讯记者从兰州新区综合保税区获悉，今年以来，兰州新区综合保税区通过政策协同、政企联动、业态创新等多项举措，全力推进贵金属产业高质量发展， 实现黄金、白银保税物流及黄金加工贸易业务新突破。截至目前，已完成贵金属进出口额15亿元，区内贵金属进出口分拨中心迈入有序运营、稳步发展的 新阶段，为西北区域贵金属产业布局注入强劲动力。 一审：刘明德 二审：王槿湉三审：丁小岚 为破解贵金属产业发展瓶颈，兰州新区综保区管委会主动作为，构建多部门协同推进机制。通过加强与海关、税务、外汇等监管部门的常态化沟通协作， 凝聚政策合力，精准布局贵金属加工产业。今年8月，首单进口黄金加工业务顺利落地，标志着综保区贵金属加工贸易实现零的突破；同期，贵金属进出 口分拨中心正式投入运营，为业务常态化开展、规模化扩张搭建起核心平台，奠定了坚实的运营基础。 审签：祁永礼 兰州新区综合保税区 贵金属进出口分拨中心 11 84 y [25] 新社新客户端 编辑：卢文茂 贵金属进出口分拨中心对进口黄金进行计量。（资料图） 在产业资源整合方面，综保区强化与甘肃省内外贵金属龙头企业的深度合作，积极引导省内外贸资源向综保区集中集聚。通过优化保税仓储服务流程，持 ...

Core Viewpoint - Guiyan Platinum Industry (600459.SH) plans to raise up to 1.291 billion yuan through a private placement of A-shares to fund technological innovation, industrial transformation, and working capital, despite facing challenges with profit growth and increasing debt levels [2][3][5]. Group 1: Business Strategy and Expansion - The company is focused on building a closed-loop industrial chain around three core areas: precious metal new material manufacturing, resource development and recycling, and supply services [3]. - The funds raised will be allocated to seven projects, including a 400 million yuan investment in a national key laboratory for precious metal functional materials and 84 million yuan for an AI laboratory for new materials [3][4]. - The necessity for expansion is driven by the rapid growth of emerging industries and supportive government policies for new material development [3][4]. Group 2: Financial Performance and Debt Levels - As of mid-2025, the company's total assets reached 19.795 billion yuan, a 36.10% increase from the beginning of the year, with liabilities amounting to 12 billion yuan and a debt-to-asset ratio of 61.01%, up 13.75% year-on-year [5]. - Short-term borrowings surged by 178.11% to 3.318 billion yuan, primarily to support the expanded production scale [5][6]. - The company has a history of relying on financing, with previous fundraising efforts totaling nearly 4.2 billion yuan, often used for debt repayment and working capital [5][6]. Group 3: Profitability Challenges - Despite a 20.91% increase in revenue to 29.554 billion yuan in the first half of 2025, net profit only grew by 2.30% to 325 million yuan, indicating a significant disparity between revenue growth and profit [8]. - The company's net profit margin declined from 1.3% to 1.1%, placing it at the bottom of the industry, while gross margin fell to 2.19%, down from 3.5% in previous periods [8][9]. - The low profitability is attributed to the low-margin nature of the precious metal processing industry and the company's heavy asset model, which incurs high upfront costs [8][9]. Group 4: Inventory and Cash Flow Concerns - The company's inventory skyrocketed by 70.67% to 7.391 billion yuan, constituting 37.34% of total assets, raising concerns about potential devaluation risks and cash flow pressures [9][10]. - Inventory turnover rates have been declining, indicating weakening inventory management, with the latest rate at 4.93 [10]. - The improvement in cash flow is not due to enhanced profitability but rather through aggressive collection efforts and extended payment terms, highlighting ongoing challenges in cash generation [9].

Core Viewpoint - The successful import of 47.6 kg of gold from Hong Kong to the Lanzhou New Area Comprehensive Bonded Zone marks the operational launch of the precious metals import and export distribution center, injecting new momentum into the development of the precious metals industry in the region [1] Group 1: Business Operations - The imported gold will be processed by Gansu Dongwu Precious Metals Co., Ltd, indicating a proactive exploration of precious metals processing [1] - The Lanzhou New Area Comprehensive Bonded Zone has achieved a breakthrough in bonded logistics for gold and silver, with over 500 million yuan in precious metals import and export value realized to date [1] Group 2: Government Support and Collaboration - The Comprehensive Bonded Zone Management Committee collaborated with regulatory departments to provide comprehensive support and "one-stop" foreign trade guidance for the successful execution of this business [1] - Key stakeholders, including Lanzhou Customs and the Lanzhou Municipal Bureau of Commerce, engaged in extensive research and meetings to streamline business processes and regulatory frameworks [1] Group 3: Future Plans - The Lanzhou New Area Comprehensive Bonded Zone Management Committee aims to strengthen investment attraction, extend the industrial chain, and enhance product added value, contributing to the dual improvement of the scale and quality of precious metals foreign trade [1]