Core Viewpoint - The rare metals sector shows positive momentum, with significant inflows into ETFs and optimistic forecasts for future demand driven by high-tech industries and geopolitical factors [1][2]. Group 1: Market Performance - As of February 6, 2026, the CSI Rare Metals Theme Index (930632) increased by 0.67%, with notable gains from stocks such as Zhangyuan Tungsten Industry (+7.10%) and Northern Rare Earth (+4.07%) [1]. - The Rare Metals ETF (561800) also saw a rise of 0.56% [1]. - The top ten weighted stocks in the CSI Rare Metals Theme Index account for 59.71% of the index, with companies like Luoyang Molybdenum and Northern Rare Earth leading the list [1]. Group 2: Fund Inflows - As of February 5, 2026, the Rare Metals ETF experienced a net inflow of 4.832 million yuan, with a total of 21.017 million yuan net inflow over the past ten trading days [1]. - Six out of the last ten trading days recorded net inflows, indicating strong investor interest [1]. Group 3: Future Outlook - The fund manager of the Huafu Rare Metals ETF remains optimistic about the sector, citing three main reasons: 1. Rare metals are crucial for high-tech industries and are increasingly controlled by nations amid rising geopolitical tensions [1]. 2. The downstream demand for rare metals remains robust, particularly in sectors like new energy vehicles and wind power [1]. 3. Recent price increases across various rare metal segments and positive earnings forecasts from key companies support a strong fundamental outlook [1]. Group 4: Investment Tool - The Rare Metals ETF (561800) tracks the CS Rare Metals Index, which has a high lithium content of 30%-40%, making it an excellent investment tool for market participants looking to gain exposure to the rare metals industry [2].

Market Overview - The Hang Seng Index opened down by 1.97%, closing at 26,354.34, a decrease of 530.90 points with a trading volume of 6.6 billion [2] - The Hang Seng Tech Index fell by 2.42%, closing at 5,275.12, down by 131.01 points with a trading volume of 3.3 billion [2] - The Hang Seng Biotech Index decreased by 1.55%, closing at 15,006.22, with a trading volume of 0.08 billion [2] - The Hang Seng China Enterprises Index dropped by 1.88%, closing at 8,922.14, with a trading volume of 3.7 billion [2] - The Hang Seng Composite Index fell by 1.92%, closing at 4,032.33, with a trading volume of 5.4 billion [2] Sector Performance - Technology stocks experienced a broad decline, with Baidu Group falling over 4%, and Alibaba, Kuaishou, Bilibili, NetEase, and Hua Hong Semiconductor all dropping over 3% [2] - Other notable declines included SenseTime, JD Group, Tencent Holdings, and SMIC, each down by more than 2% [2] Individual Stock Movements - Baidu Group-SW decreased by 4.33%, closing at 134.80 [3] - Kingdee International fell by 4.30%, closing at 10.90 [3] - JD Health dropped by 3.96%, closing at 58.25 [3] - Alibaba-W declined by 3.82%, closing at 153.50 [3] - Kuaishou-W decreased by 3.70%, closing at 70.30 [3] - Bilibili-W fell by 3.29%, closing at 234.80 [3] - NetEase-S dropped by 3.06%, closing at 186.70 [3] - Other notable declines included Xpeng Motors, SenseTime, JD Group-SW, Tencent Holdings, and SMIC, all experiencing declines between 2.15% and 2.90% [3] Commodity Sector - The non-ferrous metals sector continued to show weakness, with China Gold International, Jiangxi Copper, Lingbao Gold, and Shandong Gold all dropping over 5% [4] - China Gold International fell by 5.36%, closing at 180.00 [4] - Jiangxi Copper decreased by 5.34%, closing at 41.10 [4] - Lingbao Gold and Shandong Gold both fell by 5.11%, closing at 20.78 and 36.74 respectively [4]

Group 1 - The core point of the article highlights the significant decline in the performance of the Penghua Nonferrous ETF (159880), which opened down by 5.31% at 2.070 yuan on February 6 [1] - Major holdings within the Penghua Nonferrous ETF experienced notable drops, including Zijin Mining down 5.07%, Luoyang Molybdenum down 5.28%, and Northern Rare Earth down 2.71% [1] - The performance benchmark for the Penghua Nonferrous ETF is the National Index of Nonferrous Metals Industry, managed by Penghua Fund Management Co., Ltd., with a return of 118.31% since its inception on March 8, 2021, and a recent one-month return of 9.33% [1]

Core Viewpoint - The article discusses the performance of the Silver Hua ETF (159871) and its major holdings, highlighting a significant decline in share prices on February 6, 2023 [1] Group 1: ETF Performance - The Silver Hua ETF (159871) opened down by 4.35%, priced at 2.067 yuan [1] - Since its inception on March 10, 2021, the fund has achieved a return of 116.34%, with a one-month return of 8.68% [1] Group 2: Major Holdings Performance - Major holdings in the ETF experienced notable declines, including: - Zijin Mining down by 5.07% - Luoyang Molybdenum down by 5.28% - Northern Rare Earth down by 2.71% - Huayou Cobalt down by 3.31% - China Aluminum down by 3.64% - Ganfeng Lithium down by 3.04% - Shandong Gold down by 3.97% - Yun Aluminum down by 1.78% - Zhongjin Gold down by 6.08% - Zhongmin Resources down by 1.79% [1]

Core Viewpoint - The A-share market experienced a decline, particularly in the non-ferrous metal sector, with the Huabao ETF dropping by 4.8%, despite a net subscription of 21 million units, indicating investor confidence in the long-term potential of the sector [1][3]. Group 1: Market Performance - The non-ferrous metal sector faced significant pullback due to a sharp decline in international precious metal prices, with spot gold dropping over 3% [3]. - The Huabao ETF saw a net subscription of 21 million units, reflecting investor confidence despite market volatility [1]. Group 2: Influencing Factors - The decline in precious metal prices is attributed to liquidity issues, with the U.S. leveraged loan index showing increased declines, leading to a stronger dollar that pressures dollar-denominated metals [3]. - Macro factors include former President Trump's comments advocating for interest rate cuts by the Federal Reserve, which could influence market sentiment positively [3]. - Industry actions, such as major mining companies like Luoyang Molybdenum and Zijin Mining acquiring gold mines, indicate strong capital investment in the sector [3]. Group 3: Future Outlook - Institutions like Guosheng Securities predict that the combination of supply-demand mismatch, macroeconomic easing, and industrial upgrades will sustain high profitability in the non-ferrous metal sector for the next 3-5 years [4]. - Despite the bullish outlook, caution is advised regarding potential profit-taking by speculative funds, which may increase market volatility [4].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03993 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 3,933,468,000 | RMB | | 0.2 RMB | | 786,693,600 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 3,933,468,000 | RMB | | 0.2 RMB | | 786,693,600 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | ...

2月5日，黄金概念股走势低迷，呈现持续跳水态势。其中，白银有色、湖南黄金、湖南白银、四川黄金 股价触及跌停，晓程科技跌幅超10%，盛达资源、洛阳钼业等亦同步下跌。（央广财经） ...

Core Viewpoint - Luoyang Molybdenum's performance in 2025 is expected to reach a historical high, marking four consecutive years of record-breaking results, driven by increased production, rising prices, and decreased operational costs [4][8]. Financial Performance - The forecast for 2025 indicates a net profit attributable to shareholders of 20 billion to 20.8 billion, representing a year-on-year growth of 47.8% to 53.71%. The non-recurring net profit is projected to be 20.4 billion to 21.2 billion, an increase of 55.50% to 61.60% [4]. - As of February 3, 2026, the market capitalization of Luoyang Molybdenum approached 500 billion, with a static valuation of 25 times earnings [6]. Production and Sales - In the first three quarters of 2025, the production of copper reached 543,376 tons, a year-on-year increase of 14.14%, while cobalt production was 88,000 tons, up 3.84% [11][12]. - The company exceeded its production guidance for all major products, including copper, cobalt, molybdenum, tungsten, niobium, and phosphate fertilizers [8][9]. Price Dynamics - The price of copper saw a significant increase, with LME copper prices rising by 39.3% to 42.34%, continuing to rise into 2026 [13][15]. - Key drivers for the price increase include tight copper supply due to the reduction of several large copper mines, regional supply-demand imbalances from the U.S. copper 232 investigation, and increased demand from the renewable energy sector [15]. Cost Management - Despite a 2.36% year-on-year decline in revenue, the non-recurring net profit grew by 98%, primarily due to a 13.2% reduction in operating costs compared to the previous year [16]. - The decrease in revenue was largely attributed to a decline in low-margin mineral trading income, while higher-margin mining income increased by 25.6% [17]. Revenue Growth by Product - Revenue from copper and cobalt increased by 29.1%, tungsten and molybdenum revenue grew by 4.7%, and niobium and phosphate revenue rose by 25.1% [19]. Strategic Acquisitions - Luoyang Molybdenum has expanded its gold resource reserves through acquisitions, including the purchase of the Cangrejos gold mine in Ecuador for 580 million CAD (approximately 3 billion RMB) and a deal for 100% equity in several gold mines in Brazil for 1.015 billion USD, which includes significant gold resources [22][23].

Core Viewpoint - The data indicates significant outflows of capital from various stocks, with notable losses in both percentage and monetary terms across multiple sectors, particularly in metals, communication equipment, and renewable energy [1][2][3] Group 1: Stock Performance and Capital Outflow - Zijin Mining experienced a capital outflow of 2.275 billion, with a decline of 4.37% [2] - Xinyi Technology saw an outflow of 1.816 billion, with a decrease of 4.06% [2] - Aerospace Development had a capital outflow of 1.691 billion, reflecting a drop of 1.54% [2] - TBEA reported an outflow of 1.553 billion, with a decline of 5.05% [2] - Goldwind Technology faced a capital outflow of 1.217 billion, down by 9.02% [2] - Luoyang Molybdenum experienced an outflow of 1.203 billion, with a decrease of 6.34% [2] - BlueFocus Media saw an outflow of 1.145 billion, down by 5.76% [2] - Longi Green Energy had a capital outflow of 1.106 billion, with a decline of 5.59% [2] - Zhongjin Gold experienced an outflow of 1.033 billion, down by 5.20% [2] - Shanzhi High-Tech saw an outflow of 0.975 billion, with a decrease of 6.23% [2] - Sungrow Power Supply experienced an outflow of 0.963 billion, down by 4.12% [2] Group 2: Additional Stocks and Their Performance - Xinyi Silver experienced a capital outflow of 0.850 billion, with a decline of 6.33% [3] - China Western Power saw an outflow of 0.833 billion, down by 7.14% [3] - Inovance Technology had a capital outflow of 0.811 billion, with a decrease of 6.62% [3] - Sanhua Intelligent Control experienced an outflow of 0.806 billion, down by 3.04% [3] - TCL Zhonghuan saw an outflow of 0.781 billion, with a slight increase of 1.61% [3] - Jiangxi Copper experienced a capital outflow of 0.707 billion, down by 5.10% [3] - Shandong Gold saw an outflow of 0.683 billion, with a decline of 3.92% [3] - SMIC experienced a capital outflow of 0.676 billion, down by 2.65% [3] - Jiejia Weichuang faced an outflow of 0.626 billion, with a significant drop of 12.39% [3]

白银有色、湖南黄金、湖南白银、四川黄金触及跌停，晓程科技跌超10%，盛达资源、洛阳钼业跟跌。 (本文来自第一财经) 白银有色、湖南黄金、湖南白银、四川黄金触及跌停，晓程科技跌超10%，盛达资源、洛阳钼业跟跌。 (本文来自第一财经) ...