HK Stock Market Move | CHINAGOLDINTL (02099) rose over 7%, reaching a new historical high. The performance in the first half of the year saw a significant increase, with gold and copper prices in an upward cycle.

CHINAGOLDINTL (02099) rose over 7%, peaking at HKD 272.6, setting a new historical high. As of the time of writing, it has increased by 7.41%, quoted at HKD 272.6, with a transaction volume of HKD 622 million. In terms of news, CHINAGOLDINTL achieved impressive performance in the first half of this year, reaching a new historical high for the same period. In the first half, the company reported a net profit of USD 510 million, a year-on-year increase of 153.3%. In the second quarter, the net profit was USD 273 million, a year-on-year increase of 137% and a quarter-on-quarter increase of 17%. Meanwhile, the company announced a major open-pit mining plan, with daily production and selection capacity set to increase from 50,000 tons to 160,000 tons. Huaxin Securities believes that, considering the significant growth in the company's performance and that the prices of its primary products, gold and copper, are in an upward cycle, it maintains a "buy" investment rating.