HK Stock Market Move | LINGBAO GOLD (03330) has risen by over 9%, with its stock price doubling since the beginning of the year. Gold price has returned to $2900 USD.

LINGBAO GOLD (03330) rose more than 9%, with its stock price doubling since the beginning of the year. As of the time of writing, it has increased by 9.12%, reaching 5.86 Hong Kong dollars, with a trading volume of 29.834 million Hong Kong dollars. In terms of news, LINGBAO GOLD previously announced a profit increase, estimating that the income for the year ending December 31, 2024 will be about 11.587 billion yuan to 11.903 billion yuan, an increase of about 10% to 13% year-on-year; net profit will be about 617 million yuan to 706 million yuan, an increase of about 110% to 140% year-on-year. The announcement stated that the increase in net profit is mainly due to the group overcoming the impact of policies and infrastructure renovations in the first half of the year, intensively rushing production in the second half of the year, optimizing ore processing and mining technology, achieving significant results in refined management transformation, significantly improving overall operational efficiency, and also benefiting from the rise in the prices of the group's main product, gold. It is worth noting that, benefiting from the resurgence of market risk aversion sentiment and expectations of interest rate cuts, the international gold price has returned to over 2900 US dollars. Huafu Securities believes that in the short term, concerns about the escalation of global trade wars and worries about future economic stagflation still persist in the market, and it is expected that precious metal prices will fluctuate mainly. From a medium to long-term perspective, the monetary policy direction of major global economies is clear, and geopolitical conflicts in Eastern Europe and the Korean Peninsula will continue to highlight the safe-haven properties of precious metals. The People's Bank of China increased its gold holdings in January, indicating that the long-term value of precious metal allocation remains unchanged.