Core Viewpoint - The accident at Dongsheng Mining, a subsidiary of Shengda Resources, resulted in the tragic death of a worker due to a rockfall incident during construction activities [1][2] Group 1: Accident Details - The accident occurred on September 11, 2025, when a rockfall happened in a previously supported tunnel, approximately 7 meters from the construction site [1] - The incident involved a worker from Zhejiang Zhongye Construction Group who was struck by falling rock and unfortunately succumbed to injuries despite rescue efforts [1] Group 2: Company Response - Dongsheng Mining activated its emergency response plan immediately after the accident, organizing rescue and recovery operations while reporting to local emergency management authorities [2] - The company expressed deep condolences for the deceased and extended sincere sympathies to the victim's family [2] - Operations at Dongsheng Mining have been temporarily halted, and the company is committed to cooperating with investigations and enhancing safety training to prevent future incidents [2] Group 3: Company Background - Dongsheng Mining is involved in the extraction of various minerals, including silver, lead, zinc, gold, gallium, arsenic, and iron sulfide, with an annual production capacity of 250,000 tons [2] - The company is currently engaged in construction work for the mine, which has not yet commenced production [2]

Core Viewpoint - The accident at Dongsheng Mining, a subsidiary of Shengda Resources, resulted in the tragic death of a worker due to a rockfall incident during construction activities [1][2] Group 1: Accident Details - The accident occurred on September 11, 2025, when a rockfall happened in a previously supported tunnel, approximately 7 meters from the construction site [1] - The incident involved a worker from Zhejiang Zhongye Construction Group who was struck by falling rock and unfortunately succumbed to injuries despite rescue efforts [1] Group 2: Company Response - Dongsheng Mining activated its emergency response plan immediately after the accident, organizing rescue and recovery operations while reporting to local emergency management authorities [2] - The company expressed deep condolences for the deceased and extended sincere sympathies to the victim's family [2] - Operations at Dongsheng Mining have been temporarily halted, and the company is committed to cooperating with the investigation and enhancing safety training and inspections to prevent future incidents [2] Group 3: Company Background - Dongsheng Mining is involved in the extraction of various minerals, including silver, lead, zinc, gold, gallium, arsenic, and iron sulfide, with an annual production capacity of 250,000 tons [2] - The company is currently engaged in construction work for the mine, which has not yet commenced production [2]

一、基本情况 2025 年 9 月 11 日，盛达金属资源股份有限公司（以下简称"公司"）二级 子公司克什克腾旗东晟矿业有限责任公司（以下简称"东晟矿业"）矿山建设承 包商浙江中冶建设集团有限公司（以下简称"浙江中冶"）项目部凿岩工在去往 作业地点途中，已支护的巷道顶板发生一起顶板冒落事故。经初步调查，该起事 故系北风井 1150 中段 20 线前主运巷道距施工作业面 7 米左右处，采用 5 根锚杆 支护的巷道右壁顶部局部块状岩石突然脱落，经过巷道右侧的 1 名浙江中冶项目 部凿岩工被砸中，经全力抢救后不幸遇难。 事故发生后，东晟矿业立即启动应急预案，开展紧急救援，全力组织抢险、 搜救、清理和善后工作，按相关规定与程序向当地应急管理部门报告。事故具体 原因尚待进一步调查，公司将全力配合做好事故调查及后续工作。按照有关规定， 东晟矿业井下暂时停工，善后及相关工作正在有序进行。 证券代码：000603 证券简称：盛达资源 公告编号：2025-052 盛达金属资源股份有限公司 关于子公司在建矿山发生安全事故的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 公司 ...

Group 1 - The core viewpoint of the news is that Shengda Resources has seen a significant increase in its stock price, rising by 5.34% to reach 20.71 CNY per share, with a trading volume of 357 million CNY and a turnover rate of 2.65%, resulting in a total market capitalization of 14.289 billion CNY [1] - Shengda Resources is primarily engaged in the production and sale of silver-lead concentrate and zinc concentrate, with its main business revenue composition being: lead concentrate (including silver) 46.04%, non-ferrous metal trading 23.91%, zinc concentrate (including silver) 20.44%, renewable energy metals 5.26%, silver ingots 2.28%, others 1.05%, and gold 1.02% [1] Group 2 - From the perspective of major fund holdings, data shows that one fund under Dacheng Fund has a significant position in Shengda Resources, specifically the Dacheng Positive Return Flexible Allocation Mixed A Fund (001365), which held 141,200 shares in the second quarter, accounting for 3.91% of the fund's net value, ranking as the tenth largest holding [2] - The Dacheng Positive Return Flexible Allocation Mixed A Fund (001365) has a total scale of 53.5249 million CNY and has achieved a year-to-date return of 24.92%, ranking 3415 out of 8174 in its category, with a one-year return of 33.74%, ranking 4755 out of 7981 [2]

Market Overview - The A-share market experienced slight fluctuations, with the Shanghai Composite Index closing down by 0.12%, the Shenzhen Component Index down by 0.43%, and the ChiNext Index down by 1.09% [5] - A total of 1,926 stocks rose, while 3,373 stocks fell, indicating a challenging market environment [6] Stock Performance - The total trading volume reached 25,483.12 billion, with a total of 5,429 stocks traded [7] - Notable sectors included the storage chip sector, which saw significant gains, with companies like Jingzhida and Demingli hitting the daily limit [8] - The storage product prices are expected to rise by 20% to 30%, following a previous announcement of a 10% increase by SanDisk [8] Sector Highlights - The non-ferrous metals sector showed strength, with companies like Northern Copper and Shengda Resources also hitting the daily limit [10] - Real estate stocks saw a surge, with Rongsheng Development and Huaxia Happiness reaching their daily limit [12] Financial Sector - The financial sector faced declines, with major banks like Pudong Development Bank and China Merchants Bank seeing drops of over 3% [13][12] - Securities firms also experienced downturns, with Guohai Securities and Dongfang Securities both declining [14] Hong Kong Market - The Hong Kong stock market saw a rise, with major indices increasing by over 1% [15] - Alibaba's stock surged by 5.37%, attributed to the introduction of self-developed chips for AI model training [16] - Evergrande Property experienced a significant increase of over 23% due to potential acquisition interest [16] Notable Company Developments - Yaojie Ankang's stock price skyrocketed by over 120% following the announcement of clinical trial approval for its core product [19]

Market Overview - The Shanghai Composite Index experienced a high and then retreated, while the ChiNext Index fell over 1%. The storage chip sector saw a significant rise, with companies like Jingzhida and Demingli hitting the daily limit. The non-ferrous metals sector also performed well, with Northern Copper and Shengda Resources reaching their limits. Real estate stocks saw intraday gains, with companies like Rongsheng Development and Huaxia Happiness hitting the daily limit. Conversely, financial stocks such as banks and brokerages declined, with Pudong Development Bank dropping over 3%. Overall, more than 3,300 stocks in the Shanghai, Shenzhen, and Beijing markets were in the red, with a total transaction volume of 2.55 trillion yuan [1]. Daily Highlights Flash Memory - The flash memory concept surged today, with Demingli and Jingzhida hitting the daily limit, and companies like Xiangnong Xinchuan and Zhaoyi Innovation also reaching their limits. Major US storage leaders like Micron and SanDisk saw significant gains overnight. SanDisk announced a 10% price increase for all channels and consumer products, with expectations of further price adjustments in the coming quarters. This price hike is attributed to a shift in supply-demand dynamics, with a potential widening supply gap [4][5]. - Demand for storage is being driven by AI applications and strong demand in data centers, client devices, and mobile sectors. On the supply side, the industry faces tightening conditions, with NAND producers shifting production to next-generation nodes, leading to a shortage of low-density chips. Some suppliers are also struggling to expand production due to financial difficulties. The establishment of Changjiang Storage's third phase project is seen as a significant step towards breaking the monopoly of Samsung and SK Hynix in the NAND market, which could enhance the growth of domestic semiconductor equipment and materials [6]. Non-Ferrous Metals - The non-ferrous metals sector saw a strong performance, with companies like Jushen Co. and Northern Copper hitting their limits. The market anticipates a 89% probability of a 25 basis point rate cut by the Federal Reserve in September, with expectations of a total of three rate cuts this year. This environment of liquidity easing is expected to benefit industrial metal prices [7][9][10]. - The domestic manufacturing PMI slightly improved to 49.4% in August, indicating a marginal recovery in economic activity. As the traditional peak season approaches, downstream processing enterprises are increasing their operating rates, while supply-side factors such as maintenance at smelting plants may lead to a decrease in production, potentially accelerating the destocking of industrial metals [9]. Film and Entertainment - The film and entertainment sector showed strength today, with companies like Jinyi Film and China Film hitting their limits. As of September 12, a total of 10 films have been scheduled for release during the 2025 National Day holiday, indicating a robust pipeline for the industry [11][12].

Group 1 - The industrial metal sector increased by 2.83% on September 12, with Electric Alloy leading the gains [1] - The Shanghai Composite Index closed at 3883.69, up 0.22%, while the Shenzhen Component Index closed at 12996.38, up 0.13% [1] - Key stocks in the industrial metal sector showed significant price increases, with Electric Alloy rising by 17.29% and trading volume of 726,500 shares [1] Group 2 - The industrial metal sector saw a net inflow of 826 million yuan from main funds, while retail investors experienced a net outflow of 165 million yuan [2] - The stock of Northern Copper had a net inflow of 495 million yuan from main funds, representing 33.40% of its total trading [3] - Electric Alloy experienced a net outflow of 112 million yuan from speculative funds, indicating a shift in investor sentiment [3]

Group 1 - The non-ferrous metal sector showed strong performance on the 12th, with several stocks hitting the daily limit, including Electric Alloy (300697) up 20%, New Weiling up over 15%, and others like Shengda Resources (000603) and Yunnan Copper (000878) also seeing significant gains [1] - Institutions indicate that expectations for a Federal Reserve interest rate cut have risen, combined with the seasonal demand boost in September and October, providing strong upward momentum for industrial metal prices [1] - Zhongyou Securities noted that despite a recent decline in LME copper prices and weaker-than-expected U.S. non-farm payrolls, the overall economic data suggests a higher likelihood of a soft landing rather than a recession, which could support copper prices [1] Group 2 - Minsheng Securities highlighted that recent weak employment data in the U.S. and inflation aligning with expectations have bolstered market confidence in a potential interest rate cut by the Federal Reserve in September, positively impacting gold and silver prices [1] - The legal and economic uncertainties stemming from the Trump tariff case are expected to increase safe-haven demand, providing support for gold prices, while silver prices are reaching new highs due to its industrial properties and upward momentum [1] - In the medium to long term, central bank gold purchases and weakening U.S. dollar credit are seen as key trends, with a continued positive outlook for gold prices and opportunities for positioning in the gold sector [1]

Group 1 - The core viewpoint of the articles indicates a significant rise in copper-related stocks and prices, driven by expectations of a Federal Reserve interest rate cut and strong demand in various sectors [2][3][5] - On September 12, copper futures surged to 80,880 yuan/ton, reflecting a broader increase in commodity prices [3] - Analysts suggest that recent economic data has paved the way for a potential interest rate cut by the Federal Reserve, which could positively impact commodity prices [4][5] Group 2 - The copper supply side is facing challenges, with slow capacity release and increased supply pressure from overseas disruptions, leading to a structural imbalance in supply and demand [6] - Short-term demand for copper is expected to be strong due to the upcoming "golden September and silver October," with robust needs from the new energy and power sectors, as well as a gradual recovery in real estate and traditional consumption [7] - Long-term demand for copper is projected to grow significantly, with estimates suggesting an additional demand of at least 10 million tons by 2035 driven by electric vehicles, AI, and power infrastructure [7][8] Group 3 - The rapid development of AI technology is increasing the demand for copper, particularly in data centers, which are expected to consume between 200,000 to 500,000 tons of copper annually by 2027, representing a compound annual growth rate of 26% [8] - The rise of data centers and AI is anticipated to contribute an additional 3% to global copper demand by 2027, while electric vehicles are expected to account for only 5.2% [8] - Geopolitical tensions are also driving demand for copper in defense spending, as various military applications require significant amounts of copper [8] Group 4 - Market analysts believe that the current copper price uptrend is just beginning, with multiple factors contributing to a potential long-term revaluation of copper [9] - Institutions like New Lake Futures and Minsheng Securities highlight that the combination of macroeconomic data supporting a Fed rate cut, ongoing supply tightness, and resilient demand will likely keep copper prices on an upward trajectory [9]

Market Overview - A-shares exhibited mixed performance on September 12, with major indices showing some divergence, particularly the strong performance of the Sci-Tech 50 Index and the China Securities A500 Index reaching a new high during the session [1][4] - The Shanghai Composite Index experienced fluctuations, reaching a recent 10-year high, while the Sci-Tech 50 Index saw an intraday increase of over 2%, and the ChiNext Index declined with a drop exceeding 1% [5] Sector Performance - The non-ferrous metals sector surged, with silver prices rising and Shanghai silver futures breaking the 10,000 yuan per kilogram mark [2][6] - The non-ferrous metals sector led the gains, with an intraday increase of over 2%, and several stocks, including Electric Alloy and Shengda Resources, hitting the daily limit [6][7] - Other sectors such as steel, real estate, and construction decoration also showed strong performance [8] Hong Kong Market - The Hong Kong market continued its upward trend, with the Hang Seng Index reaching a new high for the year [3][10] - Notable stocks in the Hang Seng Index included Baidu Group and Alibaba, which saw intraday increases of over 12% and 7%, respectively [10] - The stock of Nocoda Technology experienced a significant surge, with an intraday increase exceeding 50% following the announcement of a strategic partnership in the drone AI sector [11][12] Company Developments - Nocoda Technology announced a strategic cooperation with AlphaAI to develop drone AI technology and low-altitude economic infrastructure solutions, aiming to leverage both companies' strengths for market expansion [11][12] - The "Giant Dog," a product of collaboration between Giant Star Legend and Yushu Technology, is set to debut at the Shanghai Tourism Festival, showcasing a blend of celebrity IP, trendy toys, and technology [16]