Core Viewpoint - The stock of Zhongjin Gold (600489.SH) experienced a significant drop of over 5.4%, trading at 15.04 yuan per share, with a total market capitalization of 72.904 billion yuan following a tragic incident at one of its mining facilities [1][3] Incident Overview - On July 23, six students from Northeast University tragically drowned during a visit to the flotation process at the Wunugutu Mountain Copper-Molybdenum Mine operated by China National Gold Group [1] - One teacher was also injured in the incident, prompting local authorities, the university, and China National Gold Group to initiate post-incident management [1] Company Response - Following the incident, Zhongjin Gold announced that the affected plant has been shut down and that a command center has been established to manage the situation [3] - The company leadership has prioritized the incident, activating emergency protocols and promptly reporting to local government departments [3] Company Background - Zhongjin Gold was established on June 23, 2000, with China National Gold Group as the main initiator, and is recognized as a major player in the gold industry, producing various products including high-purity gold, standard gold, electrolytic copper, electrolytic silver, and sulfuric acid [3] - The company was the first in the national gold industry to be listed on the Shanghai Stock Exchange on August 14, 2003, earning the title of "China's first gold stock" [3]

Core Viewpoint - The stock of Zhongjin Gold (600489.SH) experienced a significant drop of over 7% on July 24, 2023, following a tragic incident involving the drowning of six students during a visit to one of its mining facilities [1][4]. Company Summary - Zhongjin Gold's stock price fell to 14.69 CNY per share, resulting in a total market capitalization of 712 billion CNY [1][2]. - The company announced that it has halted production and is currently focused on handling the aftermath of the incident, awaiting feedback from local authorities before resuming operations [4][5]. - The company expressed deep condolences for the victims and their families, and it is committed to fulfilling its information disclosure obligations regarding the incident [4][5]. Industry Summary - The incident has led to a collective adjustment in the gold stock market, with other companies such as Western Gold, Zhaojin Gold, and Chifeng Gold also experiencing declines [2][3]. - The gold industry is under scrutiny for safety practices, especially in light of the recent tragic event, which raises concerns about operational safety standards [4][5].