Core Viewpoint - The company ST Shengtun (600711) is optimizing its power structure and increasing energy supply by entering into an investment and energy management agreement with Green Energy International Limited for a solar-storage project [1] Group 1: Agreement Details - The subsidiary Brother Mining SASU (BMS) will collaborate with Green Energy International Limited, which will be responsible for the design, construction, and full investment of the solar-storage power station [1] - BMS will consume 100% of the generated electricity at a preferential price during the project cooperation period as per the contract [1] Group 2: Financial Implications - The pricing model established in the agreement includes a 10-year cooperation period with a phased decreasing price structure [1] - The total estimated payment for electricity over the 10 years is approximately $48.06 million, subject to final actual electricity consumption calculations [1]

Market Overview - The energy metals sector increased by 0.59% on July 29, with Boqian New Materials leading the gains [1] - The Shanghai Composite Index closed at 3609.71, up 0.33%, while the Shenzhen Component Index closed at 11289.41, up 0.64% [1] Stock Performance - Boqian New Materials (605376) closed at 42.28, up 4.21%, with a trading volume of 102,200 shares and a turnover of 427 million yuan [1] - Huayou Cobalt (603799) closed at 46.48, up 2.38%, with a trading volume of 850,800 shares and a turnover of 3.968 billion yuan [1] - Tengyuan Mining (301219) closed at 59.04, up 2.06%, with a trading volume of 127,000 shares and a turnover of 758 million yuan [1] - Other notable performances include: - Sai Rui Mining (300618) at 38.55, up 1.10% [1] - Yongxing Materials (002756) at 36.58, up 0.61% [1] - Cangge Mining (000408) at 47.68, up 0.51% [1] Capital Flow - The energy metals sector experienced a net outflow of 36.08 million yuan from institutional investors, while retail investors saw a net outflow of 13.8 million yuan [2] - Conversely, speculative funds recorded a net inflow of 174 million yuan [2] Individual Stock Capital Flow - Tengyuan Mining (301219) had a net inflow of 66.62 million yuan from institutional investors, while retail investors faced a net outflow of 80.57 million yuan [3] - Boqian New Materials (605376) saw a net inflow of 65.08 million yuan from institutional investors, with retail investors also experiencing a net outflow of 53.37 million yuan [3] - Huayou Cobalt (603799) had a net outflow of 21.46 million yuan from institutional investors, while speculative funds recorded a net inflow of 9.79 million yuan [3]

证券代码：600711 证券简称：ST盛屯 公告编号：2025-030 盛屯矿业集团股份有限公司 关于担保进展的公告 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个别及连带责任。 ●公司下属公司兴安埃玛矿业有限公司（以下简称"埃玛矿业"）以内蒙古科 右前旗巴根黑格其尔矿区铅锌矿采矿权为公司在中国工商银行股份有限公司厦门东 区支行（以下简称"中国工商银行厦门东区支行"）申请的最高额不超过人民币 104,271.57万元整的授信提供抵押担保。 公司为下属公司华金矿业在贵阳银行股份有限公司册亨支行（以下简称"贵阳 银行册亨支行"）申请的最高额本金不超过人民币10,000万元整的授信提供连带责 任保证担保。 公司为下属公司盛屯锌锗在中信银行股份有限公司成都分行（以下简称"中信 银行成都分行"）申请的最高额不超过人民币5,000万元整的债务提供连带责任保 证担保。 公司为下属公司盛屯锌锗在浦银金融租赁股份有限公司（以下简称"浦银金租" ）办理的108,085,729.96元的融资租赁业务提供连带责任保证担保；公司为下属公 司汉源盛屯锌锗在浦银金 ...

Core Viewpoint - The announcement details the pledge and release of shares by the controlling shareholder of Shengtun Mining Group, indicating a significant portion of shares are pledged while the overall financial health of the controlling shareholder remains stable [1][3]. Summary by Sections Share Pledge Details - The controlling shareholder, Shenzhen Shengtun Group, holds 40,305,000 shares, accounting for 1.30% of the total shares of the company [1]. - As of the announcement date, the total shares held by the controlling shareholder and its concerted parties amount to 554,799,897 shares, representing 17.95% of the total share capital [1]. - After the current pledge, the total number of pledged shares by the controlling shareholder and its concerted parties is 234,430,000 shares, which is 42.25% of their holdings and 7.59% of the company's total share capital [1]. Pledge and Release of Shares - The announcement specifies that 90,200,000 shares were pledged for financing to supplement liquidity, with a pledge period from July 11, 2025, to July 10, 2028 [1]. - Additionally, 108,230,000 shares were also pledged for liquidity purposes, with the same pledge period [1]. - The release of 120,000,000 shares occurred on July 14, 2025, which represents 26.23% of the pledged shares and 3.88% of the total share capital [1]. Overall Pledged Share Situation - The total pledged shares by the controlling shareholder and its concerted parties are 234,430,000 shares, which is 42.25% of their total holdings and 7.59% of the company's total share capital [2]. - The controlling shareholder's future pledge expirations within the next six months amount to 36 million shares, representing 7.87% of their holdings and 1.16% of the company's total share capital, with a corresponding financing balance of 40 million yuan [2]. Financial Health and Risk Management - The controlling shareholder's credit status is reported as good, with adequate repayment capabilities [3]. - In the event of a margin call risk, the controlling shareholder plans to take measures such as early repayment and additional pledges to mitigate risks [3]. - The share pledge will not adversely affect the company's operations, main business, financing costs, or governance structure [3].

证券代码：600711 证券简称：ST 盛屯 公告编号：2025-029 盛屯矿业集团股份有限公司 关于控股股东部分股份质押及解质押的公告 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个别及连带责任。 重要内容提示 ●盛屯矿业集团股份有限公司（以下简称"公司"或"盛屯矿业"）控股股 东深圳盛屯集团有限公司（以下简称"深圳盛屯集团"）持有公司股份 457,494,897 股，占公司股份总数的 14.80%；公司实际控制人姚雄杰先生持有公 司股份 40,305,000 股，占公司股份总数的 1.30%。 ●截至本公告披露日，公司控股股东、实际控制人及其一致行动人累计持有 公司股份数量为 554,799,897 股，占公司总股本比例为 17.95%；本次股份质押 后，公司控股股东及其一致行动人累计质押公司股份数量 234,430,000 股，占其 持有公司股份的比例为 42.25%，占公司总股本的比例为 7.59%。 公司于近日收到控股股东关于部分股份质押及解质押的通知，具体情况如 下： | | | 1.本次股份质押基本情况 | | | | ...

Group 1 - The Federal Reserve's interest rate cut debate is intensifying, with Waller supporting a cut while Powell remains cautious, highlighting a divergence in perspectives on economic data and inflation impacts from tariffs [1][11] - Market reactions to news can be counterintuitive, as institutional interests often dictate stock price movements rather than the news itself, leading to situations where good news results in price declines and bad news leads to price increases [2][10] Group 2 - The analysis of two companies, "Shengtun Mining" and "Qifeng New Materials," reveals that institutional investors leverage market perceptions of concepts and good news to influence stock prices, rather than the actual performance metrics [6][9] - The importance of "institutional inventory" data is emphasized, as it reflects the trading activity of large investors, which can predict stock price trends more accurately than superficial news [9][10] Group 3 - The focus should be on how institutional investors utilize news, such as Waller's comments on interest rate cuts, rather than speculating on the timing or magnitude of potential cuts [11] - Ordinary investors are advised to look beyond surface-level information and to utilize quantitative data analysis tools to navigate the complexities of the market [12][13]

Group 1 - The metal zinc concept has seen a rise of 2.71%, ranking fourth among concept sectors, with 32 stocks increasing in value, including notable gainers such as Zhongse Co., Hunan Silver, and Wolong New Energy, which hit the daily limit up [1][2] - The leading stocks in the zinc sector by net inflow of main funds include Zhongse Co. with a net inflow of 211 million yuan, followed by Hunan Silver and Huayu Mining with net inflows of 163 million yuan and 137 million yuan respectively [2][3] - The net inflow ratio of main funds for Zhongse Co., CITIC Metal, and Guocheng Mining are 26.70%, 13.20%, and 12.90% respectively, indicating strong investor interest [3][4] Group 2 - The overall market performance shows that the zinc sector is part of a broader trend, with other sectors like rare earth permanent magnets and MLOps also experiencing gains, while sectors such as housing inspection and PCB concepts faced declines [2] - The trading volume and turnover rates for leading stocks in the zinc sector indicate active trading, with Zhongse Co. achieving a turnover rate of 7.30% and Hunan Silver at 14.93% [3][4] - Stocks such as Dazhong Mining and Hongda Co. experienced declines of 2.88% and 0.46% respectively, highlighting the mixed performance within the sector [1][5]

Investment Rating - The report maintains an "Accumulate" rating for the non-ferrous metals industry [2]. Core Views - The report highlights that the "anti-involution" policy is guiding a short-term strength in energy metals, while gold is under pressure due to rising U.S. Treasury yields and a stronger dollar [1]. - The report suggests that despite short-term fluctuations, the long-term bullish trend for gold remains intact due to central bank purchases and fiscal concerns [1]. - Industrial metals are experiencing mixed trends, with copper facing supply disruptions and aluminum entering a potential inventory accumulation phase [1]. Summary by Sections Weekly Data Tracking - The non-ferrous metals sector showed mixed performance this week, with varying price movements across different metals [10]. - The report notes that the overall non-ferrous metals index increased by 1.0%, with energy metals up by 1.0% and industrial metals up by 1.5% [16]. Industrial Metals - **Copper**: Global copper inventory increased slightly to 518,000 tons, with supply disruptions from MMG and Hudbay Minerals affecting logistics [1]. The copper price has seen fluctuations due to macroeconomic factors and demand-side pressures [1]. - **Aluminum**: The report indicates a potential inventory accumulation cycle, with production recovering in some regions while demand remains subdued [1]. Energy Metals - **Lithium**: The report notes a continued strength in lithium prices, driven by supply constraints and robust demand from electric vehicle sales [1]. The price of battery-grade lithium carbonate rose to 64,000 yuan/ton, reflecting a 1.5% increase [26]. - **Metal Silicon**: The report discusses a short-term upward trend in silicon prices due to production cuts and recovery expectations in polysilicon plants [1]. Key Stocks - The report recommends several stocks for investment, including Zijin Mining, Shandong Gold, and Luoyang Molybdenum, all rated as "Buy" [5]. Company Announcements - Zijin Mining announced an asset acquisition of the RG gold mine project, with a valuation of 1.2 billion yuan [34]. - Ganfeng Lithium completed the acquisition of Mali Lithium, enhancing its lithium resource integration strategy [34]. Price and Inventory Changes - The report provides detailed price movements for various metals, indicating that gold prices increased by 4.2% over the week, while copper prices saw a slight decline [21][23]. Market Trends - The report emphasizes the ongoing supply-demand dynamics in the non-ferrous metals market, with particular attention to the impact of macroeconomic indicators on metal prices [1].

Group 1 - The metal zinc concept index declined by 0.08%, ranking among the top declines in the concept sector, with major declines seen in companies such as Dazhong Mining, *ST Zhengping, and Shengda Resources [1] - Among the 17 stocks that rose, ST Shengtun, Huayu Mining, and Guocheng Mining had the highest increases of 2.76%, 2.38%, and 2.15% respectively [1] - The metal zinc concept sector experienced a net inflow of 0.36 billion yuan, with 21 stocks seeing net outflows, and 8 stocks with outflows exceeding 10 million yuan [2] Group 2 - The top net outflow was from ST Shengtun, with a net outflow of 48.91 million yuan, followed by Xiyang Co., Baiyin Nonferrous, and Yuguang Gold & Lead with outflows of 29.36 million yuan, 24.32 million yuan, and 18.51 million yuan respectively [2] - The leading stocks for net inflow included Zijin Mining, Shanjin International, and Western Mining, with net inflows of 1.09 billion yuan, 60.22 million yuan, and 25.12 million yuan respectively [2][3] - The trading volume and performance of various companies in the metal zinc sector were highlighted, with ST Shengtun showing a decline of 2.76% and a turnover rate of 3.44% [3]

Group 1 - The metal lead concept increased by 2.55%, ranking third in concept sector gains, with 28 stocks rising, including Zhuhai Group and Jinhui Co., which hit the daily limit [1] - Leading gainers in the metal lead sector included Xiyu Co. (5.95%), Tibet Zhufeng (4.86%), and Western Mining (4.60%) [1] - The top decliners were Chifeng Gold (-1.78%), Shanjin International (-0.94%), and Hunan Gold (-0.90%) [1] Group 2 - The metal lead concept saw a net inflow of 0.21 billion yuan, with 14 stocks receiving net inflows, and 5 stocks exceeding 30 million yuan in net inflows [2] - Xiyu Co. led the net inflow with 1.83 billion yuan, followed by ST Shengtun (597.97 million yuan) and Zhuhai Group (493.65 million yuan) [2] - The net inflow ratios for Jinhui Co. (37.62%), Xiyu Co. (15.00%), and ST Shengtun (11.19%) were the highest in the sector [3] Group 3 - The trading performance of stocks in the metal lead sector showed significant variations, with Jinhui Co. and Xiyu Co. having notable turnover rates of 0.73% and 4.85% respectively [3] - Other stocks like Western Mining and Chifeng Gold experienced declines in net inflow, indicating potential selling pressure [5] - The overall market sentiment in the metal lead sector appears positive, with several stocks achieving substantial gains amidst mixed performances [1][2]