Core Viewpoint - Zijin Mining (601899.SH) announced that its subsidiary, Zijin Gold International, submitted a post-hearing information package to the Hong Kong Stock Exchange on September 14, 2025, which includes relevant business and financial information [1] Group 1 - The submission to the Hong Kong Stock Exchange is part of the process for a potential spin-off listing of Zijin Gold International [1] - The approval from the Hong Kong Stock Exchange and the final decision from Zijin Gold International are still pending, indicating that the spin-off listing is subject to uncertainties [1] - The outcome of this listing is also influenced by market conditions and other factors [1]

Group 1 - The discovery of 1500 tons of gold in Liaoning marks a significant breakthrough in China's gold exploration, positioning it among the world's top gold mines [1][2][13] - This discovery enhances China's economic security and its status in the global mineral resource landscape, shifting from a passive consumer to an active player with increased pricing power [2][4] Group 2 - The Chinese government has invested nearly 450 billion yuan in geological exploration during the 14th Five-Year Plan, leading to significant discoveries across various mineral sectors, including oil and gas [2][4] - The emergence of a new "Asia Lithium Belt" across multiple provinces supports the growth of China's new energy industry, while breakthroughs in helium extraction technology reduce reliance on imports [4][11] Group 3 - Advanced drilling technologies have enabled significant discoveries, with China's deep drilling record reaching 4006.17 meters, showcasing the country's technological advancements in mineral exploration [6][11] - The increase in mineral resources, including oil, natural gas, and strategic minerals, strengthens China's economic resilience against global market fluctuations [7][8] Group 4 - The discovery of high-purity quartz, essential for high-tech industries, reflects China's shift towards innovative and efficient mineral exploration strategies [11][13] - The narrative of China transitioning from a resource-poor nation to a strong exploration power highlights the importance of technological prowess and sustained efforts in resource management [13]

Core Viewpoint - Zijin Mining's subsidiary, Zijin International Gold Mine, has submitted a post-hearing information package for listing on the Hong Kong Stock Exchange [1] Group 1 - Zijin International Gold Mine is seeking to list on the Hong Kong Stock Exchange [1]

Core Viewpoint - Zijin Mining's subsidiary, Zijin International Gold Mine, has submitted a post-hearing information package for listing to the Hong Kong Stock Exchange [1] Company Summary - Zijin Mining is actively pursuing a listing for its subsidiary, indicating potential growth and expansion opportunities in the market [1]

Group 1 - Zijin Mining (02899.HK) announced that Zijin Gold International has submitted a post-hearing information package to the Hong Kong Stock Exchange regarding its overseas listing on September 14, 2025 [1] - The post-hearing information package is available for review and download on the Hong Kong Stock Exchange website [1]

紫金矿业（601899）(02899)公布，紫金黄金国际已于2025年9月14日就紫金黄金国际境外上市向香港联 交所递交聆讯后资料集，以供登载于香港联交所网站。 ...

Core Viewpoint - Zijin Mining Group has submitted a hearing information package to the Hong Kong Stock Exchange for the overseas listing of Zijin Gold International, scheduled for September 14, 2025 [1] Company Summary - Zijin Mining Group is moving forward with its plans for an overseas listing of Zijin Gold International [1]

Group 1: Gold Price Trends - The price of gold has increased by 39% year to date and surged 8% in the past month, indicating strong momentum [1] - Gold has become a safe haven for investors amid rising geopolitical tensions, high inflation, and global trade chaos [1] - Central banks globally are accumulating gold to diversify away from dollar-denominated assets, a trend that began after the Russia-Ukraine conflict [3][4] Group 2: Central Bank Accumulation - Central banks and sovereign institutions have purchased over 1,000 tons of gold annually for the past three years, with no signs of slowing down [4] - A survey by the World Gold Council revealed that 43% of central banks plan to increase their gold reserves, and 95% expect overall gold reserves to rise in the next 12 months [4] Group 3: Market Dynamics - Gold has surpassed the euro as the second-largest asset in central banks' reserves, now accounting for 20% [5] - The Federal Reserve is likely to cut interest rates, which would weaken the dollar and increase gold demand, further driving up prices [6][7] - Futures traders estimate a 92% chance of a quarter-point rate cut, which would make gold cheaper for international buyers [7] Group 4: Investment Opportunities - The MSCI Global Gold Miners ETF, with approximately $2 billion in assets, offers a diversified investment in gold-related stocks and has doubled in price this year [8] - The ETF's top holdings include Newmont (15%), Agnico Eagle Mines (14%), Barrick Mining (8%), and Wheaton Precious Metals (7%) [10] - Goldman Sachs projects that gold could reach $5,000 an ounce if concerns about the Federal Reserve's independence grow [9]

Core Viewpoint - The recent surge in gold prices, breaking through $3600 per ounce, reflects a significant shift in the global economic landscape, driven by factors such as declining interest rates, a weakening dollar, and increasing geopolitical tensions [1][4]. Group 1: Gold Market Performance - In 2024, gold prices have shown remarkable performance, increasing by 27.2% in USD and 35.6% in EUR, with a year-to-date rise of nearly 40% as of September 9 [1][2]. - The current price of gold at $3600 per ounce may be just the beginning of a "super cycle," with predictions suggesting it could reach $4800 or even $8900 per ounce by the end of the decade [2]. Group 2: Driving Forces Behind Gold's Rise - The dual role of gold as a safe-haven asset and an inflation hedge is increasingly recognized, with global central banks purchasing over 1000 tons of gold annually, reaching a record 1086 tons in 2024 [3][4]. - The global debt crisis is affecting major economies, with the U.S. government interest payments surpassing military spending for the first time, indicating a potential decline in economic stability [5]. - Persistent inflation remains a concern, with U.S. core CPI at 3.2% and PCE at 2.8%, driving investors towards gold as a hedge against rising prices [6]. Group 3: Geopolitical Influences - The changing geopolitical landscape, characterized by rising tensions and trade conflicts, has made gold's neutral status more valuable, as countries diversify their reserves away from traditional fiat currencies [7]. Group 4: Investment Strategy and Asset Allocation - The traditional 60/40 investment strategy is becoming less effective, prompting a shift towards a new asset allocation model that emphasizes gold as a core component [8][9]. - A proposed new allocation includes 45% in stocks, 15% in bonds, 15% in safe-haven gold, and 10% in performance-oriented gold assets, which has shown higher returns compared to traditional models [10]. - The weakening dollar is expected to further boost gold prices, with historical data indicating that a 10% drop in the dollar index correlates with a 15% rise in gold [11].

Group 1 - The spot gold price surged to a record high of $3,674.27 per ounce, driving significant gains in the Hong Kong gold sector, with Lingbao Gold up 529.56% year-to-date [1][3] - Major gold companies such as China Gold International, Zhaojin Mining, and Zijin Mining saw substantial stock price increases of 240.44%, 174.62%, and 116.12% respectively, while Laopu Gold's stock price skyrocketed over 17 times since its listing, making it the highest-priced stock in Hong Kong [1][3] - Zijin Mining's subsidiary, Zijin Gold International, plans to increase its IPO fundraising target from $2 billion to $3 billion, positioning it as the second-largest IPO globally after CATL [1][3] Group 2 - The rise in gold prices is attributed to increased global macroeconomic uncertainty, expectations of Federal Reserve rate cuts, geopolitical conflicts, and a surge in central bank gold purchases [3][4] - Lingbao Gold leads the industry with 37 mining rights and 131.81 tons of gold reserves, while Zijin Mining reported a revenue of 167.7 billion yuan and a net profit growth of 54.4% in the first half of the year, with a market capitalization exceeding 757.5 billion HKD [3][4] - Laopu Gold's innovative "ancient method gold" retail model resulted in a revenue of 12.354 billion yuan and a net profit of 2.35 billion yuan, with year-on-year growth rates of 251% and 291% respectively [3][4] Group 3 - Analysts highlight that the strong performance of the gold sector is supported by both fundamental and capital market factors, including sustained demand for gold from central banks and strategic asset optimization by mining giants through spin-offs and mergers [4]