Core Viewpoint - The company, Xiyes Co., Ltd., is demonstrating confidence in the market by announcing a share buyback plan of 100 million to 200 million RMB, aimed at reducing registered capital and enhancing shareholder value [1][2]. Group 1: Share Buyback Plan - Xiyes Co., Ltd. plans to repurchase shares at a price not exceeding 21.19 RMB per share, with a total investment between 100 million and 200 million RMB, potentially acquiring approximately 471,920 to 943,840 shares, which represents 0.29% to 0.57% of the total share capital [2]. - The buyback is seen as a strategy to boost stock prices, as the current market price is 14.48 RMB per share, which is 46% lower than the buyback price cap [2]. Group 2: Financial Performance - In Q1 2025, Xiyes Co., Ltd. reported a revenue of 9.729 billion RMB, a year-on-year increase of 15.82%, and a net profit attributable to shareholders of 499 million RMB, up 53.08% [1][4][5]. - The company has shown a consistent improvement in its financial health, with a decrease in the debt-to-asset ratio from 61.53% in 2020 to 40.22% in Q1 2025 [3]. Group 3: Research and Development - Xiyes Co., Ltd. is committed to innovation, with R&D expenses increasing significantly over the years, reaching 75.22 million RMB in Q1 2025, a year-on-year rise of 9.12% [5]. - The company plans to invest 270 million RMB in collaboration with Yunnan Tin Holdings and New Materials Company to enhance the Tin-Indium Laboratory, which focuses on comprehensive research and development across the tin-indium industry chain [5][6].

Report Industry Investment Rating No relevant content provided. Core View of the Report Based on macro - fundamental and technical analysis, the report predicts the trend of various futures on June 10, 2025, including股指期货,国债 futures, precious metals futures, base metals futures, energy futures, and chemical futures, and gives resistance and support levels [2][3]. Summary by Directory 1. Futures Market Outlook - **Stock Index Futures**: IF2506, IH2506, IC2506, and IM2506 are expected to oscillate strongly on June 10, 2025, with specific resistance and support levels provided. For the whole of June 2025, they are also expected to have a generally strong - oscillating trend [2][19]. - **Treasury Bond Futures**: The ten - year T2509 and thirty - year TL2509 are likely to oscillate strongly on June 10, 2025, with corresponding resistance and support levels [3][39]. - **Precious Metals Futures**: Gold futures AU2508 are expected to oscillate and consolidate on June 10, 2025, while silver futures AG2508 are likely to oscillate strongly and may hit a new high. For June 2025, gold futures are expected to have a wide - range strong - oscillating trend, and silver futures are expected to oscillate strongly and break through key resistance levels [3][45][50]. - **Base Metals Futures**: Copper (CU2507), aluminum (AL2507) futures are expected to oscillate strongly on June 10, 2025, while alumina (AO2509), zinc (ZN2507), nickel (NI2507), rebar (RB2510), hot - rolled coil (HC2510), iron ore (I2509) futures are likely to oscillate weakly. Different resistance and support levels are given for each [3][4][5]. - **Energy Futures**: Crude oil futures SC2507 are expected to oscillate strongly on June 10, 2025, with specific resistance and support levels. For June 2025, it is expected to have a wide - range strong - oscillating trend [5][95]. - **Chemical Futures**: PTA (TA509) futures are expected to oscillate and consolidate on June 10, 2025, while PVC (V2509), methanol (MA509), and natural rubber (RU2509) futures are likely to oscillate weakly, with corresponding resistance and support levels [7][101][103]. 2. Macro Information and Trading Tips - **Sino - US Economic and Trade Consultation**: The first meeting of the Sino - US economic and trade consultation mechanism was held in London on June 9 and continued on June 10 [8]. - **Domestic Policies**: The General Offices of the CPC Central Committee and the State Council issued an opinion on improving people's livelihood, and the State Council carried out a special study on promoting the integration of scientific and technological innovation and industrial innovation [8][9]. - **Economic Data**: In May, China's CPI decreased both month - on - month and year - on - year, and PPI was still at a low level. In the first five months, China's total import and export value increased by 2.5% year - on - year, with exports growing by 7.2% and imports decreasing by 3.8% [8][9]. - **International News**: The US Senate Republicans plan to propose a revised tax and healthcare bill, the US may hit the debt ceiling between mid - August and late September, and consumer inflation expectations in the US decreased in May [10]. 3. Commodity Futures - Related Information - **International Futures Market**: On June 9, international precious metals futures closed mixed, and international oil prices strengthened. The first recycled metal futures option, cast aluminum alloy, was listed on the Shanghai Futures Exchange on June 10 [12]. - **Exchange - Rate Information**: Hong Kong will maintain the linked exchange rate system, and the on - shore RMB against the US dollar rose on June 9. The US dollar index fell, and non - US currencies generally rose [12][13][14]. 4. Futures Market Analysis and Outlook - **Stock Index Futures**: On June 9, IF2506, IH2506, IC2506, and IM2506 all showed a trend of opening higher, rising and then falling back, with different degrees of increase. The A - share market oscillated and rebounded, and the Hong Kong stock market was strong [14][15][16][17]. - **Treasury Bond Futures**: On June 9, the ten - year T2509 and thirty - year TL2509 both showed a trend of opening higher, rising and then falling back, with different degrees of increase. The central bank carried out 1738 billion yuan of 7 - day reverse repurchase operations, resulting in a net investment of 1738 billion yuan [36][41]. - **Precious Metals Futures**: On June 9, gold futures AU2508 fell, while silver futures AG2508 rose and hit a new high [45][50]. - **Base Metals Futures**: On June 9, copper, aluminum, alumina, zinc, nickel, rebar, hot - rolled coil, and iron ore futures showed different trends of rise and fall [54][59][63][68][71][77][80][83]. - **Energy Futures**: On June 9, crude oil futures SC2507 rose [95]. - **Chemical Futures**: On June 9, PTA, PVC, methanol, and natural rubber futures showed different trends of rise and fall [101][103][105][108].

Core Viewpoint - The metal industry is expected to see steady profit growth in 2024 and the first quarter of 2025, with gold, nickel, cobalt, tin, antimony, rare earth magnetic materials, and copper leading the sector [1] Industry Summary - The current valuation of the metal industry remains relatively low, with aluminum, copper, nickel, cobalt, tin, and antimony at comparatively low levels, indicating potential for valuation recovery [1] - The trend of increasing dividend returns in the industry continues, with some individual stocks offering dividend yields exceeding 5%, reflecting an ongoing enhancement in shareholder return capabilities [1] - Looking ahead to the second half of 2025, the industry should focus on investment opportunities in gold, rare earths, copper, aluminum, tin, and tungsten, particularly in the context of trade disputes and the gradual implementation of liquidity and fiscal policies [1]

Group 1 - The Trump administration is considering a two-step tariff strategy, which includes imposing emergency tariffs before completing investigations on trade partners [1][2] - The proposed plan aims to establish a solid legal framework for reciprocal tariffs while generating funds for Trump's planned tax cuts [1][2] - The administration is discussing the use of the International Emergency Economic Powers Act or a lesser-known provision of the 1930 Tariff Act, which could impose tariffs as high as 50% on trade partners [1][2] Group 2 - Trump has promised to announce new tariff policies on April 2, referred to as "Liberation Day," leading countries to lobby for exemptions [2][4] - The internal debate within the administration reflects differing views on the purpose of tariffs, with some officials focusing on revenue generation for tax cuts rather than using tariffs as negotiation tools [2][3] - The U.S. Trade Representative is increasingly taking on a legal planning role, advocating for investigations of trade partners before imposing tariffs, which may take up to six months [3] Group 3 - The White House is committed to creating a fair competitive environment for U.S. businesses and workers, with plans to advance the tariff strategy on April 2 [4] - The upcoming tariff policy is seen as an evolution of Trump's previous proposals to impose tariffs on U.S. exporters, which have been inconsistent and often reversed under corporate pressure [4] - Since taking office, Trump has imposed a uniform 25% tariff on all steel and aluminum imports, with threats of retaliatory tariffs on French wine and other products following the EU's response to U.S. metal tariffs [4]