证券代码：002378 证券简称：章源钨业 公告编号：2025-064 崇义章源钨业股份有限公司 表决结果：同意票 9 票，反对票 0 票，弃权票 0 票。 公司第六届董事会独立董事 2025 年第二次专门会议事前审议通过本议案。 具体内容参见公司于 2025 年 12 月 30 日在《证券时报》《中国证券报》《上 海证券报》和巨潮资讯网（http://www.cninfo.com.cn）披露的《关于 2026 年度日 常关联交易预计的公告》。 第六届董事会第二十二次会议决议公告 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。 一、董事会会议召开情况 崇义章源钨业股份有限公司（以下简称"公司"）第六届董事会第二十二次会 议（以下简称"会议"）通知于 2025 年 12 月 19 日以专人送出或电子邮件的形式 发出，于 2025 年 12 月 27 日在公司会议室以现场结合视频方式召开。本次会议 应出席董事 9 名，实际出席董事 9 名（其中：委托出席的董事 1 名，以通讯表决 方式出席会议的董事 5 名）。董事长黄泽兰先生因工作安排，委托副董事长黄世 春先生出 ...

Core Insights - The report highlights the positive outlook for strategic metals investment opportunities due to favorable supply-demand dynamics and resource nationalism [3][5][11]. Market Review: Strategic Metals Lead Nonferrous - From the beginning of the year until December 18, 2025, the nonferrous metals sector has risen by 78.53%, ranking second among all industries. Strategic metals have shown significant gains, with tungsten up 136.7%, cobalt up 69.1%, and rare earth permanent magnets up 56.7% [7]. Cobalt: Supply Tightening from Congo (DRC) - The Democratic Republic of Congo (DRC) has implemented an export quota system for cobalt, leading to a projected supply-demand imbalance of -7.5/-3.3/-3.3 million tons for 2025-2027. The DRC's export ban and subsequent quota system are expected to keep cobalt prices elevated [3][14][16]. Rare Earths: Supply Expectations Tightening - The rare earth sector is experiencing tightening supply due to strategic export controls and a lack of public quota announcements. The price of light rare earths has seen fluctuations, with a peak price of 64.30 million yuan/ton for praseodymium and neodymium oxides in August 2025, followed by a decline [22][26][46]. Tungsten: Continued Supply-Demand Gap - The tungsten market is facing a supply squeeze due to mining restrictions and declining ore grades. Demand remains stable, supported by applications in military and photovoltaic sectors, suggesting that tungsten prices are likely to rise [3][5]. Tin: Supply Tightness and AI Demand Growth - The resumption of tin production in Myanmar is slow, with significant delays expected. However, the rapid development of AI is emerging as a new growth driver for tin demand [3][5]. Antimony: Export Recovery Expected - The suspension of export restrictions to the U.S. is anticipated to boost China's antimony exports, which currently account for 36% of its production. The lifting of these restrictions is expected to enhance export volumes significantly [5]. Investment Recommendations - The report suggests focusing on companies benefiting from the tightening supply of strategic metals, including Huayou Cobalt, China Rare Earth, and Xiamen Tungsten. Specific recommendations include companies with significant cobalt production quotas in the DRC and those involved in rare earth processing [5][3].

Group 1 - The small metals sector increased by 2.12% on December 26, with Zhongkuang Resources leading the gains [1] - The Shanghai Composite Index closed at 3963.68, up 0.1%, while the Shenzhen Component Index closed at 13603.89, up 0.54% [1] - Zhongkuang Resources saw a closing price of 80.22, with a rise of 8.04% and a trading volume of 305,400 shares, amounting to a transaction value of 2.404 billion yuan [1] Group 2 - The small metals sector experienced a net outflow of 601 million yuan from main funds, while retail investors saw a net inflow of 698 million yuan [2] - The trading data indicates that the main funds had a net inflow of 208 million yuan into China Uranium Industry, while other companies like Xianglu Tungsten and Zhongkuang Resources had varying net inflows and outflows [3] - The overall trading volume and transaction values for various small metal stocks reflect significant activity, with companies like Xiyang Materials and China Rare Earth showing positive movements [2][3]

Group 1 - The core point of the announcement is that the controlling shareholder, Changyi Zhangyuan Investment Holding Co., Ltd., has released part of its pledged shares in Changyi Zhangyuan Tungsten Industry Co., Ltd. [2] - As of the announcement date, the pledged shares held by the shareholder and its concerted parties are detailed, indicating a stable financial situation without risks of forced liquidation or transfer [2] - The company will continue to monitor the changes in share pledges and related risks, ensuring timely information disclosure [2] Group 2 - The company has approved a guarantee for its wholly-owned subsidiary, Ganzhou Aoketai Tool Technology Co., Ltd., to apply for bank loans totaling 110 million yuan, with 50 million yuan from Industrial and Commercial Bank of China and 60 million yuan from China Merchants Bank [5][7] - The guarantee agreement with Industrial and Commercial Bank was signed on December 24, 2025, covering a maximum balance of 50 million yuan for a period from December 24, 2025, to December 24, 2028 [8] - The total approved external guarantee amount is 400 million yuan, with 179 million yuan currently utilized, representing 8.40% of the company's audited net assets for 2024 [14]

Core Viewpoint - Zhangyuan Tungsten Industry announced the release of 30 million shares from pledge by its controlling shareholder, Zhangyuan Holdings, which holds approximately 340 million pledged shares, accounting for 49.94% of its total holdings [1] Group 1: Company Financials - For the first half of 2025, Zhangyuan Tungsten's revenue composition is as follows: non-ferrous metal mining and smelting, along with metal processing, account for 91.51% of total revenue, while other businesses contribute 8.49% [1] - As of the announcement date, Zhangyuan Tungsten's market capitalization stands at 17.3 billion yuan [1]

Core Viewpoint - The announcement reveals that the controlling shareholder, Changyi Zhangyuan Investment Holding Co., Ltd., has released a portion of its pledged shares in Zhangyuan Tungsten Industry, indicating a potential shift in the company's financial strategy and shareholder confidence [1] Group 1: Share Pledge Details - The number of shares released from pledge is 30,000,000, which accounts for 4.40% of the shares held by the controlling shareholder and 2.50% of the total share capital of the company [1] - The pledge was initiated on March 24, 2025, and was released on December 24, 2025, with the pledgee being Ganzhou Bank Co., Ltd. Chongyi Branch [1] Group 2: Shareholding Structure - As of the announcement date, the controlling shareholder holds 681,534,203 shares, representing 56.73% of the total shares [1] - After the release of the pledged shares, the number of pledged shares is now 340,330,000, which constitutes 49.94% of the shares held by the controlling shareholder and 28.33% of the total share capital of the company [1]

证券代码：002378 证券简称：章源钨业 公告编号：2025-063 崇义章源钨业股份有限公司 关于为全资子公司赣州澳克泰工具技术有限公司 申请银行贷款提供担保的进展公告 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。 一、担保情况概述 崇义章源钨业股份有限公司（以下简称"公司"）于 2025 年 12 月 13 日召开 第六届董事会第二十一次会议，审议通过《关于为全资子公司赣州澳克泰工具技 术有限公司申请银行贷款提供担保的议案》，同意由公司为全资子公司赣州澳克 泰工具技术有限公司（以下简称"赣州澳克泰"）向中国工商银行股份有限公司崇 义支行（以下简称"工商银行崇义支行"）申请贷款 5,000 万元、向招商银行股份 有限公司赣州分行（以下简称"招商银行赣州分行"）申请贷款 6,000 万元提供担 保。 具体内容参见公司于 2025 年 12 月 16 日在《证券时报》《中国证券报》《上 海证券报》和巨潮资讯网（http://www.cninfo.com.cn）披露的《第六届董事会第 二十一次会议决议公告》（公告编号：2025-057）和《关于为全资子公司赣州 ...

关于控股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。 证券代码：002378 证券简称：章源钨业 公告编号：2025-062 一、股东股份解除质押基本情况 崇义章源钨业股份有限公司（以下简称"公司"或"本公司"）于 2025 年 12 月 25 日接到控股股东崇义章源投资控股有限公司（以下简称"章源控股"）函告， 获悉章源控股所持本公司的部分股份解除质押，具体事项如下： 1．本次股份解除质押的基本情况 | 股东 | 是否为控股股东 或第一大股东及 | 本次解除质 押股份数量 | 占其所持 | 占公司总 | 起始日 | | 解除日期 | | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | | 股份比例 | 股本比例 | | | | | | | | 其一致行动人 | （股） | | | | | | | | | 章源 | 为公司 | 30,000,000 | 4.40% | 2.50% | 2025 | 年 | 年 2025 | | ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002378 证券简称：章源钨业 公告编号：2025-061 1. 股东减持股份情况 ■ 注：章源控股的股份来源为首次公开发行前已取得的股份。 2. 股东本次减持前后持股情况 ■ 崇义章源钨业股份有限公司 控股股东减持计划实施完成的公告 股东崇义章源投资控股有限公司保证向本公司提供的信息内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 崇义章源钨业股份有限公司（以下简称"公司"或"本公司"）于2025年9月13日在《证券时报》《中国证 券报》《上海证券报》和巨潮资讯网（http://www.cninfo.com.cn）披露了《控股股东减持股份预披露公 告》（公告编号2025-045，以下简称"减持计划"），公司控股股东崇义章源投资控股有限公司（以下简 称"章源控股"），计划在减持计划公告发布之日起15个交易日后的3个月内，以大宗交易方式减持本公 司股份不超过24,000,000股（占本公司总股本比例2%）。 近日，公司收到章源控股《告知函》，获悉其减持计划实施完成。现将具 ...

Core Viewpoint - On December 24, the Shanghai Composite Index rose by 0.53%, with institutional investors appearing on the trading lists of 31 stocks, net buying 22 and net selling 9 [1]. Institutional Trading Summary - Institutional special seats were present in 31 stocks, with a total net purchase amount of 1.47 billion yuan, marking the fourth consecutive day of net buying [1]. - The stock with the highest net purchase by institutional seats was Tianyin Electric, which closed up 17.21% with a turnover rate of 36.00% and a transaction volume of 4.31 billion yuan. The net buying from institutional seats totaled 496 million yuan [2]. - Tongyu Communication also saw significant activity, closing up 6.31% with a turnover rate of 42.86% and a transaction volume of 4.72 billion yuan, resulting in a net institutional purchase of 213.61 million yuan [2]. - Western Materials closed up 8.47% with a turnover rate of 29.92% and a transaction volume of 5.78 billion yuan, leading to a net institutional purchase of 185.52 million yuan [3]. Market Performance - The average increase of stocks with net institutional purchases was 9.48%, outperforming the Shanghai Composite Index. Stocks like Xin Jinggang and Ying Tang Zhikong showed strong performance, closing at the daily limit [3]. - A backtest of stocks with net institutional purchases over the past month revealed a 48.55% probability of an increase the next day, with a similar probability of outperforming the Shanghai Composite Index [3]. Net Selling Summary - The stock with the highest net selling by institutions was Zhangyuan Tungsten, which saw a decline of 8.79%, with a net selling amount of 164.07 million yuan [3]. - Other notable net selling stocks included Delixi Co., which had a net outflow of 3.87 million yuan, and Chuhuan Technology, which experienced a net outflow of 3.96 million yuan [4]. Deep and Shanghai Stock Connect Activity - On December 24, 25 stocks on the trading list had appearances from Deep and Shanghai Stock Connect, with net purchases including Tianji Shares and Tongyu Communication, amounting to 64.91 million yuan and 63.02 million yuan respectively [5][6]. - Stocks with net selling included Aerospace Power and Western Materials, with net selling amounts of 1.86 billion yuan and 1.28 billion yuan respectively [5].