Market Overview - The ongoing tariff war continues to impact the capital markets, with the Hang Seng Index dropping 1.91% to close at 21,056.98 points, marking the end of a six-day rally [1] - The Hang Seng Technology Index fell nearly 5%, while the Hang Seng China Enterprises Index decreased by 2.55% [1] - Despite the short-term risks, the market has structural support due to domestic demand orientation, continuous southbound capital support, and relatively stable RMB exchange rates [1] Blue Chip Performance - China Resources Mixc Lifestyle (01209) led blue-chip gains, rising 3.01% to HKD 37.7, contributing 1.23 points to the Hang Seng Index [2] - Longfor Group (00960) and China Resources Land (01109) both increased by 1.9%, contributing 0.65 points and 2.65 points respectively [2] - Xinyi Solar (00968) and Sunny Optical Technology (02382) faced declines of 6.62% and 4.76%, dragging the index down by 1.42 points and 3.57 points respectively [2] Sector Highlights - Large tech stocks experienced significant declines, with Alibaba dropping over 4% and Tencent down 1.75% [3] - Gold stocks surged as international gold prices surpassed USD 3,300 per ounce, with notable gains in companies like Chifeng Jilong Gold Mining (06693) up 21.17% [3][4] - Real estate stocks saw some upward movement, with Sunac China (01918) rising 5.63% and Longfor Group (00960) increasing by 1.9% [4][5] Apple Concept Stocks - Apple-related stocks faced significant declines, with companies like Cowell e Holdings (01415) and Sunny Optical (02382) dropping 7.97% and 4.76% respectively [5] - The U.S. Customs and Border Protection updated import tariffs, which may affect the pricing of consumer electronics, although some products were temporarily exempted [5][6] Automotive Sector - The automotive sector collectively declined, with XPeng Motors (09868) down 6.92% and Li Auto (02015) down 3.93% [6] - The U.S. announced a 25% tariff on imported cars starting April 3, 2024, but the impact on Chinese exports to the U.S. is expected to be minimal [6] Notable Stock Movements - Man Kwan Group (03390) saw a dramatic drop of 90.26% before being suspended, following a significant decline in revenue and profit [7] - Lion Group (02562) surged by 27.36%, attributed to increased consumer interest in Chinese shopping apps in the U.S. [8]

< 美股盘前：半导体股大跌，阿斯麦跌约5%，公司Q1新增订单锐减45%，远不及预期，维持全年销售指 引不变；台积电跌约4%。中概股多数下跌，小鹏汽车跌约4%，京东跌约5%。现货黄金站上3300美元/ 盎司，续创历史新高，黄金股普涨，哈莫尼黄金涨约7%。 | 美股半导体股 √ | 当前价 ◆ | 涨跌幅 # 成交量 * | 总市值 ; 年初至今 ; | ు | | --- | --- | --- | --- | --- | | 阿斯麦 | 683.16 | +10.29 (+1.53%) 210.56万股 | 2686.76亿 -1.22% | a … | | US ASML | 646.60 | -36.56(-5.35%) 盘前 | | | | 台积电 | 157.33 | +1.49 (+0.96%) 1430.66万股 | 8159.99亿 -20.02% | @ … | | US TSM | 151.69 | -5.64 (-3.58%) 盘前 | | | | 超微电脑 | 33.48 | +0.36 (+1.09%) 2766.13万股 | 198.70亿 +9.84% | = == | | US ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 SHANDONG GOLD MINING CO., LTD. 經 初 步 測 算，預 計2025年第一季度實現歸屬於母公司所有者的淨利潤為人民幣 9.50億元至人民幣11.30億 元，與 上 年 同 期 相 比 增 加 人 民 幣2.50億元到人民幣4.30 億 元，同 比 增 加35.74%到61.45%。 預 計2025年第一季度實現歸屬於母公司所有者的扣除非經常性損益後的淨利 潤為人民幣9.51億元至人民幣11.31億 元，與 上 年 同 期 相 比 增 加 人 民 幣2.42億 元 到人民幣4.22億 元，同 比 增 加34.05%到59.41%。 山東黃金礦業股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：1787） 2025年第一季度業績預增公告 本公告由山東黃金礦業股份有 ...

Core Viewpoint - Shandong Gold expects strong business growth in Q1 2025, with net profit projected to be between 9.50 billion to 11.30 billion yuan, representing a year-on-year increase of 35% to 61% due to internal operational optimization and rising gold prices [1][3] Financial Performance - For Q1 2025, net profit is expected to be between 9.50 billion to 11.30 billion yuan, an increase of 2.50 billion to 4.30 billion yuan compared to the same period last year, reflecting a growth of 35.74% to 61.45% [1] - The non-GAAP net profit is projected to be between 9.51 billion to 11.31 billion yuan, with a year-on-year increase of 34.05% to 59.41% [1] - In 2024, the company achieved a revenue of 82.52 billion yuan, a year-on-year increase of 39.21% [6] - The net profit attributable to shareholders was 29.52 billion yuan, up 26.80% year-on-year [6] - Operating cash flow net amount reached 13.34 billion yuan, a significant increase of 94.78% compared to the previous year [6] Operational Efficiency - The increase in profit is attributed to optimized production layout, enhanced core technology, and improved management efficiency, which collectively boosted operational effectiveness [3] - The company reported a gold production of 46.17 tons in 2024, a growth of 10.51% year-on-year, with all 12 mines producing over 1 ton of gold annually [4] Resource Expansion - Shandong Gold's gold resource reserves reached 2058.46 tons by the end of 2024, with an increase in the proportion of overseas gold production to 10.91% [4] - The company is actively expanding its resource reserves through projects like the Namutini Gold Mine, which has entered the trial production phase, and acquisitions such as the exploration rights for the Xiling Gold Mine [5]

一、行情回顾 沪指全天震荡反弹，深成指、创业板指高开回落。大消费板块集体走高，体育、零售、食品等多个分支大涨，金陵体育、舒华体育、南宁百货、国芳集团、 绝味食品、双塔食品等多股涨停。海南本地股爆发，海马汽车、海汽集团、海南椰岛等封板。黄金股再度大涨，华钰矿业、湖南黄金涨停。个股涨多跌少， 沪深京三市超4500股飘红，今日成交1.31万亿。截止收盘沪指涨0.76%，深成指涨0.51%，创业板指涨0.34%。 二、当日热点 1、体育 早盘体育板块爆发，康力源、金陵体育、久祺股份悉数20cm涨停，新华都、浙江永强、舒华体育等集体涨停。 海南板块今日再度爆发，海汽集团、海南发展4天2板，双成药业3天2板，海德股份、京粮控股、海马汽车等集体上板。 | | | 最新价 = | 涨跌幅 ◆ | 涨停时间 = | 将于承 | 流通市值 ◆ | | --- | --- | --- | --- | --- | --- | --- | | 泰慕士 001234.SZ | 3天2板 | 21.12 | +10.00% | 09:25:00 | 2.49% | 19.11亿 | | 英派斯 002899.SZ | 3天2板 | 21. ...

二、前10名无限售条件股东持股情况 一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | 0.5900 | 0.5100 | 15.69 | 0.5500 | | 每股净资产（元） | 3.47 | 3.23 | 7.43 | 2.33 | | 每股公积金(元) | 1.06 | 1.06 | 0 | 0.32 | | 每股未分配利润(元) | 1.21 | 1.04 | 16.35 | 0.92 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 6.4 | 6.29 | 1.75 | 4.72 | | 净利润(亿元) | 2.48 | 2.11 | 17.54 | 1.99 | | 净资产收益率(%) | 17.63 | 17.26 | 2.14 | 26.82 | 数据四舍五入，查看更多财务数据>> | 名称 | 持有数量(万股) | 占总股本 | 增减情 | | --- | --- | --- ...

Market Overview - The market opened high and fluctuated throughout the day, with the Shanghai Composite Index returning above 3200 points, and both the Shenzhen Component and ChiNext Index rising over 2% [1] - The consumer sector showed strong performance, particularly in dairy and retail, while the concept of a unified market continued to gain momentum [1] - The overall market saw nearly 5000 stocks in the green, with a total trading volume of 1.66 trillion [1] Key Highlights 1. **Belt and Road Initiative and Ports** - The Belt and Road, port, and logistics sectors continued their strong performance from the previous day, with several stocks hitting the daily limit [4] - Key stocks included Ruimaotong, Tianshun Co., Feilida, and Changlian Co. [4] 2. **Consumer Sector** - The consumer sector maintained its strong performance, with leading stocks such as Guofang Group, Zhongyuan Home, and Bei Yin Mei advancing [7] - The People's Daily emphasized the need for extraordinary measures to boost domestic consumption [8] 3. **Gold Sector** - The gold sector experienced a surge, with stocks like Sichuan Gold, Hengxing Technology, and Western Gold hitting the daily limit [9] - The spot gold price surpassed $3130 per ounce [18] 4. **Consumer Electronics and Robotics** - The consumer electronics and robotics sectors, which had previously seen declines, began to recover, with many stocks hitting the daily limit, although they experienced a pullback overall [11] - Tesla's stock rose by 22% overnight, positively impacting related sectors [12] 5. **Investment Outlook** - Analysts predict that the Belt and Road strategy will become increasingly important amid escalating US-China trade tensions, with a projected 5.16% growth in trade with Belt and Road countries in 2024 [6] - The robotics industry is expected to transition from formation to expansion, with significant investment opportunities anticipated by 2025 [14]

Core Viewpoint - Lingbao Gold (03330) has shown a significant increase in stock price, rising over 3% to HKD 6.58, with a trading volume of HKD 42.1 million. The company is expected to achieve substantial revenue and profit growth in 2024, driven by improved performance in overseas mining and smelting operations [1][2]. Group 1: Financial Performance - In 2024, Lingbao Gold is projected to achieve operating revenue of CNY 11.87 billion, representing a year-on-year increase of 12.7% [1]. - The company is expected to realize a net profit attributable to shareholders of CNY 700 million, reflecting a year-on-year growth of 119.4% [1]. - For the second half of 2024, the operating revenue is anticipated to reach CNY 7.59 billion, with year-on-year and quarter-on-quarter increases of 61.5% and 77.3%, respectively [1]. - The net profit for the second half of 2024 is forecasted to be CNY 550 million, showing year-on-year and quarter-on-quarter growth of 175.0% and 260.3%, respectively [1]. - The profit figures are close to the upper limit of the company's previous forecasts, indicating a strong performance in overseas mining and smelting operations [1]. Group 2: Exploration and Production Plans - The company plans to drill 150,000 meters and conduct 270,000 meters of pit exploration by 2025, aiming to submit nearly 100 tons of gold metal reserves for filing by the end of 2026 [2]. - Lingbao Gold aims to maintain an annual growth rate of over 10% in mineral metal output from existing mines over the next five years [2]. - The target for gold production cost per gram is set at approximately CNY 300 (around USD 1,100 per ounce) for 2025, with a long-term goal to keep costs below USD 1,000 per ounce [2].

Summary of Shandong Gold's Conference Call Company Overview - The conference call pertains to Shandong Gold, a prominent player in the gold mining industry in China, discussing its financial performance and strategic outlook for 2024 and 2025. Key Points and Arguments Financial Performance - **Increase in Operating Costs**: The rise in operating costs for 2024 is attributed to two main factors: the increase in raw material prices, particularly explosives and external construction costs, and the amortization of asset appraisal gains from the acquisition of Yintai Gold. The overall impact of raw material price increases is expected to be minimal in 2025 [3][5][4]. - **Financial Expenses**: Financial expenses surged to over 2 billion in 2024, marking a nearly 50% year-on-year increase due to acquisitions and foreign exchange losses. This is expected to exert significant pressure on profits, although a capital increase is anticipated to alleviate some of this burden [3][8][7]. - **Stable Gold Grades**: The company plans to maintain stable gold grades in 2025, with a slight increase in the first quarter compared to the previous quarter [6][3]. Production and Projects - **Cardino Project**: Currently in the commissioning phase, with a target to reach production by the end of June 2025, expected to yield approximately 4 tons in the second half of the year [9][3]. - **Future Projects**: The New City Gold Mine is expected to be completed by 2026, while the San Shan Island project is projected to yield results by 2030. The company aims to double its production capacity to 40 tons in the long term [12][3]. - **Resource Expansion**: Shandong Gold has significant gold reserves of 973 tons, with potential for further increases through exploration and acquisitions. In 2024, the company added 58.8 tons of new resources [12][13]. Capital Expenditure and Financing - **Capital Expenditure Plans**: The company anticipates capital expenditures exceeding 6 billion in 2025, with a focus on long-term investments and resource acquisitions, particularly in Africa [15][3]. - **Dividend Policy**: A dividend of 1.48 yuan per share has been approved for 2024, with plans to increase dividend payouts in the future [16][3]. Inventory Management - **High Inventory Levels**: The increase in inventory by 950 kg is attributed to timing, production cycles, and sales strategies, particularly during high gold price periods [18][3]. Strategic Outlook - **Market Positioning**: Shandong Gold is viewed as a highly elastic investment opportunity in the gold sector, with expectations of a market rebound and increased production leading to enhanced company valuation [24][25]. Mergers and Acquisitions - **Recent Acquisitions**: The company has made several strategic acquisitions, including Yintai Gold, which are expected to yield positive economic benefits as gold prices rise [14][3]. Additional Important Information - **Regulatory Considerations**: The State-owned Assets Supervision and Administration Commission (SASAC) primarily evaluates the group’s performance based on production and revenue metrics rather than the market capitalization of the listed company [20][3]. - **Project Development**: The Daqiao Gold Mine project is projected to achieve an annual output of 5 to 6 tons, enhancing overall production capacity [22][3]. This summary encapsulates the critical insights from the conference call, highlighting Shandong Gold's financial health, production strategies, and future growth potential in the gold mining industry.

长按即可参与 A股三大指数今日集体下跌，截至收盘，沪指跌0.46%，深成指跌0.97%，创业板指跌1.15%，沪深 两市全天成交额1.22万亿，较上个交易日放量1026亿，个股跌多涨少，全市场超4000只个股下跌。 盘面上热点较为杂乱，黄金板块逆势走强，资金午后回流算力板块，杭钢股份涨停，一起来看今天 热点。 01 百亿上市公司暴雷！ 今天互联网金融概念股汇金科技一字20cm跌停，也一度冲上雪球热股榜第一！ | | | 雪矿拽股 | | | | --- | --- | --- | --- | --- | | | 股票 | | ETF | | | 热搜榜▼ | 飙升榜 | 热评榜 | 自选榜 | 组合热股榜 | | 发现热门股票 | | | | 1小时 24小时 | | 1 汇金科技 | | | -20.00% | 加自选 | | SZ300561 1.11万热度 | | | | | | 2 建设银行 | | | +1.06% | 已添加 | | SH601939 9912热度 | | | | | | | | 雪球热点 #四大行定增,财政部出资约5000亿# | | × | | 3 美的集团 | | | +3. ...