Baiyin Nonferrous Group Co Ltd

Baiyin Nonferrous disclosed its earnings forecast, expecting a net profit attributable to the parent company of 64 million to 95 million yuan for the first half of 2026, compared with a loss of 217 million yuan in the same period last year, achieving a year-on-year turnaround. The company said the improvement was mainly due to higher market prices for nonferrous and precious metal products year on year, as well as strengthened internal management, improved quality and efficiency, and cost control that lifted gross margins year on year. In addition, a year-on-year increase in fair value gains on embedded derivative financial instruments from point-price trading caused by market price fluctuations also had a positive impact on performance. Baiyin Nonferrous covers the entire industry chain of mining, smelting, processing and trading of various nonferrous and precious metals including copper, zinc, lead, gold and silver.

In early trading on July 6, the three major A-share indices opened collectively higher, with the Shanghai Composite Index up 0.30%, the Shenzhen Component Index up 0.65%, and the ChiNext Index up 0.57%. Precious metals concept stocks rose rapidly, with Hunan Silver, Shanjin International, and Chifeng Gold among the top gainers. Nonferrous metals concept stocks were active, with Baiyin Nonferrous, Huanghe Whirlwind, and Yongshan Lithium hitting limit up. The innovative drug sector was also active, with Sanyuan Gene and Hotgen Biotech surging over 10%, after the National Medical Products Administration sought public comment on optimizing the review and approval of cell and gene therapy drugs, proposing to include eligible drugs in a 30-day review channel. JPMorgan expects gold to remain range-bound in the short term before rebounding, with an average price of 4,300 US dollars per ounce in the third quarter of 2026 and 4,500 US dollars per ounce in the fourth quarter, maintaining a long-term bullish view.