Movement Alert|LINGBAO GOLD Rises 10.16% in Regular Trading, Interim Earnings Review Imminent Amid Sustained Gold Price Strength

Market Focus08-20 09:34

On August 20, LINGBAO GOLD rose 10.16% in regular trading, trading at 23.98 HKD/share, with turnover of HKD 119 million.

On the news front, the company's board is scheduled to convene on August 26 to review interim results and consider a dividend distribution plan. A prior profit alert indicated first-half net profit of approximately RMB 9.5 billion to RMB 10.5 billion, representing year-on-year growth of 42% to 57%, while revenue is expected at RMB 79 billion to RMB 81 billion, up 1% to 4%. Additionally, the company's Xinjiang Habahe Huatai subsidiary reported a major exploration breakthrough, with gold metal reserves surging from 13.20 tonnes to 53.94 tonnes, an increase exceeding threefold.

The broader gold sector rallied in tandem, with ZIJIN GOLD INTL up 10.73%, SD GOLD up 9.46%, ZHAOJIN MINING up 8.74%, CHINAGOLDINTL up 6.86%, and CHIFENG GOLD up 6.55%, as gold prices continued to strengthen.

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