SCG(SH:600170) Chang Jiang Shang Bao·2025-09-22 08:29Core Viewpoint - Shanghai Construction Group (600170.SH) has experienced a significant stock price surge due to rumors regarding increased gold reserves at its subsidiary, Zala Mining, despite the company clarifying that these claims are outdated and not new positive news [2][3] Group 1: Stock Performance - Shanghai Construction Group's stock has achieved five consecutive daily limit-ups, with a total increase of 60.99% over five days, closing at 3.88 yuan per share, marking a nearly four-year high [2] - The stock price surge is attributed to market speculation about Zala Mining's gold reserves, prompting the company to issue multiple announcements to clarify the situation [2] Group 2: Company Clarifications - The company confirmed that its operations are normal and there are no undisclosed significant matters, with the controlling shareholder also confirming no major asset restructuring or stock incentive plans [2] - Shanghai Construction Group emphasized that the rumors regarding increased gold reserves are based on information disclosed in August 2020 and do not represent new developments [2] Group 3: Business Performance - The company's gold business revenue has historically been a small fraction of total revenue, with figures from 2019 to the first half of 2025 showing gold revenue never exceeding 0.5% of total revenue [3] - In the first half of 2025, the company reported total revenue of 1050.42 billion yuan, a year-on-year decline of 28.04%, with net profit down 14.07% to 7.1 billion yuan [3] - The traditional construction contracting business saw a significant revenue drop of 30%, while the gold sales business achieved revenue of 4.03 billion yuan, an 8.44% increase year-on-year, contributing 1.46 billion yuan to total gross profit [3]