新华财经北京8月13日电 近期，上市公司陆续披露2025年半年报及2025年半年度业绩预告。从黄金行业 上市公司业绩看，受金价高企影响，黄金行业上市公司业绩表现不俗。业绩回暖的同时，相关上市公司 频繁获机构调研。从机构调研的内容看，未来黄金产量、黄金产能扩张计划、公司成本变化等，是机构 普遍关心的问题。 业绩大幅好转 从产业链角度看，黄金矿产开采端上市公司业绩普遍表现良好，包括西部黄金、湖南黄金、山东黄金、 中金黄金在内的多家上市公司业绩出现较为明显的增长。 山东黄金预计2025年上半年实现归属于母公司所有者的净利润为25.5亿元至30.5亿元，同比增长84.3% 到120.5%。2025年上半年，公司统筹优化生产布局，强化核心技术攻关，提升精细管理水平，在科学 匹配项目建设的同时，显著提升运营效能，实现生产效率与资源利用率、项目建设速度的协同提升，同 时叠加黄金价格上行因素，公司利润同比涨幅较大，持续巩固了向上向好向优发展态势。 西部黄金预计2025年半年度实现归属于母公司所有者的净利润为1.3亿元至1.6亿元，同比增长96.35%至 141.66%。预计2025年半年度实现归属于母公司所有者的扣除非经常性 ...

Industry Investment Rating - The industry investment rating is "Outperform the Market" and is maintained [2] Core Views - The report highlights the recent performance of precious metals, with gold rising by 1.24% and silver by 3.79% due to the easing of panic following weaker non-farm data [5] - Copper prices increased by 1.40% this week, benefiting from improved economic sentiment in the US [6] - The lithium market is experiencing a significant price surge due to potential supply constraints, with expectations of prices reaching 65,000 to 90,000 yuan per ton in the near future [7] - Cobalt prices are expected to rise as procurement of high-priced raw materials increases among manufacturers [8] - The rare earth market is showing signs of improvement, with exports increasing by 21.4% year-on-year in July [8] Summary by Sections Section 1: Market Performance - The non-ferrous metal sector saw a weekly increase of 5.24%, ranking third among sectors [17] - The top five stocks in the sector this week included Huaguang New Materials and Ningbo Yunsheng [18] Section 2: Prices - Basic metals saw price increases: LME copper up 1.40%, aluminum up 1.69%, zinc up 3.83%, lead up 1.49%, and tin up 1.17% [20] - Precious metals also saw gains: COMEX gold up 1.24% and silver up 3.79% [20] Section 3: Inventory - Global visible copper inventory increased by 19,482 tons, while aluminum inventory rose by 2,716 tons [33]

Market Overview - The precious metals sector increased by 0.12% on August 12, with Shandong Gold leading the gains [1] - The Shanghai Composite Index closed at 3665.92, up 0.5%, while the Shenzhen Component Index closed at 11351.63, up 0.53% [1] Top Performing Stocks - Shandong Gold (600547) closed at 31.55, with a rise of 0.86% and a trading volume of 260,500 shares, amounting to a transaction value of 823 million yuan [1] - Chifeng Jilong Gold Mining (600988) closed at 24.58, up 0.24% with a trading volume of 405,300 shares [1] - Zhaojin Mining Industry (000506) closed at 10.25, with a slight increase of 0.10% and a trading volume of 128,100 shares [1] Fund Flow Analysis - The precious metals sector experienced a net outflow of 397 million yuan from institutional investors, while retail investors saw a net inflow of 300 million yuan [2][3] - The top stock with the highest net outflow from institutional investors was Chifeng Jilong Gold Mining, with a net outflow of 103 million yuan [3] ETF Information - The gold stock ETF (product code: 159562) tracks the CSI Hong Kong-Shenzhen Gold Industry Stock Index and has seen a 9.05% change over the last five days [5] - The ETF has a price-to-earnings ratio of 21.98 and a recent net outflow of 909,000 yuan [5]

Investment Rating - The report maintains an "Outperform" rating for the non-ferrous metals industry [2] Core Views - The report expresses a long-term positive outlook for precious metals, driven by expectations of interest rate cuts by the Federal Reserve and a weakening dollar, which is anticipated to support gold prices [5] - Industrial metal prices are on the rise, supported by significant infrastructure projects in China, which are expected to boost overall demand [5] - The report highlights the mixed performance of minor metals, with some prices increasing due to recovering manufacturing demand [5] - Energy metals, particularly lithium, are experiencing price declines, warranting attention on future demand growth [5] Summary by Sections 1. Industry Data Review 1.1 Precious Metals - Gold prices increased by 2.19% during the week of August 4-8, 2025, amid expectations of interest rate cuts [5] 1.2 Industrial Metals - Prices for copper, aluminum, lead, zinc, tin, and nickel saw weekly increases of 0.6%, 0.9%, 0.7%, 0.8%, 0.9%, and 1.1% respectively [5][28] 1.3 Minor Metals - Prices for praseodymium-neodymium metals and oxides showed mixed trends, while tungsten prices increased [5][30] 1.4 Energy Metals - Lithium concentrate prices fell, while nickel products generally saw price increases [5][35] 2. Market Data - The Shanghai Composite Index rose by 2.11%, with the non-ferrous metals sector increasing by 5.78% during the same period [36] 3. Key Events of the Week - Federal Reserve Vice Chair Michelle Bowman indicated support for three interest rate cuts this year, with an 88.9% probability of a 25 basis point cut in September [43]

Investment Rating - The report maintains a "Recommended" investment rating for the gold industry, copper industry, aluminum industry, tin industry, and antimony industry [10]. Core Views - The Federal Reserve is expected to implement three interest rate cuts within the year, which is favorable for gold prices [5]. - The gold price is projected to maintain an upward trend due to ongoing purchases by the People's Bank of China [4][5]. - Short-term demand for copper and aluminum is weak, but medium to long-term supply-demand dynamics are expected to tighten [10]. - Tin prices are supported by tight supply conditions, while antimony prices are expected to remain weak in the short term but may strengthen in the long term due to supply constraints [10]. Summary by Sections Industry Performance - The non-ferrous metals sector has shown strong performance with a 1-month increase of 11.5%, a 3-month increase of 21.4%, and a 12-month increase of 44.5% [3]. Precious Metals Market Data - The London gold price was $3,394.15 per ounce, up $47.30 from August 1, reflecting a 1.41% increase. The London silver price was $38.29 per ounce, up $1.80, a 4.93% increase [4][30]. Copper and Aluminum Data - LME copper closed at $9,700 per ton, up $108 from August 1, a 1.13% increase. SHFE copper closed at ¥78,460 per ton, up ¥70, a 0.09% increase [39]. - Domestic aluminum prices were ¥20,630 per ton, up ¥140 from August 1 [40]. Tin and Antimony Data - Domestic refined tin prices were ¥268,310 per ton, up ¥4,240, a 1.61% increase. Antimony prices were ¥182,500 per ton, down ¥2,000, a 1.08% decrease [41]. Recommended Stocks - For the gold industry, recommended stocks include Zhongjin Gold, Shandong Gold, and Chifeng Gold. For copper, recommended stocks include Zijin Mining and Western Mining. For aluminum, recommended stocks include Shenhuo Co. and Yunnan Aluminum [11].

今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | PEEK材料 | 5.99 | 中船系 | -1.24 | | MicroLED概念 | 3.32 | 黄金概念 | -0.28 | | 天津自贸区 | 3.27 | 金属铅 | -0.27 | | AI PC | 3.11 | 金属锌 | -0.23 | | MiniLED | 3.11 | 可燃冰 | -0.10 | | 同花顺果指数 | 3.09 | 高股息精选 | 0.02 | | 共封装光学(CPO) | 2.91 | 同花顺中特估100 | 0.07 | | 兵装重组概念 | 2.90 | 大豆 | 0.11 | | PCB概念 | 2.85 | ST板块 | 0.17 | | 钙钛矿电池 | 2.78 | 玉米 | 0.17 | 资金面上看，今日金属铅概念板块获主力资金净流出10.27亿元，其中，23股获主力资金净流出，5股主 力资金净流出超5000万元，净流出资金居首的是紫金矿业，今日主力资金净流出3.64亿元，净流出资金 居前的还有赤峰黄金、湖 ...

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 全部或任何部份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。 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） 赤峰吉隆黃金礦業股份有限公司（「本公司」，連同其附屬公司為「本集團」）董事 （「董事」）會（「董事會」）茲通告謹定於2025年8月22日（星期五）舉行董事會會 議，藉以（其中包括）考慮及通過本集團截至2025年6月30日止6個月的未經審 核中期業績及其發佈，考慮宣布及派發中期股息（如有），以及處理任何其他事 項。 承董事會命 赤峰吉隆黃金礦業股份有限公司 董事長兼執行董事 王建華 中國北京 2025年8月11日 截至本公告日期，執行董事為王建華先生、楊宜方女士、呂曉兆先生及高波先 生；非執行董事為張旭東先生；以及獨立非執行董事為毛景文博士、沈政昌博 士、胡乃連先生及黃一平博士。 董事會會議日期 ...

黄金概念资金流出榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 601899 | 紫金矿业 | -1.41 | 0.68 | -36415.12 | | 600988 | 赤峰黄金 | -5.33 | 5.66 | -23514.53 | | 002155 | 湖南黄金 | -3.25 | 3.62 | -12618.30 | | 600489 | 中金黄金 | -2.73 | 1.95 | -10369.70 | | 300139 | 晓程科技 | -1.43 | 11.02 | -8200.11 | | 000426 | 兴业银锡 | -1.88 | 2.53 | -7328.95 | | 601069 | 西部黄金 | -4.45 | 3.41 | -6595.03 | | 002345 | 潮宏基 | -5.42 | 4.01 | -6555.28 | | 600711 | ST盛屯 | 0.00 | 1.48 | -5614.07 | | 000501 | 武商集团 | -3.08 ...

Group 1 - Company Chifeng Jilong Gold Mining (06693.HK) will hold a board meeting on August 22, 2025, to review and approve the unaudited interim results for the six months ending June 30, 2025, and to consider the declaration of an interim dividend, if any [1] - The stock of Chifeng Jilong Gold has experienced a decline of over 5% amid a broader downturn in gold stocks, with spot gold prices falling below $3,370 [2]

Group 1: Report Industry Investment Rating - No information provided Group 2: Core View of the Report - The copper market may continue to oscillate within a range and may show a short - term upward trend. Supply - side factors such as mine disturbances and improved smelting efficiency offset each other, but the decline in anode copper开工率 limits supply flexibility. On the demand side, the weakness in construction and exports offsets the growth in the new energy sector, and the terminal de - stocking power is insufficient. The increase in LME inventory strengthens the market's expectation of looser supply - demand, and the macro - sentiment is suppressed by the Fed's policy and geopolitical tariff issues [3] Group 3: Summary by Related Catalogs 1. Daily Market Summary a. Copper Futures Market Data Change Analysis - **Main Contract and Basis**: On August 8, the price of the SHFE copper main contract closed at 78,440 yuan/ton. The spot premium - discount structure strengthened overall. The discount of premium copper narrowed to 160 yuan/ton, and that of flat - water copper narrowed to 95 yuan/ton, indicating short - term tight supply in the spot market. The LME (0 - 3) discount slightly widened to - 65.63 dollars/ton, highlighting the divergence in spot premiums and discounts between the domestic and international markets [1] - **Position and Trading Volume**: On August 7, the LME copper position decreased by 2,005 lots to 263,245 lots, reflecting cautious market sentiment. The SHFE contract position remained stable, and the trading volume slightly shrank, indicating a decline in short - term capital participation [1] b. Industry Chain Supply - Demand and Inventory Change Analysis - **Supply Side**: There are many short - term disturbances at the mine end. Although Chifeng Gold discovered new copper resources in Laos, actual capacity release will take a long time. Chile's copper export value in July decreased by 0.4% year - on - year, and the supply - side growth rate may slow down. Baiyin Nonferrous completed the intelligent transformation of the copper concentrate warehouse, improving the ore unloading efficiency by 40%. However, the anode copper enterprise开工率 in August decreased by 3.96% month - on - month, and there is still pressure on refined copper supply in the short term [2] - **Demand Side**: Terminal demand is significantly differentiated. The new energy sector performs strongly, with the cumulative power generation of wind power increasing by 10.6% year - on - year and the output of new energy vehicles increasing by 26.4% year - on - year. However, the copper consumption in the construction/real estate sector decreased year - on - year, and the demand for copper in the photovoltaic sector declined after the rush - installation, dragging down copper consumption. The high tariff imposed by the US on Mexican copper tubes led to blocked exports, and the domestic copper terminal PMI further contracted (expected to drop to 47.49% in August), resulting in insufficient overall demand - side support [2] - **Inventory Side**: On August 8, the LME inventory increased by 1,127 tons to 21,272 tons compared with the previous day, showing a continuous three - day inventory accumulation trend and indicating obvious pressure on visible inventory. The SHFE inventory slightly decreased by 0.1% to 155,850 tons but remained at a high level this year, indicating weak domestic consumption momentum. The COMEX inventory also increased moderately, and the marginal increase in global inventory put pressure on copper prices [2] c. Market Summary - The copper market may continue the oscillating trend within a range and may show a short - term upward trend. The supply - side factors of mine disturbances and improved smelting efficiency offset each other, but the decline in anode copper开工率 limits supply flexibility. The weakness in construction and exports on the demand side offsets the growth in the new energy sector, and the terminal de - stocking power is insufficient. The increase in LME inventory strengthens the market's expectation of looser supply - demand, and the macro - sentiment is suppressed by the Fed's policy and geopolitical tariff issues [3] 2. Industry Chain Price Monitoring - On August 8, 2025, the SMM 1 copper price was 78,640 yuan/ton, a 0.05% increase from the previous day; the SHFE price was 78,440 yuan/ton, also a 0.05% increase. The LME price was 9,768 dollars/ton, a 1.01% increase. The LME inventory increased by 5.59% to 21,272 tons, the SHFE inventory decreased by 0.1% to 155,850 tons, and the COMEX inventory increased by 0.32% to 264,140 short tons [5] 3. Industry Dynamics and Interpretation - On August 7, Chifeng Gold announced a new discovery in its SND gold - copper mine project in Laos, with about 131.5 million tons of ore and a gold - equivalent metal volume of about 106.9 tons [6] - In July, Chile's copper export value was 3.99 billion dollars, a 0.4% decrease from the previous year [6] - Baiyin Nonferrous started the intelligent transformation project of the 19 line concentrate warehouse, which will increase the ore storage capacity from 30,000 tons to 47,000 tons and improve the unloading efficiency by 40% [7] - SMM expects that the overall anode copper enterprise开工率 in China in August will decrease by 3.96 percentage points to 57.15% [7] - The high tariff imposed by the US on Mexican copper tubes has led to blocked exports, and the US copper tube processing fee has significantly increased. The follow - up situation of whether the US will relax the tariff on Mexican copper materials needs to be concerned [7] 4. Industry Chain Data Charts - The report provides multiple data charts, including China PMI, US employment situation, dollar index and LME copper price correlation, TC processing fee, CFTC copper position, LME copper net long position analysis, Shanghai copper warehouse receipt volume, LME copper inventory change, COMEX copper inventory change, and SMM social inventory [8][12][13][15][18][20][24][26][29]