Zijin Gold International released its earnings results, reporting a 1.2-fold year-on-year increase in net profit to US$2 billion for the first nine months, revenue rose 70% to US$5.8 billion, and operating cash flow surged 1.6-fold to US$2.78 billion. However, excluding the first two quarters, third-quarter profit declined 12% quarter-on-quarter to US$564 million, below market expectations.
The stock's afternoon price drop widened, dragging down other gold mining stocks; Zijin (02899) fell 3.5% to HK$30.84; Zhaojin Mining Industry (01818) dropped 1.8% to HK$17.87; Shandong Gold (01787) declined 0.3% to HK$18.72; Lingbao Gold (03330) fell 1.1% to HK$18.12; Chifeng Gold (06693) dropped 3.5% to HK$33.74; Tongguan Gold (00340) declined 2% to HK$2.49.
Currently, the Hang Seng Index stands at 23,895, down 291 points or 1.2%, with main board turnover nearing HK$168 billion. The Hang Seng China Enterprises Index is at 8,040, down 87 points or 1.1%. The Hang Seng Tech Index stands at 4,050, down 57 points or 1.4%.
| Stock (Code) | Current Price (HK$) | Change (%) |
|---|---|---|
| Zijin Gold International (02259) | 135.20 | Down 8.89% |
| Zijin (02899) | 30.84 | Down 3.50% |
| Zhaojin Mining Industry (01818) | 17.87 | Down 1.76% |
| Shandong Gold (01787) | 18.72 | Down 0.27% |
| Lingbao Gold (03330) | 18.12 | Down 1.15% |
| Chifeng Gold (06693) | 33.74 | Down 3.54% |
| Tongguan Gold (00340) | 2.49 | Down 1.97% |
