Group 1 - The core point of the article highlights that Zhongjin Lingnan's trading volume reached 2.337 billion yuan, marking a new high since September 6, 2021 [2] - The latest stock price increased by 7.98%, with a turnover rate of 6.90% [2] - The trading volume for the previous trading day was 1.855 billion yuan [2]

Group 1 - The core viewpoint of the articles highlights the strong performance and upward trends in the rare metals market, driven by increasing demand and supply constraints [1][2][3] Group 2 - As of January 23, 2026, the CSI Rare Metals Theme Index (930632) rose by 1.28%, with key stocks like Western Materials hitting the daily limit up and others like Chuaneng Power and Zhuhai Group also showing significant gains [1] - The top ten weighted stocks in the CSI Rare Metals Theme Index accounted for 59.54% of the index, with companies such as Luoyang Molybdenum, Northern Rare Earth, and Ganfeng Lithium leading the list [1] - The rare metals ETF fund (561800) saw a 1.41% increase, with a maximum intraday rise exceeding 2%, and recorded a turnover rate of 6.48% with total transactions of 14.6183 million yuan [1] - The price of battery-grade lithium carbonate increased by 4,000 yuan to 152,500 yuan per ton on January 20, 2026, reflecting a more than 28% rebound from the year's low, driven by surging storage demand and supply constraints [2] - New energy storage technologies are expanding rapidly, with lithium battery shipments in China reaching 430 GWh in the first three quarters of 2025, a year-on-year increase of 99.07% [2] - The supply-demand dynamics for rare metals are undergoing significant changes, with tungsten concentrate prices rising by 4.3% week-on-week to 507,000 yuan per ton, and prices for praseodymium-neodymium oxide and dysprosium oxide also increasing [3] - The CS Rare Metals Index, tracked by the rare metals ETF fund, is one of the highest in energy metal content, particularly lithium and cobalt, and is expected to benefit from ongoing market trends [3]

Core Viewpoint - The Shenzhen State-Owned Enterprises Shareholder Return Index (970064) closed at 1740.66 points, down 0.25%, with a trading volume of 37.125 billion yuan and a turnover rate of 1.46% [1] Group 1: Index Performance - On the day, 31 constituent stocks rose, with North New Building Materials leading with a 4.99% increase, while 17 stocks fell, with Shanjin International leading the decline at 2.07% [1] - The index's top ten constituent stocks include: - BOE Technology Group (sz000725) with a weight of 9.45%, closing at 4.40 yuan, down 1.35% [1] - Wuliangye Yibin (sz000858) with a weight of 9.34%, closing at 102.76 yuan, down 0.28% [1] - Hikvision (sz002415) with a weight of 7.48%, closing at 32.09 yuan, down 1.56% [1] - XCMG Machinery (sz000425) with a weight of 6.90%, closing at 10.86 yuan, down 1.54% [1] - Weichai Power (sz000338) with a weight of 6.24%, closing at 22.36 yuan, down 0.89% [1] Group 2: Capital Flow - The net outflow of main funds from the index's constituent stocks totaled 872 million yuan, while retail investors saw a net inflow of 1.149 billion yuan [1] - Detailed capital flow for selected stocks includes: - Yuexiu Capital (000987) with a main fund net inflow of 107 million yuan, but retail outflows of 54.4 million yuan [2] - Huazhong Steel (000932) with a main fund net inflow of 85.6 million yuan, but retail outflows of 33.9 million yuan [2] - Yun Aluminum (000807) with a main fund net inflow of 54.8 million yuan, but retail outflows of 68.3 million yuan [2]

Group 1 - The core point of the article is that Zhongjin Lingnan (000060) holds a 25% stake in Jinzhu Precision Engineering, classifying it as an associate company [1]

Group 1 - The company Zhongjin Lingnan holds a 25% stake in Shenzhen Jinzhu Precision Technology Co., Ltd., making it the second-largest shareholder [2] - Zhongjin Lingnan's stake in Jinzhu Precision is classified as an associate enterprise [2] - Investors are encouraged to refer to the company's information disclosure announcements for more details [2]

Core Viewpoint - Zinc industry stocks are experiencing significant gains, with Zinc Industry Co. achieving a second consecutive trading limit increase, and Luoping Zinc Electric rising over 7% [1] Group 1: Company Performance - Zinc Industry Co. has seen a second consecutive trading limit increase, indicating strong market performance [1] - Luoping Zinc Electric has increased by more than 7%, reflecting positive investor sentiment [1] - Other companies in the sector, including Zhuzhou Smelter Group, Jiangxi Copper, Zhongjin Lingnan, and Baiyin Nonferrous Metals, are also experiencing upward movement in their stock prices [1]

Core Viewpoint - The non-ferrous metal sector is experiencing a strong upward trend, with significant inflows into related ETFs, indicating robust investor interest and potential for continued growth [1][12]. Group 1: Market Performance - The popular non-ferrous ETF, Huabao (159876), saw an intraday increase of 2.2%, currently up 1.41%, reaching a new high since its listing [1][12]. - As of January 15, the latest scale of Huabao ETF reached 1.453 billion, marking a historical peak and ranking first among three ETFs tracking the China Nonferrous Metals Index [1][12]. - The ETF has attracted a net subscription of 50.4 million units, with a total net inflow of 473 million over the past ten days [1][12]. Group 2: Stock Performance - Leading stocks in the sector include Hunan Silver, which surged over 6%, along with Chihong Zn & Ge, Jiangxi Copper, and Jinchuan Group, all rising more than 5% [4][15]. - Other notable performers include Western Mining and Zhongjin Lingnan, both showing positive gains [4][15]. Group 3: Industry Outlook - Analysts predict that the non-ferrous metal sector will continue to thrive due to multiple factors, including global capital expenditure cycles, manufacturing recovery, and improved domestic macro expectations [5][16]. - The sector is expected to enter a bull market by 2026, driven by a confluence of monetary, demand, and supply factors [5][16]. - The demand for strategic metals is anticipated to rise significantly, influenced by new technologies and geopolitical factors, with a focus on metals used in military applications [3][16]. Group 4: Copper Market Insights - China Galaxy Securities suggests that copper prices have substantial upward potential, as historical analysis shows that current prices, adjusted for inflation, have not reached previous supercycle highs [3][14]. - The ongoing reshaping of the international monetary order and the low copper-to-gold ratio indicate a favorable environment for copper investments [3][14]. - The convergence of the AI technology revolution and global order restructuring is expected to create a new supercycle for copper [3][14].

Core Viewpoint - The silver sector in A-shares has attracted market attention due to rising risk aversion amid global economic uncertainties, with silver being favored for its financial attributes and industrial demand. Group 1: Company Highlights - Hunan Silver (002716.SZ): Latest stock price is 10.54 CNY with a daily increase of +6.25%. It is a significant base for silver production and export in China, having established a complete industrial chain from silver-rich lead concentrate to deep processing of silver products and "Internet+" applications [1]. - Zhuhai Group (600961.SH): Latest stock price is 19.50 CNY with a daily increase of +5.69%. It is a performance stock with silver as one of its main smelting products [2]. - Chihong Zn & Ge (600497.SS): Latest stock price is 9.03 CNY with a daily increase of +5.37%. This comprehensive mining company has a production capacity of over 1,000 tons per year for precious metals including silver [3]. - Zhongjin Lingnan (000060.SZ): Latest stock price is 6.86 CNY with a daily increase of +4.41%. The company’s main products include silver, with silver metal resource reserves of 5,722 tons [4]. - Jinhui Mining (603132.SH): Latest stock price is 16.26 CNY with a daily increase of +3.83%. The main business involves non-ferrous metal mining, primarily producing zinc and lead concentrates (including silver) [5]. - Huayu Mining (601020.SH): Latest stock price is 30.50 CNY with a daily increase of +2.31%. The company has abundant silver resources [6]. - Western Mining (601168.SH): Latest stock price is 30.74 CNY with a daily increase of +2.26%. The company engages in the production and sales of precious metals, including silver ingots [7]. - Hengbang Shares (002237.SZ): Latest stock price is 14.95 CNY with a daily increase of +2.26%. The company primarily focuses on gold and silver as its main products [8]. - Shanjin International (000975.SZ): Latest stock price is 28.55 CNY with a daily increase of +2.18%. It owns Yulong Mining, one of the largest single silver-containing mines in China [9]. - Chifeng Gold (600988.SH): Latest stock price is 32.94 CNY with a daily increase of +1.92%. The company’s main products include silver, with its subsidiary Hanfeng Mining producing lead and copper concentrates containing silver [10]. - Silver Yunnan (601212.SH): Latest stock price is 7.16 CNY with a daily increase of +1.56%. It is a comprehensive production base for various non-ferrous metals in China [11].

Core Viewpoint - The non-ferrous metal sector has seen significant interest today, particularly in tungsten-related stocks, which have become the focus of market attention. Group 1: Tungsten-Related Companies - Xianglu Tungsten Industry (002842.SZ) has a latest stock price of 19.14 CNY with a daily increase of +10.00%. It is one of the few companies in the domestic tungsten industry with a complete industrial chain, covering tungsten ore mining, smelting, and deep processing of all product lines [1]. - Zhongtung High-tech (000657.SZ) has a latest stock price of 36.73 CNY with a daily increase of +5.52%. It serves as the operational management platform for the tungsten industry under China Minmetals Corporation, encompassing the entire industrial chain from mining to smelting and alloys [1]. - Zhangyuan Tungsten Industry (002378.SZ) has a latest stock price of 18.19 CNY with a daily increase of +4.84%. It is also one of the domestic companies with complete tungsten industrial chain production capabilities, owning multiple mining rights and exploration areas [2]. - Zhongjin Lingnan (000060.SZ) has a latest stock price of 6.86 CNY with a daily increase of +4.41%. It is an integrated enterprise in the deep processing of non-ferrous metals [3]. - Zhongxiyou Color (600259.SH) has a latest stock price of 74.70 CNY with a daily increase of +4.04%. It is the core listed platform of China Rare Earth Group, with a rich resource of tungsten mines and a horizontal layout in "rare earth, copper, tungsten" industries [4]. - Jiangxi Copper (600362.SH) has a latest stock price of 62.00 CNY with a daily increase of +3.68%. Its Kazakhstan Bakuta tungsten mine project has successfully commenced production [5]. - Luoyang Molybdenum (603993.SH) has a latest stock price of 24.05 CNY with a daily increase of +3.22%. It is a global leader in the production of copper, cobalt, molybdenum, and tungsten, operating molybdenum and tungsten mines in China [6][7]. - Xiamen Tungsten Industry (600549.SH) has a latest stock price of 51.92 CNY with a daily increase of +2.85%. It possesses a complete tungsten industrial chain and has a competitive advantage in tungsten mining, smelting, and deep processing [9]. Group 2: Other Companies in the Sector - Greeenme (002340.SZ) has a latest stock price of 8.94 CNY with a daily increase of +2.88%. It is a leader in the recycling of critical metals [8].

Group 1 - The metal cobalt concept increased by 2.02%, ranking 10th among concept sectors, with 21 stocks rising, including ST HZ, Zhongwei New Materials, and Huayou Cobalt, which rose by 16.08%, 7.34%, and 7.06% respectively [1] - The metal cobalt sector saw a net inflow of 1.032 billion yuan, with 17 stocks receiving net inflows, and 7 stocks exceeding 100 million yuan in net inflows, led by Huayou Cobalt with a net inflow of 772 million yuan [2][3] - The top three stocks by net inflow ratio were Zhongjin Lingnan, China Nonferrous Metals, and Huayou Cobalt, with net inflow ratios of 9.48%, 9.13%, and 8.95% respectively [3][4] Group 2 - The top stocks in the metal cobalt sector included Huayou Cobalt, Ganfeng Lithium, and Greenme, with daily price changes of 7.06%, 4.26%, and 2.88% respectively, and significant trading volumes [3][4] - The stocks with the largest declines included Tianqi Co., China Power Construction, and Pengxin Resources, which fell by 1.83%, 1.29%, and 1.21% respectively [1][5] - The trading activity in the metal cobalt sector showed a healthy turnover rate, with notable participation from institutional investors [3][4]