| 紫金矿业投资(上 中信证券股份 | | 18000.00 69.20% 6.80% 2025-09-03 | | | --- | --- | --- | --- | | 出质股东 | 质权方 有限公司 | ｜质押数量（万股）｜占持股比％｜占总股本比％｜质押开始日 | 海)有限公司 | 证券之星消息，江南化工(002226)9月5日公开信息显示，股东紫金矿业投资(上海)有限公司向中信证券 股份有限公司合计质押1.8亿股，占总股本6.8%。质押详情见下表： 截止本公告日，股东紫金矿业投资(上海)有限公司已累计质押股份1.8亿股，占其持股总数的69.2%。本 次质押后江南化工十大股东的累计质押股份占持股比例(占持股比例的计算以公司最新一期财务报表公 布的十大股东的持股总数为基准)见下图： 江南化工财务数据及主营业务： 江南化工2025年中报显示，公司主营收入46.14亿元，同比上升3.71%；归母净利润4.27亿元，同比上升 2.17%；扣非净利润4.28亿元，同比上升1.98%；其中2025年第二季度，公司单季度主营收入26.01亿 元，同比上升5.42%；单季度归母净利润2.81亿元，同比上升2.81%；单 ...

武契奇总统表示，紫金矿业作为全球一流矿业公司，在塞尔维亚的重大投资项目有力带动了塞矿业行业 的复苏升级，是塞东部地区乃至全国经济持续增长的重要支柱。塞尔维亚政府始终将紫金视作最重要的 合作伙伴之一，愿意与紫金在资源勘查开发、冶炼加工、贸易销售及环境保护等领域开展更多务实合 作，期待紫金在塞尔维亚创造更多就业岗位。塞政府高度重视紫金矿业有关诉求，将进一步加大力度为 企业更好更快发展提供支持和帮助。 9月3日下午，紫金矿业董事长陈景河与来华访问的塞尔维亚总统武契奇在北京会谈。 陈景河表示，非常高兴能够在中国再次见到老朋友。七年前，紫金矿业与塞尔维亚政府在北京签署投资 协议，得益于塞政府和社会各界的大力支持，紫金进入塞尔维亚后各项建设工作进展迅速，生产经营成 果丰硕，在塞投资和社会贡献已远超当初协议承诺。目前，紫金在塞企业已开启新一轮发展征程，将一 如既往坚持高标准ESG体系建设，通过先进技术和卓越管理实现矿产绿色高效开发，让宝贵资源为塞尔 维亚政府和人民创造更大价值。 ...

智通财经APP获悉，截止9月4日收盘，东北电气(00042)、复旦张江(01349)、安德利果汁(02218)分列AH 溢价率前三位，溢价率分别为800.00%、245.38%、241.51%；宁德时代(03750)、恒瑞医药(01276)、紫 金矿业(02899)分列AH溢价率末三位，溢价率分别为-13.29%、6.01%、8.06%。其中复旦张江(01349)、 东江环保(00895)、金力永磁(06680)的偏离值位居前三，分别为30.70%、24.70%、23.97%；另外，比亚 迪股份(01211)、龙蟠科技(02465)、长城汽车(02333)的偏离值位居后三，分别 为-39.88%、-24.25%、-23.51%。 前十大AH股溢价率排行 | 股票名称 | H股(港元) | A股 | 溢价率↓ | 偏离值 | | --- | --- | --- | --- | --- | | 东北电气(00042) | 0.300 | 2.25 | 800.00% | 21.61% | | 复旦张江(01349) | 3.460 | 9.98 | 245.38% | 30.70% | | 安德利果汁(02218 ...

Core Viewpoint - Zijin Mining (601899.SH) experienced a decline of 5.41%, trading at 23.59 yuan, with a total transaction volume of 8.4 billion yuan and a market capitalization of 626.97 billion yuan [1] Summary by Relevant Sections - Shareholding Reduction - The company's vice president, Shen Shaoyang, reduced his shareholding by 250,000 shares due to the need to raise funds for the company's 2025 employee stock ownership plan [1] - The reduction occurred between September 2 and 3, 2025, at a price range of 24.55 to 25.5 yuan per share, totaling 6.25 million yuan [1] - This share reduction plan has been fully implemented [1]

Core Viewpoint - The company reported strong financial performance for the first half of 2025, with significant increases in revenue and net profit, driven by rising production and prices of key mineral products [1][2]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 167.71 billion yuan, a year-on-year increase of 11.50% [1] - The net profit attributable to shareholders was 23.29 billion yuan, up 54.41% year-on-year, while the net profit after deducting non-recurring items was 21.62 billion yuan, reflecting a 40.12% increase [1]. Production and Pricing - The company saw a steady increase in the production of gold and copper, with gold production from mines rising by 16.3% year-on-year and copper production increasing by 9.3% [2] - Average prices for gold, copper, zinc, and silver increased by 38.6%, 3.9%, 4.8%, and 20.3% respectively in the first half of 2025 [2]. - The sales gross margin for the first half of 2025 was 23.75%, an increase of 4.60 percentage points year-on-year, with mineral product gross margins at 60.23%, up 2.93 percentage points [2]. Resource Reserves and Project Development - The company added significant resource reserves in the first half of 2025, including 2.049 million tons of copper and 88.8 tons of gold [3]. - Strategic acquisitions included the completion of control over Zangge Mining and the signing of agreements for gold mines in Ghana and Kazakhstan, enhancing the company's resource base [3]. - Ongoing projects such as the construction of the Tibet Julong Copper Mine and the commissioning of Africa's largest copper smelting plant are progressing well [3]. Profit Forecast and Rating - The company is expected to continue its expansion and development due to its core competencies in technology innovation, efficient management, and low-cost exploration [4]. - The net profit forecasts for 2025-2027 are adjusted to 45.29 billion yuan, 50.90 billion yuan, and 56.81 billion yuan respectively, with corresponding EPS of 1.70, 1.92, and 2.14 yuan per share [4]. - The 2025 PE ratio is projected at 13.54X, which is below the average of comparable companies, maintaining a "buy" rating for the stock [4].

该行指，紫金矿业的开采黄金料将于2025年贡献其毛利的48%(相较之下，铜矿贡献41%)。该行看好紫 金在产量增长方面的强劲执行力，预计公司今明两年黄金产量将分别增长17%和11%;此外，潜在的紫金 海外黄金资产国际IPO亦可能成为短期催化。 美银证券指，年初至今金价同比升39%，主要驱动因素为：1)美国的结构性财政赤字、2)降息预期、3) 对美国央行独立性受威胁的担忧、4)地缘政治紧张与不确定性，该行已将长期黄金价格预估上调25%至 每盎司2,500美元及同时将长期白银价格上调30%至每盎司35美元。 智通财经APP获悉，美银证券发布研报称，将紫金矿业(02899)在2025年至2027年税后净利润预测调整 1%至4%，其目标价由26港元上调至31港元，此按现金流折现率作估值，基于对铜与黄金价格的正面看 法及公司稳健的产量增长，维持对其"买入"评级，仍为行业首选。 ...

美银证券指，年初至今金价同比升39%，主要驱动因素为：1)美国的结构性财政赤字、2)降息预期、3) 对美国央行独立性受威胁的担忧、4)地缘政治紧张与不确定性，该行已将长期黄金价格预估上调25%至 每盎司2,500美元及同时将长期白银价格上调30%至每盎司35美元。 美银证券发布研报称，将紫金矿业（601899）(02899)在2025年至2027年税后净利润预测调整1%至4%， 其目标价由26港元上调至31港元，此按现金流折现率作估值，基于对铜与黄金价格的正面看法及公司稳 健的产量增长，维持对其"买入"评级，仍为行业首选。 该行指，紫金矿业的开采黄金料将于2025年贡献其毛利的48%(相较之下，铜矿贡献41%)。该行看好紫 金在产量增长方面的强劲执行力，预计公司今明两年黄金产量将分别增长17%和11%;此外，潜在的紫金 海外黄金资产国际IPO亦可能成为短期催化。 ...

彭博援引知情人士称，紫金矿业旗下国际黄金开采子公司拟在香港进行的首次公开募股(IPO)可能募资 超过30亿美元，有望成为今年全球规模第二大上市交易。知情人士表示，紫金黄金国际的上市融资规模 和时间仍有可能发生变化，相关讨论还在进行中。其中一位知情人士称，上市最快可能于本月进行，由 于金价徘徊在历史高位附近，投资者对本次IPO的兴趣异常强烈。 ...

9月4日，紫金矿业跌5.01%，截至发稿，报23.69元/股，成交63.35亿元，换手率1.27%，总市值6296.23 亿元。 截至发稿，林茂政累计任职时间249天，现任基金资产总规模7.23亿元，任职期间最佳基金回报 30.93%， 任职期间最差基金回报0.95%。 资料显示，紫金矿业集团股份有限公司位于福建省上杭县紫金大道1号,福建省厦门市思明区环岛东路 1811号中航紫金广场B塔,香港九龙柯士甸道西1号环球贸易广场75楼7503A室，成立日期2000年9月6 日，上市日期2008年4月25日，公司主营业务涉及矿产资源勘查和开发。主营业务收入构成为：其它 66.76%，冶炼加工及贸易金41.33%，冶炼产铜16.26%，矿山产铜精矿11.51%，矿山产金锭6.69%，矿山 产金精矿4.93%，矿山产电解铜2.67%，冶炼产锌2.49%，矿山产锌1.90%，矿山产电积铜1.68%，矿山产 银0.66%，铁精矿0.14%。 从基金十大重仓股角度 数据显示，苏新基金旗下1只基金重仓紫金矿业。苏新中证A500指数增强A（023347）二季度持有股数 46.43万股，占基金净值比例为1.61%，位居第七大重仓股。 ...

Core Viewpoint - UBS reports that the performance of non-ferrous metal companies in the first half of the year remains robust, with Luoyang Molybdenum and Zijin Mining leading with profit growth exceeding 50% [1] Group 1: Company Performance - Luoyang Molybdenum and Zijin Mining show strong profit growth of over 50% [1] - China Hongqiao and Jiangxi Copper follow, while China Aluminum and Tianshan Aluminum's profits remain relatively flat [1] Group 2: Industry Trends - The copper industry focuses on mergers and acquisitions, production growth, and niche metal business expansion [1] - The aluminum sector emphasizes dividend distribution and share buybacks [1] Group 3: Earnings Forecast Adjustments - UBS raises full-year profit forecasts for Zijin Mining, Luoyang Molybdenum, and Jiangxi Copper by 6%, 11%, and 26% respectively [1] - The target prices for Zijin Mining and Luoyang Molybdenum are increased to HKD 32.5 and HKD 16.5 respectively [1] - Jiangxi Copper's rating is upgraded to "Buy" with a target price raised to HKD 27.1 [1] Group 4: Preferred Stocks - China Hongqiao remains UBS's top pick in the aluminum sector due to its potential for deleveraging and commitment to shareholder returns, maintaining a target price of HKD 26.8 and a "Buy" rating [1]