智通财经APP获悉，金浔资源(03636)首挂上市，公告显示，每股定价30港元，共发行3676.56万股股 份，每手200股，所得款项净额约10.43亿港元。截至发稿，涨26.67%，报38港元，成交额1.43亿港元。 金浔资源的核心业务专注于开发及供应优质铜资源，以满足中国庞大的铜需求。公司利用非洲丰富的铜 储量，战略性地扩大产能，并实现了整个产业价值链的深度整合。公司在刚果(金)及赞比亚建立了先进 的阴极铜冶炼业务，大幅提升公司的经济效益及市场地位。此外，利用非洲矿石储量中铜和钴天然伴生 的优势，公司正积极发展下游钴相关产品生产业务，使自身在快速增长的新能源材料领域进行了战略性 布局。 招股书显示，金浔资源是是优质阴极铜的领先制造商，在刚果(金)及赞比亚拥有强大的影响力。根据弗 若斯特沙利文的资料，截至2024年12月31日，按在刚果(金)及赞比亚的产量计，公司在中国阴极铜生产 商中排名第五，并为两个司法管辖区中唯一排名前五大的中国公司。 ...

Core Viewpoint - The IPO of Jinxin Resources (03636) has concluded with a subscription amount of HKD 99.5 billion, representing an oversubscription of 89.4 times the public offering amount of HKD 1.1 billion [1] Group 1: IPO Details - Jinxin Resources plans to issue 36.766 million H-shares, with 10% allocated for public offering and 90% for international offering, along with an overallotment option of 15% [1] - The share price is set at HKD 30 per share, with a minimum investment of HKD 6,060.5 for one board lot of 200 shares, aiming to raise HKD 1.1 billion [1] - The company is expected to be listed on January 9, with Huatai International as the sole sponsor [1] Group 2: Business Overview - Jinxin Resources is a leading manufacturer of high-quality cathode copper, holding a strong position in the Democratic Republic of Congo and Zambia [2] - The company ranks fifth among Chinese cathode copper producers based on production volume in these regions, being the only Chinese company in the top five [2] - The core business focuses on developing and supplying quality copper resources to meet China's substantial copper demand, leveraging Africa's rich copper reserves [2] Group 3: Financial Performance - The company's revenues for the years 2022, 2023, and 2024, as well as for the six months ending June 30, 2024, and 2025, are reported as RMB 637 million, RMB 676 million, RMB 1.77 billion, RMB 596 million, and RMB 964 million respectively [2] - Net profits for the same periods are RMB 83.5 million, RMB 29.1 million, RMB 202 million, RMB 93.1 million, and RMB 135 million respectively [2] Group 4: Use of Proceeds - Approximately 80% of the net proceeds from the global offering will be used to expand the company's core business [3] - About 10% will be allocated to repay certain interest-bearing bank loans [3] - The remaining 10% will be used for working capital and general corporate purposes [3]

Core Viewpoint - Jinxun Resources, a leading manufacturer of cathode copper, successfully completed its IPO with significant oversubscription, indicating strong market interest and confidence in its business model and growth potential [1][2]. Group 1: IPO Details - Jinxun Resources conducted its IPO from December 31, 2025, to January 6, 2026, raising a total of HKD 11 billion with a share price of HKD 30 per share [1]. - The IPO was oversubscribed by 89.4 times, with HKD 99.5 billion in margin financing secured by brokers [1]. - The company plans to issue 36.76 million H-shares, with 10% allocated for public offering and 90% for international placement, along with a 15% over-allotment option [1]. Group 2: Business Overview - Jinxun Resources is recognized as a leading manufacturer of high-quality cathode copper, ranking fifth among Chinese producers based on output in the Democratic Republic of Congo and Zambia [2]. - The company focuses on developing and supplying premium copper resources to meet China's substantial demand, leveraging Africa's rich copper reserves for strategic capacity expansion [2]. - Jinxun Resources has established advanced cathode copper smelting operations in Congo and Zambia, enhancing its economic efficiency and market position [2]. Group 3: Financial Performance - The company's revenue for the years 2022, 2023, and 2024 was reported as RMB 637 million, RMB 676 million, and RMB 1.77 billion, respectively, with a net profit of RMB 83.5 million, RMB 29.1 million, and RMB 202 million for the same periods [2]. - For the six months ending June 30, 2025, the revenue was RMB 596 million, with a net profit of RMB 93.1 million, and for the subsequent six months, the revenue is projected to be RMB 964 million with a net profit of RMB 135 million [2]. Group 4: Use of Proceeds - Approximately 80% of the net proceeds from the global offering will be allocated to expanding the company's core business, while 10% will be used to repay certain interest-bearing bank loans, and the remaining 10% for working capital and general corporate purposes [3].

根据弗若斯特沙利文的资料，截至2024年12月31日，按在刚果（金）及赞比亚的产量计，金浔股份在中 国阴极铜生产商中排名第五，是唯一同时在这两个司法管辖区排名前五的中国公司。2024年，公司分别 在刚果（金）生产约16000吨阴极铜，在赞比亚生产约5000吨阴极铜。在中国民营企业中，按2024年的 产量计，公司在刚果（金）排名第三（市场份额0.9%），在赞比亚排名第一（市场份额0.8%）。 公司的核心业务是开发和供应优质铜资源，以满足中国庞大的铜需求，并通过在非洲扩大产能，实现了 整个产业价值链的深度整合。利用非洲矿石储量中铜和钴天然伴生的优势，公司正积极发展下游钴相关 产品生产业务，战略性布局快速增长的新能源材料领域。公司业务模式已从最初的有色金属贸易，逐步 发展为集矿物加工、冶炼及有色金属贸易为一体。 （原标题：金浔股份通过港交所聆讯 华泰国际担任独家保荐人） 金浔股份已通过香港交易所主板上市聆讯，由华泰国际担任独家保荐人。 ...

格隆汇12月21日｜阴极铜制造商金浔资源通过港交所上市聆讯，拟在香港主板上市。独家保荐人华泰国 际。 聆讯后资料集显示，该公司在刚果(金)及赞比亚拥有强大的影响力。根据弗若斯特沙利文的资料，截至 去年12月底，按在刚果(金)及赞比亚的产量计，公司在中国阴极铜生产商中排名第五，并为两个司法管 辖区中唯一排名前五大的中国公司。具体而言，公司于2024年在刚果(金)及赞比亚分别生产约1.6万吨及 5000吨阴极铜。 今年上半年收入9.64亿元，同比升61.72%；净利润1.35亿元，同比增长45.01%，主要受惠于生产量增 加，带动收入及毛利增长。 该公司的核心业务专注于开发及供应优质铜资源，并利用非洲丰富的铜储量，战略性地扩大产能，实现 了整个产业价值链的深度整合。公司在刚果(金)及赞比亚建立了先进的阴极铜冶炼业务，大幅提升其经 济效益及市场地位。此外，利用非洲矿石储量中铜和钴天然伴生的优势，正积极发展下游钴相关产品生 产业务，使自身在快速增长的新能源材料领域进行了战略性布局。 ...

Core Viewpoint - FTSE Russell announced changes to the FTSE China Index series, including the FTSE China A50 Index, which will include new stocks and exclude others, effective December 22, 2025 [1][2][3]. Group 1: Index Changes - The FTSE China A50 Index will include Luoyang Molybdenum and Sungrow Power Supply, while excluding Jiangsu Bank and SF Express [2][3]. - The FTSE China 50 Index will add China Hongqiao Group (P shares), CATL (H shares), and Jiangsu Hengrui Medicine (H shares), removing China Securities (H shares), Great Wall Motor (H shares), and Li Auto [2][3]. - The changes reflect significant year-to-date performance of the newly included stocks, with Luoyang Molybdenum up 173.35% and Sungrow Power Supply up 145.57% [3]. Group 2: Industry Insights - The newly added stocks are primarily from the non-ferrous metals, pharmaceuticals, and lithium battery storage sectors, indicating market trends in both A-shares and H-shares [4]. - Analysts remain optimistic about the non-ferrous metals sector, predicting a new upward cycle driven by macroeconomic recovery and supply chain disruptions [5]. - The gold market is expected to continue its bullish trend, supported by liquidity easing from the Federal Reserve and increased global demand for gold [5]. Group 3: Metal and Lithium Battery Outlook - The copper market is anticipated to see upward price movements due to supply constraints and structural demand growth from new energy transitions [6]. - The lithium battery sector is experiencing significant investment growth, with expectations for continued demand driven by energy storage needs [6][7]. - China's competitive advantage in the global lithium battery market is highlighted, with six of the top ten global power battery companies being Chinese, holding a market share of 68.2% [7].

全球阴极铜产量从2020年的1970万吨增至2024年的2140万吨，复合年增长率为2.1%，并预计在2025年 至2029年间将从2190万吨增至2470万吨，复合年增长率为3.0%。 全球阴极铜消费量从2020年的2250万吨增至2024年的2700万吨，复合年增长率为4.7%，主要原因包括 可再生能源及电动汽车行业需求激增以及新兴经济体基础设施支出。预计未来全球消费量将从2025年的 2780万吨增至2029年的3050万吨，复合年增长率为2.3%。 截至2024年12月31日，按在刚果（金）及赞比亚的产量计，金浔股份在中国阴极铜生产商中排名第五， 是唯一在两个司法管辖区均排名前五的中国公司；在中国的民营企业中，于刚果（金）排名第三，于赞 比亚排名第一。 公司业务涵盖矿石加工、冶炼、铜产品销售及有色金属贸易，在赞比亚和刚果（金）设有铜冶炼厂及浮 选厂。此外，正积极发展下游钴相关产品生产业务，在中国建设钴加工厂，布局新能源材料领域。 金浔股份向港交所主板递交上市申请，华泰国际为独家保荐人。公司专注于开发和供应优质阴极铜，利 用非洲丰富的铜储量，并实现了整个产业价值链的深度整合。 ...