Core Viewpoint - Guangxi Huaxi Nonferrous Metals Co., Ltd. (stock code: 600301) experienced a significant stock price fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days (February 25, 26, and 27, 2026) [2][4]. Group 1: Stock Trading Anomaly - The company's A-share stock price has deviated significantly, indicating an abnormal trading situation as per the Shanghai Stock Exchange regulations [2][4]. - The cumulative closing price increase over the specified three days was over 20%, which qualifies as an abnormal trading fluctuation [4]. Group 2: Company Operations and Major Events - The company reported that there have been no significant changes in its production and operational fundamentals, and the internal production order remains normal [5]. - A thorough self-examination and inquiries to the controlling and indirect controlling shareholders confirmed that there are no undisclosed major events, such as asset restructuring or significant transactions [6]. - No media reports or market rumors that could significantly impact the stock price were identified as of the announcement date [7]. - There were no other sensitive information or events that could affect the stock price, and no insider trading activities were reported during the period of stock price fluctuation [8].

Group 1 - The non-ferrous metal sector continued its strong performance on February 27, with a net inflow of 23.2 billion yuan, ranking second among 31 Shenwan primary industries [1] - Nine stocks, including Hunan Gold, Huaxi Nonferrous, Xiamen Tungsten, and Zhong Rare Metals, reached the daily limit, while the non-ferrous ETF (159876) saw a maximum intraday increase of 3.82%, closing up 3.74% with a total trading volume exceeding 100 million yuan [1] - The upcoming rare earth and rare metal export policy briefing is scheduled for March 25, with prices of rare earths and minor metals continuing to rise due to supply-demand dynamics [1][2] Group 2 - Zimbabwe's mining department announced a ban on lithium ore exports, raising market expectations for price increases, similar to the previous case with cobalt prices due to the Democratic Republic of Congo's export suspension [2] - Citic Securities indicated that after a significant price surge in 2025, the momentum for non-ferrous metals remains strong, supported by supply disruptions, localized high demand, and inventory accumulation [2] - The non-ferrous ETF from Huabao (159876) and its linked funds comprehensively cover various metals, including copper, aluminum, gold, rare earths, and lithium, providing an efficient tool for investors to gain exposure to the non-ferrous metal sector [2]

证券日报网讯 2月27日，华锡有色发布公告称，公司A股股票连续三个交易日内（2026年2月25日、2月 26日、2月27日）收盘价格涨幅偏离值累计超过20%，根据《上海证券交易所交易规则》的有关规定， 属于股票交易异常波动情形。根据《上海证券交易所股票上市规则》等有关规定，公司董事会确认公司 不存在任何应披露而未披露的事项或与该等事项有关的筹划、商谈、意向、协议等，董事会也未获悉根 据《上海证券交易所股票上市规则》等有关规定应披露而未披露的、对公司股票交易价格可能产生较大 影响的信息。公司前期披露的信息不存在需要更正、补充之处。 （编辑 丛可心） ...

Core Viewpoint - The company is advancing multiple mining projects, including the copper pit area tin-zinc resource development project and the deep mining project of the Gaofeng 100+105 ore body, with future metal volume increases dependent on project progress and resource conditions [2] Group 1 - The company is currently promoting the development of tin-zinc mineral resources in the copper pit area [2] - The deep mining project of the Gaofeng 100+105 ore body is also underway [2] - Future increases in metal volume will be influenced by various factors, including project progress and resource availability [2]

Core Viewpoint - The company emphasizes the importance of mining service life, resource reserves, extraction scale, production plans, and exploration results in determining the remaining service life of its mines [1] Group 1: Mining Operations - The remaining exploitable life of the company's own mines ranges from 8 to 32 years according to the 2024 annual report [1] - The company is accelerating the deep mining project of the Gaofeng Company, specifically projects 100 and 105, to enhance overall production capacity [1] - The company is actively promoting the capacity release after the exploration-to-production transition at the Copper Pit mine, which will effectively increase overall capacity [1] Group 2: Future Plans - The company plans to continuously increase investment in exploration and resource reserves [1] - It aims to dynamically optimize production capacity arrangements based on resource development progress and market demand [1] - These strategies are intended to provide resource assurance for long-term stable operations and sustainable development [1]

Core Viewpoint - The company, Huaxi Nonferrous (600301), outlines its future capital expenditure plans focused on high-end, intelligent, and green development of the entire industrial chain for tin, antimony, and indium [1] Group 1: Future Capital Expenditure Focus - The company will concentrate on four key areas: resource security and capacity enhancement [1] - Strengthening, supplementing, and extending the industrial chain will be a priority [1] - Emphasis will be placed on technological innovation and technical breakthroughs [1] - Optimization of industrial layout and modern governance will also be a focus [1] Group 2: Implementation and Reporting - The company plans to implement its strategies in an orderly manner according to its development strategy and investment plans [1] - Specific investment progress and arrangements will be disclosed in regular reports and announcements [1]

Core Viewpoint - The global tin market is currently experiencing a long-term structural tight balance, influenced by various supply and demand factors [1] Supply Side Summary - Supply is constrained by complex resource conditions, tightening environmental policies, geopolitical issues, and insufficient exploration investments [1] - New production capacity is limited, leading to overall slow supply growth [1] Demand Side Summary - Demand is driven by emerging industries such as photovoltaics, electric vehicles, semiconductors, and artificial intelligence, which provide stable growth momentum [1] Company Strategy Summary - The company will focus on its core business, continuously optimize production and cost management, and enhance resource utilization efficiency to strengthen its core competitiveness [1]

Core Viewpoint - The company, Huaxi Nonferrous, operates three mines: Tongkeng Mine, Gaofeng Tin Mine, and Fozichong Lead-Zinc Mine, with significant resource reserves and production capacities in various metals [1] Group 1: Mine Operations - Tongkeng Mine covers an area of 15.7786 square kilometers with a certified production capacity of 3.5 million tons per year, primarily containing tin, zinc, lead, antimony, and indium [1] - Gaofeng Tin Mine spans 2.1981 square kilometers with a certified production capacity of 330,000 tons per year, featuring a rare large-scale polymetallic tin deposit that meets industrial requirements for tin, zinc, lead, and antimony [1] - Fozichong Lead-Zinc Mine has an area of 13.2852 square kilometers and a certified production capacity of 450,000 tons per year, mainly containing zinc, lead, and copper [1] Group 2: Resource Reserves - As of the 2025 semi-annual report, the company holds a total of 4.4925 million tons of metal resources, including tin, antimony, indium, zinc, lead, silver, and copper [1] - The specific types of metals, resource quantities, and grade levels vary among the mines due to their inherent geological differences, with detailed data available in the company's regular annual and semi-annual reports [1]

Core Viewpoint - The company, Huaxi Nonferrous, reported a resource reserve of indium metal amounting to 3,332.25 metric tons as of December 31, 2024, and an indium ingot production of 21.21 tons from January to September 2025. The impact of rising indium prices on the company's overall performance will depend on various factors including actual production, sales rhythm, pricing models, and production costs [1]. Group 1 - The company's indium business primarily relies on by-product recovery, with production levels linked to the output of main metals [1]. - The company plans to continuously monitor market trends and organize production and sales in compliance with regulations, while optimizing product structure to enhance resource recovery efficiency [1].

Group 1 - The company emphasizes the importance of reasonable returns to shareholders and has completed the use of reserves to offset losses [2] - The company plans to formulate a dividend plan based on operational performance, cash flow status, future development plans, and relevant laws and regulations [2] - The company commits to timely information disclosure in accordance with relevant regulations [2]