PING AN OF CHINA(HK:02318) Mei Ri Jing Ji Xin Wen·2025-08-06 06:28Group 1 - The core viewpoint is that policies are expected to optimize the production capacity structure of non-ferrous metals such as copper and aluminum, with profits from copper smelting and alumina production gradually recovering [1] - The non-ferrous metals steady growth work plan is about to be implemented, focusing on high-quality development in the copper, aluminum, and gold industries, emphasizing stability in growth and transformation [1] - Supply-side policies are likely to accelerate the exit of outdated production capacity, enhancing the efficiency and pricing power of high-quality production capacity [1] Group 2 - Demand-side supporting plans are expected to optimize the downstream structure, promoting optimistic growth in demand in sectors like new energy, thereby boosting the long-term demand growth for non-ferrous metals [1] - The structural contradictions in the industrial metals sector need to be resolved, and under policy guidance, the supply-demand pattern is expected to improve, benefiting companies with high-quality production capacity through price increases and comparative advantages [1] - The mining ETF (561330) tracks the non-ferrous mining index (931892), which selects listed companies involved in the mining, smelting, and processing of non-ferrous metals to reflect the overall performance of these sectors [1]