在一系列有力举措推动下，鹰潭国库服务成效不断显现。今年以来，累计为各铜产业园区拨付奖补激 励、支持发展、科技创新等支出超3.63亿元，全市金融机构发放退税质押贷款151笔、金额合计21.19亿 元，国库办理铜产业相关退税24.23亿元。 强化政策协同，助企惠企"聚铜心"。中国人民银行鹰潭市分行主动打破部门壁垒，推动国库与财政、税 务、产业园区等多方建立常态化跨部门协同机制，组建专业服务团队，常态化深入鹰潭市高新区、贵溪 市经开区等铜产业聚集园区开展政策宣讲，重点普及电子退税流程、国债投资等业务知识，全程护 航"稳企贷""工创贷"等财政贷款风险补偿机制落地。同时，对相关贷款贴息资金拨付开设绿色通道，实 行优先审核、即时拨付，确保惠企政策资金当日到账、精准落地。 深化资金融通，退税活水"润铜企"。中国人民银行鹰潭市分行持续完善库税银金融服务平台功能，定期 整合企业纳税申报、退税明细等核心数据，动态更新铜企"白名单""纳税规模名单"等分类清单推送至金 融机构，同步开放企业历史涉税信息查询窗口，为银行授信铜企办理退税质押融资等提供精准数据支 撑。为进一步挖掘国库数据价值，按季对铜企纳税、退税等数据进行跟踪监测，并深入 ...

Group 1 - Jiangnan New Materials (SH 603124) announced on October 29 that its 15th meeting of the second board of directors was held on October 28, 2025, combining on-site and communication voting methods [1] - The company reported that for the year 2024, its revenue composition is 99.97% from copper-based new materials and 0.03% from other businesses [1] - As of the report date, Jiangnan New Materials has a market capitalization of 13.7 billion yuan [1]

Core Viewpoint - Minmetals Copper's operational stability is highlighted, with expectations for the second phase of the Mirador copper mine to commence production, which will enhance self-sufficiency in copper supply [1] Group 1: Operational Performance - The smelting segment has experienced a significant decline in profits due to a sharp drop in copper processing fees, but the impact is limited as the profit decline is much smaller than the decrease in processing fees, likely due to contributions from by-products [1] - Jinlong Copper achieved a net profit of 323 million yuan in H1 2025, a year-on-year decline of 30%, while Chifeng Jincopper reported a net profit of 190 million yuan, down 36% year-on-year [1] - The resilience in smelting profits is attributed to the gross profit margin of chemical and other products, which reached 55.04%, an increase of 39.05 percentage points year-on-year [1] Group 2: Industry Chain Development - The Mirador copper mine's integration is complete, with expected self-produced copper output reaching 155,000 tons in 2024, and the second phase project set to launch in 2025, further enhancing self-sufficiency [1] - The copper-based new materials project is progressing steadily, with smelting capacity expected to increase, benefiting from transportation and location advantages, placing smelting costs on the lower end of the cost curve [1] - The annual production capacity for copper foil is 80,000 tons, indicating ongoing integrated development within the copper industry chain, with steady capacity construction and promising future increments from the Mirador copper mine's second phase [1]

Core Viewpoint - Jiangxi Jiangnan New Materials Technology Co., Ltd. experienced a significant stock price fluctuation, with a cumulative closing price deviation exceeding 20% over three consecutive trading days in August 2025 [2][4]. Group 1: Stock Trading Anomaly - The company's stock price increased significantly on August 15, 18, and 19, 2025, leading to a cumulative price deviation of over 20%, which is classified as an abnormal trading situation according to the Shanghai Stock Exchange rules [2][4]. - The company has conducted a self-examination and confirmed that there are no undisclosed significant information related to the stock price fluctuation [5][6]. Group 2: Company Operations - The company is primarily engaged in the research, production, and sales of copper-based new materials, and its production and operational conditions are reported to be normal without any significant changes [5]. - There are no major events such as asset restructuring, share issuance, or significant business cooperation that could impact the stock price [6][8]. Group 3: Market Sentiment and Information Disclosure - The company has not identified any media reports or market rumors that require clarification or response [7]. - There are no other significant events that could impact the stock price, and the company's major stakeholders have not engaged in buying or selling shares during the period of stock price fluctuation [8].

Core Viewpoint - Jiangxi Jiangnan New Materials Technology Co., Ltd. experienced a significant stock price fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days, indicating abnormal trading activity [1][2]. Group 1: Stock Trading Abnormalities - The company's stock price increased by more than 20% cumulatively on July 31, August 1, and August 4, 2025, which is classified as an abnormal trading situation according to the Shanghai Stock Exchange regulations [1]. - The company conducted a self-examination and confirmed that there were no undisclosed significant information related to the stock price fluctuations [2]. Group 2: Business Operations - The company is primarily engaged in the research, production, and sales of copper-based new materials, and its production and operational conditions are reported to be normal without any significant changes in its main business or external operating environment [1][2]. Group 3: Major Events and Information - There are no undisclosed major events that could significantly impact the company's stock price, including major asset restructuring, share issuance, or significant business cooperation [2]. - The company did not identify any media reports or market rumors that required clarification or response [2]. Group 4: Board of Directors Statement - The board of directors confirmed that there are no undisclosed matters that should be disclosed according to the Shanghai Stock Exchange regulations, and previous disclosures do not require correction or supplementation [3].

Core Viewpoint - Jiangnan New Materials (603124.SH) announced that its stock trading has experienced unusual fluctuations, but the company confirmed that its production and operational status remain normal, with no significant changes in its main business, products, or internal and external operating environment [1] Company Summary - Jiangnan New Materials primarily engages in the research, development, production, and sales of copper-based new materials [1] - The company conducted a self-examination and found no undisclosed significant information that should be reported [1]

Group 1 - The number of IPOs in Hong Kong has significantly increased in the first half of 2025, with A-share companies also increasingly announcing plans to list in Hong Kong [1] - In Q2 2025, the Hong Kong Stock Exchange (HKEX) surpassed NASDAQ in terms of fundraising scale, achieving a net fundraising amount of HKD 1,067.13 billion, a year-on-year increase of 688.56% [2][3] - Despite having fewer IPOs than NASDAQ in Q2 (27 vs. 83), the fundraising amount from Hong Kong IPOs reached HKD 880.44 billion, exceeding NASDAQ's USD 9.5 billion (approximately HKD 744.94 billion) [3] Group 2 - The number of Chinese companies listing in the US has increased, with 40 companies going public in the first half of 2025, up from 25 in the same period last year. However, the total fundraising amount decreased by 59.73% to USD 7.45 billion [4] - The largest fundraising in A-shares during the first half of 2025 was from Zhongce Rubber, which raised RMB 39.33 billion, followed by Tianyouwei and Yingshi Innovation [5] - The largest IPO in the US was from Venture Global, raising USD 1.67 billion, while the largest in Hong Kong was CATL, raising HKD 353.31 billion (approximately USD 45.01 billion) [7] Group 3 - The best-performing new stocks in A-shares this year include Jiangnan New Materials with a cumulative increase of 419.29%, followed by Haibosichuang and Tianhe Magnetic Materials [8] - In the US market, the top-performing new stocks include Diginex with a cumulative increase of 584.00%, followed by Anbio and CoreWeave [8] - In Hong Kong, the best-performing new stock is Gu Ming, with a cumulative increase of 158.06% [8] Group 4 - The number of companies queued for IPOs in Hong Kong for the second half of 2025 has significantly increased, with at least 8 companies confirmed to list in July and August [9] - From June 27 to June 30, 23 companies submitted applications for the first time on the HKEX, including several A-share companies [9] - The influx of new listings may lead to differentiated performance based on the flow of funds and the quality of the companies, emphasizing the importance of fundamental analysis over speculative trading [9]

Group 1 - The core viewpoint of the article indicates that Jiangnan New Materials (603124) primarily supplies copper-based new materials to PCB manufacturers, with some customers being suppliers to Nvidia, but the company does not supply Nvidia directly [1]

Core Viewpoint - The establishment of the copper-based new materials key laboratory in Shanxi Province marks a significant recognition of innovation capabilities in the field, focusing on technological innovation, achievement transformation, and talent cultivation to support the transformation and upgrading of the copper industry [1][2]. Group 1: Laboratory Establishment and Recognition - The copper-based new materials laboratory, led by Northern Copper Industry, passed the evaluation organized by the Shanxi Provincial Science and Technology Department, indicating its authoritative recognition in innovation capabilities and platform construction [2]. - The laboratory was approved for construction in December 2022 and has made significant progress in key technology breakthroughs, research platform construction, and achievement transformation over the past two years [2][3]. Group 2: Innovation and Research Collaboration - The laboratory focuses on building a full-chain innovation system aligned with Shanxi Province's "14th Five-Year" new materials industry plan, integrating basic research, technology tackling, and achievement transformation [3]. - Northern Copper Industry, in collaboration with universities, has applied for seven provincial and municipal research projects and signed two horizontal projects, promoting core technology iteration [3]. Group 3: Research Achievements and Talent Development - Over the past two years, the laboratory has published ten papers, applied for ten invention patents, and achieved significant breakthroughs in product development, including a record-breaking 20,000 meters length of 6μm ultra-thin copper foil [4]. - The laboratory has also trained over 20 master's and doctoral students and 18 technical backbones, creating a virtuous cycle of talent cultivation and research promotion [4]. Group 4: Future Goals and Strategic Direction - The laboratory aims to continue its mission in tackling key core technologies in the high-end copper-based new materials field, enhancing innovation outcomes, and fostering high-level academic exchanges [4]. - The leadership of the laboratory emphasizes resource coordination and strategic layout to overcome challenges such as equipment shortages and technological blockades, aiming to elevate the copper industry in Shanxi to a first-class innovation hub [4].

Core Viewpoint - Taiyuan City is focusing on industrial transformation and the cultivation of strategic emerging industries, enhancing innovation and establishing a green manufacturing system to drive high-quality economic development [1][31]. Group 1: Macroeconomic Analysis - Taiyuan's GDP for 2024 is projected to be CNY 541.887 billion, with a growth rate of 1.2%. The primary, secondary, and tertiary industries contribute CNY 4.785 billion, CNY 166.671 billion, and CNY 370.431 billion respectively, with the tertiary sector growing by 1.6% [2][4]. - The proportion of strategic emerging industries in Taiyuan's industrial output is increasing, with a 2024 forecast showing a 37.3% contribution to the total industrial output, up 1.4 percentage points from the previous year [4]. Group 2: Investment Trends - Fixed asset investment in Taiyuan is expected to grow by 0.5% in 2024, with 136 ongoing projects valued over CNY 1 billion, representing 35.9% of total investment [6]. - Industrial investment is projected to account for 27.7% of total investment, with a significant increase of 24.7% year-on-year [6]. Group 3: Industrial Structure - Taiyuan is constructing a modern industrial system centered around the "1233" key industrial chain system, which includes nine major industrial chains contributing approximately 70% of the city's industrial output [10][31]. - The "1233" system focuses on high-end metal materials, advanced carbon-based materials, and advanced biological materials, among others, with 118 key enterprises involved [10][31]. Group 4: Innovation and R&D - In 2023, Taiyuan's R&D expenditure reached CNY 12.79 billion, ranking first in Shanxi Province, indicating a strong focus on innovation [8]. - The city is implementing four major projects to enhance innovation capabilities, including optimizing the innovation ecosystem and promoting the transformation of innovative results [8]. Group 5: Key Industries - The high-end metal materials industry is a pillar of Taiyuan's economy, with significant products including special steel and new magnesium alloys, generating CNY 118.3 billion in revenue in 2023 [19][20]. - The carbon-based materials industry is leveraging local coal resources and advanced research capabilities, with a focus on both traditional and cutting-edge carbon materials [25][27]. - The advanced biological materials and biopharmaceutical industry is developing rapidly, focusing on bio-based new materials and recombinant human collagen protein [29]. Group 6: Policy Framework - Taiyuan has introduced several policies to support high-quality development, including plans for digital transformation and the establishment of advanced manufacturing bases [16][18]. - The city aims to achieve significant results in industrial high-quality development by 2025, enhancing its competitive advantages [16].