Group 1 - The core viewpoint of the news is that the China Securities Hong Kong 100 Raw Materials Index has shown significant growth, with a 7.80% increase over the past month, a 32.69% increase over the past three months, and a 62.85% increase year-to-date [1] - The index is classified according to the China Securities Industry Classification Standard, with the base date set at December 31, 2004, and a base point of 1000.0 [1] - The index is fully composed of securities listed on the Hong Kong Stock Exchange, with gold accounting for 68.96% and aluminum for 31.04% of the holdings [1] Group 2 - The index sample is adjusted biannually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, but can be temporarily adjusted under special circumstances [2] - Adjustments to the index occur when there are changes in the parent index samples, special events affecting industry classification, or when a sample company is delisted [2]

Core Viewpoint - Zijin Mining's stock price is currently at 19.87 yuan, reflecting a slight decline of 0.05% from the previous trading day, with significant trading volume and value reported [1] Group 1: Company Performance - Zijin Mining is primarily engaged in the exploration, mining, smelting, and sales of mineral resources such as gold, copper, and zinc, and operates globally, establishing itself as a leading comprehensive mining enterprise in China [1] - The company's mid-year performance forecast for 2025 indicates an expected net profit attributable to shareholders of approximately 232 billion yuan for the first half of the year, representing a year-on-year growth of around 54% [1] - Zijin Mining has been included in the "2025 Mid-Year Performance Increase" concept sector and has received recognition from multiple brokerage firms for exceeding performance expectations [1] Group 2: Market Activity - On August 5, 2025, Zijin Mining experienced a net inflow of main funds amounting to 29.41 million yuan, although there has been a cumulative net outflow of 243 million yuan over the past five days [1]

铜市：关税风波后的格局演变 (1)特朗普关税政策的影响 7 月 30 日，特朗普政府宣布对美国进口的半制成铜产品及铜密集型衍生产品征收 50% 关税，该政策源 于 232 条款调查，8 月 1 日起生效。不过，精炼铜和铜精矿被排除在关税之外，且不会面临对等关税。 这一豁免意义重大，因为美国 50% 的国内精炼铜需求依赖进口，而半制成品(盘条、管材、板材等)的净 进口仅占需求的 7%。 高盛指出，此前曾提示 "矿产外交" 相关交易可能给 COMEX - LME 价差套利带来下行风险，并关闭了 做多 COMEX - LME 的交易建议。尽管对铜关税提议近乎完全撤销感到意外，但这表明特朗普政府仍 关注铜的供应安全。美国接下来可能会把重点放在与海外达成矿产协议上，并逐步引入关税。 (2)铜价走势与价差变化 智通财经APP获悉，近期，铜市波动引发市场广泛关注，美国银行(美银)和高盛两大机构纷纷发布报 告，对铜价走势、关税影响及相关企业动态进行了深入分析。同时，美银还针对紫金矿业(H/A)给出了 最新研究观点。 关税宣布后，COMEX 铜合约价格下跌 20% 至约 4.46 美元 / 磅(9830 美元 / 吨)，COM ...

近期，铜市波动引发市场广泛关注，美国银行（美银）和高盛两大机构纷纷发布报告，对铜价走势、关 税影响及相关企业动态进行了深入分析。同时，美银还针对紫金矿业（601899）（H/A）给出了最新研 究观点。 （2）铜价走势与价差变化 关税宣布后，COMEX 铜合约价格下跌 20% 至约 4.46 美元 / 磅（9830 美元 / 吨），COMEX - LME 套 利价差降至约 150 美元，隐含关税约 2%，较本周初的 30% 以上大幅下降。 美银则提到，7 月 8 日特朗普政府表示将对铜征收 50% 关税后，美国 CME 铜期货飙升，价格跳涨逾 13%，达到每磅 5.70 美元的历史新高。CME 与 LME 铜合约之间的套利价差扩大，达到伦敦金属交易 所价格的 30% 的新纪录高点。而在 7 月 30 日政府宣布铜阴极将被排除在关税之外后，这一价差崩溃， 当日 22% 的价格跌幅达到了 13 个标准差。 （3）未来展望 高盛维持其 LME 铜价预测，预计 8 月低点为 9550 美元 / 吨，到 12 月将稳步升至 9700 美元 / 吨，认为 这一公告并未改变市场基本面。同时，高盛认为市场应至少有 25% 的概 ...

Group 1 - The event "Walking into ETF Component Companies: Zijin Mining Station" was successfully held in Xiamen and Shanghang, focusing on investor education and understanding of modern mining technology and ETF investment targets [1][2] - Zijin Mining aims to become a "green, high-tech, top-tier international mining group," with significant resources in copper, gold, zinc, lithium, silver, and molybdenum across 17 countries and 17 provinces in China [2] - As of the end of 2024, Zijin Mining's total resources include 11,037 million tons of copper, 3,973 tons of gold, 1,298 million tons of zinc, 31,836 tons of silver, and 1,788 million tons of lithium (LCE) [2] Group 2 - The Shanghai Stock Exchange (SSE) emphasized the importance of ETFs as efficient, transparent, and low-cost investment products, which have become core tools for asset allocation [3] - Zijin Mining is a key component of the SSE 180 ETF and has maintained a strong growth trend in recent years [3] - SSE plans to enhance investor education and promote long-term, value, and rational investment concepts through various activities [3] Group 3 - Guotai Junan Securities analyzed the changing gold pricing mechanism, highlighting that gold's value is supported by central bank purchases and its role as a hedge against inflation [5] - The report indicates that the influence of U.S. Treasury issues on gold prices will persist, and investors can leverage gold ETFs for investment opportunities [5] Group 4 - Huazhong Fund discussed the investment value of the SSE 180 ETF and gold ETF, noting that the SSE 180 index aims to capture emerging industry opportunities [6] - The gold ETF is positioned as an efficient tool for investors to allocate gold assets, especially in the context of ongoing central bank gold purchases [6] Group 5 - The event included a field visit to Zijin Mining's museum and production base, allowing participants to gain firsthand experience of mining operations and the company's resource reserves and green mining achievements [9] - SSE aims to continue promoting investor understanding of index products and fostering long-term investment concepts through similar ETF-themed activities [9]

Core Viewpoint - The expectation of a Federal Reserve interest rate cut has increased due to disappointing non-farm payroll data, leading to a surge in gold prices, with COMEX gold futures surpassing $3,400 [1][4]. Group 1: Market Performance - On August 4, A-share gold stocks were catalyzed by rising gold prices, with five gold industry stocks among the top ten gainers in the CSI Nonferrous Metals Index [1]. - Notable performers included Chifeng Jilong Gold Mining Co., which rose over 7%, and Shandong Gold Mining Co., which increased by more than 6% [1][2]. - The CSI Nonferrous Metals Index has seen a year-to-date increase of 24.91%, making it the top-performing sector among 31 first-level industries [6]. Group 2: Investment Opportunities - Citigroup has shifted its stance to a bullish outlook on gold, predicting that gold prices may rise due to a weakening dollar and concerns over inflation related to tariffs [4]. - The long-term trend of global central banks increasing gold holdings remains unchanged, supporting a bullish outlook for gold prices [4]. - The copper market is expected to see price increases due to limited supply and resilient demand, while rare earth prices are anticipated to rise as exports gradually open up [4][6]. Group 3: ETF and Fund Activity - The nonferrous metal sector ETF (159876) has experienced a price increase of 1.74% and has seen a net subscription of 600,000 units, indicating investor confidence in the sector [2]. - The ETF has received a total net inflow of 3.09 million yuan over the past three trading days, suggesting a growing interest in the sector [2]. Group 4: Policy and Economic Drivers - The Ministry of Industry and Information Technology plans to introduce a growth stabilization plan for key industries, including nonferrous metals, which is seen as a continuation of the supply-side reform initiated in 2016 [6]. - As of July 31, 22 out of 27 companies in the CSI Nonferrous Metals Index that disclosed mid-year earnings forecasts expect profitability, indicating strong operational resilience [6].

最近三个交易日，30日-1日，紫金矿业分别获融资买入2.90亿元、4.32亿元、1.37亿元。 8月1日，沪深两融数据显示，紫金矿业获融资买入额1.37亿元，居两市第102位，当日融资偿还额2.25亿 元，净卖出8750.89万元。 融券方面，当日融券卖出15.32万股，净卖出12.21万股。 ...

Core Viewpoint - Zijin Mining's stock price increased by 0.57% to 19.26 yuan as of August 1, 2025, reflecting positive market sentiment and operational developments [1] Group 1: Company Overview - Zijin Mining primarily engages in the exploration, mining, and smelting of mineral resources such as gold, copper, and zinc, establishing itself as a leading global mining group [1] - The company operates in multiple countries and regions, holding a significant position in the non-ferrous metals industry [1] Group 2: Recent Developments - Zijin Mining announced that the mining lease for the Akyem gold mine in Ghana has been ratified by the Ghanaian Parliament, and the company has completed the remaining payment of 100 million USD for the acquisition [1] - The Akyem gold mine has a resource volume of 54.4 tons, with expectations for further resource expansion and production increase in the future [1] Group 3: Financial Performance - In the first quarter, Zijin Mining achieved a net profit attributable to shareholders of 10.167 billion yuan [1] Group 4: Market Activity - On August 1, 2025, the net inflow of main funds into Zijin Mining was 48.6823 million yuan, while there was a net outflow of 242 million yuan over the past five days [1]

Group 1 - The report details the changes in the registered capital and issued shares of Zijin Mining Group Co., Ltd. as of July 31, 2025, indicating no increase or decrease in the registered capital, which remains at RMB 20,591,232,240 [1] - The total issued shares (excluding treasury shares) for the company is reported as 20,588,733,940, with no changes from the previous month [1] - The report confirms compliance with the relevant listing rules and regulations, ensuring that all necessary approvals and conditions for the issuance of securities have been met [2] Group 2 - The report includes information on the company's stock options and convertible bonds, indicating no new shares issued or treasury shares reduced during the month [2] - The total number of stock options and convertible bonds remains unchanged, with no financial transactions reported from the exercise of options [2] - The report emphasizes that all securities have the same rights and obligations, ensuring equal treatment among shareholders [3]

Core Viewpoint - Zijin Mining Group has successfully obtained parliamentary ratification for its mining lease at the Akyem gold mine in Ghana, which is expected to enhance the company's operational and financial performance in the coming years [1][2]. Group 1: Mining Lease and Financial Details - The Akyem gold mine's mining lease was approved by Ghana's Ministry of Lands and Natural Resources and ratified by the Ghanaian Parliament, with a lease term effective until January 2037 [1]. - The total transaction price for the acquisition from Newmont Corporation is $1 billion, with an initial payment of $900 million at closing and a remaining $100 million due upon parliamentary approval of the eastern mining lease [1]. - The actual initial payment made by the company was $888 million after adjustments for cash and operating funds, and the remaining $100 million was paid on July 31, 2025 [1]. Group 2: Operational Performance and Future Prospects - Since the acquisition, the Akyem gold mine has been operating smoothly, with equipment in good condition and production metrics meeting expectations, contributing to the company's output and profits from the first year [2]. - The project has favorable mineralization conditions and significant potential for resource expansion, and the company plans to enhance resource reserves, service life, and gold production through further exploration and technical improvements [2].