On July 10, Zijin Gold International rose 3.21% in regular trading, trading at 102.2 HKD/share, with turnover of HKD 331 million. The rally was driven by the company's earnings pre-announcement released after market close on July 9.
According to the disclosure, Zijin Gold International expects to achieve net profit attributable to shareholders of approximately USD 1.4 billion for the first half of the year, representing an increase of approximately USD 880 million from USD 520 million in the same period last year, a year-on-year surge of approximately 169%. The strong performance was primarily attributed to a significant increase in gold production to approximately 27 tonnes from 19 tonnes in the prior-year period, higher gold selling prices, and profit contributions from the Ghana Akyem gold mine and Kazakhstan Ridgold mine acquired in April and October of last year respectively.
The stock had retreated for three consecutive trading days prior to the announcement, declining from a high of 110.3 HKD. The robust earnings forecast appears to have restored market confidence. Within the Gold sector, Lingbao Gold rose 9.1%, Chifeng Gold rose 5.16%, SD Gold rose 4.31%, China Gold International rose 3.58%, and Zijin Mining rose 3.4%.
(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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