SCG(SH:600170) Di Yi Cai Jing·2025-09-16 03:06Core Viewpoint - Shanghai Construction's stock price surge is primarily driven by market speculation regarding a significant increase in gold resource reserves at its subsidiary, Zara Mining, despite the company clarifying that this information is not recent and was disclosed in 2020 [2][3]. Group 1: Stock Performance - On September 16, Shanghai Construction's stock price reached a limit-up of 3.21 yuan, marking a three-day consecutive rise and increasing its total market value to 28.524 billion yuan [2]. - The stock price has been influenced by a retail investor's long-term commitment to the company, who has been averaging down their position over ten years, creating a social media movement to support this investor [2][3]. - The stock experienced significant net inflows from institutional investors, with 333.6 million yuan net inflow on September 16, following 487 million yuan on September 12 and 135 million yuan on September 15 [3]. Group 2: Gold Resource and Financial Performance - The market speculated that Zara Mining's Koka gold mine has seen a resource increase of 338,900 ounces, valued at approximately 603 million USD (about 4.272 billion yuan) [2]. - Shanghai Construction's traditional construction business faced a 28.04% revenue decline in the first half of 2025, while gold sales generated 403 million yuan, reflecting an 8.44% year-on-year growth and contributing 1.46 million yuan to total gross profit [4]. - The international gold price has been on a strong upward trend, with a cumulative increase of 26.4% in 2024 and 26.5% in the first half of 2025, reaching a historical high of 3,724.9 USD per ounce [4].