Movement Alert|ZHAOJIN MINING Rises 3.37% in Regular Trading, Gold Sector Rallies Broadly with Mid-Term Results Providing Fundamental Support

Market Focus10:40

On August 28, ZHAOJIN MINING rose 3.37% in regular trading, trading at HKD 23.88/share, with turnover of HKD 155 million. The gold sector rallied broadly, with CHINAGOLDINTL up 4.49%, SD GOLD up 3.47%, ZIJIN GOLD INTL up 2.89%, and CHIFENG GOLD up 2.74%.

On the news front, the company disclosed on August 27 that it has received approval to register RMB 10 billion in super short-term financing notes with a two-year validity period, with the first tranche capped at RMB 1 billion over 240 days. Additionally, the company's mid-term results released on August 23 continue to underpin sentiment: H1 revenue reached RMB 9.022 billion, up 29.38% year-on-year; net profit was RMB 2.105 billion, up 18.50%; gross margin expanded from 43.74% to 48.18%. Overseas gold production grew 33.44%, effectively offsetting domestic mine suspension impacts. Deutsche Bank recently maintained a bullish outlook on gold, targeting USD 4,700-5,100/oz by year-end, citing central bank purchases and ETF inflows.

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