Zhi Tong Cai Jing·2025-12-31 02:02Group 1 - Jiangxi Copper (600362) shares rose over 9% in early trading, reaching a new high of 44.62 HKD, and currently trading at 43.78 HKD with a transaction volume of 553 million HKD [1] - Jiangxi Copper's wholly-owned subsidiary, Jiangxi Copper Hong Kong Investment, announced a cash acquisition of all issued and to-be-issued ordinary shares of SolGold plc, with a maximum total consideration of up to 764 million GBP [1] - The completion of the acquisition is subject to approval from SolGold shareholders and must meet or be exempt from other conditions [1] Group 2 - The National Development and Reform Commission published an article emphasizing the optimization and management of the alumina and copper smelting industries, encouraging mergers and reorganizations among major enterprises in these sectors [1] - Morgan Stanley noted that lower annual copper concentrate processing and refining fees, along with long-term contract concentrate volumes, may lead to a reduction in refined copper output by 2026 [1] - These factors, combined with stable demand, are expected to support copper prices at high levels, benefiting companies such as Zijin Mining (601899), Luoyang Molybdenum (603993), Minmetals Resources, and Jiangxi Copper [1]