Price Increases in Petroleum-Based Raw Materials Are Being Passed Through, Affecting Demand for Enamelled Wire

North Copper (000737) disclosed its annual report on April 24. In 2025, the company achieved revenue of 27.916 billion yuan, up 15.80% YoY; net profit attributable to the parent company was 791 million yuan, up 29.01% YoY; basic earnings per share were 0.415 yuan. The company proposed a cash dividend of 1.4 yuan per 10 shares (tax inclusive). During the reporting period, the company's main mines maintained stable production, but copper concentrates supply was tight in the market, and copper smelting TC remained subdued.

Pengxin Resources (600490) disclosed its annual report on April 24. In 2025, the company achieved revenue of 3.411 billion yuan, up 81.94% YoY; net profit attributable to the parent company was 225 million yuan, compared with a loss of 96.7716 million yuan in the prior year; basic earnings per share were 0.1019 yuan. The company proposed a cash dividend of 0.31 yuan per 10 shares (tax inclusive). During the reporting period, the company achieved continuous breakthroughs in its South Africa gold mine project, maintained stable production and improved efficiency at its DRC project, advanced new trade business models, and accelerated industrial expansion in and outside China, increasing mineral resource reserves and enhancing the company's overall competitiveness.

U.S. Treasury Secretary Bessent stated in an exclusive interview on Friday, outlining his policy blueprint for artificial intelligence, energy, taxation, and financial regulation, and indicated that he did not rule out the possibility of serving as Fed Chairman in the future.Bessent said he did not rule out the possibility of serving as Fed Chairman in the future, but explicitly refused to run for any public office. He explained that the Fed Chairman does not need to participate in elections, can shape the direction of the economy, and that the US Fed itself is an important institution.