Zijin Mining(HK:02899) Zheng Quan Shi Bao Wang·2025-04-02 13:18Group 1 - GIC Private Limited reduced its stake in Zijin Mining by 62 million shares in Q1, realizing approximately HKD 1 billion based on an average transaction price of HKD 16.1 per share [1] - As of June 30, 2024, GIC remains the third-largest shareholder of Zijin Mining's H shares, holding 428 million shares, which represents 1.61% of the total issued shares [2] - The reduction in GIC's holdings has raised market speculation, especially against the backdrop of rising gold prices [1] Group 2 - Zijin Mining has benefited from a significant increase in gold prices, with its A-share price rising over 20% in both 2023 and 2024 [3] - Institutional investors, including public funds and private equity, have been reducing their holdings in Zijin Mining, with public funds holding 16.33% as of the end of 2024, down by over 1 percentage point [3] - Three ETFs collectively realized over HKD 1.1 billion from their holdings in Zijin Mining during the fourth quarter [3] Group 3 - The current A-share price-to-earnings ratio of Zijin Mining is 14.51, which is close to its three-year average of 15.85, indicating a 60% premium over its three-year low of around 9 times [5] - The industrial metal sector index has seen a decline of 4.69% from March 26 to April 2, with Zijin Mining's A and H shares both dropping over 4.5% during the same period [5]