11月26日，兴业银锡盘中上涨2.04%，截至10:29，报32.00元/股，成交5.06亿元，换手率0.90%，总市值 568.20亿元。 分红方面，兴业银锡A股上市后累计派现4.23亿元。近三年，累计派现2.75亿元。 今年以来兴业银锡已经2次登上龙虎榜，最近一次登上龙虎榜为10月14日，当日龙虎榜净买入-2.29亿 元；买入总计5.50亿元 ，占总成交额比10.39%；卖出总计7.78亿元 ，占总成交额比14.72%。 资料显示，内蒙古兴业银锡矿业股份有限公司位于内蒙古自治区赤峰市新城区玉龙大街76号兴业大厦， 成立日期1996年8月23日，上市日期1996年8月28日，公司主营业务涉及有色金属、黑色金属资源的采掘 和冶炼。主营业务收入构成为：矿产银34.80%，矿产锡30.81%，矿产锌19.32%，矿产铅5.12%，矿产铁 3.34%，矿产锑2.90%，矿产铜2.01%，其他(补充)0.72%，矿产金0.66%，矿产铋0.32%。 责任编辑：小浪快报 兴业银锡所属申万行业为：有色金属-工业金属-铅锌。所属概念板块包括：黄金股、有色铜、钴镍、小 金属、MSCI中国等。 截至11月10日，兴业银锡股东户 ...

11月25日，兴业银锡涨5.14%，截至发稿，报31.69元/股，成交7.73亿元，换手率1.39%，总市值562.70 亿元。 资料显示，内蒙古兴业银锡矿业股份有限公司位于内蒙古自治区赤峰市新城区玉龙大街76号兴业大厦， 成立日期1996年8月23日，上市日期1996年8月28日，公司主营业务涉及有色金属、黑色金属资源的采掘 和冶炼。主营业务收入构成为：矿产银34.80%，矿产锡30.81%，矿产锌19.32%，矿产铅5.12%，矿产铁 3.34%，矿产锑2.90%，矿产铜2.01%，其他(补充)0.72%，矿产金0.66%，矿产铋0.32%。 从基金十大重仓股角度 数据显示，长安基金旗下1只基金重仓兴业银锡。长安鑫富领先混合A（001657）三季度持有股数1600 股，占基金净值比例为0.82%，位居第五大重仓股。根据测算，今日浮盈赚取约2480元。 长安鑫富领先混合A（001657）成立日期2017年2月22日，最新规模226.17万。今年以来收益2.13%，同 类排名7326/8136；近一年收益5.36%，同类排名6696/8058；成立以来收益86.7%。 长安鑫富领先混合A（001657）基金经 ...

Core Viewpoint - The stock of Inner Mongolia Xingye Silver Tin Mining Co., Ltd. has shown significant volatility, with a year-to-date increase of 162.81%, but a recent decline in the last five and twenty trading days [1][2]. Company Overview - Inner Mongolia Xingye Silver Tin Mining Co., Ltd. was established on August 23, 1996, and listed on August 28, 1996. The company is primarily engaged in the mining and smelting of non-ferrous and ferrous metal resources [2]. - The main revenue sources are: silver (34.80%), tin (30.81%), zinc (19.32%), lead (5.12%), iron (3.34%), antimony (2.90%), copper (2.01%), and others [2]. Financial Performance - For the period from January to September 2025, the company achieved a revenue of 4.099 billion yuan, representing a year-on-year growth of 24.36%. The net profit attributable to shareholders was 1.364 billion yuan, with a year-on-year increase of 4.94% [2]. - The company has distributed a total of 423 million yuan in dividends since its A-share listing, with 275 million yuan distributed over the past three years [3]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 5.29% to 106,000, with an average of 16,745 circulating shares per person, a decrease of 5.02% [2][3]. - The top circulating shareholder is Hong Kong Central Clearing Limited, holding 55.1068 million shares, an increase of 26.2819 million shares from the previous period [3].

Group 1 - The core point of the news is that Xingye Silver Tin experienced a decline of 5.03% in its stock price, reaching 28.33 yuan per share, with a trading volume of 1.225 billion yuan and a turnover rate of 2.38%, resulting in a total market capitalization of 50.304 billion yuan [1] - Xingye Silver Tin Mining Co., Ltd. is located in Chifeng City, Inner Mongolia, and was established on August 23, 1996, with its listing date on August 28, 1996. The company primarily engages in the mining and smelting of non-ferrous and ferrous metal resources [1] - The revenue composition of Xingye Silver Tin includes: silver 34.80%, tin 30.81%, zinc 19.32%, lead 5.12%, iron 3.34%, antimony 2.90%, copper 2.01%, others 0.72%, gold 0.66%, and bismuth 0.32% [1] Group 2 - From the perspective of fund holdings, one fund under Jiahe Fund has a significant position in Xingye Silver Tin. Jiahe Jinpeng Tieli Mixed A (008905) reduced its holdings by 500,000 shares in the third quarter, now holding 300,000 shares, which accounts for 2.5% of the fund's net value, ranking as the seventh largest holding [2] - The estimated floating loss for Jiahe Jinpeng Tieli Mixed A (008905) today is approximately 450,000 yuan. The fund was established on April 29, 2020, with a current scale of 173 million yuan, and has achieved a year-to-date return of 17.51%, ranking 4825 out of 8150 in its category [2]

Investment Rating - The report maintains a "Recommended" rating for the company [6][8]. Core Insights - The company's performance in the first three quarters of 2025 met expectations, with revenue reaching 4.099 billion yuan, a year-on-year increase of 24.36%, and net profit attributable to shareholders at 1.364 billion yuan, up 4.94% year-on-year [3]. - The company has significant silver reserves, ranking first in Asia and eighth globally, following the acquisition of Yubang Mining, which increased silver reserves to 24,537 tons [5]. - The company is progressing with the construction of the Yinman Phase II project, which is expected to enhance production capacity significantly [5]. - The successful acquisition of Atlantic Tin Industry is expected to strengthen the company's market position and operational stability [5]. Summary by Sections Financial Performance - In Q3 2025, the company achieved revenue of 1.626 billion yuan, a year-on-year increase of 48.09%, and net profit of 568 million yuan, up 36.49% year-on-year [3]. - The average price of silver in Q3 was 9.4 yuan per gram, a year-on-year increase of 26% [4]. - The company's total assets reached 17.513 billion yuan, a growth of 43.96% from the beginning of the year [4]. Production and Operations - The company produced 5,651 tons of tin and 212 tons of silver in the first three quarters, with tin production down 13.12% year-on-year and silver production up 18.98% [4]. - The company’s gross profit margin for Q3 was 58.79%, showing a slight improvement from the previous quarter [4]. Future Projections - The company is projected to achieve net profits of 2.018 billion yuan, 2.607 billion yuan, and 3.093 billion yuan for 2025, 2026, and 2027, respectively, with corresponding PE ratios of 27, 21, and 18 [6][7].

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first three quarters of 2025, driven by increased sales and acquisitions, despite some fluctuations in mineral production volumes [10][11][12]. Financial Data - The company achieved operating revenue of 4,099.43 million yuan, a 24.36% increase compared to the same period last year [10]. - The net profit attributable to shareholders was 1,364.08 million yuan, reflecting a 4.94% increase year-on-year [10]. - Total assets reached 17,513.39 million yuan, with net assets attributable to shareholders at 9,158.37 million yuan [10]. Mineral Production - The company produced 5,651.48 tons of tin, a decrease of 13.12% year-on-year [11]. - Silver production increased by 18.98% to 212.16 tons [11]. - Zinc production rose by 1.92% to 45,783.81 tons, while lead production increased by 2.61% to 13,991.67 tons [11][12]. - Copper and antimony production saw declines of 18.83% and 9.83%, respectively [11][12]. Revenue Composition - Revenue from tin amounted to 1,354.44 million yuan, accounting for 33.04% of total revenue [13]. - Silver revenue was 1,489.18 million yuan, representing 36.33% of total revenue [13]. - Combined, revenue from tin and silver constituted 69.37% of the company's total operating revenue [13]. Corporate Restructuring - The controlling shareholder, Inner Mongolia Xingye Gold Smelting Group, underwent a restructuring process initiated in 2019 due to financial difficulties [14]. - The restructuring plan was approved by the court in August 2022, and the process was confirmed completed by the court in September 2025 [15].

Group 1 - The core viewpoint of the news is the performance and market position of Inner Mongolia Xingye Silver Tin Mining Co., Ltd, which saw a stock price increase of 5.11% to 31.05 CNY per share, with a total market capitalization of 55.133 billion CNY [1] - The company was established on August 23, 1996, and listed on August 28, 1996, focusing on the mining and smelting of non-ferrous and ferrous metal resources [1] - The main revenue composition of the company includes silver (34.80%), tin (30.81%), zinc (19.32%), lead (5.12%), iron (3.34%), antimony (2.90%), copper (2.01%), gold (0.66%), bismuth (0.32%), and other minerals (0.72%) [1] Group 2 - From the perspective of fund holdings, Guotou Ruijin Fund has a significant position in Xingye Silver Tin, with its Guotou Ruijin Zhaocai Mixed A Fund holding 45,800 shares, representing 3.26% of the fund's net value [2] - The fund has achieved a year-to-date return of 18.85%, ranking 4662 out of 8155 in its category, and a one-year return of 17.04%, ranking 4467 out of 8031 [2] - The fund manager, He Mingzhi, has been in position for 3 years and 47 days, with the best fund return during his tenure being 21.99% and the worst being 8.41% [3]

Group 1 - The core point of the news is the decline in the stock price of Inner Mongolia Xingye Silver Tin Mining Co., Ltd., which fell by 5.03% to 33.21 CNY per share, with a trading volume of 2.079 billion CNY and a turnover rate of 3.45%, resulting in a total market capitalization of 58.969 billion CNY [1] - The company was established on August 23, 1996, and listed on August 28, 1996, focusing on the mining and smelting of non-ferrous and ferrous metal resources [1] - The main business revenue composition includes: silver mining 34.80%, tin mining 30.81%, zinc mining 19.32%, lead mining 5.12%, iron mining 3.34%, antimony mining 2.90%, copper mining 2.01%, others 0.72%, gold mining 0.66%, and bismuth mining 0.32% [1] Group 2 - From the perspective of the top ten circulating shareholders, Southern Fund's Southern CSI 500 ETF (510500) increased its holdings by 2.4763 million shares in the second quarter, holding a total of 18.4623 million shares, which accounts for 1.04% of the circulating shares [2] - The estimated floating loss for the Southern CSI 500 ETF today is approximately 32.4936 million CNY [2] - The Southern CSI 500 ETF was established on February 6, 2013, with a latest scale of 113.438 billion CNY, and has achieved a year-to-date return of 27.41%, ranking 1733 out of 4220 in its category [2]

Group 1 - The core point of the news is that Xingye Silver Tin experienced a decline of 5.01% in its stock price, reaching 34.48 CNY per share, with a trading volume of 2.028 billion CNY and a turnover rate of 3.21%, resulting in a total market capitalization of 61.224 billion CNY [1] - Xingye Silver Tin Mining Co., Ltd. is located in Chifeng City, Inner Mongolia, and was established on August 23, 1996, with its listing date on August 28, 1996. The company primarily engages in the mining and smelting of non-ferrous and ferrous metal resources [1] - The main business revenue composition of Xingye Silver Tin includes: silver mining 34.80%, tin mining 30.81%, zinc mining 19.32%, lead mining 5.12%, iron mining 3.34%, antimony mining 2.90%, copper mining 2.01%, others 0.72%, gold mining 0.66%, and bismuth mining 0.32% [1] Group 2 - From the perspective of fund holdings, one fund under Qianhai Kaiyuan Fund has a significant position in Xingye Silver Tin. The Qianhai Kaiyuan Gold and Silver Jewelry Mixed A Fund (001302) held 9.8412 million shares in the second quarter, accounting for 8.07% of the fund's net value, ranking as the eighth largest holding [2] - The Qianhai Kaiyuan Gold and Silver Jewelry Mixed A Fund (001302) was established on July 9, 2015, with a current scale of 415 million CNY. Year-to-date, it has achieved a return of 89.11%, ranking 106 out of 8234 in its category; over the past year, it has returned 71.78%, ranking 292 out of 8083; and since inception, it has returned 158.7% [2] - The fund manager of Qianhai Kaiyuan Gold and Silver Jewelry Mixed A Fund is Wu Guoqing, who has been in the position for 10 years and 22 days. The total asset scale of the fund is 5.333 billion CNY, with the best return during his tenure being 416.86% and the worst being -29.94% [3]

Core Insights - The stock price of Xingye Silver Tin has increased by 5.03% to 38.00 CNY per share, with a total market capitalization of 67.474 billion CNY, and a cumulative increase of 33.31% over the past four days [1] Company Overview - Xingye Silver Tin Mining Co., Ltd. is located in Chifeng City, Inner Mongolia, and was established on August 23, 1996, with its listing date on August 28, 1996 [1] - The company's main business involves the mining and smelting of non-ferrous and ferrous metal resources, with revenue composition as follows: silver 34.80%, tin 30.81%, zinc 19.32%, lead 5.12%, iron 3.34%, antimony 2.90%, copper 2.01%, others 0.72%, gold 0.66%, and bismuth 0.32% [1] Fund Holdings - Zhongyou Fund has a significant holding in Xingye Silver Tin, with its fund "Zhongyou Core Advantage Flexible Allocation Mixed A" (590003) holding 2.62% of its net value in 2 million shares, ranking as the eighth largest holding [2] - The fund has realized a floating profit of approximately 3.64 million CNY today and 18.08 million CNY during the four-day increase [2] Fund Manager Performance - The fund manager Jiang Liwei has been in position for 4 years and 221 days, with a total asset size of 20.35 billion CNY and a best return of 37.56% during his tenure [3] - Co-manager Zhang Yiyan has been in position for 1 year and 280 days, managing assets of 12.06 billion CNY, achieving a best return of 41.77% during his tenure [3]