Movement Alert|WANGUO GOLD GP Rises 5.27% in Regular Trading, International Gold Price Breaks Through $4100 as Central Bank Extends 20-Month Gold Buying Streak

Market Focus07-23

On July 23, WANGUO GOLD GP rose 5.27% in regular trading, trading at HK$11.46/share, with turnover of HK$107 million, extending its strong monthly performance with cumulative gains exceeding 40%.

On the news front, international gold prices broke through the $4,100/oz level after stabilizing above the $4,000 mark. China's central bank has increased gold reserves for 20 consecutive months, reaching 75.44 million ounces by end of June, providing solid physical demand support for gold prices. Guojin Securities noted that the company's Gold Ridge mine features clear resource reserves and expansion pathways with outstanding value elasticity. Additionally, the company has conducted sustained large-scale share buybacks since May, repurchasing approximately 8.11 million shares in June, signaling active management support. UBS previously maintained a Buy rating with a target price of HK$17.3.

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