Core Viewpoint - The company, Dongfang Tantalum Industry, has achieved significant technological breakthroughs in the production of high-purity tantalum products, which are widely used in various high-tech applications [2] Group 1: Product Applications - The company's products are utilized in superconducting products, high-temperature alloy additives, sputtering targets, tantalum capacitors, hard alloys, and chemical corrosion protection [2] Group 2: Technological Advancements - The company has successfully achieved full-process technological breakthroughs and industrial integration in the production of high-purity tantalum powder, high-purity tantalum ingots, and 12-inch tantalum target blanks [2]

Group 1 - The company, Dongfang Tantalum Industry, stated on November 11 that it will strictly comply with the information disclosure regulations of the Shenzhen Stock Exchange [2]

证券日报网讯 中矿资源（002738）11月11日在互动平台回答投资者提问时表示，公司稀有轻金属 （铯、铷）原料业务板块的主要研发团队和管理团队均为业内资深人士，具有丰富的质量控制、产品研 发和生产管理经验。公司重视技术和产品研发，将不断扩宽产品种类，满足下游客户多样化采购的需 求。 ...

证券日报网讯东方钽业11月11日在互动平台回答投资者提问时表示，截至2025年11月10日收盘，公司持 有人数量为64940户。 （文章来源：证券日报） ...

Core Insights - The company is focusing on the application of tantalum and niobium materials in emerging fields, aiming to enhance product technology and market competitiveness [2] - The company is implementing technical upgrades, increasing research and development investments, and strengthening market expansion efforts to create new growth points in high-end tantalum and niobium materials [2] - The overall goal is to achieve high-quality development through these initiatives [2]

Core Insights - Dongfang Tantalum experienced a trading halt with a daily decline of 10.40%, leading to significant trading activity and net selling by institutions [2] Trading Activity - The stock had a turnover rate of 8.88% and a total trading volume of 1.288 billion yuan, with a price fluctuation of 10.81% throughout the day [2] - Institutional investors net sold 21.244 million yuan, while the Shenzhen Stock Connect saw a net purchase of 43.1225 million yuan [2] Market Participation - The top five trading departments accounted for a total transaction volume of 455 million yuan, with buying transactions amounting to 180 million yuan and selling transactions totaling 274 million yuan, resulting in a net selling of 94.3104 million yuan [2] - Four institutional specialized seats were involved in trading, with total buying amounting to 67.9453 million yuan and selling amounting to 89.1897 million yuan, leading to a net selling of 21.2444 million yuan [2] Fund Flow - The stock saw a net outflow of 193 million yuan in principal funds, with a significant outflow of 173 million yuan from large orders and 20.26 million yuan from larger transactions [2] - Over the past five days, the net outflow of principal funds reached 117 million yuan [2]

Core Viewpoint - Dongfang Zirconium (002167.SZ) is conducting sample testing of its zirconia products for alkaline electrolyte hydrogen production [1] Group 1 - The company is involved in the development of zirconia products specifically for the hydrogen production sector [1]

三祥新材计划扩大核级锆产能，并利用现有氧氯化锆进行锆铪分离，预 计可副产 50-70 吨氧化铪，进一步提纯为超高纯产品，实现满负荷生产 和效益最大化。 海外市场对高端材料需求旺盛，国内存储芯片产业扩张也带动需求增长， 预计高端材料价格将稳步增长。三祥新材通过国产替代降低成本，提高 竞争力，电子级和原子能级产品价格可观。 铪价大涨，关注 A 股核心标的三祥新材 20251107 摘要 全球国防科工和 AI 产业发展推动对高温合金材料和氧化铪的需求激增， 尤其是在存储芯片领域，氧化铪作为绝缘层替代二氧化硅，以应对更小 制程带来的挑战。 三祥新材致力于锆产业全产业链一体化布局，拥有全球最全品类、最大 产能和最优工艺，并启动新的锆分离项目，预计 2026 年第二季度投产， 提升纯度至 5N 级以上，满足高端市场需求。 锆和铪是天然伴生资源，分离难度大，且过去核电建设停滞导致铪产量 受限。中国出口限制进一步加剧了海外半导体和军工等高端应用领域的 供给缺口，推高价格。 铪在半导体、国防军工、高温合金和第四代核电等领域具有广泛应用前 景，尤其是在先进制程芯片和新型核反应堆中，有望逐步替代现有材料 体系。 三祥新材采用氯化法 ...

Group 1 - Tianqi Lithium Industries Inc. experienced a stock price increase of 5.26% on November 10, reaching 59.99 CNY per share, with a trading volume of 2.388 billion CNY and a turnover rate of 2.74%, resulting in a total market capitalization of 98.455 billion CNY [1] - The stock has risen for three consecutive days, with a cumulative increase of 5.53% during this period [1] - The company, founded on October 16, 1995, and listed on August 31, 2010, specializes in the production and sales of lithium concentrate products and lithium compounds, with revenue composition of 50.54% from lithium compounds and derivatives, 49.25% from lithium ore, and 0.21% from other sources [1] Group 2 - According to data from the top ten holdings of funds, one fund under GF Fund has heavily invested in Tianqi Lithium Industries. The GF CSI Rare Metals ETF (159608) increased its holdings by 343,700 shares in the third quarter, totaling 633,200 shares, which represents 4.43% of the fund's net value, making it the sixth-largest holding [2] - The estimated floating profit from this investment today is approximately 1.8997 million CNY, with a floating profit of 1.83 million CNY during the three-day increase [2] - The GF CSI Rare Metals ETF (159608) was established on December 15, 2021, with a current scale of 680 million CNY, achieving a year-to-date return of 81.22%, ranking 41 out of 4216 in its category, and a one-year return of 56.97%, ranking 179 out of 3917 [2]

Core Viewpoint - The acquisition of Xiamen Tungsten Co., Ltd. by Fujian Provincial Industrial Holding Group Co., Ltd. has been completed through the transfer of 80% equity of Fujian Metallurgy, making Fujian Industrial the indirect controlling shareholder of Xiamen Tungsten [1][3][5]. Group 1: Acquisition Process - Fujian Provincial Industrial Holding Group acquired 80% equity of Fujian Metallurgy from the Fujian Provincial State-owned Assets Supervision and Administration Commission, resulting in a 30.90% indirect ownership in Xiamen Tungsten [3][4]. - The acquisition was exempt from making a public offer as it met the criteria outlined in the Acquisition Management Measures [3]. - The completion of the acquisition was officially registered on July 4, 2025, with all necessary documentation filed [2][5]. Group 2: Ongoing Supervision - The financial advisor will monitor the operational status of Xiamen Tungsten from July 1, 2025, to July 4, 2026, ensuring compliance with the regulations during this period [2]. - The financial advisor has confirmed that both the acquirer and the listed company have fulfilled their disclosure obligations regarding the acquisition [6][21]. Group 3: Compliance and Governance - During the supervision period, the governance of the listed company has been found to be compliant with relevant laws and regulations, with no violations detected [6][21]. - The acquirer has made commitments to maintain the independence of the listed company and avoid conflicts of interest, which have been adhered to during the supervision period [8][21]. Group 4: Future Plans - The acquirer has no plans to change the main business operations of Xiamen Tungsten or make significant adjustments within the next 12 months following the acquisition [9][10]. - There are no plans for major asset disposals, mergers, or changes in the board of directors or senior management within the same timeframe [11][12][13]. Group 5: Dividend Policy - The acquirer has not proposed any significant changes to the dividend policy of Xiamen Tungsten, and the company has announced a shareholder return plan for the next three years [17][21].