Market Overview - The Hong Kong stock market has experienced significant volatility recently, with fluctuations of around 800 points impacting investor sentiment and market dynamics [1][2]. - Investors are advised to closely monitor market trends and utilize tools such as the Hang Seng Index bull and bear certificate distribution chart to gauge market sentiment [1][2]. Investment Strategies - A high percentage of investors (76%) are currently favoring bull certificates, indicating a strong interest in buying at lower levels following market declines [1][2]. - Caution is advised for investors entering the market during periods of high volatility, with recommendations to wait for signs of stabilization before attempting to capitalize on rebounds [2][3]. Individual Stock Analysis - China Mobile (00941) has seen fluctuations in its stock price, with recent adjustments attributed to an increase in the value-added tax rate from 6% to 9%, impacting market perceptions of revenue and profitability [4][5]. - Investors are showing interest in China Mobile's call options, particularly code 24413, which has a strike price of 88.88 HKD and a leverage of approximately 13 times [5]. Commodity Insights - The price of gold has surged nearly 30% in the past month, leading to increased caution among investors regarding potential corrections due to rapid price increases [6][7]. - For long-term investors, current market adjustments may present buying opportunities, while short-term trading is deemed risky due to high volatility [7][8]. Company-Specific Developments - Pop Mart (9992) is expanding its presence in the UK, planning to establish a European headquarters and open seven new stores, which has positively influenced its stock performance despite broader market declines [9][10]. - Xiaomi (01810) continues to struggle with its stock price, recently dropping to around 34.36 HKD, with investor sentiment mixed despite a planned buyback of 2.5 billion HKD in shares [11][12]. Contact Information - Investors are encouraged to utilize the hotline (00+852 3988 6909) for inquiries regarding market conditions and product offerings, especially during periods of heightened volatility [13][14].

Core Insights - Zijin Mining has transformed from a small county-owned mining company into a global mining giant over the past thirty years, starting from a low-grade gold mine in Fujian, China, and significantly increasing its gold resource reserves from 5.45 tons to nearly 300 tons through technological innovation [1][24][25] - The company capitalized on the "Belt and Road" initiative to expand its global footprint, acquiring world-class mines during industry downturns, including the Kamoa-Kakula copper mine in the Democratic Republic of Congo and the Bor copper mine in Serbia [1][8][31] - Zijin Mining now holds significant mining investments in 12 countries, with overseas gold and copper resource reserves and production exceeding half of the company's total [1][20][43] Group 1: Company Development - The development history of Zijin Mining is a narrative of overcoming challenges, resonating with China's reform and opening-up, and aligning with the "Belt and Road" initiative [2][25] - The company has evolved from a single gold mining operation to a multi-metal cross-border operation, including gold, copper, and lithium, reflecting its strategic growth and exploration [2][31] - The company's unique "Five Rings Integration" mining engineering management model has become a core competitive advantage in overseas markets, revitalizing previously overlooked mines [1][20][35] Group 2: Globalization Strategy - The globalization of Zijin Mining is not coincidental but a necessary choice in response to global mining changes and favorable national policies, focusing on regions with significant resource potential and favorable business environments [4][27] - The company has established a comprehensive global resource layout, with assets spread across 18 countries, effectively mitigating risks associated with single-market policy fluctuations and resource supply [35][39] - Zijin Mining's overseas projects have created over 50,000 local jobs and contributed to infrastructure development, education, and healthcare in host countries, demonstrating a commitment to sustainable cross-border operations [43][44] Group 3: Key Projects - The Kamoa-Kakula copper mine is a cornerstone of Zijin Mining's overseas copper business, with a projected production of 437,000 tons in 2024, marking a historical high and positioning it as Africa's largest and the world's fourth-largest copper mine [11][34] - The 3Q lithium salt lake project in Argentina, acquired in 2022, has rapidly progressed to an annual production capacity of 20,000 tons of lithium carbonate, addressing the growing demand in the new energy sector [10][33] Group 4: Competitive Advantages - Zijin Mining's success in cross-border operations is attributed to five core advantages, including strategic alignment with the "Belt and Road" initiative, a focus on high-value minerals, and a commitment to local community investment [12][35] - The company has established a robust cross-border risk management system, addressing geopolitical, currency, and price cycle risks, which has proven effective in maintaining profitability amid domestic policy changes [18][41] - Zijin Mining's capital operation capabilities have been bolstered by its dual listing in Hong Kong and A-shares, enhancing its market valuation and providing strong financial support for overseas expansion [40][43] Group 5: Future Outlook - Looking ahead, Zijin Mining aims to become one of the top three global mining companies, with a focus on green and high-tech operations, planning to achieve significant production targets by 2028 [43][44] - The company will continue to expand its cross-border layout in core minerals like gold, copper, and lithium, while exploring new fields such as deep-sea mining [44]

Group 1 - The core viewpoint of the news is that the rebound in non-ferrous metals, particularly driven by the recovery of spot gold prices, indicates a strong market sentiment and potential for sustained growth in the sector [1][2][8] - The non-ferrous ETF Huabao (159876) saw a significant rebound, with prices rising over 6.7% at one point and closing up 6.4%, recovering the 20-day moving average [1][8] - Key stocks in the sector performed well, with Hunan Gold hitting the daily limit, and other companies like Zhongxi Rare Earth, Zijin Mining, Northern Rare Earth, Luoyang Molybdenum, and China Aluminum also showing strong gains [1][8] Group 2 - The strong rebound in non-ferrous metals can be attributed to two main factors: market misjudgment regarding the new Federal Reserve Chairman and geopolitical disturbances highlighting the importance of "strategic autonomy" [2][9] - Goldman Sachs suggests that the new Fed Chairman, Waller, is likely to favor interest rate cuts, which could support risk assets, while Deutsche Bank emphasizes that the demand for gold as a reserve asset is shifting from "yield-driven" to "survival-driven" due to geopolitical uncertainties [2][9] - Deutsche Bank maintains a bullish outlook on gold, projecting prices could reach $6,000, with significant buying activity from Chinese buyers, while UBS identifies $4,500 as a strong support level [2][9] Group 3 - Guosheng Securities believes that the combination of supply-demand mismatches, macroeconomic easing, and industrial upgrades will sustain high profitability in the non-ferrous metals sector for the next 3-5 years [3][10] - However, there are warnings from Dongfang Jincheng about potential risks from speculative profit-taking, which could increase market volatility [3][10] - Huatai Securities recommends a moderate allocation to the non-ferrous metals sector, suggesting a 10%-20% share in investment portfolios to benefit from price increases while diversifying risk [3][10]

证券代码：601899 证券简称：紫金矿业 编号：临 2026-009 紫金矿业集团股份有限公司 关于 2023 年股票期权激励计划第一个行权期自主行权结果 暨股份变动月度公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 2026 年 1 月期间，紫金矿业集团股份有限公司（以下简称"公司"）2023 年股票期权激励计划（以下简称"本次股权激励"）第一个行权期行权数量为 0 股。 截至本公告披露日，本次股权激励第一个行权期累计已行权并完成过户登 记的股票数量为 1,220 万股，占本期可行权总量的 93.13%。 根据规则，本次股权激励任一行权期启动后，至当期全部行权完成前，作 为 A+H 上市公司，公司需于每月结束后 2 个交易日内披露当月股票期权行权结果。 一、决策程序及信息披露 经公司于 2025 年 10 月 17 日召开的第八届董事会第十三次会议和第八届监事 会第十三次会议审议通过，本次股权激励第一个行权期行权条件已成就，具体内 容详见公司临 2025-089 号公告。 二、基本情况 （一）行权情况 ...

海外監管公告 此乃紫金礦業集團股份有限公司（「本公司」）登載於中華人民共和國上海證券交易所（「上 交所」）網頁的公告。 2026 年 2 月 3 日 中國福建 * 本公司之英文名稱僅供識別 证券代码：601899 证券简称：紫金矿业 编号：临 2026-009 紫金矿业集团股份有限公司 关于 2023 年股票期权激励计划第一个行权期自主行权结果 暨股份变动月度公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ⚫ 2026 年 1 月期间，紫金矿业集团股份有限公司（以下简称"公司"）2023 年股票期权激励计划（以下简称"本次股权激励"）第一个行权期行权数量为 0 股。 （二）股票来源 公司向激励对象定向发行的 A 股普通股股票。 （三）行权人数 截至本公告披露日，本次股权激励第一个行权期符合行权条件的激励对象共 12 人，其中 11 人已完成行权；剩余 1 人因距其最近一次减持公司股票未满 6 个 月，为避免触发短线交易，尚未行权。 ⚫ 截至本公告披露日，本次股权激励第一个行权期累计已行权并完成过户登 记的 ...

Group 1 - The article discusses the potential catalysts for the non-ferrous metal industry, particularly focusing on copper resources and strategic reserves [1][5]. - The Non-Ferrous Metals Industry Association emphasizes the need to improve copper resource reserves and expand national strategic reserves, suggesting the inclusion of copper concentrate in reserve considerations [5]. - Key companies involved in copper mining and processing are listed, including Zijin Mining, Luoyang Copper, Jiangxi Copper, and others, indicating a competitive landscape in the copper sector [6].

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1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: 紫金礦業集團股份有限公司 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601899 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 20,588,693,140 | RMB | | 0.1 RMB | | 2,058,869,314 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 20,588,693,140 | RMB | | 0.1 RMB | | 2,058,869,314 | | 2. 股份分類 | 普通股 | 股份類別 | H | ...

Summary of Key Points Core Viewpoint - The A-share market experienced significant block trading activity on February 3, with a total transaction value of 2.236 billion yuan, highlighting notable trading in specific stocks such as Shanghai Airport, Zijin Mining, and Longjing Environmental Protection [1]. Group 1: Block Trading Activity - A total of 80 stocks underwent block trading, with Shanghai Airport leading at 349 million yuan, followed by Zijin Mining at 274 million yuan and Longjing Environmental Protection at 161 million yuan [1]. - Among the stocks traded, 7 were sold at par value, 2 at a premium, and 71 at a discount, indicating a predominance of discounted trades [1]. Group 2: Premium and Discount Rates - The stocks with the highest premium rates were DeMa Technology at 5.67% and Shen High-Speed at 2.01% [1]. - The stocks with the highest discount rates included Kai Fa Technology at 29.94%, New Wave Shares at 23.56%, and Ai Meike at 23.43% [1]. Group 3: Institutional Buying and Selling - The top institutional buying positions included Shanghai Airport at 349 million yuan, Longxin Zhongke at 116 million yuan, and Xinyuan Shares at 60.575 million yuan [2]. - The leading institutional selling positions were Nanxin Technology at 8.4 million yuan and Guobo Electronics at 4.1784 million yuan [2].

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1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: 紫金礦業集團股份有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601899 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 20,588,693,140 | RMB | | 0.1 RMB | | 2,058,869,314 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 20,588,693,140 | RMB | | 0.1 RMB | | 2,058,869,314 | | 2. 股份分類 | 普 ...

Market Overview - The A-share market experienced a significant upward trend on February 3, with the Shanghai Composite Index closing at 4067.74 points, up 1.29%. The Shenzhen Component rose by 2.19%, the ChiNext Index increased by 1.86%, the Sci-Tech Innovation Index gained 2.44%, and the Northbound 50 Index surged by 3.27%. The total trading volume across the Shanghai and Shenzhen markets reached 25,656 billion yuan [1]. Sector Performance - Over 4,800 stocks in the market saw gains, with the photovoltaic industry chain showing strong performance, particularly in the space photovoltaic sector, where companies like Aotewei and Zerun New Energy hit the daily limit with a 20% increase [3]. - The commercial aerospace sector rebounded, with stocks such as Jieli Suojin and Aerospace Development also reaching the daily limit [3]. - The chemical sector remained active, with Wanfeng shares achieving a four-day limit increase [3]. - The precious metals concept saw localized activity, with Hunan Gold hitting the daily limit [4][5]. Precious Metals Market - The precious metals market saw a sharp rebound, with Hunan Gold achieving a remarkable 7-day, 6-limit increase. Other notable performers included Xiaocheng Technology, which rose over 18%, and Zijin Mining, which increased by over 6% [5]. - On February 3, gold prices surged, with spot gold rising over 5% to surpass $4,900 per ounce, while silver also maintained an upward trend, increasing over 8% to break through $86 per ounce [6]. - According to China Galaxy Securities, the recent decline in precious metal prices can be viewed as a market-driven cooling following a period of rapid price increases, rather than a panic exit of funds. This price correction is seen as a normal phenomenon that helps release overheated market sentiment [6]. - Guotai Junan Securities indicated that the recent significant drop in precious metal prices is a technical adjustment to the irrational increases seen since the beginning of the year, rather than the end of a long-term upward trend for gold. The decline in speculative sentiment and leverage levels is expected to support a healthier upward trend for gold in the near term [6]. Computing Power Leasing Sector - The computing power leasing sector showed continued strength, with Tianwei Vision experiencing a direct limit increase [7][8]. - Other companies in this sector, such as Wangsu Technology and Capital Online, saw increases of over 10% [8]. - The CPO concept also performed actively, with Robotech hitting a 20% limit increase, and companies like Juguang Technology, Dekeli, and Tianfu Communication rising over 10% [8]. - According to Dongwu Securities, major overseas cloud providers have begun raising prices for their services, marking the first increase in years. This trend is expected to influence domestic cloud providers to follow suit, creating investment opportunities in the AI cloud industry as demand increases [8].