Core Insights - The performance of the gold and non-ferrous metal sectors in 2025 is significantly influenced by the dual factors of the Federal Reserve's interest rate cuts and external uncertainties, with gold futures prices surpassing $4200 per ounce, marking a year-to-date increase of over 50% [2][4] - The non-ferrous metal sector shows a mixed performance, with industrial metals facing price volatility due to tariff policies and global economic expectations, while energy metals are showing signs of recovery with reduced price declines and improved profit quality [2][5] Industry Performance - The non-ferrous metal industry has maintained high production levels and fixed asset investment growth, leading to increased profitability across most metal prices [5][11] - In the first half of 2025, the A-share precious metal sector achieved revenue of 188.25 billion yuan, a year-on-year increase of 27.15%, and a net profit of 9.68 billion yuan, up 64.72%, indicating a clear volume-price resonance [6][12] - The industrial metal sector reported revenue of 1.36 trillion yuan, a 3.46% increase, with net profit growth reaching 24.42%, while energy metals saw a remarkable turnaround with a net profit increase of 1389.34% [6][12] Market Dynamics - The recent surge in the non-ferrous metal sector is attributed to macroeconomic monetary easing policies and supply-demand imbalances, with significant capital inflows into leading companies like Zijin Mining and Luoyang Molybdenum [5][11] - The price of copper, a key indicator of global economic health, has risen by 13% this year, nearing historical highs, despite cautious capital expenditure from major copper companies [7][11] - The geopolitical risks and policy uncertainties, including the U.S. government shutdown and ongoing conflicts, have driven investors towards gold as a safe haven, further boosting demand [4][5] Company Performance - Leading companies in the sector, such as Zijin Mining and Luoyang Molybdenum, have seen significant stock price increases, with Zijin Mining's A-share price rising by 99.47% year-to-date [11] - The performance of copper-related companies remains resilient, with Jin Chengxin achieving a 198.52% year-on-year increase in copper metal production, supporting its revenue growth [17] - Conversely, the lithium market has faced severe challenges, with companies like Shengxin Lithium Energy reporting significant losses due to plummeting lithium prices [17]

Core Viewpoint - The report highlights the growth trends in China's non-ferrous metal production, indicating a positive outlook for the industry from 2025 to 2031, with specific data on production volumes and growth rates [1]. Industry Summary - In April 2025, China's production of ten non-ferrous metals reached 6.76 million tons, reflecting a year-on-year increase of 3.1% [1]. - From January to April 2025, the cumulative production of these metals totaled 26.6 million tons, showing a cumulative growth of 2.3% [1]. - The report is based on data from the National Bureau of Statistics and is compiled by Zhiyan Consulting, a leading industry research institution in China [1].

说起中国黄金产量，谁能想到山东这个农业大省居然稳坐头把交椅，这事儿听着就有点儿出人意料。 按2023年的数据，全国黄金总产量403吨左右，山东一家独大，贡献了165吨多，占了四成还多。 河南跟在后面87吨，江西54吨排第三，甘肃51吨第四，云 南28吨勉强第五。 山东为什么这么猛？它那地质构造特殊，华北地台下头断裂带多，金矿藏得深又富，勘探技术一上去，产量就蹭蹭往上窜。反观南方那些多山的地方，金脉 散乱，挖起来费劲儿，产量自然上不去。 这排名一摆开，就让人琢磨，为什么经济发达的沿海省份反倒没影儿？其实啊，黄金开采靠的是资源禀赋，不是GDP高低。山东这第一，坐了14年不动摇， 背后是几代地质人的汗水堆出来的。 山东的黄金产量为什么总压别人一头？这得从地质说起。华北地台那块儿地壳稳当，郯庐断裂带像条大龙，串起一堆大型金矿床。储量近千吨，品位高，开 采成本低，这优势不是天上掉的。 招远、莱州这些地方，早几年就建起亚洲最大的金矿公司，山东黄金集团年产金上百吨，产业链拉得老长，从挖矿到炼金一条龙。2023年，山东成品金产量 165.49吨，矿产金也占全国大头。 对比河南的87吨，山东几乎是它的两倍。河南靠洛阳和灵宝的矿 ...

Group 1 - Copper stocks continue to decline, with notable drops in companies such as Luoyang Molybdenum (-4.21% to HKD 14.8), Jiangxi Copper (-3.95% to HKD 31.58), Minmetals Resources (-2.68% to HKD 6.53), and China Nonferrous Mining (-2.21% to HKD 13.69) [1][1][1] Group 2 - The copper market is experiencing intense fluctuations, influenced by supply-side disruptions such as the shutdown of Indonesia's Grasberg mine, earthquakes in the Democratic Republic of Congo, and incidents at the Aifenhao mine [1][1][1] - Uncertainties in international trade and the Federal Reserve's interest rate policies are contributing to potential disturbances in copper prices [1][1][1] Group 3 - According to CITIC Futures, the market is currently facing pressure due to the U.S. government shutdown causing delays in economic data releases, leading to increased risk aversion among investors [1][1][1] - Goldman Sachs indicates that the short-term upward price potential for copper is limited to USD 11,000 per ton, while maintaining a long-term bullish outlook, citing an oversupply in the market as a key factor [1][1][1]

Core Insights - Southbound funds reduced their holdings in Jiangxi Copper Company Limited (00358.HK) by 12.79 million shares on October 16, 2025, marking a decrease of 3.58% [1][2] - Over the past five trading days, there were three days of net reductions totaling 3.76 million shares, while in the last twenty trading days, there were ten days of net increases totaling 11.20 million shares [1][2] - As of now, southbound funds hold 345 million shares of Jiangxi Copper, accounting for 24.83% of the company's total issued ordinary shares [1][2] Trading Data Summary - On October 16, 2025, total holdings were 345 million shares, with a reduction of 12.79 million shares [2] - On October 15, 2025, total holdings were 357 million shares, with a reduction of 7.36 million shares [2] - On October 14, 2025, total holdings were 365 million shares, with a reduction of 3.68 million shares [2] - On October 13, 2025, total holdings were 368 million shares, with an increase of 14.98 million shares [2] - On October 3, 2025, total holdings were 353 million shares, with an increase of 5.10 million shares [2] Company Overview - Jiangxi Copper Company Limited primarily engages in the mining, smelting, and processing of copper and gold [2] - The company operates through two main segments: copper-related and gold-related industries, producing a range of products including cathode copper, gold, silver, sulfuric acid, copper rods, tubes, foils, selenium, tellurium, rhenium, and bismuth [2] - The products are mainly used in various industries such as electrical, electronics, light industry, machinery manufacturing, construction, transportation, and military [2]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲 載 列 江 西 銅 業 股 份 有 限 公 司（「本公司」）在 中 華 人 民 共 和 國（「中 國」）上 海證券交易所網站(www.sse.com.cn)刊 登 之《江 西 銅 業 股 份 有 限 公 司2025 年 第 一 次 臨 時 股 東 大 會 會 議 資 料》、《江 西 銅 業 股 份 有 限 公 司2025年第一 次A股 類 別 股 東 大 會 會 議 資 料》及《江 西 銅 業 股 份 有 限 公 司2025年第一次 H股 類 別 股 東 大 會 會 議 資 料》，僅 供 參 閱。 特 此 公 告。 江西銅業股份有限公司 会议召开时间：2025 年 10 月 28 日 会议议程 一、宣布现场会议开始 二、介绍现场会议出列席情况 董事 ...

江西铜业股份有限公司 2025 年第一次临时股东大会 会 议 资 料 会议召开时间：2025 年 10 月 28 日 会议议程 一、宣布现场会议开始 二、介绍现场会议出列席情况 2.审议《江西铜业股份有限公司关于取消监事会的议 案》 3.审议《关于修订<江西铜业股份有限公司股东会议事 规则>的议案》 （二）普通决议案 4.审议《关于修订<江西铜业股份有限公司董事会议事 规则>的议案》 5.审议《关于修订<江西铜业股份有限公司独立董事工 作制度>的议案》 6.审议《关于修订<江西铜业股份有限公司关联交易管 理办法>的议案》 三、宣读现场会议议程 四、宣读现场会议须知 五、宣读议案 （一）特别决议案 1.审议《关于修订<江西铜业股份有限公司章程>的议 案》 7.审议《关于修订<江西铜业股份有限公司募集资金使 用管理办法>的议案》 8.审议《江西铜业股份有限公司关于 2025 年半年度利 润分配方案的议案》 9.审议《江西铜业股份有限公司关于选举刘志宏先生为 公司独立非执行董事的议案》 六、股东讨论审议议案 七、通过现场会议计票人和监票人名单 八、现场参会股东进行书面表决投票 九、休会、统计表决结果 十、宣布表决结 ...

Core Viewpoint - Jiangxi Copper has shown significant stock price growth this year, with a year-to-date increase of 97.35% and a recent surge of 10.90% over the last five trading days [1] Company Overview - Jiangxi Copper Co., Ltd. is located in Nanchang, Jiangxi Province, and was established on January 24, 1997, with its stock listed on January 11, 2002 [1] - The company primarily engages in the mining, smelting, and processing of copper and gold, as well as the extraction and processing of rare metals, sulfur chemicals, and financial and trade sectors [1] - The revenue composition includes: cathode copper (50.21%), copper rod and wire (19.55%), gold (14.50%), copper concentrate and other non-ferrous metals (6.91%), silver (3.21%), copper processing products (2.66%), chemical products (0.85%), and others (0.46%) [1] Financial Performance - For the first half of 2025, Jiangxi Copper reported operating revenue of 256.96 billion yuan, a year-on-year decrease of 5.91%, while net profit attributable to shareholders increased by 15.42% to 4.175 billion yuan [2] - The company has distributed a total of 22.183 billion yuan in dividends since its A-share listing, with 6.219 billion yuan distributed over the past three years [3] Shareholder Information - As of June 30, 2025, Jiangxi Copper had 117,800 shareholders, a decrease of 4.97% from the previous period [2] - Major shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 25.3919 million shares, and several ETFs that also increased their positions [3]

Group 1 - Gold prices experienced a short-term correction, leading to a collective decline in A-share gold stocks [1] - Notable declines included Luoyang Molybdenum (603993) and Shengda Resources, both dropping over 5%, while Zijin Mining (601899) and Zhejiang Fortune Holdings (002266) fell over 4% [1] - Other companies such as Tongling Nonferrous Metals, Shengtun Mining (600711), Jiangxi Copper (600362), and Zhaojin Mining also saw declines exceeding 3% [1] Group 2 - Specific stock performance data indicated Luoyang Molybdenum decreased by 5.51% with a total market value of 348.5 billion, and a year-to-date increase of 152.71% [2] - Shengda Resources fell by 5.28%, with a market capitalization of 1.87 billion and a year-to-date increase of 127.57% [2] - Zijin Mining's stock dropped by 4.12%, with a market value of 797.6 billion and a year-to-date increase of 102.93% [2] - Zhejiang Fortune Holdings decreased by 4.00%, with a market capitalization of 2.38 billion and a year-to-date increase of 48.52% [2] - Other notable declines included Tongling Nonferrous Metals down 3.80% (747 billion market value), Jiangxi Copper down 3.67% (1,381 billion market value), and Zhaojin Mining down 3.41% (126 billion market value) [2]

Core Insights - The industrial metal sector experienced a decline of 3.85% on October 14, with Shengda Resources leading the drop [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Stock Performance - Notable gainers included: - Chuangjiang New Material (002171) with a closing price of 11.32, up 10.01% and a trading volume of 389,500 shares [1] - Huayu Mining (601020) closed at 31.36, up 5.16% with a trading volume of 1,125,400 shares [1] - Market Hetian (600595) closed at 5.59, up 5.08% with a trading volume of 2,158,600 shares [1] - Major decliners included: - Shengda Resources (000603) closed at 26.22, down 8.39% with a trading volume of 499,600 shares [2] - Jiangxi Copper (600362) closed at 38.58, down 6.81% with a trading volume of 1,386,800 shares [2] - Zhongse Co. (000758) closed at 7.24, down 4.99% with a trading volume of 2,322,700 shares [2] Capital Flow - The industrial metal sector saw a net outflow of 5.176 billion yuan from major funds, while retail investors contributed a net inflow of 5.134 billion yuan [2] - Specific stock capital flows indicated: - China Aluminum (601600) had a net inflow of 221 million yuan from major funds [3] - Huayu Mining (601020) experienced a net inflow of 126 million yuan from major funds [3] - Chuangjiang New Material (002171) had a net inflow of 122 million yuan from major funds [3]