Core Viewpoint - The copper metal sector has emerged as the largest gaining sector in the A-share and Hong Kong markets this year, with A-share copper metal concepts rising over 75% and Hong Kong copper metal stocks nearly doubling in value. The recent surge in copper prices is attributed to rising expectations of a Federal Reserve interest rate cut in December, which has also positively impacted other precious metals like silver and gold [1][3][8]. Group 1: Market Performance - The main copper futures contract surged by 2.25%, reaching a record high of $11,210.5 per ton, while domestic copper contracts and New York copper futures rose by 1.75% and 1.62%, respectively [1]. - Silver futures experienced a significant increase of 5.15%, reaching a new historical high, and spot gold prices rose nearly 1.5%, surpassing the $4,200 mark [3]. Group 2: Influencing Factors - A system failure at the Chicago Mercantile Exchange (CME) led to a halt in trading, coinciding with silver's critical price breakout, which fueled conspiracy theories about market manipulation. This incident contributed to a surge in short-term speculative trading in precious metals [4][5]. - The 14th Asian Copper Week held in Shanghai from November 25-27 was a key event, where major global copper companies discussed processing fees, leading to expectations of tighter supply and increased copper prices due to negotiations over record low processing fees and the halting of illegal copper smelting capacity in China [6][14]. Group 3: Supply and Demand Dynamics - The copper supply chain is under significant stress, with major copper mines facing production disruptions and declining ore grades, leading to increased extraction costs. The average copper ore grade has dropped from 0.81% in 2000 to 0.45% in 2023, resulting in an 80% increase in mining costs over the past decade [15]. - Demand for copper is expected to rise significantly due to the booming industries of renewable energy, electric vehicles, and AI, with global refined copper demand projected to reach 27.29 million tons by 2025, growing at a rate of 2.5%-2.8%, while supply growth is only expected to be 1.1% [16]. Group 4: Future Outlook - The consensus in the market is that copper prices are likely to continue rising due to persistent supply constraints and increasing demand, with projections indicating a potential copper deficit of 2-4 million tons by 2030 [16]. - Major players in the copper industry, such as Zijin Mining, are well-positioned due to their integrated operations and cost advantages, which may lead to higher valuations despite recent price increases [17][18].

Core Viewpoint - The copper metal sector has seen significant gains in both A-shares and Hong Kong stocks, with A-share copper metal concepts rising over 75% this year and Hong Kong stocks nearly doubling in value. The recent surge in copper prices is attributed to renewed expectations of a Federal Reserve interest rate cut in December, which has also positively impacted other precious metals like silver and gold [2][4][11]. Group 1: Market Performance - The copper metal sector has been the largest gaining sector in A-shares and Hong Kong stocks this year, with A-share copper concepts up over 75% and Hong Kong stocks nearly doubling [2]. - On a recent Friday, London copper futures surged by 2.25%, reaching a record high of $11,210.5 per ton, while domestic and U.S. copper prices also saw strong increases of 1.75% and 1.62%, respectively [2]. - Silver futures experienced an even larger increase of 5.15%, reaching a new historical high, while spot gold prices rose nearly 1.5%, surpassing $4,200 [4]. Group 2: Influencing Factors - A system failure at the Chicago Mercantile Exchange (CME) led to a halt in trading, coinciding with silver's critical price breakout, which fueled conspiracy theories about market manipulation. This incident contributed to a surge in short-term speculative trading in precious metals [6][7]. - The 14th Asian Copper Week held in Shanghai from November 25-27 was a significant event, where major global copper companies discussed processing fees, leading to heightened tensions and expectations of rising copper prices due to supply chain pressures [9][10]. Group 3: Supply and Demand Dynamics - The copper market is facing a historically tight supply situation, with mining companies pushing for record high processing fees and halting illegal copper smelting capacity in China [9][10]. - The global copper supply is constrained by various factors, including production interruptions at major mines and a significant decline in average copper ore grades, which has increased extraction costs by nearly 80% over the past decade [18][19]. - Demand for copper is expected to surge due to the growth in industries such as renewable energy, electric vehicles, and AI, with projections indicating a supply shortfall of approximately 10,000 tons by 2025 [20]. Group 4: Future Outlook - The consensus in the market is that copper prices are likely to continue rising due to persistent supply constraints and increasing demand, with some estimates suggesting a potential copper shortfall of 2 to 4 million tons by 2030 [20]. - Major players in the copper industry, such as Zijin Mining, are well-positioned due to their comprehensive supply chain management and cost advantages, which could lead to higher valuations in the market [22][26]. - Institutional investors, including major banks, are still showing confidence in the copper sector, indicating a positive outlook for future investments [27][28].

Core Viewpoint - Zijin Mining has announced significant changes in its board of directors, marking a transition from founder-driven leadership to a system-driven approach, as the long-time leader Chen Jinghe steps down due to age and family reasons [2][9]. Group 1: Leadership Transition - Chen Jinghe, the founder and key figure behind Zijin Mining, will not accept nomination for the ninth board of directors due to age and family reasons, despite efforts from the controlling shareholder and board to retain him [2][4]. - The board has proposed to appoint Chen Jinghe as the lifetime honorary chairman and senior advisor, recognizing his contributions and aiming to preserve the company's innovative culture [2][4]. Group 2: Company Performance - Zijin Mining's performance is notable, with copper production accounting for 65% of China's total and gold production for 24% [6]. - The company ranks 267th in the Forbes Global 2000 and 364th in the Fortune Global 500, highlighting its significant market position [6]. Group 3: New Board Candidates - The ninth board of directors' non-independent candidates list includes seven nominees, primarily consisting of long-time associates of Chen Jinghe, indicating a strong internal succession plan [7][8]. - Key candidates include Zou Laichang, the current vice chairman and president, who has extensive experience in management and mining engineering [7][8]. Group 4: Governance Changes - The company plans to abolish the supervisory board and introduce an audit and supervision committee within the board to comply with new corporate laws and regulations [9]. - Seven independent director candidates have been nominated, bringing diverse backgrounds and expertise to the board [9].

11月28日晚间，中国矿业巨头紫金矿业（SH601899，股价28.58元，市值7596亿元）发布了一系列重磅公告。 紫金矿业于11月28日召开了董事会会议，审议通过了关于董事会换届选举的多项议案。 《每日经济新闻》记者注意到，最引人注目的消息莫过于，一手缔造了紫金帝国的"灵魂人物"、现年68岁的陈景河，因年龄和家庭原因，提出不再接受公 司第九届董事会董事候选人提名。 与此同时，一份由多位跟随陈景河征战多年的核心高管组成的第九届董事会候选人名单也随之出炉。 截至28日收盘，紫金矿业股价报收28.58元，年初至今已涨超95%，总市值达7596亿元。 持股市值超24亿元 拟被聘为终身荣誉董事长 在紫金矿业发布的公告中，一段关于陈景河去留的表述显得尤为温情且充满战略深意。 公告披露，因年龄和家庭原因，陈景河提出不再接受公司第九届董事会董事候选人提名。尽管控股股东及董事会极力挽留，陈景河认为， 一个基业长青 的企业应从"创始人驱动"迈向"制度驱动"，目前公司新的核心管理团队已经成熟，是实现新老交替的 最好 时机 。 | 姓名 ⇒ | | 期末持股(股) ۾ | 期初持股(股) ۾ | 持股变动(股) ÷ | 变动原因 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 与此同时，一份由多位跟随陈景河征战多年的核心高管组成的第九届董事会候选人名单也随之出炉。 截至28日收盘，紫金矿业股价报收28.58元，年初至今已涨超95%，总市值达7596亿元。 原标题：太突然！7500亿巨头将换帅：68岁董事长宣布退出，已掌舵32年，身家超24亿元！公司旗下金 矿储量全球第五，铜矿储量全球第二 11月28日晚间，中国矿业巨头紫金矿业（SH601899，股价28.58元，市值7596亿元）发布了一系列重磅 公告。 紫金矿业于11月28日召开了董事会会议，审议通过了关于董事会换届选举的多项议案。 《每日经济新闻》记者注意到，最引人注目的消息莫过于，一手缔造了紫金帝国的"灵魂人物"、现年68 岁的陈景河，因年龄和家庭原因，提出不再接受公司第九届董事会董事候选人提名。 持股市值超24亿元 拟被聘为终身荣誉董事长 在紫金矿业发布的公告中，一段关于陈景河去留的表述显得尤为温情且充满战略深意。 公告披露，因年龄和家庭原因，陈景河提出不再接受公司第九届董事会董事候选人提名。尽管控股股东 及董事会极力挽留，陈景河认为，一个基业长青的 ...

智通财经11月29日讯（记者 梁祥才 黄路）尽管控股股东及董事会极力挽留，已过六十八岁的紫金矿业 （601899.SH）董事长陈景河不再接受下一届董事候选人提名，拟任终身荣誉董事长，将继续在重大战 略决策、资源对接等方面助力公司发展。 28日晚间，紫金矿业公告，公司第八届董事会临时会议审议通过《关于拟聘任陈景河先生为公司终身荣 誉董事长的议案》，尚需进一步提交公司股东会审议。 公告显示，自1993年公司成立以来，在陈景河的带领下，公司经过32年艰苦创业，现已成长为综合指标 进入全球金属矿业企业前3位、市值突破 1,000 亿美元的跨国矿业集团，形成了具有全球竞争力的技术 和管理体系、企业文化和核心管理团队，为公司可持续稳定发展奠定了坚实的基础。 因年龄和家庭原因，陈景河提出不再接受公司第九届董事会董事候选人提名。尽管控股股东及董事会极 力挽留，陈景河认为，一个基业长青的企业应从"创始人驱动"迈向"制度驱动"，目前公司新的核心管理 团队已经成熟，是实现新老交替的最好时机。 值得关注的是，同日紫金矿业还公告了董事会审议通过《关于提名公司第九届董事会非独立董事候选人 的议案》。 公告显示，鉴于公司第八届董事会（20 ...

紫金矿业在11月28日晚间公告，公司第八届董事会临时会议审议通过《关于拟聘任陈景河先生为公司终 身荣誉董事长的议案》，该议案尚需进一步提交公司股东会审议。 公告显示，因年龄和家庭原因，紫 金矿业现任董事长陈景河提出不再接受公司第九届董事会董事候选人提名。公司拟聘任陈景河为终身荣 誉董事长、高级顾问，并将此安排写入《公司章程》。陈景河将继续在重大战略决策、资源对接等方面 为公司提供指导与支持，助力公司长期发展。公司第八届董事会任期为2022年12月30日起，任期三年。 ...

Market Overview - On November 28, the Hang Seng Index fell by 0.34%, closing at 25,858.89 points, with a total net inflow of southbound funds through the Stock Connect amounting to HKD 2.727 billion [1][3] - The total trading volume for the Stock Connect on the same day was HKD 60.238 billion, with a net buy of HKD 2.727 billion [1][3] Stock Performance - In the Shanghai Stock Connect, the total trading volume was HKD 37.898 billion, with a net buy of HKD 0.933 billion; in the Shenzhen Stock Connect, the trading volume was HKD 22.339 billion, with a net buy of HKD 1.794 billion [1][3] - The most actively traded stock in the Shanghai Stock Connect was Alibaba-W, with a trading volume of HKD 4.408 billion and a net buy of HKD 0.800 billion, closing up by 0.60% [1][2] - Tencent Holdings and Pop Mart were also among the top traded stocks, with trading volumes of HKD 1.528 billion and HKD 1.305 billion, respectively [1][2] Net Buy/Sell Analysis - In the Shenzhen Stock Connect, Tencent Holdings had the highest net buy amount of HKD 0.435 billion, while the stock closed flat [2] - The stock with the highest net sell amount was SMIC, with a net sell of HKD 0.162 billion, while its stock price increased by 0.66% [2]

依據新《公司法》及修訂後《公司章程》，第九屆董事會將增設 1 名職工董事，該職工董事 將作為執行董事，與股東會選舉產生的其他董事共同組成董事會。公司現任執行董事、副總 裁謝雄輝先生已被提名為職工董事候選人，將提交職工代表大會民主選舉，選舉結果另行公 告。 表決結果：同意 12 票，反對 0 票，棄權 0 票。 1 本議案提交董事會審議前，已經董事會提名與薪酬委員會審議通過。 本議案尚需提交公司股東會審議。 關於公司董事會換屆相關事宜的公告 紫金礦業集團股份有限公司（以下簡稱「本公司」、「公司」）第八屆董事會 2025 年第 18 次臨時會議於 2025 年 11 月 28 日在公司上杭總部和廈門分部以現場和視頻相結合的方式召 開。會議應出席董事 12 名，實際出席董事 12 名，本次會議有效表決票 12 票，公司監事及 高管列席會議。本次會議的召集和召開程序符合《公司法》和《公司章程》的有關規定，會 議由陳景河董事長主持，以投票表決方式審議通過了的議案其中包括： 一、審議通過《關於提名公司第九屆董事會非獨立董事候選人的議案》 鑒於公司第八屆董事會任期即將屆滿，根據相關法律法規及《公司章程》規定，經董事會提 名 ...

紫金矿业：——将捐赠200万港元现金用于宏福苑应急救援。 ...