Macro News - The Central Committee of the Communist Party of China emphasizes strict punishment for financial crimes such as market manipulation, insider trading, illegal fundraising, loan fraud, and money laundering to promote healthy financial market development [1][5] - The People's Bank of China (PBOC) will conduct a 14 trillion yuan reverse repurchase operation on July 15, 2025, to maintain ample liquidity in the banking system, with 8 trillion yuan for 3-month operations and 6 trillion yuan for 6-month operations [3][6] - In the first half of 2025, the total social financing increased by 22.83 trillion yuan, with new loans amounting to 12.92 trillion yuan, and M2 growth of 8.3% year-on-year [4][6] Company News - China Eastern Airlines expects a net loss of 12 billion to 16 billion yuan for the first half of 2025 [12] - Greenland Holdings anticipates a net loss of 30 billion to 35 billion yuan for the first half of 2025 [13] - Longi Green Energy expects a net loss of 24 billion to 28 billion yuan for the first half of 2025, although it represents a reduction in losses compared to the previous year [13] - Perfect World anticipates a net profit of 4.8 billion to 5.2 billion yuan for the first half of 2025, marking a turnaround from losses [17] - Wen Tai Technology expects a net profit increase of 178% to 317% year-on-year for the first half of 2025 [18] - China Rare Earth anticipates a net profit of 136 million to 176 million yuan for the first half of 2025, indicating a return to profitability [21] Investment Opportunities - The Robotaxi industry is expected to experience rapid growth due to technological advancements and supportive policies, with 2025 projected as a year of mass production [29] - The solid-state battery market is anticipated to see significant growth, with expectations for small-scale production by 2027 and larger-scale shipments by 2030, driven by increasing demand for high-performance batteries [30] - The humanoid robot market is projected to grow significantly, with a record order of 124 million yuan for humanoid robot manufacturing services, indicating strong market potential [31] - The successful production of the first barrel of uranium from China's largest natural uranium production project is expected to enhance the country's energy resource security and influence in uranium resource development [32]

数据是个宝 数据宝 投资少烦恼 现货白银续创近13年新高。 | 伦敦银现 | | | | | | --- | --- | --- | --- | --- | | AGUSDO 贵 | | | | | | 39.091 | 昌 | 39.116 | 昨日收 | 38.508 | | 0.583 1.51% | 低 | 38.401 | 买价 | 39.091 | | | | 38.524 | 卖价 | 39.117 | | 相关ETF 2 | | | 国投白银LOF 1.064 2.01% > | | | से में ब्र EK 月K | 周K | 品目 | 原多v | | | 均线▼ 日线 M5:37.510 M10:37.053 M20:36.685 M30:36.440 | | | | 前复权 | | -39.446 -- | | | | 39.116 | | 37.414 | | | | | | 35.382 | | | | | | 33.349 | | | | | | 31.647 | | | | | | 2025/05/05 | | | | 2025/07/14 | 7月14日，伦敦银现货盘中站 ...

截至7月14日收盘，金属铅概念上涨1.68%，位居概念板块涨幅第5，板块内，25股上涨，卧龙新能、湖 南白银等涨停，白银有色、盛达资源、豫光金铅等涨幅居前，分别上涨6.99%、6.73%、3.86%。跌幅居 前的有华钰矿业、湖南黄金、智慧农业等，分别下跌3.33%、1.84%、1.25%。 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 | 3.87 | 短剧游戏 | -1.89 | | 减速器 | 2.25 | 信托概念 | -1.87 | | 超超临界发电 | 1.82 | 期货概念 | -1.83 | | 人形机器人 | 1.70 | 快手概念 | -1.60 | | 金属铅 | 1.68 | NFT概念 | -1.36 | | 有机硅概念 | 1.64 | Sora概念(文生视频) | -1.36 | | 工业母机 | 1.61 | Web3.0 | -1.31 | | 空气能热泵 | 1.55 | 互联网保险 | -1.24 | | 汽车热管理 | 1.50 | 中船系 | -1.22 ...

Investment Rating - The report maintains an "Outperform" rating for the non-ferrous metals industry [2] Core Views - Precious metals are expected to continue their upward trend, with gold prices rising by 0.53% and silver prices by 4.07% in the week of July 7-11, 2025. The gold-silver ratio has reached a maximum of over 100 this year, indicating potential for further increases in silver prices as gold prices stabilize [4] - Industrial metal prices are on the rise, with fluctuations in copper, aluminum, lead, zinc, tin, and nickel prices noted. The report highlights a significant discrepancy between Indonesia's nickel production quotas and actual output due to seasonal weather impacts [4] - Rare earth prices, particularly praseodymium-neodymium oxides, have increased, driven by a recovery in manufacturing demand. Tungsten prices are also rising, indicating a steady growth in demand for tungsten in production tools [4] - Energy metals show mixed trends, with lithium prices increasing while cobalt and nickel prices are declining. The report emphasizes the need to monitor future demand growth for energy metals [4] - The report recommends investing in the non-ferrous metals sector, particularly in precious metals, as the Federal Reserve enters a rate-cutting cycle, and domestic monetary policies are expected to support growth [4] Summary by Sections 1. Industry Data Review 1.1 Precious Metals - Gold prices have shown a consistent upward trend, with the gold-silver ratio indicating potential for silver price increases [4][5] 1.2 Industrial Metals - The report provides a detailed overview of price changes for various industrial metals, noting specific percentage changes for copper, aluminum, lead, zinc, tin, and nickel [27] 1.3 Minor Metals - Prices for rare earth metals and tungsten have increased, reflecting a recovery in manufacturing and steady demand growth [28][31] 1.4 Energy Metals - Lithium prices are rising, while cobalt and nickel prices are declining, highlighting the need for ongoing monitoring of energy metal demand [34] 2. Market Data - The report notes that the non-ferrous metals sector has seen a 1.02% increase, with specific sectors like metal new materials and precious metals showing significant gains [35] 3. Important Events Review - The report highlights significant developments in the industry, including the successful launch of a new aluminum electrolysis production line and the planned expansion of an electrolytic aluminum project [41][42]

[Chifeng Gold 2025 Semi-Annual Performance Forecast Announcement](index=1&type=section&id=Chifeng%20Jilong%20Gold%20Mining%20Co.%2C%20Ltd.%202025%20Semi-Annual%20Performance%20Forecast%20Announcement) [Summary of Performance Forecast](index=1&type=section&id=Key%20Information%20Highlights) Chifeng Gold forecasts a significant increase in H1 2025 net profit, with attributable net profit growing 52.01%-59.04% and non-recurring net profit growing 69.77%-77.60% H1 2025 Performance Forecast | Metric | H1 2025 Forecast (RMB) | YoY Growth (%) | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | 1.08 billion - 1.13 billion | 52.01 - 59.04 | | **Net Profit After Non-Recurring Items** | 1.085 billion - 1.135 billion | 69.77 - 77.60 | - This performance forecast applies to situations where the company achieves profitability and net profit increases by more than **50%** compared to the same period last year[2](index=2&type=chunk) [Details of Current Period Performance Forecast](index=1&type=section&id=I.%20Current%20Period%20Performance%20Forecast) For H1 2025, the company anticipates attributable net profit to increase by RMB 370-420 million and non-recurring net profit by RMB 446-496 million H1 2025 Performance Forecast Details | Item | H1 2025 Forecast (RMB) | Increase from Prior Year (RMB) | | :--- | :--- | :--- | | **Net Profit Attributable to Shareholders** | 1.08 billion - 1.13 billion | 369.50 million - 419.50 million | | **Net Profit After Non-Recurring Items** | 1.085 billion - 1.135 billion | 445.91 million - 495.91 million | [Prior Period Performance Review](index=2&type=section&id=II.%20Operating%20Performance%20and%20Financial%20Status%20in%20Prior%20Period) H1 2024 results serve as a baseline, with attributable net profit at RMB 710 million, non-recurring net profit at RMB 639 million, and basic EPS at RMB 0.43 H1 2024 Performance | Metric (H1 2024) | Amount (RMB) | | :--- | :--- | | **Net Profit Attributable to Shareholders** | 710.50 million | | **Net Profit After Non-Recurring Items** | 639.09 million | | **Basic Earnings Per Share** | 0.43 | [Analysis of Performance Change](index=2&type=section&id=III.%20Main%20Reasons%20for%20Current%20Period%20Performance%20Change) Performance growth is primarily driven by a significant increase in gold sales prices by approximately 41.76% and effective cost control measures - The primary driver for performance growth is the year-on-year increase in gold sales prices by approximately **41.76%**[8](index=8&type=chunk) - Effective control of costs and expenses during the reporting period is another key factor contributing to profit growth[8](index=8&type=chunk) [Risk Warning and Statement](index=2&type=section&id=IV.%20Risk%20Warning) The company confirms no major uncertainties affect the forecast's accuracy, while reminding investors that disclosed data is preliminary - The company states there are no major uncertainties affecting the accuracy of this performance forecast[9](index=9&type=chunk) - Investors are advised that the current forecast data is preliminary, and final data will be based on the official semi-annual report, requiring attention to investment risks[9](index=9&type=chunk)

智通财经7月14日电，赤峰黄金(600988.SH)发布2025年半年度业绩预告，预计归属于上市公司股东的净 利润为108,000万元到113,000万元，同比增长52.01%到59.04%。报告期黄金销售价格同比上升约 41.76%，且成本费用得到有效控制。 赤峰黄金：上半年净利同比预增52.01%-59.04% ...

Core Viewpoint - The China Securities Index for the subdivided non-ferrous metal industry has shown significant growth, with a 3.10% increase over the past month and a 13.89% increase year-to-date, indicating a strong performance in this sector [1][2]. Group 1: Index Performance - The China Securities Index for subdivided non-ferrous metals rose by 1.28% to 6711.19 points, with a trading volume of 39.135 billion yuan [1]. - The index has increased by 13.83% over the past three months [1]. - The index is composed of seven sub-indices, reflecting the overall performance of larger, more liquid listed companies in related industries [1]. Group 2: Index Composition - The top ten holdings in the index include Zijin Mining (15.24%), Northern Rare Earth (5.39%), and Luoyang Molybdenum (4.48%) [1]. - The index's holdings are primarily concentrated in the Shanghai Stock Exchange (64.67%) and the Shenzhen Stock Exchange (35.33%) [1]. Group 3: Industry Breakdown - The index's sample holdings are predominantly in the raw materials sector (99.39%), with a small representation in the industrial sector (0.61%) [2]. - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2]. Group 4: Related Funds - Public funds tracking the subdivided non-ferrous metal index include several products from Huaxia and Huitianfu, indicating investor interest in this sector [2].

证券代码：600988 证券简称：赤峰黄金 公告编号：2025-043 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法律责任。 为进一步加强与投资者的互动交流，赤峰吉隆黄金矿业股份有限公司（以下 简称"公司"）将参加由内蒙古证监局、内蒙古上市公司协会与深圳市全景网络 有限公司联合举办的"2025 年内蒙古辖区上市公司投资者网上集体接待日活动"， 现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP 参与 本次互动交流，活动时间为 2025 年 7 月 11 日（星期五）16:00-18:00。届时公司 高管将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、融资计划、 股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广 大投资者踊跃参与! 特此公告。 赤峰吉隆黄金矿业股份有限公司董事会 2025 年 7 月 9 日 赤峰吉隆黄金矿业股份有限公司 关于参加 2025 年内蒙古辖区上 ...

Investment Rating - The report maintains an "Outperform" rating for the non-ferrous metals sector [2]. Core Viewpoints - Precious metals are expected to perform well in the long term, with gold prices rising by 1.94% recently. The ongoing tariff issues and the weakening global position of the US dollar are anticipated to support gold prices [5]. - Industrial metal prices are on the rise, with significant increases in copper, aluminum, lead, zinc, tin, and nickel prices observed recently [5]. - The report highlights a positive outlook for the non-ferrous metals sector, driven by the Fed's easing cycle and domestic monetary policies, recommending investments in companies like Shandong Gold, Chifeng Jilong Gold Mining, and Zijin Mining [5]. Summary by Sections 1. Industry Data Review 1.1 Precious Metals - The report notes a recent increase in domestic gold prices and discusses the impact of tariff fluctuations on the market [5]. 1.2 Industrial Metals - Prices for copper, aluminum, lead, zinc, tin, and nickel have shown positive weekly changes, with copper reaching a peak of 10015 USD/ton on the London Metal Exchange [5][28]. 1.3 Minor Metals - Prices for rare earth metals, particularly praseodymium and neodymium oxides, have increased, reflecting a growing demand in manufacturing [5][30]. 1.4 Energy Metals - Lithium hydroxide prices have decreased, while nickel prices have shown an upward trend, indicating a mixed outlook for energy metals [5][34]. 2. Market Data - The report indicates that the non-ferrous metals sector has seen a 1.03% increase, with various sub-sectors performing differently [36]. 3. Important Events Review - The report discusses recent announcements by US President Trump regarding new tariffs, which are expected to impact the market starting August 1 [42].

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].