Core Viewpoint - The A-share market experienced a strong upward trend on September 29, with all three major indices rising collectively, indicating positive market sentiment and sector performance [2] Market Performance - The Shanghai Composite Index rose by 0.90%, the Shenzhen Component Index increased by 2.05%, and the ChiNext Index surged by 2.74% [2] - Key sectors leading the gains included energy metals, securities, and battery sectors, all of which saw increases exceeding 4% [2] Sector Highlights - The energy metals sector (881267.TI) rose by 4.92%, with several stocks hitting the daily limit, including Boqian New Materials [2] - Notable performers in the energy metals sector included Ganfeng Lithium, Yuanhang Precision, Hanrui Cobalt, Huayou Cobalt, and Tengyuan Cobalt, all of which increased by over 5% [2] - Other stocks such as Yongxing Materials, Rongjie Shares, and Yongshan Lithium also experienced significant gains [2] Policy Impact - On September 28, the Ministry of Industry and Information Technology and seven other departments jointly issued the "Nonferrous Metals Industry Stabilization Growth Work Plan (2025-2026)" [2] - The plan aims for an average annual growth of around 5% in the added value of the nonferrous metals industry from 2025 to 2026, with a positive economic outlook [2] - It also targets an average annual growth of approximately 1.5% in the production of ten types of nonferrous metals [2]

Core Insights - The energy metals sector experienced a significant increase of 4.85% on September 29, with Boqian New Materials leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Sector Performance - Boqian New Materials (605376) saw a closing price of 59.49, with a rise of 10.00% and a trading volume of 18,400 lots, amounting to 110 million yuan [1] - Ganfeng Lithium (002460) closed at 58.50, up 7.83%, with a trading volume of 1,189,500 lots and a transaction value of 6.772 billion yuan [1] - Other notable performers included: - Sai Rui Aluminum (300618) at 53.24, up 5.78% [1] - Huayou Cobalt (603799) at 60.25, up 5.46% [1] - Tengyuan Diamond (301219) at 72.27, up 5.20% [1] Capital Flow - The energy metals sector saw a net inflow of 1.344 billion yuan from main funds, while retail funds experienced a net outflow of 828 million yuan [1] - Ganfeng Lithium had a main fund net inflow of 5.42 billion yuan, but retail funds saw a net outflow of 2.96 billion yuan [2] - Huayou Cobalt also reported a main fund net inflow of 4.97 billion yuan, with retail funds experiencing a net outflow of 4.53 billion yuan [2]

Core Viewpoint - 博迁新材 has signed a strategic cooperation agreement with Company X, projecting sales of 5420 to 6495 tons of nickel powder from August 2025 to December 2029, with estimated sales revenue of approximately 43 to 50 billion yuan [1] Company Summary - 博迁新材 was established in November 2010 and went public in December 2020, focusing on the R&D, production, and sales of high-end metal powder materials for electronics [1] - The company’s main products include nano and sub-micron nickel powder, copper powder, and silver powder, with nickel powder primarily used in the production of MLCCs and applications in consumer electronics and automotive electronics [1] Financial Performance - In 2024, 博迁新材 achieved operating revenue of 945 million yuan, a year-on-year increase of 37.22%, and a net profit attributable to shareholders of 87.48 million yuan, marking a return to profitability [1] - Nickel-based product revenue in 2024 was 685 million yuan, up 36.85%, with a gross margin increase of 6 percentage points to 24.36% [2] - Copper-based product revenue grew by 56.35% to 122 million yuan, with a gross margin increase of 3.53 percentage points to 18.63% [2] - Export revenue reached 574 million yuan in 2024, a 50.27% increase, with a gross margin of 30.26% [2] - Domestic sales revenue was 284 million yuan, up 26.35% [2] - In the first half of 2025, 博迁新材 reported operating revenue of 519 million yuan, an 18.30% year-on-year increase, and a net profit of 106 million yuan, a significant growth of 93.34% [2] Industry Insights - The performance of 博迁新材 is closely linked to the demand for MLCCs, with the MLCC industry entering a new growth cycle after hitting bottom in 2023 [3] - The global MLCC market is projected to grow by 7% year-on-year to 104.2 billion yuan in 2024, with expectations to reach 112 billion yuan in 2025 [3] - 博迁新材 is expected to benefit from the domestic substitution trend in high-end nickel powder, supported by its advantages in PVD technology and increasing shipment ratios of 80nm products [3]

（文章来源：新京报） 新京报贝壳财经讯 9月28日，博迁新材发布公告称，公司及子公司广新进出口与某公司（下称"X公 司"）签署《战略合作协议书》，约定自2025年8月起至2029年12月31日期间，预计向X公司销售5420— 6495吨镍粉产品。按照预计数量、公司目前产品售价及汇率估算，销售金额约43亿元至50亿元。 ...

Core Viewpoint - The recent surge in the non-ferrous metal sector is driven by a significant policy announcement aimed at stabilizing growth in the industry, leading to a notable increase in stock prices for related companies in both Hong Kong and A-shares markets [3][4]. Group 1: Market Performance - In the Hong Kong stock market, several non-ferrous metal companies saw substantial gains, including Zijin Mining (+5.60%), Ganfeng Lithium (+5.37%), and China Aluminum International (+5.29%) [1]. - A-shares also experienced a positive trend, with companies like Yicheng New Energy and Boqian New Materials hitting the daily limit up, and Hengdian East Magnetic rising by 6.16% [2]. Group 2: Policy Impact - The Ministry of Industry and Information Technology, along with eight other departments, released the "Non-Ferrous Metal Industry Stabilization Growth Work Plan (2025-2026)", projecting an average annual growth of around 5% in the industry's added value and a 1.5% increase in the production of ten major non-ferrous metals [3]. - The plan addresses current challenges in the industry, proposing ten initiatives focused on resource security, supply optimization, transformation promotion, consumption expansion, and strengthening cooperation [3]. Group 3: Industry Outlook - The non-ferrous metal industry is showing strong performance, with a reported 7.8% year-on-year increase in the added value of large-scale non-ferrous metal industries from January to August 2025, outpacing the overall industrial growth [3]. - Analysts from various institutions express optimism about the sector's future, citing factors such as potential interest rate cuts by the Federal Reserve and seasonal demand increases in the aluminum and lithium markets [5].

Market Performance - A-shares market showed overall gains with major indices performing differently, particularly the ChiNext index which was strong, reflecting a robust performance in the new energy sector [1][4][3] - Over 3000 stocks in the A-share market were in the green, with the Shanghai Composite Index rising by 0.13%, Shenzhen Component Index increasing by over 1%, and ChiNext Index reaching a peak gain of over 2.8% before narrowing [4][5] Sector Performance - The power equipment sector led the gains, with a rise of over 3%, featuring stocks like Yicheng New Energy and Wanrun New Energy hitting the daily limit up [4][6] - Non-bank financials also saw gains exceeding 2%, with several brokerage stocks experiencing significant increases, including Guosheng Financial Holdings hitting the daily limit up [7][8] - Other sectors such as machinery, communications, steel, and environmental protection showed strong performance, while coal, oil and petrochemicals, and agriculture sectors lagged [9] Futures Market - Domestic silver futures surged over 4%, reaching a new historical high, while gold futures also saw significant increases, with the main contract surpassing 865 yuan per gram [2][15][14] Hong Kong Market - The Hong Kong market exhibited strength, with the Hang Seng Index rising over 1.6% and the Hang Seng Tech Index increasing by over 2%, driven by stocks like New Oriental and Sands China [11][12]

Group 1 - The A-share market saw a strong performance in the non-ferrous metal sector on September 29, with several stocks hitting the daily limit, including Boqian New Materials and Vanadium Titanium Co., which both reached a 10% increase [1][2] - The overall market showed positive momentum, with the Shanghai Composite Index rising by 0.13%, the Shenzhen Component Index by 1.11%, and the ChiNext Index by 1.77% [2] - The trading volume in the Shanghai and Shenzhen markets was 12.937 trillion yuan, a decrease of 880 billion yuan compared to the previous day, with over 3,000 stocks in the market experiencing gains [2] Group 2 - Boqian New Materials (stock code: 605376) is a leading global supplier of high-end metal powder materials, focusing on the research, production, and sales of nano and sub-micron nickel and copper powders [4] - Nickel powder is a core product for Boqian, playing a crucial role in the internal electrode materials of MLCCs (Multi-layer Ceramic Capacitors), with significant demand driven by the electronics and automotive sectors [4] - The company has a strategic cooperation agreement with Company X to supply between 5,420 tons and 6,495 tons of nickel powder from August 2025 to December 2029, estimated to be worth between 4.3 billion yuan and 5 billion yuan at current prices [4]

Group 1 - The Shanghai Composite Index closed at 3832.90 points, below the five-day moving average, with a change of 0.13% [1] - The total trading volume of A-shares reached 1,293.742 billion yuan [1] - A total of 985 A-shares have prices that broke through the five-day moving average, with notable stocks including Changhua Chemical, Guanzhong Ecology, and Kaiwang Technology, which have deviation rates of 13.62%, 13.44%, and 10.09% respectively [1] Group 2 - The top three stocks with the highest deviation rates from the five-day moving average are: - Changhua Chemical (20.01% increase, 13.62% deviation) - Guanzhong Ecology (20.00% increase, 13.44% deviation) - Kaiwang Technology (14.25% increase, 10.09% deviation) [2] - Other notable stocks with significant increases include: - Liwang Co. (12.43% increase, 8.69% deviation) - Heshun Electric (10.22% increase, 8.27% deviation) - Ailuo Energy (12.16% increase, 8.00% deviation) [2] - The trading volume and price changes of these stocks indicate strong market interest and potential investment opportunities [2][3]

| 农林牧渔 | | | | ST景谷 | | | --- | --- | --- | --- | --- | --- | | 医药生物 | -0.84 | 382.92 | -24.22 | 康众医疗 | -6.73 | | 银行 | -1.29 | 109.09 | -5.35 | 浦发银行 | -2.20 | | 煤炭 | -1.43 | 46.75 | 5.72 | 江钨装备 | -5.73 | （文章来源：证券时报网） 证券时报·数据宝统计，截至上午10:28，今日沪指涨0.09%，A股成交量554.08亿股，成交金额9328.57亿 元，比上一个交易日减少13.67%。个股方面，3231只个股上涨，其中涨停47只，2002只个股下跌，其 中跌停6只。从申万行业来看，电力设备、有色金属、综合等涨幅最大，涨幅分别为3.33%、1.98%、 1.42%；煤炭、银行、医药生物等跌幅最大，跌幅分别为1.43%、1.29%、0.84%。（数据宝） 今日各行业表现（截至上午10:28） | 申万行业 | 行业涨跌（%） | 成交额（亿元） | 比上日（%） | 领涨（跌）股 | 涨跌幅（%） | | --- | ...

9月29日，江苏博迁新材料股份有限公司（以下简称"博迁新材"）及子公司宁波广新进出口有限公司（以下简称"广新进出口"）与 某公司（以下简称"X公司"）签署了《战略合作协议书》。根据协议，博迁新材及广新进出口自2025年8月起至2029年12月31日间 预计向X公司销售5420~6495吨符合双方约定规格的镍粉产品。如按照预计数量、公司目前产品售价及汇率估算，协议销售金额约 为43亿~50亿元。 博迁新材需确保生产的产品质量符合X公司要求的产品规格，各方已就产品质量共同确认产品规格标准。如产品未能达到上述标 准，相关产品将予以更换或维修。本次合作期限自2025年9月1日起至2029年12月31日止。合作期间，若发生的人力不可抗拒且不 可克服的事故如战争、自然灾害等致使交货延期或不能交货，双方都对此不负责任。受影响方应在上述事故发生后立即电告另一 方，并在双方同意后顺延相应交货时间。如不可抗力情形持续超过30天的，受影响的一方有权利取消本合同包括采购订单。 协议的签署及履行均适用《联合国国际货物销售合同公约》，该公约未约定的，适用新加坡法律。凡因本协议引起或与本协议有 关的任何争议，由双方友好协商解决，协商不成的 ...