The optical communication and precious metals sectors continue to soar. New highs for Xinyisheng On December 22, Xinyisheng reached a new intraday high of 466.66 yuan per share, marking a staggering 902.18% surge from its low of 46.56 yuan on April 9 (adjusted for dividends).
The optical communication sector rallied broadly, with stocks like Tefa Information, Hengtong Optic-Electric, and Changfei Fiber hitting limit-up, while Zhongji Innolight, Zhongtian Technology, and Yongding Co. rose over 6%.
According to statistics, six stocks—Shangwei New Materials, Tianpu Co., Feilinger, *ST Yusheng, Shutaishen, and *ST Yazhen—have seen their highest prices surge more than 10 times their lowest prices this year. Shangwei New Materials led with a 2,166.25% increase, driven by the humanoid robotics trend, while Xinyisheng and *ST Yusheng benefited from data center and cloud computing themes.
Global precious metals rally Major precious metals surged globally, with spot London gold rising 1.7% to a record 4,420.47 USD/oz, up 68.13% year-to-date. Spot silver hit 69.45 USD/oz, up 3.58%, while platinum and palladium gained 4.19% and 3.75%, respectively.
Domestic futures followed suit, with palladium and platinum contracts hitting limit-up. Shanghai silver futures rose 6.06%, up 116.16% YTD, and gold futures surpassed 1,000 yuan/gram, up 62.3% YTD.
A-shares and HK-listed precious metals stocks also surged, with the sector index up 3.79% and net inflows of 1.985 billion yuan. Silver stocks like Baiyin Nonferrous surged, while Xiaocheng Tech and Hunan Silver rose over 7%.
CITIC Securities noted that softer U.S. CPI data fueled expectations of Fed rate cuts, boosting precious and industrial metals.
Soaring investment demand Amid geopolitical risks, gold and other precious metals have become safe-haven assets, driving demand. The World Gold Council reported Q3 global gold demand hit a record 1,313 tons (USD 146 billion), with investment demand surging 47% YoY.
Central banks added 53 tons in October, the highest monthly purchase this year. China’s central bank increased gold reserves for the 13th straight month.
Platinum demand is also rising, with China leading bar and coin demand, expected to grow 47% in 2025.
Domestically, platinum and palladium futures launched on November 27 saw sharp gains, with platinum up 28.13% and palladium up 31.96% in a week.
Valuation check Among 18 A-share precious metals stocks, the average YTD gain is 97.03%, with nine stocks—including Zhaojin Mining and Shengda Resources—up over 100%.
Zhaojin Mining rose 247.61% YTD, citing output growth from mine upgrades. After the rally, sector valuations remain high, with a median P/E of 33.12x. Only four stocks—Zijin Mining, Chifeng Gold, Sino-Platinum Metals, and Shandong Gold International—trade below 25x P/E.
Zijin Mining, the cheapest at 18.99x P/E, reported strong Q3 earnings (37.86 billion yuan net profit, up 55.45% YoY) and expanded resources in gold, copper, lithium, and molybdenum.
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