证券之星消息，截至2025年11月18日收盘，山金国际(000975)报收于20.09元，下跌2.05%，换手率1.03%，成交量26.09万手，成交额5.26亿元。 11月18日的资金流向数据方面，主力资金净流出6504.69万元，占总成交额12.36%，游资资金净流入665.34万元，占总成交额1.26%，散户资金净 流入5839.36万元，占总成交额11.1%。 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净点比 散户净流入 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-11-18 | 20.09 | -2.05% | -6504.69万 | -12.36% | 665.34万 | 1.26% | 5839.36万 | - 11.10% | | 2025-11-17 | 20.51 | -1.44% | -2385.26万 | -4.73% | -1080.61万 | -2.14% | 3465.87万 | 6.88% | | 2025-1 ...

11月18日，山金国际盘中下跌2.05%，截至13:28，报20.09元/股，成交2.42亿元，换手率0.47%，总市值 557.84亿元。 分红方面，山金国际A股上市后累计派现59.82亿元。近三年，累计派现25.68亿元。 资金流向方面，主力资金净流出4088.67万元，特大单买入687.86万元，占比2.84%，卖出1952.33万元， 占比8.07%；大单买入4134.87万元，占比17.09%，卖出6959.08万元，占比28.76%。 机构持仓方面，截止2025年9月30日，山金国际十大流通股东中，香港中央结算有限公司位居第三大流 通股东，持股7641.62万股，相比上期增加920.06万股。华泰柏瑞沪深300ETF（510300）位居第七大流 通股东，持股2826.66万股，相比上期减少144.21万股。黄金股ETF（517520）位居第八大流通股东，持 股2737.16万股，为新进股东。易方达沪深300ETF（510310）位居第十大流通股东，持股2050.48万股， 相比上期减少65.02万股。国泰双利债券A（020019）退出十大流通股东之列。 山金国际今年以来股价涨33.89%，近5个交 ...

| | 新材 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 300066 | 三川 | -3.15 | 1.97 | 6.98 | 7.02 | -0.56 | 6.76 | -3.72 | | | 智慧 | | | | | | | | | 002714 | 牧原 | 0.80 | 0.33 | 49.58 | 49.85 | -0.55 | 48.85 | -2.01 | | | 股份 | | | | | | | | | 603359 | 东珠 | -1.45 | 1.55 | 8.38 | 8.42 | -0.55 | 8.17 | -2.99 | | | 生态 | | | | | | | | | 300917 | 特发 | -3.71 | 2.18 | 40.36 | 40.58 | -0.54 | 39.18 | -3.45 | | | 服务 | | | | | | | | | 603979 | 金诚 | -1.28 | 0.50 | 64.04 | 64.36 | -0.50 | 61.79 | - ...

编辑丨心一 | 代码 | 名称 | 涨幅 | 现价 | | --- | --- | --- | --- | | 002716 | 湖南白银 | -2.83% | 6.18 | | 002237 | 恒邦股份 | -2.24% | 13.07 | | 600489 | 中金黄金 | -2.08% | 21.20 | | 300139 | 喫程科技 | -2.01% | 23.46 | | 000506 | 招金黄金 | -2.04% | 12.02 | | 001337 | 四川黄金 | -1.87% | 26.77 | | 601069 | 西部黄金 | -1.80% | 26.26 | | 002155 | 湖南黄金 | -1.71% | 21.86 | | 600988 | 赤峰黄金 | -1.34% | 29.56 | | 600547 山东黄金 | | -0.71% | 34.87 | | 000975 山金国际 | | -0.68% | 20.37 | 港股灵宝黄金跌超6%，潼关黄金跌逾4%，紫金黄金国际、中国黄金国际跌近4%，山东黄金、赤峰黄金 跌超2%。 金价方面，现货黄金一度回落至4020美元 ...

Market Overview - The precious metals sector experienced a decline of 1.74% on November 17, with Zhaojin Mining leading the drop [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Individual Stock Performance - Zhaojin Mining (000506) closed at 12.27, down 3.54% with a trading volume of 305,600 shares and a turnover of 375 million yuan [1] - Hunan Silver (002716) closed at 6.37, down 3.48% with a trading volume of 1,081,300 shares and a turnover of 690 million yuan [1] - Western Gold (601069) closed at 26.74, down 2.41% with a trading volume of 143,900 shares and a turnover of 384 million yuan [1] - Other notable declines include Chifeng Jilong Gold Mining (600988) down 2.16% and Shandong Gold (600547) down 1.98% [1] Capital Flow Analysis - The precious metals sector saw a net outflow of 645 million yuan from institutional investors, while retail investors contributed a net inflow of 543 million yuan [1] - The table indicates that Zhaojin Mining had a net outflow of 6.74 million yuan from institutional investors, but a net inflow of 17.59 million yuan from retail investors [2] - Hunan Gold (002155) experienced a significant net outflow of 60.43 million yuan from institutional investors, while retail investors contributed a net inflow of 58.24 million yuan [2]

Core Viewpoint - The stock of Shanjin International has experienced a decline of 2.02% on November 17, with a current price of 20.39 CNY per share, reflecting a market capitalization of 56.617 billion CNY. The company has seen a year-to-date stock price increase of 35.89% but has faced recent declines over various trading periods [1]. Financial Performance - For the period from January to September 2025, Shanjin International reported a revenue of 14.996 billion CNY, representing a year-on-year growth of 24.23%. The net profit attributable to shareholders was 2.460 billion CNY, marking a 42.39% increase compared to the previous year [2]. - The company has distributed a total of 5.982 billion CNY in dividends since its A-share listing, with 2.568 billion CNY distributed over the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Shanjin International increased by 18.50% to 43,700, while the average circulating shares per person decreased by 15.61% to 57,784 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 76.4162 million shares, an increase of 9.2006 million shares from the previous period. Other notable shareholders include Huatai-PB CSI 300 ETF and Gold Stock ETF, with varying changes in their holdings [3]. Market Activity - On November 17, the stock saw a trading volume of 280 million CNY, with a turnover rate of 0.54%. The net outflow of main funds was 2.112 million CNY, with significant buying and selling activity from large orders [1]. - The stock has experienced a decline of 5.16% over the last five trading days and a 10.77% decline over the last 20 days, while showing a 12.34% increase over the last 60 days [1]. Business Overview - Shanjin International, established on June 18, 1999, and listed on June 8, 2000, is primarily engaged in the mining and trading of precious and non-ferrous metals, with gold as its main product. The revenue composition includes copper trading (33.67%), gold (32.30%), silver trading (17.01%), and other metal trades [1]. - The company operates within the non-ferrous metals sector, specifically focusing on precious metals and gold, and is associated with various concept sectors including Shandong State-owned Assets and value growth [2].

Investment Rating - The report maintains an "Overweight" rating for the non-ferrous metals sector [1]. Core Views - The non-ferrous metals sector saw a weekly increase of 1.07% from November 10 to November 14, outperforming the overall market index [14]. - Precious metals, particularly gold, are expected to maintain a bullish outlook in the medium term despite short-term fluctuations due to changing interest rate expectations [4][49]. Summary by Sections Market Review - The Shanghai Composite Index fell by 0.18%, while the non-ferrous metals sector ranked 16th among 31 sectors, outperforming the index by 1.25 percentage points [14]. - Precious metals increased by 2.77%, energy metals by 2.47%, and industrial metals by 1.56%, while small metals and new materials declined by 1.42% and 3.22%, respectively [14]. Industrial Metals - **Copper**: Prices rose with LME copper at $10,846 per ton (up 1.41%) and SHFE copper at ¥86,900 per ton (up 1.12%). Supply remains weak, with Codelco's September production down 7.2% year-on-year [2][31]. - **Aluminum**: LME aluminum reached $2,859 per ton (up 1.41%), driven by increased demand from the electric vehicle sector, where sales exceeded 50% of total new car sales in October [3][35]. - **Zinc**: Prices fell with LME zinc at $3,015 per ton (down 1.70%) and SHFE zinc at ¥22,470 per ton (down 1.30%). Zinc inventories increased, indicating a bearish trend [41]. - **Tin**: LME tin rose to $36,860 per ton (up 2.90%) due to reduced exports from Indonesia, which halved in October [45]. Precious Metals - **Gold**: COMEX gold closed at $4,084.40 per ounce (up 1.91%), while SHFE gold was at ¥953.20 per gram (up 3.47%). The resumption of U.S. government operations alleviated liquidity concerns, boosting prices [4][49]. - The Federal Reserve's hawkish comments and the lack of supporting economic data have led to a decrease in December rate cut expectations from 95% to around 50%, causing some price corrections in precious metals [50]. Inventory Changes - Copper inventories decreased, with LME at 135,700 tons (down 0.13%) and SHFE at 109,400 tons (down 4.89%) [29][34]. - Aluminum inventories increased slightly, with LME at 552,400 tons (up 0.57%) and SHFE at 114,900 tons (up 1.38%) [35].

Core Insights - The stock of Shanjin International (000975) closed at 20.81 yuan on November 14, 2025, down 3.16% with a trading volume of 316,700 hands and a turnover of 667 million yuan [1] Group 1: Financial Performance - For the first three quarters of 2025, Shanjin International reported a main revenue of 14.996 billion yuan, a year-on-year increase of 24.23% [2] - The net profit attributable to shareholders for the same period was 2.46 billion yuan, up 42.39% year-on-year [2] - The company's third-quarter revenue was 5.75 billion yuan, reflecting a 3.3% year-on-year increase, while the net profit for the quarter was 864 million yuan, up 32.43% year-on-year [2] Group 2: Market Position and Ratios - Shanjin International's total market value is 57.784 billion yuan, ranking 4th in the precious metals industry [2] - The company has a price-to-earnings ratio (P/E) of 17.62, which is significantly lower than the industry average of 44.47, ranking 1st in the industry [2] - The return on equity (ROE) stands at 17.87%, compared to the industry average of 12.47%, ranking 3rd in the industry [2] Group 3: Fund Flow and Ratings - On November 14, 2025, the net outflow of main funds was 119 million yuan, accounting for 17.78% of the total turnover, while retail investors saw a net inflow of 32.21 million yuan [1] - Over the past 90 days, 17 institutions have rated the stock, with 14 buy ratings and 3 hold ratings, and the average target price set at 23.56 yuan [3]

证券之星消息，11月14日贵金属板块较上一交易日下跌1.97%，山金国际领跌。当日上证指数报收于3990.49，下跌0.97%。深证成指报收于 13216.03，下跌1.93%。贵金属板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000975 | 山金国际 | 20.81 | -3.16% | 31.67万 | | 6.671Z | | 002716 | 湖南白银 | 6.60 | -2.94% | 145.69万 | | 9.67亿 | | 600988 | 赤峰黄金 | 30.62 | -2.61% | 28.05万 | | 8.67 Z | | 001337 | 四川黄金 | 27.80 | -2.59% | 9.83万 | | 2.75 Z | | 002155 | 湖南黄金 | 22.66 | -2.58% | 49.78万 | | 11.41亿 | | 300139 | 院屋科技 | 24.53 | -2.47% | 26.12万 | | 6. ...

Core Insights - The precious metals sector experienced a significant increase of 2.98% on November 13, with Hunan Silver leading the gains [1] - The Shanghai Composite Index closed at 4029.5, up 0.73%, while the Shenzhen Component Index closed at 13476.52, up 1.78% [1] Precious Metals Sector Performance - Hunan Silver (002716) closed at 6.80, with a rise of 5.59% and a trading volume of 2.3945 million shares, resulting in a turnover of 1.609 billion yuan [1] - Zhaojin Mining (000506) saw a closing price of 12.75, up 4.68%, with a trading volume of 496,300 shares and a turnover of 630 million yuan [1] - Zhongjin Gold (600489) closed at 22.02, increasing by 3.53%, with a trading volume of 999,900 shares and a turnover of 2.195 billion yuan [1] - Other notable performers include Sichuan Gold (001337) at 28.54 (+3.48%), and Chifeng Jilong Gold Mining (600988) at 31.44 (+3.12%) [1] Capital Flow Analysis - The precious metals sector saw a net inflow of 803 million yuan from institutional investors, while retail investors experienced a net outflow of 633 million yuan [1] - Major stocks like Zhongjin Gold and Shandong Gold (600547) had significant net inflows of 224 million yuan and 166 million yuan respectively from institutional investors [2] - Hunan Silver had a net inflow of 151 million yuan from institutional investors, despite a net outflow of 180 million yuan from retail investors [2]