证券日报网讯 2月2日，粤宏远A在互动平台回答投资者提问时表示，再生铅业务的利润受废电瓶（核心 原料）与铅价格的联动影响，铅价上涨时，废电瓶价格也会联动上涨，推高采购成本，成本传导效应使 得利润改善空间不是很明显，这项业务还需要各环节多措并举改善，具体经营情况敬请留意公司未来定 期报告的披露情况。 （文章来源：证券日报） ...

每经头条（nbdtoutiao）——国际金价冲破5000美元！7年涨了280%，什么时候才见顶？专家：关键还 看美元，重点关注国际货币体系、降息和科技革命 （记者 曾健辉） 每经AI快讯，粤宏远A1月27日晚间发布业绩预告，预计2025年归属于上市公司股东的净利润5600万 ~8300万元，比上年同期增长217.40%~274.01%，基本每股收益0.0877元~0.1300元。公司预计2025年度 业绩净利润为正值且业绩同比增长，主要是得益于本期转让贵州宏途鑫业矿业有限公司股权产生的收 益。本期再生铅业务收入略有增长，但受行业整体经营环境的影响，利润贡献占比还有待提高；东莞南 城时代国际雍雅台项目在2025年第四季度开盘销售，对2025年收入影响甚微，江苏昆山花桥项目尚待推 售，自营房地产年内在售项目主要为东莞桥头帝庭山花园，房地产业务总体营业收入不高；同时，房地 产股权合作项目方面本期投资收益亦无重大变化。本期公司非经常性损益对净利润影响金额预估约为 1.17亿元。 ...

Group 1: Real Estate Operations - The company currently has two real estate projects for sale: Dongguan Qiaotou Diting Mountain Garden and Dongguan Nancheng Times International Yongya Terrace; the Jiangsu Kunshan Huqiao project is pending sale [2] - The rental income from real estate operations is projected to be approximately CNY 36.32 million for 2024 and CNY 17.15 million for the first half of 2025 [2] Group 2: Management and Shareholding - Directors and executives primarily acquired their shares through the company's 2017 restricted stock incentive plan; they have not sold any shares since the lifting of restrictions [2] - During their tenure, directors and executives are allowed to transfer no more than 25% of their shares each year [2] Group 3: Business Performance and Future Plans - The overall performance for 2025 is still under assessment, and any necessary performance forecasts will be announced by the end of January [3] - The company plans to enhance its recycling lead business, aiming for steady revenue growth while reducing costs and increasing efficiency [3] - The termination of a major asset restructuring plan was due to the inability to reach consensus on key terms such as transaction pricing [3] - The company's transformation direction is inclined towards projects that are supported by national policies, have a technological foundation, market potential, and suitable scale [3]

Group 1: Company Performance and Financials - The company reported a net profit of -13.91 million from its main business, attributed to the real estate sector [2] - Real estate sales revenue for the first half of 2025 was 6,238,095.24 yuan, a decrease of 16.05% year-on-year [4] - The company holds 9.59 billion in inventory, primarily from real estate projects (approximately 9 billion) and waste battery projects (approximately 0.55 billion), with no significant impairment risk reported [3] Group 2: Strategic Direction and Transformation - The company is pursuing industrial transformation through mergers and acquisitions to establish a second growth curve [2] - There is an ongoing effort to optimize the main business while steadily pursuing mergers and acquisitions [4] - The company is considering cash acquisitions of profitable high-tech assets to improve its operational situation, given the decline in its main business [4] Group 3: Investor Relations and Feedback - Investors expressed concerns about the lack of suitable merger targets and suggested divesting from real estate to enter sectors like semiconductors and new energy [1] - The company has received suggestions for share buybacks to enhance shareholder confidence, which is currently not prioritized due to the focus on future transformation needs [2] - The company reassured investors that its production and operational status is normal, despite recent stock price declines [3]

Group 1 - The company, Yuehongyuan A, held its 20th meeting of the 11th board of directors on August 27, 2025, in Dongguan, where it reviewed documents including proposals for revising and approving certain company systems [1] - For the first half of 2025, the revenue composition of Yuehongyuan A was as follows: recycled lead business accounted for 89.02%, real estate (rental) 7.11%, real estate 2.58%, public utilities (water and electricity) 1.25%, and other businesses 0.04% [1]

Group 1 - The company is committed to advancing various initiatives beneficial for transformation and development, having conducted numerous project investigations and practical explorations [1] - The early investment in coal mining yielded reasonable returns, but the business faced obstacles due to industry policy adjustments and changes in the business environment [1] - The company is actively revitalizing coal mining assets to maximize asset value [1] Group 2 - The profitability of the recycled lead business is highly correlated with the price fluctuations of metallic lead [1] - Management optimization of the new Yu company has led to improved operational efficiency [1] - The company plans to focus on optimizing its main business and pursuing steady mergers and acquisitions while transitioning into a technology-driven enterprise [1] Group 3 - The company aims to continuously enhance development quality and efficiency [1]

Industry Overview - The capacity of China's recycled lead industry has been steadily increasing, driven by stricter environmental policies, technological advancements, and rising market demand [2][4] - As restrictions on primary lead production tighten, recycled lead is gaining more attention as an environmentally friendly alternative, prompting companies to invest in recycled lead projects and technological upgrades [2] - By 2023, China's recycled lead capacity has exceeded 8 million tons, becoming a major source of lead supply [2] Production Growth - The production of recycled lead in China has shown significant growth in recent years, largely due to the push from environmental policies and improved recycling efficiency [4] - The production efficiency and recovery rates of recycled lead have continuously improved, leading to an increase in output [4] - In the first four months of 2024, the production of recycled lead in China was approximately 128.29 thousand tons [4] Market Dynamics - The recycled lead industry is gradually moving towards a park-based development model, with many large enterprises establishing recycled lead industrial parks and integrating downstream lead-acid battery companies [6] - The market is characterized by intense competition and high concentration, with the top four recycled lead companies holding about 31.2% of the market share, indicating a low degree of oligopolistic market structure [6] Company Spotlight - Yuguang Gold Lead is one of China's leading recycled lead producers, focusing on recycling waste lead-acid batteries and other lead-containing waste [8] - The company has advanced smelting technology and strict environmental management measures, enabling efficient recovery of lead resources while minimizing pollution emissions [8] - In 2023, Yuguang Gold Lead's revenue from lead products reached 7.789 billion yuan [8] Research Methodology - The research team from Huajing Industry Research Institute employs a combination of desktop research, quantitative surveys, and qualitative analysis to comprehensively analyze the overall market capacity, industry chain, operational characteristics, profitability, and business models of the recycled lead industry [10] - Various analytical models such as SCP, SWOT, PEST, regression analysis, and SPACE matrix are utilized to assess the market environment, industry policies, competitive landscape, technological innovations, market risks, industry barriers, opportunities, and challenges [10]