Kurmuk项目位于埃塞俄比亚西部，位于首都Addis Ababa西北约750公里处。公路可达矿区且衔接至吉 布提港的高速公路，交通条件良好。项目将接入国家电网供电，供水、通讯等生产基础设施规划完善。 Sadiola金矿位于马里西部，位于首都Bamako西北约440公里处。项目临近塞内加尔边境，有高速公路途 经矿区，货物可经达喀尔港通过铁路、公路运抵，交通便利；项目以柴油发电机供电，水源取自塞内加 尔河，生产基础设施完备。 科特迪瓦金矿综合体(Bonikro和Agbaou项目)位于首都Yamoussoukro以南约100公里处，距港口城市 Abidjan约240公里。项目间相距约20公里，有高速公路相连，交通便利；项目接入国家电网供电，供 水、通讯等生产基础设施完备。 格隆汇1月26日丨紫金矿业(02899.HK)公告，北京时间2026年1月26日，紫金矿业控股的紫金黄金国际与 联合黄金签署《安排协议》，紫金黄金国际拟以44加元／股的现金价格，收购联合黄金全部已发行的普 通股，收购对价共计约55亿加元(约合人民币280亿元或40亿美元)。 联合黄金核心资产包括在产的马里Sadiola金矿、科特迪瓦金矿综合体( ...

金价迭创新高之际，A股黄金板块市值最大的公司紫金矿业（601899）再出手加码黄金赛 道：拟280亿元（人民币，下同）收购黄金资产。 具体来看，1月26日晚间，紫金矿业公告，今日，公司控股的紫金黄金国际与联合黄金签署 《安排协议》，紫金黄金国际拟以44加元/股的现金价格收购在多伦多证券交易所和纽约证券 交易所两地上市的Allied Gold Corporation（简称"联合黄金"）全部已发行的普通股，收购 对价共计约55亿加元，约合人民币280亿元。 公告显示，联合黄金是一家总部位于加拿大的黄金矿业公司，于2023年9月在多伦多证券交 易所上市，2025年6月在纽约证券交易所上市，证券代码为AAUC。 联合黄金的核心资产包括在产的马里Sadiola金矿、科特迪瓦金矿综合体（含Bonikro和 Agbaou金矿），以及将于2026年下半年建成投产的埃塞俄比亚Kurmuk金矿。截至2024年 底，联合黄金拥有金资源量533吨，平均品位1.48克/吨；联合黄金2023、2024年分别产金 10.7吨、11.1吨；预计2025年产金11.7~12.4吨；依托Sadiola项目改扩建及Kurmuk项目建 成投产，预计 ...

Core Viewpoint - The global precious metals market has reached a historic moment with spot gold prices surpassing $5000 per ounce for the first time, driven by multiple factors including central bank gold purchases, expectations of interest rate cuts by the Federal Reserve, and a trend towards de-dollarization [1][2]. Group 1: Gold Price Surge - Gold prices have increased from $4000 to $5000 per ounce within 100 days, influenced by a combination of factors rather than a single event [2]. - Central banks' ongoing gold purchases are a significant fundamental factor supporting gold prices, with China's gold reserves reaching 74.15 million ounces as of December 2025, marking 14 consecutive months of increases [2]. - The World Gold Council reported that as of November 2025, global official gold reserves exceeded 900 million troy ounces, valued at $3.93 trillion, surpassing U.S. Treasury securities for the first time in 30 years [2]. Group 2: Market Reactions - The A-share precious metals sector opened strongly on January 26, with several gold stocks reaching historical highs, reflecting the market's reassessment of gold mining companies' earnings and reserve values [3]. - The rise in gold prices has also impacted the consumer market, with gold jewelry prices reaching record highs, prompting increased consumer purchases as a form of asset allocation [3]. Group 3: Company Performance and Outlook - Several precious metal companies have announced profit forecasts for 2025, with Zijin Mining expecting a net profit of 51 to 52 billion yuan, a year-on-year increase of 59% to 62% [4]. - Chifeng Jilong Gold anticipates a net profit of 3 to 3.2 billion yuan, reflecting a year-on-year growth of 70% to 81%, while Hunan Gold expects a net profit of 1.27 to 1.608 billion yuan, up 50% to 90% [4]. - Despite the optimistic market sentiment, some institutions have begun to signal short-term risks, suggesting that if the Federal Reserve delays interest rate cuts in the first half of 2026, it may trigger profit-taking [4].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 Zijin Mining Group Co., Ltd.* Zijin Gold International Company Limited （於中華人民共和國註冊成立的股份有限公司） （股份代號：2899） （股份代號：2259） 紫金礦業集團股份有限公司 紫金黃金國際有限公司 （於香港註冊成立的有限公司） 對紫金黃金國際而言 由於本次交易的最高適用百分比率（定義見上市規則）高於 5%但低於 25%，本次交易構成 上市規則第十四章下紫金黃金國際的須予披露的交易，因此須遵守上市規則有關通知及公告 聯合公告 紫金礦業之自願性公告及紫金黃金國際之須予披露的交易 關於擬收購 Allied Gold Corporation 100%股權的公告 北京時間 2026 年 1 月 26 日，紫金礦業控股的紫金黃金國際與聯合黃金簽署《安排協議》， 紫金黃金國際擬以 44 加元／股的現金價格，收購聯合黃金全部已發行的普通 ...

A股复盘 | 来，朝这儿砸 / 2026.01.26 谁这么会总结？建议去 SpaceX上班！ 今天咱妈又教育熊孩子了。早上先是ETF放量，尾盘又来压，紫金矿业卖一超40亿元 。 主要是，黄金白银真的涨疯了！早上还没开盘就直线冲破了5000美元，突破重要关口之后直线加速，午后一度涨超5100美元/盎司，续创历史新高。 受此影响，申万一级有色金属行业今日大涨4.57%，而今年以来有色金属行业大涨24%，其中紫金矿业大涨14.59%。 美银分析师迈克尔·哈特尼特（Michael Hartnett）在一份致客户的报告中写道："历史虽不能完全预示未来，但回顾此前四轮黄金牛市，金价在约43个月内平 均上涨达300%。 这一规律暗示，金价有望在2026年春季升至每盎司6000美元。"若该目标实现，意味着金价将较当前历史高位再上涨逾20%。 再说存储，有个传闻，咱们群友跑得快！ | 立昂微v | | | | | | --- | --- | --- | --- | --- | | 605358 融 沪股通 L1 | | | | | | 42.63 | 高 | 44.20 | 市值 286.21亿 | 量比 1.35 | | ...

Core Viewpoint - The gold sector has experienced a significant surge, with gold prices surpassing $5000, leading to a collective rise of over 10% in gold stocks on January 26, marking a rare event in the A-share market [2][3]. Group 1: Market Performance - On January 26, the precious metals sector led the A-share market, with notable stocks like China Gold (600916) hitting the daily limit and achieving a rare two consecutive limit-up days [3]. - Several gold stocks, including Hunan Gold (002155) and Zhaojin Mining (000506), saw increases of around 10% [4][6]. - The overall trading volume in the gold sector reached 354.42 billion [3]. Group 2: Company Earnings Forecasts - Hunan Gold announced an expected net profit of 1.27 billion to 1.608 billion for 2025, representing a year-on-year increase of 50% to 90% [8][9]. - Zhaojin Mining projected a net profit of 122 million to 182 million for 2025, recovering from a loss of 127 million in the previous year [10][11]. - Zijin Mining (601899) expects a net profit of 51 billion to 52 billion for 2025, reflecting a growth of 59% to 62% [12]. - Chifeng Jilong Gold Mining (600988) anticipates a net profit of 3 billion to 3.2 billion for 2025, indicating a growth of 70% to 81% [12].

Mergers and Acquisitions - Evert plans to acquire equity in Shengpu Co., with the stock suspended. Shengpu focuses on the R&D, production, and sales of precision fluid control equipment and core components, including automatic glue spraying machines and coating equipment [1] - Zijin Mining intends to acquire 100% equity of United Gold for 28 billion yuan, with United Gold holding gold resources of 533 tons as of the end of 2024 [1] - Dinglong Co. plans to acquire 70% equity in Haofei New Materials for 630 million yuan. Haofei is a leading domestic company in new lithium battery dispersants [1] External Investments and Daily Operations - Haike New Source signed a long-term cooperation agreement with BYD Lithium Battery to supply at least 100,000 tons of electrolyte solvent annually [2] - Chuanhuan Technology plans to invest 1.1 billion yuan to build a manufacturing headquarters in East China, focusing on automotive fuel systems and cooling systems [2] - Changyuan Donggu received a notification letter for a designated sales project, with a total lifecycle sales amount expected to be between 2.2 billion and 3 billion yuan [2] Performance Changes - Rockchip expects a net profit of 1.023 billion to 1.103 billion yuan in 2025, representing a growth of 71.97% to 85.42% year-on-year, driven by rapid growth in AIoT computing platforms and breakthroughs in key product lines [3] - Duofuduo anticipates a net profit of 200 million to 280 million yuan in 2025, recovering from a loss of 308 million yuan in the previous year, benefiting from the rapid growth in demand for new energy vehicles and energy storage [3] - Lante Optics expects a net profit of 375 million to 400 million yuan in 2025, an increase of 70.04% to 81.38% year-on-year, supported by its core customer base and diversified product layout [4] - Litong Electronics forecasts a net profit of 270 million to 330 million yuan in 2025, a significant increase of 996.83% to 1240.57% year-on-year, attributed to improved profitability in computing business and reduced losses in manufacturing [4] - Suotong Development expects a net profit of 730 million to 850 million yuan in 2025, an increase of 167.98% to 212.03% year-on-year, driven by favorable market conditions and rising prices in the prebaked anode sector [4] - Chunzong Technology anticipates a net profit of 265 million to 290 million yuan in 2025, a growth of 208.86% to 238.00% year-on-year, with significant gains from investments in Muxi shares [4] - China Rare Earth expects a net profit of 143 million to 185 million yuan in 2025, marking a turnaround from losses [5] - Gallen Electronics anticipates a net profit of 36 million yuan in 2025, also indicating a turnaround from losses [6]

紫金矿业表示，本次收购符合公司发展战略，将显著增强公司黄金板块的综合实力，推动公司矿产金产 量大幅增长，对巩固公司在全球黄金行业的领先地位，达成全球超一流矿业集团的战略目标具有重大意 义。 交易行情显示，1月26日，紫金矿业收涨5.17%，收于39.5元/股，总市值1.05万亿元。 北京商报讯（记者 马换换 李佳雪）1月26日晚间，紫金矿业（601899）披露公告称，公司控股的紫金黄 金国际与Allied Gold Corporation（以下简称"联合黄金"）签署《安排协议》，紫金黄金国际拟以44加元/ 股的现金价格，收购联合黄金全部已发行的普通股，收购对价共计约55亿加元（约合人民币280亿 元）。 公告显示，联合黄金是一家总部位于加拿大的黄金矿业公司，于2023年9月在多伦多证券交易所上市， 2025年6月在纽约证券交易所上市，证券代码为AAUC。联合黄金核心资产包括在产的马里Sadiola金 矿、科特迪瓦金矿综合体（含Bonikro和Agbaou金矿），及将于2026年下半年建成投产的埃塞俄比亚 Kurmuk金矿。根据公开披露信息，截至2024年底，联合黄金拥有金资源量533吨，平均品位1.48克/吨 ...

Core Insights - Public funds continue to focus on technology growth and high-end manufacturing, while also reallocating to consumer and financial leaders with returning valuations [1][14] - The structure of holdings indicates a significant increase in positions in AI computing, semiconductor equipment, and resource sectors, while reducing exposure to batteries, consumer electronics, and pharmaceuticals [14] Group 1: Fund Holdings Overview - As of Q4 2025, public fund holdings data shows that technology growth and high-end manufacturing remain core investment directions, with traditional industry leaders and some cyclical stocks also maintaining high allocation levels [1] - The top 50 heavy stocks include major players in technology sectors such as communication, AI, and electronics, reflecting institutional confidence in technological innovation and industrial upgrades [2][3] - Notable stocks like Ningde Times, Zhongji Xuchuang, and Zijin Mining are held by over a thousand funds, indicating strong consensus among institutions on these targets [4] Group 2: Increases in Holdings - The increase in holdings is prominently seen in technology stocks, with Zhongji Xuchuang receiving over 22.6 billion yuan in fund increases, ranking first, followed by Xinyi Sheng with approximately 9.6 billion yuan [5][6] - Traditional sectors also saw significant increases, with China Ping An gaining over 10.5 billion yuan, and other blue-chip stocks like Midea Group and Haier Smart Home returning to substantial increase lists [5] - Resource stocks such as Zijin Mining and Luoyang Molybdenum also experienced collective increases, reflecting high enthusiasm for non-ferrous and energy metal sectors amid global manufacturing recovery expectations [5] Group 3: Decreases in Holdings - Certain stocks in the consumer electronics and OEM sectors, including Industrial Fulian and Lixun Precision, faced collective reductions, indicating a cautious stance on their growth prospects [8] - The internal structure of the new energy vehicle supply chain showed differentiation, with battery leaders like Ningde Times and Yiwei Lithium Energy being reduced [8] - Pharmaceutical stocks like Heng Rui Medicine and WuXi AppTec also saw significant reductions due to industry policy uncertainties and valuation pressures [8] Group 4: New Entrants in Holdings - A number of new stocks have entered the fund's heavy holdings, characterized by small to mid-cap sizes and high growth expectations, covering advanced manufacturing and industrial upgrade sectors [11][12] - Notable new entrants include Chaojie Co. and Guocheng Mining, which have garnered attention from multiple funds, indicating potential focus areas for institutional investment [11][12]

紫金矿业集团旗下子公司同意以55亿加元收购加拿大矿企Allied Gold，进一步巩固其在全球黄金生产领 域的地位。 消息公布后，Allied Gold美股盘前一度涨近9%。 根据此前公告，紫金黄金国际与Allied Gold Corporation签署《安排协议》，紫金黄金国际拟以44加元/ 股的现金价格，收购联合黄金全部已发行的普通股，收购对价共计约55亿加元（约合人民币280亿 元）。 紫金矿业已在非洲拥有多个项目，包括在刚果民主共和国的铜矿和锂矿资产，以及在加纳的一座金矿。 此次收购Allied Gold将进一步扩大其在非洲的黄金业务布局。 紫金矿业近年来迅速崛起，已成为全球最大的黄金和铜生产商之一。随着金价持续攀升，中国矿企正加 快在海外黄金资产领域的收购步伐，以满足国内需求并提升全球市场份额。 Allied Gold在非洲运营金矿资产，在马里和科特迪瓦拥有运营中的金矿，并在埃塞俄比亚开发新项目。 此次收购将为紫金矿业增添三座金矿，这些矿山预计去年产金量达40万盎司。 扩大非洲黄金版图 此次收购将为紫金矿业的资产组合新增三座金矿，预计去年产金量最高可达40万盎司。其中，马里的 Sadiola金矿占该 ...