HK Stock Market Move | LINGBAO GOLD (03330) rises by over 11%. It is expected that the full-year net profit will increase by up to 1.4 times year-on-year. Institutions are optimistic about the widening pre-tax profit per ounce.

LINGBAO GOLD (03330) rose by more than 11%, as of the time of writing, it has increased by 11.11% to 4.8 Hong Kong dollars, with a trading volume of 19.5696 million Hong Kong dollars. On the news front, LINGBAO GOLD announced its profit announcement, expecting annual revenue to be around 11.587 billion to 11.903 billion yuan, an increase of about 10% to 13% year-on-year; expected annual net profit of about 617 million to 706 million yuan, an increase of about 110% to 140% year-on-year, mainly due to the group overcoming the impact of policy and infrastructure renovations in the first half of the year, making efforts to increase production in the second half of the year, and optimizing mineral processing and mining technology, achieving significant results in fine management reform, significantly improving overall operational efficiency, and also benefiting from the rise in the price of the group's main product, gold. CICC released a research report stating that looking forward to 2025, the price of gold may still be in a bull market trend, and it may break through $3,000 per ounce in 2025, with the price of gold in RMB potentially experiencing a larger increase compared to the price in USD. From 1Q24 to 3Q24, as cost increases slow down and gold prices continue to rise, the pre-tax profit per ounce begins to stabilize and rise from $692 to $1,019. Looking ahead to 4Q24 and 2025, CICC predicts that the pre-tax profit per ounce of global gold companies may further widen.