紫金矿业（601899.SH、02899.HK）1月28日发布了2025年度业绩预告。报告显示，公司预计全年实现 归属于上市公司股东的净利润在510亿元至520亿元之间，同比增长59%至62%；扣除非经常性损益后的 净利润预计为475亿元至485亿元，同比增幅达50%至53%。其中，第四季度单季归母净利润预计为131 亿元至141亿元，同比增长71%至84%，业绩保持稳健增长态势。 不断强化资源联动体系 就在1月27日，紫金矿业公告称，公司控股的紫金黄金国际（02259.HK）拟以44加元/股的现金价格，收 购联合黄金全部已发行的普通股，收购对价共计约55亿加元（约合人民币280亿元）。 受此消息影响，紫金矿业股价1月27日涨幅2.81%，收于40.61元/股，总市值1.08万亿元。数据显示，紫 金矿业股价在2025年大涨133%，这是公司自2008年上市以来涨幅最大的一年，股价已从15元上涨至40 元以上，累计涨幅显著。 资料显示，联合黄金是一家总部位于加拿大的黄金矿业公司，其拥有马里Sadiola金矿、科特迪瓦金矿综 合体（含Bonikro和Agbaou金矿）三大在产项目，以及预计2026年下半年建成投产 ...

长江商报消息●长江商报记者 沈右荣 "矿茅"紫金矿业（601899.SH、02899.HK）又抛出重磅金矿收购计划。 拟购标的拥有金资源量533吨 紫金矿业再度大手笔海外买矿。 根据公告，1月26日，紫金黄金国际与联合黄金签署《安排协议》，紫金黄金国际拟以44加元/股的现金 价格收购联合黄金全部已发行的普通股，收购对价共计约55亿加元，约合人民币280亿元（按当日汇率 计算）。 公告显示，联合黄金是一家总部位于加拿大的黄金矿业公司，于2023年9月在多伦多证券交易所上市， 2025年6月在纽约证券交易所上市。 1月26日晚，紫金矿业发布公告，公司控股的紫金黄金国际有限公司（简称"紫金黄金国际"，股票代码 为02259.HK）与Allied Gold Corporation（以下简称"联合黄金"）签署协议，紫金黄金国际拟出资55亿加 元（约合人民币280亿元）收购联合黄金全部已发行的普通股。 联合黄金是一家总部位于加拿大的黄金矿业公司，截至2024年底，其拥有金资源量533吨。 紫金矿业称，联合黄金旗下项目均为在产或即将投产的大型露天开采金矿，预计2029年产金将提升至25 吨。 本次收购主体紫金黄金国际，系紫 ...

Core Viewpoint - The A-share listed companies are entering a rapid disclosure period for their 2025 annual performance forecasts, with a significant number of companies expecting substantial profit growth driven by AI and rising commodity prices [1][2]. Group 1: Performance Forecasts - A total of 451 A-share listed companies have disclosed their 2025 performance forecasts, with 156 companies expecting positive results [1]. - Among these, 42 companies anticipate a net profit growth of over 100% year-on-year [2]. - Notable companies include: - DingTong Technology expects a revenue of approximately 1.593 billion yuan, a 54.37% increase, and a net profit of about 242 million yuan, a 119.59% increase, driven by AI demand in the communications sector [2]. - Baiwei Storage forecasts a net profit between 850 million and 1 billion yuan, representing a growth of 427.19% to 520.22% [3]. Group 2: Mining Sector Performance - Mining companies are experiencing significant growth due to rising prices and demand for gold and copper [4]. - Luoyang Molybdenum expects a net profit of 20 billion to 20.8 billion yuan, a year-on-year increase of 47.8% to 53.71%, attributed to effective cost control and product price increases [4]. - Zijin Mining anticipates a net profit of approximately 51 billion to 52 billion yuan, a growth of 59% to 62%, with increased production across key minerals [5]. Group 3: Innovative Sectors - Companies in semiconductor, innovative pharmaceuticals, and commercial aerospace sectors are gaining market attention [6]. - Haopeng Technology projects a net profit of about 19.5 million to 22 million yuan, a growth of 113.69% to 141.09%, focusing on AI hardware applications [6]. - The pharmaceutical industry is entering a critical phase of innovation and global expansion, with investment opportunities shifting towards companies with global competitiveness [7].

Core Insights - In 2025, Zijin Mining and Luoyang Molybdenum both achieved record-high profits and market valuations, driven by strategic positioning in the global commodity market and effective operational management [1][2][4]. Financial Performance - Zijin Mining expects a net profit of 51-52 billion yuan for 2025, marking a year-on-year increase of 59%-62%, with core mineral products seeing significant price and volume growth [2][3]. - Luoyang Molybdenum anticipates a net profit of 20-20.8 billion yuan, representing a year-on-year growth of 47.8%-53.71%, and is entering the 20 billion yuan profit range for the first time [2][3]. Production and Market Position - Zijin Mining's production includes approximately 90 tons of gold, 1.09 million tons of copper, and 437 tons of silver, positioning it as the fourth-largest metal mining company globally and the largest gold mining company [2][3]. - Luoyang Molybdenum's copper production reached 741,100 tons, with cobalt, molybdenum, tungsten, and niobium also hitting historical highs [3][4]. Strategic Initiatives - Luoyang Molybdenum's success is attributed to its long-term strategic focus on the energy transition and early investments in overseas copper assets, alongside capitalizing on the current metal price upcycle [1][4]. - The company is advancing its KFM Phase II project, expected to add 100,000 tons of copper production annually by 2027, and is planning further expansions to reach a target of 1 million tons of copper by 2028 [4]. Management Changes - Zijin Mining has undergone a leadership transition, with a new management team emphasizing stability and internal promotion, which is seen as crucial for maintaining strategic continuity [5][6]. - Luoyang Molybdenum has introduced a new management team with significant external experience, aiming to enhance global management capabilities and adapt to evolving industry demands [7][8]. Industry Trends - The contrasting management strategies of Zijin Mining and Luoyang Molybdenum reflect broader trends in the mining industry, with Zijin focusing on internal stability and Luoyang on external talent acquisition to drive innovation and digital transformation [9].

Group 1: Core Insights - Over 300 A-share companies have released performance forecasts for 2025, with 6 companies expecting net profits exceeding 10 billion yuan [1] - Zijin Mining Group is projected to achieve a net profit of approximately 51 to 52 billion yuan for 2025, representing a year-on-year increase of about 59% to 62% [1] - The increase in Zijin Mining's profits is attributed to a rise in the production of key mineral products, including gold, copper, silver, and lithium carbonate [1] Group 2: Industry Trends - Other companies in the non-ferrous metals sector, such as Luoyang Luanchuan Molybdenum and Zhejiang Huayou Cobalt, are also expected to see significant year-on-year profit growth due to rising product prices and operational efficiencies [2] - The recovery of the domestic economy, infrastructure development, and the growth of the new energy vehicle industry are driving demand for non-ferrous metals [2] - Despite challenges in the photovoltaic industry, such as rising costs and increased competition, long-term profitability is expected to improve with technological advancements and market expansion [2]

Core Viewpoint - The copper industry is experiencing significant growth in 2025, driven by rising copper prices, an increase in high-value product ratios, and expansion into overseas markets, leading to impressive financial results for listed companies in the sector [1] Group 1: Company Performance - Zijin Mining, as a leading player in the industry, expects a net profit of 51 to 52 billion yuan for 2025, representing a year-on-year increase of 59% to 62% [3] - The increase in Zijin Mining's profit is attributed to a rise in production and sales prices of key mineral products, with gold production expected to reach approximately 90 tons, copper production around 1.09 million tons, and silver production about 437 tons in 2025 [3] - Other copper companies are also reporting strong performance, with 15 out of 16 listed companies achieving profitability in the first three quarters of 2025, and 14 companies reporting year-on-year net profit growth, with some like Chuanjiang New Material and Jintian Co. achieving profit doubling [4] Group 2: Market Trends - The overall performance of copper companies is improving due to sustained market demand and rising copper prices, prompting companies to expand their copper-related production capacities [4] - For instance, Xibu Mining's subsidiary, Yulong Copper, anticipates a copper concentrate output of 151,000 tons for the entire year of 2025, with future capacity expected to reach 180,000 to 200,000 tons per year after the completion of its third-phase project [4] - Experts believe that copper prices are likely to remain stable or continue to rise, providing ongoing profit opportunities for copper companies, especially with the growing demand from emerging industries such as renewable energy and electronic information [4]

Group 1: Overall Market Performance - As of January 5, 2026, over 280 Hong Kong-listed companies have released annual performance forecasts for the fiscal year ending December 31, 2025, with more than 10 companies providing specific earnings outlooks [1] - The precious metals prices have been rising, leading to generally positive performance in the non-ferrous metals industry, while innovative pharmaceutical companies have also seen significant growth due to increased demand in biopharmaceutical research [1] Group 2: Non-Ferrous Metals Industry - The non-ferrous metals industry is expected to be a major contributor to profits in the Hong Kong market for 2025, benefiting from rising global commodity prices and optimized production capacity [2] - Zijin Mining Group forecasts a net profit of 51 billion to 52 billion yuan for 2025, representing a year-on-year increase of approximately 59% to 62%, with a non-recurring net profit of 47.5 billion to 48.5 billion yuan, up about 50% to 53% [2] - Zijin Mining anticipates production of approximately 90 tons of gold, 1.09 million tons of copper, and 437 tons of silver in 2025, with significant increases in sales prices for these minerals [2] Group 3: Other Non-Ferrous Metals Companies - Zijin Gold International expects a net profit of approximately 1.5 billion to 1.6 billion USD for 2025, an increase of about 212% to 233% compared to the previous year, driven by increased gold production and favorable market conditions [3] - Chifeng Jilong Gold Mining anticipates a net profit of 3 billion to 3.2 billion yuan for 2025, reflecting a year-on-year increase of approximately 70% to 81%, attributed to higher gold production and sales prices [3] Group 4: Innovative Pharmaceuticals and Smart Driving - Innovative pharmaceutical company Baiaosaitu expects a net profit of 135 million yuan for 2025, a year-on-year increase of 303.57%, driven by successful overseas market expansion and growing domestic biopharmaceutical research demand [4][5] - Hesai Technology projects revenue of 3 billion to 3.5 billion yuan for 2025, with GAAP profits of 200 million to 350 million yuan, and Non-GAAP profits expected to rise to 350 million to 500 million yuan, alongside a significant increase in lidar shipments [5] Group 5: Traditional Industries Facing Challenges - Citic Resources anticipates a net profit of approximately 170 million to 230 million HKD for 2025, representing a decline of 60% to 70% year-on-year, primarily due to a significant drop in average selling prices of crude oil and rising raw material costs [6] - New Iron Ore Resources expects a net loss of approximately 2.2 million USD for 2025, attributed to decreased iron ore supply from major suppliers and weakened demand [7]

Group 1 - The core viewpoint of the news is that Zijin Mining has experienced significant stock price growth and is projecting substantial profit increases for 2025, driven by production and price increases of key mineral products [1][2] Group 2 - On January 6, 2026, Zijin Mining's stock price reached a historical high of 37.7 yuan per share, with a market capitalization nearing 1 trillion yuan, closing at 37.6 yuan per share, reflecting a 6.21% increase [1] - The company expects a net profit attributable to shareholders of 510 billion to 520 billion yuan for 2025, representing a year-on-year increase of 189 billion to 199 billion yuan, or a growth of 59% to 62% [1] - The growth in profit is attributed to increased production and rising prices of key mineral products, with gold production expected to be approximately 90 tons, copper production around 1.09 million tons, silver production about 437 tons, and lithium carbonate equivalent at 2.5 million tons for 2025 [1] Group 3 - In a New Year address on January 1, 2026, the chairman of Zijin Mining stated that the company will intensify its acquisition of strategic mineral resources, focusing on gold and copper, and aims to develop a globally competitive lithium segment [2] - The company plans to achieve gold production of 105 tons, copper production of 120 tons, lithium carbonate equivalent of 12 tons, and silver production of 520 tons in 2026 [2]

Core Viewpoint - The rising gold prices have significantly boosted the stock price of Zijin Mining, which reached a historical high, with its market capitalization surpassing 1 trillion yuan for the first time [1][3]. Group 1: Stock Performance - As of January 6, Zijin Mining's stock price increased by 5.65%, reaching 37.4 yuan per share, with an intraday high of 37.68 yuan [1]. - This marks the fourth consecutive trading day of gains for Zijin Mining [1]. Group 2: Stock Option Incentive Plan - On January 5, Zijin Mining announced the results of the first exercise period of its 2023 stock option incentive plan, with 12.2 million shares exercised, raising 136 million yuan, which will be used to supplement the company's liquidity [3]. Group 3: Earnings Forecast - Zijin Mining expects a net profit attributable to shareholders of approximately 51-52 billion yuan for the year 2025, a year-on-year increase of about 59%-62% from 32.05 billion yuan in the previous year [3][4]. - The company also anticipates a net profit of about 47.5-48.5 billion yuan after deducting non-recurring gains and losses, representing a year-on-year increase of approximately 50%-53% from 31.69 billion yuan [3][4]. Group 4: Production and Sales Growth - The increase in expected earnings is attributed to a rise in production of key mineral products, including approximately 90 tons of gold, 1.09 million tons of copper, 437 tons of silver, and 25,000 tons of lithium carbonate equivalent [4]. - Zijin Mining plans to increase its production targets for 2026 to 105 tons of gold, 120 tons of copper, 12,000 tons of lithium carbonate equivalent, and 520 tons of silver [4]. Group 5: Leadership Changes - On December 31, 2025, Zijin Mining announced a leadership change, electing Zou Laichang as the new chairman and Lin Hongfu as the vice chairman, both serving a three-year term [5]. - Zou Laichang has been with the company since 1996 and has held various positions, including chief engineer and vice chairman [7]. - Lin Hongfu has also been with Zijin Mining since 1997, holding multiple leadership roles, including executive director and vice president [9]. Group 6: Company Positioning - Zijin Mining is recognized as the largest enterprise in China controlling metal mineral resources, with significant reserves of copper, gold, and lithium [7]. - The company ranks first among global gold enterprises and fourth among global metal mining companies in the 2025 Forbes Global 2000 list [7].

Group 1 - The core point of the article is the leadership transition at Zijin Mining, with Zou Laichang being elected as the new chairman, marking the first change in leadership in 32 years [2][4][10] - Zou Laichang received a 91.9% vote in the shareholder meeting and will serve a three-year term as chairman, while the former chairman Chen Jinghe becomes honorary chairman and senior advisor [2][4] - The company anticipates a net profit exceeding 51 billion yuan in 2025, representing a year-on-year increase of over 59% due to rising prices and production volumes of key mineral products [2][24] Group 2 - Zou Laichang, aged 57, has extensive experience in enterprise management and mining engineering, having worked closely with Chen Jinghe for many years [5][21] - The new board of directors includes both experienced members and new appointees, ensuring a balance of stability and fresh perspectives [9][12] - The management team has set ambitious goals for 2028, aiming for copper production of 1.5 to 1.6 million tons, gold production of 1 to 1.1 million tons, and lithium carbonate equivalent of 250,000 to 300,000 tons, positioning the company among the top three globally [16][24] Group 3 - The company has been actively expanding through acquisitions, including a $1 billion purchase of the Akyem gold mine in Ghana and a $1.2 billion acquisition of the Raygorodok gold mine in Kazakhstan, both of which are already contributing to production and profits [17][18] - Zijin Mining's resource reserves include over 1.1 million tons of copper, 3,973 tons of gold, and 1.788 million tons of lithium carbonate equivalent, with more than 50% of these resources obtained through self-exploration [14][19] - The company plans to maintain high production levels and explore new opportunities for mergers and acquisitions in the mining sector [24]