Nonferrous Metals

BlackRock Increases Stake in Luoyang Vanadium-Tungsten Molybdenum Group H Shares to 9.21%

Citi Maintains 'Buy' Rating on China Hongqiao with HK$48 Target as Major Shareholder Repurchases Shares

Ganfeng Lithium's Energy Storage Cells at Full Capacity, New 588Ah/648Ah Lines Accelerate

Lingbao Gold spends approx. 1.4956 million HKD to repurchase 108,100 shares

Citi Maintains 'Buy' Rating on Zijin with HK$51.8 Target, Reaffirms 2026 Output Guidance

Lingbao Gold Raises H-Share Buyback Cap to 30 Million Shares

Lingbao Gold spends HKD 997,700 to repurchase 67,300 shares

BlackRock Acquired 2.186 Million Shares of Zijin Mining on May 29, Holding Stake Reaches 8%

S&P Upgrades China Aluminum Rating Outlook to Positive, Confirms BBB

Tianqi Lithium and Ganfeng Lithium Stocks Drop 3-4%, JPMorgan Maintains Neutral Rating

Ganfeng Lithium Indirectly Establishes Shenzhen Xingqing Zhitai Tech, 100M RMB Capital for Robotics

Citi Raises Zhaojin Mining Target Price to HKD 41.40

Zhaojin Mining Holds AGM, Approves Final Dividend and Share Buyback Authorization

Fitch upgrades China Hongqiao's outlook to positive, confirms long-term rating at BB+

JPMorgan Increases Stake in Luoyang Molybdenum H-Share to 7.05%

China Gold International Suspends CSH Open-Pit Mining Due to Slope Instability

Mineral Resources Co and Ganfeng Lithium approve $352M project to develop Marion Hill lithium mine

Bank of China and Shandong Gold Sign Cooperation Agreement to Promote Transformation

Shenzhen Shuzhi Green Energy Technology Co., Ltd. Established Under Ganfeng Lithium

SOFTMEDX

HIPINE

SYNERTONE

BIOSTAR PHARM-B

WING FUNG GROUP

PAN ASIA DATA H

MEDINET GROUP

G-VISION INT'L

XI2CSOPMSTR-U

00914

600808

601088

00323

CSUAY

601899

600585

02899

01088

Goldman Sachs updated earnings forecasts for China's basic materials and agriculture sectors, adjusting commodity price predictions. It lowered estimates for steel, cement, gold, and paper, while raising those for copper and coal. The bank remains constructive on coal and copper but cautious on aluminum and lithium. Specific target prices and ratings were adjusted for various companies including Maanshan Iron & Steel, Conch Cement, China Shenhua, and Zijin Mining.

AASTOCKS News

CONCH CEMENT

MAS C.L.

CSEC/China Shenhua

MAANSHAN IRON

China Shenhua Energy

Zijin Mining

ZIJIN MINING

CHINA SHENHUA

ANGANG STEEL

ANSTEEL

BBMG

CNBM

WESTCHINACEMENT

CR BLDG MAT TEC

CHINA COAL

China Coal Energy

YANKUANG ENERGY

ZHAOJIN MINING

JIANGXI COPPER

JCCL

CMOC

CHALCO

CHINAHONGQIAO

CHINA NATIONAL BUILDING MATERIAL CO UNSP ADR EACH REPR 50 ORD

G Sachs Adjusts Earnings Forecasts for China Commodities and Basic Materials Stocks, Raises TP for Coal Stocks

600019

Goldman Sachs updated ratings and target prices for various resource stocks. In steel, it maintained 'Sell' on Angang and Ansteel, and 'Neutral' on Baosteel and Maanshan. For coal, China Coal was upgraded to 'Buy', while Yankuang was downgraded to 'Sell'. Cement stocks like Conch remained 'Buy'. Basic metals saw mostly 'Buy' or 'Neutral' ratings for Zijin Mining and Jiangxi Copper. Paper stocks ND Paper and Sun Paper were rated 'Sell'.

Baosteel

SUN PAPER

ND PAPER

G Sachs' Latest Ratings and TPs on Resource Stocks (Table)

03330

Lingbao Gold Group has significantly expanded its H-share repurchase plan, increasing the maximum number of shares to be bought back from approximately 6.91 million to 30 million. This adjustment represents about 2.17% of total issued share capital and 2.50% of H shares. The board stated that the enlarged buyback reflects confidence in the company's long-term value and aims to strengthen investor confidence, with execution dependent on market conditions.

Tip Ranks

LINGBAO GOLD

LINGBAOGOLD-1K

Lingbao Gold Sharply Increases H-Share Buyback Capacity

03986

03808

00763

01347

02338

03750

03993

06613

01299

06656

GIGADEVICE(03986) rose 6.87%, with a trading turnover 2.6 Billion HKD, and a year-to-date rose 387.8%. SINOTRUK(03808) rose 5.27%, with a trading turnover 816.8 Million HKD, and a year-to-date rose 59%. CATL(03750) fell 7.01%, with a trading turnover 3.7 Billion HKD, and a year-to-date rose 45.4%. CMOC(03993) fell 6.91%, with a trading turnover 697.5 Million HKD, and a year-to-date fell 2.3%.

Top Gainers&Losers

GIGADEVICE

SINOTRUK

HUA HONG GRACE

WEICHAI POWER

CATL

Lens

SIGENERGY

Top 5 HK Stock Gainers/Losers (>100B) (6.4)

02685

03690

00HSI

01378

MPNGY

300750

At midday, the Hang Seng Index (HSI) fell 357 points (1.4%) to 25,276, while the HSTI dropped 72 points (1.4%) to 4,984 and HSCEI declined 90 points (1.0%) to 8,506. Major tech stocks including Alibaba, Meituan, and Tencent saw declines of over 2%. CMOC led constituents on move with a drop of nearly 6%, while CATL and China Hongqiao also fell significantly. Conversely, Quantgroup surged over 16%.

- At midday, the Hang Seng Index (HSI) fell by 357 points or 1.4% to 25,276, while the Hang Seng Tech Index (HSTI) decreased by 72 points or 1.4% to 4,984.  
- Major declines were observed in companies like BABA, MEITUAN, and TENCENT, with short selling ratios reaching high levels.  
- Notably, QUANTGROUP saw a significant increase of 16.2%, contrasting with several stocks that experienced substantial losses, indicative of market volatility.

QUANTGROUP

MEITUAN

Hang Seng Index

Hang Seng TECH Index

Meituan

Hang Seng China Enterprises Index

BABA-W

Alibaba

TENCENT

Tencent

XIAOMI-W

Xiaomi Corporation

AIA Group

LENOVO GROUP

Lenovo Group

LI AUTO-W

Li Auto

ALI HEALTH

GOFINTECH QUANT

LUYE PHARMA

RADIANCE HLDGS

CGN MINING

GUOXIA TECH

BABA-WR

Alibaba HK SDR 5to1

MEITUAN-WR

Meituan HK SDR 5to1

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

XIAOMI-WR

Xiaomi HK SDR 2to1

CATL HK SDR 30to1

AIA-R

LENOVO GROUP-R

HSI Down 357 pts; HSTI Down 72 pts; CMOC Down over 5%

09696

002460

002466

01772

Tianqi Lithium and Ganfeng Lithium shares dropped approximately 3-4% amid negative sentiment in the lithium sector. JP Morgan cited a lack of consensus on supply and demand, noting that recent positive catalysts have played out while risks tilt unfavorable. Consequently, JPM maintained a Neutral rating on both stocks, predicting near-term reversal unlikely.

TIANQI LITHIUM

Ganfeng Lithium

GANFENGLITHIUM

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

TIANQI LITHIUM, GANFENGLITHIUM Sag ~3-4%; JPM: Recent News Adds Pressure to Lithium Sector

LNVGY

09992

00992

The Hang Seng Index opened down 167 points, driven by US-Iran standoff tensions and US inflation concerns which also dragged down US markets. Major tech stocks like Tencent, Meituan, and Alibaba declined slightly. Lenovo Group slumped 5%, while BYD and Zijin Mining also fell. Conversely, CATL rose ~2% and Pop Mart gained nearly 1% amid increased holdings.

- US-Iran negotiations remain stalled, raising concerns about US inflation risks and leading to a significant decline in stock markets.  
- The DJIA fell 620 points to close at 50,687, with notable drops in the S&P 500 and Nasdaq, while Asian markets also experienced losses at opening.  
- Major tech stocks like TENCENT and MEITUAN-W were pressured by short selling, though CATL and POP MART showed some gains despite the overall downturn.

POP MART

Dow Jones Industrial Average

S&P 500

NASDAQ Composite Index

BYD COMPANY

BYD HK SDR 10to1

BYD Company

BYD Company Limited

BYD COMPANY-R

POP MART HK SDR 20to1

HSI Opens Down 167 pts; LENOVO GROUP Slumps 5%; CATL Up ~2% Against Mkt

01333

Breton Technology (HK:1333) scheduled its 2025 AGM for June 25, 2026. Key agenda items include approving the profit distribution plan, appointing new directors Chen Guomin and Tim Sun, adjusting the 2026 borrowing limit, authorizing a medium-term loan facility, and granting mandates to issue shares and repurchase H-shares.

BRETON

Breton Technology Sets 2025 AGM to Vote on Profit Plan, Board Changes and Financing Mandates

S&P Global upgraded CHINAHONGQIAO's long-term issuer credit rating to 'BB+' from 'BB', with a stable outlook. The upgrade reflects expectations of strengthened earnings driven by stable output and rising aluminum prices. S&P forecasts improved profitability, with EBITDA margins rising to 30-31% over the next two years and annual EBITDA increasing by 18-26%. The company's debt-to-EBITDA ratio is projected to remain below 1.5x.

S&P Global

S&P Global Upgrades CHINAHONGQIAO  Issuer Rating to "BB+"; Outlook Stable

Nonferrous Metals(CP20070.HK)