Group 1: Stock Performance - Zijin Mining's stock price has reached a historical high, with 10 trading days in the past month setting new records [2] - As of 09:34, the stock is up 1.15% at 24.66 yuan, with a trading volume of 45.79 million shares and a transaction value of 1.13 billion yuan [2] - The latest total market capitalization of the stock is 507.72 billion yuan, with a circulating market value of 507.70 billion yuan [2] Group 2: Industry Overview - The overall increase in the non-ferrous metals industry is 0.09%, with 46 stocks rising, including notable gains from Silver Industry, Western Gold, and Hunan Silver, which rose by 10.08%, 10.00%, and 6.11% respectively [2] - Conversely, 93 stocks in the industry have declined, with Yunnan Germanium, Haixing Co., and Hesheng Co. showing the largest drops of 4.03%, 3.87%, and 3.69% respectively [2] Group 3: Financial Performance - In the first half of the year, the company achieved operating revenue of 167.71 billion yuan, a year-on-year increase of 11.50% [3] - The net profit for the same period was 23.29 billion yuan, reflecting a year-on-year growth of 54.41% [3] - The basic earnings per share were 0.8770 yuan, with a weighted average return on equity of 16.11% [3] Group 4: Margin Trading Data - As of September 1, the margin trading balance for Zijin Mining was 4.33 billion yuan, with a financing balance of 4.29 billion yuan, which increased by 1.03 billion yuan over the past 10 days, representing a growth of 31.68% [2] Group 5: Analyst Ratings - In the past 10 days, 9 institutions have rated the stock, with the highest target price set by CICC at 29.00 yuan as of August 29 [2]

Summary of Key Points Core Viewpoint - Zijin Mining experienced significant trading activity on September 1, with a total of 692,600 shares traded on the block trading platform, amounting to 16.8856 million yuan, with a consistent trading price of 24.38 yuan per share [2]. Trading Activity - In the last three months, Zijin Mining has recorded a total of 49 block trades, with a cumulative transaction value of 1.122 billion yuan [2]. - On September 1, the closing price for Zijin Mining was 24.38 yuan, reflecting an increase of 5.63% for the day, with a turnover rate of 1.83% and a total trading volume of 9.088 billion yuan [2]. - The net outflow of main funds for the day was 210 million yuan, while the stock has seen a cumulative increase of 9.77% over the past five days, with a total net outflow of 900 million yuan during the same period [2]. Margin Financing - The latest margin financing balance for Zijin Mining stands at 3.35 billion yuan, showing a decrease of 26.7726 million yuan over the past five days, which is a decline of 0.79% [2]. Institutional Ratings - In the past five days, nine institutions have provided ratings for Zijin Mining, with the highest target price estimated by China International Capital Corporation (CICC) at 29.00 yuan, as reported on August 29 [2].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expectation that the stock will outperform the market index by more than 15% in the next six months [6]. Core Insights - The company, Zijin Mining (601899.SH), reported a significant increase in both revenue and profit for the first half of 2025, with total revenue reaching 167.71 billion yuan, a year-on-year growth of 11.50%, and a net profit attributable to shareholders of 23.29 billion yuan, up 54.41% year-on-year [2][4]. - The company's operational performance in Q2 2025 showed a revenue of 88.78 billion yuan, reflecting a year-on-year increase of 17.38% and a quarter-on-quarter increase of 12.49%. The net profit for the same quarter was 13.13 billion yuan, up 48.75% year-on-year [4]. - Zijin Mining's production of key minerals increased, with copper production at 570,000 tons (up 9% year-on-year), gold at 41 tons (up 16%), and silver at 224 tons (up 6%) [4]. Summary by Sections Financial Performance - For the first half of 2025, the company achieved a gross margin of 23.75%, an increase of 4.6 percentage points year-on-year, and a net margin of 17.08%, up 4.8 percentage points year-on-year [4]. - The overall gross margin for mineral products increased by 3 percentage points to 60.23% due to rising production and price optimization [4]. Resource Development - The company has strengthened its resource base through exploration and acquisitions, adding 2.049 million tons of copper resources and 888 tons of gold resources in the first half of 2025 [4]. - Significant exploration results were reported, including the discovery of 1.33 million tons of copper and 90,000 tons of molybdenum in Fujian, marking the largest discovery in the region in 20 years [4]. Future Outlook - The company is expected to continue its growth momentum, with projected earnings per share of 1.70 yuan and 1.98 yuan for 2025 and 2026, respectively, corresponding to price-to-earnings ratios of 13.60 and 11.64 times based on the closing price on August 29 [5].

Core Viewpoint - The report from CICC indicates that Zijin Mining's mid-term performance meets expectations, with significant revenue and profit growth in the first half of the year [1] Financial Performance - Zijin Mining achieved operating revenue of 167.71 billion RMB, representing a year-on-year increase of 11.5% [1] - The net profit attributable to shareholders reached 23.29 billion RMB, showing a year-on-year growth of 54.41% [1] Future Outlook - CICC forecasts a systematic increase in the company's copper, gold, and lithium production in the long term, leading to accelerated performance release [1] - The net profit forecasts for the next two years have been raised by 9% and 22%, reaching 45.8 billion RMB and 54.8 billion RMB respectively [1] Stock Ratings and Price Targets - CICC maintains a "outperform" rating for Zijin Mining's A-shares and H-shares [1] - The target price for A-shares has been increased by 26.1% to 29 RMB, while the target price for H-shares has been raised by 40.1% to 30 HKD [1]

智通财经APP获悉，中金发布研报称，紫金矿业(02899)中期业绩符该行预期，上半年实现营业收入 1,677.11亿元人民币(下同)，同比增11.5%;实现归母净利润232.92亿元，同比增长54.41%。中金表示，公 司铜金锂远期产量系统性上升，业绩加速释放，上调今明两年归母净利预测各9%、22%，至分别458亿 及548亿元，维持紫金矿业A股(601899.SH)、港股"跑赢行业"评级;考虑A股、港股资源板块估值中枢上 行，上调A股目标价26.1%至29元，H股目标价上调40.1%至30港元。 该信息由智通财经网提供 ...

9月1日，紫金矿业大宗交易成交69.26万股，成交额1688.56万元，占当日总成交额的0.19%，成交价 24.38元，较市场收盘价24.38元持平。 | 交易日期 | 豆瓣圆修 | 证券代码 | | | 成交价(元) 成交金额(万元) 成交量(*) 英入管业部 | | 卖出营业部 | 是否为专场 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-09-01 | 紫金矿业 | 668T09 | 24.38 | 695.32 | 28.52 | 中国国际金融股份 有限公司北京建国 | 平安证券股份有限 公司深圳金田路运 | ਦੂਵ | | | | | | | | 门外大街证券营业 | 券管业部 | | | | | | | | | 87 | | | | 2025-09-01 | 家会矿业 | 601899 | 24.38 | 496.62 | 20.37 | 中国国际全融股份 | 平安证券股份有限 | 84 | | | | | | | | 有限公司北京建国 | 公司温圳金田路证 | | | | | | | | | 门外大街证券営业 ...

另一方面，汽车股多数表现低迷，Q2毛利率大幅下降，比亚迪(002594)股份跌超5%，广汽集团 (601238)、吉利汽车、小鹏汽车皆有跌幅，中资券商股、纸业股、高铁基建股、乳制品股、体育用品股 齐跌，其中，中国交通建设跌6%，中信建投(601066)跌超3%。(格隆汇) | 名称 | 最新价 | 涨跌幅 | | --- | --- | --- | | 恒生指数 | 25617.42 | +2.15% | | 800000 | | | | 国企指数 | 9121.87 | +1.95% | | 800100 | | | | 恒生科技指数 | 5798.96 | +2.20% | | 800700 | | | 格隆汇9月1日｜港股三大指数全天高位震荡，迎来9月开门红行情！黄金股与科技股联袂上攻，带领市 场做多情绪高涨。截止收盘，恒生指数涨2.15%上扬近550点，国企指数、恒生科技指数分别上涨1.95% 及2.2%。 | 代码 | 名称 | 最新价 | 涨跌幅 √ | | --- | --- | --- | --- | | 09988 | ◎ NTEBBE | 137.100 | 18.50% | | 0193 ...

中金发表研究报告指，紫金矿业中期业绩符该行预期，营业收入1677.11亿元，按年增11.5%；实现归母 净利润232.92亿元，年增54.41%。中金表示，公司铜金锂远期产量系统性上升，业绩加速释放，上调今 明两年归母净利预测各9%、22%，至分别458亿及548亿元，维持紫金矿业AH股"跑赢行业"评级；考虑 A股、港股资源板块估值中枢上行，上调A股目标价26.1%至29元，H股目标价上调40.1%至30港元。 ...

Core Viewpoint - The report from CICC indicates that Zijin Mining's mid-year performance met expectations, with significant revenue and profit growth [1] Financial Performance - Zijin Mining achieved operating revenue of 167.71 billion RMB in the first half of the year, representing a year-on-year increase of 11.5% [1] - The company reported a net profit attributable to shareholders of 23.29 billion RMB, which is a year-on-year increase of 54.41% [1] Future Outlook - CICC forecasts a systematic increase in the company's copper, gold, and lithium production in the future, leading to accelerated performance [1] - The net profit forecasts for the next two years have been raised by 9% and 22%, reaching 45.8 billion RMB and 54.8 billion RMB respectively [1] Ratings and Target Price - CICC maintains a rating of "A-share +1.130" and "H-share outperforming the industry" for Zijin Mining [1] - The target price for H-shares has been increased by 40.1% to 30 HKD, considering the upward adjustment in valuation for the resource sector in both A-shares and H-shares [1]

9月1日，紫金矿业涨5.03%，截至发稿，报24.24元/股，成交55.53亿元，换手率1.13%，总市值6442.40 亿元。 资料显示，紫金矿业集团股份有限公司位于福建省上杭县紫金大道1号,福建省厦门市思明区环岛东路 1811号中航紫金广场B塔,香港九龙柯士甸道西1号环球贸易广场75楼7503A室，成立日期2000年9月6 日，上市日期2008年4月25日，公司主营业务涉及矿产资源勘查和开发。主营业务收入构成为：其它 66.76%，冶炼加工及贸易金41.33%，冶炼产铜16.26%，矿山产铜精矿11.51%，矿山产金锭6.69%，矿山 产金精矿4.93%，矿山产电解铜2.67%，冶炼产锌2.49%，矿山产锌1.90%，矿山产电积铜1.68%，矿山产 银0.66%，铁精矿0.14%。 财通颐享稳健养老一年持有期混合发起(FOF)（021166）成立日期2024年9月10日，最新规模5472.03 万。今年以来收益5.23%，同类排名755/1059；成立以来收益7.9%。 财通颐享稳健养老一年持有期混合发起(FOF)（021166）基金经理为陈曦。 截至发稿，陈曦累计任职时间3年194天，现任基金资产总规模 ...