6. 雍禾医疗（02279.HK） 盘中涨13%：与美团医药健康达成战略合作，共建医疗级毛发健康服务体 系，强化O2O服务生态。 7. 美图公司（01357.HK） 涨近4%：旗下AI影像创作智能体"RoboNeo"登顶App Store分类榜，通过自 然语言交互降低视觉创作门槛。 8. 宜搜科技（02550.HK） 跌超7%：以先旧后新方式配售6578.7万股（占扩大后股本14.6%），配售价 5.26港元较前日折让14.7%，募资3.46亿港元引发股权摊薄担忧。 点击蓝字，关注我们 今日上午港股 1. 造纸板块延续上行趋势 ：玖龙纸业（02689.HK）领涨板块，单日涨幅逾9%。公司近日向多个生产 基地发布第四轮「提价函」，宣布自8月1日起上调瓦楞纸及再生牛卡纸报价30元/吨，此为继7月1 日、10日及12日后的连续提价动作，反映行业供需结构优化。 2. 券商板块集体走强 ：中资券商股再度拉升，东方证券（03958.HK）涨超6%，中原证券 （01375.HK）涨5%，国联证券（01456.HK）涨逾4%。头部券商华泰证券（06886.HK）、中国银河 （06881.HK）均涨3.5%，申万宏源（0021 ...

港股黄金股集体下跌，潼关黄金(00340.HK)、山东黄金(017817.HK)跌超3%，中国白银集团 (00815.HK)、灵宝黄金(03330.HK)、招金矿业(01818.HK)跌超2%。 ...

Market Overview - US President Trump has issued new tariff policy letters to 14 countries, leading to a rebound in Hong Kong stocks, with the Hang Seng Index rising 1.09% to 24,148.07 points, ending a three-day decline [1] - The total trading volume for the day was HKD 213.29 billion, indicating active market participation [1] - The Hong Kong Monetary Authority has withdrawn HKD 59.072 billion in liquidity since June 28, tightening liquidity expectations in the short term [1] Blue Chip Performance - Xinyi Solar (00968) led blue-chip gains, rising 5.43% to HKD 2.91, contributing 1.04 points to the Hang Seng Index [2] - Kuaishou-W (01024) and Chow Tai Fook (01929) also saw significant increases of 5.16% and 4.42%, respectively [2] - However, Orient Overseas International (00316) and China Biologic Products (01177) experienced declines, dragging down the index [2] Sector Highlights - Large tech stocks rebounded, with Kuaishou rising over 5% and Meituan and JD.com both increasing over 2% [3] - Stablecoin concept stocks surged, with Jinyong Investment (01328) skyrocketing 533.17% after announcing a partnership with AnchorX [3] - The Macau gaming sector showed strong performance, with total gaming revenue for the first six days of July reaching MOP 4.3 billion, indicating a robust recovery [6] Solar Industry Insights - The solar sector saw strong gains, with New Special Energy (01799) up 12.65% and GCL-Poly Energy (03800) up 10.81% [5] - Recent government meetings emphasized the need to address low-price competition and improve product quality in the solar industry, suggesting potential for supply-side reforms [5] Gaming Sector Developments - Macau's gaming stocks continued to rise, with Wynn Macau (01128) up 6.4% and MGM China (02282) up 3.29% [6] - Morgan Stanley's report indicated that Macau's gaming revenue is expected to see double-digit year-on-year growth in July, marking a cyclical turning point for the industry [6] New Consumption Trends - New consumption stocks performed well, with brands like Blukoo (00325) and Cha Ba Dao (02555) seeing significant increases [6][7] - Gold stocks also rebounded, with Tongguan Gold (00340) rising 6.37% [7] Stablecoin Regulatory Developments - Jinyong Investment announced a strategic partnership with AnchorX to explore potential collaborations in digital asset management and stablecoin applications [4] - The Hong Kong Monetary Authority is consulting the market on regulatory guidelines for stablecoins, with expectations for a limited number of licenses to be issued [4] Logistics Sector Performance - Jitu Express-W (01519) reached a new high, with a reported 23.5% year-on-year increase in package volume for Q2 2025 [9] - The company achieved a total package volume of 139.9 billion for the first half of 2025, reflecting strong growth in the logistics sector [9] AI and Technology Sector Insights - Hongteng Precision (06088) saw an increase of 8.82%, driven by growing demand for AI-related solutions [10] - The company is expected to benefit from its parent group's resources and the increasing demand for AI computing power [10]

Group 1 - The Hang Seng Index rose by 0.78%, gaining 185 points to close at 24,073 points, while the Hang Seng Tech Index increased by 1.29% [1] - The trading volume in Hong Kong reached HKD 117.2 billion in the morning session [1] - Stablecoin-related stocks surged, with Guotai Junan International rising by 16%, Multi-Point Smart increasing by 8%, and OSL Group also up by 8% [1] Group 2 - Jinyong Investment experienced a 150% surge due to a strategic partnership with AnchorX to explore stablecoin applications [2] - Kuaishou-W saw a 3% increase, with institutions expecting the company's Q2 performance to meet market expectations [2] - Gold stocks rebounded in the morning session, with Tongguan Gold rising by 6% and China Gold International increasing by 3.82% [2] Group 3 - Huitongda Network rose over 7% after applying for full circulation of H-shares, which is expected to enhance stock liquidity and investment attractiveness [3] Group 4 - Basestone Pharmaceuticals-B increased by over 4% after granting commercialization rights for Sugli to Gentili in Western Europe and the UK [4] Group 5 - GCL-Poly Energy rose over 9%, with the polysilicon segment potentially becoming a breakthrough point for reversing internal competition, and the company is expected to achieve profitability [5] Group 6 - China Rare Earth Holdings rose over 7% after a failed transaction involving the sale of an Australian gold mine, and plans to spin off its business through an introduction [6] Group 7 - Hon Teng Precision rose by 8.8%, driven by strong performance in AI servers and iPhone business, with Foxconn showing steady growth in Q2 [7] Group 8 - Zhaoyan New Drug increased by over 10%, assisting in the approval of the restructuring of human coagulation factor VIIa for Chengdu Tianqing [8] Group 9 - Steel stocks saw a midday rally, with Chongqing Steel rising by 11%, as institutions expect improvements in industry supply and demand [9]

Group 1 - The Hong Kong gold stocks are experiencing a continuous rebound, with Tongguan Gold (00340.HK) rising over 6% [1] - Other stocks such as China Gold International (02099.HK), Zijin Mining (02899.HK), and Shandong Gold (01787.HK) are also following the upward trend [1]

Group 1 - Hong Kong gold stocks are performing strongly, with Tongguan Gold (00340.HK) rising by 4.90% [1] - Chifeng Gold (06693.HK) increased by 1.80% [1] - Datang Gold (08299.HK) saw a rise of 1.69% [1] - Zhaojin Mining (01818.HK) experienced a gain of 1.62% [1]

Group 1 - Hong Kong gold stocks experienced a decline, with Lingbao Gold (03330.HK) dropping by 9.5% [1] - Tongguan Gold (00340.HK) fell by over 6% [1] - Zhu Feng Gold (01815.HK) decreased by more than 5% [1] Group 2 - Other companies such as Chifeng Jilong Gold Mining (06693.HK), China Gold International (02099.HK), and Zhaojin Mining Industry (01818.HK) all saw declines of over 4% [1]

潼关黄金 20250616 摘要 潼关黄金完成借壳转型，通过收购整合潼关地区及肃北北东矿业金矿集 团资产，显著提升黄金产量和利润，实现跨越式增长。2025 年公司通 过股权收购和与紫金金属达成战略合作，进一步巩固行业地位。 公司董事长为最大单一股东，紫金金属入股持有 3.8,182%股份。主要 经营实体包括祥盛矿业、德鑫矿业、潼关黄金及北东矿业，其中潼关地 区矿业整合已进入收获阶段，为公司带来显著增长。 潼关和肃北地区黄金资源禀赋优异，平均品位分别为 7.46 克/吨和 10.21 克/吨，合计资源量 55 吨，平均品位 8.26 克/吨，高于行业平均 水平，为公司未来产量增长提供坚实基础。 公司内生增长动力来自现有矿脉开发和生产效率提升，外延增长则通过 新矿脉开采和收购实现。甘肃肃北北东矿业黄金产量迅速上升，成为公 司主力金山，预计未来将通过整合和勘探提升产量。 黄金行业处于上升周期，美国经济下行压力和地缘政治风险增加黄金避 险需求，央行持续购金为金价提供支撑。市场预期美国降息将进一步推 高金价。 Q&A 潼关黄金公司近年来的业绩表现如何？ 潼关黄金公司在 2024 年实现了业绩的快速释放和兑现，标志着其进 ...

Investment Rating - The report assigns a "Buy" rating to the company, with a target price of HKD 2.67 per share, based on the company's strong growth potential in gold mining and favorable market conditions [3][6]. Core Insights - The company has shown significant growth in gold production and profitability, with a projected increase in gold output to 2.5 tons in 2024, marking a historic high for the company [1][3]. - The company benefits from high-grade gold mines, with a total gold resource of 55 tons and an average grade of 8.26 g/t, indicating strong potential for both organic and external growth [2][28]. - The company's revenue is expected to grow significantly, with forecasts of net profit reaching HKD 681 million in 2025, driven by increased gold production and favorable gold prices [3][5]. Summary by Sections Company Overview - The company has been in operation for nearly ten years, officially entering the gold mining business in 2017 through acquisitions of several mining companies [1][9]. - The company completed a significant acquisition in July 2023, which is expected to lead to a leap in gold production [1][9]. Financial Performance - In 2024, the company achieved revenue of HKD 1.513 billion, a year-on-year increase of 7.19%, primarily due to a reduction in gold recycling business [3][17]. - The gold mining segment saw revenue growth from HKD 582 million to HKD 1.229 billion, contributing significantly to overall profits [3][17]. - The net profit for 2024 is projected to increase by 250% to HKD 198 million, driven by higher gold prices and production [3][17]. Resource and Growth Potential - As of the end of 2024, the company holds a total gold resource of 55 tons, with the highest grade found in the Subei County mine at 10.21 g/t [2][28]. - The company has significant exploration potential in both the Tongguan and Subei mining areas, with ongoing efforts to convert exploration licenses into production [2][28]. - The company is positioned to benefit from local government initiatives aimed at consolidating mining resources and promoting efficient mining practices [51][52]. Future Outlook - The company is expected to continue its growth trajectory, with forecasts indicating net profits of HKD 681 million, HKD 843 million, and HKD 1.085 billion for 2025, 2026, and 2027 respectively [3][5]. - The anticipated increase in gold production and favorable market conditions are expected to drive revenue growth, with a projected increase in earnings per share (EPS) from HKD 0.15 in 2025 to HKD 0.25 in 2027 [3][5].

Core Viewpoint - The article discusses the volatility of gold prices around the $3,300 per ounce mark, driven by U.S. tariff policies and economic conditions, highlighting the ongoing tug-of-war between bullish and bearish market sentiments [1][2]. Group 1: Market Dynamics - On June 2, gold prices broke through the $3,300 resistance level, with COMEX gold futures reaching a high of $3,384 per ounce, marking a daily increase of over 2%, the largest single-day gain in nearly three weeks [1]. - The recent surge in gold prices is attributed to President Trump's announcement of increasing tariffs on imported steel from 25% to 50%, which has led to a rebound in gold as a safe-haven asset [1]. - Gold has experienced significant price fluctuations at the $3,300 level this year, previously hitting a historical high of $3,509 in April before dropping to $3,245 due to profit-taking and easing geopolitical tensions [1]. Group 2: Technical Analysis - The $3,300 level has been a focal point for market participants, with recent price movements indicating a struggle between bulls and bears [2]. - The volatility in gold prices is exacerbated by the fluctuating tariff policies of the Trump administration and the market's expectations regarding potential interest rate cuts by the Federal Reserve [2]. Group 3: Fund Flows and Economic Indicators - Recent data from the CFTC shows an increase in non-commercial net long positions in COMEX gold futures by 10,203 contracts, bringing the total to 174,184 contracts, which represents 39.8% of total positions [3]. - The total open interest decreased by 10,462 contracts or 2.34%, with 294 total traders in the market [3]. - Economic indicators reveal challenges for the U.S. economy, including a rise in initial jobless claims and a significant decline in corporate profits, which fell by $118.1 billion in Q1 2025, the largest drop since Q4 2020 [3]. Group 4: Long-term Outlook - The long-term outlook suggests that the Federal Reserve's interest rate cut cycle is still in play, with expectations of three rate cuts within the year, which could benefit gold prices [4].