Group 1 - The stock of Ningxia Dongfang Tantalum Industry Co., Ltd. experienced an abnormal trading fluctuation, with a cumulative closing price increase of over 20% on February 11 and 12, 2026 [2] - The company's board confirmed that there were no corrections or supplements needed for previously disclosed information, and no significant undisclosed information affecting stock prices was found [3][5] - The company's operational status is normal, with no significant changes in the internal or external business environment [4] Group 2 - During the period of stock fluctuation, there were no transactions involving the company's controlling shareholders, actual controllers, or senior management buying or selling company stock [4] - The company disclosed an announcement regarding the approval of a stock issuance to specific targets on February 10, 2026, and a fundraising prospectus on February 12, 2026 [4] - The board confirmed that there are no undisclosed matters that should have been disclosed according to the Shenzhen Stock Exchange's regulations [5]

股票代码：000962 股票简称：东方钽业 公告编号：2026-010 号 宁夏东方钽业股份有限公司 5、股票异动期间，未发生公司控股股东、实际控制人或者公司董 事及高级管理人员买卖公司股票的行为。 股票交易异常波动公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 一、股票交易异常波动情况 宁夏东方钽业股份有限公司（以下简称"东方钽业"或"公司"） 股票于 2026 年 2 月 11 日、2 月 12 日连续两个交易日收盘价涨幅偏 离值累计达到 20%以上，根据深圳证券交易所的有关规定，属于股票 交易异常波动情形。 二、公司关注、核实情况的说明 针对公司股票异常波动的情况，公司董事会就相关事项进行了核 实，现将有关情况说明如下： 1、公司前期披露的信息不存在需要更正、补充之处。 2、公司未发现近期公共媒体报道了可能或已经对本公司股票交易 价格产生较大影响的未公开重大信息。 3、公司目前经营情况正常，近期公司经营情况及内外部经营环境 未发生重大变化。 4、公司、控股股东和实际控制人不存在关于本公司的应披露而未 披露的重大事项，或处于筹划阶段的重大事项。 6 ...

Core Viewpoint - The article highlights the rising prices of tungsten and rare earth metals, with tungsten reaching a historical high, amidst increasing global competition for critical minerals [1]. Group 1: Market Performance - On February 12, the three major indices collectively rose, with the ChiNext Index increasing by over 1% [1]. - Small metal sectors showed significant activity, with companies like Xianglu Tungsten and Dongfang Tantalum experiencing notable stock performance [1]. Group 2: Supply and Demand Dynamics - The market anticipates increased demand for replenishment after the Spring Festival, leading to improved short-term transaction volumes [1]. - The current supply situation for tungsten remains tight, with challenges such as reduced mining quotas, declining year-end shipments, and unstable import volumes [1]. - The global tungsten market faces a pronounced supply-demand imbalance, making it difficult to resolve short-term issues [1].

Core Viewpoint - The company emphasizes that its production and operations must consider various factors such as market demand, inventory structure, customer orders, customized requirements, resource endowment, and long-term development [2] Pricing Strategy - The company's product pricing is primarily based on fluctuations in raw material prices, taking into account customer demand, its own cost structure, production cycles, and market conditions during negotiations with clients [2] - The sales price of the company's products is mainly determined using a cost-plus model, where prices, order quantities, and technical specifications are negotiated on a one-on-one basis with major customers [2] - Customers reference the average raw material prices from a period prior to contract signing to determine pricing levels [2] Market Dynamics - There is a certain lag in the transmission of raw material price changes to the sales prices of finished products due to factors such as pricing models, market competition, and coordination of customer relationships [2]

Core Viewpoint - Oriental Titanium (SZ000962) reached its daily limit up on February 12, 2026, with a price of 48.99 yuan, marking a 9.97% increase, and a total market capitalization of 24.728 billion yuan [1] Group 1: Company Developments - The company is in a critical phase of strategic expansion and business transformation, aiming to achieve raw material self-sufficiency through hydrometallurgy and pyrometallurgy projects, significantly reducing external procurement costs. Once the fundraising projects reach full production, they are expected to add an annual revenue of 3.53 billion yuan, greatly enhancing market share [2] - Oriental Titanium possesses several proprietary core technologies and is a leader in the tantalum and niobium materials sector. As of February 4, 2026, the company announced that it has achieved full-process technological breakthroughs and industrial integration in the production of high-purity tantalum powder, high-purity tantalum ingots, and 12-inch tantalum target blanks [2] - The company is the only entity globally capable of achieving a complete industrial chain from "high-purity niobium smelting to superconducting cavity manufacturing," with over 70% market share in superconducting niobium materials and superior performance compared to foreign counterparts [2] Group 2: Industry Context - The tantalum and niobium industry is a key area supported by national policies, receiving backing from government initiatives. Recently, the new materials sector has attracted market attention, leading to active performance in related stocks and creating a sectoral linkage effect [2] - On the funding side, data from Tonghuashun indicates that there was a net inflow of large orders on the day of the stock's limit up, suggesting that major funds are positioning themselves in the stock. Additionally, the MACD indicator for the stock has recently formed a golden cross, indicating a positive short-term trend [2]

Group 1 - The core point of the article is that Dongfang Tantalum Industry has experienced a significant stock price increase, reaching a limit up and achieving a two-day cumulative increase of 20.99% [2]

Core Viewpoint - Dongfang Tantalum Industry has experienced a consecutive two-day trading limit increase, driven by the rising demand for tantalum capacitors linked to the AI revolution and the active small metals sector [1] Group 1: Stock Performance - Dongfang Tantalum's stock hit the trading limit again at 13:45, with a transaction volume of 1.794 billion yuan and a turnover rate of 7.60% [1] Group 2: Market Position and Demand - The company holds over 50% of the domestic market share for capacitor-grade tantalum powder and 20%-25% of the global market [1] - The demand for tantalum capacitors is expected to grow globally due to advancements in AI technology [1] Group 3: Technological Advancements - Dongfang Tantalum has achieved a full-process technological breakthrough and industrial integration from materials to key chip manufacturing processes, including high-purity tantalum powder, tantalum ingots, and 12-inch tantalum target blanks [1]

Group 1: Company Overview - Ningxia Dongfang Tantalum Industry Co., Ltd. is involved in the research, production, sales, and import-export of tantalum and niobium products [1][7] - The company has established a global procurement system for tantalum and niobium concentrate, ensuring a stable supply of core raw materials [2][3] Group 2: Supply Chain and Procurement - The company has secured a long-term partnership with reputable domestic and international traders for raw material sourcing [3] - A significant acquisition was made in April 2025, where the company purchased a stake in Taboca Mining Company in Brazil, with a contract to procure approximately 3,000 tons of iron niobium tantalum alloy, valued at around 540 million RMB [3] Group 3: Production and Recycling - The company implements a closed-loop recycling model across its production processes, enhancing resource utilization efficiency [3] - It focuses on systematic recovery and utilization of tantalum and niobium metal waste generated during production [3] Group 4: Pricing Strategy - Product pricing is determined based on raw material price fluctuations, customer demand, and production costs, with a cost-plus pricing model being utilized [4] - The pricing negotiation process involves considering the average raw material prices prior to contract signing, leading to a lag in price transmission due to market competition and customer relations [4] Group 5: Future Plans - The company aims to focus on its core tantalum and niobium business, optimizing its industrial layout and enhancing technological innovation and lean management [5][6] - Currently, there are no plans for further acquisitions of shares in Xicai Institute [6] Group 6: Application Fields - Tantalum and niobium products are widely used in electronics, communications, aerospace, metallurgy, petroleum, chemical, lighting, medical, and nuclear energy sectors [7] - The company produces a full range of tantalum powder and wire, with products meeting international standards in technology and quality [7]

Market Overview - The Shanghai Composite Index experienced narrow fluctuations, while the Shenzhen Component and ChiNext indices saw upward movements, with the Shanghai and Shenzhen markets recording a half-day trading volume of 1.33 trillion yuan, an increase of 30.7 billion yuan from the previous trading day [1] - Over 2,700 stocks in the market rose, with notable strength in the electric grid equipment sector, where companies like Suyuan Electric and Sifang Co. reached new highs [1] - The non-ferrous metals sector remained active, with Xianglu Tungsten and Zhangyuan Tungsten achieving consecutive gains [1][7] - The CPO concept stocks surged again, with Tianfu Communication rising over 10% to set a new historical high [1] - The gas turbine concept stocks exploded, with Yingliu Co. and Changbao Co. hitting the daily limit [1] Electric Grid Equipment Sector - The electric grid equipment sector showed strong performance, with stocks like Suyuan Electric, Sifang Co., Shun Sodium Co., and Senyuan Electric hitting the daily limit [1][12] - The sector's growth is supported by a significant increase in transformer exports, which reached a record value of 64.6 billion yuan in 2025, marking a nearly 36% increase from the previous year [2][3] Non-Ferrous Metals Sector - The non-ferrous metals sector saw a notable increase, with black tungsten concentrate prices rising by 25.19% to 671,000 yuan per ton, and ammonium paratungstate prices increasing by 24.68% to 985,000 yuan per ton [7][17] - The Producer Price Index (PPI) showed a positive growth of 0.4% month-on-month in January 2026, the highest growth rate since May 2022, indicating potential price increases in the non-ferrous, electronics, and chemical industries [7] Liquid Cooling and Computing Power Rental Sector - The liquid cooling concept stocks also performed well, with companies like Chuanrun Co., Bojie Co., and Yingwei Co. hitting the daily limit [3][10] - The computing power rental sector remained active, with stocks like Dazhi Technology achieving four consecutive gains, and UCloud announcing a price increase for all cloud products and services starting March 1, 2026, due to rising costs [6][20] Media and Entertainment Sector - The media and entertainment sector faced a collective decline, with companies like Huanrui Century and Hengdian Film experiencing significant drops [1] Summary - Overall, the market continued to show a mixed trend, with the ChiNext index gaining over 1%. Technology growth stocks, particularly in electric grid equipment, liquid cooling, gas turbines, and computing power rental, led the gains, while the media and consumer sectors faced adjustments [9]

Core Viewpoint - The company, Dongfang Tantalum (东方钽业), confirmed that its subsidiary, Dongfang Zhizao, has successfully collaborated with Huashu Gaoke and Bolite to manufacture important components of rocket engines using 3D printing technology with the company's raw materials [1] Group 1 - Dongfang Zhizao has introduced Huashu Gaoke's metal 3D printing equipment for the production of tantalum, niobium, and their alloy 3D printed products [1]