Market Performance - The Hong Kong stock market closed September with a bullish trend, with the three major indices showing a fluctuating upward pattern and reaching new highs [1] - The Hang Seng Technology Index surged by 13.95% during the month, hitting a peak of 6475.92 points on the last trading day [1] - The Hang Seng Index increased by 7.09%, briefly surpassing the 27,000-point mark, while the National Enterprises Index rose by 6.79%, crossing the 9,500-point threshold [1] Sector Performance - Semiconductor stocks led the gains, with notable increases such as Hua Hong Semiconductor up by 48.7% and SMIC up by 31.5%, both reaching historical highs [1] - Gold, copper, wind power, lithium battery, and photovoltaic sectors also saw significant gains, with Lingbao Gold up by 31.69%, Zhaojin Mining up by 29.71%, and Zijin Mining up by 28.66%, among others, all achieving historical price highs [1] - Wind power leader Goldwind Technology experienced a remarkable increase of 58.55% [1] Major Technology Stocks - Major technology stocks performed strongly, with Alibaba rising by 52.98%, Baidu by 48.99%, JD.com by 17.57%, and NetEase by 11.49%, all reaching new highs [1] - Other notable increases included Kuaishou up by 12.97%, Tencent by 11.15%, Xiaomi by 2.18%, and Meituan by 1.75% [1]

Core Viewpoint - Zijin Mining International Co., Ltd. (02259.HK) was listed on the Hong Kong Stock Exchange, closing at HKD 120.60, a rise of 68.46% from its initial offering price of HKD 71.590 [1][3]. Group 1: Share Offering Details - The total number of shares offered was 348,990,700, with 34,899,100 shares available for public offering in Hong Kong and 314,091,600 shares for international offering [1][2]. - The final offering price was HKD 71.590, resulting in total proceeds of HKD 24,984.2 million, with net proceeds amounting to HKD 24,469.9 million after deducting estimated listing expenses of HKD 514.3 million [3][4]. Group 2: Use of Proceeds - Approximately 33.4% of the net proceeds is expected to be used for settling the acquisition cost of the Raygorodok gold mine in Kazakhstan [4]. - About 50.1% of the net proceeds is planned for upgrading and construction projects at existing mines over the next five years to enhance production capacity [4]. - Approximately 6.5% is allocated for exploration activities over the next five years to fully realize the company's growth potential, while around 10% is designated for general corporate purposes [4]. Group 3: Company Overview and Financial Performance - Zijin Mining International is a leading global gold mining company formed by integrating all gold mines of Zijin Mining outside of China, focusing on exploration, mining, processing, refining, and sales of gold [5]. - The company's revenues for 2022, 2023, and 2024 are projected to be USD 1,818.0 million, USD 2,262.4 million, and USD 2,989.9 million, respectively, with net profits of USD 290.3 million, USD 322.2 million, and USD 620.6 million for the same years [5][6]. - The company reported cash flows from operating activities of USD 714.7 million, USD 924.9 million, and USD 876.5 million for the years 2022, 2023, and 2024, respectively [7].

2025年9月30日 紫金矿业（601899.SH，02899.HK）旗下的 紫金黄金国际有限公司 （以下简称"紫金黄金国际"） 成功在港交所发行上市 股票代码：2259.HK 发行价格：71.59港元/股 开盘高开55.75％，报111.5港元/股 截至午间收盘 紫金黄金国际主要财务数据 紫金黄金国际的财务表现非常亮眼。2024年，公司营业收入达 29.90亿美元，净利润为6.21 亿美元，归母净利润为4.81亿美元。2025年上半年，公司业绩继 续保持高速增长，同比增长42.3%，至19.97亿美元；归母净利润同比增长142.6%，至5.20亿美元。2022-2024年，公司归母净利润的复合年增长率为61.9%。 | | | | 截至12月31日止年度 | | | | | 裁至6月30日止六個月 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 2022年 | | 2023年 | | 2024年 | | 2024年 | | 2025年 | | | | 美元 | 9/0 | 美元 | % | 美元 | ...

Core Viewpoint - Zijin Gold International officially listed on the Hong Kong Stock Exchange on September 30, with its stock price surging over 67% on the first day, achieving a market capitalization exceeding HKD 300 billion. The rise in gold prices has significantly contributed to this increase, with international gold prices reaching a historical high of USD 3,898 per ounce [1][2]. Group 1: Company Overview - Zijin Gold International is a spin-off from Zijin Mining Group, consolidating all of its gold mining assets outside of China. The company is primarily engaged in gold exploration, mining, processing, refining, and sales [1]. - The company aims to accelerate its internationalization process and strengthen its gold business segment through this spin-off, while also maintaining a stable equity structure at the Zijin Mining level [2]. Group 2: Financial Data - Revenue projections for Zijin Gold International from 2022 to the first half of 2025 are USD 1.818 billion, USD 2.262 billion, USD 2.990 billion, and USD 1.997 billion, respectively. The net profit for the same periods is projected to be USD 184 million, USD 230 million, USD 481 million, and USD 520 million [3]. - Notably, the net profit for the first half of 2025 is expected to surpass the total net profit for 2024, primarily driven by a significant increase in gross profit margin, which is closely linked to fluctuations in gold prices. The gross profit margin for gold products in the first half of 2025 is projected to be 46.5%, up from 36.5% in the same period last year [3].

Group 1: Market Overview - The A-share market experienced an overall upward trend on September 30, with the Sci-Tech 50 Index showing strong performance, reaching a new high for the year with an intraday increase of over 2% [3] - New stocks listed on both A-share and Hong Kong markets performed well, with A-share's Yunhan Xincheng seeing an intraday surge of over 400%, potentially yielding a profit of approximately 57,500 yuan per lot [7][6] - The Hong Kong market also had three new stocks listed, with Xipuni experiencing a peak increase of nearly 340% [11] Group 2: Sector Performance - The precious metals sector saw continued price increases, with domestic gold futures reaching a historical high, surpassing 870 yuan per gram [8] - The non-ferrous metals sector experienced significant gains, with the sector's intraday increase exceeding 2% [8] - Key stocks in the non-ferrous metals sector, such as Platinum New Materials and Boke New Materials, saw substantial price increases, with Platinum New Materials rising by 14.18% [4] Group 3: New Stock Highlights - Yunhan Xincheng focuses on electronic component distribution and industrial internet integration, supporting high search volumes and maintaining a 90% search match rate on its B2B online platform [10] - Ruili Kemi specializes in active safety systems for vehicles, with core products covering various braking systems and a strong market position in commercial vehicle safety solutions [11] - Xipuni, a leading designer and manufacturer of gold watch cases, is projected to see revenue growth from 324 million yuan to 457 million yuan from 2022 to 2024 [16]

Market Overview - The A-share market experienced an overall upward trend on September 30, with the Sci-Tech Innovation 50 Index reaching a new high for the year, showing an intraday increase of over 2% [3] - New stocks listed on both A-share and Hong Kong markets performed well, with significant gains on their debut [7][15] New Stock Performance - A-share market saw two new stocks listed, with Yunhan Xincheng (301563) experiencing an intraday surge of over 400%, potentially yielding a profit of approximately 57,500 yuan per lot, ranking among the top for the year [8][10] - The other new stock, Ruili Kemi, saw an intraday increase of nearly 90% [11] - In the Hong Kong market, three new stocks were listed, with Xipuni showing an intraday rise of nearly 340% and maintaining a gain of about 250% [12][17] Industry Highlights - The non-ferrous metals sector saw significant gains, with the sector rising over 2% during the session [5] - Key stocks in this sector included Platinum New Materials, which rose by 14.18%, and others like Boki New Materials and Jingyi Co., which also hit their daily limit [4][5] - Gold and silver prices continued to rise, with domestic gold futures reaching a historical high, surpassing 870 yuan per gram [4] Company Insights - Yunhan Xincheng focuses on electronic component distribution and industrial internet integration, providing a one-stop supply chain service for the electronic manufacturing industry [10] - Ruili Kemi specializes in the research, production, and sales of active safety systems for vehicles, positioning itself as a leader in the commercial vehicle safety system market [12] - Xipuni, a leading designer and manufacturer of gold watch cases, is projected to grow its revenue from 324 million yuan to 457 million yuan from 2022 to 2024, with a compound annual growth rate of 28.2% [13] - Botai Che Lian, a supplier of intelligent cockpit solutions, is the third-largest provider in the Chinese passenger car market, holding a market share of 7.3% [18] Stock Index Performance - The Hang Seng Index showed low volatility, initially rising but later narrowing its gains, with notable movements among its constituent stocks [15][16] - Semiconductor company Huahong Semiconductor saw a significant rise of over 13% following an announcement regarding a share issuance and acquisition [19]

Market Overview - The A-share market experienced an overall upward trend on September 30, with the Sci-Tech 50 Index showing strong performance, reaching a new high for the year with an intraday increase of over 2% [4][3] - New stocks listed on both A-share and Hong Kong markets performed well, with A-share's Yunhan Xincheng (301563) seeing an intraday increase of over 400%, potentially yielding a profit of approximately 57,500 yuan per lot, ranking among the top for the year [9][2] New Stock Performance - Yunhan Xincheng is an innovative high-tech enterprise focusing on the distribution of electronic components and industrial internet integration, with a B2B online marketplace supporting over a million searches daily and a matching rate of 90% [11] - Another new stock, Ruili Kemi, saw an intraday increase of nearly 90%, specializing in active safety systems for vehicles and becoming a leading enterprise in the commercial vehicle safety system sector [12][13] - In the Hong Kong market, three new stocks were listed, with Xipuni experiencing an intraday increase of nearly 340% and currently maintaining a rise of about 250% [12][18] Sector Performance - The non-ferrous metals sector saw significant gains, with an intraday increase exceeding 2%, and stocks like Platinum New Materials and Bokin New Materials hitting their daily limit [6][5] - Other sectors such as defense, electric equipment, real estate, and computers also showed strong performance, while sectors like communications and non-bank financials weakened [7] Gold Market - Gold and silver prices continued to rise, with domestic gold futures reaching a historical high, surpassing 870 yuan per gram [5]

Core Viewpoint - The A-share market experienced an overall upward trend, with the Sci-Tech 50 Index reaching a new high for the year, driven by strong performances from newly listed stocks and specific industry sectors [2][3]. Group 1: Market Performance - The A-share market saw significant gains, with major indices rising, particularly the Sci-Tech 50 Index, which had an intraday increase of over 2% [3]. - New stocks listed on the A-share market performed exceptionally well, with Yunhan Xincheng (301563) showing an intraday gain of over 400%, potentially yielding a profit of approximately 57,500 yuan per lot [10][9]. - In the Hong Kong market, three new stocks were listed, with Xipuni reaching an intraday increase of nearly 340% [12][16]. Group 2: Industry Highlights - The non-ferrous metals sector experienced a significant rise, with intraday gains exceeding 2%. Notable stocks included Platinum New Materials, which surged by 18%, and several others reaching their daily limit [5][6]. - Gold and silver prices continued to rise, with domestic gold futures surpassing 870 yuan per gram, indicating strong demand in the precious metals market [7]. - Key sectors such as defense, electric equipment, real estate, and computing showed notable gains, while sectors like communications and non-bank finance faced declines [7]. Group 3: New Stock Details - Yunhan Xincheng focuses on electronic component distribution and integrates digital technology for efficient supply chain services, boasting over 696,500 registered users and processing peak orders of 68,000 monthly [12]. - Ruili Kemi, another new stock, specializes in active safety systems for vehicles, showcasing significant technological capabilities in the automotive sector [15][16]. - In the Hong Kong market, Xipuni, a leading manufacturer of gold watch cases, reported a revenue increase from 324 million yuan to 457 million yuan from 2022 to 2024, reflecting a strong growth trajectory [18].

如此热烈一幕，堪称当下"黄金热潮"的生动写照。 始于福建龙岩 今年港股第二大IPO诞生了。 张一鸣老乡挖金矿 投资界消息，今日（9月30日），紫金黄金国际正式在港交所鸣锣，发行价71.59港元/股，开盘大涨64%，市值超过3000亿港元。凭借募资近250亿，紫金 黄金国际一举成为今年仅次于宁德时代的第二大港股IPO。 身后基石阵容豪华——紫金黄金国际引入29名基石投资者，合计认购约124亿港元，其中包括GIC、高瓴、贝莱德、高毅资产、富达基金、景林、中国太 保、泰康人寿、IDG Breyer Fund、橡树资本、云锋投资、CPE River等，盛况惊人。 说起来，紫金黄金国际源自于紫金矿业，而紫金系背后是被誉为中国矿业"教父级"的人物——陈景河。 1957年，陈景河出生在福建省龙岩市——这里人才辈出，最著名的当属：字节跳动张一鸣、美团王兴。少时家境贫寒，陈景河恢复高考后考入福州大学地 质专业，毕业后被分配至福建省闽西地质大队，参与紫金山地质勘探工作。 在当时，紫金矿山基本上是一座被抛弃的"废山"。陈景河日后在《我与紫金，此生不了情》中写道："紫金山千百万年地质痕迹使我痴迷，骑着五龙驾 雾，伴着麒麟入眠……终于 ...

黄金热。 如此热烈一幕，堪称当下"黄金热潮"的生动写照。 始于福建龙岩 张一鸣老乡挖金矿 说起来，紫金黄金国际源自于紫金矿业，而紫金系背后是被誉为中国矿业"教父级"的人物——陈景河。 （陈景河，C位现身敲钟仪式） 1957年，陈景河出生在福建省龙岩市——这里人才辈出，最著名的当属：字节跳动张一鸣、美团王兴。少时家境贫 寒，陈景河恢复高考后考入福州大学地质专业，毕业后被分配至福建省闽西地质大队，参与紫金山地质勘探工作。 作者 I 杨继云 报道 I 投资界PEdaily 今年港股第二大IPO诞生了。 投资界消息，今日（9月30日），紫金黄金国际正式在港交所鸣锣，发行价71.59港元/股，开盘大涨64%，市值超过 3000亿港元。凭借募资近250亿，紫金黄金国际一举成为今年仅次于宁德时代的第二大港股IPO。 身后基石阵容豪华——紫金黄金国际引入29名基石投资者，合计认购约124亿港元，其中包括GIC、高瓴、贝莱德、 高毅资产、富达基金、景林、中国太保、泰康人寿、IDG Br e ye r Fund、橡树资本、云锋投资、CPE Ri v e r等，盛况 惊人。 在当时，紫金矿山基本上是一座被抛弃的"废山"。陈景河日后 ...