智通财经APP获悉，有色股逆市走高，截至发稿，中国宏桥(01378)涨4.96%，报25.4港元；江西铜业股 份(00358)涨4.43%，报25.46港元；中国铝业(02600)涨3.49%，报7.11港元；洛阳钼业(03993)涨3.14%， 报12.49港元。 中信建投则表示，美联储议息会议前最关键的数据美国非农就业数据表现显著低于预期，9月16-17日议 息会议宣布降息几无悬念，同时年内降息3次的概率接近80%。该行指出，工业金属价格由"金融属 性"及"商品属性"共同决定，从金融属性来看，美联储已开启降息周期；从商品属性来看，全球铜铝库 存均处于相对低位，中国经济复苏可期，叠加新能源行业的拉动，铜铝需求增长将有所好转。 长江证券发布研报称，2025上半年基本金属板块净利润同比增长27%，2025年二季度基本金属板块实现 净利润376.44亿元，同比增长14%，环比增长15%。2025上半年同比增长得益于中美制造业阶段性共振 向上及联储降息预期致使2025上半年基本金属商品价格中枢抬升。2025二季度环比增长主要系关税交易 逐步缓和，叠加风光抢装、以旧换新政策刺激、出口抢装等强产业现实表现，商品价格回升 ...

（文章来源：证券日报） 证券日报网讯 9月8日晚间，江西铜业发布公告称，公司2025年半年度业绩说明会定于2025年9月16日 （星期二）09：00—10：00在上海证券交易所上证路演中心以网络互动方式召开。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 關於召開2025年半年度業績說明會的公告 江 西 銅 業 股 份 有 限 公 司（「本公司」）及 董 事（「董 事」）會（「董事會」）全 體 成 員 保證本 公 告內容 的 真 實、準 確 和 完 整，對 本 公 告 的 虛 假 記 載、誤 導 性 陳述或者重大遺漏負連帶責任。 本公告乃本公司根據香港聯合交易所有限公司證券上市規則第13.10B 條 作 出。 重 要 內 容 提 示： 一. 說明會類型 – 1 – • 本公司2025年 半 年 度 業 績 說 明 會（「說明會」）召 開 時 間：二 零 二 五 年 九 月 十 六 日（星 期 二）09:00-10:00。 • 說 明 會 召 開 方 式： 說 明 會 通 過 上 海 證 券 交 易 所 上 證 路 演 中 心 （https://roadshow.sseinfo.com/） ...

| | | 债券代码：137816 债券简称：22 江铜 01 债券代码：243700 债券简称：25 江铜 K1 江西铜业股份有限公司关于 召开 2025 年半年度业绩说明会的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告 的虚假记载、误导性陈述或者重大遗漏负连带责任。 重要内容提示： 会议召开时间：2025 年 9 月 16 日（星期二）09:00— 10:00 会议召开方式：本次说明会通过上海证券交易所上证路演 中心（https://roadshow.sseinfo.com/）以网络互动方式召开。 一、说明会类型 江西铜业股份有限公司（以下简称公司）已于 2025 年 8 月 29 日发布了《江西铜业股份有限公司 2025 年半年度报告》。为使广大 投资者更加全面、深入地了解公司情况，公司决定召开业绩说明会， 就投资者关心的问题进行交流。 二、说明会召开的时间、地点 说明会定于 2025 年 9 月 16 日（星期二）09:00—10:00 上海证 券交易所上证路演中心（https://roadshow.sseinfo.com/）以网络 互动方式召开。 东阳先生。 四、投资者参加方式 ...

美联储降息对有色金属是"三重推力"： 1. 美元贬值直接助推：美元指数每下跌1%，铜、铝等工业金属价格平均上涨2.3%。当前LME铜价已突破9700美元/吨，降息后有望突破10500美元。 2. 融资成本大幅降低：全球资金成本下降直接减轻矿业巨头财务压力（如紫金矿业资本开支弹性增强）。 3. 通胀交易卷土重来：降息周期中黄金作为抗通胀工具配置价值凸显，2025年一季度全球黄金ETF流入量同比激增170%。COMEX金价已突破3600美元/盎 司，沪金主力合约或触及780元/克。 老铁们，帮主今天必须提醒你们盯紧一个确定性机会——美联储9月降息概率飙升至99%！这是自2024年12月以来首次降息，全球流动性闸门即将重启。历 史总是惊人相似：2015年大牛市"眉飞色舞"行情中，江西铜业从3块涨到近100块！这次降息周期开启，有色金属板块势必成为爆发中心。但别盲目追高！帮 主用20年经验总结的"三筛铁律——估值筛、基本面筛、风口筛"，今天带你挖出真正能穿越周期的硬核标的！ 一、风口筛：为什么降息必炒有色？ 但！不是所有有色股都能涨： • 黄金股优先关注山东黄金（矿产金成本较行业低15%）、中金黄金（集团资源注入预期 ...

Core Viewpoint - UBS reports that the performance of non-ferrous metal companies in the first half of the year remains robust, with Luoyang Molybdenum and Zijin Mining leading with profit growth exceeding 50% [1] Group 1: Company Performance - Luoyang Molybdenum and Zijin Mining show strong profit growth of over 50% [1] - China Hongqiao and Jiangxi Copper follow, while China Aluminum and Tianshan Aluminum's profits remain relatively flat [1] Group 2: Industry Trends - The copper industry focuses on mergers and acquisitions, production growth, and niche metal business expansion [1] - The aluminum sector emphasizes dividend distribution and share buybacks [1] Group 3: Earnings Forecast Adjustments - UBS raises full-year profit forecasts for Zijin Mining, Luoyang Molybdenum, and Jiangxi Copper by 6%, 11%, and 26% respectively [1] - The target prices for Zijin Mining and Luoyang Molybdenum are increased to HKD 32.5 and HKD 16.5 respectively [1] - Jiangxi Copper's rating is upgraded to "Buy" with a target price raised to HKD 27.1 [1] Group 4: Preferred Stocks - China Hongqiao remains UBS's top pick in the aluminum sector due to its potential for deleveraging and commitment to shareholder returns, maintaining a target price of HKD 26.8 and a "Buy" rating [1]

Group 1 - The core point of the article highlights the performance of the Commodity ETF (510170), which opened down 0.73% at 1.088 yuan on September 4 [1] - The major holdings of the Commodity ETF include Dongyangguang, which rose by 2.56%, and several other companies such as Luoyang Molybdenum, Zijin Mining, and Huayou Cobalt, which experienced slight declines [1] - The performance benchmark for the Commodity ETF is the Shanghai Commodity Stock Index, managed by Guolian An Fund Management Company, with a return of 36.36% since its inception on November 26, 2010, and a return of 12.14% over the past month [1]

Group 1 - A total of 91 stocks reached a 52-week high as of September 3, with the top three being Brightsun Holdings (08603), Hualian International (00969), and Shuoao International (02336), achieving high rates of 109.42%, 59.09%, and 45.10% respectively [1] - Brightsun Holdings closed at 2.100, with a peak price of 4.000, marking a significant increase of 109.42% [1] - Hualian International and Shuoao International also showed strong performance, closing at 0.250 and 0.212, with peak prices of 0.350 and 0.370, reflecting increases of 59.09% and 45.10% respectively [1] Group 2 - Other notable stocks that reached new highs include Tianrui Automotive Interior (06162) with a high rate of 26.58%, and Saint Noble Pharmaceuticals - B (02257) with a high rate of 24.40% [1] - International Commercial Settlement (00147) and Clover Biotech - B (02197) also performed well, achieving high rates of 24.07% and 23.44% respectively [1] - The data indicates a strong upward trend in the stock market, with several companies showing significant growth in their stock prices [1] Group 3 - The report also highlights stocks that reached 52-week lows, with Ronghui Holdings (08213) showing the largest decline at -13.79% [3] - Other companies experiencing declines include Global Friendly Drink Smart (08496) and Junan Holdings (01559), with decreases of -6.12% and -5.97% respectively [3] - The presence of both high-performing and low-performing stocks suggests a mixed market environment, indicating varying levels of investor confidence across different sectors [3]

Core Viewpoint - The A-share market shows signs of recovery with the Shanghai Composite Index slightly rising, while the metal sector, particularly non-ferrous metals, experiences significant inflows due to multiple favorable factors including rising global inflation expectations, accelerated de-dollarization, and expectations of interest rate cuts [1][8]. Non-Ferrous Metals Sector - The non-ferrous metal sector has seen continuous capital inflow for four consecutive days, with the Non-Ferrous 50 ETF (159652) attracting over 200 million yuan in this period, indicating strong market interest [1]. - The Non-Ferrous 50 ETF's constituent stocks have shown mixed performance, with precious metals like silver and gold stocks experiencing strong gains, while some stocks like China Rare Earth and Luoyang Molybdenum have faced corrections [3][4]. Precious Metals - Spot gold prices surged, breaking through $3,545 per ounce, while COMEX gold reached a new high of $3,600 per ounce, reflecting strong market demand [5]. - The upward trend in gold prices is attributed to multiple uncertainties in the market, including legal changes in trade policies and rising long-term bond yields, which have heightened risk aversion among investors [7]. Market Outlook - Analysts predict that the combination of reduced supply of copper and the upcoming demand season will support copper prices, with expectations of a significant decrease in production due to supply chain constraints [8]. - The Non-Ferrous 50 ETF is highlighted as a leading investment option in the non-ferrous metals sector, with a historical cumulative return of 140% from 2019 to August 2025, driven primarily by profit growth rather than valuation expansion [8].

Group 1 - The company's net profit attributable to shareholders for H1 2025 increased by 15.4% year-on-year, reaching 4.17 billion yuan, despite a 5.9% decline in operating revenue to 257 billion yuan due to a proactive reduction in trading business [1] - The increase in profit is primarily attributed to rising copper prices, as well as higher prices for precious metals (gold and silver) and by-product sulfuric acid [1] - The company successfully launched the Bakuta tungsten mine in Kazakhstan, which is the largest open-pit tungsten mine globally, with a resource of 233,000 tons of tungsten trioxide and a reserve of 145,000 tons [1] Group 2 - The company is the largest shareholder of First Quantum, a copper-focused mining company with proven and controlled copper resources of 35.5 million tons and six operating copper mines globally [2] - The Panama copper mine, which is expected to resume production in the second half of 2026, had an annual production capacity of 500,000 tons before its suspension, with significant profitability in previous years [2] - Starting in 2024, the company will convert its investment in First Quantum from a financial instrument to a long-term equity investment, which could significantly enhance its profits if the Panama copper mine resumes production [2] Group 3 - The company is expected to achieve operating revenues of 326.9 billion yuan, 331.5 billion yuan, and 331.5 billion yuan from 2025 to 2027, with net profits attributable to shareholders of 8.11 billion yuan, 8.94 billion yuan, and 9.62 billion yuan respectively [4] - The company has a low-cost domestic large open-pit copper mine, stable profitability, and is set to benefit from the production ramp-up of the world's largest open-pit tungsten mine and the recovery of First Quantum [4] - The reasonable valuation range for the company is estimated to be between 35.1 and 37.4 yuan, indicating a potential upside of 26% to 34% relative to the current stock price [4]