ZHONGJIN GOLD(SH:600489) Sou Hu Cai Jing·2026-01-28 02:41Group 1 - The core viewpoint of the news highlights the strong performance of the non-ferrous metal sector, with the non-ferrous mining ETF (招商, 159690) reaching a historical high, reflecting a significant increase of 3.31% and peaking at 3.84% [2] - Major stocks in the sector, including silver and various gold mining companies, have shown substantial gains, indicating robust market activity and investor interest [2] Group 2 - Zhongjin Gold announced an impressive forecast for its 2025 annual performance, expecting a net profit attributable to shareholders of 4.8 billion to 5.4 billion yuan, representing a year-on-year growth of 41.76% to 59.48% [3] - The expected net profit, excluding non-recurring gains and losses, is projected to be between 5.6 billion and 6.2 billion yuan, with a year-on-year increase of 58.55% to 75.54% [3] - The strong performance is attributed to the continuous rise in gold prices in 2025, showcasing the resilience of the gold sector amid macroeconomic changes [3] Group 3 - The non-ferrous mining ETF has a high concentration in its top three weighted commodities: copper (31%), gold (14%), and aluminum (12%), which together account for nearly 60% of the ETF [3] - The ETF is described as having a "leverage property," acting as a "cycle amplifier" due to its concentrated investment in leading upstream resource companies, which allows profit margins to expand significantly when metal prices rise [3] - This results in a "Davis double-hit" scenario, where both profits and valuations are enhanced, leading to net asset value increases that can outpace the underlying commodity price increases [3]