Hunan Gold, Western Gold, and other stocks hit the daily limit in bulk, China Minsheng Metal ETF closed up 6.43%, and the first-quarter report continues the high prosperity.

Question about AI · How does high growth in the first-quarter report drive batch daily-limit rallies in non-ferrous metal stocks?

As of the close on April 8, 2026, the CSI Sub-industry Theme Index for Non-Ferrous Metals industry (000811) rose strongly by 6.10%. Component stocks including Hunan Gold, Bowei Alloy, Western Gold, Xingye Silver Tin, and others hit the daily limit in batches. Individual stocks such as Silver Non-Ferrous Metals and Luoyang Molybdenum also followed the move. The China Asset Management Non-Ferrous Metals ETF (516650) rose by 6.43%, with the latest price at 2.07 yuan.

On the news front, on the evening of April 7, as HIGUANG Information and Wohua Medicine released their first-quarter reports, A-share companies’ 2026 first-quarter earnings disclosure officially kicked off. By 7:00 PM on April 7, 48 listed companies in the A-share market had already released their Q1 2026 performance forecasts. Among them, 24 companies expected year-on-year increases of more than 100% in net profit attributable to shareholders, and there were even 4 companies with year-on-year increases exceeding 20 times. It is worth noting that the companies seeing earnings explosions are mainly concentrated in industries such as semiconductors, non-ferrous metals, and basic chemicals, continuing the high level of sector prosperity seen since 2025.

In precious metals, the allocation logic keeps strengthening. In February, the People’s Bank of China continued to add to gold holdings to enhance market confidence. Under upward pressure from oil prices, the U.S. Federal Reserve may be forced to cut rates more than expected, which would constitute an irreversible blow to the credibility of the petrodollar. Looking long term, geopolitical conflicts could push the oil price center upward, with both inflation and stagflation expectations heating up in parallel. Coupled with Woshe’s balance-sheet reduction, which brings risks that are difficult to hedge against long-end U.S. Treasury bonds, the long-term allocation value of gold as the ultimate safe-haven asset has become even more prominent. At present, gold and silver are experiencing wide-range consolidation due to short-term macro sentiment disruptions, but the bottom support is solid, and they are not afraid of volatility.

The China Asset Management Non-Ferrous Metals ETF (516650) tightly tracks the CSI Sub-industry Theme Index for Non-Ferrous Metals industry, focusing on industrial metals such as gold and copper and aluminum, as well as minor metals such as rare earths and tungsten-molybdenum. As of March 31, 2026, the index’s top ten weight stocks are Zijin Mining, Luoyang Molybdenum, Northern Rare Earth, China Aluminum, Huayou Cobalt, Ganfeng Lithium, China Gold, Shandong Gold, Chifeng Gold, and Yunnan Aluminum, with the combined share of the top ten weight stocks at 50.78%.

China Asset Management Non-Ferrous Metals ETF 516650, off-exchange connecting fund A: 016707; connecting fund C: 016708; connecting fund D: 021534.