炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 事件：公司发布2025年半年报。2025年上半年公司营业收入105.81亿元，同比+7.67%；归母净利润9.32亿元，同比+3.27%；扣非净利润9.19亿元，同比+12.11%；其中2025Q2，公司单季 矿山端：精矿产量同比略有恢复，铅锌价格同比稳定。公司25H1铅锌精矿金属产量15.16万吨，同比增加0.34万吨，其中，铅/锌产量同比变化+13.8%/1.3%。会泽矿业深部安全系统优化工程 冶炼端：锌加工费趋势性回升明显，产量受检修影响同比略有下滑。25H1铅锌精炼产品产量32.92万吨，同比-6.98%，其中锌合金产品产量10.95万吨，同比+17.23%；锗产品含锗产量32.5 费用有所提升，资产结构进一步优化。25H1公司销售/管理/研发费用分别0.32/5.54/0.63亿元，同比变化+44.10%/+23.91%/+41.06%，主要系薪酬计提同比增加。截至2025年上半年公司 未来看点：①铅锌行业龙头，资源禀赋优异。铅锌资源量超过3200万吨，矿山铅锌精矿完全成本稳定保持在行业前1/4分位；②资产注入进行时，青海鸿鑫 ...

云南驰宏锌锗股份有限公司2025 年半年度报告摘要 公司代码：600497 公司简称：驰宏锌锗 云南驰宏锌锗股份有限公司 云南驰宏锌锗股份有限公司2025 年半年度报告摘要 第二节 公司基本情况 | 公司股票简况 | | | | | | --- | --- | --- | --- | --- | | 股票种类 股票上市交易所 | | 股票简称 | 股票代码 | 变更前股票 | | 简称 | | | | | | A股 上海证券交易所 | | 驰宏锌锗 | 600497 | — | | 联系人和联系方式 | | 董事会秘书 | 证券事务代表 | | | 姓名 | 李辉 | | 李珺 | | | 电话 | 0874-8966698 | | 0874-8966698 | | | 云南省曲靖市经济技术开发区 | | | 云南省曲靖市经济技术开发 | | | 办公地址 | | | | | | 驰宏锌锗办公楼 | | | 区驰宏锌锗办公楼 | | | 电子信箱 | chxz600497@chinalco.com.cn | | chxz600497@chinalco.com.cn | | | 云南驰宏锌锗股份有限公司2025 ...

人民财讯8月26日电，驰宏锌锗（600497）8月26日晚间披露2025年半年报，上半年实现营业收入105.81 亿元，同比增长7.67%；归母净利润9.32亿元，同比增长3.27%；基本每股收益0.1831元。公司拟向全体 股东每10股派发现金红利0.3元(含税)。 ...

Investment Rating - The report assigns an "Outperform" rating for the company, with a reasonable valuation range of 15.41 to 18.49 CNY per share, indicating a potential upside of 47% to 77% from the current price of 10.24 CNY [5]. Core Insights - The company is a leading player in the domestic zinc smelting industry, with a comprehensive business model that includes mining, smelting, and sales of non-ferrous metals, particularly lead, zinc, gold, and silver [1][27]. - The company has a robust production capacity, with an annual output of over 40,000 tons of lead and zinc metals, along with 1.8 to 2 tons of gold and approximately 60 tons of silver [1][38]. - The company has recently completed a significant asset restructuring, acquiring core lead and zinc assets, which has enhanced its operational capabilities and resource base [16][47]. Summary by Sections Business Overview - The company primarily engages in the mining and smelting of lead, zinc, and precious metals, with nearly half of its gross profit derived from precious metals [1]. - It operates three mines and has a total mining capacity of 860,000 tons per year, with significant resources in lead, zinc, gold, and silver [2][32]. Financial Performance - The company forecasts a substantial increase in net profit, projecting 1.1 billion CNY for 2025, representing a 40% growth from the previous year [4]. - Revenue is expected to grow from 19.4 billion CNY in 2023 to 20.9 billion CNY in 2025, reflecting a compound annual growth rate (CAGR) of 6.1% [4][28]. Resource and Production Capacity - The company has a total lead and zinc metal resource of approximately 870,000 tons, with gold and silver resources of 43 tons and 1,259 tons, respectively [35]. - The mining rights include the Water Mouth Mountain lead-zinc mine and the Bafang copper mine, which contribute to the company's strong resource base [2][19]. Market Dynamics - The report highlights an improving market for zinc processing fees, with domestic zinc concentrate processing fees showing an upward trend, which is expected to enhance smelting profits [2]. - The company benefits from a favorable resource endowment, with high-grade ore and a well-structured supply chain that supports its production needs [32][35].