Group 1 - Morgan Stanley's preference order for the materials sector in 2026 is copper/gold > aluminum > lithium > coal > steel [1] - The MSCI China Materials Index is expected to outperform the MSCI China Index this year due to supply disruptions or tight supply and further M&A activities [1] - Zijin Mining (02899) remains Morgan Stanley's top pick for the year, with continued optimism for Luoyang Molybdenum (03993), China Aluminum (02600), and China Hongqiao (01378) [1] Group 2 - Jiangxi Copper (00358) has been upgraded to neutral based on a positive outlook for copper [1] - Chinese policies are still the main driver of commodity prices, but the execution and intensity of anti-involution policies are expected to be milder than anticipated starting from Q4 2025 [1] - Steel profit margins are expected to remain low without significant production cuts, leading to a downgrade of Baoshan Iron & Steel (600019.SH) to neutral and Ansteel (00347) to underweight [1]

Group 1 - Morgan Stanley's report indicates a preference order for the materials sector in 2026: Copper/Gold > Aluminum > Lithium > Coal > Steel [1] - The MSCI China Materials Index is expected to outperform the MSCI China Index this year due to supply disruptions or tight supply and further M&A activities [1] - Zijin Mining (601899)(02899) remains Morgan Stanley's top pick for the year, with continued optimism for Luoyang Molybdenum (603993)(03993), China Aluminum (601600)(02600), and China Hongqiao (01378) [1] Group 2 - Based on a positive outlook for copper, Jiangxi Copper (600362)(00358) rating is upgraded to Neutral [1] - Chinese policies are seen as the main driver of commodity prices, but the execution and intensity of anti-involution policies post-Q4 2025 are expected to be milder than anticipated [1] - The effort to reduce excess capacity in the steel sector is a long-term endeavor, and without significant production cuts, steel profit margins are expected to remain low [1] Group 3 - Baosteel (600019)(600019.SH) rating is downgraded to Neutral, while Ansteel (000898)(00347) is downgraded to Underweight [1]

Core Viewpoint - The A-share market has shown a strong upward trend in the first trading week of 2026, with significant gains in major indices and individual stocks, indicating a positive start to the year [2][3]. Group 1: Market Performance - The major A-share indices continued their upward trend from the end of 2025, with the Shanghai Composite Index rising by 3.82%, the Shenzhen Component Index by 4.40%, and the ChiNext Index and STAR Market 50 Index by 3.89% and 9.80%, respectively [2]. - The "Everyday Brand 100 Index" achieved a weekly increase of 1.26%, closing at 1159.90 points [2]. - Over 10 constituent stocks saw weekly gains exceeding 5%, with notable performances from China Life, Zijin Mining, and Guizhou Moutai, each increasing their market value by over 50 billion yuan [1][2]. Group 2: Sector Performance - The insurance, real estate, and non-ferrous metal sectors experienced strong rebounds, with China Pacific Insurance and China Life Insurance seeing weekly increases of 10.95% and 9.94%, respectively [2]. - The performance of Zijin Mining was particularly noteworthy, with its stock price reaching a new high and a total market value nearing 1 trillion yuan [4]. Group 3: Company Insights - Zijin Mining's market value reached 989.7 billion yuan as of January 9, 2026, with a projected net profit for 2025 estimated between 51 billion and 52 billion yuan, reflecting a year-on-year growth of 59% to 62% [4]. - The company plans to produce 105 tons of gold, 1.2 million tons of copper, and 520 tons of silver in 2026, indicating a significant increase in production capacity [4]. - Zijin Mining is actively expanding its resource portfolio through acquisitions, including overseas gold mines in Ghana and Kazakhstan, as well as domestic acquisitions [4]. Group 4: Management Changes - Following the profit forecast announcement, Zijin Mining appointed a new chairman, Zou Laichang, and a new president, Lin Hongfu, marking a transition in leadership aimed at shifting from a founder-driven to a mechanism-driven management model [5].

Group 1 - The core transaction on January 9 involved a block trade of 370,800 shares of Zijin Mining, amounting to 13.80 million yuan, with a transaction price of 37.22 yuan per share [1] - The buyer was CITIC Securities Co., Ltd. Beijing Branch, while the seller was UBS Securities Co., Ltd. Shanghai Huayuan Shiqiao Road Securities Branch [1] - Over the past three months, Zijin Mining has recorded a total of 21 block trades, with a cumulative transaction value of 1.48 billion yuan [1] Group 2 - On January 9, Zijin Mining closed at 37.22 yuan, reflecting a 2.53% increase, with a daily turnover rate of 1.36% and a total transaction amount of 10.41 billion yuan [1] - The net inflow of main funds for the day was 551 million yuan, and the stock has risen by 7.98% over the past five days, with a total net inflow of 722 million yuan [1] - The latest margin financing balance for Zijin Mining is 8.78 billion yuan, which has increased by 608 million yuan over the past five days, representing a growth rate of 7.44% [1]

Group 1 - The core viewpoint of the news is that Zijin Mining experienced a stock price increase of 2.53%, closing at 37.22 yuan, with a significant block trade occurring [1] - A total of 370,800 shares were traded in the block transaction, amounting to 13.80 million yuan, with a premium rate of 0.00% [1] - The buyer of the block trade was CITIC Securities Co., Ltd. Beijing Branch, while the seller was UBS Securities Co., Ltd. Shanghai Huayuan Shiqiao Road Securities Branch [1] Group 2 - Over the past three months, Zijin Mining has recorded 20 block trades, with a total transaction value of 1.475 billion yuan [1] - In the last five trading days, the stock has risen by 7.98%, with a net inflow of 298 million yuan from main funds [1]

Group 1 - The core point of the news is that Zijin Mining conducted a block trade on January 9, with a total of 370,800 shares traded, amounting to 13.8027 million yuan, which represents 0.13% of the total trading volume for that day [1] - The transaction price was 37.22 yuan, which was consistent with the market closing price of 37.22 yuan [1]

Core Viewpoint - Zijin Mining's profits are expected to be boosted by an increase in gold production, with projections indicating that gold output will reach 105 tons by 2026, two years ahead of the original target of 100-101 tons, representing a growth of approximately 17% compared to 2025 [1] Group 1 - Analysts predict that Zijin Mining's copper and silver production may increase by 10% and 19% respectively, while lithium carbonate production could surge by 380% [1] - This growth trajectory highlights Zijin Mining as a rare multi-commodity growth source, with a clear growth path [1] - Earnings forecasts for 2026-2027 have been raised by 11%-13% [1] Group 2 - The target price for Zijin Mining has been increased from HKD 37.80 to HKD 42.50, maintaining a buy rating [1] - Following this news, the stock rose by 3.0% to HKD 38.30 [1]

Core Viewpoint - Zijin Mining has shown a significant increase in stock price and financial performance, indicating strong market interest and operational growth [1][2]. Group 1: Stock Performance - On January 9, Zijin Mining's stock price rose by 2.01%, reaching 37.03 CNY per share, with a trading volume of 2.173 billion CNY and a turnover rate of 0.29%, resulting in a total market capitalization of 984.618 billion CNY [1]. - Year-to-date, Zijin Mining's stock has increased by 7.43%, with a 7.43% rise over the last five trading days, a 20.42% increase over the last 20 days, and a 19.53% increase over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, Zijin Mining reported a revenue of 254.2 billion CNY, reflecting a year-on-year growth of 10.33%, and a net profit attributable to shareholders of 37.864 billion CNY, which is a 55.45% increase compared to the previous year [2]. Group 3: Shareholder Information - As of September 30, 2025, Zijin Mining had 529,800 shareholders, an increase of 57.83% from the previous period, with an average of 0 circulating shares per shareholder [2]. - The company has distributed a total of 59.277 billion CNY in dividends since its A-share listing, with 27.772 billion CNY distributed over the last three years [3]. - Major shareholders include Hong Kong Central Clearing Limited, holding 1.354 billion shares (a decrease of 235 million shares), and China Securities Finance Corporation, holding 691 million shares (unchanged) [3].

两融数据显示，该股最新融资余额为89.23亿元，近5日增加7.39亿元，增幅为9.03%。（数据宝） 进一步统计，近3个月内该股累计发生20笔大宗交易，合计成交金额为14.70亿元。 证券时报·数据宝统计显示，紫金矿业今日收盘价为36.30元，下跌1.14%，日换手率为1.17%，成交额为 87.80亿元，全天主力资金净流出9.50亿元，近5日该股累计上涨8.62%，近5日资金合计净流入5414.24万 元。 紫金矿业1月8日大宗交易平台共发生2笔成交，合计成交量36.00万股，成交金额1306.80万元。成交价格 均为36.30元。 （文章来源：证券时报网） 1月8日紫金矿业大宗交易一览 | 成交量 | 成交金额 | 成交价格 | 相对当日收盘折 溢价（%） | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | | （万股） | （万元） | （元） | | | | | 30.00 | 1089.00 | 36.30 | 0.00 | 广发证券股份有 | 招商证券股份有限公司北京 | | | | | | 限公司总部 | 景辉街证券营业部 | | 6. ...

证券日报网讯1月8日，梅安森（300275）在互动平台回答投资者提问时表示，公司主要从事矿山智能化 建设业务，客户覆盖全国市场。同时，公司依托紫金矿业（601899）的国际化战略服务于部分海外客 户。 ...