Market Performance - On the first trading day of October, A-shares opened higher, with the Shanghai Composite Index surpassing 3900 points for the first time in ten years, closing at 3933.97 points, up 1.32% [1] - The Shenzhen Component Index rose by 1.47%, while the ChiNext Index increased by 0.73%, and the STAR Market 50 Index surged by 2.93% [1] - The total market turnover reached 2.67 trillion yuan, an increase of 474.6 billion yuan compared to the previous trading day, with over 3100 stocks rising and nearly 100 stocks hitting the daily limit [1] Sector Performance - Precious metals and gold sectors saw a surge, with multiple stocks like Zhaojin Mining and Zhongjin Gold hitting the daily limit due to rising international gold prices during the National Day holiday [1] - The controlled nuclear fusion sector experienced significant growth following recent milestone advancements, with Guoguang Electric hitting a 20% limit up [1] - The rare earth sector also rose due to export controls on related items, with stocks like Northern Rare Earth and Antai Rare Earth reaching their daily limits [1] - Other sectors such as small metals, non-ferrous metals, lithium mining concepts, and superconducting concepts showed strong performance [1] Declining Sectors - The tourism and hotel sector declined, with daily per capita consumption during the holiday dropping by 13% year-on-year, leading to a more than 8% drop in stocks like Caesar Travel [1] - The real estate service sector also faced losses, with Huangting International hitting the daily limit down [1] - The film and television sector weakened due to lower box office revenues compared to the previous year, with stocks like China Film and Hengdian Film hitting their daily limits down [1] - Other sectors such as duty-free, short drama concepts, and millet economy also experienced significant declines [1] Top Gainers and Fund Inflows - Precious metals topped the gainers list with a 9.28% increase, followed by basic metals at 6.52% and power generation equipment at 6.279% [2] - The electricity sector rose by 2.89%, while steel and coal sectors increased by 2.83% and 2.749% respectively [2]

Core Viewpoint - The Ministry of Commerce announced export controls on certain rare earth items and technologies, leading to a significant rise in the rare earth and rare metal sectors, with the rare earth ETF (159713) experiencing a peak increase of 5.71% during trading [1] Group 1: Market Reaction - The rare earth ETF (159713) saw a trading volume of 155 million shares and a transaction value of 202 million yuan, reaching a record high since its listing [1] - Key stocks in the sector, such as Jiuling Technology and Jinli Permanent Magnet, surged over 13% and 10% respectively, while companies like Antai Technology and Goldwind Technology hit the 10% daily limit [1] Group 2: Strategic Importance - The strategic value of rare earths is expected to increase due to the government's strengthened control over production quotas and export management, reinforcing their role as a critical resource for high-end manufacturing and emerging industries [1] - The dual resonance of supply and demand is evident, with the government ensuring resources are directed towards high-end applications while global green transitions and carbon neutrality goals are driving demand for key elements like praseodymium and neodymium [1] Group 3: Long-term Drivers - The strategic position of the rare earth industry is likely to be further solidified amid rising supply concentration and demand structure upgrades, providing long-term momentum for high-end manufacturing development [1] - The rare earth ETF (159713) is positioned to help investors easily access the rare earth industry chain [1]

据商务部网站，稀土相关物项具有军民两用属性，对其实施出口管制是国际通行做法。今年4月，中国 政府对部分稀土物项实施出口管制。有关稀土技术早在2001年已经列入《中国禁止出口限制出口技术目 录》。相关出口需遵守法律程序要求。 新闻发言人介绍道，今年以来，国家出口管制工作协调机制办公室组织开展打击战略矿产走私出口专项 行动，取得积极成效。同时，有关部门也发现部分境外组织和个人从中国非法获取稀土技术，生产稀土 相关物项并提供给军事等敏感领域用户或者用于军事等敏感领域用途，对中国国家安全和利益造成重大 损害或潜在威胁，对国际和平稳定造成不利影响。为防范相关风险，中国政府经审慎评估后，决定对稀 土相关技术实施出口管制，同时对中国组织和个人从事相关活动作出明确规定，以更好维护国家安全和 利益，更好履行防扩散等国际义务，同时也保障全球稀土产业链供应链安全稳定。 南都讯 记者杨文君发自北京 10月9日上午，商务部发布两项关于加强稀土相关物项出口管制的公告，即 《商务部公告2025第61号公布对境外相关稀土物项实施出口管制的决定》和《商务部公告2025第62号公 布对稀土相关技术实施出口管制的决定》。商务部新闻发言人就公告相关 ...

Core Viewpoint - The rare earth permanent magnet sector in A-shares has seen significant gains, driven by new export control announcements from the Chinese Ministry of Commerce regarding rare earth-related items and technologies [1][5][8]. Group 1: Market Performance - As of 13:30, the rare earth permanent magnet concept index rose over 4%, with notable stock performances including Jiuling Technology up over 13%, Jieli Permanent Magnet up over 11%, and Antai Technology hitting the daily limit [1]. - Other companies in the sector, such as Northern Rare Earth, Zhongmin Resources, Baogang Co., and China Rare Earth, also experienced gains [1]. Group 2: Export Control Announcements - The Ministry of Commerce issued two announcements regarding the export control of certain rare earth-related items, with the first announcement (2025 No. 61) targeting items containing Chinese components and the second (2025 No. 62) focusing on rare earth-related technologies [5][8]. - The measures are aimed at protecting national security and interests, as well as fulfilling international obligations related to non-proliferation [8].

Core Insights - The Ministry of Commerce has announced strengthened export controls on rare earth-related items, highlighting the strategic importance of rare earth resources and increasing market attention on the rare earth sector [1] - The price of rare earths continues to rise due to supply and demand factors, with significant trading volume in rare earth ETFs, indicating heightened investor interest [1] - The strategic position of the rare earth industry is expected to be further solidified, driven by both domestic policy and global demand for key elements like praseodymium and neodymium [2] Industry Overview - Rare earths are critical resources for high-end manufacturing and strategic emerging industries, with supply and demand dynamics creating a resonant pattern [2] - China's export control measures are designed to ensure resources are directed towards high-end applications, enhancing the country's strategic control over the industry [2] - The global transition towards green technologies and carbon neutrality goals is driving demand for rare earth elements, particularly in new applications like permanent magnets [2] Market Performance - The rare earth ETF (516780) and its linked funds have shown strong performance, with the underlying index gaining 94.69% over the past year, reflecting robust growth in the rare earth sector [3] - The top five constituents of the index include leading companies in the global rare earth industry, collectively accounting for 41% of the index weight [3] - The management of the rare earth ETF is backed by a fund manager with over 18 years of experience, indicating a strong capability in index investment management [3] Historical Returns - The rare earth ETF has experienced varying returns since its inception, with a return of 42.85% in 2021, followed by negative returns in 2022 and 2023, and a recovery of 16.00% in the first half of 2025 [4] - The performance of the ETF is benchmarked against the China Securities Rare Earth Industry Index, which has shown significant fluctuations over the same periods [4]

Group 1 - The A-share rare earth permanent magnet sector experienced a strong surge, with stocks like Antai Technology and Zhongkuang Resources seeing significant increases in their share prices [1] - Critical Metals has entered a strategic supply agreement with REalloys Inc., committing to supply 15% of the annual rare earth concentrate output from its Tanbreez project in Greenland [3] - The U.S. government is actively working to rebuild its domestic rare earth supply chain, aiming for complete independence in rare earth supply [5] Group 2 - The new export control regulations from the Chinese government require licenses for non-controlled items if they are known to be used for overseas rare earth activities, aiming to maintain national resource security [6] - The A-share rare earth permanent magnet sector includes 58 stocks, with Northern Rare Earth being the largest supplier of light rare earth products, holding significant mining rights [7] - Companies like Jieli Permanent Magnet are leading in high-performance neodymium-iron-boron permanent magnet materials, with substantial production capacity and strong customer relationships in the electric vehicle and home appliance sectors [7]

Core Points - China has announced two measures to strengthen export controls on rare earth-related items and technologies, citing national security and international obligations as primary reasons [1][2] - The measures aim to prevent the illegal acquisition of rare earth technologies by foreign organizations and individuals, which have been used in military applications, posing a threat to China's national interests [2] Group 1: Export Control Measures - The Ministry of Commerce has implemented export controls on certain rare earth-related items containing Chinese components, as these items have dual-use properties [1] - The scope of the controlled items is limited, and various licensing facilitation measures will be adopted to ease compliance for eligible exporters [1] - Exports for humanitarian purposes, such as emergency medical responses and disaster relief, will be exempt from licensing requirements [1] Group 2: National Security and Compliance - The Chinese government has identified risks associated with foreign entities illegally obtaining rare earth technologies, which could be used in sensitive military applications [2] - The new regulations are designed to better safeguard national security and fulfill international non-proliferation obligations while ensuring the stability of the global rare earth supply chain [2]

融资方面，中国稀土当日融资买入2.68亿元。当前融资余额23.09亿元，占流通市值的4.21%，融资余额 超过近一年90%分位水平，处于高位。 来源：新浪证券-红岸工作室 9月30日，中国稀土涨3.96%，成交额29.21亿元。两融数据显示，当日中国稀土获融资买入额2.68亿 元，融资偿还2.72亿元，融资净买入-367.05万元。截至9月30日，中国稀土融资融券余额合计23.22亿 元。 资料显示，中国稀土集团资源科技股份有限公司位于江西省赣州市章贡区章江南大道18号豪德银座A栋 14、15层，成立日期1998年6月17日，上市日期1998年9月11日，公司主营业务涉及稀土冶炼分离及稀土 技术研发及服务。主营业务收入构成为：稀土氧化物63.51%，稀土金属及合金35.95%，其他(补 充)0.35%，技术服务收入0.18%。 融券方面，中国稀土9月30日融券偿还3000.00股，融券卖出4800.00股，按当日收盘价计算，卖出金额 24.84万元；融券余量24.59万股，融券余额1272.53万元，低于近一年50%分位水平，处于较低位。 截至9月19日，中国稀土股东户数23.00万，较上期增加6.66%；人 ...

10月9日，三大指数集体高开，涨幅持续扩大。截至午间收盘，上证指数涨1.24%报3931.07点，深证成指涨1.75%，创业板指涨1.77%， 北证50涨0.25%，科创50涨5.59%，全A涨1.45%，A500涨1.63%，中证A500涨1.72%，A股半日成交1.73万亿元，全市场超3200只个股上 涨。 富时中国A50指数期货大涨1.24％，报15282。 | | | F9 叠加 九转 画线 工具 您 » | | | 富时中国A50期货 | | CN | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 2025/10/09 | | | | | | | | V nr | 当前为延时行情，点此获取实时行情 | 1.62% | | 15282 +187 +1.24% | | | | | | | 1.08% | | SGX USD 11:23:45 延时10分钟 | | | | | | | | = | 15282 | 1 | -3 | | | | | | दो | 15281 | 36 | -4 | | | | | 0.54% | 总量 | 23 ...

消息面上，10月9日，商务部公布对稀土相关技术实施出口管制的决定。公告称，以下物项未经许可不 得出口：稀土开采、冶炼分离、金属冶炼、磁材制造、稀土二次资源回收利用相关技术及其载体。稀土 开采、冶炼分离、金属冶炼、磁材制造、稀土二次资源回收利用相关生产线装配、调试、维护、维修、 升级等技术。 金力永磁（300748）(06680)涨超3%，截至发稿，涨3.08%，报24.74港元，成交额3.43亿港元。 兴业证券此前指出，国内供给优化叠加海外放量缓慢，中国稀土（000831）供给端优势难以取代。中国 稀土储量和产量在全球范围内均占据主导地位，且中国稀土开发具有全产业链优势，在国内实行总量指 标控制背景下，中国稀土供给增速或将持续放缓。短期内中国在全球稀土供给格局中仍占据主导地位， 在中国实行稀土总量控制的背景下，全球稀土供给增速或将放缓。拥有稀缺资源端和冶炼端产能及配额 的企业或将收益。 商务部新闻发言人就加强稀土相关物项出口管制应询答记者问，今年4月，中国政府对部分稀土物项实 施出口管制。有关稀土技术早在2001年已经列入《中国禁止出口限制出口技术目录》。相关出口需遵守 法律程序要求。今年以来，国家出口管制工 ...