HK Stock Market Move | GT GOLD (08299) closes up 8% with an expected annual net profit growth of approximately 43% year-on-year.

GT GOLD (08299) rose 8% in the afternoon trading session, closing with an 8% increase at HK$0.54, with a turnover of HK$49.9047 million. On the news front, on the evening of May 13th, GT GOLD announced that for the fiscal year ending March 31, 2026, the company is expected to achieve revenue of approximately HK$2.05 billion, an increase of about 53% year-on-year; the attributable profit to the company's owners is expected to be approximately HK$95 million, an increase of about 43% year-on-year. The increase in net profit is mainly attributed to the expansion of production scale, improvement in gross profit, and the rise in average gold price during the year. At the end of March this year, GT GOLD acquired a mature gold mine in Ningshan County, Shaanxi, for a total consideration of HK$585 million, at a discount of about 35%, with a per ounce acquisition cost of only about $114. This also means that in the current environment of high gold prices, the profit cushion for this asset is extremely generous. In addition, the Ningshan gold mine acquired by GT GOLD is expected to resume production as early as July this year, and its contribution to the company's performance will be further evident in the next fiscal year.