HK Stock Market Move | CHINAGOLDINTL (02099) rises over 4% again, Longshan Hao gold mine slope stabilization plan approved, and performance in the first half of the year shows significant year-on-year growth.

CHINAGOLDINTL (02099) rose more than 4% again, up 4.16% to HKD 230.2 as of the time of publication, with a transaction volume of HKD 331 million. In terms of news, CHINAGOLDINTL announced last night that the slope treatment plan for the Changshanhao gold mine has been approved. According to the current construction schedule, it is expected that the critical phased treatment works necessary for the restoration of mining operations will be completed within approximately one month after the construction unit is determined and mobilized, and normal mining operations will gradually resume. Previously, CHINAGOLDINTL's interim results showed that the net profit for the first half of this year was USD 510 million, a year-on-year increase of 153.3%. In the second quarter, the net profit reached USD 273 million, a year-on-year increase of 137% and a quarter-on-quarter increase of 17%. Notably, the company announced a large open-pit plan, increasing the daily ore processing capacity from 50,000 tons to 160,000 tons. According to calculations by Soochow, the Jiamar mine is expected to contribute a gross profit of about USD 970 million by 2026. If the large open-pit plan is fully realized, the targeted gross profit from the expansion of ore processing alone could reach approximately USD 4.5 billion, indicating considerable long-term profit growth.