Industry Overview - The precious metals mining sector is positioned to benefit directly from rising gold and silver prices, which will enhance product sales revenue and increase business profit margins for leading companies with strong resource reserves and production capacity [2][3] - The precious metals smelting and processing sector is expected to see increased operational rates and order volumes during price uptrends, with a strong certainty of performance growth due to the expansion of smelting margins and the impact of rising raw material prices [2] - The gold and jewelry retail sector is experiencing heightened consumer demand for precious metals as a store of value, allowing leading retail brands to effectively pass on raw material cost pressures through product price increases, benefiting from the trend of gold consumption upgrades [2] - The photovoltaic and new energy application sector is witnessing a surge in demand for silver as a key raw material, with businesses in this field poised for growth opportunities amid an expanding supply-demand gap for silver [2] Company Insights - Western Gold is a modern gold mining and processing enterprise in Western China, ranking among the top ten in national gold production, with a mature integrated production system that will see profit margins increase with rising gold prices [3] - Shengda Resources is a leading domestic silver mining company with nearly 10,000 tons of silver reserves, focusing on the mining and sales of precious and non-ferrous metals, where fluctuations in silver prices significantly impact its performance [3] - Lao Feng Xiang is a leading domestic gold jewelry retail brand with a rich history and market recognition, capable of flexibly adjusting product prices to address rising raw material costs, thus benefiting from increased consumer demand for gold [3] - Xingye Silver Tin operates Asia's largest silver mine with over 24,500 tons of silver reserves and has developed a synergistic business model in silver and tin mining, providing ample performance elasticity during periods of rising silver prices [3] - Yuguang Gold Lead is one of China's largest silver production bases, with significant annual silver production capacity and a unique recovery process that positions it to benefit from the ongoing optimization of the industry supply-demand landscape [3]