Investment Rating - The report maintains a "Recommended" investment rating for the beryllium industry [2]. Core Insights - The global beryllium resource distribution is highly concentrated, with the United States, Brazil, and China being the primary producers, accounting for 49%, 22%, and 21% of global production respectively [6][19]. - Beryllium is identified as a key metal for controlled nuclear fusion, with significant applications in various fields including optics, semiconductors, aerospace, nuclear industry, military, and household appliances [6][11]. - The beryllium market is expected to grow due to increasing demand in industrial components and automotive electronics, with global beryllium production projected to rise from 210 tons in 2017 to 364 tons by 2024 [19][21]. Summary by Sections 1. Beryllium Resource Distribution - Beryllium resources are primarily located in the United States, Canada, and Brazil, with the U.S. holding approximately 60% of the known global resources [16][19]. - China's beryllium resources are abundant but of lower quality, leading to challenges in industrial utilization [16][19]. 2. Applications and Strategic Value of Beryllium - Beryllium is utilized in high-performance applications due to its high stiffness, excellent thermal conductivity, and dimensional stability, making it crucial in defense, aerospace, and energy sectors [25][27]. - The beryllium supply chain includes raw material extraction, intermediate product manufacturing, and high-value end products such as beryllium copper alloys, beryllium aluminum alloys, and beryllium oxide ceramics [25][26]. 3. Key Companies in the Beryllium Industry - Materion Corporation is the largest beryllium supplier globally, holding a 70% market share, and provides a range of high-performance beryllium products for various industries [43][44]. - NGK Insulators, Ltd. is the second-largest producer of beryllium copper alloys, sourcing beryllium oxide from Materion and serving multiple sectors including aerospace and electronics [48][49].

证券代码：601069 证券简称：西部黄金 公告编号： 2025-022 西部黄金股份有限公司 2025 年第一季度经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据上海证券交易所《上海证券交易所上市公司自律监管指引第 3 号——行 业信息披露》要求，现将西部黄金股份有限公司（以下简称"公司"）2025 年 第一季度（1-3 月）主要有色金属品种产销量及盈利情况披露如下（财务数据未 经审计）： 一、2025 年第一季度（1-3 月）主营业务分行业、分产品、分地区、分销售模式情况 单位：元 币种：人民币 | | | | 主营业务分行业情况 | | | | | --- | --- | --- | --- | --- | --- | --- | | 分行业 | 营业收入 | 营业成本 | 毛利率（%） | 营业收入比上年增 | 营业成本比上 | 毛利率比上年增减 | | | | | | 减（%） | 年增减（%） | （%） | | 黄金行业 | 1,508,003,259.23 | 1,422,538,270.46 ...