BK0768 Copper Concept
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Strong inflow of foreign capital is another trend vane: Middle Eastern tycoons increase their presence in China, and multinational sovereign wealth funds continue to lay out A-shares
① The Abu Dhabi Investment Authority and the Kuwait Investment Authority held a large number of A-share listed companies in the first quarter; ② the Middle East Sovereign Fund also stepped up research on A-shares ③ Other overseas sovereign wealth funds are increasing their layout in the Chinese market.
Production of the two major mines in the Democratic Republic of the Congo (DRC) hit a record high in a single quarter, and the net profit of the Luoyang Molybdenum industry increased more than fivefold in Q1 | Financial Report Interpretation
① Luoyang Molybdenum's Q1 net profit increased more than fivefold; ② KFM and TFM production of the two major copper-cobalt mines in the Democratic Republic of the Congo (DRC) reached record highs in the first quarter.
Weekly preview | Tech giants set off a frenzy of results releases! Tesla, Meta, Microsoft, and Google are on the list one after another
US GDP for the first quarter and core PCE data for March will be released. China's April LPR will be announced on Monday; the Bank of Japan will announce the new interest rate decision on Friday.
[Data review] Northbound Capital reduced its positions for 8 consecutive days, and many Zijin Mining's low-altitude economy concept stocks were bought by institutions
① Zijin Mining received a net sale of 377 million yuan from northbound capital today. The stock has been net sold for 8 consecutive trading days. ② Low-altitude economy concept stocks such as Wanfeng Aowei, CITIC Haizhi, and Andarville were all bought by institutions. Among them, Wanfeng Aowei was bought by an agency over 70 million.
Zangge Mining in the midst of a vortex: the actual controller's former “richest man in Qinghai” criminal case, the subsidiary has already been taxed twice
① Following the recent tax inspection of the subsidiary, Zangge Mining announced tonight that the actual controller, Xiao Yongming, had been taken coercive measures in a suspected criminal case; ② Xiao Yongming was once the richest man in Qinghai. He was sentenced in 2022 for illegal mining, and his sentence was commuted to acquittal the following year.
Northbound Capital Purchase Report: Changan Auto received a net purchase of 435 million yuan
Northbound Capital made a significant net purchase of 2,022 billion yuan today.
Once again, it was investigated that it affected the profit and loss of 214 million yuan of listed companies this year! The taxes and fees of the Zangge Mining subsidiary have been added and made up
① Zangge Mining announced today that the subsidiary Zangge Potash will have to pay a total of 480 million yuan in taxes and late fees related to value-added tax, resource tax, corporate income tax, etc. from 2021 to 2023, which is expected to directly affect the profits and losses of listed companies; ② It is worth noting that this is not the first time that Zangge Potash has been subject to tax inspections.
Northbound Capital Purchase Report: Zijin Mining received net sales of 551 million yuan
On April 3, Northbound Capital had a net sale of 2,275 billion yuan throughout the day, which was a net sale for 2 consecutive trading days.
Hong Kong Stock Afternoon Review | The three major indices fell sharply, the science index fell more than 1%, and Xiaomi fell more than 3%; gold stocks rose against the market, and Zhaojin Mining rose nearly 6%
Auto stocks fell, with NIO falling more than 5%, and Xiaopeng Motors falling nearly 5%; most domestic housing stocks and property management stocks weakened, with Longhu Group falling nearly 3% and Sun Hung Kai Properties falling by more than 2%; many copper stocks rose, Minmetals Resources rose more than 5%, and Jiangxi Copper shares surpassed 3%.
The “big jewelry merchants” behind the gold craze grab the limelight of “gold miners”: Lao Fengxiang's strong rise and stopped at record highs, and the stock prices of Chifeng Gold and Sichuan Gold fell short at high levels
① Spot gold reached a new record high, with retail prices of pure gold jewelry generally rising. On the A-share side, Lao Fengxiang closed the day and reached a record high; ② According to a brokerage research report, the stock price performance of gold and jewelry companies has been better since the current rise in gold prices; ③ sort out the list of listed companies that responded to the impact of the rise in gold prices on related businesses this month (attached table).
Overseas high-voltage fast charging industry trends may benefit the most from accelerating these core components
① Ford Motor Company and Allego, a leading pan-European public electric vehicle fast and ultra-fast charging network company, announced on Tuesday that they have reached a strategic partnership to provide hundreds of Ford dealers in Europe with ultra-fast charging infrastructure. ② Chen Zikun of GF Securities believes that the links with high future value potential mainly include high-value, high-differentiated component systems. High-end copper alloy tracks that are expected to benefit from high-pressure fast charging industry trends are preferred.
Lithium and potassium price cuts “double impact” Zangge Mining's 2023 revenue and net profit drop | Annual Report Interpretation
① Affected by sharp fluctuations in lithium carbonate prices, Zangge Mining's share of lithium salt revenue fell below 50%; ② Mamicuo Salt Lake's first 50,000 ton lithium carbonate project is still one of the key projects. Zangge Mining previously revealed that it will be completed and put into operation before the end of this year.
Announcement Highlights: Xiaomi Q4's adjusted net profit increased 236.1% year on year; Xiaopeng Motor Q4's adjusted net loss decreased by 19.9% year on year
Li Ning's revenue in 2023 was 27.598 billion yuan, an increase of 7.0%; China Unicom's profit due to equity holders in 2023 was 18.7 billion yuan, an increase of 11.8% over the previous year.
The “inexplicable trouble” of gold stocks: the “high and strong” price of gold drives a sharp increase in annual report performance, while the high price of gold in Chifeng is close to falling short
① The international gold price continues to be above the $2,000 per ounce mark. In terms of A-shares, Shandong Gold, Chifeng Gold, and China Gold rank in the top three of the gold sector's annual pre-performance increase; ② However, the performance of the secondary market was lukewarm. The second-tier market performance was lackluster. The biggest cumulative decline in stock prices so far was close to a standstill.
Net profit increased by up to 100%! Many gold companies saw high profits in 2023, and domestic jewellery consumption reached a record high
In 2023, many gold and retail companies generally achieved good profit growth in 2023. Among them, Shandong Gold and Caibai Co., Ltd. expect annual net profit increases of 60% to 100% year-on-year.
The establishment of the 40 billion state-owned enterprise asset optimization and upgrading fund, the revaluation of state-owned enterprises continues to usher in catalysis
① The signing ceremony for the State-owned Enterprise Stock Asset Optimization and Upgrading Fund was held in Beijing. The fund was approved by the State Council's State-owned Assets Administration Commission, and China Guoxin co-sponsored by China Cinda, China Oriental, and China Great Wall, with a total scale of 40 billion yuan. ② The Guotai Junan Strategy Team pointed out that in the future, the opportunities are still “development and safety” around the “chain owners” and specialized integration of the industrial chain proposed by the State Assets Administration Commission, focusing on high-end equipment, transportation, and energy.
“Babysitter” becomes “mother” Jin Chengxin plans to hold a copper mine with 1 dollar to involve “gambling and borrowing”
① The copper mine to be acquired is a customer that Jin Chengxin is currently serving. ② Two unusual operations of “$1” and “gambling and borrowing” also appeared in the proposed acquisition plan.
[Looking at the data] Northbound capital greatly increased its positions, BYD's three powerful investors joined forces to grab China Mining resources
① Today, BYD received more than 700 million net purchases from Northbound Capital. In addition, new energy stocks such as Tianqi Lithium and Tongwei Co., Ltd. all received net purchases from Northbound Capital. ② The lithium ore stock China Mining Resources was purchased by three first-tier investors, of which CaiTong Securities bought 107 million yuan from Shangtang Road in Hangzhou.
The 1.47 billion yuan convertible bond project goes one step further, Yuguang Gold Lead: it is impossible to accurately measure the long-term profit level of the project
① Referring to the issuance process of other companies' convertible bonds, it is expected that there may be new developments in the near future, but the announcement still prevails. ② Behind Yuguang Gold and Lead's different predictions for the same project in less than a year, it is a microcosm of the decline in the copper foil industry.
Copper and cobalt production increased by more than 50% last year Luoyang Molybdenum Industry: TFM's new production line is expected to reach production in the first half of the year
① In 2023, with the increase in Congolese gold TFM and KFM production, the company's copper-cobalt production showed explosive growth. ② The construction of the TFM mixed mine project was completed last year, and three new production lines are expected to reach production in the first half of this year.