Core Viewpoint - Shanghai Construction's recent stock price surge is primarily driven by market speculation regarding a significant increase in gold resources at its subsidiary, Zara Mining, despite the company clarifying that this information is not new and was disclosed in 2020 [3][6][10]. Group 1: Stock Performance - On September 16, Shanghai Construction's stock price reached a limit up at 3.21 yuan, marking a three-day consecutive rise, with a total market value of 28.524 billion yuan [3][4]. - The stock's recent performance has been influenced by substantial net inflows of main funds, totaling 33.36 million yuan on September 16, following a net inflow of 487 million yuan on September 12 [4][7]. Group 2: Gold Resource News - The market speculated that Zara Mining, in which Shanghai Construction holds a 60% stake, reported a significant increase in gold resources, with an additional 338,900 ounces valued at approximately 6.03 billion USD (about 4.272 billion yuan) [6][10]. - Shanghai Construction's management confirmed that the information circulating about the gold resource increase is based on previously disclosed data from 2020, not recent developments [6][10]. Group 3: Financial Performance - For the first half of 2025, Shanghai Construction reported a revenue of 105 billion yuan, a year-on-year decline of 28.04%, with a net profit of 71 million yuan, down 14.07% [9]. - The traditional construction business faced significant pressure, with a 30% drop in revenue from construction contracting and a 12.5% decline in industrial construction revenue, while gold sales generated 403 million yuan, reflecting an 8.44% increase [9][10]. - The gross profit margin for gold sales was notably high at 36.25%, significantly exceeding that of traditional construction operations [9][10].