Group 1 - The core viewpoint of the news is that Zijin Mining has experienced significant stock price growth and is projecting substantial profit increases for 2025, driven by production and price increases of key mineral products [1][2] Group 2 - On January 6, 2026, Zijin Mining's stock price reached a historical high of 37.7 yuan per share, with a market capitalization nearing 1 trillion yuan, closing at 37.6 yuan per share, reflecting a 6.21% increase [1] - The company expects a net profit attributable to shareholders of 510 billion to 520 billion yuan for 2025, representing a year-on-year increase of 189 billion to 199 billion yuan, or a growth of 59% to 62% [1] - The growth in profit is attributed to increased production and rising prices of key mineral products, with gold production expected to be approximately 90 tons, copper production around 1.09 million tons, silver production about 437 tons, and lithium carbonate equivalent at 2.5 million tons for 2025 [1] Group 3 - In a New Year address on January 1, 2026, the chairman of Zijin Mining stated that the company will intensify its acquisition of strategic mineral resources, focusing on gold and copper, and aims to develop a globally competitive lithium segment [2] - The company plans to achieve gold production of 105 tons, copper production of 120 tons, lithium carbonate equivalent of 12 tons, and silver production of 520 tons in 2026 [2]

Market Performance - The A-share market opened the year with a strong performance, with the Shanghai Composite Index achieving a rare 13 consecutive days of gains, closing at a ten-year high of 4083.67 points, up 1.5% [2] - The Shenzhen Component Index and the ChiNext Index also saw increases of 1.4% and 0.75% respectively, indicating a broad market rally [2] - Over 140 stocks hit the daily limit up, and the total trading volume exceeded 2.8 trillion yuan [1][2] Sector Performance - The commercial aerospace sector showed significant strength, with multiple stocks hitting the daily limit up, including Luxin Venture Capital and Beidou Star Communication [2] - The brain-computer interface concept also saw a surge, with stocks like Sanbo Brain Science and Meihao Medical achieving consecutive gains [2] - The financial sector collectively rose, with companies like Hualin Securities and Dazhihui hitting the daily limit up [2] - The non-ferrous metals sector was active, with companies like Luoyang Molybdenum and Zijin Mining reaching historical highs [2] Economic Factors - Analysts attribute the strong performance of the A-share market to multiple positive factors, including improved market sentiment post-New Year and expectations of long-term capital inflows from insurance funds [3] - The macroeconomic growth policies and anticipated industry policy details related to new productivity have also contributed to the rising index [3] Company Highlights - Zijin Mining's stock rose over 6%, closing with a gain of 6.21%, leading to a market capitalization exceeding 1 trillion yuan, making it the first mining company in A-shares to reach this milestone [4] - Zijin Mining expects a net profit of approximately 51-52 billion yuan for 2025, a year-on-year increase of about 59%-62%, driven by increased production of key minerals [4] - The rise in international gold prices, influenced by geopolitical tensions, has also positively impacted Zijin Mining's performance [5] Consumer Market Impact - The increase in international gold prices has led to domestic jewelry brands like Chow Sang Sang raising their gold jewelry prices by 200 to 1500 yuan [6][8] - The price of gold jewelry is expected to continue rising, reflecting a structural change in consumer preferences towards smaller, high-design products and investment gold products [8] Market Outlook - Goldman Sachs has maintained an "overweight" rating on the A-share market, projecting a target increase of 15%-20% for the Shanghai Composite Index in 2026 [9] - Other institutions also express optimism for the A-share market, predicting a transition from valuation recovery in 2025 to profit-driven growth in 2026 [9]

沪深股通今日合计成交3185.91亿，其中紫金矿业和宁德时代分居沪股通和深股通个股成交额首位。板 块主力资金方面，非银金融板块主力资金净流入居首。ETF成交方面，恒生红利低波ETF易方达 （159545）成交额环比增长343%。 龙虎榜方面，山子高科获两家一线游资（国泰海通证券成都北一环路、国泰海通证券上海海阳西路）分 别买入1.08亿、1.01亿，同时开源证券西安西大街营业部买入2.16亿，深股通买入1.51亿。道氏技术近期 大涨，电池产业链叠加脑机接口两大热点获多路资金青睐，其中两家机构买入9316万，深股通买入8653 万，一家实力游资（国盛证券宁波桑田路）买入1.42亿。 二、板块个股主力大单资金 | | | 星矿板块主力资金监控:今日买入前五榜(2026年1月6日) | | | --- | --- | --- | --- | | 排名 | 板块名称 | 主力资金净流入(亿元) | 主力资金净流入率(%) | | 1 | 非银金融 | 70.47 | 5.69 | | N | 让券 | 67.13 | 7.25 | | 3 | 有色金属 | 61.60 | 3.15 | | 4 | 光学光电子 | 3 ...

Core Viewpoint - In a low interest rate environment, high-quality fixed income plus products are becoming increasingly sought after [1] Fund Performance - The fund has a performance benchmark of 90% of the China Bond Composite Index and 10% of the CSI 300 Index, achieving a net value growth of 41.6% since inception, significantly outperforming the 22.9% yield of the China Government Bond Index during the same period [4] - The annualized return of the fund since inception is 6.8%, with a maximum drawdown kept under 5% during a pessimistic market in September 2024, indicating a comfortable holding experience for investors [5] Fund Management - The fund, named Invesco Great Wall Jingyi Zhaoli 6-Month Holding Period Bond Fund, has a combined scale of 4.49 billion, managed by experienced professionals including Dong Han, Li Yiwen, and Zou Lihua [7] - Li Yiwen, one of the managers, has a master's degree from the University of Chicago and has extensive experience in asset management, having worked with the State Administration of Foreign Exchange and China Construction Bank [7] Asset Allocation - The fund is classified as a secondary bond fund, maintaining a stock asset proportion of 10%-20% over the past three years, thus can be viewed as a fixed income plus fund [10] - As of Q3 2025, the fund's allocation includes 51.3% in financial bonds, 20% in corporate bonds, and approximately 14% in medium-term notes and convertible bonds, with a focus on AAA-rated convertible bonds and state-owned bank secondary capital bonds [13] Equity Investments - The fund has a strong preference for non-ferrous metals, increasing its allocation to 61.09% by Q2 2025, while also favoring sectors like transportation, coal, and steel, focusing on resource stocks with dividend potential [15] - The top ten holdings include five stocks from the non-ferrous metals sector, with notable performers like Zijin Mining and Western Mining, the latter having increased by over 76% within the year [17] Overall Returns - The fund achieved a return of 11.6% in the current year, significantly outperforming the 1.05% increase in the China Government Bond Index, providing investors with unexpected returns despite a weak bond market [18]

Core Insights - Zijin Mining's stock price surged over 6%, marking a historic moment as its A-share market capitalization surpassed 1 trillion yuan for the first time, representing a significant milestone for the company and the entire non-ferrous metals and resources sector [1][3] - The company's growth from a local mining enterprise in Fujian to a global giant in copper, gold, and lithium reflects the benefits of the commodity super cycle and a re-evaluation of the value of hard assets in the current market [3][4] - The breakthrough in market capitalization signifies a shift in industry and capital logic, highlighting the increasing scarcity premium for leading companies with top-tier resources and operational excellence amid global re-inflation and energy transition trends [4][6] Investment Strategy - For investors already holding Zijin Mining shares, it is advisable to consider them as a core asset and allow profits to run [5] - New investors are cautioned against chasing high prices and should wait for overall sector fluctuations to identify companies with quality resource reserves and reasonable valuations for potential entry points [5] - The market will demand higher performance accountability from Zijin Mining following its trillion-yuan milestone, indicating a need for careful monitoring of its earnings capabilities [5]

智通财经1月6日讯，今日120股涨停，25股炸板，封板率为83%，胜通能源13连板，锋龙股份8连板，雷 科防务5连板，友邦吊顶、南兴股份4连板，索菱股份、城建发展、农心科技3连板，嘉美包装16天12 板，浙江世宝14天7板，鲁信创投8天6板，北斗星通10天5板，中国卫通6天4板。三大指数集体收涨，沪 指高开高走，日线录得13连阳，再创十年新高。量能持续放大，沪深两市成交额2.81万亿，较上一个交 易日放量2602亿。板块方面，脑机接口、化工、有色金属板块涨幅居前；美容护理、CPO、银行板块表 现相对落后。 人气及连板股分析 连板晋级率升至71.42%，其中3板及以上连板股全部实现晋级，随着人气龙头胜通能源复牌缩量涨停晋 级13连板，高位股情绪得到逆转并重新获得资金聚焦，嘉美包装、鹭燕医药、国晟科技、浙江世宝等多 只人气品种封涨停，进而带动商业航天、机器人、脑机等近端主线热度持续提升，其中20、30厘米弹性 票的赚钱效应依旧居高不下，合计涨停家数维持20家左右的高位。不过近期高弹性票的强度，仍基于几 大热门板块内10厘米人气股的不断向上拓展空间，一旦其中部分品种出现掉队，仍不利于其赚钱效应维 持高位。 | 连板 ...

| 交易日期 | 证券简称 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量( *) 买入营业部 | | 类出营业部 | 是否为专场 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-06 | 属金矿业 | 668 TO9 | 37.6 | 707.26 | 18.81 | | 茶園茶園家園酒酒 | | 警 | | 2026-01-06 | 宝宝头不 | 601899 | 37.6 | 488.8 | 13 | 菜品店餐餐餐餐 | 去自意参得的女 | | Ka | 1月6日，紫金矿业大宗交易成交31.81万股，成交额1196.06万元，占当日总成交额的0.09%，成交价37.6 元，较市场收盘价37.6元持平。 ...

Core Viewpoint - Over 60 companies in the A-share market have forecasted their 2025 performance, with more than 80% expecting positive results, driven by macroeconomic recovery and industrial upgrades [1][2]. Group 1: Company Performance Forecasts - Hunan-based company Hualing Steel expects a net profit of 2.6 billion to 3 billion yuan for 2025, representing a year-on-year growth of 27.97% to 47.66% [1]. - Zijin Mining anticipates a net profit of 51 billion to 52 billion yuan for 2025, reflecting a year-on-year increase of approximately 59% to 62%, primarily due to rising sales prices of gold, copper, and silver [1][2]. - Luxshare Precision forecasts a net profit of 16.52 billion to 17.19 billion yuan for 2025, with a growth rate of 23.59% to 28.59% [2]. - AVIC Heavy Machinery expects a net profit of 11.5 billion yuan for 2025, showing a year-on-year growth of 11.06% [2]. Group 2: Loss Forecasts - Moer Technology is projected to incur a loss of 116.8 million to 73 million yuan in 2025, while Muxi Co. anticipates a loss of 76.3 million to 52.7 million yuan [2]. - Both Moer Technology and Muxi Co. are newly listed on the Sci-Tech Innovation Board and are recognized as "domestic GPU first and second stocks," respectively, despite their current losses [2]. Group 3: Industry Trends - The performance of companies is concentrated in sectors such as materials and mining, new materials, electronic communications, and consumer services, indicating a trend towards hard technology enterprises benefiting from core technological barriers [1]. - The steel industry, represented by Hualing Steel, is undergoing a deep adjustment phase, focusing on "reduction development and stock optimization," with ongoing supply-demand contradictions [3].

Group 1 - The metal zinc concept increased by 3.22%, ranking 8th among concept sectors, with 38 stocks rising, including Siyi Co. and *ST Zhengping hitting the daily limit [1] - Notable gainers in the zinc sector include Beijiete, Zijin Mining, and Weiling Co., with increases of 8.48%, 6.21%, and 6.13% respectively [1] - The largest net inflow of main funds in the zinc sector was 1.384 billion yuan, with 27 stocks receiving net inflows, and 7 stocks exceeding 50 million yuan in net inflow [2] Group 2 - The top three stocks by net inflow ratio were Xizang Zhufeng, Feinan Resources, and Zinc Industry Co., with ratios of 10.16%, 8.80%, and 8.39% respectively [3] - Zijin Mining had a net inflow of 1.029 billion yuan, leading the sector, followed by Xingye Silver Tin and Siyi Co. with net inflows of 204 million yuan and 153 million yuan respectively [2][3] - The trading volume and turnover rates for key stocks in the zinc sector showed significant activity, with Zijin Mining at a turnover rate of 1.73% and a trading volume of 1.028 billion yuan [3][4]

Group 1 - The metal lead concept increased by 3.11%, ranking 10th among concept sectors, with 35 stocks rising, including significant gains from Xiyang Co., which hit the daily limit, and others like Beijiete, Zijin Mining, and Weiling Co. with increases of 8.48%, 6.21%, and 6.13% respectively [1][2] - The metal lead sector saw a net inflow of 1.194 billion yuan, with 22 stocks receiving net inflows, and 8 stocks exceeding 50 million yuan in net inflows. Zijin Mining led with a net inflow of 1.029 billion yuan, followed by Xiyang Co., Xiyang Co., and Tibet Zhufeng with net inflows of 204 million yuan, 153 million yuan, and 127 million yuan respectively [2][3] - The top net inflow ratios were recorded by Tibet Zhufeng, China Metallurgical Group, and Zijin Mining, with net inflow ratios of 10.16%, 7.89%, and 7.80% respectively [3] Group 2 - The trading performance of key stocks in the metal lead sector included Zijin Mining with a daily increase of 6.21% and a turnover rate of 1.73%, while Xiyang Co. had a 10.01% increase and a turnover rate of 4.09% [3][4] - Other notable stocks included Western Mining with a 3.17% increase and a turnover rate of 2.79%, and Shengtun Mining with a 5.61% increase and a turnover rate of 6.03% [4][5] - Stocks such as Beijiete and Huaxiang Co. also showed significant increases of 8.48% and 6.13% respectively, indicating strong market interest in the sector [5]