Amid a historic bull run in gold prices, GT GOLD (08299), a rising star in Hong Kong’s gold sector, has unveiled interim results that underscore its robust growth potential. On November 12, the company reported its financial performance for the six months ending September 30, 2025. Revenue surged 103.62% year-on-year to HK$1.095 billion, while gross profit soared 131.4% to HK$115 million, yielding a 10.5% gross margin. Net profit attributable to shareholders skyrocketed 201.12% to HK$42.777 million.
GT GOLD and its subsidiary, Taizhou Mining, specialize in gold exploration, mining, ore processing, and smelting, with core products including gold concentrate and gold bars. As of March 2025, the company’s proven and controlled resources totaled 5.404 million tons, containing 32.98 tons of gold, with inferred resources of approximately 4.09 tons. At a cut-off grade of 1.7 grams per ton, its recoverable reserves stand at 25.4 tons.
The stellar financial performance reflects both favorable external conditions and GT GOLD’s strategic focus on gold operations. Gold prices have repeatedly hit record highs in 2025, driven by central bank purchases, U.S. tariff policy shifts, geopolitical tensions, physical shortages, and a sell-off in U.S. Treasuries. By end-September, London spot gold reached $3,825.30/oz (up 44.65% YTD), while Shanghai Gold Exchange’s Au9999 closed at ¥871.86/gram (up 42% YTD), outperforming most global assets.
GT GOLD’s growth was further fueled by capacity expansion. In August 2023, the company acquired a full gold refining line with a daily capacity of 300 tons of gold concentrate at full utilization. With this facility nearing design capacity, earnings potential has been unlocked.
Looking ahead, GT GOLD aims to boost production by optimizing existing mines and pursuing acquisitions. During the reporting period, Taizhou Mining completed 25,718 meters of tunneling, 2,057 meters of ramp development, and other infrastructure upgrades, with technical upgrades on track to lift output.
The company is also actively scouting M&A opportunities. After raising HK$274 million in October 2025, GT GOLD plans to allocate most proceeds to acquisitions, which could significantly enhance its resource base. Concurrently, it is expanding exploration in key areas like the Xiaoqinling low-altitude and deep-layer deposits, partnering with Northwest University and Shaanxi Geological Mining Group for targeted drilling.
Beyond mining, GT GOLD is diversifying into AI-driven mining models via a joint venture with a leading industrial AI developer and SRK Consulting China Ltd. It also plans to launch live-streamed gold jewelry e-commerce to tap direct consumer demand.
On the capital markets front, GT GOLD has applied for a main board listing in Hong Kong, meeting most transfer requirements. With potential acquisitions and operational upgrades, the company is poised to solidify its position as a high-potential player in the gold sector.