政策红利打开低价购金窗口，一场千里淘金盛宴正在海南上演。 出品｜虎嗅商业消费组 作者｜柳柳 编辑｜苗正卿 题图｜AI生成 12月18日海南自贸港正式启动全岛封关，到今天已超过10天，多项相关政策，相继实现了首批业务落地。 海口海关数据显示，封关首周，海南新增外资备案企业1972家，同比增长2.3倍。 封关后，海南将以"零关税、低税率、简税制"为重点核心政策。政策指出，"零关税"政策主要包括："一 线"（国境线）全面放开：除极少数例外（如危害国家安全、生态环境等特殊物品），绝大多数境外货物进 入海南自贸港时，免征进口关税、进口环节增值税和消费税； "二线"（海南与内地之间）有限监管：海南与内地之间的货物流动视为"进口"，需按规定补税，但对岛内 企业生产的货物加工增值超过30%（含）进入内地时，免征进口关税（已在洋浦保税港区试点，封关后推 广至全岛）；特定清单"零关税"则全覆盖。 一个重要变化在于，"零关税"商品税目比例从封关前的约21%大幅跃升至74%。企业进口自用的生产设备、 运营所需的交通工具、原辅料，基本全部免征进口关税、增值税和消费税。个人购物享受的免税额度也提 升至每人每年10万元。 对于普通消费者来 ...

Group 1 - The international gold price is reported at $4,340.8 per ounce, while international palladium is at $1,608.4 per ounce, and international silver is at $72.28 per ounce. The domestic gold price is at ¥992.9 per gram [1] - Major domestic gold retailers have varying prices, with Lao Feng Xiang at the highest price of ¥1,408 per gram and China Gold at the lowest price of ¥1,312 per gram. Other notable prices include Chow Tai Fook at ¥1,405, Chow Sang Sang at ¥1,406, and Liufuk Jewelry at ¥1,405 per gram [1]

Group 1 - The core viewpoint of the news is that China Gold's stock performance shows a slight increase, but financing activities indicate a low net buying position and a high short selling balance [1][2] Group 2 - On December 29, China Gold's stock rose by 0.37% with a transaction volume of 159 million yuan, while the financing buy amount was 17.03 million yuan and the financing repayment was 17.42 million yuan, resulting in a net financing buy of -384,000 yuan [1] - As of December 29, the total financing and securities lending balance for China Gold was 352 million yuan, with the financing balance at 350 million yuan, accounting for 2.57% of the circulating market value, which is below the 40th percentile level over the past year [1] - In terms of securities lending, on December 29, China Gold repaid 1,500 shares and sold 16,200 shares, with a selling amount of 131,400 yuan, while the securities lending balance was 1.95 million yuan, exceeding the 70th percentile level over the past year [1] Group 3 - China Gold Group was established on December 16, 2010, and listed on February 5, 2021, focusing on the research, design, production, sales, and brand operation of gold jewelry products [2] - The company's main business revenue composition includes 98.83% from gold products, 0.67% from brand usage fees, 0.22% from management service fees, and 0.15% from other businesses [2] - For the period from January to September 2025, China Gold reported operating revenue of 45.764 billion yuan, a year-on-year decrease of 1.74%, and a net profit attributable to shareholders of 335 million yuan, down 55.08% year-on-year [2] Group 4 - Since its A-share listing, China Gold has distributed a total of 2.52 billion yuan in dividends, with 1.848 billion yuan distributed over the past three years [3] - As of September 30, 2025, the top ten circulating shareholders of China Gold included Hong Kong Central Clearing Limited as the fifth largest shareholder, holding 17.5866 million shares, a decrease of 6.1263 million shares from the previous period [3] - The Gold Stock ETF (517520) is the ninth largest circulating shareholder, holding 9.6681 million shares as a new shareholder [3]

Group 1 - The core viewpoint of the article indicates a general decline in gold stocks, with significant drops in share prices for companies such as Zijin Mining International, Shandong Gold, China Gold International, and Chifeng Jilong Gold Mining [1][1][1] - As of the report, Zijin Mining International (02259) fell by 5.41% to HKD 145.2, Shandong Gold (01787) decreased by 4.47% to HKD 35.5, China Gold International (02099) dropped by 4.14% to HKD 155.2, and Chifeng Jilong Gold Mining (06693) declined by 4.15% to HKD 30.52 [1][1][1] Group 2 - The precious metals market experienced a sharp decline after an initial rise, with spot gold falling below USD 4,480 per ounce and COMEX gold dropping below USD 4,500 [1][1][1] - East China Securities suggests that in the short term, the combination of expansive fiscal policy in the U.S. (ending government shutdown), loose monetary policy (recent 75 basis points rate cut), and seasonal factors (potentially higher initial non-farm payrolls and CPI in January-February) may delay the Federal Reserve's rate cuts, thus raising interest rate expectations [1][1][1] - Additionally, the planned visit of Trump to China in April 2026 may further improve market risk appetite, contributing to a bearish outlook for gold prices [1][1][1] Group 3 - In the medium to long term, concerns regarding Trump's interference with the independence of the Federal Reserve and the sustainability of U.S. debt may lead to ongoing dollar credit risks, which could sustain the global central banks' demand for gold [1][1][1]

Market Overview - The jewelry sector experienced a decline of 0.45% on December 29, with ST Xinhua Jin leading the drop [1] - The Shanghai Composite Index closed at 3965.28, up 0.04%, while the Shenzhen Component Index closed at 13537.1, down 0.49% [1] Individual Stock Performance - Notable performers included: - Chao Hong Ji (002345) with a closing price of 12.95, up 1.09% and a trading volume of 128,100 shares [1] - China Gold (600916) closed at 8.11, up 0.37% with a trading volume of 196,700 shares [1] - Jin Yi Culture (002721) closed at 3.10, up 0.32% with a trading volume of 400,800 shares [1] - Conversely, ST Xinhua Jin (600735) led the decline with a closing price of 4.90, down 4.30% and a trading volume of 159,000 shares [2] Capital Flow Analysis - The jewelry sector saw a net outflow of 23 million yuan from institutional investors and 6.94 million yuan from speculative funds, while retail investors had a net inflow of 29.94 million yuan [2] - The capital flow for individual stocks showed: - Chao Hong Ji had a net outflow of 20.61 million yuan from institutional investors [3] - China Gold experienced a net inflow of 456,520 yuan from institutional investors [3] - Deep China A (000017) had a net inflow of 330,950 yuan from institutional investors [3]

Group 1 - The international gold price is reported at $4531.8 per ounce, while international palladium is at $1923.4 per ounce, and international silver is at $79.13 per ounce [1] - The domestic gold price is reported at ¥1016.5 per gram [1] Group 2 - Major domestic gold retailers have varying prices, with Lao Miao Gold at ¥1417 per gram as the highest and China Gold at ¥1312 per gram as the lowest [1] - Other notable prices include Chow Tai Fook at ¥1413 per gram, Chow Sang Sang at ¥1412 per gram, and Liufuk Jewelry at ¥1413 per gram [1] - Additional prices from other retailers include Xie Rui Lin at ¥1413 per gram, Jin Zhi Zun at ¥1413 per gram, Chao Hong Ji at ¥1413 per gram, Cai Bai Jewelry at ¥1372 per gram, Lao Feng Xiang at ¥1408 per gram, and Zhou Liu Fu at ¥1398 per gram [1]

Core Viewpoint - The investigation report on the major fall accident at China Gold Group Inner Mongolia Mining Co., Ltd. identifies it as a significant production safety responsibility incident, resulting in 6 fatalities and 1 injury [2]. Accident Overview and Causes - The accident occurred on July 23, 2025, when a grid board above the flotation tank of the 1 flotation machine collapsed, causing 7 individuals, including a teacher and 6 students, to fall into the tank. The direct cause was identified as the grid board being smaller than the design specifications, improper welding of supporting steel, and significant corrosion due to prolonged exposure to moisture [4]. Emergency Response - Upon discovering the fall, the workshop staff immediately activated the emergency stop switch and organized the evacuation, successfully rescuing one individual. Subsequent rescue teams arrived to drain the flotation tank and conduct further rescue operations [5]. Issues Exposed - The report highlighted various issues involving the company, regulatory bodies, local government, and educational institutions, including inadequate safety management, lack of effective oversight, and insufficient risk awareness among supervising teachers [7]. Accountability Measures - A total of 42 individuals were held accountable, including 4 individuals from China Gold Inner Mongolia Mining who were sent for criminal prosecution. Various disciplinary actions were taken against 27 individuals from China Gold Group and its subsidiaries, as well as 6 personnel from Northeast University [9]. Administrative Penalties - Administrative penalties were imposed on China Gold Inner Mongolia Mining, and several organizations, including China Gold Group and local government bodies, were required to submit written reports to their superiors [10]. Rectification and Prevention Measures - The report emphasized the need for regulatory bodies to enforce safety regulations rigorously and for companies to strengthen their safety management practices. It also called for improvements in operational standards for mining projects and enhanced safety management for internships [12].

Core Viewpoint - The investigation report on the major accident at China Gold Group Inner Mongolia Mining Co., Ltd. reveals significant safety management failures leading to the tragic incident that resulted in 6 fatalities and 1 injury during a student internship program [2][3]. Group 1: Accident Details - The accident occurred on July 23, 2025, when a grid panel above a flotation tank collapsed, causing 7 individuals, including a teacher and 6 students, to fall into the tank [2]. - The direct cause of the accident was identified as the grid panel being smaller than the design specifications, improper welding of supporting steel, and significant corrosion due to prolonged exposure to moisture [2]. Group 2: Management and Regulatory Failures - The report highlights chaotic on-site safety management, gaps in safety production management systems, and superficial hazard identification and remediation processes [3]. - Issues were noted regarding the internship supervising teachers' lack of risk awareness and the absence of targeted safety plans [3]. - Regulatory bodies failed to effectively enforce safety responsibilities and oversight, leading to inadequate safety management in the mining sector [3]. Group 3: Accountability and Recommendations - The report recommends accountability for 42 individuals, including criminal charges against 4 employees of China Gold Group Inner Mongolia Mining [3]. - Administrative penalties were imposed on China Gold Group, and various governmental bodies were instructed to submit written reports to their superiors [3]. - The report emphasizes the need for stricter safety regulations and improved safety management practices in mining operations and educational institutions [4].

事故直接原因是事故区域安装的格栅踏板小于设计尺寸，加装的支撑槽钢焊接方式不符合承重钢结构焊接要求，焊 缝长期处于潮湿环境中锈蚀严重，人员偏离安全路线聚集在作业平台，人群荷载超过槽钢与主梁连接处的焊缝承载 力，致使槽钢和格栅踏板突然脱落，人员坠入浮选槽被矿浆淹溺窒息而亡，排除了中毒、灼烧和机械伤害等因素。 坠落洞口 12月27日，内蒙古自治区应急管理厅网站公布中国黄金集团内蒙古矿业有限公司"7.23"较大坠落事故调查报告。 2025年7月23日10时24分许，中国黄金集团内蒙古矿业有限公司发生一起较大坠落事故，造成6人遇难，1人受伤，直 接经济损失2840万元。 事故调查组经调查认定，该事故是一起因加装槽钢与工字钢梁连接，焊接工艺不合规，焊缝锈蚀严重，设施设备维 护保养不到位，部分实习人员聚集后荷载超过焊缝承载力，致使加装的槽钢和格栅踏板脱落而导致的生产安全责任 事故。 据报告描述，7月23日，东北大学资源与土木工程学院55名师生进入中金内蒙古矿业选矿厂三系列浮选车间现场学 习。10时24分，人员站立的1#浮选机浮选槽上方格栅踏板脱落，1名老师和6名学生共7人坠入浮选槽内。 报告指出，事故发生单位中金内蒙古矿业 ...

2025.12.26 报告强调，监管部门要坚持"管行业必须管安全、管业务必须管安全、管生产经营必须管安全"要求，严格履行安全监管责任，推动矿山安全专项整治。企 业要深刻汲取事故教训，举一反三，持续夯实安全生产主体责任，加强安全生产管理。金属和非金属矿山选矿厂建设项目要提高建设运营标准。与此同 时，相关生产经营单位和高校要深化实习安全管理、完善应急预案等措施切实保障实习安全。 微信编辑| 夏木 第一财经持续追踪财经热点。若您掌握公司动态、行业趋势、金融事件等有价值的线索，欢迎提供。专用邮箱：bianjibu@yicai.com （注：我们会对线索进行核实。您的隐私将严格保密。） 推荐阅读 本文字数：1119，阅读时长大约3分钟 据新华社，记者27日从内蒙古自治区应急管理厅网站获悉，中国黄金集团内蒙古矿业有限公司较大坠落事故调查报告向社会公布。该事故发生于2025年7 月23日，造成6人遇难、1人受伤，经调查认定为一起较大生产安全责任事故。报告详细揭示了事故经过、原因及责任追究等情况。 报告称，按照实习计划，东北大学资源与土木工程学院55名师生进入中金内蒙古矿业选矿厂三系列浮选车间现场学习。10时24分，人员站立 ...