多领域驱动业绩增长 在高温合金领域，受益于燃气轮机等需求增长，且公司技术改造项目释放产能，产品增长明显。半导体 领域，AI和算力芯片爆发式增长，拉动了半导体用钽靶材等市场需求，公司在相关产品实现全流程技 术突破和产业贯通。电容器领域，消费电子市场复苏带动钽电容器需求回升。超导领域，国家大科学研 究装置发展使超导铌材等需求增加，公司年产100支超导腔扩能改造项目投产，产能进一步释放。 8月26日至27日，宁夏东方钽业股份有限公司通过电话会议形式，接受了华源证券等超70家机构的调 研。公司副总经理兼董秘秦宏武、总法律顾问王宏等相关人员参与接待，就公司经营业绩、业绩增长领 域、募投项目、原料供应、定增方案及现金分红等方面与投资者进行了交流。 经营业绩稳步增长 2025上半年，宁夏东方钽业经营业绩继续稳步增长。上半年营业收入为7.97亿元，同比增长34.45%；归 母净利润为1.45亿元，同比增长29.08%。截至2025年6月末，公司资产总额33.61亿元，同比增长9.8%， 国内销售收入5.16亿元，同比增长33.65%。公司在市场开拓、科技创新等多方面持续发力，为高质量发 展积蓄动能。 责任编辑：小浪快报 原料 ...

证券代码：000962 证券简称：东方钽业 宁夏东方钽业股份有限公司 投资者活动记录表 编号：2025-018 | 投资者关 | □特定对象调研 | □ | 分析师会议 | | | | | --- | --- | --- | --- | --- | --- | --- | | 系活动类 | □ | 媒体采访 | □ | 业绩说明会 | | | | 别 | | | | | | | | □ | 新闻发布会 | □ | 路演活动 | | | | | □ | 现场参观 | 电话会议 | ☑ | | | | | □ | 其他 | （请文字说明其他活动内容） | | | | | | 参与单位 | 2025 | 年 | 8 | 月 | 26 | 日：华源证券：张明磊、陈婉妤、方皓；深圳山石基金管理有 | | 名称及人 | 限公司：张骊；上海洪毅私募基金管理有限公司：羿世海；上海杭贵投资管理 | | | | | | | 员姓名 | 有限公司：饶欣莹；华安证券：邓军；上海途灵资产管理有限公司：赵梓峰； | | | | | | | 中国太保投资管理（香港）有限公司：魏巍；深圳市尚诚资产管理有限责任公 | | | | | | | ...

（本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） （文章来源：21世纪经济报道） 稀有金属ETF（562800）紧密跟踪中证稀有金属主题指数，该指数选取归属于稀有金属行业的上市公司 股票作为成分股，以反映稀有金属行业上市公司整体表现。该ETF还配备了场外联接基金（A类： 014110/C类：014111）。 消息面上，"可控核聚变"概念近期走高，相关稀有金属材料的关联性受关注。例如，近日东方钽业在互 动平台回答表示，公司生产的辐照监督管用高纯铌箔已成功应用于核电领域，实现国内首次零突破。公 司生产的超导铌材可用于生产铌钛（Nb-Ti）和铌锡（Nb3Sn）等合金材料，这些合金材料是制造超导 磁体的关键材料，用于产生强磁场来约束等离子体。 中信证券指出，短期投资驱动，建议围绕聚变产业链关键材料及装置环节布局。目前全球范围内的聚变 研究主要集中在磁约束聚变和惯性约束聚变两种主要的技术路径上，托卡马克装置被视为实现磁约束核 聚变反应的最佳解决方案。紧凑型托卡马克装置的主要构成部分包括超导磁体、第一壁、真空容器、阀 门、冷却系统、偏滤器等。据ITER建设成本拆分，磁体、 ...

Group 1: Industry Outlook - The tantalum and niobium industry is expected to grow due to the expanding semiconductor and consumer electronics markets, providing significant development space for target materials [3] - The demand for tantalum and niobium targets is anticipated to increase rapidly, driven by market needs and domestic substitution [3] - Emerging applications in high-frequency communication technology and large scientific projects are likely to boost market demand [3] Group 2: Market Expansion Strategies - The company is actively exploring niche markets, particularly in tantalum powder and wire, and is increasing efforts in the recovering tantalum target market [4] - Focus on new fields such as high-temperature alloys and semiconductors to enhance production capabilities of tantalum and superconducting niobium materials [4] - Domestic market revenue grew by 29.17%, increasing its share to 64.27%, indicating significant market expansion success [4] Group 3: Profit Distribution and Shareholder Returns - The company distributed a cash dividend of 0.55 CNY per 10 shares in the first three quarters of 2024, totaling 27.77 million CNY [4] - The proposed dividend for the full year is 0.77 CNY per 10 shares, amounting to 38.88 million CNY, with total dividends reaching 66.65 million CNY, representing 31.26% of the net profit attributable to shareholders [4] Group 4: Raw Material Price Management - The company mitigates raw material price fluctuations by establishing long-term supplier relationships and locking in prices through contracts [5] - Market monitoring and analysis are conducted to anticipate price trends, allowing for strategic procurement [5] - Production processes are optimized to improve raw material utilization and reduce consumption per product [5] Group 5: Brand Development Initiatives - Continuous improvement in product quality has established "Baoshan" tantalum powder and wire as renowned products in China [6][7] - The company actively participates in setting industry standards, enhancing its influence within the sector [7] - Participation in domestic and international exhibitions showcases product and technological strengths, boosting brand recognition [7] Group 6: Research and Development Incentives - A comprehensive incentive mechanism is in place to reward teams and individuals for significant research achievements [7] - Opportunities for career advancement and training are provided to research personnel, fostering innovation [7] - The company encourages a culture of innovation, allowing for calculated risks in research projects [7]

Investment Rating - The report does not explicitly state an investment rating for the small metals industry or the specific company, Dongfang Tantalum Industry [1]. Core Insights - The company is focusing on research and innovation to enhance its core competitiveness, particularly in response to the growing semiconductor and consumer electronics markets, which provide significant opportunities for tantalum and niobium targets [17][18]. - The company has made substantial progress in producing high-purity tantalum targets for semiconductor manufacturing, filling a gap in the domestic market and reducing reliance on imports [18]. - The company is actively managing its market value by emphasizing quality development and transparency to investors, which is seen as essential for long-term stability [19]. Summary by Sections 1. Basic Research Information - The research was conducted on Dongfang Tantalum Industry, which operates in the small metals sector, on March 11, 2025 [13]. 2. Detailed Research Institutions - The research involved institutions such as Minsheng Securities, China Merchants Fund, and People’s Insurance Pension [14]. 3. Research Institution Proportions - The report does not provide specific data on the proportions of research institutions involved [16]. 4. Main Content Information - The company is closely monitoring national policies and market trends, focusing on R&D and technological upgrades to enhance competitiveness [17]. - The company’s semiconductor products include large-size high-purity tantalum targets, which are crucial for semiconductor chip manufacturing [18]. - The company is advancing its capabilities in the semiconductor field, with significant growth in sales of ultra-high-purity tantalum powder, addressing a critical need in the industry [18]. - The company is investing in projects to modernize production lines and improve logistics, which will enhance product supply in the semiconductor sector [19]. - The company is aware of foreign exchange risks due to its international sales and procurement, implementing a monitoring mechanism to mitigate these risks [19]. - Niobium is highlighted for its applications in superconducting technologies, particularly in particle accelerators, contributing to national scientific projects [20].

Group 1: Company Overview and Market Position - Ningxia Dongfang Tantalum Industry Co., Ltd. focuses on R&D and innovation to enhance core competitiveness in the semiconductor and consumer electronics markets [2][3] - The company produces tantalum and niobium targets, which are essential for semiconductor sputtering and flat panel display materials, benefiting from rapid industry growth and domestic substitution trends [3][4] Group 2: Product Development and Technological Advancements - The company has seen a "leap" in sales of ultra-high purity metallurgical-grade tantalum powder, filling a national gap and reducing reliance on imports for integrated circuit materials [4] - Ongoing projects include the development and certification of 12-inch tantalum target blanks, which have completed testing and are now in mass production, creating new economic growth points [4] Group 3: Market Management and Investor Relations - The company emphasizes high-quality development as the foundation for market value management, focusing on core business and enhancing internal value [5] - Various channels, including information disclosure and investor meetings, are utilized to improve transparency and protect investor rights, fostering a multi-layered interaction mechanism [5] Group 4: Currency Risk Management - The company monitors international currency fluctuations closely, as some product sales and raw material purchases are settled in foreign currencies, implementing a comprehensive foreign exchange risk warning system [6] Group 5: Applications of Niobium - Niobium is crucial in low-temperature superconductivity, with applications in next-generation particle accelerators, contributing to national scientific projects [7] - The company has developed and exported superconducting niobium materials and RF superconducting niobium cavities, positioning China as a self-sufficient producer in this field [7]