HK Stock Market Move | LINGBAO GOLD (03330) rose over 4%. The exploration work of Huatai Company in Habahe, Xinjiang has made significant progress, with mid-term net profit expected to increase by about 42% to 57%.

LINGBAO GOLD (03330) rose over 4%. As of the time of writing, it is up 4.09%, priced at HKD 21.36, with a transaction volume of HKD 526 million. In terms of news, recently, LINGBAO GOLD announced that the Habahe Huatai Gold Co., Ltd. (Huatai Company, a wholly-owned subsidiary of the Group) and its subsidiary Habahe Huayuan Mining Co., Ltd. (Huayuan Company, a non-wholly owned subsidiary held indirectly by the Company with a 60% equity stake) in the Altay region of Xinjiang have made significant progress in overall exploration work. By June 30, 2026, the estimated resource amount is projected to increase from 13.20 tons at the end of 2025 (as disclosed in the Companys 2025 annual report) to 53.94 tons. Previously, LINGBAO GOLD disclosed a positive earnings forecast, estimating that for the six months ending June 30, 2026, the Group will record revenue of approximately RMB 7.9 billion to RMB 8.1 billion, a year-on-year increase of about 1% to 4%; net profit is expected to be around RMB 950 million to RMB 1.05 billion, a year-on-year increase of about 42% to 57%. The announcement stated that the strong performance in net profit is attributed to the stable advancement of production and operations in the first half of the year, the strict implementation of cost reduction and efficiency enhancement measures, and the rise in the price of gold, the Groups main product.