Core Viewpoint - The article emphasizes the strong potential for the non-ferrous metals sector, driven by new demand from various industries and a tightening supply, which is expected to enhance profitability for companies in this sector [4][5]. Group 1: Demand and Supply Dynamics - The "anti-involution" trend is anticipated to accelerate the clearing of excess capacity, thereby restoring profits for non-ferrous enterprises [4]. - New demand drivers include sectors such as renewable energy, infrastructure, artificial intelligence, and robotics, which are increasing the demand for metals [4]. - The global economy is gradually recovering, and the depreciation of the US dollar is supporting non-ferrous metal prices [4]. Group 2: Performance Expectations - Eight companies in the sector are expected to report significant profit growth, with some projecting increases in net profit by as much as 42% [5]. - The non-ferrous 50 ETF index is projected to see a substantial increase in net profit, with some companies expected to grow their profits by 18-20 times by 2025 [5]. Group 3: Valuation Insights - The index valuation stands at 19.61 times earnings, which is at the 35th percentile, indicating that it is relatively undervalued with a clear upward trend [7]. - The cost-effectiveness of investments in this sector is becoming more pronounced, suggesting a favorable entry point for investors [8]. Group 4: Index Composition - The non-ferrous 50 ETF index includes major players such as Zijin Mining (15.8% weight), Northern Rare Earth (5.0% weight), and China Aluminum (4.4% weight), covering a broad spectrum of non-ferrous metals including gold, copper, aluminum, and rare earths [10]. - The index has a copper content of over 31%, which is higher than similar non-ferrous metal indices, indicating a strong focus on copper-related investments [11].
降息概率大增，有色机会来了？四个维度，秒懂“反内卷先锋”有色50ETF(159652)投资精髓
Sou Hu Cai Jing·2025-08-06 06:14