Hua Xia Shi Bao·2025-09-11 13:17Core Viewpoint - The gold market has regained investor attention as international gold prices surged, breaking historical records, which has positively impacted the performance of gold-related companies [2][3]. Company Performance - Eight listed gold companies reported a combined net profit of 31.4 billion yuan for the first half of 2025, showcasing strong growth in the gold industry [2]. - Zijin Mining led the industry with a net profit of 23.292 billion yuan, a year-on-year increase of 54.41% [3][4]. - Shandong Gold achieved a net profit of 2.808 billion yuan, with a remarkable growth rate of 102.98% [4]. - China Gold reported a net profit of 319 million yuan, a decline of 46.35% due to decreased sales volume [5]. Price Dynamics - The average price of London spot gold exceeded 3,300 USD per ounce in the first half of 2025, reflecting a year-on-year increase of over 20% [3]. - The production cost for major gold mining companies remained between 1,800 to 2,200 USD per ounce, significantly expanding profit margins [3]. Industry Trends - The continuous rise in gold prices has led to increased consumer preference for gold jewelry, contributing to the revenue growth of gold companies [4]. - Companies are enhancing production through acquisitions and expansions, which has positively impacted their output [4][5]. Strategic Insights - The gold industry is expected to benefit from global central bank purchases and the increasing strategic importance of gold amid a trend of "de-dollarization" [7]. - Companies are focusing on overseas resource acquisitions and technological innovations to reduce costs and improve efficiency [7]. Market Outlook - The gold price is anticipated to remain strong, with projections for the average price in the second half of 2025 to range between 3,600 to 3,800 USD per ounce [9]. - Investors are advised to approach the current high gold prices with caution, emphasizing a strategic asset allocation rather than speculative trading [9].