Core Viewpoint - China Gold International (02099) has seen its stock price rise over 7%, reaching a historical high of 96 HKD, driven by strong mid-year performance and positive production outlook [1] Financial Performance - The company reported a sales revenue of 580 million USD, an increase of 178.36% year-on-year [1] - Mining operating profit reached 277 million USD, reflecting a significant increase of 1443.71% year-on-year [1] - Shareholder profit amounted to 200 million USD, a turnaround from a loss of 31.67 million USD in the same period last year [1] Production Metrics - Total gold production for the first half of the year was 2.74 tons, up 69% year-on-year [1] - Total copper production reached 35,000 tons, marking a 231% increase year-on-year [1] - Both gold and copper production exceeded 50% of the annual guidance [1] Future Expansion Potential - The company’s Jiama mine has significant expansion potential, with the Yulong tailings project expected to be operational by mid-2027, increasing daily processing capacity from 34,000 tons to 44,000 tons [1] - There is a possibility of further increasing processing capacity to 50,000 tons per day, pending safety permit approvals [1] - Exploration activities in the Bayi Ranch and Zhegu Langbei areas have shown substantial resource potential, supporting future expansion plans [1]

今日三大指数集体低开，恒生指数跌0.45%，报25714.91点，恒生科指跌0.76%，国企指数跌0.39%。盘 面上，科网股普跌，阿里巴巴跌超2%，京东、哔哩哔哩、网易跌超1%；黄金股、板块延续涨势，涨近 2%；新消费概念部分高开，老铺黄金涨超1%；汽车股回调，蔚来跌近8%，昨日涨超15%。 美股周一表现回落，大市急升后出现整固，三大指数均录得跌幅收市。美元表现反弹，美国十年期债息 回升至4.27厘水平，金价反复向下，油价则走势向好。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不 对所包含内容的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担 全部责任。邮箱：news_center@staff.hexun.com | 名称 | 量新价 | 涨跌幅 √ | | --- | --- | --- | | 国企指数 | 9211.78 | -0.39% | | 800100 | | | | 恒生指数 | 25714.91 | -0.45% | | 800000 | | | | 恒生科技指数 | 5780.95 | -0.76% | | 800 ...

Group 1 - The company's 1H25 performance met market expectations, with operating revenue of 5.272 billion yuan, a year-on-year increase of 25.64%, and a net profit attributable to shareholders of 1.107 billion yuan, up 55.79% year-on-year [1] - In 1H25, the company's gold production decreased to 6.8 tons, a year-on-year decline of 10.56%, while the average gold price increased to 722 yuan per gram, up 38.64% year-on-year [1] - The company anticipates that costs will gradually return to normal levels in the second half of the year, despite a temporary increase in costs due to mining expansion preparations and a decline in ore grades [1] Group 2 - The company has begun its first sales in the rare earth sector, with 1H25 revenues from rare earths at 5.968 million yuan and a net loss of 1.54 million yuan [2] - Future growth is expected as the company enhances gold production and controls costs, with several mining projects in China and overseas progressing as planned [2] - The company has successfully completed its Hong Kong listing, raising funds to accelerate acquisitions and expand resource reserves, which is projected to enhance profit forecasts and valuations [3]

Group 1 - The gold sector in Hong Kong and A-shares experienced a collective rise, with notable increases in stocks such as Zhu Feng Gold (+11.31%) and Zijin Mining (+6.38%) [2][3] - In A-shares, Hunan Gold rose by 5.17%, and Zhongjin Gold increased by 4.48%, reflecting a positive market sentiment [3] Group 2 - The recent surge in gold stocks is attributed to multiple short-term factors, including dovish signals from the Federal Reserve, which raised expectations for interest rate cuts [4] - Following Jerome Powell's speech at the Jackson Hole conference, the market's expectation for a September rate cut increased from 75% to 90% [4] Group 3 - The decline in the US dollar index contributed to the rise in gold prices, with COMEX gold futures reaching a high of $3423.4 per ounce before settling at $3408.2 [5] - Analysts suggest that while gold prices may remain in a consolidation phase in the short term, the overall trend is expected to remain positive due to heightened rate cut expectations [6] Group 4 - Companies like Chifeng Jilong Gold and Zhaojin Mining reported strong mid-year earnings, with Chifeng achieving a revenue of 5.272 billion yuan, up 25.64%, and a net profit of 1.107 billion yuan, up 55.79% [7] - Zhaojin Mining reported a revenue of 6.973 billion yuan, a 50.69% increase, and a net profit of 1.44 billion yuan, up 160.44% [8] Group 5 - The significant profit increases for these gold mining companies are primarily attributed to rising gold prices, driven by heightened market risk aversion and central bank purchases [9]

Core Viewpoint - Zhaojin Mining's growth path is being continuously validated, with strong financial results for the first half of 2025, showcasing robust fundamentals and growth momentum [1] Financial Performance - In the first half of 2025, Zhaojin Mining achieved revenue of 6.973 billion yuan, a year-on-year increase of 50.69%, and net profit attributable to shareholders surged by 160.44% to 1.44 billion yuan [1] - The company's gold production reached 10,235.63 kilograms, representing a growth of approximately 13.77% compared to the same period last year [2] Segment Revenue - The gold mining segment generated revenue of 6.164 billion yuan, an increase of 44.4% year-on-year, while the copper mining segment earned 224 million yuan, up 31.6% [3] - Other business segments saw revenue growth of 209.5%, totaling 585 million yuan [3] Profitability - Zhaojin Mining's gross profit for the first half of the year was 3.05 billion yuan, a 54.31% increase year-on-year, with a gross margin of 43.74%, up 1.02 percentage points from the previous year [4] Market Environment - The gold market is experiencing a strong upward trend, with the London spot gold price reaching 3,302.96 USD per ounce by the end of June, a 25.8% increase from the beginning of the year [2] - The average gold price for the first half of the year was 3,077 USD per ounce, up 39.48% year-on-year [2] Growth Drivers - Zhaojin Mining is focusing on enhancing production efficiency and resource allocation, with ongoing projects like the Haiyu Gold Mine expected to significantly contribute to future production [8] - The company has also expanded its global resource network through acquisitions in Africa, which will further bolster its performance [8] Market Outlook - The current gold price trend is expected to continue, driven by geopolitical factors and central bank policies, with predictions of gold prices potentially reaching 4,500 USD per ounce in the coming years [5] - Zhaojin Mining's strong performance and optimistic outlook have led to a significant increase in its market capitalization, with a year-to-date gain exceeding 100% [9]

Core Viewpoint - The growth path of Zhaojin Mining (01818) is being continuously validated, with the release of its 2025 interim report showcasing strong fundamentals and growth momentum [1] Financial Performance - In the first half of the year, Zhaojin Mining achieved revenue of 6.973 billion yuan, a year-on-year increase of 50.69%, and net profit attributable to shareholders surged by 160.44% to 1.44 billion yuan [1] - The company completed gold production of 10,235.63 kilograms, representing a year-on-year growth of approximately 13.77% [2] - The gold mining segment generated revenue of 6.164 billion yuan, up 44.4% year-on-year, while copper mining revenue reached 224 million yuan, an increase of 31.6% [3] Market Environment - The gold market has seen significant inflows due to factors such as U.S. tariff policies, geopolitical conflicts, and central bank gold purchases, with gold prices reaching historical highs [2] - As of June 30, the London spot gold closing price was $3,302.96 per ounce, up 25.8% from the beginning of the year [2] Growth Drivers - Zhaojin Mining is focusing on "optimal production, increased production, and enhanced efficiency" to strengthen production operations and accelerate capacity release [2] - The company is advancing multiple projects, including the Haiyu Gold Mine, which is expected to produce over 15 tons of gold annually upon full production [8] - The company has also expanded its global resource network through acquisitions in Africa, which will contribute positively to its performance [8] Future Outlook - The long-term upward trend in gold prices is expected to continue, driven by factors such as the ongoing geopolitical tensions and the shift in global asset allocation away from the U.S. dollar [5] - Zhaojin Mining's strong performance and optimistic outlook have attracted investor interest, with its market value increasing by over 100% since the beginning of the year [9]

Group 1 - UBS has raised the target price for Zhaojin Mining (01818) from HKD 23.6 to HKD 25.3, maintaining a "Buy" rating based on an unchanged 18 times 2026 price-to-earnings ratio [1] - Zhaojin Mining reported a net profit of RMB 1.44 billion for the first half of the year, representing a year-on-year increase of 160%, with the second quarter net profit at RMB 781 million, up 136% year-on-year [1] - UBS has slightly adjusted its earnings forecasts for Zhaojin Mining, increasing the 2025 and 2026 profit estimates by 2% and 3% respectively, considering the recent internal adjustment of the 2025 gold price to USD 3,230 per ounce, a 4% increase from previous estimates [1]

Group 1 - UBS has raised the target price for Zhaojin Mining (01818) from HKD 23.6 to HKD 25.3, maintaining a "Buy" rating based on an unchanged 18 times 2026 earnings multiple [1] - Zhaojin Mining reported a net profit of RMB 1.44 billion for the first half of the year, representing a year-on-year increase of 160%, with the second quarter net profit at RMB 781 million, up 136% year-on-year [1] - UBS has slightly adjusted its earnings forecasts for Zhaojin Mining, increasing the 2025 and 2026 profit estimates by 2% and 3% respectively, considering a recent internal adjustment of the 2025 gold price to USD 3,230 per ounce, a 4% increase from previous estimates [1]

转自：北京日报客户端 fels XIV | 企业名称 | 职位名称 | 人数 | 工作地点 | | --- | --- | --- | --- | | 中国黄金集团 | | | 北京市 | | 有限公司博士尼 | 博士后研究人员(第2批) | 若干 | 顺义区 | | 科研工作站 | | | 吉林省 | | | | | 长春市 | | 中国黄金集团 建设有限公司 | 资产财务部副总经理 | 1人 | 北京市 | | 中国黄金集团 (上海)贸易 | 国际事业部 亦会员 | 1人 | 上海市 | | 有限公司 | | | 浦东新区 | | 中国黄金集团 | 所属企业河南文峪金矿副矿 | | | | 资产管理 有限公司 | 长、灵宝双鑫矿业有限责任公 | 1人 | 河南省 灵宝市 | | (集团内部招聘) | 司副总经理 | | | | 中国黄金集团物 | 综合事务部副经理 | 2人 | 北京市 | | 亦是種皂胺公司 (集团内部招聘) | 纪检专员 | 1人 | 矢城区 | | | 风险内控员 | 1人 | | | 中国黄金集团 | 数据应用部研发工程师 基础设施部副总经理 | 若干 1人 | | | 数智科技 ...

Core Viewpoint - Long Resources (01712) has seen a significant stock price increase, reaching a historical high of 6.31 HKD, with a current rise of 17.9% to 6.19 HKD, driven by strong interim performance and positive mining developments [1] Financial Performance - The company reported a customer revenue of 5,446 million AUD for the first half of the year, representing a year-on-year increase of 77.52% [1] - Net profit reached 1,269.2 million AUD, marking a substantial year-on-year growth of 543.94% [1] - Basic and diluted earnings per share were reported at 8.03 AUD cents [1] Production and Mining Developments - The increase in net profit is attributed to higher gold grades and recovery rates, with the Vammala plant producing 13,475 ounces of gold compared to 8,164 ounces in the same period last year [1] - The average gold price during the period also saw an increase, contributing positively to the financial results [1] - The company has announced the commencement of three underground diamond drilling activities at the Jokisivu gold mine in southern Finland for 2025, which have already identified several high-quality samples [1] - These activities provide additional data regarding the scope and geological structure of the Arpola and Basin areas, laying the groundwork for future mining studies [1]