“金王”紫金矿业，年净赚超510亿

Core Viewpoint - The arrival of a new cycle in non-ferrous metals has positioned the gold sector, particularly Zijin Mining, as a significant winner, with its market capitalization surpassing 1 trillion yuan and a stock price increase of 135.77% in 2025 [5][6]. Group 1: Company Performance - Zijin Mining's stock price surged over 6% on January 6, 2025, reaching a market cap of over 1 trillion yuan, with a total market value increase of 525.8 billion yuan throughout the year [6]. - The company has seen its stock price rise for six consecutive years, increasing from 3.15 yuan per share in early 2020 to over 10 times that value [7]. - The rise in prices of precious metals, especially gold, has been a key driver, with gold prices increasing over 60% in 2025 and reaching historical highs [7]. Group 2: Strategic Acquisitions - Zijin Mining's long-term strategy around gold and copper resources has been crucial for its stock price growth, with an average acquisition cost of $61.3 per ounce compared to the industry average of $92.9 per ounce from 2019 to 2024 [9]. - The company has expanded into lithium resources, acquiring a 25% stake in Zangge Mining for 13.7 billion yuan, significantly increasing its lithium reserves to 1.788 million tons of lithium carbonate equivalent [9][10]. - Zijin Mining's acquisitions have included key projects globally, such as the acquisition of Continental Gold for 1.33 billion Canadian dollars in 2019, enhancing its resource base [14][15]. Group 3: Future Outlook - The company aims to become a significant player in the lithium industry, with a focus on strategic acquisitions during market downturns [18]. - By 2023, Zijin Mining controlled over 1.215 million tons of lithium carbonate equivalent, ranking third in China and ninth globally [20]. - The recent acquisition of a 24.82% stake in Zangge Mining for 13.729 billion yuan further strengthens its position in lithium resources, indicating that the company’s growth trajectory is far from over [21].