证券代码：000603 证券简称：盛达资源 公告编号：2026-012 盛达金属资源股份有限公司 关于股东部分股份解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 盛达金属资源股份有限公司（以下简称"公司"、"本公司"）于近日收到股 东赵满堂先生的通知，获悉其所持有本公司的部分股份解除质押，具体事项如下： 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | | | | 已质押股份情况 | | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 持股数量 | 持股 | 累计被质押 | 占其所 | 占公司 | 已质押股份 | 占已质 | 未质押股 | | | 名称 | （股） | 比例 | 股份数量 | 持股份 | 总股本 | 限售和冻结 | 押股份 | 份限售和 | 占未质 押股份 | | | | | （股） | 比例 | 比例 | 数量（股） | 比例 | 冻结数量 （股） | 比例 | | 甘肃盛达 | | | ...

Group 1 - The A-share market saw a strong performance in gold-related stocks, with notable increases such as Xiaocheng Technology rising over 12% and Hebang Bio hitting the daily limit of 10% [1] - Recent news indicates that gold and silver prices have strengthened, with spot gold reaching a high of $5249.97, the highest since January 30, and spot silver surpassing $90, a peak since February 5 [1] - UBS maintains a positive outlook on gold, projecting that the international spot gold price could reach $6200 per ounce in the coming months, driven by geopolitical risks and continued monetary easing by the Federal Reserve [1] Group 2 - Analysts predict that global gold demand will exceed 5000 tons by 2025, supported by stronger investment flows and ongoing purchases by central banks [1] - Supply growth appears limited, with Wood Mackenzie estimating that around 80 mines will exhaust their current production plans by 2028, indicating constrained supply elasticity in the short term [1] - The following companies experienced significant stock price increases: Xiaocheng Technology (12.91%), Hebang Bio (10.08%), and Hunan Silver (9.65%), among others, reflecting the bullish sentiment in the gold sector [2]

白银：不可或缺的 AI 金属 [Table_Industry] 有色金属 白银行业深度专题 | [姓名table_Authors] | 电话 | 邮箱 | 登记编号 | | --- | --- | --- | --- | | 李鹏飞(分析师) | 010-83939783 | lipengfei2@gtht.com | S0880519080003 | | 魏雨迪(分析师) | 021-38674763 | weiyudi@gtht.com | S0880520010002 | | 李阳(分析师) | 021-23185618 | liyang7@gtht.com | S0880525040114 | 本报告导读： 白银两大属性形成强烈共振：商品属性上，白银工业需求占比升至近 60%，新兴领 域成为增长核心；金融属性上，全球流动性宽松环境下，与黄金形成联动，成为资 金避险优选。长期视角看，光伏、新能源汽车、人工智能等领域用银量增加，供需 缺口或将持续存在，为白银价格上涨提供动力。 投资要点： [Table_Report] 相关报告 有色金属《关注企稳后的布局机会》2026.02.09 有色金属《鹰派扰动，价格 ...

金银现货和期货价格出现上涨，金价已站上5100美元。 东莞证券2026年2月14日发布的有色金属行业双周报提到，短期黄金市场多空博弈加剧，需等待金价继 续企稳，中长期美元信用逐步弱化，叠加2026年美联储降息仍有预期，黄金配置价值有望进一步提升。 五矿证券2026年2月13日发布的2026年有色金属趋势展望指出，2025年贵金属涨幅居前，COMEX黄金 白银分别上涨81%、178%。东方证券2026年2月13日发布的A股风格及行业配置周报提到，流动性冲击 消化后，有色回归基本面定价，贵金属长期配置逻辑并未改变，近一周铜铝库存基本持稳，但累库幅度 放缓，铜铝等工业品现实转强或可期待，在宏观利好释出且供给扰动增加背景下，供需格局改善的品种 有望继续表现。光大证券2026年2月12日发布的2026年2月五维行业比较观点显示，有色金属行业在五维 行业比较框架下得分较高。国元证券2026年2月发布的有色金属行业双周报提到，截至2月6日， COMEX黄金近2周出现上涨。 产业链及企业梳理 赤峰黄金：聚焦黄金采选业务，通过旗下矿山开展黄金矿石开采与选矿加工，产出合质金等产品对外销 售，当前金银现货和期货价格出现上涨，金价已 ...

Group 1 - Precious metals and non-ferrous metals markets have shown significant volatility, with silver and gold prices narrowing their year-to-date gains to 9.1% and 9.9% respectively as of February 6, following a peak at the end of January 2026 [1] - The LME copper price has increased by 2.5% year-to-date, while nickel and lead prices continue to decline, reflecting a divergence in the performance of non-ferrous metals [1] - The recent decline in commodity prices, particularly a 2.7% drop in non-ferrous metals and a 14.1% decrease in lithium carbonate prices, indicates pressure on resource-related stock valuations due to weak domestic demand [1] Group 2 - The mining sector is experiencing active mergers and collaborations, with Chinese mining companies accelerating resource integration driven by high non-ferrous metal prices [2] - Notable transactions include Luoyang Molybdenum's acquisition of a gold mine in Brazil and Zijin Mining's plan to acquire Canadian United Gold for 28 billion yuan, enhancing resource reserves in lead, zinc, and silver [2] - A strategic cooperation framework agreement was signed between China Nonferrous Metal Group and China Gold Group to deepen collaboration in mineral exploration and development [2] Group 3 - Policy focus is on resource security and ecological coordination, with Sichuan province's new exploration initiative attracting 314 million yuan in funding and discovering significant mineral resources [3] - The Ministry of Natural Resources has promoted a balanced approach to mining development and ecological protection through the release of typical cases of ecological product value realization [3] - Tax data indicates that the green industry sales revenue is growing at an annual rate of over 30% during the 14th Five-Year Plan period, with clean energy generation accounting for 42.6% of the total, highlighting the long-term structural transformation in the resource sector [3]

Core Viewpoint - Shengda Resources (000603.SZ) is currently in the trial production phase at the Honglin Mining Caiyuanzi Copper-Gold Mine, with specific production metrics and regulatory compliance being highlighted [1] Group 1: Production Metrics - The average gold metal grade of the industrial ore body at the Honglin Mining Caiyuanzi Copper-Gold Mine is 2.82 grams per ton [1] - The average copper metal grade is 0.48% [1] - The reported production scale is 396,000 tons per year [1] Group 2: Regulatory Compliance - Honglin Mining is operating in accordance with national regulations and legal requirements for trial production [1] - The company is in the process of obtaining a safety production license, which is necessary for formal production [1] - Official production data will be confirmed after the safety production license is obtained and formal production begins [1]

Core Viewpoint - Shengda Resources (000603.SZ) is currently in the trial production phase at the Honglin Mining Caiyuanzi Copper-Gold Mine, with specific production metrics and regulatory compliance being highlighted [1] Group 1: Production Metrics - The average gold metal grade of the industrial ore body at the Honglin Mining Caiyuanzi Copper-Gold Mine is 2.82 grams per ton [1] - The average copper metal grade is 0.48% [1] - The reported production scale is 396,000 tons per year [1] Group 2: Regulatory Compliance - Honglin Mining is operating in accordance with national regulations and legal requirements for trial production [1] - The company is in the process of obtaining a safety production license, which is necessary for formal production [1] - Official production data will be confirmed after the safety production license is obtained and formal production begins [1]

Core Viewpoint - The company plans significant capital expenditures in the coming years focused on the development of multiple mining projects and resource acquisitions [1] Group 1: Capital Expenditure Plans - The capital expenditure plan includes the development of the DeYun Mining Bayannaoer silver polymetallic mine, the Yichun Jinshi Mining 460 Highland copper-molybdenum mine, and the Guangxi Jinshi Mining Miaohuang copper-lead-zinc-silver mine [1] - The company aims to enhance production efficiency at existing mines and increase resource reserves through exploration [1] - The financing strategy will involve a combination of self-funding, financing from financial institutions, and secondary market financing to meet funding needs [1]

Group 1: Company Overview and Mining Resources - The company has significant rare metal resources, including 32.01 tons of gallium, 43,276 kg of rhenium, 156 tons of indium, and 47 tons of gallium across various mining sites [1][2][3] - The remaining service life of the company's operational mines is over 10 years, with the Erentao Legai silver mine having over 20 years [2] Group 2: Future Production and Capacity Expansion - The company anticipates increased metal production following the commissioning of the Honglin Mining Caiyuanzi copper-gold mine and the completion of the 250,000 tons/year mining project at the Dongsheng Mining Bayannur silver polymetallic mine [3][4] - The production capacity of Jinshan Mining is expected to gradually increase to 480,000 tons/year, contributing to higher silver and gold output [3] Group 3: Capital Expenditure and Financial Management - Future capital expenditures will focus on the development of several mining projects, including the Deyun Mining Bayannur polymetallic mine and the Yichun Jinshi 460 highland copper-molybdenum mine [8] - The company plans to finance its mining construction and acquisitions through stable cash flow and may seek additional financing based on future funding needs [8] Group 4: Cost and Revenue Management - The mining product costs for 2025 are expected to remain stable compared to 2024, with increased sales revenue due to rising metal prices [9] - The company will determine specific sales timing for silver and gold products based on macroeconomic conditions and future expectations [7] Group 5: Dividend and Acquisition Strategy - The company will develop a reasonable dividend plan considering industry characteristics, operational model, profitability, and investor returns [10] - Following the acquisition of a 60% stake in Yichun Jinshi Mining, the company may consider acquiring the remaining 20% stake in the future [11]

Core Insights - The World Silver Association reported on February 10 that global silver investment demand is expected to remain strong in 2026, supported by geopolitical tensions and uncertainty in U.S. policies [1] - A supply deficit of approximately 67 million ounces is anticipated in the global silver market by 2026, marking the sixth consecutive year of shortage [1] - The international silver price surged significantly at the beginning of the year, reaching a record high of $121.65 per ounce on January 29 [1] - Recent trends indicate a stabilization in international silver prices, leading to adjustments in silver-related stocks [1] Investment Demand - Geopolitical tensions and U.S. policy uncertainty are driving increased investment demand for silver [1] - The strong demand is expected to continue through 2026, indicating a robust market outlook [1] Supply Dynamics - The global silver market is projected to face a supply shortfall of about 67 million ounces in 2026 [1] - This anticipated shortfall represents the sixth consecutive year of supply deficit in the silver market [1] Price Trends - The international silver price reached a historic high of $121.65 per ounce on January 29, 2023 [1] - Following this peak, silver prices have shown a tendency to stabilize, impacting the performance of silver-related stocks [1] Stock Performance - Data indicates that over 80% of silver-related stocks have experienced a pullback of more than 20% compared to their highs earlier in the year [1] - Specific companies such as Silver Nonferrous, Shengda Resources, Hunan Silver, Xingye Silver Tin, and Yuguang Gold Lead have seen pullbacks exceeding 30% [1]