HK Stock Market Move | Zhaojin Mining (01818) rose more than 8% in the afternoon, with expectations of interest rate cuts and central bank gold purchases boosting gold prices. Maritime gold mines will become a core growth point.

Zhaojin Mining (01818) rose more than 8% in the afternoon, up 7.64% to 34.96 Hong Kong dollars as of press time, with a turnover of 5.52 billion Hong Kong dollars. On the news front, the US and Iran have reached a conditional ceasefire for two weeks, reducing concerns about stagflation, and raising expectations for a rate cut by the US Federal Reserve. The pressure on gold and silver caused by the high oil prices, which previously suppressed expectations of a rate cut, has been alleviated. In addition, the latest data released by the People's Bank of China shows that official gold reserves were 74.38 million ounces at the end of March 2026, an increase of 160,000 ounces from the end of the previous month, the first time that monthly holdings have exceeded 100,000 ounces since March 2025. First Shanghai issued a research report stating that Zhaojin Mining is currently experiencing the best development opportunities in its history. The performance explosion in 2025 has validated its strong profit-making ability in existing businesses. The expected production of at least 15 tons of gold from the marine gold mine in 2028 will provide an unparalleled growth space for the company in the future. It is expected that the company's profits for 2026-2028 may reach 7.8/9.3/17 billion yuan. The company is a core target in the gold sector with high certainty and strong growth potential, and has long-term strategic allocation value.