（文章来源：每日经济新闻） 每经AI快讯，1月30日，紫金矿业在香港市场跌幅扩大，股价下跌7.9%至每股42.50港元。 ...

紫金矿业在香港市场跌幅扩大，股价下跌7.9%，至每股42.50港元。 ...

Group 1: Gold and Precious Metals Market - Spot gold first broke through the $5,500 per ounce mark, reaching close to $5,600, but subsequently fell below $5,200 [1][10] - The non-ferrous metals sector saw significant declines, with major players Zijin Mining and Luoyang Molybdenum dropping over 8% and 9% respectively, with Zijin Mining's stock hitting a low of 39.12 yuan [1][10] - The performance of the non-ferrous metals sector pressured the Shanghai Composite Index and Shenzhen Component Index, while the ChiNext Index rose due to gains in heavyweight stocks like CATL and Sungrow [1][10] Group 2: Consumer and Entertainment Sector - The film and cinema sector showed strong performance, with stocks like Hengdian Film and Happiness Blue Sea experiencing significant gains [4][12] - The sector is supported by favorable policies aimed at enhancing service consumption, as outlined in the State Council's recent work plan [12][14] - Upcoming major film releases for the 2026 Spring Festival are expected to drive market recovery, with a shift from single film support to a multi-film resonance [14] Group 3: AI and Optical Communication Sector - The North American computing power chain showed strong performance, with stocks like "Yizhongtian" and Tianfu Communication rising over 11%, reaching historical highs [7][15] - The demand for AI computing power is driving upgrades in the optical communication industry, with strong demand for high-speed optical modules [16] - Despite short-term supply gaps for high-speed optical chips, upstream manufacturers are actively expanding production, which is expected to alleviate supply chain bottlenecks [16]

紫金矿业成交额达200亿元，现跌8.31%。 ...

Market Overview - On January 30, the A-share market experienced a volatile correction, with the non-ferrous sector showing dramatic fluctuations, leading to significant declines in gold and non-ferrous ETFs, which approached their daily limit down before narrowing losses [1][3] - The non-ferrous ETF Huatai-PineBridge (159652) saw a drop of over 9%, which later reduced to 8%, with net subscriptions reaching 60 million units, translating to over 120 million yuan in net subscription amount [1] Precious Metals - The long-term outlook for gold remains strong due to factors such as de-dollarization, central bank gold purchases, and geopolitical conflicts, although short-term pullback risks should be monitored [1][5] - Recent market dynamics saw COMEX gold futures reaching historical highs, while spot silver surged over 4%, and London copper prices jumped 8%, surpassing $14,000 per ton [3][5] Industrial Metals - The copper market is currently experiencing short-term emotional volatility, but the long-term logic remains intact, supported by tight supply and ongoing demand from AI and power grid construction [8] - Aluminum prices are expected to maintain high volatility due to mixed macroeconomic signals, with domestic production increasing and inventory pressures mounting [8] Investment Opportunities - The non-ferrous ETF Huatai-PineBridge (159652) is highlighted for its comprehensive coverage of various metal sectors, including gold, copper, aluminum, lithium, and rare earths, positioning it to benefit from the super cycle in non-ferrous metals [11][14] - The ETF has shown superior performance with a cumulative return leading its peers since 2022, and its valuation remains reasonable, indicating that price increases are driven by earnings rather than valuation expansion [16][17] Historical Trends - Historical patterns suggest that the non-ferrous sector is likely to continue its strong performance, particularly during the second phase of major market cycles, which is characterized by profit-driven price increases [9]

Group 1 - The core index of the subdivided non-ferrous metal industry, the CSI Non-ferrous Metal Industry Theme Index (000811), has decreased by 8.42% as of January 30, 2026 [1] - Major component stocks such as Nanshan Aluminum, Yunnan Copper, and others have seen significant declines, with Nanshan Aluminum leading at a drop of 10.05% [1] - The non-ferrous ETF, Huatai-PineBridge (159652), has also fallen by 8.91%, with a latest price of 2.05 yuan, despite a 16.20% increase over the past week [1] Group 2 - The latest scale of the non-ferrous ETF Huatai-PineBridge has reached 77.22 billion yuan, marking a new high in nearly a year [3] - The fund has seen a net inflow of 2.35 billion yuan recently, with a total of 5.78 billion yuan net inflow over the past five trading days [3] - Leveraged funds have been actively investing, with a net purchase amount of 330.88 million yuan this month [3] Group 3 - On January 30, the international metal market experienced significant volatility, with precious and industrial metals rising sharply, leading to a surge in market sentiment [4] - COMEX gold futures reached a new historical high, while copper prices surged over 8%, breaking the 14,000 USD/ton mark for the first time [4] - However, the market reversed direction quickly due to profit-taking and hawkish statements from the Federal Reserve, causing prices to drop significantly [4] Group 4 - The gold market is expected to be supported by central bank purchases and rising gold ETF holdings, which will continue to bolster gold prices [5] - Copper prices are under short-term pressure due to macroeconomic adjustments, but long-term demand from AI and infrastructure projects remains strong [5] - Aluminum prices are expected to remain high due to a balance of supply and demand, despite some weakening in demand as the Spring Festival approaches [6] Group 5 - The cobalt sector is facing high prices due to tight raw material supply, while demand from downstream sectors remains cautious [7] - Rare earth prices are rebounding due to policy support and pre-holiday stocking demand [7] - Historical trends suggest that the non-ferrous sector may continue to perform strongly, driven by economic recovery and fundamental support [8] Group 6 - The non-ferrous ETF Huatai-PineBridge is positioned to benefit from a comprehensive layout across major metal sectors, including gold, copper, aluminum, lithium, and rare earths [10] - The ETF has a leading "gold-copper content" of 46%, with a focus on core strategic resources [12][13] - The ETF's performance has been driven by earnings rather than valuation, indicating a strong growth phase [15]

Core Insights - On January 29, a total of 3,766 stocks in the A-share market received financing funds for purchase, with 662 stocks having purchase amounts exceeding 100 million [1] Financing Purchase Amounts - The top three stocks by financing purchase amount were Zijin Mining, Bluefocus, and Northern Rare Earth, with amounts of 4.113 billion, 3.26 billion, and 2.486 billion respectively [1] Financing Purchase Proportions - Five stocks had financing purchase amounts accounting for over 30% of the total transaction amount on that day. The top three were Dezhan Health, Huilong Shares, and Shenzhen Airport, with proportions of 47.08%, 37.87%, and 37.33% respectively [1] Net Financing Purchases - A total of 52 stocks had net financing purchases exceeding 100 million. The top three in net financing purchases were Zijin Mining, Tianfu Communication, and Bluefocus, with net amounts of 1.042 billion, 891 million, and 869 million respectively [1]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2026年1月29日,紫金矿业集团股份有限公司（以下简称"紫金矿业"、"公司" 或"本公司"）根据一般性授权拟发行可转换为公司H股的公司债券（以下简称"本 次发行"）。本次发行的联席全球协调人、联席账簿管理人及联席牵头经办人为 瑞士银行香港分行及中信里昂证券有限公司；兴证国际融资有限公司为本次发行 的联席牵头经办人。 证券代码：601899 证券简称：紫金矿业 编号：临2026-008 紫金矿业集团股份有限公司 关于根据一般性授权拟发行 15 亿美元 零息可转换公司债券的公告 于条款及条件载列的情况下，上述债券可按初始转换价每股 H 股 63.30 港元 （可被调整）转换为公司 H 股。初始转换价为每股 H 股 63.30 港元，较 2026 年 1 月 29 日（即签署认购协议的交易日）香港联交所所报公司股票最后收盘价每股 H 股 46.14 港元溢价约 37.19%；较截至 2026 年 1 月 29 日（包括该日）止连续五个 交易日香港联交所所报公司股票平均收盘价每股 H ...

Group 1 - The company, Zijin Mining, announced its plan to issue $1.5 billion zero-coupon convertible bonds due in 2031 on the Hong Kong Stock Exchange [2] - The initial conversion price is set at HKD 63.30 per share, representing a premium of approximately 37.19% over the last closing price of HKD 46.14 per share on January 29 [2] - The net proceeds from the bond issuance are expected to be approximately $1.527 billion, which will be used for capital expenditures related to the Arinna project in Peru, with the remainder allocated for working capital and general corporate purposes [2]

Core Viewpoint - Zijin Mining (02899.HK) has entered into a subscription agreement to issue $1.5 billion of zero-coupon convertible bonds due in 2031, with an initial conversion price set at HKD 63.30 per share, representing a premium of approximately 37.19% over the last closing price on January 29 [1] Group 1 - The company, through its wholly-owned subsidiary Jinkai Investment Holdings, has agreed to issue bonds with a total principal amount of $1.5 billion [1] - The bonds will be guaranteed unconditionally and irrevocably by the company, ensuring timely payment of all amounts due under the trust deed and the bonds [1] - The initial conversion price of HKD 63.30 allows for the conversion of the bonds into approximately 185 million H-shares, which represents about 3.09% of the existing issued H-shares and approximately 0.70% of the total issued shares as of the announcement date [1] Group 2 - After the bond issuance, the net proceeds are expected to be approximately $1.527 billion [2] - The company plans to use the proceeds for capital expenditures related to the Arin project in Peru, with the remainder allocated for working capital and general corporate purposes [2]