来源：市场资讯 （来源：矿业俱乐部） 镉0#28600-29600元/吨0铬99A81100-84600元/吨0碲741-751元/千克 0 铼28100-32600 元/千克0 锑0#锑锭171100-174100元/吨100002#高铋163100-166100元/吨10000镁99.9%上 海17005-17105元/吨 0 铌≥99.9%665-675元/千克0钒≥99.5%1461-1561元/千克0电解锰广西 13400-13600元/吨 0金属锂≥99%575100-610100元/吨0金属砷6705-7205 元/吨0海绵钛≥97-98%45-46元/千克0海绵锆≥99% 166-171元/千克0 1631-1681元/吨碳酸稀土44305-44705元/吨红土镍矿 1.8%（FOB） 72-75美元/湿吨 非金属报价 产品名称 矿产品报价品名规格产地涨跌铜精矿18-20%74012-77769元/金属吨铅精矿50%河南16650-16800元/金属 吨云南16750-16900元/金属吨锌精矿50%云南 18604-18704元/金属吨 湖南18554-18654元/金属吨钼精矿45%367 ...

本次冲击上市，盛龙股份拟募集资金约15.3亿元，扣除发行费用后，将按轻重缓急顺序投资于河南省嵩 县安沟钼多金属矿采选工程项目、矿业技术研发中心项目、补充流动资金及偿还银行贷款项目。 在首轮审核问询函中，盛龙股份行业及业务模式、历史沿革、资产重组及同业竞争等16个问题遭到追 问。 北京商报讯（记者 马换换 李佳雪）11月17日晚间，深交所官网显示，洛阳盛龙矿业集团股份有限公司 （以下简称"盛龙股份"）主板IPO对外披露了首轮审核问询函回复。 据了解，盛龙股份致力于有色金属矿产资源的综合开发利用，主要从事重要战略资源钼相关产品的生 产、加工、销售业务，主要产品为钼精矿和钼铁。公司IPO于2025年5月21日获得受理，当年6月8日进 入问询阶段。 ...

2025年上半年，盛龙股份实现营业收入约为22.89亿元；对应实现归属净利润约为6.04亿元。从往期财务 数据来看，2022—2024年，公司实现营业收入分别约为19.11亿元、19.57亿元、28.64亿元；对应实现归 属净利润分别约为3.44亿元、6.19亿元、7.57亿元。 本次冲击上市，盛龙股份拟募集资金约15.3亿元，扣除发行费用后，将按轻重缓急顺序投资于河南省嵩 县安沟钼多金属矿采选工程项目、矿业技术研发中心项目、补充流动资金及偿还银行贷款项目。 北京商报讯（记者 马换换 王蔓蕾）近日，深交所官网显示，洛阳盛龙矿业集团股份有限公司（以下简 称"盛龙股份"）主板IPO更新披露了招股书，其中最新披露了2025年上半年财务资料。 据了解，盛龙股份致力于有色金属矿产资源的综合开发利用，主要从事重要战略资源钼相关产品的生 产、加工、销售业务，主要产品为钼精矿和钼铁。公司IPO于2025年5月21日获得受理，当年6月8日进 入问询阶段。 ...

近期，国城矿业（000688.SZ）因重大资产重组事项引发市场关注，公司股价在多个交易日出现大幅拉 升。自11月10日复牌以来，该公司股价连续两个交易日涨停，随后虽有小幅回调，但整体仍呈上行态 势。 11月12日，国城矿业发布股票交易异常波动公告称，公司股票在11月10日、11月11日连续两个交易日收 盘价格涨幅偏离值累计超过20%，达到异常波动标准。 国城矿业方面表示，公司不存在应披露而未披露的重大信息，日常经营情况正常，内外部经营环境未发 生重大变化。 此次股价异动前的11月7日，国城矿业披露重大资产交易方案，拟以现金支付方式收购控股股东国城集 团持有的内蒙古国城实业有限公司（以下简称"国城实业"）60%股权，交易对价31.68亿元，构成重大资 产重组。 公开资料显示，国城实业成立于2005年，注册资金10.5亿元，主营业务为有色金属采选，目前在产矿山 为内蒙古卓资县大苏计钼矿。目前，该矿山正在办理采矿权变更手续，拟将生产规模由500万吨/年扩大 至800万吨/年。 国城矿业在公告中表示，本次交易完成后，其将在锌精矿、铅精矿、铜精矿等基础上，增加钼精矿采选 业务，进一步丰富产品结构，增强资源储备与综合竞争 ...

Core Viewpoint - The acquisition of a 60% stake in Guocheng Shiye by Guocheng Mining for 3.168 billion yuan is a significant asset restructuring that aims to enhance the company's product structure and profitability through the addition of molybdenum mining operations [1][2]. Group 1: Acquisition Details - Guocheng Mining plans to acquire 60% of Guocheng Shiye from its controlling shareholder, Guocheng Group, for 3.168 billion yuan, marking a major asset restructuring [1]. - The transaction fulfills a prior commitment by Guocheng Group to inject quality assets into the listed company [1]. Group 2: Financial Impact - Following the acquisition, Guocheng Shiye will become a subsidiary of Guocheng Mining, which will diversify its product offerings by adding molybdenum mining to its existing zinc, lead, and copper operations [1]. - Guocheng Shiye's core asset, the Dazhu Molybdenum Mine, has significant resources with a total ore volume of 124 million tons and a molybdenum metal quantity of 144,800 tons, with an average grade of 0.117% [2]. - Guocheng Shiye is expected to generate revenues of 2.185 billion yuan and a net profit of 942 million yuan in 2024, with a projected revenue of 1.074 billion yuan and a net profit of 435 million yuan for the first half of 2025 [2]. Group 3: Operational Improvements - The acquisition is anticipated to improve Guocheng Mining's financial performance, with a forecasted turnaround to profitability in 2024, achieving a net profit of 766 million yuan in the first half of 2025 [3]. - Guocheng Mining has applied for a merger loan of 1.9008 billion yuan from Harbin Bank to finance the acquisition, with a loan term of 84 months [3].

Core Viewpoint - The acquisition of 60% stake in Guocheng Industrial by Guocheng Mining for 3.168 billion yuan marks a significant step in a 13-year-long commitment from its major shareholder, Guocheng Holdings, despite ongoing market skepticism about the deal's valuation and financial implications [1][2][5]. Group 1: Acquisition Details - Guocheng Mining plans to pay 3.168 billion yuan in cash to acquire a 60% stake in Guocheng Industrial, which has a valuation increase of 156.40% [2][12]. - The acquisition is characterized as a "snake swallowing an elephant" type of deal, indicating that Guocheng Industrial's financial performance is significantly better than that of Guocheng Mining [6][8]. - Guocheng Industrial's projected revenue for 2025 is 10.74 billion yuan, with a net profit of 4.35 billion yuan, which surpasses Guocheng Mining's corresponding figures [6][9]. Group 2: Financial Implications - Guocheng Mining's financial situation is under pressure, with a cash requirement of 3.168 billion yuan for the acquisition, leading to concerns about its ability to finance the deal [3][13]. - As of September 2025, Guocheng Mining's cash reserves were 1.192 billion yuan against interest-bearing liabilities of 2.245 billion yuan, indicating a significant financial strain [13]. - Guocheng Holdings aims to use the proceeds from the sale to reduce its debt to Harbin Bank by approximately 3.024 billion yuan, alleviating some of its financial burdens [12][11]. Group 3: Historical Context - The commitment to inject quality assets into Guocheng Mining has been ongoing since 2012, with various delays and challenges faced over the years [5][6]. - The initial promise of asset injection was made by Jianxin Group when it became the controlling shareholder of the predecessor company, Chaohua Group, which has since undergone several changes [5][6]. - The acquisition process has been prolonged due to financial crises and operational challenges faced by both Guocheng Mining and Guocheng Industrial [5][6][10]. Group 4: Future Outlook - The transaction is expected to significantly improve Guocheng Mining's operational performance if the acquisition is successful, with a commitment from Guocheng Holdings to ensure a minimum net profit of 1.725 billion yuan from Guocheng Industrial over the next three years [10][11]. - However, the cyclical nature of mineral resources raises uncertainties about the sustainability of Guocheng Industrial's profitability [15].

Core Viewpoint - Guocheng Mining (000688.SZ) has announced a significant asset acquisition, intending to purchase 60% equity of Guocheng Industry from Guocheng Group for approximately 316.8 million yuan, which reflects a substantial increase in asset value [1][2]. Transaction Details - The transaction involves a cash purchase, with the company planning to finance 60% of the payment through a bank acquisition loan from Harbin Bank Chengdu Branch [2][3]. - The total assessed value of the 100% equity of Guocheng Industry is 567,021.68 million yuan, with a 156.40% appreciation rate [2][3]. - After accounting for cash dividends of 39 million yuan, the adjusted value for the 60% equity is 316,813.01 million yuan, leading to a final transaction price of 316,800.00 million yuan [1][2]. Financial Impact - The company's debt-to-asset ratio is projected to rise significantly from 57.06% to 82.03% post-transaction, primarily due to the acquisition financing [3]. - The transaction will reduce the company's net assets by 207,510.32 million yuan, affecting its financial stability [3]. Related Transactions - The transaction is classified as a related party transaction since Guocheng Group is the controlling shareholder of Guocheng Mining [4]. - It is also categorized as a major asset restructuring, although it does not constitute a reverse listing [5]. Company Performance - Guocheng Industry has experienced a decline in revenue and net profit, with 2024 revenue down 16.33% and net profit down 34.95% compared to the previous year [6]. - The company's revenue for 2023, 2024, and the first half of 2025 were 261,189.53 million yuan, 218,534.11 million yuan, and 107,443.43 million yuan, respectively [6][7]. Future Commitments - Guocheng Group and its actual controller, Wu Cheng, have committed to ensuring that the net profit of the mining rights assets meets specific targets over the next three years following the acquisition [10]. - The acquisition aims to enhance the company's product structure by adding molybdenum concentrate mining to its existing portfolio of non-ferrous metals [10].

Core Viewpoint - The news highlights the performance of the Nonferrous Metal ETF (159652) and its underlying index components, indicating a mixed performance among major stocks, with some experiencing significant gains while others faced declines [1][2]. Group 1: ETF Performance - The Nonferrous Metal ETF (159652) closed at 1.523, with a slight increase of 0.66% [1]. - The ETF's trading volume was 524,900, with a turnover rate of 2.83% [1]. - The ETF's net asset value (NAV) was reported at 1.5152, with a premium/discount rate of 0.51% [1]. Group 2: Component Stocks - Major stocks such as Guocheng Mining and Ganfeng Lithium saw significant increases, with Guocheng Mining hitting the daily limit [2]. - The stock of China Aluminum and Shandong Gold also rose by over 2% [2]. - In contrast, stocks like Northern Rare Earth and Huayou Cobalt experienced declines [2]. Group 3: Market Sentiment and Economic Indicators - The Federal Reserve's recent statements indicate a shift in interest rate expectations, with a decrease in the likelihood of rate cuts in December and January [3]. - The market is awaiting a liquidity turning point, which could impact precious metal prices positively in the future [4]. Group 4: Industrial Metal Insights - The supply side for industrial metals remains tight, with ongoing disruptions in copper mining affecting prices positively [5]. - The aluminum market is expected to enter an upward cycle due to a projected shortage, with recent price increases noted [5]. Group 5: Investment Opportunities - The Nonferrous Metal ETF (159652) is highlighted as a leading investment option due to its high "gold and copper content" and concentration in strategic metals [6]. - The ETF's index has shown a cumulative return of 131% since 2022, driven by earnings rather than valuation expansion [8].

Core Viewpoint - Guocheng Mining's stock price surged by 9.99% to 20.92 yuan following the announcement of a significant asset restructuring through the acquisition of a 60% stake in Inner Mongolia Guocheng Industry for 3.168 billion yuan [1] Group 1: Company Actions - Guocheng Mining plans to acquire a 60% stake in Inner Mongolia Guocheng Industry from its controlling shareholder, Guocheng Holdings Group [1] - The transaction is valued at 3.168 billion yuan and is classified as a major asset restructuring [1] - Upon completion of the transaction, Inner Mongolia Guocheng Industry will become a subsidiary of Guocheng Mining, enhancing its strategic positioning in high-quality molybdenum resources [1] Group 2: Strategic Implications - The acquisition will diversify Guocheng Mining's product offerings by adding molybdenum concentrate mining to its existing portfolio, which includes zinc, lead, and copper concentrates [1] - This strategic move is expected to improve the company's profitability and strengthen its resource reserves, thereby enhancing its risk resistance capabilities [1]

Group 1: Tungsten Market - Black tungsten concentrate price increased by 12.23% to 312,000 CNY/ton, and ammonium paratungstate price rose by 13.30% to 460,000 CNY/ton [1][3] - Supply side shows a reduction in tungsten concentrate mining indicators, with mines generally slowing production pace, leading to tighter industry circulation [1][3] - Domestic demand remains stable, primarily driven by essential procurement, with recent APT procurement prices for early November rising by 52,000 CNY/ton, boosting market bullish sentiment [1][3] Group 2: Rare Earth Market - Rare earth supply and demand are both weak, with praseodymium-neodymium oxide rising by 10.49% to 553,000 CNY/ton, while dysprosium oxide increased by 1.63% to 1,560,000 CNY/ton [2] - The Chinese Ministry of Commerce announced new export controls on rare earth items and technologies, targeting violations of existing measures [2] - Supply side sees some production companies controlling output due to cost pressures, while demand from downstream magnetic material companies remains low [2] Group 3: Molybdenum Market - Molybdenum concentrate price decreased by 9.78% to 3,965 CNY/ton, and molybdenum iron price fell by 7.62% to 254,500 CNY/ton [2] - Supply side indicates signs of shrinking molybdenum concentrate, while demand from steel procurement is increasing but facing price pressure from steel mills [2] Group 4: Tin Market - Tin prices are experiencing a weak supply-demand balance, with SHFE tin down by 0.28% to 283,500 CNY/ton and LME tin up by 0.35% to 36,100 USD/ton [3] - Supply side affected by low operating rates of refining tin smelting enterprises due to raw material shortages from Myanmar [3] - High tin prices are leading to low replenishment willingness in the electronics and home appliance sectors, with downstream manufacturers primarily engaging in essential procurement [3] Group 5: Antimony Market - Antimony ingot price decreased by 6.27% to 149,500 CNY/ton, and antimony concentrate price fell by 7.07% to 131,500 CNY/ton [4] - Supply side sees tight domestic antimony raw materials due to a halt in overseas mines entering the domestic market, coupled with weak smelting profitability [4] - Demand remains focused on essential procurement, with strong demand in the photovoltaic sector, while short-term export demand is under pressure [4] Group 6: Nuclear Fusion New Materials - The commercialization of controlled nuclear fusion is accelerating, with upstream materials expected to benefit significantly [5] - Domestic advancements include breakthroughs in the localization of second-generation high-temperature superconducting strips [5] - Internationally, significant investments and reports on fusion research are emerging, indicating a growing interest in the sector [5]