Core Viewpoint - The recent decline in gold prices and the continuous drop in A-shares have led to a significant decrease in gold and precious metal-related ETFs, although there has been a net inflow of funds into gold stock ETFs despite the downturn [1] Group 1: ETF Performance - As of 14:10 on November 4, the performance of various ETFs was as follows: Gold ETF Huaxia (518850) fell by 0.89%, Non-ferrous Metals ETF (516650) dropped by 3.65%, and Gold Stock ETF (159562) decreased by 3.88% [1] - The holdings of the Gold Stock ETF, including companies like WanGuo Gold Group, saw declines exceeding 6%, while Zijin Mining, Chifeng Jilong Gold Mining, and Jiangxi Copper also experienced significant losses [1] Group 2: Fund Inflows - Despite the three-day decline in the Gold Stock ETF (159562), it recorded a net inflow of funds totaling 57.12 million yuan over the same period [1] Group 3: Market Outlook - Major Wall Street banks remain optimistic about the future of gold prices, with UBS stating that the current price drop is temporary and maintaining a year-end target of $4,200 per ounce [1] - UBS also indicated that if geopolitical or market risks escalate, gold prices could potentially rise to $4,700 per ounce within the year [1] - GF Securities noted that the decline in real interest rates continues to provide marginal support for gold prices, with expectations of a new round of interest rate cuts by the Federal Reserve and a halt to balance sheet reduction in December [1] - The continuation of monetary easing and rising inflation are expected to support gold prices, with ETF investments and central bank purchases being key drivers for sustained upward movement [1]

Core Viewpoint - The article highlights the strong performance of Chifeng Jilong Gold Mining Co., Ltd. due to rising gold prices driven by concerns over the US dollar's status, with significant increases in revenue and profit reported for the third quarter of the year [2][4]. Financial Performance - In the third quarter, the company reported a net profit of 950 million yuan, a year-on-year increase of 141% [2]. - Total revenue for the third quarter reached 3.37 billion yuan, up 66.4% year-on-year, while the first three quarters saw revenue of 8.644 billion yuan, a 38.9% increase, and net profit surged 86% to 2.05 billion yuan [2][3]. Gold Sales - The primary revenue source for the company is gold, with gold sales volume for the first nine months reaching 10,700 kilograms, a slight decline of 2.56% year-on-year. However, the average selling price increased by 44.1% to 729.58 yuan per gram, resulting in total sales revenue of 7.78 billion yuan, accounting for 90% of total revenue [3][4]. Copper and Rare Earth Business - The second-largest revenue source comes from copper products, contributing 4.4% of total revenue with 383 million yuan. The demand for copper is expected to rise due to the need for upgrading aging power grids in Europe and the US [3][4]. - The company has also begun to develop its rare earth business, which, although currently contributing only 0.9% of total revenue, has a high selling price of 172,300 yuan per ton. This sector is gaining importance due to its applications in electric vehicles and robotics [4][6]. Market Position and Valuation - Chifeng Jilong Gold Mining is positioned as a leading gold mining company in mainland China, with a projected earnings growth of 86% and 17% for the next two years, reaching 3.28 billion and 3.83 billion yuan, respectively [6][7]. - The company's current market P/E ratio is 16.7, which is significantly lower than its peers, indicating an attractive valuation and potential for stock price appreciation [7].

Group 1 - Lingbao Gold experienced a decline of over 5% [1] - Jihai Resources, Tongguan Gold, and Zijin Mining fell by more than 4% [1] - Zhaojin Mining, Shandong Gold, Chifeng Jilong Gold, China Silver Group, and China Gold International dropped by over 3% [1]

Group 1 - Gold concept stocks have continued to weaken, with Hunan Gold, Zhongjin Gold, and Shandong Gold International dropping over 5% [1] - Hunan Silver, Shandong Gold, and Chifeng Gold have also seen declines of over 3% [1]

Market Overview - The A-share market opened lower with the Shanghai Composite Index down 0.08%, the Shenzhen Component down 0.23%, and the ChiNext Index down 0.20% [1][2] - The Hong Kong market also opened lower, with the Hang Seng Index down 0.04% and the Hang Seng Tech Index down 0.19% [3][4] Sector Performance - The oil and gas, AI applications, and non-ferrous metals sectors experienced significant declines, while semiconductor and computing hardware stocks showed strength [1] - The precious metals sector led the decline, with companies like Xiaocheng Technology and Zhongjin Gold opening nearly 2% lower, and others like Chifeng Gold and Western Gold also showing notable losses [1][2] - In contrast, the Hainan Free Trade Zone sector continued its upward trend, along with slight gains in the gas and real estate sectors [2] Monetary Policy - The central bank conducted a 7-day reverse repurchase operation of 117.5 billion yuan at an interest rate of 1.40%, with 475.3 billion yuan of reverse repos maturing today [4]

近日，赤峰吉隆黄金矿业股份有限公司发布公告称，将于2025年11月7日（星期五）下午16:00-17:00通过东方财富路演平台 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 《赤峰黄金H股市场公告》 《赤峰黄金关于召开2025年第三季度业绩说明会的公告》 （http://roadshow.eastmoney.com/luyan/4963585）召开2025年第三季度业绩说明会，以网络文字互动方式与投资者交流公司经营成果、财务指标等 情况。投资者可于2025年11月4日至11月7日17:00前通过上述平台、扫描二维码或发送邮件至IR@cfgold.com提前提问。公司独立董事和管理层将 出席说明会。会议结束后，投资者可通过该链接查看说明会召开情况及主要内容。联系电话：010-53232310；邮箱：IR@cfgold.com。公告编号： 2025-055。 最新公告列表 截至2025年11月3日收盘，赤峰黄金（600988）报收于29.92元，较前一交易日上涨0.44%，最新总市值为568.6亿元。该股当日开盘29.18元，最高 29 ...

Core Viewpoint - Chifeng Jilong Gold Mining Co., Ltd. plans to hold a performance briefing on November 7, 2025, to discuss its Q3 2025 operational results and financial status, inviting investors to participate actively [1] Group 1 - The company aims to provide a comprehensive understanding of its Q3 2025 performance [1] - The briefing will take place on the Dongfang Caifu roadshow platform from 4:00 PM to 5:00 PM [1] - The event is designed to address investor concerns and facilitate communication [1]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative increase in stock price of over 20% compared to the benchmark index within the next six months [15]. Core Insights - The company achieved a record high net profit attributable to shareholders of 9.51 billion yuan in Q3 2025, with a year-on-year increase of 140.98% [4]. - Revenue for the first three quarters of 2025 reached 86.44 billion yuan, reflecting a year-on-year growth of 38.91% [4]. - The company’s gold production for Q1-Q3 2025 was 10.71 tons, with a slight year-on-year decrease of 0.41%, but Q3 production saw a quarter-on-quarter increase of 15.68% [5]. - The report highlights ongoing project developments, including the discovery of a large-scale gold-copper deposit at Wanxiang Mining, which is expected to significantly contribute to profit growth [7]. Financial Performance - The company’s revenue is projected to grow from 90.26 billion yuan in 2024 to 183.45 billion yuan in 2027, with a compound annual growth rate of 24.99% to 5.88% [11]. - Net profit attributable to shareholders is expected to rise from 1.76 billion yuan in 2024 to 5.96 billion yuan in 2027, with growth rates of 119.46% to 7.75% [11]. - The company’s price-to-earnings (P/E) ratio is forecasted to decrease from 32.09 in 2024 to 9.49 in 2027, indicating improving valuation metrics [11]. Cost and Production Insights - The average gold sales cost for Q1-Q3 2025 was approximately 327 yuan per gram, a year-on-year increase of 16% [6]. - The report notes that the cost of production at the Vasa mine has increased significantly due to various factors, including tax rate hikes and operational cost increases [6]. Future Outlook - The report anticipates stable growth in gold production and sales, with projected net profits of 34.28 billion yuan, 55.34 billion yuan, and 59.64 billion yuan for 2025, 2026, and 2027 respectively [9]. - The company is expected to benefit from ongoing mining project developments and improved operational efficiencies, contributing to overall profitability [7].

证券代码：600988 证券简称：赤峰黄金 公告编号：2025-055 重要内容提示： 投资者可于2025年11月4日（星期二）至11月7日（星期五）下午17:00前 登录东方财富路演平台（http://roadshow.eastmoney.com/luyan/4963585）或扫描 本公告中下方二维码，或通过邮箱IR@cfgold.com向公司提问。 一、说明会类型 赤峰吉隆黄金矿业股份有限公司（以下简称"公司"）已于 2025 年 10 月 25 日披露公司《2025 年第三季度报告》。公司将针对 2025 年第三季度的经营成 果、财务指标等与投资者进行互动交流和沟通，在信息披露允许的范围内就投 资者普遍关注的问题进行回答。欢迎广大投资者积极参与。 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 11 月 7 日（星期五）下午 16:00-17:00 （二）会议召开地点：东方财富路演平台 1 赤峰吉隆黄金矿业股份有限公司 关于召开2025年第三季度业绩说明会的公告 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法律责任 ...

呈交日期: 2025年11月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 600988 | 說明 | | 於上海證券交易所上市之A股 | | | | | | | | 法定/註冊股份數目 | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,663,911,378 | RMB | | 1 RMB | | 1,663,911,378 | | 增加 / 減少 (-) | | | | | | RMB | | | | 本月底結存 | | | 1,663,911,378 | RMB | | 1 RMB | | 1,663,911,378 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 赤峰吉隆黃金礦業股份有限公司 | 2. 股份分類 ...