新质生产力风口，再生金属龙头获杠杆资金加仓

Core Viewpoint - The recycling non-ferrous metal industry in China is experiencing a historic breakthrough, with expectations to exceed 20 million tons in production by the end of 2025, becoming a key force in addressing resource and environmental challenges [1] Industry Growth - The production of recycled non-ferrous metals in China has increased from 14.5 million tons at the end of the 13th Five-Year Plan to an expected 19.15 million tons by the end of 2024, with an average annual growth rate of 7.2% [1] - Cumulatively, the production over the past four years reached 69.3 million tons, accounting for one-quarter of China's total production of ten commonly used non-ferrous metals and one-third of global production, saving 3.6 billion tons of mineral resources and reducing carbon dioxide emissions by 560 million tons [1] Market Performance - The capital market has shown strong interest in the non-ferrous metal sector, with significant stock price increases observed in companies such as Shenzhen New Star and Guocheng Mining, with some stocks rising over 20% in November alone [3] - A total of 21 stocks in the sector have doubled in value this year, with Zhongzhou Special Materials leading with a 235.66% increase [3] Institutional Interest - Companies like Srey New Materials, Zhongke Sanhuan, Youyan Powder Materials, and Baowu Magnesium Industry have attracted significant attention from institutional investors [3] - Srey New Materials highlighted the substantial demand potential for high-strength, high-conductivity copper alloy materials driven by the rapid development of downstream sectors such as new energy vehicles and commercial aerospace [3] Future Outlook - Nine stocks that have received increased investment from financing clients and are favored by more than five institutions are expected to achieve sustained high growth of over 20% in earnings from 2025 to 2026 [3] - This indicates that leading companies with technological advantages and growth potential are becoming focal points for market investment as the recycling metal industry approaches a new milestone [3]