Core Viewpoint - Zijin Mining (601899) and Jinchuan Group Co., Ltd. (601958) have signed a cooperation agreement for the integrated development and deep processing of the Shapinggou Molybdenum Mine in Anhui Province, enhancing resource utilization and economic benefits [1][2]. Group 1 - The cooperation agreement was signed on January 15, 2026, following a framework established in a letter of intent signed on August 29, 2025 [1]. - Jinchuan Group will collaborate with Anhui Jinsan Molybdenum Co., Ltd. to establish a smelting company in the county where the Shapinggou Molybdenum Mine is located, with a capital structure aligned with the mine's development scale [1][2]. - The ownership of the smelting company will be divided, with Jinchuan Group holding 51% and Jinsan Molybdenum holding 49%, while Jinchuan Group will lead the construction and operation [1]. Group 2 - Zijin Mining will transfer 24% of its stake in Jinsan Molybdenum to Jinchuan Group for a consideration of RMB 173,087 million, resulting in Zijin Mining holding 60% and Jinchuan Group holding 34% of Jinsan Molybdenum [2]. - The Shapinggou Molybdenum Mine is noted for being a rare, large undeveloped porphyry-type molybdenum mine with significant resource reserves and high-grade ore [2]. - This collaboration aims to create a complementary advantage between Zijin Mining's mining operations and Jinchuan Group's smelting and processing capabilities, promoting efficient development and extending the industrial chain [2].

Core Viewpoint - Zijin Mining (02899.HK) has signed a project cooperation and equity transfer agreement with Jinchuan Group Co., Ltd. to develop and process the Shapinggou Molybdenum Mine in Anhui Province, China, enhancing resource utilization and economic benefits [1][2] Group 1: Agreement Details - The cooperation agreement was signed on January 15, 2026, following a letter of intent signed on August 29, 2025 [1] - Jinchuan Group and Anhui Jinsan Molybdenum Co., Ltd. will jointly invest to establish a smelting company in the region, with a capital structure aligned with the development scale of the Shapinggou Molybdenum Mine [1][2] - Jinchuan Group will hold 51% and Anhui Jinsan Molybdenum will hold 49% of the smelting company, which will be primarily operated by Jinchuan Group [1] Group 2: Equity Transfer - Zijin Mining will transfer 24% of its stake in Anhui Jinsan Molybdenum to Jinchuan Group for a consideration of RMB 173,087,000 [2] - Post-transfer, Zijin Mining will hold 60%, Jinchuan Group 34%, and the local development company 6% of Anhui Jinsan Molybdenum [2] Group 3: Resource and Economic Impact - The Shapinggou Molybdenum Mine is a rare, large undeveloped porphyry-type molybdenum mine with significant resource reserves and high-grade ore [2] - The collaboration aims to create a complementary advantage between Zijin Mining's mining operations and Jinchuan Group's smelting and processing capabilities, promoting efficient development and extending the industrial chain [2]

Core Viewpoint - Zijin Mining (02899) has signed a project cooperation and equity transfer agreement with Jinchuan Group Co., Ltd. to develop and process the Shapingou Molybdenum Mine in Anhui Province, enhancing resource utilization and economic benefits [1][2] Group 1: Agreement Details - The cooperation agreement was signed on January 15, 2026, following a letter of intent signed on August 29, 2025 [1] - Jinchuan Group will collaborate with Anhui Jinsan Molybdenum Co., Ltd. to establish a smelting company in the county where the Shapingou Molybdenum Mine is located, with a capital structure aligned with the mine's development scale [1][2] - Jinchuan Group and Jinsan Molybdenum will hold 51% and 49% of the smelting company's shares, respectively, with Jinchuan Group leading the construction and operation [1] Group 2: Equity Transfer - Zijin Mining will transfer 24% of its stake in Jinsan Molybdenum to Jinchuan Group for a consideration of RMB 173,087 million [2] - Post-transfer, Zijin Mining will hold 60%, Jinchuan Group 34%, and Jinchuan County Urban Development Investment Co., Ltd. 6% of Jinsan Molybdenum [2] Group 3: Resource and Economic Impact - The Shapingou Molybdenum Mine is a rare, large undeveloped porphyry-type molybdenum mine with significant resource reserves and high-grade ore [2] - The collaboration aims to create a complementary advantage with Zijin Mining leading the mining development and Jinchuan Group focusing on smelting and processing, promoting efficient resource development and local economic growth [2]

關於簽署沙坪溝鉬礦項目合作及股權轉讓協議的公告 茲提述紫金礦業集團股份有限公司（以下簡稱「紫金礦業」或「本公司」）日期為 2022 年 10 月 21 日的關於收購安徽沙坪溝鉬礦的公告及 2025 年 8 月 29 日的關於安徽沙坪溝鉬礦項目 收購完成交割暨簽署《合作意向書》的公告（「該等公告」）。除另有定義外，本公告內所用 辭彚與該等公告所載者具有相同涵義。 2026 年 1 月 15 日，本公司與金堆城鉬業股份有限公司（以下簡稱「金鉬股份」，上海證券交 易所股票代碼：601958）簽署《項目合作及股權轉讓協議》（以下簡稱「《合作協議》」）。雙方 在 2025 年 8 月 29 日簽署的《合作意向書》框架下，正式就安徽省金寨縣沙坪溝鉬礦（以下 簡稱「沙坪溝鉬礦」）的一體化開發和深加工等業務達成一攬子合作。 一、合作方案 本次合作包括冶煉合作、股權交易兩部份，具體如下： （一）冶煉合作 依據《合作協議》，金鉬股份應與安徽金沙鉬業有限公司（持有沙坪溝鉬礦 100%權益，以下 簡稱「金沙鉬業」）共同出資，在金沙鉬業所在縣域設立從事鉬金屬冶煉和深加工等業務的 冶煉公司（以下簡稱「冶煉公司」），其註冊資本、投資規模、 ...

Group 1 - Siyuan Electric reported a total operating revenue of 21.205 billion yuan for 2025, a year-on-year increase of 37.18%, with a net profit attributable to shareholders of 3.163 billion yuan, up 54.35% year-on-year [1] - VisiOn expects a negative net profit for 2025, indicating a loss in operating performance [2] - Chongqing Steel anticipates a net loss of 2.5 billion to 2.8 billion yuan for 2025, which is an improvement from a net loss of 3.196 billion yuan in the previous year [3] - Lianfa Co. forecasts a net profit of 280 million to 320 million yuan for 2025, representing a year-on-year growth of 38.92% to 58.77% [4] Group 2 - CICC announced that the audit work related to the absorption merger with Dongxing Securities and Xinda Securities has not yet been completed [5] - Dalong Real Estate's subsidiary won a project bid worth 763 million yuan [6] - Zhongchuang Zhiling plans to issue convertible bonds to raise no more than 4.35 billion yuan for various projects [7] - Jintong Co. intends to acquire a 24% stake in Jinsha Molybdenum for 1.731 billion yuan [8] Group 3 - Nami Technology expects a net profit of 128 million to 145 million yuan for 2025, an increase of 54.51% to 75.03% year-on-year [9] - China State Construction reported a new contract total of 4.5458 trillion yuan for 2025, a 1% increase year-on-year [12] - China Metallurgical Group's new contract amount for 2025 is expected to decrease by 10.8% to 1.1136 trillion yuan [13] Group 4 - Beiding Co. reported a net profit of 111 million yuan for 2025, a year-on-year increase of 59.05% [14] - Southwest Securities expects a net profit of 1.028 billion to 1.098 billion yuan for 2025, an increase of 47% to 57% [15] - China Eastern Airlines reported a 4.93% year-on-year increase in passenger capacity for December 2025 [20] Group 5 - *ST Aowei's stock may be delisted due to a closing price below par value [21] - Yilian Network expects a net profit of 2.542 billion to 2.648 billion yuan for 2025, a decrease of 0% to 4% year-on-year [22] - Huochen Co. anticipates a net profit of 420 million to 540 million yuan for 2025, recovering from a loss of 2 million yuan in the previous year [17] Group 6 - Guoli Electronics expects a net profit of 68 million to 80 million yuan for 2025, an increase of 124.89% to 164.57% [28] - Jinchuan Group forecasts a net profit of 11 billion to 12 billion yuan for 2025, a year-on-year increase of 73.57% to 89.34% [41] - Triangle Tire plans to invest 3.219 billion yuan in a new tire project in Cambodia [42]

Core Viewpoint - Zijin Mining Group Co., Ltd. has signed a project cooperation and equity transfer agreement with Jinduicheng Molybdenum Co., Ltd. for the integrated development and deep processing of the Shapingou Molybdenum Mine in Jinzhai County, Anhui Province [1] Group 1: Agreement Details - The agreement was signed on January 15, 2026, following a cooperation intention letter signed on August 29, 2025 [1] - Zijin Mining will transfer 24% equity of Jinsan Molybdenum Co. to Jinduicheng Molybdenum for a consideration of RMB 173,087 million [1] - Post-transfer, Zijin Mining will hold 60% of Jinsan Molybdenum, Jinduicheng Molybdenum will hold 34%, and Jinzhai County Urban Development Investment Co., Ltd. will hold 6% [1] Group 2: Project Significance - The Shapingou Molybdenum Mine is a rare super-large undeveloped porphyry molybdenum mine with significant resource reserves, single composition, concentrated ore body, and high grade [1] - This cooperation aims to create a complementary advantage where Zijin Mining leads the mining development and Jinduicheng Molybdenum leads the smelting and processing [1] - The collaboration is expected to promote efficient development of the Shapingou Molybdenum Mine, extend the industrial chain, boost local economic development, and accelerate the transformation of resource advantages into economic benefits [1]

Monetary Policy - The People's Bank of China indicates that there is still room for reserve requirement ratio and interest rate cuts this year, with the current average reserve requirement ratio at 6.3% [1] - As of the end of December, the broad money supply (M2) reached 340.29 trillion yuan, reflecting an 8.5% year-on-year increase [1] Securities and Financing - Some brokerage firms are experiencing tight margin financing quotas, although major brokerages report sufficient funds [2] - Recent weeks have seen significant inflows into FOF products sold by fund companies through banks, with one company reporting over 200 million yuan in inflows [2] Automotive Industry - The price of entry-level LiDAR has dropped to around 1,000 to 3,000 yuan, which may enhance the adoption of traditional LiDAR in vehicles [3] - The demand for computing power in the automotive and autonomous driving sectors is expected to see a significant surge, potentially expanding tenfold with the rollout of L3 technology [3] Technology and Electronics - Global smartphone shipments are projected to reach 1.25 billion units in 2025, marking a 2% year-on-year increase, driven by seasonal demand and improved inventory management [4] - DRAM prices are rising due to suppliers hoarding inventory, with mainstream DDR4 prices increasing by approximately 9.64% [4] Corporate Developments - Vanke has proposed four debt restructuring plans, including options for full extension or partial repayment of principal, with a maximum of 40% principal repayment [4] - Longfor is seeking a valuation of approximately $30 billion for its Watsons retail subsidiary in an upcoming IPO [5] - Baoneng Automotive is reportedly facing a sales halt, with no vehicles available for sale [5] Financial Performance - China State Construction reported a 1% year-on-year increase in new contract value for 2025, totaling 45.458 trillion yuan [14] - China Metallurgical Group's new contract value for 2025 decreased by 10.8% year-on-year, totaling 1.1136 trillion yuan [15] - Siyuan Electric's net profit for 2025 is expected to grow by 54.35% year-on-year, reaching 3.163 billion yuan [16] - Chongqing Steel anticipates a net loss of 2.5 to 2.8 billion yuan for 2025, although this represents an improvement from the previous year's loss [18] Market Activity - The trading volume of the CSI 500 ETF exceeded 26.3 billion yuan, setting a historical record [22] - The Shanghai Composite Index fell by 0.33%, while the Shenzhen Component Index and the ChiNext Index saw gains [22][23]

Group 1 - Zijin Mining Group Co., Ltd. signed a project cooperation and equity transfer agreement with Jinduicheng Molybdenum Co., Ltd. on January 15, 2026 [1] - The agreement is based on a framework established in a letter of intent signed on August 29, 2025, regarding the integrated development and deep processing of the Shapinggou Molybdenum Mine in Jinzhai County, Anhui Province [1] - Jinduicheng Molybdenum Co., Ltd. and Anhui Jinsan Molybdenum Co., Ltd. will jointly invest to establish a smelting company in the county where Jinsan Molybdenum holds 100% equity of the Shapinggou Mine [1] Group 2 - The registered capital, investment scale, and production capacity of the smelting company will align with the development scale of the Shapinggou Mine to ensure stable synergy [1] - Jinduicheng Molybdenum Co., Ltd. and Jinsan Molybdenum will hold 51% and 49% equity in the smelting company, respectively, with Jinduicheng Molybdenum leading its construction and operation [1] - Zijin Mining agreed to transfer 24% equity of Jinsan Molybdenum to Jinduicheng Molybdenum for a consideration of RMB 173,087 million, resulting in Zijin Mining holding 60% and Jinduicheng Molybdenum holding 34% of Jinsan Molybdenum after the transfer [1]

Core Viewpoint - Zijin Mining Group Co., Ltd. has signed a project cooperation and equity transfer agreement with Jinduicheng Molybdenum Co., Ltd. for the integrated development and deep processing of the Shapingou Molybdenum Mine in Jinzhai County, Anhui Province [1] Group 1: Agreement Details - The agreement was signed on January 15, 2026, following a cooperation intention letter signed on August 29, 2025 [1] - Zijin Mining will transfer 24% equity of Jinsan Molybdenum Co. to Jinduicheng Molybdenum for a consideration of RMB 173,087 million [1] - Post-transfer, Zijin Mining will hold 60% of Jinsan Molybdenum, Jinduicheng Molybdenum will hold 34%, and Jinzhai County Urban Development Investment Co., Ltd. will hold 6% [1] Group 2: Project Significance - The Shapingou Molybdenum Mine is a rare super-large undeveloped porphyry molybdenum mine with significant resource reserves, single composition, concentrated ore body, and high grade [1] - This cooperation aims to create a complementary advantage where Zijin Mining leads the mining development and Jinduicheng Molybdenum leads the smelting and processing [1] - The project is expected to promote efficient development of the Shapingou Molybdenum Mine, extend the industrial chain, boost local economic development, and accelerate the transformation of resource advantages into economic benefits [1]

（记者 王晓波） 每经头条（nbdtoutiao）——不到20万元，就能买特斯拉了？"廉价版"Model 3或进入中国市场，续航里 程480公里！关于自动驾驶，美国市场也有大调整 每经AI快讯，金钼股份1月15日晚间发布公告称，公司将以人民币约17.31亿元对价收购紫金矿业集团股 份有限公司转让的安徽金沙钼业有限公司24%股权。本次交易完成后，公司持有金沙钼业34%的股权， 紫金矿业持有金沙钼业60%的股权。 ...