Movement Alert|Global Gold Group Rises 5.4% in Regular Trading, Sustained Large-Scale Buybacks Boost Market Confidence

Market Focus07-02

On July 2, Global Gold Group rose 5.4% in regular trading, trading at HKD 8.18 per share, with turnover of approximately HKD 58.54 million.

On the news front, the company has been conducting consecutive large-scale share repurchases in recent sessions. On June 29 and June 30, the company spent approximately HKD 31.93 million and HKD 30.20 million to repurchase 4.0665 million and 3.958 million shares respectively, at price ranges of HKD 7.76–7.97 and HKD 7.49–7.82 per share. The two-day buyback total exceeded HKD 62 million. Previously in May, the company executed multiple repurchases totaling over HKD 160 million, including a single-day buyback of HKD 67.97 million on May 28.

On the fundamental side, the company reported full-year net profit of RMB 1.497 billion for the previous fiscal year, up 116.57% year-over-year, driven by rising gold prices and expanded production. UBS maintained a Buy rating with a target price of HKD 17.3, reflecting continued confidence in the companys growth trajectory despite a minor downward revision from HKD 17.8 to account for updated cost guidance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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