Zhaojin Mining (HKG: 01818) shares saw an increase of more than 8% during the session. As of the latest update, the stock is up 7.09%, trading at HKD 21.46, with a turnover of HKD 334 million.

A Citi research report highlighted that the company is expected to benefit from robust production growth. The bank has raised its target price for the company from HKD 37.5 to HKD 41.4, maintaining a "Buy" rating. The report anticipates that when the situation in the Strait of Hormuz eventually eases, the macroeconomic headwinds facing gold will lessen, potentially allowing gold prices to recover from their lows. Huatai Securities previously noted that, considering the company's Haiyu project could achieve a 10-15 ton increase in mine gold production at full capacity, the significant increment points to high future growth potential for the company.