Core Viewpoint - The surge in gold prices, surpassing $4800 per ounce, has led to significant gains in gold-related stocks, with 大唐黄金 (Dagang Gold) leading the charge with a rise of over 10% [1]. Group 1: Gold Price Movement - As of January 21, spot gold prices have reached a new historical high of $4823.1 per ounce, marking a 1.26% increase [1]. - The increase in gold prices is attributed to diversified demand from institutional investors, retail investors, and central banks, all of which are increasing their gold holdings to mitigate macroeconomic uncertainties [1]. Group 2: Stock Performance - 大唐黄金 (Dagang Gold) saw a rise of 10.29%, trading at 0.75 HKD [1]. - Other gold stocks also experienced significant increases, including 灵宝黄金 (Lingbao Gold) up 7.37% to 24.46 HKD, 中国黄金国际 (China Gold International) up 5.13% to 205 HKD, and 招金矿业 (Zhaojin Mining) up 4.24% to 39.8 HKD [1]. Group 3: Future Outlook - UBS precious metals strategist Joni Teves anticipates that gold prices will continue to have upward momentum in the first half of the year, with a potential target of $5000 per ounce if concerns regarding the independence of the Federal Reserve persist [1].

Group 1 - Hong Kong gold stocks showed strong performance at the beginning of trading, with Lingbao Gold rising over 6% [1] - Datang Gold experienced an increase of over 10% [1] - Other companies such as China Gold International and Shandong Gold also saw gains [1]

国际金银价格不断创出历史新高，港股市场相关概念股集体走强，其中，灵宝黄金(330.HK)一度大涨超8%至24.66港元，创历史新高价，市值超310亿港 元。 消息面上，由于地缘政治紧张局势不断加剧，对避险资产的需求上升，黄金和白银价格飙升至新的高位。现货白银昨日一度涨至95.89美元/盎司，再创历 史新高；现货黄金今日盘中已突破4830美元/盎司，亦再创历史新高。 ...

Group 1 - Gold prices have reached record highs, with silver prices also nearing historical peaks, driven by increased demand for safe-haven assets due to the worsening Greenland crisis and a collapse in Japanese government bonds [1] - The Polish central bank has approved a plan to purchase up to 150 tons of gold, which will increase the country's total gold reserves to 700 tons, positioning Poland among the top 10 countries globally in terms of gold reserves [1] - UBS precious metals strategist Joni Teves indicated that diversification demand is the core driver of the current rise in gold prices, with institutional investors, retail investors, and central banks increasing their gold holdings to address macroeconomic uncertainties [2] Group 2 - Teves expects gold prices to have upward momentum in the first half of the year, potentially reaching $5,000 per ounce if concerns about the independence of the Federal Reserve continue to rise [2] - Silver is anticipated to benefit from the rise in gold prices and its own narrowing supply-demand gap, with a possibility of challenging $100 per ounce this year [2] - The copper market is expected to tighten due to demand driven by energy transition, leading to an upward shift in price levels [2] Group 3 - Related Hong Kong stocks in the gold and precious metals sector include Zijin Mining International, Chifeng Jilong Gold Mining, Shandong Gold Mining, Zhaojin Mining Industry, Lingbao Gold Company, Tongguan Gold, China Gold International, China Silver Group, and Mount Everest Gold [3]

Group 1 - Gold prices have reached record highs, with silver prices also nearing historical peaks, driven by increased demand for safe-haven assets due to the worsening Greenland crisis and a collapse in Japanese government bonds [1] - The Polish central bank has approved a plan to purchase up to 150 tons of gold, which will increase the country's total gold reserves to 700 tons, positioning Poland among the top 10 countries globally in terms of gold reserves [1] - UBS precious metals strategist Joni Teves indicated that diversification demand is the core driver of the current rise in gold prices, with institutional and retail investors, as well as central banks, increasing their gold holdings to address macroeconomic uncertainties [2] Group 2 - Teves expects gold prices to have upward momentum in the first half of the year, potentially reaching $5,000 per ounce if concerns about the independence of the Federal Reserve continue to rise [2] - Silver is anticipated to benefit from the rise in gold prices and its own narrowing supply-demand gap, with a possibility of challenging $100 per ounce this year [2] - The copper market is expected to tighten due to demand from energy transition, leading to an upward shift in price levels [2] Group 3 - Related Hong Kong stocks in the gold and precious metals sector include Zijin Mining International, Chifeng Jilong Gold Mining, Shandong Gold Mining, Zhaojin Mining Industry, Lingbao Gold, Tongguan Gold, China Gold International, China Silver Group, and Mount Everest Gold [3]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has released a report on the status of domestic companies' overseas securities issuance and listing applications, indicating several companies are in various stages of the IPO process in Hong Kong [1]. Group 1: Companies and Their IPO Status - Sifang Precision (300468.SZ) has submitted materials for a Hong Kong IPO and has received acceptance from the CSRC [1][2]. - Zhenqu Technology is also in the process of applying for a Hong Kong IPO, with materials accepted by the CSRC [1][2]. - Jingze Biopharmaceutical (Hefei) has its Hong Kong IPO application in a supplementary materials status [1][2]. - Weili Zhibo-B (09887) has received acceptance for its full circulation application from the CSRC [1][2]. - Lingbao Gold's full circulation application is currently in a supplementary materials status [1][2]. Group 2: Application Details - Lingbao Gold Group's full circulation application was received on January 13, 2026, and is in supplementary materials status [2]. - Sifang Precision's direct overseas listing application was accepted on January 14, 2026, with the underwriting by CMB International and Guosen Securities [2]. - Weili Zhibo's full circulation application was also accepted on January 14, 2026, with legal representation from JunHe Law Offices [2]. - Beijing Extreme Intelligence Technology's full circulation application is in supplementary materials status as of January 16, 2026 [2]. - Jingze Biopharmaceutical's direct overseas listing application is in supplementary materials status as of January 16, 2026, with underwriting by CICC and legal representation from Tian Yuan Law Firm [2]. - Zhenqu Technology's direct overseas listing application was accepted on January 16, 2026, with underwriting by CITIC Securities [2].

近日，中国证监会发布境内企业境外发行证券和上市备案情况表(首次公开发行及全流通)(截至2026年1月16日)。其中，四方 精创（300468）(300468.SZ)、臻驱科技拟香港IPO获中国证监会接收材料；景泽生物拟香港IPO备案状态为补充材料；维立志 博-B(09887)股份全流通获中国证监会接收材料。灵宝黄金(03330)股份全流通备案状态为补充材料。 | 企业名称 | 申报类型 | 申报主体 | 拟上市证券交易所 | 中介机构 | | 接收日期 | 备案状态 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 保荐人/主承销商 | 境内律师 | | | | 灵宝黄金集团股 份有限公司 | 全流通 | | 香港联交所 | | 北京市竞天 公诚律师事 | 2026年1月13日 | 补充材料 | | | | | | | 务所 | | | | 深圳四方精创资 | 直接境外上 | | 香港联交所 | 招银国际融资有 限公司,国信证 | 金社律师事 | 2026年1月14日 | 已接收 | | 讯股份有限公司 | 市 | | | 券(香港)融 ...

Group 1 - The core viewpoint of the news highlights a collective decline in Hong Kong's non-ferrous metal stocks, with significant drops observed in companies such as China Nonferrous Mining, China Aluminum, and China Hongqiao, among others [1] - The report mentions a strategy proposed by Bank of America, suggesting investment in non-AI tech stocks that benefit from the AI boom, focusing on sectors like electrification, infrastructure, and metals [1] - Bank of America identifies metals such as copper, silver, lithium, aluminum, and nickel as key beneficiaries of the growing demand driven by the restructuring of energy infrastructure across economies [1] Group 2 - Specific stock performance data shows China Nonferrous Mining down 7.26%, China Aluminum down 4.62%, and China Hongqiao down 4.60%, among others, indicating a broader trend of declines in the sector [2] - Other notable declines include Luoyang Molybdenum down 4.59%, Lingbao Gold down 4.29%, and Chifeng Jilong Gold down 4.09%, reflecting a significant downturn in the non-ferrous metal market [2] - The overall trend indicates that multiple companies in the non-ferrous metal sector, including Jiangxi Copper and Zijin Mining, experienced declines of over 3%, suggesting a challenging market environment [2]

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Market Performance - Major technology stocks showed mixed performance, with Alibaba rising over 5% and Kuaishou increasing over 4%, while Meituan fell over 3% and both Netease and JD.com dropped over 1% [1][2] - The Hang Seng Index rose by 0.56%, the Hang Seng China Enterprises Index increased by 0.32%, and the Hang Seng Tech Index gained 0.66% [5] AI and Healthcare Sector - AI application-related stocks surged, particularly in the AI healthcare sector, with Alibaba Health soaring nearly 19% and accumulating over 50% increase within the month [1][10] - Notable gains in AI healthcare stocks included Alibaba Health, which rose by 18.96%, and other companies like Yidu Tech and Weigao [4][11] Gold and Commodities - Gold stocks continued to rise, with Lingbao Gold increasing by 5% and several others reaching historical highs [1][6] - The price of gold increased, with spot gold rising to $4632.67 per ounce, driven by weaker U.S. inflation data [6] Semiconductor Sector - The semiconductor sector saw gains, with Huahong Semiconductor rising over 4% and other companies like Nexperia and SMIC also showing positive movement [1][8] Oil Sector - Oil stocks were active, with China Petroleum & Chemical Corporation and CNOOC both rising over 3% [1][12] - As of January 13, WTI crude oil futures settled at $60.93 per barrel, reflecting a 2.7% increase [12] Tourism and Aerospace Sector - The tourism and sightseeing sector faced declines, with Ctrip Group dropping over 6% [1][14] - The commercial aerospace sector also saw a downturn, with companies like Goldwind Technology and JunDa falling over 4% [1][15] Company Management Changes - Haidilao's founder Zhang Yong returned to management as CEO, succeeding Guo Yiqun, who will focus on enhancing management efficiency and decision-making processes [19] Economic Outlook - The domestic PMI and inflation data suggest a potential economic recovery in China, which could enhance investor sentiment and attract more capital to the Hong Kong market [21]