Hunan silver: there is a high risk of speculation, and there is a risk of rapid decline in the future.

Hunan Silver issues a notice of abnormal movement, indicating that the company may face the following risks: - Silver price fluctuation risk: Silver prices are influenced by a variety of factors such as market supply and demand, global macroeconomic conditions and expectations, the trend of the US dollar, and major global political events. There is uncertainty regarding whether silver prices will continue to rise or remain at high levels. - The company's main business is silver smelting, with a comprehensive gross profit margin of 6.54% in 2024, which is relatively low compared to other mining companies. The company's stock price has recently deviated significantly from the market and industry indices, with large short-term fluctuations. There is a high risk of speculation, and the stock price has deviated significantly from the fundamentals of the listed company, posing a risk of rapid decline in the future. As of January 29, 2026, the company's stock closing price was 21.15 yuan per share. - Mining resource reserve risk: The company's current reserves of metal resources in its mining subsidiaries are relatively small compared to others in the industry, posing a risk of resource reserves. Investors are advised to make rational decisions, invest cautiously, and be aware of risks in secondary market trading.