Core Viewpoint - The non-ferrous metal sector has shown strong performance, leading the market with a net inflow of 4.8 billion yuan on the last trading day of 2025, indicating investor confidence in the sector's future performance [1][9]. Group 1: Market Performance - The non-ferrous metal sector recorded a remarkable increase of over 92% in 2025, outperforming the second-best sector, communications, by 5.37 percentage points [4][15]. - Major stocks in the sector, such as Jiangxi Copper, Yunnan Copper, and Shengxin Lithium Energy, have seen significant gains, with Jiangxi Copper leading with over 9% increase [3][11]. Group 2: Investment Trends - The Huabao Non-Ferrous Metal ETF (159876) has attracted substantial investment, with a net subscription of 2.4 million units and 85.71 million yuan in the past five days, reflecting strong market interest [1][9]. - Analysts attribute the strong performance of the non-ferrous metal sector to macroeconomic policies and structural changes in supply and demand, alongside a global easing of monetary policy and a weakening dollar [2][12]. Group 3: Future Outlook - The non-ferrous metal sector is expected to continue its strong performance into 2026, driven by emerging demands in AI, new energy, and other innovative sectors, as well as domestic policies aimed at regulating industry competition [2][5]. - The current bull market is characterized by a shift towards "new quality productivity," integrating global energy transitions and technological advancements, which are key drivers for the demand in the non-ferrous metal sector [5][13]. Group 4: Investment Strategy - A diversified investment approach through the Huabao Non-Ferrous Metal ETF and its associated funds is recommended to capture the overall sector's performance while mitigating risks associated with individual metal investments [6][16].

Group 1 - The core point of the article is that Zijin Mining (02899.HK) has seen its stock price increase by over 3%, specifically a rise of 3.51%, reaching a price of 36.6 HKD [1] - The trading volume for Zijin Mining is reported at 642 million HKD, indicating significant market activity [1]

Group 1 - The non-ferrous metal sector experienced a significant upward trend on December 31, with copper and precious metals leading the gains [1] - Zijin Mining (601899) and Luoyang Molybdenum (603993) both rose over 4%, reaching new historical highs [1] - Jiangxi Copper (600362) approached the daily limit increase, marking its highest level since January 2008 [1] Group 2 - Other companies such as Shengda Resources (000603), Yunnan Copper (000878), and Tongling Nonferrous Metals (000630) also saw increases in their stock prices [1]

Group 1 - The non-ferrous metal sector experienced a strong rebound on December 31, with Jiangxi Copper hitting the daily limit up [1] - Zijin Mining rose over 5%, indicating positive market sentiment towards the company [1] - Other companies such as Yunnan Copper, Hunan Silver, and Silver Holdings also saw gains, reflecting a broader trend in the sector [1]

智通财经APP获悉，紫金矿业(02899)涨超3%，截至发稿，涨3.51%，报36.6港元，成交额6.42亿港元。 消息面上，12月30日，紫金矿业发布2025年业绩预告，预计全年实现归母净利润约510-520亿元，同比 增长约59%-62%，再创历史新高。2025年，公司主营产品持续放量，矿产金同比增长23.5%至90吨，矿 产铜同比增长2%至109万吨。公司指出，根据此次公告披露，其2026年产量仍将保持高速增长：矿产金 105吨、矿产铜120万吨、当量碳酸锂12万吨、矿产银520吨。这一目标如按期完成，矿产金产量将较原 计划提前两年突破百吨大关。 ...

Core Insights - The development of lithium resources in China is expected to see significant advancements and achievements by 2025, with multiple large-scale lithium mining projects being established across various provinces, enhancing the supply capacity of lithium resources and supporting the stable development of the new energy industry chain [1] Group 1: Major Lithium Mining Projects - Tianhua New Energy's subsidiary obtained a mining license for the ceramic soil (containing lithium) mine in Jiangxi Province, with a production scale of 9 million tons per year and a validity period of 23 years [2] - The Vilarasto lithium polymetallic mine in Inner Mongolia received a mining license, with a total mineral reserve of 55.27 million tons, including 4.198 million tons of Li2O, and is expected to generate an annual output value of 2.3 billion yuan [4][5] - The Xinjiang Hotan Dahongliutan 509 lithium mine development plan was approved, proposing a production scale of 4 million tons per year [6] - The Yajiang Muro lithium mine in Sichuan received approval for its mining and selection tail project, with a mining scale of 3 million tons per year [7][8] - The Daba lithium mine in Sichuan's Ma'erkang City has a proposed production scale of 5 million tons per year, with an estimated service life of 23 years [9] - The Shuangtan quartz mine in Yajiang has a proposed lithium mining scale of 2.6 million tons per year, with a service life of 29 years [10] Group 2: New Developments and Approvals - The Garin Zangke Potash Fertilizer Company received mining rights for lithium as a by-product, expanding its mining scope to include lithium, magnesium, and boron [11] - Dazhong Mining's subsidiary obtained a mining license for the Hunan Jijia Mountain lithium mine, with a planned open-pit mining scale of 20 million tons per year [12] - The application for the renewal of mining rights for the lithium mine in Jiangxi Province has been submitted to the Ministry of Natural Resources [13][14] - Zijin Mining's lithium polymetallic mine project in Hunan has been completed and put into production, marking a significant step towards becoming one of the largest lithium suppliers globally [15]

消息面上，12月30日，紫金矿业发布2025年业绩预告，预计全年实现归母净利润约510-520亿元，同比 增长约59%-62%，再创历史新高。2025年，公司主营产品持续放量，矿产金同比增长23.5%至90吨，矿 产铜同比增长2%至109万吨。公司指出，根据此次公告披露，其2026年产量仍将保持高速增长：矿产金 105吨、矿产铜120万吨、当量碳酸锂12万吨、矿产银520吨。这一目标如按期完成，矿产金产量将较原 计划提前两年突破百吨大关。 紫金矿业（601899）(02899)涨超3%，截至发稿，涨3.51%，报36.6港元，成交额6.42亿港元。 ...

Group 1 - The non-ferrous metal sector showed strength on December 31, with Jiangxi Copper rising over 4%, and other companies like Huayou Cobalt, Hunan Silver, Yunnan Zinc, and Zijin Mining also experiencing gains. The non-ferrous mining ETF (159690) increased by 1.5%, with net inflows exceeding 25 million yuan over the past five trading days [1] - Zijin Mining announced its earnings forecast for 2025, expecting a net profit attributable to shareholders of 51 billion to 52 billion yuan, marking the best annual performance since its listing, with a year-on-year growth of approximately 59% to 62%. The non-recurring net profit is projected to be between 47.5 billion and 48.5 billion yuan, reflecting a year-on-year increase of about 50% to 53% [3] - The non-ferrous mining ETF (159690) tracks an index where Zijin Mining holds a weight of 10.03% [4] Group 2 - The non-ferrous mining ETF (159690) closely tracks the non-ferrous mining index, investing in companies with upstream mineral resources, including Northern Rare Earth, Zijin Mining, Luoyang Molybdenum, Huayou Cobalt, and China Aluminum. The index has seen a year-to-date increase of 103.55%, while the non-ferrous metal industry index rose by 102.5%, indicating stronger performance compared to similar indices [6] - According to a report, the global supply of new mines is expected to significantly decline by 2026, leading to a structural bottleneck in supply. This situation, combined with unexpected production cuts from core mines and rising resource nationalism in major resource regions, will enhance the bargaining power and profit distribution position of the mining sector [6]

Group 1 - The core viewpoint of the news is that Zijin Mining has shown a positive stock performance, with a 1.08% increase, reaching a price of 33.78 yuan per share and a total market capitalization of 898.2 billion yuan [1] - Zijin Mining's main business involves mineral resource exploration and development, with revenue composition as follows: smelting products 60.94%, mineral products 36.48%, other 16.83%, and trade 8.02% [1] Group 2 - Dongxing Fund has a significant holding in Zijin Mining, with the Dongxing Chenrui Quantitative Mixed A fund holding 38,000 shares, representing 2.86% of the fund's net value, making it the largest holding [2] - The Dongxing Chenrui Quantitative Mixed A fund has achieved a year-to-date return of 25.19% and a one-year return of 22.25%, ranking 3756 out of 8085 and 3937 out of 8085 respectively [2]

Group 1 - 32 companies have announced their annual performance forecasts, with 26 companies expecting profit increases, representing 81.25% of the total [1] - Among the companies expecting profit increases, one company anticipates a net profit growth exceeding 100%, while four companies expect a net profit growth between 50% and 100% [1] - Bai Ao Sai Tu is projected to have the highest net profit growth at a median of 303.57%, followed by N Heng Dong Guang and C Qiang Yi with median growths of 92.25% and 66.24% respectively [1] Group 2 - The average decline for companies expected to double their profits this year is 22.07%, underperforming compared to the Shanghai Composite Index [2] - The list of companies with expected significant profit increases includes Bai Ao Sai Tu with a median net profit growth of 303.57%, N Heng Dong Guang at 92.25%, and C Qiang Yi at 66.24% [2] - Other notable companies include Zijin Mining with a median net profit growth of 60.50% and Mu Xi Co., Ltd. with a growth of 54.22% [2]