从小在厂区长大的楼城从父辈手中接过了接力棒。在民营企业面临接班困境、通过股权变动寻找"出 路"的当下，楼城的回答清晰而明确：不折腾、不套现，"只想一心一意把企业做好"。 第二个"从未"，是长期主义的精进——"39年来，我们企业从未有一年是亏损的。" 靠着"不离开制造业"的专注与韧性，金田股份把铜加工做到了极致。 也正是这份定力，让金田股份在产业升级的关键节点不断打开新空间——高端铜合金与稀土永磁材料加 速进入新能源汽车、芯片算力、低空飞行器、机器人等前沿赛道；绿色低碳再生铜业务也实现了全产业 链闭环，构建起清晰的差异化壁垒。 金田正以稳扎稳打的节奏，将铜加工锻造为战略性新兴产业背后的"筋骨"。 两个"从未"，三次跃升 金田股份的专注，首先沉淀在两个"从未"里。 第一个"从未"，是扎根实业的定力——"公司成立39年，从我父亲那一代，到今天我和团队，我们从未 想过离开制造业。"金田股份董事长楼城说。 金田股份的前身，是20世纪80年代濒临倒闭的妙山砂轮厂。彼时，在宁波市江北区妙山乡镇任工业办副 主任的创始人楼国强"临危受命"，接下了这块"烫手山芋"。楼国强带着团队走遍东南沿海，调研市场、 收集需求，最终力排众议进 ...

Core Viewpoint - Jintian Co., Ltd. has achieved excellence in copper processing through a focus on manufacturing and resilience, successfully entering high-end markets such as new energy vehicles and green low-carbon recycled copper [1][2]. Group 1: Company Background and Strategy - Jintian Co., Ltd. has a 39-year history rooted in manufacturing, with a commitment to remain in the industry without seeking alternative paths [3]. - The company has never reported a loss in its 39 years of operation, demonstrating a long-term commitment to stability and growth [4]. - Jintian has undergone three significant strategic upgrades: entering copper processing in 1987, transitioning to a joint-stock company in 2001, and listing on the Shanghai Stock Exchange in 2020 [4]. Group 2: Technological Advancements - The company focuses on refining technical details that enhance competitiveness, such as material purity and process stability [5]. - Jintian has invested several hundred million yuan in upgrading its recycled copper processes, achieving a purity level of 99.99% [5]. - The company has received multiple international certifications for its recycled copper products, which have seen a sales increase of over 60% year-on-year [5]. Group 3: Market Expansion and Growth - Jintian aims to break through the "ceiling" of copper processing by expanding its market and enhancing product quality [6]. - The company is transitioning towards high-end manufacturing clients, establishing partnerships with major technology and green energy firms globally [7]. - In the first half of the year, Jintian's overseas revenue reached 7.414 billion yuan, a year-on-year increase of 21.86%, with copper product exports growing by 14.52% [5].

Core Viewpoint - China Metal Resources Utilization (01636) reported a significant decline in revenue and continued losses, indicating challenges in operations and market conditions [1] Financial Performance - The company achieved a revenue of 341 million yuan for the six months ending June 30, 2025, representing a year-on-year decrease of 24.96% [1] - The loss attributable to shareholders was 208 million yuan, a reduction of 6.16% compared to the previous year [1] - The loss per share was 0.46 yuan [1] Sales and Operations - The company sold 4,877 tons of recycled copper products, generating sales revenue of 339 million yuan from these products [1] - Due to a lack of operating funds and poor conditions in the real estate sector, the company's communication cable and power distribution cable businesses have not resumed operations, with most products already sold [1] - The company anticipates that once it secures sufficient operating funds, it will be able to restore the two downstream businesses as the real estate market begins to stabilize [1]

Core Viewpoint - China Metal Resources Utilization (01636) reported a significant decline in revenue and an increase in losses for the six months ending June 30, 2025, primarily due to insufficient operating capital and unfavorable conditions in the real estate sector [1] Financial Performance - The company achieved a revenue of 341 million yuan, representing a year-on-year decrease of 24.96% [1] - The loss attributable to shareholders was 208 million yuan, a year-on-year decrease of 6.16% [1] - The loss per share was 0.46 yuan [1] Sales and Operations - The company sold 4,877 tons of recycled copper products, generating sales revenue of 339 million yuan from these products [1] - The communication cable and power distribution cable businesses have not resumed operations due to a lack of operating capital and poor market conditions in the real estate sector [1] - Most products have been sold, and the company anticipates a recovery in these two downstream businesses once sufficient operating capital is obtained and the real estate market stabilizes [1]