| | 转债简称：金诚转债 | | | | | | --- | --- | --- | --- | --- | --- | | | | | | 转债 | | | 证券代码：603979 | | 转债代码：113615 | | | | | 转债代码：113699 | | | | | | | | | | 证券简称：金诚信 转债简称：金 25 | | 公告编号：2026-001 | 金诚信矿业管理股份有限公司 2025 年第四季度"金诚转债"转股结果 暨股份变动公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 累计转股情况：截至 2025 年 12 月 31 日，累计共有 504,168,000 元"金 诚转债"转换为公司股票，累计因转股形成的股份数量为 40,380,054 股，占"金 诚转债"转股前公司已发行股份总额的 6.9214%。 未转股可转债情况：截至 2025 年 12 月 31 日，尚未转股的"金诚转债" 金额为 495,832,000 元，占可转债发行总额的 49.5832%。 本季度转股 ...

金诚信矿业管理股份有限公司 董事、高级管理人员薪酬与考核管理办法 第一章 总 则 第一条 为进一步加强金诚信矿业管理股份有限公司（以下简称"公司"）董事、 高级管理人员的薪酬管理，完善激励约束机制，有效地调动董事、高级管理人员的工 作积极性，不断提高公司经营管理水平，促进公司健康、持续、稳定发展，根据《中 华人民共和国公司法》（以下简称《公司法》）、《上市公司治理准则》《上市公司 独立董事管理办法》等有关法律、法规以及《金诚信矿业管理股份有限公司章程》(以 下简称《公司章程》)、《金诚信矿业管理股份有限公司董事会薪酬与考核委员会议 事规则》（以下简称《薪酬与考核委员会议事规则》）等有关规定，制定本办法。 第二条 本办法适用于公司董事、高级管理人员。高级管理人员指《公司章程》 中规定的高级管理人员，具体包括：公司总裁、副总裁、财务总监、总工程师、总经 济师、董事会秘书。 第三条 公司以市场薪酬水平为参考，根据董事、高级管理人员在公司所任岗位 的任职资格、知识要求、工作强度和法律责任等因素，确定对应的薪酬标准。遵循以 下原则： （一）公开、公平、公正原则。薪酬水平符合公司规模与经营业绩，同时兼顾市 场薪酬水平； ...

| 证券代码：603979 | 证券简称：金诚信 | 公告编号：2026-003 | | --- | --- | --- | | 转债代码：113615 | 转债简称：金诚转债 | | | 转债代码：113699 | 转债简称：金 25 | 转债 | 金诚信矿业管理股份有限公司 关于公司及子公司 2026 年度对外担保额度的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 被担保人名称：合并报表范围内子公司（含公司控制的经济实体）。 担保额度预计：在确保规范运作和风险可控的前提下，公司及全资子公 司拟在 2026 年度为被担保人申请信贷业务及日常经营需要提供担保，预计担保 额度不超过人民币 28 亿元（或等值外币），其中对资产负债率高于 70%的子公 司的担保额度不超过人民币 15 亿元（或等值外币）。此担保额度可循环使用， 最高担保余额将不超过本次授予的担保额度。上述预计担保额度包括新增担保以 及原有担保的展期或续保金额。 截至公告日，公司无逾期对外担保。 以上担保额度尚需提交公司股东会进行审议，并需经出 ...

| 证券代码：603979 | 证券简称：金诚信 | | 公告编号：2026-004 | | --- | --- | --- | --- | | 转债代码：113615 | 转债简称：金诚转债 | | | | | | 转债 | | | 转债代码：113699 | 转债简称：金 25 | | | 关于签署房屋租赁合同暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 税）。 金诚信矿业管理股份有限公司 重要内容提示： 交易内容：公司租赁控股股东之全资子公司北京景运实业投资有限责任 公司（简称"景运实业"）位于北京市丰台区育仁南路 3 号院 3 号楼的 3 层-11 层（电梯楼层）的部分办公场地及车位，租期为 1 年，租赁合同总金额为人民币 23,219,808.75 元，此次租赁构成关联交易。 本次交易未构成重大资产重组。 董事会在对该项关联交易进行表决时，关联董事已回避表决。根据《上 海证券交易所股票上市规则》《公司章程》等规定，本次签订房屋租赁合同暨关 联交易无需提交股东会审议。 此次房屋租赁，是在前期与 ...

| 转债代码：113615 | 转债简称：金诚转债 | | | | --- | --- | --- | --- | | 证券代码：603979 转债代码：113699 | 证券简称：金诚信 转债简称：金 25 | 转债 | 公告编号：2026-005 | 金诚信矿业管理股份有限公司 关于召开2026年第一次临时股东会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一)股东会类型和届次 2026年第一次临时股东会 (二)股东会召集人：董事会 (三)投票方式：本次股东会所采用的表决方式是现场投票和网络投票相结合 的方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2026 年 1 月 23 日 14 点 00 分 召开地点：北京市丰台区育仁南路 3 号院 3 号楼公司会议室 股东会召开日期：2026年1月23日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 (七)涉及公开征集股东投票权 不涉及 二、 会议审议事项 本次股东会审议议案及投票股东类型 | ...

第五届董事会第三十次会议决议公告 | 证券代码：603979 | 证券简称：金诚信 公告编号：2026-002 | | --- | --- | | 转债代码：113615 | 转债简称：金诚转债 | | 转债代码：113699 | 转债简称：金 25 转债 | 金诚信矿业管理股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 董事会同意公司及控股子公司在 2026 年度向金融机构申请总额不超过 90 亿元人民币（或等值外币）的综合授信，综合授信额度的主要内容为流动资金贷 款、承兑汇票、融资租赁、保函及信用证等，具体授信额度及内容尚须各授信银 行或其他金融机构批准。综合授信额度申请期限自股东会审议通过本议案之日起 不超过 12 个月。除非额外需求，在前述期限内公司将不再出具针对该额度内不 超过以上额度金额的单笔融资业务申请的董事会决议，公司授权董事长或董事长 指定的代理人代表公司签署上述授信额度内与授信相关的合同、协议、凭证等各 项法律文件。 表决结果：9 票同意，0 票反对，0 票弃权。 重要提示：本次董事会所 ...

Group 1 - The report highlights that industrial metal prices have shown a significant upward trend, particularly for copper and tin, which are constrained by supply issues. Prices have gradually increased throughout the year, with copper reaching a historical high [14][15][39]. - The overall performance of the non-ferrous metal sector has been impressive, with a year-to-date weighted average increase of 100.46% as of December 11, 2025, outperforming major indices like the Shanghai Composite and CSI 300 [26][33]. - The macroeconomic environment is expected to remain favorable for industrial metals in 2026, with continued liquidity support from the U.S. Federal Reserve's interest rate cuts and domestic policies aimed at boosting demand [39][10]. Group 2 - The report identifies AI and energy storage as significant drivers of marginal demand growth for copper and aluminum, with substantial capital expenditures from major cloud service providers expected to continue [45][58]. - For copper, the demand from AI data centers is projected to add approximately 26.8 thousand tons to total copper demand in 2026, driven by increased infrastructure investments [58][59]. - In the aluminum sector, while demand growth is anticipated, it is expected to be more limited compared to copper, with projected aluminum demand from data centers reaching around 78 thousand tons globally by 2026 [64][66]. Group 3 - The supply side for copper remains constrained due to ongoing production cuts and delays in new mining projects, which are expected to exacerbate structural shortages in the market [42][43]. - The aluminum market is facing a rigid supply ceiling domestically, with limited growth in production capacity and risks of shutdowns due to high electricity costs [43][44]. - The report recommends several companies with strong growth potential in the copper sector, including Shengtun Mining, Zangge Mining, and Zijin Mining, as well as companies in the aluminum sector like China Aluminum and China Hongqiao [11][39].

Group 1 - The core viewpoint is that the copper market is experiencing strong demand and supply mismatch, with optimistic economic expectations supporting price increases, while caution is advised regarding short-term price volatility [1][2][3] - On December 26, major metal prices surged, with COMEX copper rising by 4.96% to $5.8515 per pound and Shanghai copper increasing by 3.33% to 101,380 yuan per ton, marking a new historical high [1][2] - Factors contributing to the strong market sentiment include supply chain disruptions, resource nationalism, and a gradual economic recovery in major economies, leading to a strong willingness to buy copper [2] Group 2 - The economic outlook for 2026 is moderately optimistic, with the Federal Reserve projecting GDP growth of 2.1%-2.5%, which is expected to support industrial metal demand and further increase copper prices [3] - Despite the positive outlook, there are concerns about inflation and potential impacts on Federal Reserve interest rate policies, which could affect copper prices [3] - Investment recommendations include leading industrial metal companies such as Zijin Mining, Luoyang Molybdenum, Western Mining, Tongling Nonferrous Metals, Yunnan Copper, Jiangxi Copper, and Jincheng Mining [3]

Core Viewpoint - Jin Chengtong's stock price has shown significant growth this year, with a year-to-date increase of 117.10%, indicating strong market performance and investor interest [1]. Financial Performance - For the period from January to September 2025, Jin Chengtong achieved a revenue of 9.933 billion yuan, representing a year-on-year growth of 42.50% [2]. - The net profit attributable to shareholders for the same period was 1.753 billion yuan, reflecting a year-on-year increase of 60.37% [2]. Stock Market Activity - As of December 30, Jin Chengtong's stock price was 77.83 yuan per share, with a trading volume of 333 million yuan and a turnover rate of 0.70% [1]. - The company experienced a net inflow of main funds amounting to 1.885 million yuan, with significant buying activity from large orders [1]. Shareholder Information - As of November 30, the number of shareholders for Jin Chengtong was 21,100, with an average of 29,598 circulating shares per shareholder [2]. - The company has distributed a total of 768 million yuan in dividends since its A-share listing, with 477 million yuan distributed over the past three years [3]. Company Overview - Jin Chengtong Mining Management Co., Ltd. was established on January 7, 2008, and went public on June 30, 2015 [1]. - The company's main business includes mining engineering construction, mining operation management, and mining design and technology research, with a revenue composition of 46.11% from sales of cathode copper, copper concentrate, and phosphate rock [1].

Investment Rating - The report maintains an "Accumulate" rating for the copper industry [6]. Core Viewpoints - The report is optimistic about the upward trend in copper prices, expecting continued price increases due to tightening supply and improving demand [4][10]. - As of December 26, 2025, SHFE copper closed at 98,720 CNY/ton, up 5.95% from December 19, and LME copper closed at 12,133 USD/ton, up 3.37% [1][18]. - The National Development and Reform Commission emphasizes the need for enhanced management and optimization of the copper smelting industry [1]. Supply and Demand Summary - **Supply**: Domestic copper concentrate production in October 2025 was 130,000 tons, down 8.1% month-on-month and down 12.1% year-on-year. The domestic port copper concentrate inventory as of December 26, 2025, was 775,000 tons, up 5.9% from the previous week [2][50]. - **Demand**: The cable industry, which accounts for approximately 31% of domestic copper demand, saw a decrease in operating rates to 60.75%, down 5.96 percentage points from the previous week. Air conditioning production for January 2026 is expected to increase by 11% year-on-year [3][88]. Inventory Summary - Domestic copper social inventory increased by 16.8% week-on-week, while LME copper inventory decreased by 4.3% [2][27]. - As of December 19, 2025, global copper inventory across the three major exchanges totaled 716,000 tons, up 1.4% from December 12 [2][27]. Futures Market Summary - The active SHFE copper contract saw a 2% increase in open interest, reaching 252,000 contracts as of December 26, 2025 [4][34]. - COMEX non-commercial net long positions were at 65,000 contracts, up 3.8% week-on-week, indicating strong market sentiment [4][34]. Company Profit Forecasts and Valuation - Key companies in the copper sector are projected to have the following earnings per share (EPS) and price-to-earnings (PE) ratios: - Western Mining (601168.SH): EPS of 1.72 for 2025E, PE of 16 [5]. - Zijin Mining (601899.SH): EPS of 1.94 for 2025E, PE of 17 [5]. - Luoyang Molybdenum (603993.SH): EPS of 0.89 for 2025E, PE of 22 [5]. - Jincheng Mining (603979.SH): EPS of 3.61 for 2025E, PE of 23 [5].