan has an annual output value of nearly 200 billion yuan, with steel processing and modern chemical industries also approaching the 100 billion yuan mark [4] - All enterprises in the region have achieved ultra-low emissions, and the output value of the circular economy accounts for over 30% of the total industrial output value [4]

Core Viewpoint - The company, Huaxi Nonferrous Metals, has voluntarily given up its recently acquired mining exploration rights due to overlapping issues with an upcoming railway project, which was unknown at the time of bidding [1][2][4]. Group 1: Acquisition and Significance - Huaxi Nonferrous Metals' subsidiary, Guangxi 215 Geological Team, won the bidding for the mining exploration rights for the Zhaiping lead-zinc mine in Hechi City for nearly 1.26 billion yuan, marking the company's first market-based acquisition of exploration rights [1][2]. - The acquisition was seen as a significant milestone for the company, enhancing its resource control capabilities and sustainable development [2]. Group 2: Withdrawal and Reasons - On July 3, the company announced its decision to abandon the exploration rights and requested a refund of the 1 million yuan deposit due to the discovery that the exploration area overlaps with the design route of the Gui-Gui Railway, which cannot be adjusted [1][3]. - The company stated that it was unaware of the overlapping issue at the time of the bidding process, which has now posed a significant disadvantage to its future exploration and related activities [4]. Group 3: Regulatory Context - The exploration rights were subject to regulations that require bidders to be aware of existing or planned infrastructure, such as railways, and to avoid conflicts during exploration [5]. - The Gui-Gui Railway project had already passed the land use pre-examination by the State Council in December of the previous year, indicating that the railway's planning was established prior to the bidding [4].

肃陇南市武都区姚寨沟，山水、花草与村落交织成色彩斑斓的画卷。武都区融媒体中心供图 中新网甘肃陇南7月3日电 (高展)盛夏的甘肃陇南，群山叠翠间涌动着发展热潮。宕昌县哈达铺镇工业园 区内，陇南泰昆康牧饲料公司6个月实现"签约即投产"，见证"无事不扰"的服务效能；武都区吉石坝商 贸物流园区里，数十家配套企业围绕物流产业链集聚，彰显"链式出击"的招商智慧；西成铅锌矿带的选 矿厂区内，全国第三大矿体正转化为产业动能，折射资源变现的强劲势能……从山间田野到工业园区， 陇南各处跃动的高质量发展脉搏，正是"筑暖巢，引凤栖"的生动注脚。 "家底"亮出来：铺就招商基石 在陇南市委书记张柯兵对外推介时，一组数据时常被提及：已探明金属和非金属矿产34种，铅锌储量居 甘肃省第一；高等植物2500多种、中药材1200多种，"千年药乡"名副其实；2100多个美丽乡村与22家 4A级以上景区构成文旅画卷；1.95万公里公路通车里程、672公里高速公路织就交通网络。这些数字背 后，是陇南招商引资的"底气"所在。 近年来，陇南市立足自然禀赋，围绕新能源(装备制造)、有色冶金、白酒酿造、非金属、重晶石、中药 材、茶叶、苹果、食用菌、现代物流、文 ...