5月12日，中美资产双双大涨，避险资产出现回落。 消息面上，《中美日内瓦经贸会谈联合声明》今日发布。 中泰国际策略分析师颜招骏在接受南财快讯记者采访时表示，中美双方关税税率短时间内的大幅下调超 出了市场预期，对港股、美股及全球资产均会产生积极影响。此举可能会降低美国通胀反弹风险，为美 联储六月降息创造空间，进一步利好中国资产。 具体来看，恒生科技指数一度涨超6%，恒生指数、恒生国企指数也一度涨超3.5%。截至收盘，香港恒 生指数涨2.98%，恒生国企指数涨3.01%，恒生科技指数涨5.16%。 港股科技股巨头涨幅持续扩大，阿里巴巴-W(09988.HK)、京东集团(09618.HK)涨超6%，腾讯控股 (00700.HK)涨超4.5%。 港股苹果指数也直线拉升，收涨13.40%。成分股份中高伟电子（01415.HK）涨超18%，瑞声科技 （02018.HK）涨超15%，比亚迪电子（00285.HK）、舜宇光学科技（02382.HK）、丘钛科技 美股期货走高，纳指期货涨超3.4%，道指期货涨近2%，标普500指数期货也涨超2.5%。 美股盘前热门中概股普涨，万国数据（GDS）涨超10%，小鹏汽车（XPEV）涨超 ...

Group 1: Market Reaction to US-China Trade Talks - The joint statement from the US-China Geneva trade talks led to a significant rise in Hong Kong's stock indices, with the Hang Seng Index increasing by 2.98%, the Hang Seng China Enterprises Index rising by 3.01%, and the Hang Seng Tech Index surging by 5.16% [1] Group 2: Performance of Apple-Related Stocks - Apple-related stocks saw substantial gains, with notable increases such as Highway Electronics up 18.45%, AAC Technologies up 15.37%, Sunny Optical Technology up 14.83%, and Q Tech up 13.45% [1] Group 3: Apple Price Cuts and Future Strategy - Apple announced price cuts for the iPhone 16 Pro Max by $160 and the iPhone 16 Pro by $176, with a shift in its iPhone release strategy starting in 2026, introducing base models in the first half and Pro, ultra-thin, and foldable models in the second half [1] Group 4: Technology Sector Performance - Technology-related stocks, including short video, cloud computing, and gaming sectors, experienced gains, with companies like Weimob up 7.74%, Bilibili up 6.63%, and JD.com up 6.39% [2] Group 5: Brokerage Stocks Surge - Chinese brokerage stocks saw collective gains, with Hongye Futures up 14.44%, CICC up 7.24%, and China Galaxy up 6.73%, attributed to recent interest rate cuts that enhance market liquidity [2] Group 6: Port Transportation and Automotive Stocks - Port transportation stocks performed well, with COSCO Shipping Holdings up 8.52% and COSCO Shipping Energy up 4.34%. Additionally, electric vehicle stocks like BYD Electronics rose by 13.79% and Xpeng Motors by 10.64% [3] Group 7: Decline in Biopharmaceutical and Gold Stocks - Biopharmaceutical stocks fell, with BeiGene down 8.97% and Zai Lab down 5.51%, influenced by US policy changes aimed at reducing drug prices. Gold stocks also declined, with Lingbao Gold down 11.23% following a drop in spot gold prices [4]

5月12日，中美日内瓦经贸会谈联合声明，全球风险资产闻声大涨，港股尾盘爆拉。 截至收盘，恒生科技指数收涨5.16%，恒生指数、国企指数分别上涨2.98%及3.01%，恒指上扬近700点。 | 名称 へ | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | | 恒生指数 | | 23549.46 | +681.72 | +2.98% | | 800000 | Ship of the | | | | | 国企指数 | | 8559.23 | +250.40 | +3.01% | | 800100 | | | | | | 恒生科技指数 | | 5447.35 | +267.10 | +5.16% | | 800700 | Sun | | | | 盘面上，大型科技股拉升走强，其中，京东、阿里巴巴涨超6%；大金融股(银行、保险、券商)、中字头等权重股齐涨；由于中美贸易战缓和，苹果概念股、 汽车股、家电股、海运股尾盘涨幅进一步扩大；军工股、手游股、航空股、半导体股、光伏股纷纷上涨。反之，黄金股逆势大跌，药品股普遍走低。 | 行业热力图 × | 领涨板块 | | | | ...

Group 1 - The Hang Seng Index rose by 2.98% while the Hang Seng Tech Index increased by 5.16% [1] - Sunny Optical Technology surged over 14%, Xiaopeng Motors increased by over 10%, Alibaba rose by over 6%, and Tencent Holdings gained over 4% [1] - Stocks related to gold, such as Lingbao Gold and Chifeng Jilong Gold, fell over 11%, while Shandong Gold dropped over 6% [1]

Market Performance - The Hong Kong stock market showed a general upward trend, with the Hang Seng Index rising by 0.37%, the Hang Seng China Enterprises Index increasing by 0.7%, and the Hang Seng Tech Index up by 0.56%, marking a six-day consecutive rise for the Hang Seng Index [2][3] Sector Performance - The military, automotive, and cryptocurrency-related stocks performed well, while semiconductor and gold stocks weakened [3] - Military stocks surged due to external events, with China Aerospace Science and Industry Corporation, China Shipbuilding Industry Corporation, and Aerospace Technology Holdings rising by 6.23%, 6.02%, and 2.50% respectively [3] - Ideal Automotive led the automotive sector, with Ideal Automotive-W, Geely Automobile, and Great Wall Motors increasing by 4.96%, 4.41%, and 4.25% respectively [3] - Cryptocurrency-related stocks also saw significant gains, with New Fire Technology Holdings, Boya Interactive, and OK Blockchain rising by 19.75%, 10.38%, and 9.49% respectively [3] Company News - Ideal Automotive announced the launch of the Ideal L series smart upgraded models, with the Ideal L6 priced at 249,800 yuan and 279,800 yuan for its two configurations [3] - Geely Automobile plans to acquire all issued shares of Zeekr, in which it currently holds approximately 65.7% [3] - Bitcoin surpassed $99,000, leading to a rise in related Hong Kong stock ETFs, with gains of 5.56%, 5.40%, and 5.13% for various Ethereum ETFs [3] Gold Stocks - Gold stocks experienced a decline, with Chifeng Jilong Gold Mining, Zhaojin Mining Industry, and China Gold International falling by 4.72%, 2.18%, and 2% respectively [4] - The drop in gold stocks is attributed to easing signals regarding US-China tariffs, despite the People's Bank of China increasing its gold reserves to 73.77 million ounces by the end of April [4] Market Outlook - Dongwu Securities indicated that the rebound in the Hong Kong stock market relies on continued inflow of southbound funds and foreign capital return, with the Hong Kong dollar reaching a strong exchange guarantee at 7.75 [4] - Zheshang Securities suggested a "cautiously optimistic" strategy as the market trends have entered a right-side phase on weekly and monthly levels [4]

金十数据5月7日讯，两名知情人士表示，上周末，一支从马里首都巴马科向联合黄金公司（Allied Gold，总部位于加拿大）Sadiola矿场运送重型采矿设备的车队在Kayes地区遭到袭击。这次袭击表明， 在萨赫勒国家联盟国家（马里、尼日尔和布基纳法索）经营的矿业公司面临的安全风险正在扩大，这些 国家正在努力遏制激进组织。 马里发生采矿车队遇袭事件 ...

Group 1 - China's macroeconomic policies will become more proactive, aiming for a GDP growth target of around 5% by 2025, with a strong start in Q1 2025 showing a 5.4% year-on-year growth [1] - The positive economic outlook is expected to boost market confidence, particularly in sectors closely related to macroeconomic performance such as finance, infrastructure, and consumption [1] - The People's Bank of China and other financial regulatory bodies will introduce a comprehensive financial policy package to stabilize the market and manage expectations [2] Group 2 - The onshore RMB appreciated significantly, rising nearly 600 points to its highest level since November 2024, closing at 7.2169 against the USD, which is seen as a stabilizing factor for the financial market [3] - During the May Day holiday, UnionPay and NetUnion processed 23.439 billion payment transactions amounting to 7.64 trillion yuan, reflecting a year-on-year increase of 20.49% in transaction volume and 3.21% in value [4] - The significant growth in payment transactions from foreign visitors during the holiday indicates a strong recovery in domestic consumption and enhances the attractiveness of China's tourism market [4] Group 3 - Following the May Day holiday, international gold prices surged, with COMEX gold reaching $3,390 per ounce and spot gold surpassing $3,380 per ounce, reflecting increased demand for safe-haven assets amid global economic uncertainties [5] - The rise in gold prices is expected to benefit gold-related companies, enhancing their performance expectations, although it may pressure profit margins for jewelry brands unless they can maintain pricing power [5]

每经记者 闫峰峰 每经编辑 吴永久 近日，在关税政策扰动下，黄金价格大幅波动，成为市场的焦点。黄金价格不仅持续创出历史纪录，上海期货交易所的黄金期货单日成交额也破万亿元，创 出了历史新高，而这也使得A股黄金股表现异常活跃。而在市场预期关税战缓和以及美国4月非农就业数据好于预期的刺激下，近期金价出现持续回落。 在当地时间5月3日举行的伯克希尔哈撒韦股东大会上，巴菲特表示，美国的财政政策可能会侵蚀美元的价值，多次提到美元贬值的风险。他表示不会投资于 会大幅贬值的货币，并指出美国当前的财政赤字模式不可持续。 在巴菲特对美元罕见"警告"后，5月5日美元指数下行，CMX黄金期货价格重拾升势，盘中涨幅超1%。而在历史上，黄金价格与美元指数多数时间呈现负相 关关系。可见，如果美元持续贬值，那么将利好金价。在黄金牛市的背景下，不少投资者也开始关注黄金股，甚至想长期价值投资黄金股，就相当于投资了 黄金。那么黄金股的股价和黄金价格之间存在什么关系？当前的黄金股机会到底如何？后期又面临哪些风险？对此，每经资本眼记者结合黄金历史走势及相 关投资案例梳理了五大真相。 所以，从投资黄金股的角度来讲，如果看好黄金价格未来的持续上涨，不仅应 ...

Core Insights - Sichuan Gold (001337.SZ) reported a total operating revenue of 208 million yuan for Q1 2025, an increase of 18.44 million yuan compared to the same period last year, marking a 9.71% year-on-year growth [1] - The net profit attributable to shareholders reached 95.87 million yuan, up by 19.10 million yuan from the previous year, reflecting a 24.87% increase year-on-year [1] Financial Performance - The company's operating cash flow net inflow was 95.59 million yuan, ranking 5th among disclosed peers [1] - The latest debt-to-asset ratio is 22.48%, ranking 4th among peers, down by 4.71 percentage points from the previous quarter and 1.87 percentage points from the same period last year [3] - The gross profit margin stands at 63.16%, ranking 1st among peers, with a 6.55 percentage point increase from the previous quarter and a 6.45 percentage point increase year-on-year [3] - Return on equity (ROE) is 6.15%, also ranking 1st among peers, with an increase of 0.81 percentage points compared to the previous year [3] - The diluted earnings per share (EPS) is 0.23 yuan, ranking 4th among peers, with a year-on-year increase of 27.78% [3] - The total asset turnover ratio is 0.10 times, remaining stable compared to the previous year, with a 2.57% year-on-year increase [3] - The inventory turnover ratio is 0.90 times [3] Shareholder Structure - The number of shareholders is 42,600, with the top ten shareholders holding 298 million shares, accounting for 71.02% of the total share capital [3] - The largest shareholder is Sichuan Gold Group Co., Ltd., holding 31.3% of the shares [3]

四川黄金股份有限公司 投资者关系活动记录表 编号：2025-001 | | □特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 ☑业绩说明会 | | 投资者关系活动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他（请文字说明其他活动内容） | | 活动参与人员 | 副董事长、总经理吴安东先生，独立董事刘云平先生，副 | | | 总经理、董事会秘书周立先生，财务总监汤敏女士 | | 时间 | 年 月 日下午 2025 4 29 3:00~4:00 | | 地点 | 在全景网"投资者关系互动平台"（https://ir.p5w.net） | | 形式 | 网络文字互动方式 | | | 1、2025 年重大资本开支转固的项目有哪些？ | | | 尊敬的投资者，您好！2025 年固定资产投资情况请 | | | 参见公司定期报告。感谢您的关注，谢谢！ | | | 2、吴总：公司的毛利率是所有黄金矿公司中最佳的， | | | 关键还是产能需要提高，希望公司能增加产能与销售来回 | | | 报所有股东的投资 | | | 您好，感谢您的建议，公司会认真考虑。感谢您对 ...