Daily Investment Strategy

Daily focus：Zijin Mining (2899)

Zijin Mining released its financial report for the first quarter of 2025, showing significant growth in various aspects. As of March 31, 2025, the company's operating income reached RMB 78.928 billion, an increase of 5.55% compared to the same period last year. Driven by the improvement in gross profit margin and the annual growth in investment income, the net profit attributable to shareholders of the listed company was RMB 10.167 billion, a year-on-year increase of 62.39%. In terms of product output, Zijin Mining's gold, copper, and silver production increased by 13%, 9%, and 2%, respectively. However, tin production decreased by 10%.

University of Michigan Consumer Sentiment Index Drops Significantly

The University of Michigan's U.S. Consumer Sentiment Index fell to 50.8 in April, marking a new low since June 2022. This decline is primarily due to heightened concerns over the trade war, especially with inflation expectations rising sharply. The expected inflation rate for this year is 6.7%, and the five-year expected inflation rate is 4.4%. Meanwhile, China has increased tariffs on U.S. imports to 125%, further escalating trade tensions. These developments pose significant challenges to the U.S. economic outlook, potentially exacerbating inflationary pressures and economic uncertainty. The decline in consumer confidence and the rise in inflation expectations will have important implications for the Federal Reserve's monetary policy decisions. Overall, the escalation of the trade war has had a negative impact on global economic stability.

Hong Kong Stock Connect saw a net outflow of HKD 11.7 billion on Friday. Alibaba (9988) recorded the highest net inflow of HKD 2.58 billion, followed by Tencent (700). On the other hand, SMIC (981) recorded the highest net outflow of HKD 388 million, followed by Kuaishou (1024).