| 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 600988 | 赤峰黄金 | 7.44 | 8.70 | 30454.01 | | 600489 | 中金黄金 | 2.98 | 2.47 | 28352.73 | | 600547 | 山东黄金 | 6.78 | 2.25 | 16998.48 | | 603124 | 江南新材 | 10.00 | 21.39 | 16504.54 | | 000831 | 中国稀土 | 0.34 | 3.80 | 15543.96 | | 603993 | 洛阳钼业 | 3.12 | 1.08 | 14833.45 | | 300748 | 金力永磁 | 1.16 | 2.44 | 8169.59 | | 601600 | 中国铝业 | 0.68 | 0.74 | 7307.67 | | 600490 | 鹏欣资源 | 4.32 | 4.71 | 5960.65 | | 600259 | 广晟有色 | 1.95 | 3.14 | 5832.34 | | 000 ...

证券之星消息，8月4日工业金属板块较上一交易日上涨2.0%，精艺股份领涨。当日上证指数报收于3583.31，上涨0.66%。深证成指报收于 11041.56，上涨0.46%。工业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) | | --- | --- | --- | --- | --- | --- | | 002295 | 精艺股份 | 11.29 | 7.93% | 33.52万 | 3.68亿 | | 002824 | 和胜股份 | 17.44 | 4.81% | 18.08万 | 3.12亿 | | 600490 | 鹏欣资源 | 4.59 | 4.32% | 93.88万 | 4.26亿 | | 000603 | 盛达咨源 | 15.86 | 4.20% | - 15.28万 | 2.39亿 | | 600961 | 株治集团 | 11.69 | 4.10% | 29.74万 | 3.41亿 | | 600531 | 豫光舍铝 | 8.85 | 4.00% | 55.11万 | 4.77亿 | | 000426 | 兴 银锡 | 18.60 ...

8月4日午后，国证自由现金流指数小幅回调，成分股方面涨跌互现，捷佳伟创、凌云股份、欧派家居等 领涨%；南京新百、华人健康、红旗连锁等领跌。自由现金流ETF（159201）跟随指数调整，最新报价 1.05元。拉长时间看，截至2025年8月1日，自由现金流ETF近1月累计上涨2.45%，涨幅排名可比基金首 位。 方正证券认为，自由现金流是衡量企业真实盈利能力与分红潜力的前瞻性指标，高股息的长期维持必须 以高自由现金流为基础，长期具备高自由现金流的企业更能保障未来持续分红，实现对股东的稳定回 报。随着长线资金投资策略的不断迭代，自由现金流契合风险规避与收益稳定性需求，或将成为险资等 长线重要配置方向。 数据显示，截至2025年7月31日，国证自由现金流指数前十大权重股分别为上汽集团、中国海油、美的 集团、格力电器、洛阳钼业、中国铝业、厦门国贸、上海电气、正泰电器、中国动力，前十大权重股合 计占比57.66%。 自由现金流ETF（159201）紧密跟踪国证自由现金流指数，自由现金流策略弥补了传统红利策略在行业 覆盖广度和未来表现预判方面的不足，聚焦于内生增长能力，强调财务健康与可持续性，更契合追求长 期成长与资本增值 ...

流动性方面，稀土ETF嘉实盘中换手2.78%，成交1.15亿元。拉长时间看，截至8月1日，稀土ETF嘉实近1周日均成交3.57亿元，居可比基金第一。 规模方面，稀土ETF嘉实近1周规模增长1.38亿元，实现显著增长，新增规模位居可比基金第一。份额方面，稀土ETF嘉实近1周份额增长2.94亿份，实现显 著增长，新增份额位居可比基金第一。 资金流入方面，拉长时间看，稀土ETF嘉实近5个交易日内有4日资金净流入，合计"吸金"5.75亿元。 截至8月1日，稀土ETF嘉实近1年净值上涨62.04%，指数股票型基金排名153/2944，居于前5.20%。从收益能力看，截至2025年8月1日，稀土ETF嘉实自成立 以来，最高单月回报为41.25%，最长连涨月数为4个月，最长连涨涨幅为83.89%，上涨月份平均收益率为10.02%。 数据显示，截至2025年7月31日，中证稀土产业指数前十大权重股分别为北方稀土、包钢股份、中国稀土、盛和资源、卧龙电驱、中国铝业、领益智造、格 林美、厦门钨业、金风科技，前十大权重股合计占比59.32%。 截至2025年8月4日 11:07，中证稀土产业指数上涨0.01%，成分股湘电股份上涨3. ...

Group 1 - The core viewpoint is that the gold stocks have collectively strengthened due to rising risk aversion, driven by disappointing U.S. non-farm employment data, which has led to an increase in gold prices [1][2] - The non-farm employment report indicated an increase of 73,000 jobs in July, below the market expectation of 104,000, with the unemployment rate rising by 0.1 percentage points to 4.2% [1] - The gold price surged by $40 following the non-farm data release, closing at $3,363 per ounce, erasing previous losses [2] Group 2 - The long-term outlook suggests that the combination of "rate cut trades" and "Trump 2.0" will continue to catalyze gold prices through 2025, with central bank purchases providing strong support [3] - The World Gold Council reported that global gold demand is expected to reach 4,974 tons in 2024, a 1.5% increase from 4,899 tons in 2023, driven by strong central bank purchases and investment demand [3] - The top ten weighted stocks in the non-ferrous metal industry index account for 49.71% of the index, with major companies including Zijin Mining, Northern Rare Earth, and Shandong Gold [4]

Group 1 - The July Politburo meeting decided to hold the Fourth Plenary Session of the 20th Central Committee in October to discuss the "14th Five-Year Plan" proposals, emphasizing the need for "solid foundation and comprehensive efforts" for achieving socialist modernization [12][13] - The macro policy focus has shifted from "quantity" to "quality," with the removal of phrases like "timely reserve requirement ratio and interest rate cuts," indicating a more cautious approach to economic stimulus [12][13] - The "de-rolling" policy has been officially defined, with a focus on "key industries" and a shift away from real estate-related discussions, reflecting a new development model in the real estate sector [13] Group 2 - The manufacturing PMI for July was reported at 49.3%, a decrease of 0.4 percentage points, indicating a contraction in the manufacturing sector, with both supply and demand showing signs of decline [14] - Recent supply-demand policies have led to price increases in some commodities, which may boost PPI expectations; however, historical data suggests that price increases driven by strong reality tend to be more sustainable than those driven by strong expectations [14][15] Group 3 - The recent US-China trade talks have resulted in a temporary suspension of tariffs, but the long-term risks associated with reciprocal tariffs should not be underestimated, as the situation remains fluid and subject to change [17][20] - The trade talks have not yielded unexpected results, merely postponing risk points by 90 days, and the experience from the 2018 trade war indicates that the US stance can be unpredictable [20] Group 4 - The A-share market has seen a significant improvement in liquidity, with financing balances exceeding 2024 levels, indicating a potential for continued market performance [22] - The relationship between the stock and bond markets is characterized by a "see-saw" effect, where funds are shifting from the bond market to the stock market, driven by improved expectations for fundamentals [22][23] Group 5 - The overall profit expectations for A-shares in 2025 are likely to be weak, with a downward trend expected in the second and third quarters, followed by a potential recovery in the fourth quarter [25] - The profit growth in A-shares is primarily driven by year-on-year net profit margin increases, while revenue growth remains under pressure, indicating a challenging demand environment [25][27] Group 6 - The upcoming mid-year report disclosures in August are expected to enhance the importance of performance trading, with stocks showing high growth and strong opening characteristics likely to yield good returns [30] - Key industries to focus on in August include motorcycles and others, optical electronics, traditional Chinese medicine, lighting equipment, and agriculture [30][36] Group 7 - The recommended stocks for August include Lu'an Huanneng, which is positioned as a top choice for coking coal due to its resilient demand and potential for production capacity increases [37][38] - China Aluminum is highlighted for its strong position in the global aluminum industry, with expected profit increases driven by rising production volumes [37]

Investment Rating - The report maintains a "Buy" rating for several companies in the non-ferrous metals sector, including Zijin Mining, Luoyang Molybdenum, and China Nonferrous Mining [4][6][10]. Core Views - The report highlights a significant increase in the probability of interest rate cuts, which has led to rising prices for both industrial and precious metals. The macroeconomic environment is expected to support metal prices in the second half of the year [2][4]. - Industrial metals are anticipated to benefit from ongoing macroeconomic policy support in China, with a focus on the "14th Five-Year Plan" and continued investment in infrastructure [2][4]. - Precious metals, particularly gold, are expected to see a long-term upward trend due to central bank purchases and weakening US dollar credit [4][6]. Summary by Sections Industrial Metals - Copper prices have been affected by the US imposing a 50% tariff on semi-finished copper, leading to a significant drop in COMEX copper prices. However, domestic demand is showing signs of recovery with an increase in the operating rate of copper rod enterprises to 71.73% [2][4]. - Aluminum production capacity remains stable, but demand is weak due to seasonal factors, with social inventory increasing to 544,000 tons [2][4]. - Key companies recommended include Zijin Mining, Luoyang Molybdenum, and China Nonferrous Mining [2][4]. Energy Metals - Cobalt prices are expected to rise due to the impact of the Democratic Republic of Congo's mining ban, while lithium prices have seen a rapid decline amid cautious market sentiment [3][4]. - Nickel prices are projected to remain strong due to low inventory levels and increased purchasing activity from downstream sectors [3][4]. - Recommended companies include Huayou Cobalt and Zangge Mining [3][4]. Precious Metals - Gold prices are expected to rise due to strong central bank purchases and a favorable macroeconomic environment, with the report highlighting a long-term upward trend for gold prices [4][6]. - Silver prices are also expected to increase, driven by industrial demand and recovery in the market [4][6]. - Key companies recommended include Shandong Gold, Zhongjin Gold, and Zijin Mining [4][6].

Summary of Key Points Core Viewpoint - A significant block trade of China Aluminum occurred on August 1, with a transaction volume of 270,700 shares and a transaction value of 2,000,500 yuan, at a price of 7.39 yuan per share, indicating active trading interest in the stock [2][3]. Trading Activity - In the last three months, China Aluminum has recorded a total of four block trades, with a cumulative transaction value of 26,553,100 yuan [3]. - On the same day, the closing price of China Aluminum was 7.39 yuan, reflecting a decrease of 0.54%, with a daily turnover rate of 0.73% and a total trading volume of 713 million yuan [3]. - The net outflow of main funds for the day was 95,959,700 yuan, and over the past five days, the stock has seen a cumulative decline of 4.27% with a total net outflow of 412 million yuan [3]. Margin Trading Data - The latest margin financing balance for China Aluminum stands at 2,322 million yuan, with a decrease of 28,587,300 yuan over the past five days, representing a decline of 1.22% [3].

Core Viewpoint - The China Securities Index for cyclical steady growth has shown a mixed performance, with a recent decline in the index while maintaining a positive trend over the past month and three months [1][2]. Group 1: Index Performance - The Shanghai Composite Index decreased by 0.37%, while the China Securities Index for cyclical steady growth 50 fell by 0.84%, closing at 1652.84 points with a trading volume of 17.107 billion yuan [1]. - Over the past month, the cyclical steady growth 50 index has increased by 3.62%, and over the last three months, it has risen by 7.90%. However, year-to-date, it has declined by 1.53% [1]. Group 2: Index Composition - The cyclical steady growth 50 index comprises 50 companies selected based on low price-to-book ratios, high revenue growth, and high return on equity (ROE) [1]. - The top ten weighted companies in the index include China State Construction (9.6%), China Petroleum (9.45%), and COSCO Shipping Holdings (9.33%) among others [1]. - The index is primarily composed of companies listed on the Shanghai Stock Exchange, which accounts for 76.10% of the index, while the Shenzhen Stock Exchange represents 23.90% [1]. Group 3: Sector Allocation - The sector allocation of the cyclical steady growth 50 index shows that materials account for 40.39%, industrials for 29.59%, and energy for 28.80%, with real estate making up only 1.22% [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 1 - On August 1, China Aluminum conducted a bulk transaction of 270,700 shares, with a transaction amount of 2,000,500 yuan, accounting for 0.28% of the total transaction amount for the day [1] - The transaction price was 7.39 yuan, which was flat compared to the market closing price of 7.39 yuan [1] - The buying brokerage firms involved were Huatai Securities Co., Ltd. and CITIC Securities Co., Ltd. [2]