Core Viewpoint - Jinduicheng Molybdenum Co., Ltd. has established a new technology company, with a registered capital of 2 billion yuan, indicating a strategic expansion into various metal processing and manufacturing sectors [1] Group 1: Company Establishment - Jinduicheng Molybdenum Co., Ltd. has fully owned the newly established Weinan Huaxin Technology Co., Ltd. [1] - The registered capital of the new company is 2 billion yuan [1] Group 2: Business Scope - The business scope of Weinan Huaxin Technology Co., Ltd. includes the sale of non-edible salt, processing of non-ferrous metals, smelting of rare earth metals, manufacturing of non-ferrous metal alloys, and sales of non-ferrous metal alloys [1]

Group 1 - The core point of the article is the establishment of a new company, Jinduicheng Molybdenum Industry Weinan Huaxin Technology Co., Ltd., with a registered capital of 2 billion yuan [1] - The company's business scope includes the sale of non-edible salt, processing of non-ferrous metal, smelting of rare earth metals, manufacturing of non-ferrous metal alloys, and sales of non-ferrous metal alloys [1] - Jinduicheng Molybdenum Industry holds 100% ownership of the newly established company [1]

Core Viewpoint - Jinmoly Co., Ltd. has experienced a stock price decline of 2.02% on November 21, with a current price of 14.05 CNY per share, despite a year-to-date increase of 45.45% [1] Financial Performance - For the period from January to September 2025, Jinmoly Co., Ltd. achieved a revenue of 10.885 billion CNY, representing a year-on-year growth of 7.80%, and a net profit attributable to shareholders of 2.286 billion CNY, up 4.17% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 10.336 billion CNY, with 3.549 billion CNY distributed over the past three years [3] Shareholder Information - As of September 30, 2025, the number of shareholders increased by 10.65% to 82,400, while the average circulating shares per person decreased by 9.63% to 39,134 shares [2] - The second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 76.3054 million shares, a decrease of 12.6515 million shares from the previous period [3] - New entrants among the top ten circulating shareholders include Southern CSI Nonferrous Metals ETF Initiated Link A, holding 7.8797 million shares [3] Business Overview - Jinmoly Co., Ltd. primarily engages in molybdenum mining, smelting, deep processing, and the production and sale of molybdenum chemical and metal products, with mining and processing accounting for 90.14% of its main business revenue [1] - The company is classified under the non-ferrous metals industry, specifically in the small metals sector, with involvement in various concept sectors including scarce resources and aerospace military [1]

资料显示，金堆城钼业股份有限公司位于陕西省西安市高新技术产业开发区锦业一路88号金钼股份综合 楼A座，成立日期2007年5月16日，上市日期2008年4月17日，公司主营业务涉及主要从事钼矿开采及钼 炉料、钼化工、钼金属产品及配套的硫酸产品的生产和销售;同时开展钼及其它金属产品的贸易业务。 主营业务收入构成为：钼矿产品开采、冶炼及深加工90.14%，商品贸易8.73%，其他1.14%。 资金流向方面，主力资金净流出2452.05万元，特大单买入132.73万元，占比0.68%，卖出2123.25万元， 占比10.87%；大单买入3347.57万元，占比17.14%，卖出3809.09万元，占比19.50%。 金钼股份今年以来股价涨47.31%，近5个交易日跌2.20%，近20日跌2.60%，近60日涨3.87%。 11月18日，金钼股份盘中下跌2.06%，截至13:29，报14.23元/股，成交1.95亿元，换手率0.42%，总市值 459.15亿元。 金钼股份所属申万行业为：有色金属-小金属-钼。所属概念板块包括：航天军工、中盘、小金属、 OLED、基金重仓等。 截至9月30日，金钼股份股东户数8.24万， ...

Core Viewpoint - Jinmoly Co., Ltd. has experienced a stock price increase of 50.83% year-to-date, but has seen a slight decline of 1.75% over the past five trading days, indicating potential volatility in the market [1][2]. Financial Performance - For the period from January to September 2025, Jinmoly Co., Ltd. achieved a revenue of 10.885 billion yuan, representing a year-on-year growth of 7.80%. The net profit attributable to shareholders was 2.286 billion yuan, reflecting a year-on-year increase of 4.17% [2]. - Cumulatively, since its A-share listing, Jinmoly Co., Ltd. has distributed a total of 10.336 billion yuan in dividends, with 3.549 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Jinmoly Co., Ltd. reached 82,400, an increase of 10.65% from the previous period. The average circulating shares per person decreased by 9.63% to 39,134 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited as the second-largest shareholder, holding 76.3054 million shares, a decrease of 12.6515 million shares from the previous period [3]. Market Activity - On November 17, Jinmoly Co., Ltd. saw a stock price drop of 2.02%, trading at 14.57 yuan per share with a total transaction volume of 220 million yuan and a turnover rate of 0.46% [1]. - The company operates primarily in the mining and processing of molybdenum, with 90.14% of its revenue derived from molybdenum products, while trading activities contribute 8.73% [1].

Investment Rating - The report maintains a positive outlook on the copper, aluminum, and precious metals sectors, indicating a high level of market activity and potential for growth [2][3][4][5]. Core Insights - Copper prices have shown a weekly increase of 1.53% to $10,859.00 per ton on the LME, with domestic prices rising by 1.12% to 86,900 yuan per ton, reflecting a recovery in demand as the market approaches the traditional peak season [2][14]. - Aluminum prices also increased, with LME aluminum up 0.52% to $2,877.00 per ton, supported by low inventory levels and stable demand from downstream processing industries [3][15]. - Gold prices surged by 4.16% to $4,174.5 per ounce, driven by geopolitical risks and economic uncertainties in the U.S., indicating strong investor interest in safe-haven assets [4][16]. - The rare earth sector is experiencing upward momentum due to increased demand and the suspension of export control measures, leading to a bullish outlook for companies involved in rare earth production [5][32]. Summary by Sections Copper - LME copper price increased by 1.53% to $10,859.00 per ton, with domestic prices at 86,900 yuan per ton [2][14]. - The processing fee index for imported copper concentrate dropped to -$42.21 per ton, indicating supply chain pressures [2][14]. - Domestic copper inventory rose by 0.52 million tons to 20.11 million tons, reflecting a cautious market sentiment [2][14]. Aluminum - LME aluminum price rose by 0.52% to $2,877.00 per ton, with domestic prices at 21,800 yuan per ton [3][15]. - Domestic aluminum ingot inventory decreased by 0.6 million tons, indicating a tightening supply [3][15]. - The operating rate of downstream aluminum processing enterprises increased slightly to 62%, suggesting stable demand [3][15]. Precious Metals - COMEX gold price increased by 4.16% to $4,174.5 per ounce, with SPDR gold holdings rising by 6.87 tons to 1,048.93 tons [4][16]. - The market is influenced by U.S. political instability and geopolitical tensions, leading to a strong demand for gold [4][16]. Rare Earths - The price of praseodymium and neodymium oxide decreased by 1.40%, but overall demand is expected to rise due to the suspension of export controls [5][32]. - The rare earth sector is projected to benefit from increased strategic importance and price appreciation [5][32]. Other Metals - Antimony prices increased by 15.5%, driven by a suspension of export controls and a tightening supply situation [5][34]. - Tin prices rose by 3.11%, supported by reduced illegal mining activities in Indonesia [5][35]. - Lithium carbonate prices increased by 3.14% to 83,200 yuan per ton, reflecting strong demand in the energy storage sector [5][61].

Core Viewpoint - Jinmoly Co., Ltd. has shown a significant increase in stock price and positive financial performance, indicating strong market interest and potential growth in the molybdenum industry [2][3]. Financial Performance - As of September 30, 2025, Jinmoly Co., Ltd. achieved a revenue of 10.885 billion yuan, representing a year-on-year growth of 7.80% [2]. - The net profit attributable to shareholders for the same period was 2.286 billion yuan, reflecting a year-on-year increase of 4.17% [2]. - The company has distributed a total of 10.336 billion yuan in dividends since its A-share listing, with 3.549 billion yuan distributed over the past three years [3]. Stock Performance - Jinmoly's stock price has increased by 55.07% year-to-date, with a 1.01% rise over the last five trading days, 2.39% over the last 20 days, and 12.38% over the last 60 days [2]. - As of November 13, the stock was trading at 14.98 yuan per share, with a market capitalization of 48.335 billion yuan [1]. Shareholder Structure - As of September 30, 2025, the number of shareholders increased by 10.65% to 82,400, while the average number of circulating shares per person decreased by 9.63% to 39,134 shares [2]. - The second-largest shareholder, Hong Kong Central Clearing Limited, reduced its holdings by 12.6515 million shares, while the fifth-largest shareholder, China Europe Dividend Flexible Allocation Mixed A, increased its holdings by 8.5561 million shares [3].

Core Viewpoint - Jinmoly Co., Ltd. has shown a significant stock price increase of 53.93% year-to-date, indicating strong market performance and investor interest [2] Group 1: Stock Performance - As of November 12, Jinmoly's stock price rose by 2.20% to 14.87 CNY per share, with a trading volume of 90.88 million CNY and a market capitalization of 47.98 billion CNY [1] - The stock has experienced a 3.19% increase over the last five trading days, a 2.62% decrease over the last 20 days, and a 13.86% increase over the last 60 days [2] Group 2: Company Overview - Jinmoly Co., Ltd. was established on May 16, 2007, and listed on April 17, 2008, primarily engaged in molybdenum mining, production, and sales of related products [2] - The company's revenue composition includes 90.14% from molybdenum mining and processing, 8.73% from commodity trading, and 1.14% from other sources [2] - Jinmoly is classified under the non-ferrous metals sector, specifically in the small metals category focusing on molybdenum [2] Group 3: Financial Performance - For the period from January to September 2025, Jinmoly reported a revenue of 10.885 billion CNY, reflecting a year-on-year growth of 7.80%, and a net profit attributable to shareholders of 2.286 billion CNY, up 4.17% year-on-year [2] - The company has distributed a total of 10.336 billion CNY in dividends since its A-share listing, with 3.549 billion CNY distributed over the past three years [3] Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders increased by 10.65% to 82,400, with an average of 39,134 circulating shares per shareholder, a decrease of 9.63% [2] - The top circulating shareholder is Hong Kong Central Clearing Limited, holding 76.305 million shares, a decrease of 12.6515 million shares from the previous period [3]

Core Viewpoint - Jinmoly Co., Ltd. has shown a significant increase in stock price and revenue, indicating a positive growth trend in the molybdenum mining and processing industry [1][2]. Financial Performance - As of September 30, 2025, Jinmoly Co., Ltd. achieved a revenue of 10.885 billion yuan, representing a year-on-year growth of 7.80% [2]. - The net profit attributable to shareholders for the same period was 2.286 billion yuan, reflecting a year-on-year increase of 4.17% [2]. - The company has distributed a total of 10.336 billion yuan in dividends since its A-share listing, with 3.549 billion yuan distributed over the last three years [3]. Stock Performance - The stock price of Jinmoly Co., Ltd. increased by 55.18% year-to-date, with a recent slight decline of 0.20% over the last five trading days [1]. - The stock is currently trading at 14.99 yuan per share, with a market capitalization of 48.367 billion yuan [1]. Shareholder Information - The number of shareholders increased by 10.65% to 82,400 as of September 30, 2025, while the average number of circulating shares per shareholder decreased by 9.63% to 39,134 shares [2]. - Major shareholders include Hong Kong Central Clearing Limited, which holds 76.3054 million shares, a decrease of 12.6515 million shares from the previous period [3].

Core Insights - Molybdenum iron, an alloy composed of 55%-75% molybdenum, is essential for producing stainless steel, heat-resistant steel, acid-resistant steel, and tool steel, with a density of 9.0g/cm³ to 9.5g/cm³ and a melting point around 2700°C [2][4] Production and Demand - In 2024, China's cumulative molybdenum iron production is projected to reach 217,700 tons, reflecting a year-on-year increase of 5.1%, with apparent demand at 217,600 tons [2] - From January to August 2025, cumulative production is expected to be 161,400 tons, a significant year-on-year growth of 13.8%, with apparent demand at 161,700 tons, indicating a balanced supply-demand scenario [2] - Major production regions in China include Liaoning, Henan, and Shaanxi [2] Price Trends - The price of 60% molybdenum iron in China surged from 98,600 CNY/ton in 2020 to 252,200 CNY/ton in 2023, driven by intensified supply-demand conflicts [2] - In 2024, prices are expected to remain high but decline compared to 2023 due to supply release and weakened downstream demand [2] Import and Export Dynamics - Between 2022 and 2024, molybdenum iron exports have been declining, while imports have been increasing, indicating a shift towards a stronger import market [2] - In 2024, molybdenum iron imports are projected at 7,963.5 tons, a substantial year-on-year increase of 61.0%, while exports are expected to be 8,122.9 tons, down 4.7% [2] - For January to August 2025, import and export volumes are anticipated to be 3,834.4 tons and 3,601.0 tons, respectively [2] Industry Outlook - The demand for molybdenum iron is expected to remain resilient, supported by the stainless steel and special steel sectors, as well as the upgrading of high-end manufacturing [2]