Group 1 - The core viewpoint of the news is the performance and details of the Penghua Hong Kong Stock Connect Low Volatility Dividend ETF (159117), which closed down 0.39% with a trading volume of 11.5764 million yuan on December 10 [1] - The fund was established on September 30, 2025, with an annual management fee of 0.30% and a custody fee of 0.10% [1] - The performance benchmark for the ETF is the S&P Hong Kong Stock Connect Low Volatility Dividend Index return (adjusted for exchange rates) [1] Group 2 - As of December 9, the latest share count for the ETF is 158 million shares, with a total size of 163 million yuan [2] - Over the last 20 trading days, the ETF has accumulated a trading amount of 119 million yuan, with an average daily trading amount of 5.9549 million yuan [2] - The current fund managers are Yan Dong and Yu Zhanchang, both managing the fund since September 30, 2025, with a return of 5.39% during their tenure [2] Group 3 - The latest report indicates that the ETF's top holdings include Hang Lung Properties, Jiangxi Copper, China Shenhua, Far East Horizon, CNOOC, Sino Land, PetroChina, Hengan International, Henderson Land, and Bank of China Hong Kong, with specific holding percentages detailed [3] - The top holdings and their respective percentages are as follows: Hang Lung Properties (1.08%), Jiangxi Copper (1.08%), China Shenhua (1.05%), Far East Horizon (0.99%), CNOOC (0.96%), Sino Land (0.94%), PetroChina (0.87%), Hengan International (0.87%), Henderson Land (0.81%), and Bank of China Hong Kong (0.81%) [3]

Group 1 - The core viewpoint of the report indicates that the non-ferrous metal industry index increased by 8.89% over the past two weeks, outperforming the CSI 300 index and ranking second among 31 Shenwan first-level industries [1] - In the sub-sectors, industrial metals led the gains with a 12.91% increase, followed by small metals (6.77%), precious metals (5.28%), and metal new materials (7.71%), while energy metals saw a modest rise of 0.37% [1] Group 2 - As of December 5, COMEX gold closed at $4,227.70 per ounce, up 4.06% over the past two weeks, while LME copper settled at $11,645.50 per ton, reflecting an 8.98% increase [2] - COMEX silver experienced a significant rise of 18.41%, closing at $58.80 per ounce, and LME aluminum increased by 3.60%, closing at $2,865 per ton [2] - The Chinese rare earth price index rose by 3.16% to 213.26, with light rare earths like praseodymium-neodymium oxide increasing by 6.29% to 583,000 yuan per ton [2] Group 3 - Jiangxi Copper Company has made two non-binding cash offers to acquire all shares of SolGold Plc at a price of 26 pence per share, currently holding 12.19% of the target company's issued shares [3] Group 4 - In December, attention should be paid to the Federal Reserve's interest rate policies, geopolitical changes in major resource-exporting countries, and the recovery of domestic downstream demand, with a focus on investment opportunities in the "resources + growth" dual track [4]

Investment Rating - The report maintains a "Hold" rating for the industry [7] Core Insights - The non-ferrous metals industry index increased by 8.89% over the past two weeks, outperforming the CSI 300 index and ranking second among 31 primary industries [2][13] - Industrial metals led the gains with a 12.91% increase, while energy metals, precious metals, and minor metals also saw varying degrees of growth [2][13] - Significant price increases were noted in silver, which rose by 18.41%, and copper, which increased by 8.98% [3][19] Summary by Sections Market Review (2025.11.24-2025.12.05) - The non-ferrous metals industry index rose by 8.89%, outperforming the CSI 300 index [2][13] - Industrial metals saw the highest increase at 12.91%, followed by metal new materials at 7.71%, precious metals at 5.28%, and minor metals at 6.77% [2][13] Precious Metals - As of December 5, COMEX gold closed at $4,227.70 per ounce, up 4.06% over two weeks, and up 58.27% year-to-date [20] - COMEX silver closed at $58.80 per ounce, up 18.41% over two weeks, and up 96.07% year-to-date [20][23] - The report suggests focusing on companies like Shandong Gold, Zhongjin Gold, and Hunan Gold due to the rising gold and silver prices driven by geopolitical tensions and Fed rate cut expectations [20][23] Industrial Metals - LME copper closed at $11,645.50 per ton, up 8.98% over two weeks, and up 34.07% year-to-date [27] - Domestic copper prices averaged 91,990 yuan per ton, up 7.33% over two weeks [27] - The report highlights strong demand from the renewable energy sector and suggests focusing on companies like Zijin Mining, Jiangxi Copper, and Luoyang Molybdenum [27] Minor Metals - Black tungsten concentrate (≥65%) was priced at 352,000 yuan per ton, up 6.99% over two weeks, and up 146.15% year-to-date [34] - LME tin was priced at $40,175 per ton, up 8.67% over two weeks, and up 41.16% year-to-date [34] - The report recommends companies like Xiamen Tungsten and Hunan Tin due to the strong performance in tungsten and tin markets [34] Rare Earths - The rare earth price index was at 213.26, up 3.16% over two weeks, and up 30.21% year-to-date [45] - Prices for praseodymium-neodymium oxide rose to 583,000 yuan per ton, up 6.29% over two weeks [45] - The report suggests monitoring companies like China Rare Earth and Northern Rare Earth due to market dynamics [46] Energy Metals - Electrolytic cobalt averaged 413,500 yuan per ton, up 4.29% over two weeks, and up 189.16% year-to-date [54] - Lithium carbonate (99.5% battery grade) averaged 93,250 yuan per ton, up 1.03% over two weeks, and up 24.17% year-to-date [54] - The report indicates a focus on companies involved in cobalt and lithium production due to rising prices [54]

本报讯 （记者李婷）12月5日，海安橡胶集团股份公司（以下简称"海安集团"）顺利举行系列重要签约 仪式。此次集中签约仪式，涵盖长期轮胎供应、年度采购计划及专项项目合作等多个领域。签约企业包 括欧洲最大磷矿、西非最大采矿承办商等全球行业领军企业。莆田市委书记付朝阳、市长戴龙成、市人 大常委会主任苏永革、市政协主席沈萌芽、市宣传部长陈惠黔等政府领导出席当日签约仪式。 海安集团与江西铜业集团从产品定制到一体化承包服务的合作模式，体现了其提供全生命周期解决方案 的综合能力。这种深度融合的服务模式也正在复制到国际合作伙伴中，助力海安集团构建覆盖全球的高 效服务网络。 未来，海安集团将继续秉持"品质为先、服务至上"的理念，为全球客户提供高性能轮胎产品与全生命周 期服务，与合作伙伴携手共创可持续价值，推动行业技术进步，促进国际经贸合作与产业协同发展。 站在新的发展起点上，海安集团将继续以技术创新为驱动，以客户需求为导向，深化全球市场布局，推 动行业进步。 （编辑 张明富） 本次签约是海安集团在深交所上市后的又一重要里程碑，是企业国际化战略布局落地的重要标志，展现 了该公司在全钢巨胎领域不断突破、走向世界的坚定步伐。 在持续 ...

Group 1 - The Hang Seng Index fell by 0.84%, down 215 points, closing at 25,549 points, while the Hang Seng Tech Index dropped by 1.32% [1] - The trading volume in the Hong Kong stock market reached HKD 107.8 billion in the morning session [1] - Optical communication stocks surged, driven by increased demand for high-speed optical transceiver modules, with institutions predicting a significant rise in shipment volumes next year [1] Group 2 - Notable gainers included Hongteng Precision, which rose by 7.95%, and Changfei Optical Fiber, which increased by 4.57% [1] - Zhaoyan New Drug saw an increase of over 8% due to a surge in the price of experimental monkeys, with institutions indicating a potential widening supply-demand gap [1] - The stock of Excellence Education, a provider of digital solutions for higher education, rose over 16% on its second day of trading, with its market value approaching HKD 10 billion [1] Group 3 - Oil stocks collectively declined, with geopolitical events weakening support for oil prices, although institutions remain optimistic about the long-term investment value of major oil companies [1] - PetroChina fell by 3%, Sinopec by 2.21%, and CNOOC by 2.32% [1] Group 4 - The non-ferrous metals sector faced significant declines, with Jiangxi Copper down 5.96%, Luoyang Molybdenum down 6.27%, and China Aluminum down 5.34% due to market concerns over central banks' interest rate policies [2] - Silver Noble Pharmaceuticals saw a drop of over 14%, with a cumulative decline of 25% since entering the market [2] Group 5 - Ocean Park Corporation's stock fell by 9%, reaching a new low for the year, amid financial product repayment issues faced by its controlling shareholder [3]

（文章来源：每日经济新闻） 每经AI快讯，港股有色股跌幅居前。截至发稿，江西铜业股份(00358.HK)跌6.57%，报33.56港元；洛阳 钼业(03993.HK)跌6.27%，报17.93港元；中国铝业(02600.HK)跌4.73%，报10.88港元；紫金矿业 (02899.HK)跌4.54%，报32.4港元。 ...

Group 1 - The article highlights a significant decline in the prices of non-ferrous stocks, with Jiangxi Copper Co. falling by 6.57% to HKD 33.56, Luoyang Molybdenum Co. down 6.27% to HKD 17.93, China Aluminum Corporation decreasing by 4.73% to HKD 10.88, and Zijin Mining Group dropping 4.54% to HKD 32.4 [1] - Market expectations indicate that the Bank of Japan may adjust its interest rate hike pace, while the European Central Bank's executive Schnabel's hawkish remarks have led to increased market speculation about rate hikes next year [1] - Analysts suggest that the market has largely priced in the Federal Reserve's expected rate cut this week, but investors believe that the policy statement and Chairman Powell's comments may indicate a higher threshold for further rate cuts [1] Group 2 - Dongfang Securities previously noted that the current rate cut cycle may signal the arrival of a super cycle for industrial metals, particularly copper and aluminum [1] - The firm is optimistic about the demand for copper driven by U.S. electricity investments by 2026, as well as the demand for aluminum spurred by energy storage and alternative needs [1] - The anticipated significant rise in industrial metal prices is expected to influence inflation expectations, leading to a recommendation to focus on the copper and aluminum sectors [1]

Group 1 - The core viewpoint of the article indicates a decline in the Hong Kong stock market for non-ferrous metal stocks, with significant drops in share prices for several companies [1] Group 2 - Jiangxi Copper Co., Ltd. (00358.HK) experienced a decrease of 6.35% [1] - Luoyang Molybdenum Co., Ltd. (03993.HK) saw a decline of 4.75% [1] - Zijin Mining Group Co., Ltd. (02899.HK) dropped by 4.54% [1] - Zhaojin Mining Industry Company Limited (01818.HK) fell by 4.49% [1]

（文章来源：每日经济新闻） 每经AI快讯，12月9日，有色金属概念股早盘走低，闽发铝业、精艺股份跌超5%，罗平锌电、电工合 金、常铝股份、江西铜业、中国铝业等跌超3%。 ...

有色金属概念股早盘走低，闽发铝业、精艺股份跌超5%，罗平锌电、电工合金、常铝股份、江西铜 业、中国铝业等跌超3%。 ...