Core Viewpoint - The China Securities Hong Kong 300 Raw Materials Index has shown significant growth, with a 66.50% increase year-to-date, indicating strong performance in the raw materials sector [1]. Group 1: Index Performance - The China Securities Hong Kong 300 Raw Materials Index reported a value of 2721.61 points [1]. - The index has increased by 16.75% over the past month and 41.99% over the last three months [1]. Group 2: Index Composition - The top ten holdings in the index include Zijin Mining (25.69%), China Hongqiao (11.83%), and Luoyang Molybdenum (7.66%) [1]. - The index is composed entirely of stocks listed on the Hong Kong Stock Exchange, with a 100% representation [1]. Group 3: Sector Breakdown - The index's sample composition shows that non-ferrous metals account for 79.48%, non-metallic materials for 14.17%, chemicals for 4.69%, and paper and packaging for 1.66% [2]. - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2].

Group 1 - Gold stocks generally weakened, with Lingbao Gold down 4% at HKD 11.03, Chifeng Gold down 2.82% at HKD 24.1, Shandong Gold down 2.79% at HKD 26.46, China Gold International down 2.52% at HKD 79.25, and Zijin Mining down 2.13% at HKD 22.98 [1] - The market is awaiting Federal Reserve Chairman Powell's public speech later this week, while also monitoring the potential easing of Eastern European geopolitical conflicts [1] - The slight increase in the US dollar index has put pressure on gold prices, leading to a minor decline in international gold prices on Monday [1] Group 2 - CITIC Futures indicates that the future trend of gold will primarily depend on the Federal Reserve's policy direction and geopolitical developments [1] - If the Federal Reserve signals a stronger inclination towards interest rate cuts or if geopolitical risks escalate, gold prices may continue to rebound; conversely, if economic data remains strong and suppresses rate cut expectations or if geopolitical tensions ease, gold may face downward pressure [1] - Investors should pay close attention to this week's FOMC meeting minutes and Powell's speech at Jackson Hole [1]

证券之星消息，8月18日贵金属板块较上一交易日下跌0.77%，山东黄金领跌。当日上证指数报收于3728.03，上涨0.85%。深证成指报收于 11835.57，上涨1.73%。贵金属板块个股涨跌见下表： | 贵金属板块 跌幅前10个股 | | --- | | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600547 | 山东黄金 | 30.88 | -1.22% | 43.95万 | | 13.60 Z | | 000506 | 招全黄金 | 9.86 | -1.20% | 23.65万 | | 2.35 Z | | 600489 | 中全黄金 | 14.50 | -0.82% | 92.99万 | | 13.50 Z | | 002716 | 湖南白银 | 4.96 | -0.80% | 123.96万 | | 6.17亿 | | 002155 | 湖南黄金 | 19.11 | -0.73% | 47.49万 | | 9.05 亿 | | 6009888 | 赤峰黄金 | 24 ...

Core Insights - Chile's copper supply is tight, continuing to recommend opportunities in industrial metals [5][7] - The report maintains a positive investment rating for industrial metals [5] Industrial Metals - Copper: Supply constraints due to the suspension of Codelco's copper mine in Chile (350,000 tons), limited future increments post-resumption, and no hope for the Panama copper mine to resume this year. Tight raw material supply has led to reduced output and declining social inventory. Demand remains stable, with major traders reluctant to sell, creating a bullish market sentiment. The upcoming demand peak from September to November could significantly push copper prices higher if supply remains constrained. Recommended stocks include Zijin Mining, Luoyang Molybdenum, Jincheng Mining, Western Mining, Minmetals Resources, China Nonferrous Mining, and Zangge Mining [7]. - Aluminum: Slight increase in theoretical operating capacity and rising aluminum ingot inventory. Weekly aluminum rod production decreased, but real estate consumption sentiment in Beijing improved. In the medium to long term, alumina supply is expected to increase, potentially keeping prices low. Electrolytic aluminum inventory is at historical lows, providing price support as the peak season approaches. Recommended stocks include Yunnan Aluminum, Shenhuo, Nanshan Aluminum, Tianshan Aluminum, China Aluminum, China Hongqiao, Suotong Development, Huatong Cable, and Zhongfu Industrial [7]. Energy Metals - Rare Earths: Prices for praseodymium-neodymium oxide rose by 3.62% to 558,000 yuan/ton, and praseodymium-neodymium mixed metal prices increased by 2.65% to 678,000 yuan/ton. Supply remains tight, with some companies halting production due to raw material shortages. The upcoming peak season is expected to drive prices higher. Recommended stocks include China Rare Earth, Northern Rare Earth, Baotou Steel, Shenghe Resources, and Guangsheng Nonferrous [7]. - Lithium Carbonate: Domestic industrial-grade lithium carbonate price increased by 0.12% to 81,200 yuan/ton. The suspension of the Jiangxi mine since August 10 and other mines facing license reviews have led to low inventory levels, shifting the industry from surplus to tight balance. Recommended stocks include Zhongjin Lingnan, Tianqi Lithium, Ganfeng Lithium, Shengxin Lithium Energy, Rongjie, and Salt Lake Resources [7]. Precious Metals - Inflation recovery and interest rate cut expectations are under scrutiny, with market focus on the aftermath of US-Russia-Ukraine talks. CPI data was weak, but core CPI exceeded expectations, leading to a reduction in rate cut expectations for September. The lack of a ceasefire agreement after the US-Russia summit has heightened market caution. Long-term, risks from debt and slowing economic growth may pressure the dollar and US Treasuries, highlighting gold's value as a hedge. Recommended stocks with production growth and performance release include Shandong Gold, Zhaojin Mining, Zhongjin Gold, Shanjin International, Western Gold, Chifeng Gold, Tongguan Gold, and Wanguo Gold Group [7].

Core Viewpoint - The frequent leadership changes at Shandong Gold, a company valued at 140 billion, have raised questions about the underlying reasons despite its strong performance in the gold industry [1][4]. Group 1: Leadership Changes - Shandong Gold has experienced seven changes in its chairman since the beginning of 2023, which is notably higher than most internet companies [1]. - Han Yaodong, the new chairman, has a background as the deputy mayor of Yantai, a significant gold-producing area, suggesting he brings valuable industry experience to his role [1]. - The appointment of Tang Qi as the new general manager, who previously served as the board secretary, is significant as he has bypassed the vice president level, indicating his exceptional capabilities [2]. Group 2: New Management Team - The new secretary of the board, Wang Yi, is the first female in this role since the company's establishment, highlighting a shift towards diversity and professionalism in management [2]. - The management changes reflect a strategic move to adapt to the evolving gold industry, which requires leaders with diverse backgrounds and skills [6]. Group 3: Industry Context - The gold industry is heavily influenced by international political and economic conditions, necessitating leaders with strong adaptability [4]. - Shandong Gold's comprehensive operations span exploration, mining, processing, and refining, requiring specialized management across various sectors [4]. - The company is also facing increasing environmental regulations, which challenge traditional mining practices and necessitate innovative management approaches [4]. Group 4: Future Outlook - The leadership changes are seen as preparations for industry shifts, with Han's government experience aiding in navigating policy complexities, Tang's internal growth ensuring business continuity, and Wang's legal expertise enhancing compliance [6]. - The adjustments in management signal a modern corporate ethos characterized by openness, inclusivity, professionalism, and ambition [8].

证券之星消息，根据天眼查APP-财产线索数据整理，山东黄金矿业股份有限公司新城金矿8月13日发布《新城金矿精矿脱水车间与矿石堆场建设 工程中标候选人公示》，详情如下： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 采购方：山东黄金矿业股份有限公司新城金矿 供应商：山东黄金集团建设工程有限公司 中标金额： 地区：山东省 发布日期：2025-08-13 标题：新城金矿精矿脱水车间与矿石堆场建设工程中标候选人公示 通过天眼查大数据分析，山东黄金矿业股份有限公司共对外投资了27家企业，参与招投标项目4200次；财产线索方面有商标信息3条，专利信息53 条，著作权信息6条；此外企业还拥有行政许可29个。 数据来源：天眼查APP ...

（於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：1787） 董事會會議通告 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通告之內容概不 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 對 因 本 通 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。 SHANDONG GOLD MINING CO., LTD. 山東黃金礦業股份有限公司 於本通告日期，本公司執行董事為修國林先生、徐建新先生、湯琦先生和劉延芬 女 士；本 公 司 非 執 行 董 事 為 韓 耀 東 先 生 和 劉 欽 先 生；本 公 司 獨 立 非 執 行 董 事 為 戰 凱 先 生、劉 懷 鏡 先 生 和 趙 峰 女 士。 山東黃金礦業股份有限公司（「本公司」）董事會（「董事會」）謹 此 宣 佈，本 公 司 將 於二零二五年八月二十七日（星 期 三）舉 行 董 事 會 會 議，藉 以（其 中 包 括）考慮及 批 准 本 公 司 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 中 期 業 ...

格隆汇8月15日丨山东黄金(01787.HK)宣布，本公司将于2025年8月27日（星期三）举行董事会会议，藉 以（其中包括）考虑及批准本公司截至2025年6月30日止六个月的中期业绩及其发布，考虑派发中期股 息（如有），以及处理其他事项。 ...

证券之星消息，8月15日贵金属板块较上一交易日下跌0.19%，山东黄金领跌。当日上证指数报收于3696.77，上涨0.83%。深证成指报收于 11634.67，上涨1.6%。贵金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 002155 | 湖南黄金 | 19.25 | 1.26% | 42.16万 | 8.05 Z | | 002237 | 恒邦股份 | 12.24 | 1.16% | 16.92万 | 2.06亿 | | 300139 | 院科技 | 18.94 | 0.48% | 16.75万 | 3.14亿 | | 001337 | 四川黄金 | 23.32 | 0.34% | 5.95万 | 1.38亿 | | 002716 | 湖南白银 | 5.00 | 0.20% | 107.16万 | 5.33亿 | | 000506 | 招金黄金 | 9.98 | -0.10% | 13.58万 | 1.35 Z | | 601069 | 西部賃金 | 19.26 | ...

（股 份 代 號：1787） 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通告之內容概不 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 對 因 本 通 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。 SHANDONG GOLD MINING CO., LTD. 山東黃金礦業股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） 董事會會議通告 山東黃金礦業股份有限公司（「本公司」）董事會（「董事會」）謹 此 宣 佈，本 公 司 將 於二零二五年八月二十七日（星 期 三）舉 行 董 事 會 會 議，藉 以（其 中 包 括）考慮及 批 准 本 公 司 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 及 其 發 佈，考 慮 派發中期股息（如 有），以 及 處 理 其 他 事 項。 承董事會命 山東黃金礦業股份有限公司 董事長 韓耀東 中 華 人 民 共 和 國，濟 南 二零二五年八月十五日 於本通告日期，本公司執行董事為修國林先生、徐建新先生、湯琦 ...