Zhitong Hong Kong stocks have known for a long time | Copper prices hit a new high and broke through $12,000, and the sixth batch of national high-value consumables collection starts

[Today's headlines]

Copper prices hit a new high and broke through $12,000 tariff policy stirred up the market pattern

The bullish market for precious metals continued, with gold, silver, copper and platinum reaching new highs. Copper prices hit a record high of $12,000 per ton. Due to severe mine shutdowns and trade disruptions caused by US President Trump's tariff policy, this key industrial metal is expected to record its biggest annual increase since 2009. Copper futures on the London Metal Exchange once surpassed 12,000 US dollars per ton, reaching 1,044 US dollars, continuing the cumulative increase of about 37% since this year. The possibility of Trump imposing tariffs on copper has always been a central factor driving up prices. US imports have surged throughout the year, forcing manufacturers in other regions to launch bidding wars to maintain supply.

There have also been serious disruptions on the supply side. Due to severe mine shutdowns and trade mismatches linked to Trump's tariff agenda, this key industrial metal is on its way to its biggest annual gain since 2009. Mines in America, Africa, and Asia have stopped production, triggering market warnings: the copper market may be at a critical point where there is a major gap, which will further “add fuel” to the gains. Deutsche Bank warned that the world's largest miner's production will drop 3% this year and may continue to decline in 2026.

[General outlook]

The bullish market for precious metals continues, with gold, silver, copper and platinum reaching new highs

Overnight, the US stock Dow Jones Industrial Average rose 79.73 points, or 0.16%, to close at 48442.41 points; the S&P 500 stock index rose 31.3 points to close at 6909.79 points, or 0.46%; and the Nasdaq Composite Index rose 133.01 points, to close at 23561.84 points, or 0.57%. Most of the big tech stocks rose, Nvidia rose more than 3%, Novo Nordisk rose more than 7%, and the US FDA approved Novo Nordisk's first oral GLP-1 diet drug.

Most popular Chinese securities fell. My Little Pony Zhixing fell 3%, NIO fell more than 2%, and the Hang Seng Index ADR rose. On a proportional basis, it closed at 25823.63 points, up 49.49 or 0.19% from the Hong Kong closing market.

The bullish market for precious metals continued, with gold, silver, copper and platinum reaching new highs. COMEX gold futures rose by $45.60 in the same month, or 1.02%, to $4515.0 per ounce. COMEX silver futures rose $3.045 for the month in a row, or 4.44%, to $71.61 per ounce.

[Hot Topics Preview]

The sixth batch of national high-value consumables collection starts introducing multiple mechanisms to prevent malicious low prices

A new batch of high-value medical consumables collected by national organizations was officially launched. The tender will be opened on January 13, 2026 to collect drug-coated balloons and urological interventional medical consumables. This is also the sixth batch of high-value medical consumables collected by the country. Unlike the previous five rounds of centralized procurement of high-value medical consumables, this round of procurement has two new highlights: first, it introduced the concept of anchor prices, and the other is the introduction of a multi-cycle mechanism. The reporter analyzed that anchor prices are actually aimed at finding a balance between reducing prices and preventing malicious price pressure. There are two benefits to doing this. First, prevent vicious competition or suicidal offers that kind of push the threshold too low. Second, this mechanism can also break the possibility of group bidding between companies.

Xinyi Energy (03868) plans to acquire all shares in Jinzhai Xinyi Wind Energy for 62 million yuan

Zhitong Finance App News, Xinyi Glass (00868), Xinyi Energy (03868), and Xinyi Solar (00968) jointly announced that on December 23, 2025, Xinyi Glass (Wuhu), a wholly-owned subsidiary of Xinyi Glass (Wuhu), signed an equity transfer agreement with Anhui Xinyi Power. Anhui Xinyi Power, a wholly-owned subsidiary of Xinyi Energy (08328), plans to sell all shares in Jinzhai Xinyi Wind Energy (Fanchang), a wholly-owned subsidiary of Xinyi Energy, at a total cost of RMB 62 million (subject to adjustment).

International (01355) plans to acquire 100% of Aono Hong Kong's issued share capital

According to Zhitong Finance App, Jiayi Global (01355) announced that on December 23, 2025, Jiayi Global, a direct wholly-owned subsidiary of the Company, entered into a sales agreement with the seller, Ms. Zheng Tong. The seller conditionally agreed to sell and the buyer conditionally agreed to purchase sales shares (accounting for 100% of the issued share capital of the target company Onuo Hong Kong) and sales loans, with a total price of HK$22 million. After completion, the target company will become an indirect wholly-owned subsidiary of the Company, and the Company will hold 37.5% of Piesheng Biotech's equity interest. The financial performance, assets and liabilities of the Peisheng Biotech Group will be included in the Group's financial statements using equity method accounting treatment.

Weitai Medical-B (02235) LinX continuous glucose monitoring system approved for marketing in Brazil

Zhitong Finance App News, Weitai Medical-B (02235) announced that the Group's LinX continuous glucose monitoring system was recently approved for marketing in Brazil and is suitable for continuous dynamic blood sugar monitoring in adults and children.

Hainan Airport: The preconditions for the company's acquisition of a controlling interest in Meilan Airport (00357) have all been met, and the company is proceeding with the matters involved in this transaction according to the plan

Hainan Airport announced that the cumulative deviation value of the daily closing price increase of the company's stock trading reached 20% within 3 consecutive trading days, which is an abnormal fluctuation in stock trading. After the company's own inspection and written inquiries to the controlling shareholders and indirect controlling shareholders, there were no important matters relating to the company that should have been disclosed but not disclosed. On December 11, 2025, the company disclosed the “Progress Notice on Completing Overseas Direct Investment Procedures and Meeting All Conditions for the Entry into Force of Related Transactions”. The prerequisites for the Company's acquisition of a controlling interest in Meilan Airport have all been met, and the company is proceeding with the matters involved in this transaction according to the plan.

SMIC implemented a price increase of about 10% for some production capacity

The reporter learned from various sources that SMIC has already implemented price increases for some production capacity, an increase of about 10%. Some companies reported that it is expected that the price increase will be implemented soon. However, since the previous price of storage products was too low, fabs have already taken the lead in implementing price increases on them.

Yuanda Pharmaceutical (00512): Introduces the world's first adrenaline nasal spray to treat severe allergic reactions

On December 23, Yuanda Pharmaceutical announced that it had reached a product cooperation agreement with Yuer Pharmaceutical. Yuanda Pharmaceutical will receive exclusive commercial rights within the cooperative channel in mainland China of Neffy®, the world's first adrenaline nasal spray for emergency treatment of type I allergic reactions, as well as non-exclusive commercial rights in Hong Kong, China. This cooperation covers 2 mg and 1 mg specifications, which are suitable for adults, children over 30 kg, and children between 15 and 30 kg, respectively. In December 2024, Uminsu® submitted a marketing application to the State Drug Administration and was accepted.

Zhongneng Holdings (00228) plans to receive a premium of about 9.03% and make a full purchase offer to resume trading on December 24

Zhitong Finance App News, China Energy Holdings (00228) and the offender Jia Ying Co., Ltd. jointly announced that at 4:00 p.m. on December 16, 2025 (Tuesday), the stock offering was oversubscribed by about 0.78%. Immediately after the completion of the share offering (subject to the final allocation), the offeror and those acting in concert will have a total equity interest of about 241.6 million shares, which is equivalent to about 52.97% of the total issued share capital of the company after the issuance of approximately 152 million shares to be expanded. Accordingly, the offeror is required to make a mandatory unconditional cash offer in accordance with sections 26.1 and 13 of the Takeovers Code, other than those already owned or to be acquired by the offeror and the person acting in concert with him. HK$1.57 in cash for each offered share is approximately 9.03% of the share's closing price of HK$1.44 per share as reported on the Stock Exchange on the last trading day.

AEON CREDIT (00900) reported profit of HK$353 million increased 28.11% year-on-year during the three-quarter results period

According to the Zhitong Finance App, AEON CREDIT (00900) announced the results for the nine months ended November 30, 2025. The group achieved revenue of HK$1,358 million during the period, up 4.1% year on year; profit for the period was HK$353 million, up 28.11% year on year; basic profit per share was HK$84.22 cents.

[Individual stock prices are clear]

Dongfang Electric (01072): Benefiting from the surge in demand for gas turbines in the AI era

As demand for AIDC in the US grows rapidly, driving up demand for self-built power supplies, gas turbines have become the short-term preferred power supply solution for data centers with advantages such as short construction cycles and stable power supply. When overseas tech giants such as Google and Amazon build new data centers, they have already used gas turbines as a core backup power source or even one of the main power sources.

Huaxin Securities released a research report stating that Chinese gas turbine manufacturers are expected to enter a strategic window for overseas markets. Dongfang Electric has successfully achieved overseas breakthroughs with its self-developed F-class heavy gas turbine G50, and has already obtained an order for core equipment for the 50 MW combined cycle power generation project in Jambur Prefecture, Kazakhstan, marking the first time that a domestic heavy gas turbine has been exported as a complete engine.

Citigroup said that Dongfang Electric is discussing potential sales of gas turbine generator sets with US data center customers. There is currently no specific timeline or other details for the new order. The bank believes that the US data center has strong demand for gas turbine generator sets, and the price is also very attractive, so the company is improving product reliability and striving to face potential compliance risks and other challenges.