Core Viewpoint - The company has signed a project cooperation and equity transfer agreement with Jinchuan Group Co., Ltd. to develop and process the Shapingou molybdenum mine in Jinzhai County, Anhui Province, under the framework of a previously signed letter of intent [1] Group 1: Agreement Details - The cooperation agreement outlines that Jinchuan Group and Anhui Jinsan Molybdenum Co., Ltd. will jointly invest to establish a smelting company focused on molybdenum metal smelting and deep processing [1] - The registered capital, investment scale, and production capacity of the smelting company will align with the development scale of the Shapingou molybdenum mine, ensuring a stable synergistic relationship [1] - Jinchuan Group and Jinsan Molybdenum will hold 51% and 49% equity in the smelting company, respectively, with Jinchuan Group leading the construction and operation [1]

Core Viewpoint - Zijin Mining announced a partnership with Jinchuan Group to establish a smelting company and transfer equity, aiming to enhance the efficient development of the Shapinggou molybdenum mine [1] Group 1: Partnership Details - On January 15, 2026, Zijin Mining signed a "Project Cooperation and Equity Transfer Agreement" with Jinchuan Group [1] - The partnership includes two main components: smelting cooperation and equity transaction [1] - Zijin Mining will transfer 24% equity of Jinchuan Molybdenum to Jinchuan Group for 173,087 million yuan, resulting in Zijin Mining holding 60% and Jinchuan Group holding 34% of the shares post-transfer [1] Group 2: Financial Terms - The payment for the equity transfer will be made in two installments [1] - If Jinchuan Group fails to invest as agreed, Zijin Mining retains the right to reclaim the equity [1] Group 3: Strategic Implications - This collaboration is expected to facilitate the efficient development of the Shapinggou molybdenum mine [1]

股票代码：601958 股票简称：金钼股份 公告编号： 2026-001 金堆城钼业股份有限公司 关于收购参股公司部分股权的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 交易内容概述：金堆城钼业股份有限公司（以下简称公司或金钼 股份）将以人民币 173,087 万元对价收购紫金矿业集团股份有限公司（以 下简称紫金矿业）转让的安徽金沙钼业有限公司（以下简称金沙钼业） 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（或 其全资子公司）持有金沙钼业 60%的股权。 本次交易不构成关联交易。 本次交易对于公司不构成《上市公司重大资产重组管理办法》规 定的重大资产重组。 本次交易在公司董事会决策的权限范围内，无需提交股东会审议。 风险提示：本次收购是公司基于发展战略和强化产业优势作出的 慎重决定，但面临未来可能存在行业政策变化、市场竞争环境、经营管 理等诸多不确定因素，存在一定的投资风险。敬请投资者理性判断，注 意投资风险。 1 2025 年 8 月 29 日，公司与紫金矿业签署《合作 ...

股票代码：601958 股票简称：金钼股份 公告编号：2026-002 金堆城钼业股份有限公司 关于变更审计报告签字注册会计师和质控 合伙人的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 金堆城钼业股份有限公司（以下简称公司或金钼股份）分别于2025 年4月1日召开的第五届董事会第十九次会议和6月24日召开的2024年年度 股东大会，审议通过了《关于聘请公司2025年度财务审计及内部控制审计 机构的议案》，同意聘请希格玛会计师事务所（特殊普通合伙）（以下简 称希格玛）担任公司2025年度财务审计及内部控制审计机构，具体详见公 司披露的《金钼股份聘请会计师事务所公告》（2025-006）及《金钼股份 2024年年度股东大会决议公告》（2025-016）。 近日，公司收到希格玛出具的《关于变更金堆城钼业股份有限公司 2025年度审计报告签字注册会计师和质控合伙人的函》，现将有关情况公 告如下： 一、本次审计项目合伙人及签字注册会计师变更情况 人员为公司年报项目（以下简称本项目）提供审计服务。由于希格玛内部 工作调整原 ...

每经AI快讯，1月15日，金钼股份公告称，将以17.31亿元对价收购紫金矿业转让的安徽金沙钼业有限公 司24%股权。交易完成后，公司将持有金沙钼业34%的股权，紫金矿业（或其全资子公司）持有60%。 此次收购旨在强化资源保障，巩固行业影响力，并加快实现沙坪沟钼矿开发建设。交易不构成关联交 易，无需提交股东会审议。 ...

再推【钼】：海外军备或大幅扩张，22 年行情有望复现 20260112 摘要 钼价受供需关系影响显著，近期虽因南美进口矿超预期增加及钢厂盈利 走弱而下跌，但 11 月出口恢复理性，库存仍处低位，价格已回升至 4,200 元/吨。 2026 年前 11 个月，国内钼产量小幅增长，进口量大幅增加 93%，表 观消费增长 6%，需求旺盛与钢招量增长一致，验证了去库逻辑，支撑 钼均价持续上涨。 高端不锈钢是钼需求的主要构成，占比 50%，其次是品种钢和军用特钢。 油气领域资本开支减少对高端不锈钢消费有影响，但整体钢产量仍增长， 品种钢和军用特钢订单旺盛。 全球钼供应增速预计在 26-27 年较低（2-3%），而需求增速更强（4- 5%），叠加当前低库存，未来两到三年内钼价具备较强的上涨确定性。 钨与钼在军用领域存在替代或孪生关系，钨价创新高后，部分需求可能 转向成本相对较低的钼。美国国防开支增加也将拉动对钼的需求。 Q&A 为什么在当前时间点推荐木板块？ 目前木价已经回到了应有的位置，且美国总统特朗普宣布 2027 年国防开支将 达到 1.5 万亿美元，这一消息预示着海外军费预期大幅提升。钼本身的供需缺 口在 202 ...

Group 1: Copper - The LME copper price increased by 1.94% to $12,702.0 per ton, while Shanghai copper rose by 3.23% to 101,400 yuan per ton [1] - Domestic copper inventory increased by 6.29% week-on-week, marking six consecutive weeks of accumulation, with total inventory up by 168,100 tons year-on-year [1][12] - The operating rate of the yellow copper rod industry decreased by 0.61% to 46.98%, while the enameled wire industry saw a decline of 0.66% in operating rate to 74.87% [1][12] Group 2: Aluminum - The LME aluminum price rose by 2.22% to $3,088.00 per ton, and Shanghai aluminum increased by 6.13% to 24,300 yuan per ton [2][13] - The operating rate of domestic aluminum processing leading enterprises increased by 0.2% to 60.1%, indicating a mixed performance across different aluminum processing sectors [2][13] - The total production capacity of metallurgical-grade alumina reached 110.32 million tons per year, with an operating rate of 80.51% [2][13] Group 3: Gold - COMEX gold price increased by 3.36% to $4,487.9 per ounce, with SPDR gold holdings rising by 2 tons to 1,067.13 tons [3][14] - Geopolitical risks, including U.S. military actions in Venezuela and unrest in Iran, have contributed to a strong and volatile market for gold [3][14] Group 4: Rare Earths - The price of praseodymium and neodymium oxide increased by 2.90%, with November exports of rare earth permanent magnets rising by 12% month-on-month and 28% year-on-year, reaching a historical high for the month [4][36] - The expectation of more relaxed export policies and ongoing supply constraints are likely to support future demand and price increases in the rare earth sector [4][36] Group 5: Lithium - The average price of lithium carbonate increased by 11.5% to 131,800 yuan per ton, while lithium hydroxide rose by 10.9% to 126,900 yuan per ton [4][60] - Total lithium carbonate production reached 22,500 tons, with a slight increase of 0.01 million tons week-on-week [4][60] Group 6: Cobalt - The price of cobalt in the Jiangxi market rose by 1.1% to 460,000 yuan per ton, with cobalt intermediate prices also showing slight increases [5][63] - The overall cobalt market remains strong, with supply tightness expected to continue, supporting price stability [5][63] Group 7: Nickel - LME nickel price increased by 1.8% to $17,100 per ton, while Shanghai nickel rose by 4.3% to 138,000 yuan per ton [5][64] - Nickel market sentiment turned optimistic due to potential tightening of nickel ore quotas in Indonesia, leading to price increases [5][64]

Core Viewpoint - The non-ferrous metal sector continues to surge, with a net inflow of 17.5 billion yuan on January 9, ranking third among 31 first-level industries in the Shenwan classification [1][8] - The popular ETF, Huabao Non-Ferrous ETF (159876), saw its price rise over 3.5% during the day, closing up 3.24%, reaching a new historical high [1][8] - The ETF's trading volume exceeded its listing high, indicating a potential buying signal for investors [1][8] Fund Inflows and Performance - Huabao Non-Ferrous ETF experienced a net subscription of 57.6 million units, with a total net inflow of 194 million yuan over the past five days, and 279 million yuan over the last ten days [1][8] - The trading volume for the ETF reached 88.1 million yuan, showing a slight increase compared to previous periods [1][8] Market Trends and Analysis - The U.S. non-farm payroll report released on January 9 indicates potential for further interest rate cuts by the Federal Reserve, which could lead to a super cycle for industrial metals like copper and aluminum [2][8] - Recent price increases in various minor metals, particularly tungsten, are attributed to supply constraints and rising global demand for strategic resources [2][8] - Analysts predict that under conditions of loose liquidity and frequent supply disruptions, prices for copper, aluminum, gold, and battery metals are likely to continue rising through 2026 [2][8] Sector Highlights - Leading stocks in the non-ferrous metal sector, such as Yunnan Zinc Industry and Xiamen Tungsten Industry, have shown significant gains, with some stocks reaching their daily limit [3][10] - The Huabao Non-Ferrous ETF covers a wide range of industries, including precious metals, strategic metals, and industrial metals, allowing for better exposure to the sector's performance [4][8]

Market Overview - A-shares experienced a significant rally, with the Shanghai Composite Index breaking through 4100 points, achieving a 16-day winning streak [1] - The total trading volume in the Shanghai and Shenzhen markets reached 3.12 trillion yuan, marking a substantial increase of 322.4 billion yuan from the previous trading day [1] - Over 3900 stocks rose, with more than 100 stocks hitting the daily limit for two consecutive days [1] Key Sectors Military Industry - The military sector saw a strong performance, with the military ETF Huabao (512810) surging over 5.5% at one point, closing up 3.91% and achieving a weekly gain of 13.57% [3][5] - 73 out of 80 constituent stocks in the military ETF rose, with 8 stocks increasing over 10% [3] - The military ETF is heavily weighted towards commercial aerospace stocks, which account for over 32% of its index [7][8] AI Applications - AI applications experienced explosive growth, with the entrepreneurial board AI ETF (159363) rising 2.75% to a new high, and several stocks hitting the daily limit [15] - The AI sector is expected to see significant revenue growth as applications become more integrated into various industries [19] Non-Ferrous Metals - The non-ferrous metals sector continued to soar, with the non-ferrous ETF Huabao (159876) rising 3.24% to a new historical high, supported by a net inflow of 576 million yuan [10][13] - Key stocks in this sector, such as tungsten and other strategic metals, have seen significant price increases due to supply constraints and strong demand from industries like military and renewable energy [12][13] Trading Activity - The military ETF Huabao (512810) recorded a trading volume of 1.32 billion yuan, the highest in nearly a month [5] - The non-ferrous ETF Huabao (159876) saw a trading volume of 881 million yuan, indicating strong investor interest [10] Future Outlook - Analysts predict that the global military trade market will grow, with China's military trade expected to accelerate due to increased international defense spending [9] - The non-ferrous metals market is anticipated to maintain upward momentum, driven by structural demand and supply disruptions [13]

Group 1 - The non-ferrous metal sector experienced significant inflows, with a net capital inflow of 17.5 billion yuan on January 9, ranking third among 31 Shenwan first-level industries [1] - The popular ETF, Huabao Non-ferrous ETF (159876), saw its price rise over 3.5% during the day, closing up 3.24%, reaching a new historical high [1] - The ETF recorded a net subscription of 57.6 million units, with a total net inflow of 279 million yuan over the past 10 days [1] Group 2 - Several small metal varieties have seen significant price increases, particularly tungsten, driven by supply constraints and growing demand for strategic resources [2] - Analysts predict a "super cycle" for industrial metals like copper and aluminum, supported by loose liquidity and strong structural demand [2][3] - The Huabao Non-ferrous ETF covers a wide range of sectors including copper, aluminum, gold, rare earths, and lithium, allowing for better exposure to the entire sector's performance [4]