值得注意的是，中国罕王今年7月宣布，计划通过介绍上市方式将子公司"罕王黄金"分拆至香港联交所 主板独立上市。第一上海表示，分拆后，公司将形成平行上市结构，现有股东无需额外出资即可同时持 有中国罕王(铁矿业务)和罕王黄金(黄金业务)的股份。此举旨在打造一个独立的黄金业务资本平台，推 动黄金业务估值修复。此外，公司计划在分拆前引入长期战略投资者，并将融资金用于西澳Cygnet金矿 项目的建设。 来源：智通财经网 消息面上，中国罕王8月18日披露最新的可行性研究报告，对Mt Bundy项目最后可研报告以及Cygnet项 目预可研报告进行了更新。将澳洲507万盎司黄金资源量中的可采资源量增加至310万盎司，两个金矿投 产后预计黄金年产量合计超过20万盎司。公司近期披露了旗下金矿的研究报告，Cygnet矿山仍处于预可 研阶段，矿山建设的投资暂时全部计入生产成本。未来生产年限的增加以及品位的优化，成本有望持续 下降。公司两个金矿项目投资回报高，未来盈利可期。 中国罕王(03788)再涨近9%，年内累计涨幅已超365%。截至发稿，涨7.36%，报3.5港元，成交额2354.19 万港元。 ...

Core Viewpoint - China Rare Earth Holdings (03788) has seen a significant stock increase of nearly 9%, with a year-to-date rise exceeding 365% [1] Group 1: Stock Performance - As of the latest update, the stock price is reported at 3.5 HKD, with a trading volume of 23.54 million HKD [1] - The company has experienced a substantial increase in stock value, reflecting strong market interest and investor confidence [1] Group 2: Project Updates - On August 18, the company disclosed an updated feasibility study for the Mt Bundy project and a preliminary study for the Cygnet project [1] - The recoverable resource at the Australian site has been increased to 3.1 million ounces from a total of 5.07 million ounces, with combined annual gold production expected to exceed 200,000 ounces from both mines [1] Group 3: Future Prospects - The Cygnet mine is still in the preliminary study phase, with all construction costs currently accounted for as production costs [1] - The company anticipates a decrease in costs due to extended production life and improved ore grades, indicating high investment returns and promising future profitability [1] Group 4: Corporate Strategy - In July, the company announced plans to spin off its subsidiary "Rare Earth Gold" for independent listing on the Hong Kong Stock Exchange [1] - This spin-off aims to create a parallel listing structure, allowing existing shareholders to hold shares in both China Rare Earth Holdings (iron ore business) and Rare Earth Gold (gold business) without additional investment [1] - The company plans to attract long-term strategic investors before the spin-off, with funds raised intended for the development of the Cygnet gold mine project in Western Australia [1]

消息面上，中国罕王8月18日披露最新的可行性研究报告，对Mt Bundy项目最后可研报告以及Cygnet项 目预可研报告进行了更新。将澳洲507万盎司黄金资源量中的可采资源量增加至310万盎司，两个金矿投 产后预计黄金年产量合计超过20万盎司。公司近期披露了旗下金矿的研究报告，Cygnet矿山仍处于预可 研阶段，矿山建设的投资暂时全部计入生产成本。未来生产年限的增加以及品位的优化，成本有望持续 下降。公司两个金矿项目投资回报高，未来盈利可期。 值得注意的是，中国罕王今年7月宣布，计划通过介绍上市方式将子公司"罕王黄金"分拆至香港联交所 主板独立上市。第一上海表示，分拆后，公司将形成平行上市结构，现有股东无需额外出资即可同时持 有中国罕王(铁矿业务)和罕王黄金(黄金业务)的股份。此举旨在打造一个独立的黄金业务资本平台，推 动黄金业务估值修复。此外，公司计划在分拆前引入长期战略投资者，并将融资金用于西澳Cygnet金矿 项目的建设。 智通财经APP获悉，中国罕王(03788)再涨近9%，年内累计涨幅已超365%。截至发稿，涨7.36%，报3.5 港元，成交额2354.19万港元。 ...

Core Viewpoint - Zijin Mining (601899/02899) plans to spin off its subsidiary, Zijin Gold International Co., Ltd., for a listing on the main board of the Hong Kong Stock Exchange [1] Group 1: IPO Details - Zijin Gold International has published its prospectus on the Hong Kong Stock Exchange website on September 19, 2025, with a plan to globally offer 349 million shares, accounting for approximately 13.30% of the total issued shares post-offering [1] - The overall underwriters have the option to exercise an over-allotment option, requesting up to 52.35 million additional shares at the offering price, which could increase the total shares issued to 401 million, representing a significant portion of the offering [1] - The offering price is set at HKD 71.59 per share, with the public offering in Hong Kong starting on September 19, 2025, and expected to end on September 24, 2025, with new shares anticipated to commence trading on September 29, 2025 [1] Group 2: Financial Performance - For the first half of 2025, Zijin Mining reported revenue of CNY 167.71 billion and a net profit attributable to shareholders of CNY 23.29 billion [1]

香港联交所最新资料显示，9月18日，赤峰黄金（600988）(06693)股东将股票由第一上海证券公司转入 花旗银行，转仓市值4.38亿港元，占比6.30%。 此前赤峰黄金发布截至2025年6月30日止6个月中期业绩，该集团取得营业收入52.72亿元，同比增加 25.64%;归属于上市公司股东的净利润11.07亿元，同比增加55.79%;基本每股收益0.63元。 ...

Core Viewpoint - Zijin Mining Group's subsidiary, Zijin Gold International, plans to globally issue 349 million shares at a price of HKD 71.59 per share, aiming to raise approximately HKD 25 billion (around RMB 22.86 billion) [1][2] Group 1: IPO Details - The share issuance is expected to account for 13.3% of the total share capital post-issue, with 10% allocated for public offering in Hong Kong and 90% for international placement [1] - If underwriters fully exercise their over-allotment option, the share issuance proportion will increase to 15% of total share capital [1] - The funds raised will primarily be used to expand the company's gold resource exploration, mining development, and refining operations, enhancing its competitiveness in the global gold market [1] Group 2: Investor Participation - The IPO is regarded as the largest public offering globally since May 2025, attracting significant institutional investors [2] - Notable investors include Singapore's Government Investment Corporation (GIC), Millennium Management LLC, and Hillhouse Capital, all of which have confirmed their participation [2] - BlackRock, Fidelity International, and Baillie Gifford are expected to act as cornerstone investors, collectively anticipated to subscribe to about half of the IPO shares [2]

紫金黄金国际本次全球发售基础发行股数为3.49亿股(视乎超额配售权行使与否而定;约占全球发售完成 后已发行的紫金黄金国际股份总数13.30%)，其中，初步安排香港公开发售3489.91万股(可予重新分 配)，约占全球发售基础发行股数的10%;国际发售3.14亿股(包括优先发售项下的1744.96万股预留股份， 可予重新分配及视乎超额配售权行使与否而定)，约占全球发售基础发行股数的90%。 紫金黄金国际本次发行的价格确定为71.59港元/股。紫金黄金国际香港公开发售于2025年9月19日开 始，预计于2025年9月24日结束。紫金黄金国际本次发行的新股预计于2025年9月29日在香港联交所挂牌 并开始上市交易。 紫金矿业（601899）(601899.SH)发布公告，2025年9月19日，公司收到所属子公司紫金黄金国际有限公 司(简称"紫金黄金国际")通知，其已于当日在香港联交所网站刊登本次发行上市的招股说明书。 ...

Core Viewpoint - Zhaojin Mining (01818) has announced a cornerstone investment agreement involving its wholly-owned subsidiary, Spico International Limited, with Zijin International and several financial institutions, indicating a strategic partnership aimed at enhancing growth and long-term shareholder returns [1] Group 1: Investment Details - The cornerstone investment agreement was signed on September 17, 2025, with an expected investment amount of USD 30 million, equivalent to a certain amount in Hong Kong dollars [1] - The agreement involves the subscription of shares by the investor at the offer price as part of an international offering [1] Group 2: Company Background - Zijin International is a subsidiary of Zijin Mining (601899), focusing on gold mining, smelting, and sales, and is a significant player in the global gold mining industry [1] - The cornerstone investment is seen as beneficial for deepening the strategic cooperation between Zhaojin Mining and Zijin Mining, which is expected to support the company's growth [1]

紫金国际是紫金矿业旗下专注于黄金开采、冶炼及销售的国际化平台，是全球黄金矿业中的重要参与 者。公司认为，基石投资可进一步加深公司与紫金矿业战略合作关系，对公司维持增长以及为股东带来 长期回报而言实属有利。 智通财经APP讯，招金矿业(01818)发布公告，于2025年9月17日，斯派柯国际有限公司(公司全资附属公 司，作为投资者)与紫金国际(作为发行人)、摩根士丹利、中信证券及中信里昂订立基石投资协议，据 此，投资者有条件同意按发售价认购投资者股份，作为国际发售一部分，该等投资者股份投资金额预计 为3000万美元的等值港元金额。 ...

格隆汇9月19日丨招金矿业(01818.HK)发布公告，2025年9月17日，斯派柯国际有限公司(公司全资附属 公司，作为投资者)与紫金国际(作为发行人)、摩根士丹利、中信证券及中信里昂订立基石投资协议，据 此，投资者有条件同意按发售价认购投资者股份(即投资者根据基石投资协议将予认购的紫金国际 (02259.HK)股份)，作为国际发售一部分，该等投资者股份投资金额预计为3000万美元的等值港元金额 (不包括经纪佣金及征费)。 公告表示，紫金国际是紫金矿业旗下专注于黄金开采、冶炼及销售的国际化平台，是全球黄金矿业中的 重要参与者。公司认为，基石投资可进一步加深公司与紫金矿业战略合作关系，对公司维持增长以及为 股东带来长期回报而言实属有利。 ...