CHIFENG GOLD (06693) declined over 5% in early trading. As of press time, the stock was down 3.05% to HK$32.4, with trading volume reaching HK$86.22 million.

On the news front, CHIFENG GOLD previously released its interim report. In the first half of the year, the company's mineral gold production reached 6.75 tons, representing a 10.56% decline compared to the same period in 2024. Mineral gold sales totaled 6.76 tons, down 10.91% year-on-year. Second-quarter mineral gold production was 3.42 tons, up 2.28% quarter-on-quarter.

The group updated its full-year guidance in its interim results, lowering the target from 16.7 tons to 16 tons. The company's Chief Financial Officer Huang Xuebin explained that the production shortfall was due to the Sepon mine in Laos being affected by the rainy season earlier than expected, combined with ongoing upgrade work at the domestic Wulong mine.

He indicated that the company will strive to catch up on production in the second half, with current progress being satisfactory. Production typically concentrates in the fourth quarter, and he targets 4 tons of production in the third quarter and 5 tons in the fourth quarter this year. In the long term, the company hopes to achieve stable annual production expansion of 500 to 800 kilograms.