Core Viewpoint - Gold stocks experienced a significant decline today, with major companies reporting substantial drops in their share prices due to a sharp decrease in spot gold prices [1] Group 1: Company Performance - China Gold International (02099) fell by 8.15%, closing at 115 HKD [1] - Tongguan Gold (00340) decreased by 8.04%, ending at 2.06 HKD [1] - Lingbao Gold (03330) dropped by 6.95%, with a closing price of 15.4 HKD [1] - Chifeng Jilong Gold Mining (600988) (06693) saw a decline of 6.11%, closing at 26.76 HKD [1] Group 2: Market Trends - On September 4, spot gold prices plummeted, briefly falling below the 3520 USD mark, with the latest price reported at 3531.89 USD/ounce, reflecting a daily drop of 0.77% [1] - COMEX gold futures were reported at 3588.3 USD/ounce, showing a decline of over 1% for the day [1] - Baocheng Futures noted an accelerated upward trend in precious metals since last Friday, driven by weakening performance in both domestic and international equity markets, which has increased market demand for safe-haven assets [1] Group 3: Economic Indicators - Current market focus is on the U.S. non-farm payroll data for August, which is expected to have a significant impact on the Federal Reserve's interest rate decisions in September [1]

Group 1 - The Hong Kong gold stocks experienced a high opening but subsequently declined, with notable drops including Tongguan Gold down 8%, China Gold International down over 5%, and Lingbao Gold down 4.4% [1][2] - Recent spot gold prices reached new highs, but there was a slight decline of 0.27% in early Asian trading, falling below $3,550 per ounce [2] - Analysts indicate that after reaching new highs, the risk of a short-term technical correction in gold stocks has significantly increased, urging investors to remain vigilant [2][3] Group 2 - Many gold companies' stock prices have risen far beyond their net profit growth rates, leading to historically high valuation metrics such as P/E ratios, suggesting signs of a bubble [3] - High valuations necessitate either a stock price correction or earnings growth to be absorbed, increasing short-term risks [3] - The long-term drivers for gold prices, including central bank purchases, de-dollarization, and geopolitical risks, remain strong, indicating a future dynamic between short-term volatility and long-term trends [3]

Core Viewpoint - The Hong Kong gold stocks have shown a trend of high opening and low closing, with significant declines in various companies' stock prices, indicating a potential short-term technical correction after recent highs in the gold market [1] Group 1: Market Performance - Recent performance of gold stocks includes notable declines: Tongguan Gold down 8%, China Gold International down over 5%, Lingbao Gold down 4.4%, and others experiencing declines of over 3% [1] - The latest prices for key gold stocks are as follows: Tongguan Gold at 2.060, China Gold International at 118.800, and Lingbao Gold at 15.820 [1] Group 2: Market Analysis - The spot gold market has recently reached new highs, but there was a drop of 0.27% today, falling below 3550 USD/ounce [1] - Analysts suggest that the rapid increase in gold stock prices has outpaced the growth in net profits, leading to historically high valuation metrics such as P/E ratios, indicating potential bubble-like conditions [1] - The long-term drivers for gold prices, including central bank purchases, de-dollarization, and geopolitical risks, remain strong, suggesting a battle between short-term volatility and long-term trends [1]

Core Insights - The report highlights significant changes in the Hong Kong Stock Connect holdings, with notable increases and decreases in ownership percentages for various companies [1][2][3] Group 1: Increased Holdings - Haotian International Investment (01341) saw the largest increase in holdings, up by 2.83%, bringing its total to 58.85% [2] - Chifeng Jilong Gold Mining (06693) and Shandong Gold (01787) also experienced notable increases of 1.81% and 1.44%, respectively, with holdings of 43.83% and 54.55% [2] - Other companies with significant increases include Yimai Sunshine (02522) at +1.43% (41.36%) and Changfei Optical Fiber Cable (06869) at +1.01% (55.00%) [2] Group 2: Decreased Holdings - Kinglong Magnetics (06680) had the largest decrease in holdings, down by 1.67% to 25.77% [2] - Other notable decreases include Chunli Medical (01858) at -1.41% (46.64%) and Longpan Technology (02465) at -1.17% (50.37%) [2] - Additional companies with reduced holdings include Chongqing Steel (01053) at -0.76% (30.19%) and Tianqi Lithium (09696) at -0.66% (37.65%) [3] Group 3: Five-Day Changes - In the last five trading days, Jingtai Holdings (02228) had the highest increase at +3.39%, with a total holding of 42.87% [3] - Anjiu Food (02648) also saw a significant increase of 3.31% (17.38%) [3] - Shandong Gold (01787) increased by 2.83% (54.55%) during this period [3] Group 4: Twenty-Day Changes - Over the past twenty days, Anjiu Food (02648) experienced the largest increase of 13.05%, bringing its holding to 17.38% [4] - Lens Technology (06613) and Yimai Sunshine (02522) also saw substantial increases of 12.03% (12.56%) and 10.48% (41.36%), respectively [4]

格隆汇9月3日丨赤峰黄金(06693.HK)公告，为便于广大投资者更全面深入地了解公司2025年半年度经营 成果、财务状况等情况，公司计划于2025年9月10日下午4:00-5:00在东方财富路演平台举行2025年半年 度业绩说明会，就投资者关心的问题进行交流。欢迎广大投资者积极参与。 ...

格隆汇9月3日丨赤峰黄金(06693.HK)公告，为便于广大投资者更全面深入地了解公司2025年半年度经营 成果、财务状况等情况，公司计划于2025年9月10日下午4:00-5:00在东方财富路演平台举行2025年半年 度业绩说明会，就投资者关心的问题进行交流。欢迎广大投资者积极参与。 ...

Chifeng Jilong Gold Mining Co., Ltd. 赤峰吉隆黃金礦業股份有限公司 （H股股份代號：6693） （於中華人民共和國註冊成立的股份有限公司） 關於召開2025年半年度業績說明會的公告 本公告乃由赤峰吉隆黃金礦業股份有限公司（「本公司」或「公司」）自願作出。 重要內容提示： 1 • 會議召開時間：2025年9月10日（星期三）下午4:00-5:00（香港時間） • 會議召開方式：東方財富路演平台網絡文字互動 • 投資者可於2025年9月4日至9月10日下午5:00前登錄東方財富路演平台 (http://roadshow.eastmoney.com/luyan/4880017)或掃描下方二維碼，或通過 郵箱IR@cfgold.com向公司提問，公司將在說明會上對投資者普遍關注的 問題進行回答。 為便於廣大投資者更全面深入地了解公司2025年半年度經營成果、財務狀況 等情況，公司計劃於2025年9月10日下午4:00-5:00在東方財富路演平台舉行 2025年半年度業績說明會（「半年度業績說明會」），就投資者關心的問題進行 交流。歡迎廣大投資者積極參與。 一、半年度業績說明會的介绍 ...

Core Viewpoint - The Hong Kong IPO market is active, with 57 new listings and a total fundraising amount of 131.9 billion HKD as of August 25. However, many companies face challenges in meeting both domestic and Hong Kong regulatory requirements for listing [1]. Group 1: Hong Kong IPO Overview - As of August 25, 2023, there have been 57 new IPOs on the Hong Kong Stock Exchange, raising a total of 131.9 billion HKD [1]. - There are currently 211 companies that have submitted applications for listing in Hong Kong [1]. Group 2: Listing Challenges - Companies looking to list in Hong Kong must comply with both domestic laws and Hong Kong's regulatory framework, making the IPO preparation process complex and demanding [1]. Group 3: Resources for Companies - A compilation of Hong Kong listing rules and disclosure documents for domestic companies planning to list in Hong Kong has been organized to assist businesses in understanding the latest regulatory dynamics [1].

| 代码 | 名称 | 涨跌幅 √ | 最新价 | 总市值 | | --- | --- | --- | --- | --- | | 00340 | 潼关黄金 | 5.24% | 2.410 | 105.98亿 | | 06693 | 赤峰黄金 | 5.08% | 29.400 | 558.72 Z | | 01818 | 招金矿业 | 4.40% | 28.000 | 991.87亿 | | 02099 | 中国黄金国际 | 4.19% | 129.300 | 512.56亿 | | 00815 | 中国白银集团 | 3.92% | 0.530 | 12.41亿 | | 01787 | 山东黄金 | 3.63% | 32.000 | 1431.5亿 | | 01815 | 珠峰黄金 | 3.53% | 1.760 | 21.79亿 | | 03330 | 灵宝黄金 | 3.53% | 16.150 | 207.85亿 | | 02899 | 紫金矿业 | 2.58% | 27.800 | 7388.57亿 | 金价新高不断，港股黄金股集体高开。其中，潼关黄金、赤峰黄金涨超5%，招金矿业、中国黄金国际 涨超4% ...

Core Viewpoint - The gold stocks have collectively opened higher, driven by increased safe-haven sentiment and rising expectations for interest rate cuts by the Federal Reserve, as international gold prices hit a new historical high [1] Group 1: Gold Stock Performance - Tongguan Gold (00340) rose by 5.24%, trading at HKD 2.41 [1] - Chifeng Gold (06693) increased by 5.08%, trading at HKD 29.4 [1] - Zhaojin Mining (01818) gained 4.4%, trading at HKD 28 [1] - China Gold International (02099) rose by 4.19%, trading at HKD 129.3 [1] - Shandong Gold (01787) increased by 3.63%, trading at HKD 32 [1] - Lingbao Gold (03330) rose by 3.53%, trading at HKD 16.15 [1] Group 2: Market Influences - International gold prices reached a new high, with New York futures gold surpassing USD 3600 per ounce and spot gold rising for six consecutive days, breaking the USD 3540 mark [1] - Weak U.S. economic data and negative evidence regarding Federal Reserve Governor Cook have increased market expectations for future monetary easing, supporting precious metal prices [1] Group 3: Upcoming Economic Indicators - The market is awaiting the upcoming non-farm payroll data, which is crucial for the Federal Reserve's September interest rate decision [1] - Morgan Stanley's latest report has set a year-end target price for gold at USD 3800 per ounce, emphasizing the strong negative correlation between gold and the U.S. dollar as a key pricing logic [1] - A continued depreciation of the dollar index is expected to directly benefit precious metals priced in dollars [1]