HK Stock Market Move | WANGUO GOLD GP (03939) surged over 8% during the session and has doubled since early July. In the first half of the year, Jinling Mine maintained high growth.

WANGUO GOLD GP (03939) rose over 8% during the trading session, and since early July, its stock price has doubled. As of the time of writing, it increased by 7.34%, reaching HKD 15.8, with a trading volume of HKD 424 million. On the news front, WANGUO GOLD GP's interim results showed that the company achieved an operating revenue of RMB 1.86 billion in the first half of the year, a year-on-year increase of 50%; net profit attributable to shareholders reached RMB 910 million, up 51% year-on-year. Notably, the Golden Ridge Mine generated operating revenue of RMB 1.38 billion in the first half, a year-on-year increase of 43%, benefiting from both volume and price increases, and the Golden Ridge Mine continues to maintain high growth; during the period, the gross profit margin of the Golden Ridge Mine was 81%, up 5.5 percentage points year-on-year. CMSC previously released a research report stating that the company owns gold-producing mines at the Golden Ridge located in the Solomon Islands, with excellent project resource endowment. The flotation plant at the Golden Ridge Mine is being expanded from a capacity of 3.5 million tons/year to 13.5 million tons/year, with significant capacity increase. Additionally, Zijin Mining Group has become one of the major shareholders through its wholly-owned subsidiary, and the collaboration between the two parties will facilitate experience sharing and provide support in areas such as overseas mining technology and mine operations for the Golden Ridge project.