Chifeng Gold Hits Record High, Q1 Net Profit Up 104%
Chifeng Gold shares hit a record high in intraday trading, rising 3.68% to RMB 51.25 with a turnover of RMB 2.472 billion. The company reported a 104.43% year-on-year increase in first-quarter net profit to RMB 988 million, with revenue up 47.65% to RMB 3.554 billion. The broader nonferrous metals sector rose 1.24%, while the stock's margin financing balance declined 1.29% over the past 10 days.
Chifeng Gold shares hit a record high during intraday trading. As of 10:06 a. m. , the stock was up 3.68% at RMB 51.25, with trading volume of 50.0277 million shares and turnover of RMB 2.472 billion, representing a turnover rate of 3.01%. The latest A-share total market capitalization reached RMB 85.275 billion, with the free-float market capitalization also at RMB 85.275 billion.
The nonferrous metals sector rose 1.24% overall, with 79 stocks advancing. The top gainers included Baiyin Nonferrous, Rongjie Co. , and Shengda Resources, rising 10.02%, 10.00%, and 7.54%, respectively. Meanwhile, 61 stocks declined, with the biggest losers being Sirui New Materials, Xinlaifu, and Changyu Group, down 4.71%, 4.36%, and 3.84%, respectively.
Margin trading data show that as of the latest date (August 21), the stock's margin balance stood at RMB 1.17 billion, of which financing balance was RMB 1.12 billion, down RMB 14.6155 million over the past 10 days, a decrease of 1.29%. The company's first-quarter report shows revenue of RMB 3.554 billion, up 47.65% year-on-year, net profit of RMB 988 million, up 104.43%, basic earnings per share of RMB 0.52, and weighted average return on equity of 7.13%.