Lingbao Gold's stock plummeted 5.06% intraday on Thursday, reflecting significant selling pressure during the trading session.

The decline occurred amid broad weakness in the gold sector, with spot gold recently falling below $4,630 per ounce after retreating from highs above $5,000. Geopolitical uncertainty surrounding US-Iran negotiations and disruptions in the Hormuz Strait weighed on sentiment, while high oil prices near $104 per barrel intensified inflation concerns. Additionally, market expectations for Federal Reserve rate cuts have cooled ahead of the final press conference by outgoing Fed Chair Powell.

Company-specific factors amplified the downward move. Lingbao Gold recently completed a placement of approximately 29.82 million new H-shares, raising net proceeds of HK$771 million, while convertible bonds were concentrated in conversion during late March. These events significantly expanded the free float, making the stock more susceptible to downside pressure relative to its peers in the gold sector.