Group 1 - The capital markets in Hong Kong and A-shares experienced significant growth in 2025, with the non-ferrous metals sector, including precious metals like gold and silver, leading the way with an annual increase of 94.73% [1] - Silver and gold futures saw price increases of over 130% and 40% respectively, with multiple instances of extreme price surges, which also positively impacted other industrial metals [4][5] - The copper sector in the Hong Kong market surged over 261%, significantly outperforming other sectors, while gold and precious metals also saw increases exceeding 170% [4][5] Group 2 - Major companies in the non-ferrous metals sector, such as Zijin Mining and China Hongqiao, reported substantial stock price increases, with Zijin Mining's stock rising over 163% and China Hongqiao's stock increasing by 203.7% [9][11] - Zijin Mining achieved a revenue of 254.2 billion RMB in the first three quarters of 2025, marking a 10.33% year-on-year increase, while net profit rose by 55.45% [17][19] - China Hongqiao's revenue for the first half of the year reached 81.04 billion RMB, a 10.12% increase, with net profit growing by 35.02% [24][26] Group 3 - The non-ferrous metals sector is expected to continue its upward trajectory in 2026 due to favorable monetary conditions and a tight supply-demand balance [4][28] - Global economic factors, such as the restructuring of global order and the weakening of the US dollar, are driving precious metal prices higher [27] - Analysts from major financial institutions, including Goldman Sachs and Morgan Stanley, express optimism about the non-ferrous metals sector, highlighting structural supply-demand gaps in metals like copper and aluminum [28][29]