Market Overview - The Hong Kong stock market showed mixed results with the Hang Seng Index down by 1.07% to 24,906.39 points, while the Hang Seng Tech Index increased by 0.34% and the National Enterprises Index fell by 1.03% [2] Key Stock Movements - Kuaishou saw a significant increase of nearly 9%, while Bilibili rose over 2%. Conversely, Meituan and Xiaomi both dropped over 2%, and JD.com also experienced a decline [2] - AI-related stocks performed well, with Meitu rising over 15%. Oriental Securities expressed optimism about user growth and commercialization of vertical AI products in the second half of the year, particularly for companies with overseas AI applications [2] - Biopharmaceutical B-shares were active, with Lepu Biopharma increasing over 4%. The National Healthcare Security Administration discussed support for innovative drug development with Singapore's GIC [3][4] Gold and Real Estate Sector Performance - Gold stocks continued to decline, with Tongguan Gold dropping over 8%. Recent trends indicate a shift in investor sentiment away from gold towards stocks, as gold prices fell below $3,270 per ounce [4][5] - The real estate sector faced significant declines, with Country Garden falling over 6%. A recent meeting of the Central Political Bureau highlighted limited focus on real estate, emphasizing the need for high-quality urban renewal [6][7]

Core Viewpoint - Tongguan Gold (00340) expects a significant increase in interim profit for the six months ending June 30, 2025, with estimated profit attributable to shareholders ranging from approximately HKD 330 million to HKD 360 million, representing an increase of about 259% to 291% compared to approximately HKD 92 million for the same period in 2024 [1] Group 1 - The increase in profit is primarily attributed to a rise in gold production and sales volume compared to the same period in 2024 [1] - The average selling price of gold has also increased, contributing to the higher profit margins [1]

Core Viewpoint - Tongguan Gold (00340) expects to achieve a profit attributable to shareholders of approximately HKD 330 million to HKD 360 million for the six months ending June 30, 2025, representing an increase of approximately 259% to 291% compared to the profit of approximately HKD 92 million for the same period in 2024 [1] Group 1 - The increase in profit attributable to shareholders is primarily due to an increase in gold production and sales volume compared to the same period in 2024 [1] - The average selling price of gold has also risen, contributing to the overall profit increase [1]

港股午评：恒指跌1%跌破25000点关口 黄金股、内房股跌幅明显 智通财经7月31日电，港股早盘三大指数涨跌不一，恒生科技指数午间收涨0.34%，恒生指数、国企指 数分别下跌1.07%及1.03%，恒指跌破25000点关口。盘面上，大型科技股盘中部分由跌转涨，快手大涨 近9%，腾讯转涨至1.46%，网易、阿里巴巴飘红，美团下跌近4%，京东、小米跌超2%。黄金股跌幅明 显，潼关黄金大跌8.6%，录得6连跌行情；内房股全线下跌，碧桂园、万科企业、新城发展跌幅居前； 家电股、汽车股、光伏股、煤炭股、建材水泥股、石油股、中资券商股、内险股纷纷走低。 ...

Core Viewpoint - Tongguan Gold (00340.HK) expects a significant increase in profit attributable to shareholders for the six months ending June 30, 2025, projecting a profit range of approximately HKD 330 million to HKD 360 million, representing an increase of about 259% to 291% compared to HKD 92 million for the same period in 2024 [1] Group 1 - The increase in profit is primarily attributed to a rise in gold production and sales volume compared to the same period in 2024 [1] - The average selling price of gold has also increased, contributing to the higher profit margins [1]

潼关黄金集团有限公司主要从事黄金及相关矿物的勘探、开采、选矿和销售业务，业务遍及中国多个省 份。公司自2017年以来通过一系列收购整合了多个矿业公司，进一步扩展其黄金开采业务的市场份额。 7月31日，潼关黄金(00340)盘中下跌8.16%，截至10:07，报1.8元/股，成交2365.62万元。 本文源自：金融界 作者：行情君 截至2024年年报，潼关黄金营业总收入14.86亿元、净利润1.96亿元。 ...

灵宝黄金(03330)涨超4%，截至发稿，涨4.89%，报10.72港元，成交额1.06亿港元。 消息面上，灵宝黄金近期发盈喜，预计截至2025年6月30日止6个月取得收入约74.92亿元(人民币，下同) 至79.2亿元，同比增加介于约75%至85%；净利润介于约6.56亿元至6.87亿元，同比增加介于约330%至 350%。 中信期货指出，后续来看，经贸不确定性短期下降，关税逐渐成为慢变量，关注美国基本面及降息预期 变化，本周美国非农数据及7月降息会议上美联储的表达较为重要。月度级别来看，后续重点关注8月全 球央行年会，若配合美联储换届扰动，或带来波动弹性放大。 ...

（原标题：加纳黄金管理体制改革推动小规模黄金出口激增） 据《加纳网》7月28日报道，2025年上半年，加纳小规模采矿业出口了51.5吨黄金，价值约50亿美 元，是去年同期26.4吨出口量的两倍。加财政部长卡西埃尔·阿托·福森博士表示，黄金的出口量增长 100%，出口额增长180%，这一增长得益于新成立的黄金委员会推行的改革：加大力度规范和监管小规 模黄金生产和出口。这也是加历史上小规模采矿业的黄金出口量首次超过大型采矿业。 ...

证券日报网讯 7月29日晚间，山东黄金（600547）发布公告称，公司将于2025年8月14日召开2025年第 三次临时股东大会。本次股东大会将审议《关于取消监事会、修订〈公司章程〉并办理登记备案事宜的 议案》《关于修订〈股东大会议事规则〉的议案》等多项议案。 ...

Core Viewpoint - 大唐黄金 (08299) reported significant growth in revenue and net profit for the fiscal year ending March 31, 2024, with a revenue of HKD 1.314 billion, representing an 81.83% year-on-year increase, and a net profit of HKD 66.55 million, up 20.35% year-on-year [3]. Financial Performance - The company achieved a revenue of HKD 1.314 billion, marking an 81.83% increase compared to the previous year [3]. - The net profit attributable to shareholders was HKD 66.55 million, reflecting a year-on-year growth of 20.35% [3]. - The net cash flow from operating activities was HKD 69.03 million, which represents a significant decline of 74.09% year-on-year [29]. - Basic earnings per share were reported at HKD 0.0095, with an average return on equity of 12.45%, down 1.24 percentage points from the previous year [3][25]. Valuation Metrics - As of July 24, the price-to-earnings (P/E) ratio (TTM) was approximately 31.81 times, the price-to-book (P/B) ratio (TTM) was about 3.3 times, and the price-to-sales (P/S) ratio (TTM) was around 1.61 times [3]. Cash Flow and Investment Activities - The net cash flow from financing activities increased significantly to HKD 10.498 million, up HKD 55.228 million year-on-year [29]. - The net cash flow from investing activities was reported at -HKD 97.229 million, compared to -HKD 187 million in the previous year [29]. Asset and Liability Changes - As of March 31, 2025, inventory increased by 168.47%, contributing to a 13.43 percentage point rise in its proportion of total assets [38]. - The company’s fixed assets rose by 6.35%, while cash and cash equivalents decreased by 48.91% [38]. - Accounts receivable and notes receivable decreased by 81.56%, impacting their share of total assets [38]. - Accounts payable and notes payable surged by 240.06%, increasing their share of total assets by 17.59 percentage points [41]. Liquidity Ratios - The current ratio was reported at 1.04, while the quick ratio stood at 0.3 [44].