Daily Investment Strategy
Daily focus：Zijin Mining (2899)
The company is actively expanding its production capacity, strengthening its gold, copper, and lithium resource portfolio through technological upgrades and overseas mergers and acquisitions, aiming to drive production and profit growth in the coming years. Management has clearly defined long-term gold production capacity targets and is continuously optimizing cost controls. The company is poised to benefit from global demand and the commissioning of new projects. While caution is warranted regarding metal price fluctuations and capital expenditure pressures, the company is expected to maintain its industry-leading position if successful capacity expansion is successfully implemented.
China's GDP remained in line with targets for the first three quarters
In September, total retail sales of consumer goods grew by 3.0% year-on-year, down 0.4 percentage points from August, the lowest in nearly ten months. The cumulative growth from January to September was 4.5%. During the same period, national fixed asset investment fell by 0.5% year-on-year, the first negative growth since August 2020, with negative growth in real estate investment dragging down the overall decline. Industrial value added above designated size significantly exceeded expectations. In September, it grew by 6.5% year-on-year, accelerating by 1.3 percentage points from August and reaching a three-month high. The cumulative growth rate from January to September was 6.2%, indicating continued acceleration in manufacturing momentum. Overall, industrial production showed strong resilience, consumption growth slowed, and investment faced pressure, resulting in a clear divergence among the three sectors. While GDP slowed to 4.8% in the third quarter, it still reached 5.2% in the first three quarters, exceeding the government's target.
Hong Kong Stock Connect recorded a net outflow of HK$2.67 billion on Monday, with Southern Hang Seng Technology (3033) receiving the largest net inflow of HK$375 million, followed by CNOOC (883). On the other hand, Alibaba (9988) recorded the largest net outflow of 1.75 billion, followed by Xiaomi Group (1810).
Leung Kai Tong is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to https://apps.sfc.hk/publicregWeb/indi/ADU276/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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