SMM Weekly Price Outlook for Base Metals on LME and SHFE (Jul. 24-28, 2017)

Zhejiang Hailiang disclosed its annual report. In 2025, the company achieved revenue of 83.205 billion yuan, down 4.79% YoY; net profit attributable to the parent was 943 million yuan, up 34.1% YoY. Basic EPS was 0.47 yuan. The company proposed a cash dividend of 1.28 yuan per 10 shares (tax inclusive). During the reporting period, the company continued to optimize its product mix, achieving steady improvement in core business profitability. In 2025, the company sold 998,000 mt of copper, copper alloy, and other non-ferrous metal processed products (of which copper foil sales were 67,600 mt, up 83.68%; copper busbar sales were 46,400 mt, up 19.89%)

On April 27, State Grid Zhejiang Electric Power disclosed that in Q1 2026, the province's computing center electricity consumption reached 1.529 billion kWh, surging 26.43% YoY, with both volume and growth rate setting new records. Large and ultra-large projects were the core growth drivers. Hangzhou and Jiaxing led regional demand, with local computing capacity continuing to expand. The share of intelligent computing remained extremely high, power load stayed stable, and energy efficiency levels improved steadily, as computing-power coordination continued to advance.