CICC: Maintains Buy Rating on Zijin Mining Gold (06181.HK), Target Price at 1079.06 Hong Kong Dollars.

According to the Wisdom Capital APP, Zhongjin released a research report stating that it will maintain its EPS forecast for Lao Pu gold (06181.HK) for 2025/26 at 26.57/35.80 yuan. The current stock price corresponds to a 27/20 times PE ratio for 2025/26, maintaining an outperform industry rating with an unchanged target price of 1079.06 Hong Kong dollars, corresponding to a 37/27 times PE ratio for 2025/26. There is a 38% upside potential. The company announced its 1H25 performance, with revenue increasing by 251% year-on-year to 12.4 billion yuan and net profit attributable to shareholders increasing by 286% year-on-year to 2.3 billion yuan, meeting market expectations. The company plans to distribute an interim dividend of 9.59 yuan per share, with a dividend payout ratio of approximately 73%, marking the first interim dividend.