On May 21, Zhaojin Mining fell 3.08% in regular trading, trading at 21.40 HKD/share, with trading volume of approximately HKD 399 million. The stock has continued its decline since mid-May amid multiple headwinds.

On the news front, the company's wholly-owned subsidiary Zhaoyuan Jintingling Mining suffered an underground accident on May 13 resulting in 3 deaths and 2 injuries — the second fatal incident this year following a February shaft accident that killed 7. As required by local emergency authorities, all production mines in the Zhaoyuan region have been shut down for comprehensive safety inspections, raising concerns over near-term gold output disruption and potential delays to expansion projects.

Additionally, the company announced on May 19 that Chairman Jiang Guipeng has resigned, with Wang Leyi appointed as new Chairman and President, adding management transition uncertainty. On the industry level, international gold prices have weakened below the USD 4,500 psychological threshold, dragging down the broader gold sector. Within the Gold sector, ZIJIN MINING fell 0.31%, SD GOLD fell 2.16%, CHIFENG GOLD fell 1.71%, while LINGBAO GOLD rose 4.22%.

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