此 乃 要 件 請 即 處 理 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負責，對其準確性或完整性亦不發表任何聲明，並 明確表示，概不對因本通函全部或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的股票經紀或其他註冊證券交易商、銀行經理、律師、專 業會計師或其他專業顧問。 閣下如已出售或轉讓名下所有紫金礦業集團股份有限公司股份，應立即將本通函送交買主、承讓人、經手買賣或轉讓的銀行、 股票經紀或其他代理商，以便轉交買主或承讓人。 Zijin Mining Group Co., Ltd.* 紫 金 礦 業 集 團 股 份 有 限 公 司 （一家於中華人民共和國註冊成立的股份有限公司） （股票代碼：2899） (1)修訂《公司章程》； (2)修訂《股東會議事規則》； (3)修訂《董事會議事規則》； (4)修訂《獨立董事工作制度》； (5)修訂《關聯交易管理辦法》； (6)制訂《董事和高級管理人員薪酬管理制度》； (7)第九屆董事、高管薪酬和考核方案； (8) 聘任公司終身榮譽董事長；及 (9)建議選舉董事 董事會 ...

Group 1: Company Strategy and Operations - Zijin Mining Group is implementing a globalization strategy, operating multiple mining projects in 17 countries, including the completion of the acquisition of the Akim gold mine in Ghana and the Raygorodok gold mine in Kazakhstan, which directly increases gold reserves and expands its footprint in West Africa and Central Asia [1] - The group has also completed a controlling acquisition of Zangge Mining, increasing its stake in the Julong copper mine and adding strategic potassium resource reserves, further strengthening its copper and lithium resource reserves [1] Group 2: Market Dynamics and Supply Issues - The supply of copper is being impacted by the shutdown of several large mines, leading to multiple downward revisions of global copper production forecasts for 2025 and 2026, alongside expectations of a potential 25% tariff on refined copper imports to the U.S. by mid-2026, which is causing a shift of copper inventories towards the U.S. and exacerbating shortages in other regions [2] Group 3: Demand Drivers and Future Outlook - Copper demand is expected to grow over the next decade, driven by investments in AI, green energy transitions, and defense restructuring, with the International Energy Agency predicting that existing and planned mining capacities will only meet about 70% of global copper demand by 2035 [3] - Zijin Mining has set a five-year plan aiming for a more than 49% increase in copper production and over 47% increase in gold production by 2028, with a 20% year-on-year increase in gold production and a 5% increase in copper production in the first three quarters of this year [4] Group 4: Financial Performance and Projections - The company reported a 10% year-on-year increase in revenue to 254.2 billion RMB and a 55% increase in net profit attributable to shareholders to 37.86 billion RMB in the first three quarters, exceeding market expectations, with a 44% increase in net cash flow from operating activities [4] - If metal prices continue to reach new highs, the earnings forecast for 2026 could be adjusted upwards, with an expected 28% year-on-year increase in earnings per share to 2.475 RMB, suggesting a favorable outlook for stock performance [5]

Group 1: Company Strategy and Operations - Zijin Mining Group is implementing a globalization strategy, operating multiple mining projects in 17 countries, including the completion of the acquisition of the Akim gold mine in Ghana and the Raygorodok gold mine in Kazakhstan, which directly increases gold reserves and expands its presence in West Africa and Central Asia [1] - The company has also completed a controlling acquisition of Zangge Mining, increasing its stake in the Julong copper mine and adding strategic potassium resource reserves, further strengthening its copper and lithium resource reserves [1] Group 2: Market Conditions and Supply Dynamics - Multiple large mines have ceased operations this year, impacting global supply and leading to downward revisions of copper production forecasts for 2025 and 2026, with expectations of a potential 25% tariff on refined copper in the U.S. by mid-2026 exacerbating shortages [2] - The shift of copper inventories towards the U.S. in anticipation of import tariffs is intensifying shortages in other regions [2] Group 3: Demand Drivers and Future Outlook - Copper demand is expected to grow over the next decade, driven by investments in AI, green energy transitions, and defense restructuring, with the IEA predicting that existing and planned mining capacities will only meet about 70% of global copper demand by 2035 [3] - The rapid development of AI, such as the U.S. "Genesis Mission," is significantly increasing copper demand due to enhanced data center construction [3] Group 4: Financial Performance - Zijin Mining's three-quarter results show a 20% year-on-year increase in gold production to 65 tons and a 5% increase in copper production to 830,000 tons, benefiting from rising gold and copper prices, leading to a 10% increase in revenue to 254.2 billion RMB and a 55% increase in net profit attributable to shareholders to 37.86 billion RMB, exceeding market expectations [4] - The company's operating cash flow increased by 44% to 52.11 billion RMB, indicating strong cash generation capabilities [4] Group 5: Future Earnings Projections - Bloomberg forecasts a 28% year-on-year increase in earnings per share for 2026 to 2.475 RMB, with the current price reflecting approximately 12 times the projected earnings multiple [5] - If the copper market experiences further supply-demand imbalances and global gold demand continues to rise, there is potential for upward adjustments in the company's 2026 earnings forecast, positively impacting stock performance [5]

Market Overview - Hong Kong stocks opened positively with the Hang Seng Index up by 0.9%, the National Enterprises Index up by 0.88%, and the Hang Seng Technology Index up by 1.02% [1] - The market sentiment remains cautious, with expectations that the index will continue to fluctuate between 25,200 and 26,200 points [3] Company Updates - Zijin Mining (02899) saw a rise of 3.51%, while China Hongqiao (01378) increased by 3.32%, JD Health (06618) by 3.2%, Sands China (01928) by 2.36%, and NetEase (09999) by 1.91% [1] - Conversely, Henderson Land Development (00012) fell by 1.03%, Li Ning (02331) by 0.75%, and Hansoh Pharmaceutical (03692) by 0.65% [1] Bond Issuance - Zhaojin Mining (01818) opened high at 1.97% and announced the issuance of technology innovation convertible bonds amounting to 800 million RMB, which is 53.3% of the planned issuance of up to 1.5 billion RMB. The bonds have a two-year term and a coupon rate of 2.2% [1] Shareholder Activity - Leap Motor (09863) opened up by 1.63% as the Chairman and CEO Zhu Jiangming, along with shareholder Fu Liqian, purchased a total of 2.1506 million H shares at an average price of approximately 50.51 RMB, totaling over 100 million RMB. This increases their combined holdings to 23.75% of the total issued shares [2] - Red Star Macalline (01528) opened down by 0.84% after shareholders Taobao Holdings and New Retail Fund reduced their holdings by 30.616 million H shares, representing 0.7% of the current total share capital [2]

12月12日，有色板块开盘领衔冲高，此后红盘震荡！截至10:26，有色50ETF（159652）涨0.26%，早盘一度涨超1%，资金盘中延续流入趋势，有色50ETF （159652）盘中获100万份净申购，以盘中成交均价计算，合计净流入超150万元！截至12月11日，有色50ETF（159652）已连续4日获净申购累计超2亿元， 加上今日，有色50ETF（159652）已经获资金连续5日涌入！ 有色50ETF（159652）标的指数成分股涨跌不一，中金黄金、山东黄金等涨超2%，紫金矿业、中国铝业等涨超1%，赣锋锂业、天齐锂业等跌超3%，华友钴 业等跌超2%，北方稀土等回调。 | 序号 | 代码 | 名称 | 申万一级行业 | 涨跌幅 | 估算权重 ▼ | | --- | --- | --- | --- | --- | --- | | 1 | 601899 | 紫金矿业 | 有色金属 | 1.49% | 15.99% | | 2 | 603993 | 洛阳钼业 | 有色金属 | 0.52% | 6.16% | | 3 | 600111 | 北方稀土 | 有色金属 | -1.09% | 5.99% | | 4 | ...

| 有色龙头ETF | | 159876 | | --- | --- | --- | | (0) | +0.007 +0.77% | | | SZSE CNY 9:57:48 交易中 | / . + | | | 保护巡视 | 华宝中证有色金属ETF | | | 实时申购陵回信息 | 由胸 18 日 | | | 笔数 | 3 | | | 全额 | 0 0 | | | 份高质 | S 1200万 | | 成份股方面，西部矿业、锡业股份、驰宏锌锗、国城矿业、中孚实业携手涨超3%，山金国际、云铝股份、紫金矿业、 中国铝业等个股涨逾2%。 今日（12月12日）有色金属板块领涨两市，揽尽有色金属行业龙头的有色龙头ETF（159876）场内价格盘中涨超 1.5%，现涨0.77%，截至发稿，获资金实时净申购1200万份，此前已连续4日吸金1.4亿元，反映资金看好有色金属板 块后市表现，积极进场布局！ 第三，战略储备，大国博弈背景下，有色金属等资源就是底气。 有色金属的超级周期能有多长？业内人士指出，取决于三个条件：美元信用恢复情况、战略收储进度、"反内卷"政策 效果。从这三个条件来看，2026年有色金属超级周期大概率还会持续 ...

邹来昌表示，依托海南自由贸易港政策优势，紫金矿业正在三亚投资建设国际业务总部，建设黄金主题 公园。紫金矿业将抓住机遇在海南适时开展黄金精深加工业务，拓展贸易和国际市场业务，深化国际合 作，为黄金产业的发展和海南自由贸易港建设注入更多的"紫金力量"。 据国家企业信用信息公示系统显示，紫金(海南)国际矿业运营管理有限公司于12月9日成立，注册资本1 亿元人民币，经营范围包含非煤矿山矿产资源开采、金属与非金属矿产资源地质勘探、矿产资源储量估 算和报告编制服务等。股权穿透显示，该公司由紫金矿业集团股份有限公司全资持股。 消息面上，12月11日，在2025中国国际黄金市场年会上，紫金矿业集团股份有限公司党委副书记、副董 事长、总裁邹来昌在致辞时表示，海南自由贸易港将迎来封关运作的新阶段，将为中国高质量发展和更 高层次对外开放注入崭新的动力，为黄金产业提供历史机遇。 紫金矿业(02899)早盘涨超3%，截至发稿，涨2.6%，报33.94港元，成交额1.99亿港元。 ...

每经AI快讯，紫金矿业(02899.HK)发布公告，若干董事及高级管理人员已于2023年股票期权激励计划的 第一个行权期内行使其股票期权，公司因此发行225万股。有关股份于2025年12月10日发行，公司于 2025年12月11日收到相关通知。 ...

紫金矿业（601899）(02899)发布公告，若干董事及高级管理人员已于2023年股票期权激励计划的第一 个行权期内行使其股票期权而发行225万股。有关股份于2025年12月10日发行，本公司2025年12月11日 收到相关通知。 ...

智通财经APP讯，紫金矿业(02899)发布公告，若干董事及高级管理人员已于2023年股票期权激励计划的 第一个行权期内行使其股票期权而发行225万股。有关股份于2025年12月10日发行，本公司 2025年12月 11日收到相关通知。 ...