推动产品结构优化，抢滩重要增量市场。公司钽铌产品下游需求增长潜力大，随着高频通讯、智慧汽 车、高算力 AI 芯片、大科学工程、新基建等行业的发展，钽铌在电子、半导体、超导、特种钢等应用 领域的需求会呈现出长足的发展态势。近年来公司通过关键技术攻关和工艺流程改善，同时不断加大市 场开拓力度，2024 年公司在高温合金、半导体等领域产品增长较为明显。截至5 月7 日，中国五氧化二 钽价格为2175 元/千克，较年初价格上涨4.8%；五氧化二铌价格为465 元/千克，较年初价格上涨5.7%。 参股全国唯一的铍加工基地西材院。公司持有西材院28%股权，西材院主要从事金属铍及铍合金的科 研、生产和销售，产品广泛应用于航天航空、核工业等高新技术领域。西材院是全国唯一的铍材研究加 工基地，建有稀有金属特种材料国家重点实验室和稀有金属铍材行业重点实验室。2024 年西材院取得 净利润2.3 亿元。 公司业绩持续稳增。公司2024 年营收12.8 亿元，同增15.6%；归母净利2.1 亿元，同增13.9%。2025 年 Q1 公司营收3.4 亿元，同增30.8%；归母净利5650 万元，同增13.6%，环减1.1%。公司积极开 ...

Group 1 - The company reported a revenue of 338 million yuan in Q1 2025, representing a year-on-year growth of 30.83%, and a net profit attributable to shareholders of 56.5 million yuan, up 13.62% year-on-year [1] - The revenue growth was primarily driven by increased sales and income from high-temperature alloy products, which are used in the aerospace sector, as demand for these products continues to rise with advancements in aerospace technology and domestic substitution [2] - The company is focused on enhancing product quality and technological capabilities to provide superior material solutions for the aerospace industry, contributing to the development of China's aerospace sector [2] Group 2 - Since the beginning of 2025, the company has engaged in 14 investor meetings, with a total of 182 participating institutions, to update them on its operational status [3] - The company anticipates a recovery in the market for ultra-pure niobium materials, high-purity tantalum materials for semiconductors, and high-temperature alloy special steels, driven by demand from large scientific projects, high-performance chips, smart vehicles, and national defense equipment [3] - The company aims to strengthen its position in the tantalum and niobium industry through high-quality development, technological innovation, and comprehensive reforms [3] Group 3 - Analysts from Minsheng Securities believe that the company, despite being a traditional state-owned enterprise, is successfully implementing market-oriented reforms and continuous R&D innovation, leading to improved efficiency [4] - The company is positioned as a leader in the domestic tantalum, niobium, and beryllium industry, with a stable recovery in its main business of tantalum wire and powder, and growing demand in high-end emerging applications [4] - Minsheng Securities projects the company's net profit attributable to shareholders to be 308 million yuan, 413 million yuan, and 530 million yuan for 2025, 2026, and 2027 respectively, maintaining a "recommended" rating [4]

中信金属股份有限公司 CITIC Metal Co., Ltd （北京市朝阳区新源南路 6 号京城大厦 1903 室） 首次公开发行股票并在主板上市 招股说明书 （申报稿） 本公司的发行申请尚需经交易所和中国证监会履行相应程序。本招股说明书不具 有据以发行股票的法律效力，仅供预先披露之用。投资者应当以正式公告的招股 说明书作为投资决定的依据。 联合保荐机构（主承销商） （广东省深圳市福田区中心三路 8 号卓 越时代广场（二期）北座） 中信金属股份有限公司 招股说明书 (申报稿) （江西省南昌市红谷滩新区红谷中大道 1619 号南昌国际金融大厦 A 栋 41 层） 中信金属股份有限公司 招股说明书（申报稿） 声明及本次发行概况 中国证监会、交易所对本次发行所作的任何决定或意见，均不表明其对发行人注册 申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明其对发行人的盈 利能力、投资价值或者对投资者的收益作出实质性判断或保证。任何与之相反的声明均 属虚假不实陈述。 根据《证券法》规定，股票依法发行后，发行人经营与收益的变化，由发行人自行 负责；投资者自主判断发行人的投资价值，自主作出投资决策，自行承担股票 ...