Core Viewpoint - The article discusses the performance of the Silver Hua ETF (159871) and its major holdings, highlighting a significant decline in share prices on February 6, 2023 [1] Group 1: ETF Performance - The Silver Hua ETF (159871) opened down by 4.35%, priced at 2.067 yuan [1] - Since its inception on March 10, 2021, the fund has achieved a return of 116.34%, with a one-month return of 8.68% [1] Group 2: Major Holdings Performance - Major holdings in the ETF experienced notable declines, including: - Zijin Mining down by 5.07% - Luoyang Molybdenum down by 5.28% - Northern Rare Earth down by 2.71% - Huayou Cobalt down by 3.31% - China Aluminum down by 3.64% - Ganfeng Lithium down by 3.04% - Shandong Gold down by 3.97% - Yun Aluminum down by 1.78% - Zhongjin Gold down by 6.08% - Zhongmin Resources down by 1.79% [1]

股票代码：603799 股票简称：华友钴业 公告编号：2026-008 浙江华友钴业股份有限公司 2026年度第三期超短期融资券发行结果公告 特此公告。 浙江华友钴业股份有限公司董事会 2026年2月6日 浙江华友钴业股份有限公司（以下简称"公司"）分别于2025年4月17日召开的第六届董事会第二十九次 会议和2025年5月9日召开的2024年年度股东大会审议通过了《关于公司及子公司2025年度发行非金融企 业债务融资工具的议案》，同意公司及子公司可以发行的债务融资工具类型包括但不限于公司债、企业 债、短期融资券、超短期融资券、中期票据、永续债、定向工具（PPN）、境外债券、北金所债权融资 计划等在内的本外币债务融资工具，发行方式包括公开发行和非公开定向发行。 公司已于近日完成了浙江华友钴业股份有限公司2026年度第三期超短期融资券（债券简称：26华友钴业 SCP003，以下简称"本期债券"）的发行。本期债券发行额为10亿元人民币，期限为260天，单位面值为 100元人民币，发行利率为2.24%。 本期债券由中信银行股份有限公司为主承销商组织承销团，通过簿记建档、集中配售的方式在全国银行 间债券市场公开发行。 ...

本期债券由中信银行股份有限公司为主承销商组织承销团，通过簿记建档、 集中配售的方式在全国银行间债券市场公开发行。本期债券募集资金将用于偿还 公司有息负债。 2026 年度第三期超短期融资券发行结果公告 浙江华友钴业股份有限公司 2026年度第三期超短期融资券发行结果公告 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法律责任。 浙江华友钴业股份有限公司（以下简称"公司"）分别于 2025 年 4 月 17 日 召开的第六届董事会第二十九次会议和 2025 年 5 月 9 日召开的 2024 年年度股东 大会审议通过了《关于公司及子公司 2025 年度发行非金融企业债务融资工具的议 案》，同意公司及子公司可以发行的债务融资工具类型包括但不限于公司债、企 业债、短期融资券、超短期融资券、中期票据、永续债、定向工具（PPN）、境外 债券、北金所债权融资计划等在内的本外币债务融资工具，发行方式包括公开发 行和非公开定向发行。 公司已于近日完成了浙江华友钴业股份有限公司 2026 年度第三期超短期融资 券（债券简称：26 华友钴业 SCP003， ...

华友钴业公告称，近日完成2026年度第三期超短期融资券（26华友钴业SCP003）发行，发行额为10.00 亿元，期限260天，面值100元，发行利率2.24%。由中信银行主承销，通过簿记建档、集中配售在全国 银行间债券市场公开发行。募集资金将用于偿还公司有息负债。具体情况和文件详见中国货币网和上海 清算所网站。 ...

Group 1 - The core viewpoint of the article highlights the resilience of the non-ferrous metal sector, as evidenced by the significant price increase of the Huabao Non-Ferrous ETF (159876), which rose by 6.4% yesterday and an additional 0.26% today, with a net subscription of 15 million units on February 4 [1][11] - The ETF has accumulated a total of 1.3 billion yuan in net subscriptions over the past 20 days, indicating strong investor interest in the sector [1][11] - Key stocks within the ETF include Jinmoly Co., which led with a rise of over 4%, and other notable performers such as Xingye Silver Tin and Huayou Cobalt, which increased by over 3% [3][13] Group 2 - The current spot price of gold has returned to 5,000 USD, following a significant rebound of 6% on February 3, marking the largest single-day increase since 2009 [1][15] - Factors contributing to the rise in gold prices include escalating geopolitical tensions between the US and Iran, which have heightened risk aversion among investors, and statements from Federal Reserve officials suggesting the need for more than 100 basis points in rate cuts this year [5][15] - Analysts from Tianfeng Securities predict that gold may enter a period of wide fluctuations but is expected to return to an upward trend within the year, supported by ongoing demand from global central banks [5][15] Group 3 - The Huabao Non-Ferrous ETF and its linked funds comprehensively cover various sectors including copper, aluminum, gold, rare earths, and lithium, allowing investors to capture the beta performance across different economic cycles [7][16] - The ETF serves as an efficient tool for investors looking to gain exposure to the non-ferrous metal sector, being a financing and margin trading target [7][16] - Institutional perspectives suggest that the current "super cycle" in non-ferrous metals is expected to last for 3-5 years, driven by supply-demand mismatches, macroeconomic easing, and industrial upgrades [5][15]

Core Insights - The article highlights a paradox in the non-ferrous metals sector where despite a significant bull market, very few public funds have captured the top-performing stocks [1][2] - The analysis indicates that institutional investors are generally avoiding stocks with historical governance issues or high uncertainty, even if market expectations are strong [2][3] Group 1: Stock Performance and Fund Holdings - Some non-ferrous metal stocks have seen remarkable price increases, with Zhaojin Gold rising over 540% and Xiaocheng Technology increasing over 362% since 2025 [2] - As of the end of 2025, Zhaojin Gold was held by only 15 funds, Xiaocheng Technology by 3 funds, and Hunan Silver by just 1 fund, indicating a lack of institutional interest in these high-performing stocks [2][4] Group 2: Institutional Investment Behavior - Public funds are constrained by strict compliance frameworks and risk management systems, leading to cautious investment decisions regarding companies with historical flaws or high operational uncertainty [3][4] - The preference for larger, more stable companies is evident, as only 17 non-ferrous stocks are held by over 100 funds, primarily those with market capitalizations exceeding 50 billion [4][5] Group 3: Market Trends and Future Outlook - The current non-ferrous metal market is supported by a multi-dimensional logic, including global liquidity easing and anticipated continued monetary and fiscal stimulus [6][8] - Supply constraints and new demand from sectors like AI and energy transition are focal points for institutional investors, with copper, gold, and aluminum identified as key investment directions [8][9]

Core Viewpoint - The lithium battery industry is expected to experience a significant growth wave in 2026, characterized by strong demand recovery, accelerated global expansion, and disruptive technological iterations, leading to a spiral growth pattern of "increased volume and price + technological leap" [3]. Group 1: Market Predictions - By 2025, global lithium battery production is projected to reach 2297 GWh, with a growth rate of 34.6% in 2026. The shipment growth rate for energy storage cells is anticipated to reach 70%, driven by both domestic and international demand [5]. - There is a notable supply gap in the effective production capacity of battery cells and various materials, making supply chain stability and efficiency crucial for capitalizing on this growth opportunity [5]. Group 2: Conference Details - The 2026 Lithium Key Materials and Application Market Summit will be held on March 19-20, 2026, in Changzhou, Jiangsu, organized by Xinluo Information [4]. - The summit will focus on two main topics: in-depth discussions on cutting-edge technologies and market supply-demand dynamics, and B2B procurement matchmaking to connect top battery manufacturers and material suppliers [6]. Group 3: Key Topics and Participants - The conference will feature specialized sessions on lithium carbonate futures, market volatility responses from lithium battery companies, and the potential of global lithium resources in 2026 [7][8]. - Notable participants include leading battery companies like CATL and BYD, as well as material suppliers covering the entire supply chain, including positive and negative materials, electrolytes, and separators [6].

Core Viewpoint - The lithium battery industry is poised for a significant growth cycle starting in 2026, characterized by strong demand recovery, accelerated global expansion, and disruptive technological advancements, leading to a "spiral rise" in both volume and price [3]. Group 1: Market Predictions - Global lithium battery production is expected to reach 2297 GWh by 2025, with a growth rate of 34.6% in 2026. The shipment growth rate for energy storage cells is projected to be as high as 70%, driven by dual domestic and international demand [5]. - There exists a notable supply gap in battery cells and various materials, necessitating a focus on ensuring a stable and efficient supply chain to capitalize on this growth opportunity [5]. Group 2: Conference Details - The 2026 Lithium Key Materials and Applications Market Summit will be held on March 19-20, 2026, in Changzhou, Jiangsu, organized by Xinluo Information [4]. - The summit will focus on two main topics: in-depth discussions on cutting-edge technologies and market supply-demand dynamics, and B2B procurement matchmaking to connect top battery manufacturers and material suppliers [6]. Group 3: Key Topics and Participants - The conference will feature specialized sessions on lithium carbonate futures, market volatility responses from lithium battery companies, and the potential of global lithium resources [7][8]. - Notable participants include leading battery companies like CATL and BYD, as well as material suppliers covering the entire supply chain, including cathode materials, anode materials, electrolytes, and separators [6]. Group 4: Industry Trends and Strategic Insights - The lithium battery industry is expected to play a crucial role in energy transition and carbon neutrality goals as it enters a new planning phase [6]. - The summit aims to provide authoritative data releases, benchmark company rankings, and deep industry connections to facilitate high-quality development in the lithium battery sector [6].

行 行业周报 资金情绪回落，多品种价格回调 分析师： 张珂 SAC NO： S1150523120001 2026 年 2 月 4 日 钢铁 有色金属 证券分析师 张珂 022-23839062 zhangke@bhzq.com 研究助理 重点品种推荐 洛阳钼业 增持 中金黄金 增持 华友钴业 增持 紫金矿业 增持 中国铝业 增持 近三月行业指数走势图 投资要点： 行业情况及产品价格走势初判 钢铁：后续随着春节前需求季节性走弱，钢材库存或进一步累积，需关注宏观 情绪对钢价影响。 铜：临近春节假期下游需求将减弱，资金情绪回落，短期铜价或调整后震荡运 行。 铝：资金情绪回落，春节前需求预计将走弱，短期铝价或迎来调整后震荡运 行。 黄金：我们认为金价回调后，后续地缘政治风险以及美国国内政治不确定性 （如政府停摆风险）仍有望为金价提供底部支撑，需警惕风险事件缓和对金 价的压力。另外，我们认为美国总统特朗普提名的新美联储主席未来偏鸽派 的可能性更大，后续美联储政策或超出市场预期，有望支撑金价。 锂：抢出口需求叠加供应偏紧预期，容量电价政策也有望改善需求预期，锂价 调整过后有望获得支撑。 稀土：春节前需求或走弱，但现货供 ...

来源：新浪基金∞工作室 2月4日，有色ETF华宝（159876）开盘涨2.15%，报1.188元。有色ETF华宝（159876）重仓股方面，紫 金矿业开盘涨1.78%，洛阳钼业涨3.98%，北方稀土涨0.35%，华友钴业涨1.70%，中国铝业涨1.75%，赣 锋锂业跌0.29%，山东黄金涨0.39%，云铝股份涨1.17%，中金黄金涨0.18%，江西铜业涨3.00%。 有色ETF华宝（159876）业绩比较基准为中证有色金属指数收益率，管理人为华宝基金管理有限公司， 基金经理为陈建华，成立（2021-03-12）以来回报为132.74%，近一个月回报为16.91%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 ...