辉煌"十四五" 有色新质变 ——我国有色金属工业"十四五"发展成就综述 中国有色金属工业协会 党委书记、会长 葛红林 "十四五"时期，是全面建设社会主义现代化国家新征程的开局5年，更是我国有色金属工业 实现历史性跨越、完成从"量的积累"到"质的飞跃"的关键5年。面对百年变局加速演进、全球 产业链重构、绿色低碳转型等多重挑战，我国有色金属工业在习近平新时代中国特色社会主 义思想的指引下，完整、准确、全面贯彻新发展理念，迎难而上、砥砺前行，高质量发展稳 步推进，全球竞争力持续增强，战略地位愈加凸显，书写了从"有色大国"向"有色强国"迈进 的崭新篇章。 辉煌"十四五" 时代坐标下的产业新质变 总量突破与效益跃升 质变根基持续夯实 "十四五"时期，我国有色金属工业摆脱规模扩张依赖，实现了产量、效益、贸易的协同质 变，综合实力跃上新高度。 一是主要金属产量首次突破8000万吨，全球供给主导地位稳固。2025年，我国十种常用有 色金属产量8175万吨，全球占比超50%，"十四五"年均增速5%。其中，精炼铜1472万吨、 电解铝4502万吨、精炼铅774万吨、精炼锌753万吨，分别占全球市场份额的47%、60%、 48%、 ...

大地熊回复称，目前公司烧结钕铁硼总体产能约10,000吨/年，公司"高综合性能烧结钕铁硼永磁体及器 件研发与产业化项目"等项目正按计划建设中，公司将根据下游市场需求变化情况，制定并推进产能提 升计划，逐步释放产能规模。 格隆汇1月27日｜有投资者在互动平台向大地熊提问：很多厂商公布了产能提升计划，大地熊25年的产 能和后面的产能提升预期大概是多少？ ...

1月21日，天和磁材涨0.99%，成交额1.66亿元。两融数据显示，当日天和磁材获融资买入额1253.31万 元，融资偿还980.64万元，融资净买入272.67万元。截至1月21日，天和磁材融资融券余额合计1.88亿 元。 机构持仓方面，截止2025年9月30日，天和磁材十大流通股东中，嘉实中证稀土产业ETF（516150）位 居第一大流通股东，持股85.05万股，相比上期增加44.68万股。南方中证1000ETF（512100）位居第二 大流通股东，持股72.33万股，相比上期减少1.19万股。华夏中证1000ETF（159845）位居第四大流通股 东，持股43.10万股，相比上期增加1626.00股。稀土ETF（516780）位居第五大流通股东，持股36.53万 股，相比上期增加17.97万股。广发中证1000ETF（560010）位居第七大流通股东，持股33.21万股，相 比上期减少1.59万股。 融资方面，天和磁材当日融资买入1253.31万元。当前融资余额1.88亿元，占流通市值的3.41%，融资余 额低于近一年30%分位水平，处于低位。 责任编辑：小浪快报 资料显示，包头天和磁材科技股份有限公司 ...

Core Viewpoint - Tianhe Magnetic Materials has experienced a stock price decline of 12.33% this year, with recent fluctuations indicating a slight recovery in the short term [1] Group 1: Company Overview - Tianhe Magnetic Materials Co., Ltd. is located in Baotou, Inner Mongolia, and was established on May 22, 2008. The company specializes in the research, production, and sales of high-performance rare earth permanent magnetic materials, including sintered NdFeB and sintered SmCo [2] - The main revenue composition of the company includes sintered NdFeB at 46.99%, sintered NdFeB finished products at 36.59%, sintered NdFeB blanks at 10.39%, and others at 5.02% [2] - As of September 30, 2025, the company reported a revenue of 1.61 billion yuan, a year-on-year decrease of 16.86%, while the net profit attributable to shareholders was 120 million yuan, reflecting a year-on-year increase of 12.46% [2] Group 2: Stock Performance and Market Activity - As of December 29, Tianhe Magnetic Materials' stock price was 41.95 yuan per share, with a market capitalization of 11.087 billion yuan. The stock has seen a trading volume of 69.68 million yuan and a turnover rate of 2.54% [1] - The company has appeared on the stock market's "Dragon and Tiger List" 44 times this year, with the most recent appearance on July 11, where it recorded a net buy of -9.1987 million yuan [1] - Institutional holdings as of September 30, 2025, show that the largest circulating shareholder is the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares from the previous period [3]

Core Viewpoint - Tianhe Magnetic Materials experienced a slight decline in stock price, with a trading volume of 60.25 million yuan on December 18, and a net financing purchase of 350,100 yuan on the same day [1] Group 1: Financial Performance - As of September 30, 2025, Tianhe Magnetic Materials reported a revenue of 1.61 billion yuan, a year-on-year decrease of 16.86%, while the net profit attributable to shareholders was 120 million yuan, reflecting a year-on-year increase of 12.46% [2] - Cumulative cash dividends paid by Tianhe Magnetic Materials since its A-share listing amounted to 39.64 million yuan [3] Group 2: Shareholder and Financing Information - The number of shareholders for Tianhe Magnetic Materials decreased to 39,700, a reduction of 27.77% compared to the previous period, while the average circulating shares per person increased by 41.29% to 1,662 shares [2] - As of December 18, 2025, the total balance of margin trading and securities lending for Tianhe Magnetic Materials was 184 million yuan, with a financing balance of 183 million yuan, accounting for 6.88% of the circulating market value [1] - The top circulating shareholders include the Harvest CSI Rare Earth Industry ETF, which holds 850,500 shares, an increase of 446,800 shares from the previous period [3]

Core Viewpoint - Dadi Bear's stock price has shown a significant increase of 52.77% year-to-date, despite recent declines in the short term, indicating potential volatility in the market [2]. Group 1: Stock Performance - As of November 25, Dadi Bear's stock price rose by 2.01% to 31.42 CNY per share, with a total market capitalization of 3.597 billion CNY [1]. - Year-to-date, Dadi Bear's stock has increased by 52.77%, but it has experienced a slight decline of 0.19% over the last five trading days, 9.14% over the last 20 days, and 17.90% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Dadi Bear achieved a revenue of 1.186 billion CNY, representing a year-on-year growth of 21.99%, and a net profit attributable to shareholders of 43.1814 million CNY, up 51.85% year-on-year [2]. - Since its A-share listing, Dadi Bear has distributed a total of 173 million CNY in dividends, with 90.5285 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Dadi Bear had 11,000 shareholders, a decrease of 8.99% from the previous period, with an average of 10,401 circulating shares per shareholder, an increase of 9.88% [2]. - The ninth largest circulating shareholder is the Jiashi Zhongzheng Rare Earth Industry ETF, which holds 755,900 shares as a new shareholder [3]. Group 4: Business Overview - Dadi Bear, established on November 4, 2003, and listed on July 22, 2020, specializes in the research, production, and sales of sintered neodymium-iron-boron rare earth permanent magnet materials, with 81.34% of its revenue coming from this segment [2]. - The company operates within the non-ferrous metals sector, specifically in the metal new materials and magnetic materials sub-industry, and is associated with concepts such as humanoid robots and rare earth permanent magnets [2].

Core Viewpoint - Tianhe Magnetic Materials experienced a slight increase in stock price, with a trading volume of 63.16 million yuan on November 17, 2023, despite a net financing outflow of 1.79 million yuan on the same day [1] Financing and Trading Data - On November 17, 2023, Tianhe Magnetic Materials had a financing buy-in of 2.88 million yuan and a financing repayment of 4.67 million yuan, resulting in a net financing buy-in of -1.79 million yuan [1] - The total financing and securities lending balance for Tianhe Magnetic Materials reached 193 million yuan, accounting for 6.26% of its circulating market value [1] - The company had no shares repaid in securities lending on November 17, 2023, but sold 1,200 shares, amounting to 56,000 yuan at the closing price [1] Company Overview - Tianhe Magnetic Materials, established on May 22, 2008, is located in the Rare Earth Application Industrial Park in Baotou, Inner Mongolia, and is set to be listed on January 3, 2025 [1] - The company specializes in the research, production, and sales of high-performance rare earth permanent magnetic materials, including sintered NdFeB and sintered SmCo [1] - The revenue composition of the company's main business includes: sintered NdFeB (46.99%), sintered NdFeB finished products (36.59%), sintered NdFeB blanks (10.39%), others (5.02%), sintered SmCo (0.51%), sintered SmCo blanks (0.27%), and sintered SmCo finished products (0.23%) [1] Financial Performance - As of September 30, 2023, Tianhe Magnetic Materials reported a total revenue of 1.61 billion yuan for the period from January to September 2023, a year-on-year decrease of 16.86% [2] - The net profit attributable to the parent company for the same period was 120 million yuan, reflecting a year-on-year increase of 12.46% [2] Shareholder Information - As of September 30, 2023, the number of shareholders for Tianhe Magnetic Materials was 39,700, a decrease of 27.77% from the previous period [2] - The average circulating shares per person increased by 41.29% to 1,662 shares [2] - The top circulating shareholders include: - Harvest CSI Rare Earth Industry ETF (516150) as the largest shareholder with 850,500 shares, an increase of 446,800 shares from the previous period [3] - Southern CSI 1000 ETF (512100) as the second-largest shareholder with 723,300 shares, a decrease of 11,900 shares [3] - Other notable shareholders include Huaxia CSI 1000 ETF (159845) and Rare Earth ETF (516780), with respective increases in holdings [3]

Core Viewpoint - Tianhe Magnetic Materials experienced a slight decline in stock price, with a trading volume of 68.87 million yuan on November 11, and a net financing purchase of 813,900 yuan for the day [1] Financing and Trading Data - On November 11, Tianhe Magnetic Materials had a financing purchase of 6.34 million yuan and a financing repayment of 5.53 million yuan, resulting in a net financing purchase of 813,900 yuan [1] - As of November 11, the total balance of margin trading for Tianhe Magnetic Materials was 200 million yuan, accounting for 6.42% of its circulating market value [1] - The company had a short selling repayment of 300 shares and a short selling of 200 shares on the same day, with a short selling amount of 9,422 yuan [1] Company Overview - Tianhe Magnetic Materials, established on May 22, 2008, is located in the Rare Earth Application Industrial Park in Baotou, Inner Mongolia, and is set to be listed on January 3, 2025 [1] - The company's main business involves the research, production, and sales of high-performance rare earth permanent magnetic materials, including sintered NdFeB and sintered SmCo [1] - The revenue composition includes: sintered NdFeB (46.99%), finished products of sintered NdFeB (36.59%), blanks of sintered NdFeB (10.39%), others (5.02%), sintered SmCo (0.51%), blanks of sintered SmCo (0.27%), and finished products of sintered SmCo (0.23%) [1] Financial Performance - As of September 30, the number of shareholders for Tianhe Magnetic Materials was 39,700, a decrease of 27.77% from the previous period, while the average circulating shares per person increased by 41.29% to 1,662 shares [2] - For the period from January to September 2025, the company reported a revenue of 1.61 billion yuan, a year-on-year decrease of 16.86%, while the net profit attributable to shareholders increased by 12.46% to 120 million yuan [2] Dividend and Institutional Holdings - Since its A-share listing, Tianhe Magnetic Materials has distributed a total of 39.64 million yuan in dividends [3] - As of September 30, 2025, the largest circulating shareholder was the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares from the previous period [3] - Other notable institutional holdings include the Southern CSI 1000 ETF and the Huaxia CSI 1000 ETF, with varying changes in their respective holdings [3]

Core Insights - Tianhe Magnetic Materials experienced a slight increase of 0.04% in stock price on November 5, with a trading volume of 81.29 million yuan [1] - The company reported a total revenue of 1.61 billion yuan for the first nine months of 2025, a year-on-year decrease of 16.86%, while net profit attributable to shareholders increased by 12.46% to 120 million yuan [2] Financing and Trading Data - On November 5, Tianhe Magnetic Materials had a financing buy amount of 6.23 million yuan and a financing repayment of 6.31 million yuan, resulting in a net financing buy of -84,500 yuan [1] - The total margin trading balance as of November 5 was 199 million yuan, with the financing balance accounting for 6.34% of the circulating market value [1] - The company had a margin balance of 525,400 yuan with a short selling volume of 600 shares on the same day [1] Shareholder and Institutional Holdings - As of September 30, the number of shareholders decreased by 27.77% to 39,700, while the average circulating shares per person increased by 41.29% to 1,662 shares [2] - The largest circulating shareholder is the Harvest CSI Rare Earth Industry ETF, holding 850,500 shares, an increase of 446,800 shares compared to the previous period [3] - Other notable institutional holdings include the Southern CSI 1000 ETF and the Huaxia CSI 1000 ETF, with varying changes in their respective holdings [3] Company Overview - Tianhe Magnetic Materials, established on May 22, 2008, specializes in the research, production, and sales of high-performance rare earth permanent magnetic materials, including sintered NdFeB and sintered SmCo [1] - The revenue composition includes 46.99% from sintered NdFeB, with other contributions from various forms of NdFeB and SmCo materials [1]

Core Viewpoint - Zhongke Sanhuan is a leading global supplier of rare earth permanent magnets, with significant production capacity and a focus on high-end applications in various industries [1][6]. Group 1: Company Overview - Zhongke Sanhuan was established on July 23, 1999, and listed on the Shenzhen Stock Exchange on April 20, 2000, with its headquarters in Beijing [1]. - The company specializes in the research, development, production, and sales of rare earth permanent magnets and new magnetic materials [1]. Group 2: Financial Performance - As of Q3 2025, Zhongke Sanhuan reported a revenue of 4.85 billion yuan, ranking third in the industry [2]. - The company's net profit for the same period was 108 million yuan, placing it tenth in the industry [2]. - The main business segment, magnetic material sales, accounted for 2.78 billion yuan, representing 95.18% of total revenue [2]. Group 3: Financial Ratios - The asset-liability ratio for Q3 2025 was 29.37%, an increase from 25.50% year-on-year, but still below the industry average of 33.39% [3]. - The gross profit margin was 11.01%, slightly up from 10.50% year-on-year, but lower than the industry average of 24.35% [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 2.07% to 118,600 [5]. - The average number of circulating A-shares held per shareholder increased by 2.11% to 10,300 [5]. Group 5: Executive Compensation - The chairman, Zhao Yinpeng, received a salary of 1.98 million yuan in 2024, a decrease of 122,300 yuan from 2023 [4]. Group 6: Market Outlook - Analysts from Galaxy Securities and Guosheng Securities project a positive outlook for Zhongke Sanhuan, with expected net profits for 2025-2027 of 1.74 billion, 2.50 billion, and 3.27 billion yuan, respectively [6]. - The anticipated growth is supported by emerging demands in robotics and low-altitude aircraft, which could contribute to long-term growth in the magnetic materials industry [6].