HK Stock Market Move | LINGBAO GOLD (03330) continues to rise by over 3%, with a cumulative increase of over 30% since the beginning of the year. Annual net profit is expected to increase by 1.4 times year-on-year, the highest in history.

LINGBAO GOLD (03330) continues to rise by over 3%, with a cumulative increase of over 36% since the beginning of the year. As of the time of writing, it has increased by 3.21% to HK$5.15, with a turnover of HK$48.4273 million. In terms of news, LINGBAO GOLD recently announced a profit increase, expecting to achieve a revenue of approximately RMB 11.587 billion to RMB 11.903 billion for the year ending December 31, 2024, an increase of approximately 10% to 13% year-on-year; net profit is expected to be approximately RMB 617 million to RMB 706 million, an increase of approximately 110% to 140% year-on-year. The announcement stated that the increase in net profit was mainly due to the Group overcoming the impact of policies and infrastructure renovations in the first half of the year, ramping up production in the second half of the year, optimizing ore selection and mining technology, achieving significant results in fine management reforms, significantly improving overall operational efficiency, and benefiting from the rise in the price of the Group's main product, gold. It is worth noting that due to uncertainty in Trump's policies leading to demand for safe-haven assets, coupled with a weak US dollar, overnight gold prices soared to nearly a three-month high, approaching historical highs, with spot gold rising nearly 0.7% to over $2760. CICC released a research report stating that looking ahead to 2025, gold prices may still be in a bull market trend, with a potential to break through $3000 per ounce in 2025, and the price of gold in RMB may achieve a larger increase compared to the price in USD.