Major Events - Cloudtop New Horizon (01952) has its original product, Nanfukang®, protected by patent ZL200980127272.5 in China, which is currently valid [1] - Linkang Biotechnology Group (00690) has reached a strategic cooperation with Wenzhou Medical University National Engineering Research Center and the People's Government of Ouhai District, Wenzhou [1] - Auhua Pharmaceutical (00013) announced that the new drug application for Savolitinib for treating gastric cancer patients with MET amplification has been accepted and included in priority review in China [1] - Fosun Pharma (02196) has initiated Phase I clinical trials for its integrated diagnosis and treatment nuclear medicine project SRT-007 within China [1] - Postal Savings Bank of China (01658) has received approval from the National Financial Supervision Administration for the absorption and merger with Postal Huai Wanjia Bank [1] - MicroPort Cardiac Devices-B (02160) has officially published the one-year follow-up results of the early feasibility study for AltaValveTM [1] Operating Performance - New Fire Technology Holdings (01611) reported an annual loss attributable to shareholders of HKD 9.212 million, a shift from profit to loss year-on-year [1] - Xingqian Development (00640) reported an annual net profit of approximately HKD 122 million, an increase of 21.7% year-on-year [1] - Zijin Mining Group (02899) expects a net profit attributable to shareholders of approximately RMB 51-52 billion for the fiscal year 2025, representing a year-on-year increase of about 59%-62% [1] - Zijin Gold International (02259) issued a profit warning, expecting a net profit attributable to shareholders of approximately USD 1.5-1.6 billion for 2025, a year-on-year increase of about 212%-233% [1]

紫金黄金国际(02259)公布，预计该集团2025年度实现归属于母公司股东净利润约15—16亿美元，同比 增加约212%—233%。集团提出2026年度矿产金产量计划为57吨。 公告称，业绩预增的主要原因为报告期矿产金产量同比增加至约46.5吨(2024年度：约38.9吨(不含波格 拉金矿产量))。报告期内，矿产金销售价格同比上涨，加上2025年度完成并购的两个在产金矿项目于年 内实现盈利，对集团业绩产生积极影响。 ...

智通财经APP讯，紫金黄金国际(02259)公布，预计该集团 2025 年度实现归属于母公司股东净利润约 15 —16 亿美元，同比增加约 212%—233%。集团提出 2026 年度矿产金产量计划为 57 吨。 公告称，业绩预增的主要原因为报告期矿产金产量同比增加至约 46.5 吨(2024 年度：约 38.9 吨(不含波 格拉金矿产量))。 报告期内，矿产金销售价格同比上涨，加上 2025 年度完成并购的两个在产金矿项目 于年内实现盈利，对集团业绩产生积极影响。 ...

格隆汇12月30日丨紫金黄金国际(02259.HK)公告，集团预计截至2025年12月31日止年度(「2025年 度」、「报告期」或「本期」)实现归属于母公司股东净利润约15-16亿美元，与上年同期相比将增加约 10.2-11.2亿美元，同比增加约212%-233%。 本期业绩预增的主要原因：(一)矿产金产量增加报告期矿产金产量同比增加至约46.5吨(2024年度：约 38.9吨(不含波格拉金矿产量))。(二)良好的市场及并购因素报告期内，矿产金销售价格同比上涨，加上 2025年度完成并购的两个在产金矿项目于年内实现盈利，对集团业绩产生积极影响。 ...

（文章来源：第一财经） 紫金黄金国际在港交所披露业绩，2025年实现归属于母公司股东净利润约15—16亿美元，与上年同期相 比将增加约10.2—11.2亿美元，同比增加约212%—233%。 ...

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 生或因依賴該等內容而引致的任何損失承擔任何責任。 Zijin Gold International Company Limited 紫金黃金國際有限公司 （於香港註冊成立的有限公司） （股份代號：2259） 2025 年度業績預增公告 紫金黃金國際有限公司（「本公司」，與其附屬公司統稱「本集團」）根據香港聯合交易所 有限公司證券上市規則（「上市規則」）第 13.09(2)(a)條及證券及期貨條例（香港法例第 571 章）第 XIVA 部項下之內幕消息條文（定義見上市規則）作出本公告。 重要內容提示： 本集團預計截至 2025 年 12 月 31 日止年度（「2025 年度」、「報告期」或「本期」）實現 歸屬於母公司股東淨利潤約 15—16 億美元，與上年同期相比將增加約 10.2—11.2 億美元， 同比增加約 212%—233%。 一、本期業績預告情況 （一）業績預告期間 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）業績 ...

Group 1 - The core viewpoint of the article highlights a decline in gold prices, which negatively impacted the performance of gold stocks in China [1] - China Silver Group (00815) experienced a drop of 5.63%, while Lingbao Gold (03330) fell by 3.25% [1] - Other notable declines include Shandong Gold (01787) down 2.67%, Zhaojin Mining (01818) down 2.67%, and Zijin Mining International (02259) down 2.35% [1] Group 2 - The decline in international gold prices was attributed to profit-taking by some investors, with New York February futures closing at $4343.6 per ounce, a decrease of approximately 4.6% [1] - Spot gold prices briefly approached the $4300 per ounce mark [1]

消息面上，12月29日早间，贵金属市场在短线冲高后直线跳水，其中，现货黄金一度失守4480美元/盎 司，COMEX黄金则一度跌破4500美元关口。东吴证券指出，短期来看，26Q1美国的宽财政（政府停摆 结束）、宽货币（近期75bps降息）与季节性（1-2月非农初值与CPI易超预期）易延缓美联储的降息节 奏，从而抬升利率预期。叠加特朗普计划的2026年4月访华行程，市场风险偏好或进一步改善，从而构 成对金价的利空逻辑。但从中长期来看，特朗普对美联储独立性的干预及美国债务可持续性问题带来的 美元信用风险，仍将令全球央行的购金潮持续。 黄金股普遍走低，截至发稿，紫金黄金国际(02259)跌5.41%，报145.2港元；山东黄金（600547） (01787)跌4.47%，报35.5港元；中国黄金（600916）国际(02099)跌4.14%，报155.2港元；赤峰黄金 （600988）(06693)跌4.15%，报30.52港元。 ...

Group 1 - The global IPO market is expected to recover significantly in 2025, primarily supported by a fundamental shift in the global liquidity environment as major central banks, led by the Federal Reserve, begin to lower interest rates after a period of aggressive rate hikes [2] - In the US stock market, private equity and venture capital are leading the financing of AI startups, with significant investments from firms like SoftBank into OpenAI, indicating a trend towards rapid IPOs to exit before potential market shifts [2] - The Hong Kong stock market is experiencing a dual-driven liquidity support from both domestic and international capital, which is crucial for large IPO projects [2] Group 2 - Despite volatility in global stock markets, the IPO market is thriving, particularly in Hong Kong, where the number of pending IPO applications has surged from 84 at the beginning of the year to 331, suggesting an acceleration in IPO transactions by year-end [3] - Hong Kong is leading in IPO fundraising, with a total expected to reach HKD 2787.03 million (approximately USD 35.9 billion), surpassing the Nasdaq's USD 25.8 billion, marking the highest level since 2021 [4] - If SPACs are included, the Nasdaq remains the top market for IPO fundraising, with a total of USD 46 billion [6] Group 3 - Other regions, such as India and Japan, are also seeing active IPO markets, with over 200 companies in India receiving approval or submitting IPO applications, the highest in 27 years, and Japan's IPO fundraising expected to reach JPY 1.2 trillion (approximately USD 770 million), the highest since 2018 [8] - The largest IPO in the US this year was Medline, raising USD 6.265 billion, followed by Venture Global and Coreweave, indicating strong interest in healthcare and energy sectors [9] - In Hong Kong, the largest IPO was by CATL, raising HKD 310.06 million (approximately USD 39.88 billion), reflecting strong demand for battery technology [10] Group 4 - The IPO market is expected to become more crowded in 2026, with a shift in focus from recovery to competition and differentiation, driven by high listing enthusiasm and urgent capital exit needs [13] - Major tech companies, including SpaceX and AI firms like OpenAI and Anthropic, are planning IPOs in 2026, which could lead to the largest IPO wave in history [14][15] - The backlog of IPO applications in Hong Kong is expected to exacerbate the crowded market situation, with a significant number of companies from various sectors, including biotech and AI, preparing to go public [16] Group 5 - Despite a shift towards a more accommodative global liquidity environment, capital is not flowing evenly across markets, with the US stock market, particularly the Nasdaq, maintaining a competitive edge in attracting large IPOs [17] - The competition for top projects between the US and Hong Kong markets may lead to a relative disadvantage for Hong Kong, despite local support from "southbound funds" [17] - Investors are advised to focus on high-quality assets with long-term competitive advantages in a crowded IPO market, emphasizing the importance of valuation discipline [18]

Market Overview - The Hong Kong stock market opened high but closed lower, with the Hang Seng Index down 0.71% to 25,635.23 points and a total turnover of HKD 224.51 billion [1] - The Hang Seng Tech Index fell 0.3% to 5,483.01 points, while the Hang Seng China Enterprises Index decreased by 0.26% to 8,891.71 points [1] Consensus and Divergences - Huatai Securities noted two main consensus points: 1. The logic of the bulk commodity sector is solid, leading to a rapid revaluation 2. Weak recovery in domestic demand suggests a left-side allocation in the consumer sector [1] Blue Chip Performance - BYD Company (01211) led blue-chip stocks, rising 3.74% to HKD 97.1, contributing 20.66 points to the Hang Seng Index [2] - Other notable blue-chip performances included Geely Automobile (00175) up 3.43% and Industrial and Commercial Bank of China (01398) up 1.63% [2] Sector Highlights - The automotive sector saw most stocks rise, with NIO-SW (09866) up 4.89% and Xpeng Motors-W (09868) up 3.88% [3] - The robotics sector showed strong performance, with MicroPort Robotics-B (02252) surging 25.85% and UBTECH (09880) rising 9.13% [4] Individual Company News - UBTECH plans to acquire Fenglong Co. for HKD 1.665 billion, focusing on garden machinery and automotive components [5] - MicroPort Robotics reported over 230 cumulative orders for its surgical robots, with over 160 orders for its bronchoscopic surgical robot "Dudao" [5] Gold Sector Performance - Gold stocks generally retreated, with Zijin Mining International (02259) down 5.86% and Chifeng Jilong Gold Mining (06693) down 5.4% [5] - The gold market experienced volatility, with spot gold prices dropping below USD 4,450 per ounce [6] Power Sector Performance - Power stocks faced pressure, with Huaneng International (00902) down 6.48% and Datang International Power Generation (00991) down 4.7% [6] - The announcement of long-term electricity prices in Guangdong indicated a decline, with a 19.72 cents per kilowatt-hour drop [6] Notable Stock Movements - Junda Co. (02865) surged 21.65% following a strategic partnership announcement in the space energy sector [7] - Youjia Innovation (02431) rose 15.45% as the first batch of L3 autonomous vehicles began large-scale operation [8] - Goldwind Technology (02208) increased by 13.7% after the release of new listing standards for commercial rocket companies [9] - Jiantao Laminates (01888) rose 6.81% due to a price increase announcement amid rising copper prices [10] - MGM China (02282) fell 17.14% after a report indicated a significant increase in brand usage fees starting in 2026 [11]