SGZIJIN@EC2606A

JPMorgan Increases Holdings in Zijin Mining H Shares

BOA Securities Raises Output Projections for Zijin Mining to 2028

DBS Analyst Maintains Buy Rating on Zijin Gold International, Sets Target Price at HKD 253.00

Zijin Mining Outlines Ore Production Targets for 2025-2028

Zijin Mining Board Approves 2026-2028 Production Plan and Sets 2035 Long-Term Goals

Zijin Mining provides guarantee for its wholly-owned subsidiary

Zijin Mining Successfully Issued $1.5 Billion Zero-Coupon Convertible Bonds

UBS Increases Its Long Position in Zijin Mining H Shares to 5.53%

Zijin Mining Subsidiary Jincai Investment Issues $1.5 Billion Zero-Coupon Convertible Bonds

Zijin Mining's $1.5 billion convertible bond fully subscribed within 10 minutes

Morgan Stanley Raises Zijin Mining Target Price to 59 Yuan

Zijin Mining to Acquire Allied Gold for RMB 28 Billion

JPMorgan Positive on Zijin Mining's Expansion of Copper and Gold Resources, Maintains Target Price

Morgan Stanley: Zijin Mining Plans to Acquire Allied Gold for CAD 5.5 Billion

Zijin Gold International Expanding Global Gold Investment Portfolio

Zijin Gold International Plans to Acquire Barrick Gold for CAD 5.5 Billion

Zijin Mining Plans to Acquire Allied Gold for RMB 28 Billion

Zijin Mining Plans to Acquire Barrick Gold's 100% Equity for 28 Billion CNY

Zijin Gold International to Acquire Allied Gold for About $4.02 Billion

Zijin Mining's Julong Copper Mine Phase II Project Commences Production

TIMES UNI GP

CENTURY GINWA

STARGLORY HLDGS

RIDGE OUTDOOR

SYNAGISTICS

PROSP INV HOLD

HING LEE (HK)

ELEGANCEOPTICAL

CH ENV TECH&BIO

SHANGHAI QINGPU

159881

561330

02899

601899

512400

516650

The National Bureau of Statistics report shows that in January, the PPI rose by 0.4% month-on-month, marking an increase for four consecutive months, with the growth rate expanding by 0.2 percentage points compared to the previous month. Key features include: the construction of a unified national market driving price increases in certain industries, increased demand leading to price rises in related industries, and input factors affecting the divergence in price trends. Specifically, the prices of cement and lithium-ion battery manufacturing both increased by 0.1%, photovoltaic equipment prices rose by 1.9%, and computer communication equipment prices increased by 0.5%. The rise in international non-ferrous metal prices has driven up prices in related domestic industries

Wallstreetcn

Guotai CSI Non-ferrous Metal ETF

BYD Company

CONCH CEMENT

BYD COMPANY

CATL

Penghua Guozheng Non-ferrous Metal Industry ETF

Jinkosolar

BYD Company Limited

Guotai CSI All Share building Materials ETF

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

CNBM

ZIJIN MINING

CHALCO

Jinko Solar

Zijin Mining

Wanjia CSI Industry Non-Ferrous Metal Theme ETF

E Fund CSI All Share Building Materials ETF

China Southern CSI SWS Non-Ferrous Metal ETF

Tongwei Co.,Ltd

JIANGXI COPPER

Fullgoal CSI All Share Building Materials ETF

CSCEC

JCCL

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

National Bureau of Statistics: In January, the PPI rose by 0.4% month-on-month, increasing for four consecutive months, with the growth rate expanding by 0.2 percentage points compared to the previous month

02259

Goldman Sachs pointed out that global capital is accelerating its shift from financial assets to hard assets such as commodities in search of safe havens, forming a "hard asset rotation." This trend is expected to drive the prices of metals like copper and gold to remain high in the long term, potentially even surpassing the support of physical supply and demand fundamentals. Due to the relatively small scale of the metal market, limited supply elasticity, and easier storage, the marginal impact of capital inflows is particularly significant. This structural allocation shift may lead to a long-term premium for certain commodities

- In response to increasing volatility in global stock markets, investors are shifting funds into hard assets like commodities for risk mitigation.  
- Goldman Sachs identifies this "hard asset rotation" as a key driver for maintaining high metal prices, which could surpass levels supported by physical supply and demand fundamentals.  
- The firm notes that ongoing asset allocation adjustments may sustain elevated copper prices and create structural premiums in the market, amidst risks tied to changing investor sentiment and macroeconomic uncertainty.

Kinross Gold

Gold.com

ZHONGJIN GOLD

SD-GOLD

Agnico Eagle Mines

ZIJIN GOLD INTL

Newmont

GLOBAL X Gold Explorers

ISHRS MSCI Glb Slct Met & Mining

SPDR S&P Mtls & Mng

iShares Copper and Metals Mining ETF

VanEck Junior Gold Miners ETF

iShares MSCI Global Silver Miners

Abrdn Gold ETF Trust

Sprott Junior Copper Miners ETF

United States Copper Index

iShares Gold Trust

Pro Ultr GLD

EFUND GOLD MI-R

Global X Copper Miners

SPDR Gold Shares

VanEck Gold Miners ETF

YieldMax Gold Miners Opt Inc Strgy ETF

Roundhill Gold Miners Weeklypay ETF

Us Gbl GLD & Met

Sprott Copper Miners ETF

Sprott JR Gold Miners ETF

Tradr 2X Long NEM Daily ETF

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

Abrdn Precious Metals Basket ETF Trust

EFUND GOLD MI ETF

EFUND GOLD MI-U

Sprott Active Gold & Silver Miners ETF

Sprott GLD Miners Etf

ChinaAMC Gold ETF

Wisdomtree Efficient Gold Plus Gold Miners Stgy Fd - ETF

iShares MSCI Global Gold Miners

Goldman Sachs: Global capital begins "hard asset rotation," commodities may welcome long-term premiums

The Huizhong Research Report pointed out that Zijin Mining announced its mineral production plan for the next three years, aiming to become one of the top three global copper and gold producers by 2035. It is expected that copper production in 2025, 2026, and 2028 will be 1.09 million tons, 1.2 million tons, and 1.5-1.6 million tons respectively, while gold production will be 90 tons, 105 tons, and 130-140 tons. HSBC believes that copper and gold prices are supported by geopolitical risks, supply constraints, and a weakening dollar, maintaining a target price of HKD 58 for Zijin's H shares and RMB 51.2 for its A shares, with a rating of "Buy."

AASTOCKS

The report from "Big Banks" expects copper and gold prices to continue to be supported by geopolitical factors, maintaining a "Buy" rating for Zijin Mining

The Hang Seng Index opened 175 points higher this morning, reporting at 27,202 points. Among blue-chip stocks, ZIJIN MINING rose nearly 3%, and Pop Mart rose 2.4%. Tech stocks generally moved upward, with Tencent rising 0.5%, Xiaomi rising 0.8%, Baidu rising nearly 1%, and NetEase rising 2.4%. Alibaba's stock price rose 1.1%, and JD.com rose 1.2%. The new stock RIDGE OUTDOOR officially listed today, with a public offering recorded at 3,653 times oversubscribed. The US stock market continued to rebound, with the Dow Jones rising 20 points, the S&P 500 rising 32 points, and the Nasdaq rising 207 points

- The U.S. stock market continued its rebound, with the Dow Jones rising 20 points, the S&P 500 up 32 points, and the Nasdaq increasing by 207 points.  
- Alphabet plans to issue $20 billion in bonds, exceeding initial forecasts, with strong demand reported, while the Hang Seng Index saw gains led by tech stocks.  
- Interestingly, new offerings like Le Xin Outdoors reported extreme oversubscription, indicating significant investor interest in the Hong Kong market.

Stheadline

BIDU-SW

JD.com

ALI HEALTH

JD-SW

CSOP HSI ETF

Yinhua CSI Non-ferrous Metal ETF

AXA SPDB CSI Hugangshen Game and Culture Media ETF

CSOP HS TECH

KraneShares 2x Long JD Daily ETF

NTES-S

The Hang Seng Index opened up 175 points, tech stocks rose, Zijin Mining increased nearly 3%, and new stock Ridge Outdoor surged 96% | Hong Kong stock market opens

36Kr learned that the Hang Seng Index opened up 0.65%, and the Hang Seng Technology Index rose 0.82%; the consumer and non-ferrous metal sectors led the gains, with POP MART and Zijin Mining rising over 2%; the steel and consumer services sectors saw the largest declines, with Maanshan Iron falling over 2% and Haidilao dropping over 1%

36Kr

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

Hang Seng Index

GX CN CONSUME-U

Hwabao WP CSI Non-ferrous Metal ETF

POP MART

GF CSI Rare Metals Theme ETF

MAS C.L.

Hang Seng TECH Index

GX HS TECH

CAM HS TECH

HAIDILAO

Guotai CSI Iron & Steel ETF

MAANSHAN IRON

China Southern Hang Seng ETF

The Hang Seng Index opened up 0.65%, and the Hang Seng TECH Index rose 0.82%

36Kr learned that the Hang Seng Index rose by 1.76%, and the Hang Seng Tech Index increased by 1.34%; the semiconductor, consumer, and non-ferrous metal sectors led the gains, with TIANYU SEMI, ZIJIN MINING, and POP MART rising over 5%; the telecommunications services and oil & petrochemical sectors saw the largest declines, with China Telecom and China Mobile dropping over 2%, and China Unicom and Shandong Molong falling over 1%; southbound funds had a net outflow of HKD 1.886 billion

SOLOMON SYSTECH

Hua Hong

TIANYU SEMI

HUA HONG SEMI

China Southern CSI Semiconductor Industry Custom ETF

GF Fund CSI Semiconductor Material Equipment Theme ETF

ChinaAMC Guozheng Semiconductor Chip ETF

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

Guotai CSI Semiconductor Material Equipment Theme ETF

ChinaAMC CSI Semiconductor Material & Equipment Thematic ETF

ChinaAMC SSE STAR Semiconductor Material & Equipment Thematic ETF

Guotai CES Semiconductor Chip Industry ETF

GTJA Allianz SSE STAR Chip Design Thematic ETF

The Hang Seng Index closed up 1.76%, and the Hang Seng Tech Index rose 1.34%

Zijin Mining has raised its gold production target for 2028 by nearly 30%, aiming for a position among the top three globally; at the same time, it has significantly increased its lithium capacity planning, with a target of 120,000 tons of lithium carbonate equivalent production by 2026 and a target of 270,000 to 320,000 tons by 2028. According to preliminary accounting data in the announcement, the company's revenue for 2025 is expected to be 345 billion yuan, an increase of approximately 28% compared to 2022, and the net profit attributable to the parent company is expected to be between 51 billion and 52 billion yuan, an increase of approximately 155% to 160%

- Zijin Mining has significantly raised its future gold production target to 130-140 tonnes by 2028, a nearly 30% increase from its previous goal.  
- The adjustment reflects the company's confidence in market prospects and its strategy to accelerate gold output amidst rising gold prices.  
- Following the announcement, Zijin's stock price rose by 4.1% to 40.72 HKD, supported by strong growth forecasts in revenue and profits for 2025.

Up nearly 30%! Zijin Mining plans gold production target: aiming for 130 to 140 tons by 2028

Eunyoung Lee from DBS has maintained a Buy rating on Zijin Gold International Company Limited (2259), setting a price target of HK$253.00. Lee, a 5-star analyst, boasts an average return of 47.1% and a 76.92% success rate. The overall analyst consensus for Zijin Gold is a Strong Buy, with an average price target of HK$204.86 according to TipRanks.

Tip Ranks

New Buy Rating for Zijin Gold International Company Limited (2259), the Basic Materials Giant

JP Morgan released a list of "high conviction" stocks in emerging markets, all of which received "overweight" ratings. This includes a target price of HKD 210 for Alibaba, a target price of HKD 100 for Ping An, a target price of HKD 48 for Zijin Mining, as well as stocks from other regions such as Taiwan Semiconductor (2330.TW), Samsung Electronics (005930.KS), and State Bank of India (SBIN.IN)

Ping An

Taiwan Semiconductor

Ping An Insurance

BABA-W

Samsung Electronics 

Alibaba

PING AN

KraneShares 2x Long BABA Daily ETF

BABA 2x Long Daily ETF - GraniteShares

"Big Banks" JP Morgan lists the latest "high conviction" stock list for emerging markets (Table)

China's stock market saw a rebound on Monday, with the Shanghai Composite rising 1% to over 4,100 and the Shenzhen Component gaining 1.8% to 14,160. Technology and mining stocks led the recovery, with notable gains from Suzhou TFC Optical (15%) and Zijin Mining (2.6%). Montage Technology's shares surged over 50% in their Hong Kong debut after raising $902 million. This recovery follows a week of pressure on tech shares due to concerns over AI spending and its impact on traditional software models.

Trading Economics

Montage Technology

SSE Index

Shenzhen Index

China Stocks Rise as Tech, Miners Rebound

Zijin Mining Group's Hong Kong shares rose 4.7% to HK$40.94, marking the largest one-day gain in seven weeks. The stock is set to end a two-day decline and is the fifth biggest gainer in the Hang Seng Composite Index. The company forecasts a net profit of 51-52 billion yuan for 2025, up from 32.05 billion yuan in 2024, with copper output expected to reach 1.09 million tons and gold output at 90 tons in 2025. Year-to-date, Hong Kong shares are up 13.9%.

Reuters

Zijin Mining Hong Kong shares rise most in 7 weeks on robust earnings outlook

Zijin Mining Group Co Ltd :2025 COPPER OUTPUT 1.09 MILLION TONNES2025 GOLD OUTPUT 90 TONNEZIJIN MINING SEES 2026 MINE-PRODUCED GOLD OF 105 TONNEZIJIN MINING SEES 2028 MINE-PRODUCED GOLD OF 130-140 TONNESEES 2026 MINE-PRODUCED COPPER 1.20 MILLION TONNESSEES 2028 MINE-PRODUCED COPPER 1.50-1.60 MILLION TONNES2025 NET PROFIT ATTRIBUTABLE APPROXIMATELY RMB51.0-52.0 BILLION2025 OPERATING INCOME APPROXIMATELY RMB345.0 BILLION

Zijin Mining Logs 2025 Copper Output 1.09 Mln Tonnes

Zijin Mining Targeting Higher Mine Output by 2028

marketscreener

Zijin Mining Targeting Higher Mine Output by 2028

All the best, everyone. However your portfolio is.

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Trade risks and commodity volatility are back, the AI arms race is heating up, and deal activity plus meme-stock chatter are adding to market

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The market is a cocktail of geopolitics, AI ambition, and classic volatility today. Let's unpack the key drivers:

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🔥 Market Digest: AI Arms Race, Trade Threats & Meme Stock Revival | Jan 27, 2026