11月25日，华友钴业涨5.03%，截至发稿，报61.13元/股，成交37.46亿元，换手率3.33%，总市值 1159.08亿元。 截至发稿，苗宇累计任职时间10年290天，现任基金资产总规模115.76亿元，任职期间最佳基金回报 194.53%， 任职期间最差基金回报-24.91%。 王焯累计任职时间2年296天，现任基金资产总规模30.07亿元，任职期间最佳基金回报24.18%， 任职期 间最差基金回报-11.61%。 资料显示，浙江华友钴业股份有限公司位于浙江省桐乡经济开发区二期梧振东路18号，成立日期2002年 5月22日，上市日期2015年1月29日，公司主营业务涉及新能源锂电材料和钴新材料产品的研发制造。主 营业务收入构成为：镍产品34.54%，正极材料16.28%，贸易及其他15.55%，镍中间品14.91%，铜产品 5.95%，三元前驱体5.25%，锂产品4.18%，钴产品3.33%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 从基金十大重仓股角度 ...

Core Viewpoint - Huayou Cobalt experienced a decline of 5.03% on November 24, with a stock price of 56.68 CNY per share and a total market capitalization of 107.47 billion CNY [1] Company Overview - Zhejiang Huayou Cobalt Co., Ltd. was established on May 22, 2002, and listed on January 29, 2015. The company specializes in the research and manufacturing of new energy lithium battery materials and cobalt new materials [1] - The revenue composition of Huayou Cobalt includes: nickel products (34.54%), cathode materials (16.28%), trading and others (15.55%), nickel intermediates (14.91%), copper products (5.95%), ternary precursors (5.25%), lithium products (4.18%), and cobalt products (3.33%) [1] Fund Holdings - According to data, one fund under CITIC Prudential holds a significant position in Huayou Cobalt. The CITIC Prudential CSI 800 Nonferrous Index (LOF) A (165520) reduced its holdings by 74,000 shares in the third quarter, now holding 987,500 shares, which accounts for 5.39% of the fund's net value, ranking it as the fourth-largest holding [2] - The fund has reported a floating loss of approximately 2.96 million CNY as of the latest update [2] Fund Performance - The CITIC Prudential CSI 800 Nonferrous Index (LOF) A (165520) was established on January 1, 2021, with a current scale of 1.013 billion CNY. Year-to-date, it has achieved a return of 66.88%, ranking 77 out of 4,208 in its category. Over the past year, it has returned 53.39%, ranking 130 out of 3,981, and since inception, it has returned 171.69% [2]

Core Viewpoint - Lygend Resources & Technology is initiated with an OUTPERFORM rating and a target price (TP) of HK$27.56, reflecting a 10x 2026 estimated P/E ratio, due to its leadership in the global nickel industry and integrated operations across the nickel supply chain [1] Company Overview - Lygend Resources & Technology has transitioned from nickel ore trading to industrial operations, establishing a comprehensive presence in the nickel industry chain, including trading, smelting, production, and equipment manufacturing [1] - The company has secured long-term trade and supply agreements with upstream mining companies in the Philippines, Indonesia, and other regions, enhancing its resource stability [1] Competitive Advantages - The construction of a nickel business ecosystem covering the entire industry chain provides Lygend with distinctive competitive advantages, including stable resource supply through equity stakes granted to Indonesian partners [2] - The establishment of independent overseas industrial parks equipped with necessary infrastructure allows for operational autonomy and reduced transaction costs [2] - Collaborations with high-quality resource suppliers and long-term agreements with top-tier LiB material suppliers strengthen the company's position across the industry chain [2] Market Dynamics - The Democratic Republic of the Congo (DRC) has announced a cobalt export quota system, which is expected to lead to a systematic increase in average cobalt prices, as the quotas for 2026-2027 will only account for 44% of its 2024 production [3][4] - The tightening regulations on cobalt export quotas are anticipated to benefit Lygend's hydrometallurgy project in Indonesia, potentially boosting earnings and valuation [4] Financial Projections - The estimated earnings per share (EPS) for Lygend is projected at Rmb1.74 in 2025 and Rmb2.49 in 2026, indicating a compound annual growth rate (CAGR) of 48% from 2024 to 2026 [4] - The stock is currently trading at 10.2x 2025 estimated P/E and 7.0x 2026 estimated P/E, with a target price suggesting a 43% upside [4]

Core Viewpoint - Huayou Cobalt's stock price has seen significant growth this year, with a year-to-date increase of 134.05%, indicating strong market performance and investor interest [1][2]. Group 1: Stock Performance - As of November 20, Huayou Cobalt's stock price reached 67.33 CNY per share, with a trading volume of 1.587 billion CNY and a market capitalization of 127.664 billion CNY [1]. - The stock has experienced a 2.92% increase over the last five trading days, a 7.30% increase over the last 20 days, and a 47.98% increase over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on October 9 [1]. Group 2: Financial Performance - For the period from January to September 2025, Huayou Cobalt reported a revenue of 58.941 billion CNY, reflecting a year-on-year growth of 29.57%, and a net profit attributable to shareholders of 4.216 billion CNY, which is a 39.59% increase year-on-year [2]. - The company has distributed a total of 3.876 billion CNY in dividends since its A-share listing, with 2.835 billion CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Huayou Cobalt had 257,100 shareholders, an increase of 31.78% from the previous period, with an average of 7,328 circulating shares per shareholder, down 15.22% [2]. - Major shareholders include Hong Kong Central Clearing Limited, holding 148 million shares, and various ETFs such as Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF, with notable changes in their holdings [3].

兴合景气智选混合发起式A（024674）成立日期2025年7月25日，最新规模5307.1万。成立以来收益 12.53%。 兴合景气智选混合发起式A（024674）基金经理为梁辰星。 11月18日，华友钴业跌5.04%，截至发稿，报64.19元/股，成交51.95亿元，换手率4.19%，总市值 1217.10亿元。 截至发稿，梁辰星累计任职时间2年104天，现任基金资产总规模1.66亿元，任职期间最佳基金回报 84.93%， 任职期间最差基金回报12.64%。 资料显示，浙江华友钴业股份有限公司位于浙江省桐乡经济开发区二期梧振东路18号，成立日期2002年 5月22日，上市日期2015年1月29日，公司主营业务涉及新能源锂电材料和钴新材料产品的研发制造。主 营业务收入构成为：镍产品34.54%，正极材料16.28%，贸易及其他15.55%，镍中间品14.91%，铜产品 5.95%，三元前驱体5.25%，锂产品4.18%，钴产品3.33%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个 ...

资料显示，浙江华友钴业股份有限公司位于浙江省桐乡经济开发区二期梧振东路18号，成立日期2002年 5月22日，上市日期2015年1月29日，公司主营业务涉及新能源锂电材料和钴新材料产品的研发制造。主 营业务收入构成为：镍产品34.54%，正极材料16.28%，贸易及其他15.55%，镍中间品14.91%，铜产品 5.95%，三元前驱体5.25%，锂产品4.18%，钴产品3.33%。 恒生前海沪港深新兴产业精选混合（004332）基金经理为邢程。 截至发稿，邢程累计任职时间3年242天，现任基金资产总规模3.44亿元，任职期间最佳基金回报 87.69%， 任职期间最差基金回报-29.15%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 11月18日，华友钴业跌5.04%，截至发稿，报64.19元/股，成交51.96亿元，换手率4.19%，总市值 1217.10亿元。 从基金十大重仓股角度 数据显示，恒生前海基金旗下1只基金重仓华友钴业。恒生前海沪港深新兴产业精选混合（0 ...

11月17日，华友钴业涨5.01%，截至发稿，报68.90元/股，成交62.38亿元，换手率4.90%，总市值 1306.41亿元。 资料显示，浙江华友钴业股份有限公司位于浙江省桐乡经济开发区二期梧振东路18号，成立日期2002年 5月22日，上市日期2015年1月29日，公司主营业务涉及新能源锂电材料和钴新材料产品的研发制造。主 营业务收入构成为：镍产品34.54%，正极材料16.28%，贸易及其他15.55%，镍中间品14.91%，铜产品 5.95%，三元前驱体5.25%，锂产品4.18%，钴产品3.33%。 从基金十大重仓股角度 责任编辑：小浪快报 富荣价值精选混合A（006109）成立日期2018年8月10日，最新规模1141.96万。今年以来收益2.24%， 同类排名7631/8213；近一年收益3.08%，同类排名7363/8130；成立以来亏损12.2%。 富荣价值精选混合A（006109）基金经理为陈政龙。 截至发稿，陈政龙累计任职时间343天，现任基金资产总规模5075.96万元，任职期间最佳基金回报 2.99%， 任职期间最差基金回报2.68%。 风险提示：市场有风险，投资需谨慎。本文为A ...

Group 1 - The core viewpoint of the news is that Huayou Cobalt Co., Ltd. has seen a significant stock price increase of 5.12%, reaching 63.65 CNY per share, with a total market capitalization of 120.69 billion CNY [1] - Huayou Cobalt's main business involves the research and manufacturing of new energy lithium battery materials and cobalt new materials, with revenue composition including nickel products (34.54%), cathode materials (16.28%), and other segments [1] - The company is located in Tongxiang Economic Development Zone, Zhejiang Province, and was established on May 22, 2002, with its listing date on January 29, 2015 [1] Group 2 - From the perspective of fund holdings, Huayou Cobalt is the top holding of the Hengsheng Qianhai Fund, specifically in the Hengsheng Qianhai Hong Kong-Shenzhen Emerging Industry Selected Mixed Fund (004332), which holds 32,100 shares, accounting for 2.43% of the fund's net value [2] - The fund has achieved a year-to-date return of 33.76%, ranking 2404 out of 8145 in its category, and a one-year return of 31.03%, ranking 1886 out of 8059 [2] - The fund manager, Xing Cheng, has been in position for 3 years and 237 days, with the best fund return during this period being 87.69% [3]

Group 1 - The company, Zhongwei New Materials, is conducting a global offering of 104 million shares from November 7 to November 12, 2025, with a price range of HKD 34 to HKD 37.8 per share, and expects to start trading on November 17, 2025 [1] - The company is a leader in the production and sales of precursor materials for lithium-ion batteries, holding a market share of 20.3% for nickel-based and 28.0% for cobalt-based precursors in 2024, and ranks first globally with a total market share of 21.8% for all precursor products [1][2] - The company's products are essential for lithium-ion batteries used in electric vehicles, energy storage systems, and high-demand consumer electronics, indicating strong commercial potential [1] Group 2 - The company has established an integrated operation from upstream metal mining and refining to the production and recycling of new energy materials, enhancing its global influence in the supply chain and customer base [2] - In 2024, the company ranked sixth in the global nickel product market with a market share of 3.7%, showcasing its significant presence in the industry [2] - The company has entered cornerstone investment agreements with various entities, aiming to raise approximately USD 214 million, with an estimated net proceeds of HKD 3.628 billion from the global offering, which will be allocated to production expansion, R&D, and working capital [3]

Core Viewpoint - The stock price of Kolyuan has increased significantly this year, with a notable rise in recent trading days, indicating strong market interest and performance in the battery and materials sector [2][3]. Group 1: Stock Performance - Kolyuan's stock price has risen by 94.43% year-to-date, with an 8.51% increase in the last five trading days, a 21.30% increase over the last 20 days, and a 40.38% increase over the last 60 days [2]. - As of November 6, the stock was trading at 8.03 CNY per share, with a market capitalization of 13.374 billion CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, Kolyuan reported a revenue of 3.086 billion CNY, reflecting a year-on-year growth of 25.25%. The net profit attributable to shareholders was 132 million CNY, showing a remarkable increase of 539.97% [3]. - Cumulative cash dividends since the company's A-share listing amount to 89.324 million CNY, with 24.983 million CNY distributed over the last three years [4]. Group 3: Business Overview - Kolyuan, established in 1998 and listed in 2003, operates in the battery and materials sector, focusing on nickel-hydride batteries and expanding into lithium battery supply chains [2]. - The company's revenue composition includes 30.14% from power batteries, 29.76% from consumer batteries, 13.66% from nickel products, and 7.00% from lithium materials, among others [2]. - Kolyuan is categorized under the electric equipment and battery industry, with involvement in various concepts such as supercapacitors, energy storage, solid-state batteries, hydrogen energy, and battery recycling [2]. Group 4: Shareholder Information - As of September 30, 2025, Kolyuan had 85,700 shareholders, a decrease of 17.04% from the previous period, with an average of 19,427 circulating shares per shareholder, an increase of 20.54% [3]. - Notable new institutional shareholders include Hong Kong Central Clearing Limited and the Harvest CSI Rare Earth Industry ETF, holding 18.7572 million shares and 14.3275 million shares, respectively [4].