HK Stock Market Move | ZIJIN GOLD INTL (02259) rose more than 5% in early trading today and is now included in the list of Hong Kong stock connects. UBS is bullish on the company's rapid production expansion.

ZIJIN GOLD INTL (02259) rose by more than 5% in the morning session, up 4.93% as of the press time, trading at HK$149 with a turnover of HK$1.031 billion. On the news front, the Shenzhen Stock Exchange announced the adjustment of the list of securities under the Hong Kong Stock Connect, with ZIJIN GOLD INTL being added starting from October 16. It was reported that on October 2, Hang Seng Index Company announced that ZIJIN GOLD INTL meets the requirements for rapid inclusion in the Hang Seng Composite Index and will be included in the Hang Seng Composite Index, Hang Seng Composite Industry Index - Materials, Hang Seng Composite LargeCap Index, and Hang Seng Composite MediumCap Index starting from October 15 and effective from October 16. UBS previously released a research report stating that ZIJIN GOLD INTL is a subsidiary of ZIJIN MINING's overseas gold mines. The company is expected to achieve a compound annual growth rate of approximately 20% in production from 45 tons to 65 tons between 2025 and 2027, leading to a 30% compound annual growth rate in profits. The bank pointed out that with the further expansion of current projects and existing mines, especially the doubling of production at the Akyem and RG gold mines, the company may become the largest gold miner listed on the Hong Kong Stock Exchange or the A-share market in the 2027 fiscal year. Through its acquisition plan, ZIJIN GOLD INTL is expected to achieve a compound annual growth rate in production of 17% between 2025 and 2030 fiscal years and reach a target production of 100 tons by 2030.