Group 1 - The Hong Kong gold sector has seen significant stock price increases this year, with companies like Old Poo Gold and Shandong Gold experiencing price doubles, indicating high market trading sentiment [2] - Zijin Mining Group announced plans to inject its overseas gold mining assets into its wholly-owned subsidiary, Zijin Gold International, and has submitted a listing application to the Hong Kong Stock Exchange [2][3] - The IPO of Zijin Gold International is expected to raise funds for various purposes, including repaying transitional loans for the acquisition of the Kazakhstan Raygorodok gold mine and enhancing existing mining projects [2][9] Group 2 - Zijin Mining's main revenue comes from various metals, with copper being the largest contributor, while the gold mining assets being spun off represent a smaller portion of its overall assets [3] - For the fiscal year 2024, Zijin Mining reported revenues of RMB 303.64 billion, while Zijin Gold International's revenue was approximately USD 2.99 billion (RMB 21.42 billion), accounting for about 7.06% of Zijin Mining's total revenue [3][4] - Zijin Gold International holds rights to eight gold mines across Central Asia, South America, Oceania, and Africa, with significant ownership stakes in most of them [4][5] Group 3 - The financial performance of Zijin Gold International for 2024 includes an adjusted EBITDA of USD 1.384 billion, with a profit margin of 46.3%, benefiting from rising gold prices [5][6] - The acquisition of the Ghana Akim gold mine is expected to contribute significantly to Zijin Gold International's revenue once it is fully integrated into its financials [6] - The Kazakhstan Raygorodok gold mine acquisition is valued at USD 1.2 billion, with expected annual gold production of 5.5 tons, which could enhance Zijin Gold International's earnings [9][10] Group 4 - The stock performance of Zijin Mining has increased by 51.49% this year, attributed to rising gold and copper prices, while its valuation appears lower compared to other gold mining companies [10] - The spin-off of overseas gold mining operations may unlock asset value for Zijin Mining and provide independent financing channels for its subsidiaries [10] - The future performance of Zijin Gold International's IPO will depend on final pricing, offering scale, and market conditions at the time of launch [10]