Core Viewpoint - On August 25, 2023, brokerage firms provided target prices for listed companies, with notable increases in target prices for companies in the agriculture, coal mining, and construction materials sectors, indicating potential investment opportunities in these industries [1][2]. Target Price Increases - The companies with the highest target price increases were: - Longping High-Tech (隆平高科) with a target price increase of 38.75% to 14.00 CNY [2] - Xinji Energy (新集能源) with a target price increase of 37.40% to 9.00 CNY [2] - Beixin Building Materials (北新建材) with a target price increase of 36.57% to 36.90 CNY [2] Brokerage Recommendations - A total of 163 listed companies received brokerage recommendations on August 25, with notable mentions: - Shede Liquor (舍得酒业) received 4 recommendations [4] - Shuiyang Co. (水羊股份) and Marubi Biotechnology (丸美生物) each received 3 recommendations [4] Rating Adjustments - One company had its rating upgraded: - Guodian Power (国电电力) was upgraded from "Hold" to "Buy" by Huayuan Securities [5] - Three companies had their ratings downgraded: - Minhe Livestock (民和股份) from "Buy" to "Hold" [6] - Chifeng Gold (赤峰黄金) from "Buy" to "Hold" [6] - Silan Microelectronics (士兰微) from "Buy" to "Hold" [6] First-Time Coverage - Seven companies received first-time coverage with positive ratings: - Ganhua Science and Technology (甘化科工) received a "Buy" rating from Dongwu Securities [7] - Wangneng Environment (旺能环境) received a "Buy" rating from Xinda Securities [7] - Yingliu Co. (应流股份) received an "Increase" rating from Shanxi Securities [7] - New Clean Energy (新洁能) received an "Increase" rating from Industrial Securities [7] - Weijian Medical (稳健医疗) received a "Buy" rating from Northeast Securities [7]

机构：中金公司 研究员：王政/齐丁/陈彦 1H25 业绩符合市场预期 矿产金产量阶段性下降，成本短期上升。从量看，公司1H25 矿产金6.8吨，同比-10.56%；2Q25 矿产金 3.42 吨，同/环比-13.88%/+2.29%。从价看，1H25 年金价722 元/克，同比+38.64%，2Q25 均价770 元/ 克，同/环比+39.43%/+14.78%。从成本看，1H25 销售成本319 元/克，同比+11.78%；全维持成本355 元/ 克，同比+34.28%。公司产量下降和成本阶段性增加主要归因于矿山扩产前期矿石准备工作以及部分矿 山入选品位下降所致；同时由于金价上涨计税基础上升导致全维持成本中税金显著增加，公司预计下半 年成本将逐步回归到正常水平。 稀土板块开始首次销售，稀土业务成长性值得期待。公司依托子公司赤金厦钨进行老挝稀土的开发， 1H25 实现营业收入5968 万元，净利润-1540万元；生产稀土产品448 吨，销售298 吨。 发展趋势 1H25 营业收入52.72 亿元，同比+25.64%；归母净利润11.07 亿元，同比+55.79%；扣非净利润11.12 亿 元，同比+73.9 ...

中新社香港8月25日电(记者戴小橦)港股三大指数25日集体走强，恒生指数盘中涨超2%，一度触及 25918.86点，创近4年以来新高。 富途证券首席分析师谭智乐表示，随着港股造好，股票市场的气氛转好有利实体经济，创新行业的融资 渠道出现改善。人工智能、无人驾驶或创新药等企业可以用IPO(首次公开募股)或不同的融资渠道筹集 资金，企业更积极地发展新项目，有利就业市场的表现。 申万宏源证券认为，随着各企业中期业绩陆续披露，此前业绩预期较低、且负面预期已基本消化、成交 清淡的板块有望重新获得市场关注。(完) （文章来源：中国新闻网） 截至当日收盘，恒生指数涨1.94%，报25829.91点；恒生科技指数涨3.14%，报5825.09点；国企指数涨 1.85%，报9248点。 从板块表现看，科网股多数飘红，成为推动指数上行的重要力量。其中，网易涨6.04%，阿里巴巴涨 5.51%，快手涨5.14%，京东集团涨4.28%，美团涨3.29%，商汤涨2.72%，腾讯控股涨2.42%，小米集团 涨1.81%。 黄金股齐涨，珠峰黄金涨11.31%，紫金矿业涨6.38%，灵宝黄金涨5.21%，中国黄金国际涨4.95%，潼关 黄金 ...

在港股市场，珠峰黄金（01815.HK）大涨11.31%，紫金矿业（02899.HK）涨6.38%，灵宝黄金（03330.HK）涨5.21%，中国黄金国际（02099.HK）涨 4.95%，潼关黄金（00340.HK）涨4.32%，山东黄金（01787.HK）涨3.75%，赤峰黄金（06693.HK）、招金矿业（01818.HK）等多只概念股均涨。 | 代码 | 序号 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | --- | | 01815 | 1 | 珠峰黄金 | 0) | 1.870 | +0.190 | 11.31 | | 02899 | 2 | 常毛矿业 | | 24.340 | +1.460 | 6.38 | | 03330 | 3 | 灵宝黄金 | | 11.520 | +0.570 | 5.21 | | 02099 | ব | 中国黄金国际 | | 89.050 - | - +4.200 | 4.95 | | 00812 | ട | 中国白银集团 | | 0.440 | +0.020 | 4.76 | | 003 ...

Market Overview - The Shanghai Composite Index closed at 3855.41 points, above the six-month moving average, with an increase of 0.78% [1] - The total trading volume of A-shares reached 26,577.24 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 64 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - ST Yilianzhong (18.16%) - Kun工科技 (6.71%) - Huazhi Wine (5.98%) [1] Stock Performance Details - The following stocks showed notable performance: - ST Yilianzhong: Increased by 19.90% with a turnover rate of 6.52% [1] - Kun工科技: Increased by 10.57% with a turnover rate of 10.49% [1] - Huazhi Wine: Increased by 7.16% with a turnover rate of 5.21% [1] - Other stocks with smaller deviation rates include: - Huaxia Happiness - Lihigh Food - Huaihe Energy, which just crossed the six-month line [1]

Market Overview - The Shanghai Composite Index closed at 3883.56 points, above the six-month moving average, with an increase of 1.51% [1] - The total trading volume of A-shares reached 31,769.48 million yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 83 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - ST Yilianzhong (18.16%) - Kunlun Technology (7.79%) - Huazhi Wine (7.67%) [1] Detailed Stock Performance - The following table summarizes the performance of selected stocks that broke the six-month moving average: | Stock Code | Stock Name | Daily Change (%) | Turnover Rate (%) | Six-Month Average (yuan) | Latest Price (yuan) | Deviation Rate (%) | | --- | --- | --- | --- | --- | --- | --- | | 300096 | ST Yilianzhong | 19.90 | 6.74 | 4.08 | 4.82 | 18.16 | | 831152 | Kunlun Technology | 11.70 | 11.86 | 20.98 | 22.62 | 7.79 | | 300755 | Huazhi Wine | 8.88 | 5.96 | 18.21 | 19.61 | 7.67 | | 600539 | Shitou Co. | 10.02 | 11.47 | 11.30 | 11.97 | 5.94 | | 603198 | Yingjia Wine | 7.22 | 2.79 | 44.61 | 47.08 | 5.54 | | 000002 | Vanke A | 9.15 | 8.16 | 6.81 | 7.16 | 5.20 | | 688646 | ST Yifei | 5.53 | 4.39 | 31.37 | 32.82 | 4.63 | | 003041 | True Love Home | 4.93 | 6.05 | 28.37 | 29.59 | 4.29 | | 839371 | Oufu Industry | 4.59 | 4.82 | 11.15 | 11.62 | 4.20 | | 601933 | Yonghui Supermarket | 5.04 | 5.91 | 5.03 | 5.21 | 3.66 | | 600325 | Huafa Co. | 4.19 | 4.88 | 5.05 | 5.22 | 3.37 | | 601238 | GAC Group | 3.04 | 1.05 | 7.89 | 8.13 | 3.00 | | 600657 | Xinda Real Estate | 3.16 | 2.50 | 4.13 | 4.25 | 2.91 | | 603108 | Runda Medical | 3.00 | 7.99 | 18.43 | 18.90 | 2.54 | | 600988 | Chifeng Gold | 4.03 | 5.40 | 24.67 | 25.30 | 2.54 | | 000069 | Overseas Chinese Town A | 3.86 | 3.88 | 2.36 | 2.42 | 2.44 | | 600872 | Zhongju Gaoxin | 3.29 | 4.97 | 19.37 | 19.78 | 2.14 | | 003000 | Jin Zai Food | 2.46 | 7.48 | 13.07 | 13.35 | 2.13 [1]

从资金流向上来看，当日贵金属板块主力资金净流入4.58亿元，游资资金净流出5.31亿元，散户资金净流 入7315.74万元。贵金属板块个股资金流向见下表： 证券之星消息，8月25日贵金属板块较上一交易日上涨4.09%，湖南白银领涨。当日上证指数报收于 3883.56，上涨1.51%。深证成指报收于12441.07，上涨2.26%。贵金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002716 | 湖南白银 | 5.39 | 10.00% | 211.00万 | | 11.14亿 | | 002155 | 湖南黄金 | 21.15 | 5.17% | 104.75万 | | 21.82亿 | | 600489 | 中金黄金 | 15.15 | 4.48% | 169.85万 | | 25.45 Z | | 600988 | 赤峰黄金 | 25.30 | 4.03% | 1 89.89万 | | 22.50亿 | | 600547 | 山东黄金 | 31.9 ...

民生证券研报指出，赤峰黄金2025年上半年实现归母净利润11.07亿元，同比增长55.79%，单季度看， 25Q2归母净利润6.23亿元，同比增长22.25%，环比增长28.97%。业绩略低于预期，产量不及预期以及 成本上行是影响业绩的核心原因。重点项目推进，驱动产能提升。五龙矿业完成选厂改造，处理能力提 升至3000吨/天；吉隆矿业27号箕斗井提升改造完成，其余项目已按计划陆续启动；华泰矿业一采区 （三采分区）复工项目完成可研报告，采矿权延续工作按计划推进，五采区扩建项目基建工程有序开 展；锦泰矿业一期工程顺利推进，预计年底完成回采，二期工程已完成项目勘查和探转采工作；瀚丰矿 业东风钼矿现有选厂改扩建项目已启动设计；金星瓦萨加速推进地采主采区新区开拓，同时在矿区中段 Benso区新增4个露天采坑，充填系统恢复顺利，预计Q3可满负荷运行。另外从矿床类别看，公司老挝 原在产矿体为卡林型金矿，此次新发现矿体为斑岩型金铜矿，体量较大且选矿流程相对容易，回收率更 高，未来计划对该矿体实行进一步勘探工作。维持"推荐"评级。 ...

Market Overview - The Shanghai Composite Index rose by 3.49% and the CSI 300 Index increased by 4.18% during the week of August 18-22 [2][3] - The SW Nonferrous Metals Index saw a gain of 1.33%, while COMEX gold and silver prices increased by 1.05% and 2.26%, respectively [2][3] Industrial Metals - Industrial metal prices showed mixed movements: LME aluminum +0.73%, copper +0.50%, zinc +0.32%, lead +0.56%, nickel -1.45%, and tin +0.70% [2][3] - The SMM imported copper concentrate index reported a decrease of $3.47/ton to $-41.15/ton, while the copper rod enterprises' operating rate rose to 71.80%, up by 1.20 percentage points [3] - Domestic electrolytic aluminum social inventory decreased by 11,000 tons, totaling 596,000 tons, indicating a slight increase in production and improved demand expectations [3] - Recommended companies in the industrial metals sector include Zijin Mining, Luoyang Molybdenum, Minmetals Resources, China Nonferrous Mining, and others [3] Energy Metals - Cobalt raw material imports continue to decline, suggesting a potential price surge for cobalt, while lithium supply disruptions remain a concern [4] - Carbonate lithium prices have rebounded due to increased market activity, with expectations for a strong short-term performance [4] - Cobalt prices are expected to strengthen as domestic inventory continues to deplete, with stable price increases for cobalt sulfate [4] - Recommended companies in the energy metals sector include Cangge Mining, Huayou Cobalt, and others [4] Precious Metals - The expectation of interest rate cuts by the Federal Reserve has positively influenced gold prices, with the People's Bank of China continuing to increase gold reserves for nine consecutive months [5] - Silver prices are also rising due to its industrial properties and recovery dynamics [5] - Recommended companies in the precious metals sector include Shandong Gold, Tongguan Gold, and others, with a focus on potential opportunities if gold prices stabilize above $3,500/oz [5]

2025年8月23日，赤峰黄金(600988.SH)发布2025年中报。 公司营业总收入为52.72亿元，较去年同报告期营业总收入增加10.76亿元，实现4年连续上涨，同比较去年同期上涨25.64%。归母净利润为11.07亿元，较去 年同报告期归母净利润增加3.96亿元，实现2年连续上涨，同比较去年同期上涨55.79%。经营活动现金净流入为16.13亿元，较去年同报告期经营活动现金净 流入增加1.78亿元，实现3年连续上涨，同比较去年同期上涨12.39%。 公司最新资产负债率为37.19%，较上季度资产负债率减少1.43个百分点，较去年同期资产负债率减少14.49个百分点。 公司摊薄每股收益为0.63元，较去年同报告期摊薄每股收益增加0.20元，实现2年连续上涨，同比较去年同期上涨46.51%。 公司最新毛利率为48.10%，较上季度毛利率增加1.68个百分点，实现7个季度连续上涨，较去年同期毛利率增加8.60个百分点，实现2年连续上涨。最新ROE 为9.54%。 公司最新总资产周转率为0.24次，较去年同期总资产周转率增加0.02次，实现2年连续上涨，同比较去年同期上涨10.58%。最新存货周转率为1.03 ...