Monetary Policy - The People's Bank of China indicates that there is still room for reserve requirement ratio and interest rate cuts this year, with the current average reserve requirement ratio at 6.3% [1] - As of the end of December, the broad money supply (M2) reached 340.29 trillion yuan, reflecting an 8.5% year-on-year increase [1] Securities and Financing - Some brokerage firms are experiencing tight margin financing quotas, although major brokerages report sufficient funds [2] - Recent weeks have seen significant inflows into FOF products sold by fund companies through banks, with one company reporting over 200 million yuan in inflows [2] Automotive Industry - The price of entry-level LiDAR has dropped to around 1,000 to 3,000 yuan, which may enhance the adoption of traditional LiDAR in vehicles [3] - The demand for computing power in the automotive and autonomous driving sectors is expected to see a significant surge, potentially expanding tenfold with the rollout of L3 technology [3] Technology and Electronics - Global smartphone shipments are projected to reach 1.25 billion units in 2025, marking a 2% year-on-year increase, driven by seasonal demand and improved inventory management [4] - DRAM prices are rising due to suppliers hoarding inventory, with mainstream DDR4 prices increasing by approximately 9.64% [4] Corporate Developments - Vanke has proposed four debt restructuring plans, including options for full extension or partial repayment of principal, with a maximum of 40% principal repayment [4] - Longfor is seeking a valuation of approximately $30 billion for its Watsons retail subsidiary in an upcoming IPO [5] - Baoneng Automotive is reportedly facing a sales halt, with no vehicles available for sale [5] Financial Performance - China State Construction reported a 1% year-on-year increase in new contract value for 2025, totaling 45.458 trillion yuan [14] - China Metallurgical Group's new contract value for 2025 decreased by 10.8% year-on-year, totaling 1.1136 trillion yuan [15] - Siyuan Electric's net profit for 2025 is expected to grow by 54.35% year-on-year, reaching 3.163 billion yuan [16] - Chongqing Steel anticipates a net loss of 2.5 to 2.8 billion yuan for 2025, although this represents an improvement from the previous year's loss [18] Market Activity - The trading volume of the CSI 500 ETF exceeded 26.3 billion yuan, setting a historical record [22] - The Shanghai Composite Index fell by 0.33%, while the Shenzhen Component Index and the ChiNext Index saw gains [22][23]

Group 1 - Zijin Mining Group Co., Ltd. signed a project cooperation and equity transfer agreement with Jinduicheng Molybdenum Co., Ltd. on January 15, 2026 [1] - The agreement is based on a framework established in a letter of intent signed on August 29, 2025, regarding the integrated development and deep processing of the Shapinggou Molybdenum Mine in Jinzhai County, Anhui Province [1] - Jinduicheng Molybdenum Co., Ltd. and Anhui Jinsan Molybdenum Co., Ltd. will jointly invest to establish a smelting company in the county where Jinsan Molybdenum holds 100% equity of the Shapinggou Mine [1] Group 2 - The registered capital, investment scale, and production capacity of the smelting company will align with the development scale of the Shapinggou Mine to ensure stable synergy [1] - Jinduicheng Molybdenum Co., Ltd. and Jinsan Molybdenum will hold 51% and 49% equity in the smelting company, respectively, with Jinduicheng Molybdenum leading its construction and operation [1] - Zijin Mining agreed to transfer 24% equity of Jinsan Molybdenum to Jinduicheng Molybdenum for a consideration of RMB 173,087 million, resulting in Zijin Mining holding 60% and Jinduicheng Molybdenum holding 34% of Jinsan Molybdenum after the transfer [1]

Core Viewpoint - Zijin Mining Group Co., Ltd. has signed a project cooperation and equity transfer agreement with Jinduicheng Molybdenum Co., Ltd. for the integrated development and deep processing of the Shapingou Molybdenum Mine in Jinzhai County, Anhui Province [1] Group 1: Agreement Details - The agreement was signed on January 15, 2026, following a cooperation intention letter signed on August 29, 2025 [1] - Zijin Mining will transfer 24% equity of Jinsan Molybdenum Co. to Jinduicheng Molybdenum for a consideration of RMB 173,087 million [1] - Post-transfer, Zijin Mining will hold 60% of Jinsan Molybdenum, Jinduicheng Molybdenum will hold 34%, and Jinzhai County Urban Development Investment Co., Ltd. will hold 6% [1] Group 2: Project Significance - The Shapingou Molybdenum Mine is a rare super-large undeveloped porphyry molybdenum mine with significant resource reserves, single composition, concentrated ore body, and high grade [1] - This cooperation aims to create a complementary advantage where Zijin Mining leads the mining development and Jinduicheng Molybdenum leads the smelting and processing [1] - The project is expected to promote efficient development of the Shapingou Molybdenum Mine, extend the industrial chain, boost local economic development, and accelerate the transformation of resource advantages into economic benefits [1]

（记者 王晓波） 每经头条（nbdtoutiao）——不到20万元，就能买特斯拉了？"廉价版"Model 3或进入中国市场，续航里 程480公里！关于自动驾驶，美国市场也有大调整 每经AI快讯，金钼股份1月15日晚间发布公告称，公司将以人民币约17.31亿元对价收购紫金矿业集团股 份有限公司转让的安徽金沙钼业有限公司24%股权。本次交易完成后，公司持有金沙钼业34%的股权， 紫金矿业持有金沙钼业60%的股权。 ...

格隆汇1月15日｜紫金矿业公告，公司与金堆城钼业股份有限公司签署《项目合作及股权转让协议》。 双方在2025年8月29日签署的《合作意向书》框架下，正式就安徽省金寨县沙坪沟钼矿的一体化开发和 深加工等业务达成一揽子合作。依据《合作协议》，金钼股份应与安徽金沙钼业有限公司共同出资，在 金沙钼业所在县域设立从事钼金属冶炼和深加工等业务的冶炼公司，其注册资本、投资规模、建设产能 等设计指标应与沙坪沟钼矿开发建设规模相匹配，并确保能形成稳定的协同关系。金钼股份、金沙钼业 将分别持有冶炼公司51%、49%股权，冶炼公司的建设、运营由金钼股份主导，具体事宜由相关方另行 签订协议明确。 ...

紫金矿业公告称，2026年1月15日，公司与金钼股份签署《项目合作及股权转让协议》。合作包括冶炼 合作、股权交易两部分，双方将共同出资设立冶炼公司，金钼股份、金沙钼业分别持股51%、49%。紫 金矿业以173,087万元向金钼股份转让金沙钼业24%股权，转让后紫金矿业等分别持股60%、34%、 6%。款项分两期支付，若金钼股份未按约定投资等，紫金矿业有权收回股权。此次合作将推动沙坪沟 钼矿高效开发。 ...

股票代码：601958 股票简称：金钼股份 公告编号： 2026-001 金堆城钼业股份有限公司 关于收购参股公司部分股权的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 交易内容概述：金堆城钼业股份有限公司（以下简称公司或金钼 股份）将以人民币 173,087 万元对价收购紫金矿业集团股份有限公司（以 下简称紫金矿业）转让的安徽金沙钼业有限公司（以下简称金沙钼业） 24%股权。本次交易完成后，公司持有金沙钼业 34%的股权，紫金矿业（或 其全资子公司）持有金沙钼业 60%的股权。 本次交易不构成关联交易。 本次交易对于公司不构成《上市公司重大资产重组管理办法》规 定的重大资产重组。 本次交易在公司董事会决策的权限范围内，无需提交股东会审议。 风险提示：本次收购是公司基于发展战略和强化产业优势作出的 慎重决定，但面临未来可能存在行业政策变化、市场竞争环境、经营管 理等诸多不确定因素，存在一定的投资风险。敬请投资者理性判断，注 意投资风险。 1 2025 年 8 月 29 日，公司与紫金矿业签署《合作 ...

股票代码：601958 股票简称：金钼股份 公告编号：2026-002 金堆城钼业股份有限公司 关于变更审计报告签字注册会计师和质控 合伙人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 金堆城钼业股份有限公司（以下简称公司或金钼股份）分别于2025 年4月1日召开的第五届董事会第十九次会议和6月24日召开的2024年年度 股东大会，审议通过了《关于聘请公司2025年度财务审计及内部控制审计 机构的议案》，同意聘请希格玛会计师事务所（特殊普通合伙）（以下简 称希格玛）担任公司2025年度财务审计及内部控制审计机构，具体详见公 司披露的《金钼股份聘请会计师事务所公告》（2025-006）及《金钼股份 2024年年度股东大会决议公告》（2025-016）。 近日，公司收到希格玛出具的《关于变更金堆城钼业股份有限公司 2025年度审计报告签字注册会计师和质控合伙人的函》，现将有关情况公 告如下： 一、本次审计项目合伙人及签字注册会计师变更情况 人员为公司年报项目（以下简称本项目）提供审计服务。由于希格玛内部 工作调整原 ...

每经AI快讯，1月15日，金钼股份公告称，将以17.31亿元对价收购紫金矿业转让的安徽金沙钼业有限公 司24%股权。交易完成后，公司将持有金沙钼业34%的股权，紫金矿业（或其全资子公司）持有60%。 此次收购旨在强化资源保障，巩固行业影响力，并加快实现沙坪沟钼矿开发建设。交易不构成关联交 易，无需提交股东会审议。 ...

再推【钼】：海外军备或大幅扩张，22 年行情有望复现 20260112 摘要 钼价受供需关系影响显著，近期虽因南美进口矿超预期增加及钢厂盈利 走弱而下跌，但 11 月出口恢复理性，库存仍处低位，价格已回升至 4,200 元/吨。 2026 年前 11 个月，国内钼产量小幅增长，进口量大幅增加 93%，表 观消费增长 6%，需求旺盛与钢招量增长一致，验证了去库逻辑，支撑 钼均价持续上涨。 高端不锈钢是钼需求的主要构成，占比 50%，其次是品种钢和军用特钢。 油气领域资本开支减少对高端不锈钢消费有影响，但整体钢产量仍增长， 品种钢和军用特钢订单旺盛。 全球钼供应增速预计在 26-27 年较低（2-3%），而需求增速更强（4- 5%），叠加当前低库存，未来两到三年内钼价具备较强的上涨确定性。 钨与钼在军用领域存在替代或孪生关系，钨价创新高后，部分需求可能 转向成本相对较低的钼。美国国防开支增加也将拉动对钼的需求。 Q&A 为什么在当前时间点推荐木板块？ 目前木价已经回到了应有的位置，且美国总统特朗普宣布 2027 年国防开支将 达到 1.5 万亿美元，这一消息预示着海外军费预期大幅提升。钼本身的供需缺 口在 202 ...