Movement Alert|Zhaojin Mining Falls 3.65% in Regular Trading, Gold Sector Broadly Weak as Mine Shutdown Drags on Q1 Earnings Outlook

Market Focus06-18

On June 18, Zhaojin Mining fell 3.65% in regular trading, trading at 20.62 HKD/share, with turnover of approximately 20.26 million HKD. The gold sector faced broad selling pressure with industry peers declining across the board.

On the news front, Zhaojin Mining's core mines in Zhaoyuan have been fully suspended for safety inspections since May 14 following a fatal cage-fall accident at Canchuang Gold Mine that killed seven workers. The lost production during the shutdown is estimated at 20%-30% of Q1 output, significantly weighing on near-term earnings expectations ahead of the upcoming quarterly report. Additionally, short selling on June 17 reached 75.21 million HKD, accounting for 30.93% of total daily turnover, indicating persistent bearish pressure.

Within the Gold sector, the overall sector declined. Among individual stocks, Zijin Mining down 1.51%, China Gold International down 2.41%, Zijin Gold International down 3.22%, Lingbao Gold down 3.29%, and Chifeng Gold down 3.46%.

(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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