HK Stock Market Move | Wanguo Gold GP (03939) rises more than 5% against the market, officially entering the Stock Connect list today. The company expects its full-year net profit to increase by over 60%.

WANGUO GOLD GP (03939) rose more than 5% against the market, rising 4.06% to HKD 13.32 as of the time of reporting, with a turnover of HKD 27.5344 million. On the news front, there have been adjustments to the list of stocks eligible for the Hong Kong Stock Connect, effective from March 10, 2025, with WANGUO GOLD GP being included in the list. In addition, the company has issued a profit announcement, expecting a net profit of not less than RMB 536 million for the year 2024, an increase of at least 60% year-on-year. The main reason for the expected increase in profit is due to the increase in sales volume of gold products. It is worth noting that WANGUO GOLD GP had previously revised the data on the resources and reserves of the Jinling Gold Mine. China Minsheng Securities pointed out that WANGUO GOLD GP currently owns 88.2% equity in the Jinling Gold Mine. Since the resumption of production at the Jinling Gold Mine, the production operation of the mine has been very good, and there is still great potential for expansion and improvement in management in the future. This update of the resource quantity has laid a broad foundation for the company's future growth space, with the gradual increase in current production capacity and further expansion in the future, combined with the current upward trend in gold prices, the company is optimistic that the future gold production will continue to increase in both quantity and price.