Group 1 - The stock price of Shenghe Resources experienced fluctuations on August 20, opening at 24.00 yuan, reaching a high of 24.84 yuan, a low of 23.44 yuan, and closing at 23.81 yuan, down 2.50% from the previous trading day [1] - The company is primarily engaged in rare earth mining, smelting separation, and deep processing, with products widely used in new energy, new materials, and energy-saving environmental protection sectors [1] - As a significant player in the rare earth industry, the company's operations cover the entire industry chain from upstream resource development to downstream applications [1] Group 2 - On August 20, there was a net outflow of 8.23 billion yuan in main funds, with a cumulative net outflow of 10.85 billion yuan over the past five trading days [1] - The trading volume for the day was 2.3724 million hands, with a transaction amount of 5.699 billion yuan, resulting in a turnover rate of 13.53% [1]

Group 1 - The core point of the article is that Northern Rare Earth has achieved a transaction volume of 10 billion yuan, with its stock price increasing by over 1% [1] Group 2 - The significant transaction volume indicates strong market demand for rare earth materials, which may positively impact the company's financial performance [1] - The increase in stock price reflects investor confidence in the company's growth prospects following the reported transaction volume [1]

Core Viewpoint - Myanmar's rare earth exports to China are projected to reach approximately $3.6 billion from 2021 to 2024, increasing more than fivefold compared to the previous four years, driven by mutual interests between China and Myanmar in rare earth procurement [1][6]. Group 1: Export Dynamics - The northern Kachin State is a major rare earth production area in Myanmar, predominantly controlled by the Kachin Independence Army (KIA), which is currently engaged in conflict with the Myanmar government [3]. - Before the military coup in Myanmar in 2021, the country's rare earth exports to China amounted to $665 million over four years, while the projected exports from 2021 to 2024 are expected to exceed $3.6 billion [6]. - The KIA has taken control of rare earth production sites from the Border Guard Force (BGF), leading to a temporary halt in exports to China, which have since resumed under new pricing conditions [6]. Group 2: Strategic Importance of Rare Earths - Rare earths are essential for high-tech industries, including electric vehicles (EVs), with China accounting for approximately 70% of global production [4]. - The processing of rare earths is nearly monopolized by China, and the country is keen to secure its interests in Myanmar, viewing rare earths as a strategic asset in negotiations with the U.S. [4][10]. Group 3: Geopolitical Implications - The Trump administration's approach to rare earths may lead to closer ties with Myanmar, raising concerns for China [10]. - Despite the U.S. not recognizing the military government in Myanmar, there have been communications between President Trump and the military leader regarding trade issues, indicating a potential shift in U.S. policy [11][12]. - The U.S. may face challenges in sourcing rare earths from Myanmar due to logistical constraints, local dependencies on China, environmental concerns, and compliance issues with financial institutions [12]. Group 4: Alternative Sourcing - As procurement in Kachin State becomes increasingly difficult, China is looking towards the neighboring Shan State, where the United Wa State Army (UWSA) is accelerating rare earth development with Chinese support [9]. - Satellite imagery has confirmed at least 20 mining sites in Shan State, indicating a significant push for alternative sourcing by China [9].

Industry Overview - The rare earth sector experienced a significant rally on the 20th, with companies such as Beikong Technology and Dongfang Zirconium hitting the daily limit, while Jintian Co. rose nearly 9% and Jinli Permanent Magnet and Northern Rare Earth increased by over 3% [1] - Last week, rare earth prices surged rapidly, primarily driven by strong demand from multiple major magnetic material manufacturers simultaneously conducting bidding activities for praseodymium and neodymium metals [1] - The domestic orders have surged due to a significant price gap between domestic and international markets, leading to a spike in restocking orders [1] - Heightened trade conflicts have exacerbated supply chain concerns, prompting European and American manufacturers to increase their safety stock levels, which is expected to drive rare earth prices higher than anticipated [1] Company Insights - Huatai Securities emphasizes the strategic importance of rare earths and is optimistic about the upward price trend, predicting that the price center for rare earths will continue to rise from 2025 to 2026 [1] - The strategic significance of rare earths has become increasingly prominent in the context of "de-globalization" [1] - The active performance of the praseodymium and neodymium metal auctions that started in July reflects strong market bullish sentiment [1] - With the anticipated upward movement in rare earth price centers, it is expected that the performance of related companies will continue to improve [1]

Market Overview - The market experienced a slight decline yesterday, with the three major indices showing minor drops. The Shanghai Composite Index fell by 0.02%, the Shenzhen Component Index by 0.12%, and the ChiNext Index by 0.17% [1] - The total trading volume in the Shanghai and Shenzhen markets was 2.59 trillion yuan, a decrease of 175.8 billion yuan compared to the previous trading day, marking the fifth consecutive day with trading volume exceeding 2 trillion yuan [1] - Sectors such as liquor, Huawei HiSilicon, CPO, and humanoid robots saw significant gains, while insurance, military, securities, and gaming sectors experienced notable declines [1] Investment Insights Rare Earths - Huatai Securities emphasizes the strategic importance of rare earths and anticipates a price increase, projecting that the price center for rare earths will continue to rise from 2025 to 2026. The strategic significance of rare earths has become more pronounced in the context of "de-globalization" [2] - The active bidding for praseodymium and neodymium metals that started in July reflects strong market bullish sentiment, suggesting that related companies' performance is expected to improve continuously [2] Solar Thermal Power - CITIC Construction Investment highlights the potential for solar thermal power to undergo a qualitative change in the energy storage era, noting its importance in building a new power system. The installed capacity of solar thermal power in China is projected to reach 838.2 MW by the end of 2024, with an additional 300 MW expected to be added from 2021 to 2024 [3] - The report indicates that the industry still has significant growth potential, despite historical fluctuations in installed capacity due to economic viability and policy uncertainties. Current pricing policies in Qinghai province suggest that solar thermal power is beginning to demonstrate economic feasibility [3] Building Materials - Galaxy Securities recommends focusing on opportunities in the building materials sector, anticipating a recovery in demand due to expected policy support and improved channel layouts. Companies with product quality and brand advantages are highlighted as potential leaders in the consumer building materials industry [4] - In the cement sector, stricter supply controls are expected to ease supply-demand conflicts, leading to a potential increase in cement prices and profitability for regional leaders [4] - For fiberglass, the report suggests that demand recovery driven by emerging markets and price increases for mid-to-high-end products could lead to a full-year performance recovery for leading companies [4]

付费公式在这里： 预选股池如何设置 里面有三个公式，以及有关平时如何设计预选股池的一些思路和方法。今天把其中我最满意的一个公式免费出来，同时也作了一些修订。 这个公式很简单，就是把连续三个季度的营收和扣非净利润分别累加，然后求同比增速，给出阈值条件。这样计算的好处是尽可能地把业绩还过得 去，总体还在增长的股票全部选进去，大约占全市场股票的四分之一。 这个预选池公式和三季盈增寻锚公式有非常大的不同。寻锚公式是完全按照欧马体系的原意设计的，要求每个季度的营收和利润都有较高的增速，这 个就很苛刻了，所以选出的股票会很少。 当然，如果你忠实执行欧马体系的策略，也是可以的，这只不过是个取舍的问题，我在《 选股哲学的数学原理 》一文中已经讲得很透彻，如果你忠 实执行欧马策略，那么选中胜宏、新易盛这些票的概率是很大的。 但往往有人（包括我自己）希望多一些选择可能，而类似一些强周期股和困境反转股，是不可能被寻锚公式选中的。比如北方稀土，当下正刚刚走出 困境反转初期，它可以出现在三季累增股池，但无法被寻锚公式锚中。 我自己选股，有部分是在预选股池上做，有些是全市场海选，有时候还会在预选池基础上添加某个行业的板块，看自己的需要、 ...

Group 1 - The core viewpoint is that the logic of the Chinese market is undergoing a fundamental change, driven by new technology trends and improved economic visibility [3] - The market is transitioning from being policy-driven to being fundamentally driven, with a focus on high-quality development and industrial upgrades [7] - A sustainable "slow bull" market is anticipated, supported by policy backing, liquidity expectations, and continuous innovation in industries [8] Group 2 - The current bull market atmosphere is expected to dominate the market in the short term, with conditions for a bull market becoming more favorable by mid-2026 [5] - The ample liquidity in the market is a major support for the rise of A-share indices this year, with margin financing and foreign capital inflows contributing to market activity [10]

Group 1 - The Japanese government plans to support domestic companies in expanding overseas markets for critical materials, focusing on sectors like semiconductors, rare earths, and shipbuilding [1] - A legal amendment will be proposed to include overseas business expansion in the Economic Security Promotion Law, aiming for submission at the regular Diet session in January 2026 [1] - The support will cover procurement of essential minerals, ship repair bases, and the promotion of 5G standards, along with collaboration with like-minded countries and local enterprises [1] Group 2 - The government intends to provide subsidies from the research and testing phase to mass production and commercialization over multiple years [1] - Previously, Japanese companies could only receive government subsidies for initial testing phases in emerging and developing countries, but long-term government involvement is expected to reduce risks for these companies [1] - The Economic Security Promotion Law was enacted under Prime Minister Fumio Kishida in 2022, and the upcoming amendment will broaden support beyond stable procurement of materials to include overseas business activities [1]

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佈之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任何 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。 CHINA ENVIRONMENTAL RESOURCES GROUP LIMITED 中國環境資源集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1130） – 1 – 延長就潛在合作與GOLDWIN CENTURY訂立之諒解備忘錄 茲提述中國環境資源集團有限公司（「本公司」）日期為二零二五年二月二十一日之公 佈（「公佈」），內容有關就位於中華人民共和國之稀土項目之業務發展及其他附屬業 務機會之潛在合作訂立之諒解備忘錄。除文義另有所指外，下文所用詞彙與公佈所 界定者具有相同涵義。 誠如公佈所披露，本公司將進行盡職審查，且訂約方同意於諒解備忘錄期間磋商合 作之條款及條件。倘訂約方於諒解備忘錄期間之屆滿日期或之前尚未訂立正式協 議，諒解備忘錄將自動失效。 由於需要額外時間進行盡職審查及磋商合作之條款及條件，訂約方於二零二五年八 月十九日訂立諒解備忘錄之附件，將諒解備忘錄期間延長3個月至二零二五 ...

Core Viewpoint - The Chinese government is open to enhancing dialogue and cooperation with relevant countries and regions to maintain the stability of global supply chains, particularly in response to inquiries about the lifting of rare earth export restrictions to India [1] Group 1 - The Chinese Foreign Ministry spokesperson, Mao Ning, addressed a question regarding reports from Indian media about the lifting of rare earth export restrictions [1] - Mao Ning stated that he was not aware of the situation mentioned by the reporter, indicating a lack of confirmation on the matter [1] - The response emphasizes China's willingness to collaborate with other nations to ensure the stability of global production and supply chains [1]