China Mining Resources (002738): Performance is pressured, the company's BIKITA mine project has been implemented to improve the raw material self-sufficiency rate, and the proposed acquisition of KITUMBA copper is expected to bring new growth points
Incident: The company released the 2023 Annual Report and the 2024 First Quarter Report. Revenue and profit declined year-on-year. The company's revenue in 2023 was 6.013 billion yuan, -25.22% YoY; net profit attributable to mother 22.
Deng Xiaofeng reduced his holdings of cyclical stocks and added a new automotive chip stock
Deng Xiaofeng, the star fund manager who made a fortune of 10 billion dollars in Zijin Mining, reduced his holdings of cyclical stocks such as Zijin Mining, Yunlu shares, and China Aluminum in the first quarter of this year, sending a signal that some profits have come to an end for cyclical stocks. Specifically, Deng Xiaofeng took action against the biggest stock. The market value of Zijin Mining once soared by more than 470 billion yuan this year, continuously reaching record highs. Deng Xiaofeng began taking heavy positions as early as 2019. The market expects its holding cost to be around 3 yuan/share, and Zijin Mining's stock price will rise to more than 19 yuan/share. Deng Xiaofeng made a lot of money from this investment. When capital poured into cyclical stocks, Deng Xiaofeng began to reduce his holdings. In the first quarter of this year, Gao Yi Xiaofeng
Express News | China Railway and Gansu Road and Bridge equal Lanzhou's investment to establish a highway company
Zhejiang Fu Holdings (002266): Revenue from hazardous waste business is increasing steadily, and clean energy equipment is expected to be released
Core view: Revenue is growing steadily, and performance is affected by factors such as hedging losses and fierce competition in the industry. The company achieved revenue of 18.95 billion yuan (+12.9% YoY) and net profit of 1,026 billion yuan to mother in 2023 (same period)
Changes in Hong Kong stocks | Major lithium carbonate futures contracts rose more than 5% Tianqi Lithium (09696) and Ganfeng Lithium (01772) both rose more than 4%
Lithium stocks rose in the afternoon. As of press release, Tianqi Lithium (09696) rose 4.08% to HK$30.6; Ganfeng Lithium (01772) rose 3.56% to HK$23.25.
A-share afternoon review: Shanghai index recovered 3,100 points, GEM index rose 3.6%, real estate stocks collectively surged
Major A-share indices rose collectively. As of the midday close, the Shanghai Index rose 0.8% to 3113.29 points, the Shenzhen Stock Exchange Index rose 2.18%, and the GEM Index rose 3.6%.