Zhaojin Mining hits record high on robust earnings growth

Zhaojin Mining Industry Co

22/04/2025 03:03

** Shares of Zhaojin Mining Industry 1818.HK jump 8.4% to   HK$20.5, their highest since debut in December 2006

** The Chinese gold miner said its Q1 net profit jumped 198% y/y to 659.2 mln yuan ($90.29 mln) and revenue up 53.5% y/y at 3.04 bln yuan

** Citi maintains "Buy" on the stock, says profit rise is mainly due to increasing gold price amid higher self-produced mine gold output

** "As a pure gold producer, we believe Zhaojin will benefit from hiking gold price," Citi said, adding for 5% increase in average gold price Zhaojin’s net profit is estimated to increase 10% in 2025E

** Hang Seng Commerce & Industry Index .HSNC eases 0.7%, Hang Seng Index .HSI slips 0.5%

** Stock up 85.7% YTD

($1 = 7.3012 yuan)

 (Reporting by Donny Kwok)

 ((donny.kwok@thomsonreuters.com))