CHINAGOLDINTL (02099) surged over 5% during intraday trading, reaching a high of HK$84.15 and setting a new historical record. As of press time, the stock was up 3.90% at HK$82.65, with trading volume of HK$93.07 million.

CHINAGOLDINTL recently released its 2025 interim results, reporting sales revenue of $580 million, up 178.36% year-over-year; mining operating profit of $277 million, up 1,443.71% year-over-year; and shareholders' profit of $200 million, compared to a shareholders' loss of $31.674 million in the same period last year, representing a turnaround from loss to profit. The announcement noted that the average realized gold selling price increased 35% from $2,285 per ounce in the first six months of 2024 to $3,094 per ounce in the corresponding period of 2025. The Changshantou mine achieved gold sales of 52,893 ounces (gold production: 45,829 ounces), compared to 39,951 ounces (gold production: 40,257 ounces) in the same period of 2024.

Industrial Securities Co.,Ltd. believes that with rising expectations for Federal Reserve interest rate cuts, the medium to long-term outlook favors higher price levels for gold and copper. The Changshantou gold mine has returned to stable production, while the Jiama mine is planning to commission its Phase III tailings facility in H1 2027 and is working to increase its mining permit capacity, with production expected to recover to pre-tailings overflow levels. Guosen Securities noted that considering the company's gold and copper product portfolio, abundant resource reserves, and steady production growth, it assigns a 2025 valuation target of 12-13 times, representing approximately 18%-28% upside potential from current stock prices, and initiates coverage with an "Outperform" rating.