HK Stock Market Move | ZHAOJIN MINING (01818) rose more than 5% to a record high, with spot gold reaching $5250. Institutions pointed out that the company is the major beneficiary.

ZHAOJIN MINING (01818) rose more than 5%, reaching a high of 40.8 Hong Kong dollars, a record high. As of the time of writing, it is up 5.21% at 40.42 Hong Kong dollars, with a trading volume of 8.04 billion Hong Kong dollars. On the news front, driven by tensions in the Middle East and a weak US dollar, the price of gold is soaring. At midday on January 28, spot gold broke through $5260 per ounce and is now trading at $5264.33 per ounce, with a year-to-date increase of over 20%, continuing to set new all-time highs. Citigroup analysis believes that the gold pricing mechanism has shifted from traditional "cost pricing" to a dual-wheel drive model of "global wealth reallocation + supply rigidity" in a bull market scenario, with prices poised to challenge $6000 per ounce. Macquarie previously pointed out in a research report that ZHAOJIN MINING continues to expand its portfolio of gold mines and achieve organic growth through exploration. They have raised their net profit forecasts for ZHAOJIN MINING for 2025 to 2027 by 10%, 74%, and 50% respectively, to 3.617 billion, 4.991 billion, and 4.293 billion RMB. Industry disclosures show that the company's key project, the Hailar Gold Mine, is currently under construction and is expected to start production by the end of 2027 to early 2028. Additionally, they have a positive view on the gold price. As a low-cost pure gold company, ZHAOJIN MINING is a major beneficiary of rising gold prices.