Group 1 - The core viewpoint of the news highlights a significant rise in gold stocks in the Hong Kong market, with major companies like China Gold International and Zijin Mining experiencing notable gains amid a bullish trend in gold prices [1] - In the Asian early trading session, spot gold prices increased by 0.57%, surpassing $4000 per ounce, indicating strong market demand [1] - The third quarter saw a surge in gold demand in the U.S., with a 58% increase and ETFs attracting $16 billion, suggesting a robust investment environment for gold [1] Group 2 - Specific stock performance includes China Gold International rising by 3.73%, Zijin Gold International by 2.25%, and other companies like Shandong Gold and Chifeng Gold also showing positive growth [2] - AJ Bell's investment director, Russ Mould, noted that gold is currently in its third bull market since 1971, with previous bull markets experiencing significant corrections, yet current factors like government debt and geopolitical tensions may drive prices higher [1]

Group 1 - The core viewpoint of the articles indicates that gold stocks in the Hong Kong market are experiencing a general upward trend, with significant gains observed in several companies [1] - China Gold International saw an increase of nearly 4%, while Zijin Mining International and Zhenfeng Gold rose over 2% [2] - The spot gold price increased by 0.57% in early Asian trading, returning to $4000 per ounce, driven by a surge in demand in the U.S. during the third quarter, which saw a 58% increase [1] Group 2 - The report highlights that ETFs attracted $16 billion in investments, suggesting strong market interest in gold [1] - AJ Bell's investment director, Russ Mould, stated that gold is currently in its third major bull market since 1971, with previous bull markets experiencing significant corrections [1] - Factors such as government debt, geopolitical tensions, the U.S. dollar, and inflation are expected to drive gold prices higher, with some reports suggesting a potential target of $5000 per ounce [1]

Core Viewpoint - China Gold International (02099) has seen a nearly 4% increase in stock price, attributed to the upcoming announcement of its Q3 performance on November 13, 2025, and the gradual recovery of production at the Changshanhao Gold Mine [1] Group 1: Company Performance - China Gold International's stock price rose by 2.87% to HKD 132.4, with a trading volume of HKD 46.5265 million [1] - The company will hold a board meeting to review and potentially approve its Q3 results for the nine months ending September 30, 2025 [1] Group 2: Mining Operations - The company operates two key mines: the Changshanhao Gold Mine and the Jiama Polymetallic Mine, which have shown stable production and profitability growth prior to 2023 [1] - Due to a tailings dam incident, the mining capacity was reduced from 50,000 tons per day to 34,000 tons per day in 2023 [1] - Future plans include a three-step strategy to restore production capacity back to over 50,000 tons per day, with the latest exploration report expected by April 2026 [1]

Core Viewpoint - China Gold International (02099) has seen a stock price increase of nearly 4%, currently trading at 132.4 HKD with a transaction volume of 46.5265 million HKD, indicating positive market sentiment ahead of its upcoming board meeting to review Q3 performance for the nine months ending September 30, 2025 [1] Company Performance - The company owns two high-quality mines: Changshanhao Gold Mine and Jiama Polymetallic Mine, which have shown stable production and steady profit growth prior to 2023 [1] - In 2023, due to a tailings dam incident, the processing capacity was revised down from 50,000 tons per day to 34,000 tons per day [1] - Future plans include a three-step strategy involving the construction of a new tailings dam, expansion of mining licenses, and exploration and development in surrounding areas, which is expected to restore capacity to over 50,000 tons per day [1] - A new exploration report is anticipated to be released by April 2026 [1]

Core Insights - MSCI announced the results of its index review for November 2025, with adjustments effective after the market close on November 24 [1] - A total of 69 stocks were added to the MSCI Global Standard Index, while 64 stocks were removed [1] - The largest new additions to the MSCI Global Index by market capitalization include CoreWeave, Nebius Group, and Insmed [1] - The largest new additions to the MSCI Emerging Markets Index include Barito Renewables Energy, Zijin Mining International, and GF Securities H shares [1] China Market Updates - The MSCI China Index added 26 Chinese stocks and removed 20 [3] - New additions to the MSCI China Index include resource stocks and technology companies such as China Gold International, Zijin Mining International, and Ganfeng Lithium [3][5] - Stocks removed from the MSCI China Index include Haige Communications, Dong-E E-Jiao, and Hailan Home [3][5] A-Shares Adjustments - The MSCI China A-Shares Index added 17 stocks and removed 16 [7] - New additions to the MSCI China A-Shares Index include Qianli Technology, Dongyangguang, and Changchuan Technology [7] - The MSCI China A-Shares Onshore Index added 18 stocks and removed 24 [7][8] Fund Flow Implications - The adjustments in MSCI indices will lead to rebalancing in related index funds, resulting in increased capital allocation to newly added companies and forced selling of removed companies [9] - Historical trends indicate that passive funds tend to adjust their holdings on the last trading day to minimize tracking error, often leading to significant trading volume in affected stocks [9] - Active funds are not bound by this constraint and can choose their timing for allocation [9] Market Sentiment - Several foreign investment institutions have expressed positive views on the Chinese market, with Fidelity Fund favoring emerging markets over developed ones [9][10] - Despite mixed opinions on the Chinese stock market due to geopolitical risks and economic slowdown, there is recognition of the growth potential within the second-largest economy [10]

Group 1 - MSCI announced the results of its index review for November 2025, with 69 stocks added and 64 stocks removed from the global standard index, effective after market close on November 24 [1] - The three largest securities added to the MSCI global index by market capitalization are CoreWeave, Nebius Group, and Insmed [1] - The three largest securities added to the MSCI emerging markets index are Barito Renewables Energy, Zijin Mining International, and GF Securities H-shares [1] Group 2 - In the MSCI China index, 26 Chinese stocks were added while 20 were removed, including resource stocks and technology companies such as China Gold International and Ganfeng Lithium [3][5] - The stocks removed from the MSCI China index include Haige Communication, Dong'e Ejiao, and Hailan Home [3][6] - The MSCI China A-share index added 17 stocks and removed 16, with notable additions including Qianli Technology and Huahong Semiconductor [8] Group 3 - The MSCI China A-share onshore index added 18 stocks and removed 24, with new additions like Baiwei Storage and Shengtun Mining [8][9] - The MSCI China index serves as an important benchmark for global investors for asset allocation and investment analysis, impacting passive fund flows [9][12] - Following the index adjustments, newly added companies are expected to receive increased capital allocation, while removed companies may face passive selling [13] Group 4 - Several foreign institutions have expressed positive views on the Chinese market, with Fidelity Fund favoring emerging markets over developed ones, anticipating more consumer stimulus measures [13] - In contrast, some investors remain cautious due to geopolitical risks and economic slowdown, while others see significant growth potential in the Chinese equity market [13]

Group 1 - MSCI announced the results of the November index review, with adjustments effective after the market close on November 24 [1] - A total of 22 stocks were added to the MSCI Global Small Cap Index, including companies such as Genscript Biotech (01672) and Youzan (08083) [1] - 17 stocks were removed from the MSCI Global Small Cap Index, including China Gold International (02099) and Longi Green Energy (601869) [1] Group 2 - The MSCI Hong Kong Index included 7 new stocks, such as Chow Sang Sang (00116) and MGM China (02282) [2] - The MSCI Hong Kong Index removed stocks like Kintor Pharmaceutical (02171) and HKT Trust (00215) [2][3]

| 截至月份: | 2025年10月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 中國黃金國際資源有限公司 | | | 呈交日期: | 2025年11月6日 | | | I. 法定/註冊股本變動 不適用 | | | | 備註： | | | | | 根據英屬哥倫比亞省商業公司法，於英屬哥倫比亞省註冊成立的公司一般擁有無限制的法定股本，且各類別的股份普遍亦無分「面值」。 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02099 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 396,413,753 | | | ...

Core Viewpoint - The gold stocks have generally rebounded, with notable increases in share prices for several companies in the sector [1]. Company Performance - China Silver Group (00815.HK) increased by 3.45%, reaching HKD 0.6 [1]. - China Gold International (02099.HK) rose by 2.83%, with shares priced at HKD 127.2 [1]. - Zijin Mining (02899.HK) saw a 2.13% increase, trading at HKD 30.66 [1]. - Zhaojin Mining (01818.HK) gained 1.87%, with a share price of HKD 28.36 [1]. - Shandong Gold (01787.HK) experienced a 1.28% rise, priced at HKD 31.56 [1].

Core Viewpoint - The gold stocks have generally rebounded, with notable increases in share prices for several companies in the sector, driven by a recent rise in spot gold prices and market expectations regarding U.S. government operations and economic data [1] Group 1: Company Performance - China Silver Group (00815) increased by 3.45%, reaching HKD 0.6 [1] - China Gold International (02099) rose by 2.83%, reaching HKD 127.2 [1] - Zijin Mining (02899) saw a 2.13% increase, reaching HKD 30.66 [1] - Zhaojin Mining (01818) grew by 1.87%, reaching HKD 28.36 [1] - Shandong Gold (01787) increased by 1.28%, reaching HKD 31.56 [1] Group 2: Market Analysis - On November 5, spot gold rebounded from a low, briefly surpassing USD 3970 per ounce [1] - CITIC Futures noted a continued fluctuation in precious metals due to declining global risk asset sentiment [1] - UBS analysts indicated that the current pullback in the gold market is temporary, with potential for gold prices to reach USD 4200 per ounce [1] - In optimistic scenarios, if geopolitical or market risks escalate, gold prices could potentially rise to USD 4700 per ounce [1]