HK Stock Market Move | Chifeng Jilong Gold Mining (06693) rose more than 7% after officially being included in the Hong Kong Stock Connect program recently. The company has a high profit elasticity due to its exposure to gold prices.

Chifeng Jilong Gold Mining (06693) rose more than 7%, reaching a 7.75% increase by the time of writing, at HK$17.52, with a turnover of HK$77.3386 million. On the news front, according to announcements from the Shanghai and Shenzhen Stock Exchanges, due to the end of the stability period of Chifeng Jilong Gold Mining's price in the Hong Kong market and the corresponding listing on the A-share market for over 10 trading days, the list of stocks eligible for Hong Kong Stock Connect has been adjusted to include Chifeng Jilong Gold Mining, effective from April 7. Chifeng Jilong Gold Mining previously announced its financial performance for 2024, with annual operating income of 9.03 billion yuan, a year-on-year increase of 25%; and a net profit attributable to the parent company of 1.76 billion yuan, a year-on-year increase of 119.5%. Guosen pointed out that considering the company's firm pace of international development, gold production is expected to continue to grow, production costs have room to decrease, and the company enjoys a high profit margin elasticity for gold prices.