Group 1 - The core viewpoint of the news highlights a collective decline in Hong Kong's non-ferrous metal stocks, with significant drops observed in companies such as China Nonferrous Mining, China Aluminum, and China Hongqiao, among others [1] - The report mentions a strategy proposed by Bank of America, suggesting investment in non-AI tech stocks that benefit from the AI boom, focusing on sectors like electrification, infrastructure, and metals [1] - Bank of America identifies metals such as copper, silver, lithium, aluminum, and nickel as key beneficiaries of the growing demand driven by the restructuring of energy infrastructure across economies [1] Group 2 - Specific stock performance data shows China Nonferrous Mining down 7.26%, China Aluminum down 4.62%, and China Hongqiao down 4.60%, among others, indicating a broader trend of declines in the sector [2] - Other notable declines include Luoyang Molybdenum down 4.59%, Lingbao Gold down 4.29%, and Chifeng Jilong Gold down 4.09%, reflecting a significant downturn in the non-ferrous metal market [2] - The overall trend indicates that multiple companies in the non-ferrous metal sector, including Jiangxi Copper and Zijin Mining, experienced declines of over 3%, suggesting a challenging market environment [2]

Core Insights - Liaoning Province has 1,077 valid mining rights and 309 valid exploration rights as of November 2025, with a mining workforce exceeding 100,000 and a total mining output value of 69.7 billion yuan, ranking ninth nationally [1] - The implementation of the new Mineral Resources Law since July 1, 2025, has led to significant improvements in mining rights management and approval processes, enhancing clarity, convenience, efficiency, and transparency [1] Group 1: Training and Public Awareness - A specialized training session was organized by the Liaoning Provincial Organization Department to enhance the understanding of the new law, involving over 140 officials from municipal and county governments [3] - The Natural Resources Department conducted training for over 900 personnel and facilitated video learning for more than 2,000 individuals at the municipal and county levels [3] - Various promotional activities were undertaken, including the creation of a mind map for the new law and extensive public outreach through online platforms [3] Group 2: Approval Process Reform - The approval model has shifted from a sequential to a parallel process, allowing enterprises to submit applications directly to the provincial level via the government service network [5] - The number of departments involved in provincial-level mining rights review has been reduced, streamlining the process to eight provincial, four municipal, and five county-level departments [5] - The approval process has transitioned to an online system, enabling "one-stop" services where enterprises can submit electronic materials and track their application status in real-time [5] Group 3: Internal Supervision and Support - A detailed internal supervision system has been established to ensure consistent standards across provincial, municipal, and county levels, with automatic reminders for pending approvals [6] - Technical teams have been deployed to assist enterprises in preparing application materials, improving submission quality and reducing errors [6] - The department has conducted 262 on-site policy clarification sessions to address enterprise concerns and enhance service delivery [6] Group 4: Transition and Legislative Updates - A transitional announcement has been issued to clarify the standards and processes for mining rights services during the transition period, preventing policy gaps [7] - The approval system has been restructured to separate mining rights from administrative licenses, with the first mining rights property certificate issued on September 15, 2025 [8] Group 5: Exploration Rights Cleanup - Since 2024, the department has initiated a cleanup of expired exploration rights, establishing a work ledger to track progress and responsibilities [10] - Ongoing supervision has been implemented to ensure timely exploration activities, with 495 exploration rights cleaned up to date [10] - There are currently 50 exploration rights undergoing the cancellation public notice process, with further cleanup efforts planned [10]

Market Overview - The A-share market opened lower and experienced fluctuations, with the Shanghai Composite Index testing the 4100-point support level. The North Stock 50 and Sci-Tech 50 also saw declines, while the Shenzhen Component Index and ChiNext Index rebounded towards the end of the trading session. The total market turnover was 2.94 trillion yuan [1]. Sector Performance - The semiconductor, rubber, glass fiber, and non-ferrous metal sectors showed significant gains, while commercial aerospace, e-commerce, short drama games, and diversified finance sectors faced notable declines [1]. - The electronic industry attracted over 16.8 billion yuan in net inflows from major funds, while the basic chemicals sector saw over 9.6 billion yuan and the non-ferrous metals sector over 8.2 billion yuan in net inflows. Conversely, the computer sector experienced a net outflow exceeding 16 billion yuan, with defense, non-bank finance, pharmaceuticals, and banking also facing net outflows [3]. Future Outlook - According to Huajin Securities, the fundamental recovery remains weak, but liquidity is relatively ample, and external risks are limited, suggesting that the spring market rally is not over. The economy is expected to continue its weak recovery trend, with potential upward momentum in the profitability growth of technology and cyclical sectors. The central bank may further cut reserve requirements and interest rates in the short term, with market liquidity remaining robust due to strong capital inflows and trading volumes approaching 4 trillion yuan [3]. - The semiconductor industry, particularly the chip supply chain, saw a strong performance in the afternoon session, with the photolithography machine sector leading the gains. Notable stocks such as Dongcai Technology and Qicai Chemical hit the daily limit, while Shanghai Xinyang and Su Da Weige also saw significant increases [3]. Semiconductor Market Insights - TrendForce's latest report indicates that due to a large-scale shift to advanced processes by DRAM manufacturers to meet AI server demands, the supply of conventional DRAM is expected to tighten significantly, with contract prices projected to increase by 55%-60% quarter-on-quarter in Q1 2026. NAND Flash prices are also expected to rise by 33%-38% due to capacity control by manufacturers [5]. - The International Semiconductor Industry Association anticipates continued growth in global semiconductor manufacturing equipment sales, driven by investments in artificial intelligence, with sales expected to reach $145 billion and $156 billion in 2026 and 2027, respectively [5]. - According to Founder Securities, the gap between domestic storage capacity and global leaders is narrowing through "scale production," providing a golden opportunity for upstream companies in equipment and materials [5]. Commercial Aerospace Sector - The commercial aerospace concept stocks experienced significant declines, with companies like Guobo Electronics and Xinghuan Technology hitting the daily limit down. Several other stocks, including Zhaisheng Technology and Daye Shares, have faced three consecutive days of limit downs, with over 40 stocks dropping by more than 10% [6].

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Group 1 - The core viewpoint of the news is that copper mining stocks in Hong Kong have seen significant gains, driven by a surge in copper prices to historical highs and concerns over potential tariffs on copper imports by the Trump administration [1] - On January 14, copper prices reached an all-time high, prompting traders to expedite shipments to the U.S. before new tariffs could be implemented, which may lead to supply shortages in other regions [1] - Bohai Securities indicated that market sentiment related to resource competition is significantly impacting current copper prices, suggesting that if short-term enthusiasm does not dissipate, copper prices may remain high and volatile [1] Group 2 - Specific stock performances include: - WanGuo Gold Group increased by 8.82% to 12.590 - Jiangxi Copper Co. rose by 4.36% to 48.320 - Minmetals Resources gained 3.93% to 10.050 - China Gold International increased by 3.77% to 189.800 - Luoyang Molybdenum Co. rose by 2.96% to 22.920 - China Nonferrous Mining Corporation increased by 2.69% to 16.400 - 34th Year Salary rose by 0.74% to 41.100 [2]

Group 1 - Minmetals Resources (01208.HK) saw an early morning increase of over 4%, with a current rise of 4.14%, trading at HKD 10.07 [1] - The trading volume reached HKD 273 million [1]

Group 1 - The core viewpoint of the article highlights that copper prices have recently reached historical highs, with expectations that the upward trend will continue, potentially reaching $13,000 per ton, indicating a strong outlook for copper in the coming years [1] - Citic Construction believes that the non-ferrous metal market is fundamentally about the pricing of the global new and old order transition, suggesting that copper will take over from gold and silver, and that the copper market is not yet finished [1] - The article mentions that after reaching historical highs, copper prices are entering a technical correction phase, influenced by profit-taking and weak realities, but structural demand continues to provide strong support for copper prices [1] Group 2 - Galaxy Securities reports that Minmetals Resources serves as the core overseas mineral resource operation platform for Minmetals Group, focusing on the upstream mining of basic metals such as copper and zinc [1] - The company operates three copper mines and two zinc mines in Peru, the Democratic Republic of the Congo, Botswana, and Australia, with plans to acquire Brazilian nickel assets by 2025 to enhance revenue, geographic, and metal diversification [1] - The report indicates that the production release from the company's three major copper mines is highly certain, and in the context of a rising copper price cycle, profit elasticity is expected to be fully realized [1]

Group 1 - The core viewpoint of the article highlights that copper prices have recently reached historical highs, with expectations for continued growth in the copper market, suggesting that the current price rally is not yet over [1] - Citic Securities believes that the copper market will continue to thrive, with a potential price target of $13,000 per ton, indicating a positive outlook for copper prices through 2026 [1] - The article mentions that while copper prices may experience a technical correction in the short term due to profit-taking and weak market realities, structural demand will provide strong support for prices [1] Group 2 - Minmetals Resources is identified as the core overseas mineral resource operation platform of Minmetals Group, focusing on upstream mining of basic metals such as copper and zinc [1] - The company operates three copper mines and two zinc mines in regions including Peru, the Democratic Republic of Congo, Botswana, and Australia, with plans to acquire Brazilian nickel assets by 2025 to enhance revenue and diversify its geographical and metal portfolio [1] - According to Galaxy Securities, the production capacity of the company's three major copper mines is expected to be reliably released, and profit elasticity is anticipated to be fully realized in the context of a rising copper price cycle [1]

Group 1 - The core viewpoint of the article highlights that Minmetals Resources (01208) has seen a significant increase in stock price, rising over 4% due to the recent surge in copper prices, which have reached historical highs [1] - Citic Securities believes that the copper market is undergoing a transition in global pricing dynamics, suggesting that the copper price rally is not over and could reach $13,000, with a positive outlook for copper prices through 2026 [1] - The article mentions that while copper prices may experience a technical correction in the short term due to profit-taking and weak realities, structural demand continues to provide strong support for copper prices [1] Group 2 - Galaxy Securities reports that Minmetals Resources serves as the core overseas mineral resource operation platform for Minmetals Group, focusing on the upstream mining of copper, zinc, and other base metals [1] - The company operates three copper mines and two zinc mines in regions including Peru, the Democratic Republic of Congo, Botswana, and Australia, with plans to acquire Brazilian nickel assets by 2025 to enhance revenue, geographic, and metal diversification [1] - The report indicates that the production capacity of the company's three major copper mines is expected to be reliably released, and in the context of a rising copper price cycle, profit elasticity is anticipated to be fully realized [1]

於二零二六年一月十三日，KCM 與五礦愛邦就 KCM 銷售該產品訂立銷售協議。 據上市規則，五礦愛邦為本公司的關連人士。因此，該銷售協議構成本公司之持續關連交 易。 由於銷售協議項下年度之最高交易價值之所有相關百分比率超過 0.1%但低於 5%，該銷售協 議項下的交易構成持續關連交易，須遵守申報、年度審核及公告規定，惟獲豁免遵守上市規 則第十四 A 章之獨立股東批准之規定。 KHOEMACAU 銅精礦銷售協議 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之內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不就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之 任何損失承擔任何責任。 MMG LIMITED 五礦資源有限公司 （於香港註冊成立之有限公司） （股份代號：1208） 持續關連交易 KHOEMACAU銅精礦銷售協議 建議年度上限 截至二零二六年及二零二七年十二月三十一日止財政年度各年於銷售協議項下之年度上限如 下︰ 作為日常及一般業務過程之一部分，本集團向中國五礦集團的成員銷售產品。 於二零二六年一月十三日，KCM 與五礦愛邦簽訂銷售協議，涉及該產品的銷售。該銷售協議 ...