Analysis Report: Zijin Gold International (02259.HK) as a Popular Hong Kong Stock

Zijin Gold International (02259.HK) is a subsidiary of Zijin Mining Group (02899.HK) focusing on global gold asset investment, exploration, and development. It was listed on the Hong Kong Stock Exchange in 2025 [1].

Core businesses include:

• Gold Mining and Production
  : Increase production by acquiring and operating overseas gold mines (e.g., mines in Ghana, Russia, etc.);
• Global Layout
  : Operations across multiple countries to achieve resource diversification;
• Gold Trading
  : Involving processing, smelting, and trading;
• Other Metal Mining
  : Production of associated metals such as copper and zinc.

• Market Cap
  : Approximately HK$35.9165 billion (current share price: HK$134.2) [1];
• P/E Ratio
  : 57.35x, Profit Margin: 21.97% [1];
• Stock Performance
  : Year-to-date return of 20.36%, 52-week price range: HK$111-HK$158.9 [1];
• Analyst Ratings
  : Average target price of HK$164.56, indicating upside potential [1].

• Parent Company Support
  : A subsidiary of Zijin Mining Group (02899.HK) with a complete industrial chain;
• Recent Developments
  :
  • Stable price period ended on October 25, 2025, with Morgan Stanley Asia as the stabilisation agent [2];
  • Included in the list of eligible securities for Stock Connect on November 16, 2025, providing access to southbound capital allocation [3];
• Financial Stability
  : Strong balance sheet supporting continuous expansion;
• ESG Advantages
  : Gold as an inflation-resistant asset aligns with the global trend of central bank reserve diversification.

• Gold Price Volatility
  : Earnings are significantly affected by gold prices;
• Overseas Political Risks
  : Operations across multiple countries need to address geopolitical and regulatory risks;
• Cost Inflation
  : Rising mining costs may squeeze profit margins;
• Liquidity Risk
  : Stock price may fluctuate after the lock-up period of cornerstone investors ends.

Zijin Gold International is a subsidiary of Zijin Mining Group (02899.HK), focusing on international gold asset operations. The two companies develop synergistically but are listed independently.