Group 1 - The core viewpoint of the report is that the MSCI China Materials Index has outperformed the MSCI China Index by 19% since early July, driven by stable performance of related companies in the first half of the year, rising interest rate cut expectations, and the theme of anti-involution policies in mainland China [1] - The materials sector is expected to continue its strong performance in the second half of the year, with a favorable outlook for the materials index, particularly for copper or gold, aluminum, steel, coal, and lithium [1] - Zijin Mining is highlighted as the top pick due to its strong profit growth, maintaining a "buy" rating with a target price of HKD 28 [1] Group 2 - The report expresses a positive outlook on copper stocks, recommending investors to buy Luoyang Molybdenum when shares are high, maintaining a "buy" rating with a target price of HKD 13.5 [1] - The target price for Ansteel has been raised from HKD 1 to HKD 2.3, with the rating upgraded from "reduce" to "neutral" [1]

注：本文系新闻报道，不构成投资建议，股市有风险，投资需谨慎。 两融数据显示，该股最新（9月2日）两融余额为44.31亿元，其中，融资余额为43.84亿元，近10日增加9.39亿元，环比增长27.25%。 机构评级来看，近10日共有10家机构对该股进行评级，预计目标价最高的是中金公司证券，8月29日中金公司证券发布的研报给予公司目标价为 29.00元。 公司发布的半年报数据显示，上半年公司共实现营业收入1677.11亿元，同比增长11.50%，实现净利润232.92亿元，同比增长54.41%，基本每股收 益为0.8770元，加权平均净资产收益率16.11%。（数据宝） （原标题：紫金矿业股价又创新高，今日涨2.87%） 紫金矿业股价再创历史新高，该股近期呈不断突破新高之势，近一个月累计有11个交易日股价刷新历史纪录。截至09:35，该股目前上涨2.87%， 股价报25.11元，成交6242.18万股，成交金额15.72亿元，换手率0.30%，该股最新A股总市值达5169.83亿元，该股A股流通市值5169.63亿元。 证券时报•数据宝统计显示，紫金矿业所属的有色金属行业，目前整体涨幅为1.30%，行业内，目前股 ...

企查查APP显示，近日，上海屹锂新能源科技有限公司发生工商变更，新增紫金矿业（601899）全资子公司紫金矿业投资（上海）有限公司等为 股东。企查查信息显示，该公司成立于2021年，法定代表人为张希，经营范围包含：电池销售；蓄电池租赁；电池制造；电池零配件销售等。公 开信息显示，屹锂科技致力于固态电池研发和产业布局。 （原标题：紫金矿业等入股固态电池研发商屹锂科技） ...

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 ...