SD GOLD

Shandong Gold Mining (1787.HK) saw a strong single-session rally during the morning session, closing at HKD 20.84, up 5.09% from previous close, with the intraday high matching the closing price and the low of HKD 20.02 set early. The rise was driven by news of spot gold breaking above the USD 4,100 mark. Earnings for Q1 2026 showed a 32.72% YoY revenue growth to HKD 36.86 billion and a 49.13% YoY net profit increase to HKD 1.64 billion, with EPS of HKD 0.3288, up 53.5% YoY. Despite the strong fundamentals, the stock remains 61.73% below its 52-week high of HKD 54.45 and below its MA60 of HKD 22.052, with a YTD decline of 41.89%.

Shandong Gold opened higher in the morning session, briefly surging to HKD 19.53, down 3.69% from the previous close of HKD 20.04 as of 10:00 BJ time. The rally was driven by spot gold breaking above $4,100 overnight, with early gains exceeding 8% before profit-taking kicked in. The stock remains below its 60-day MA of HKD 22.779 by about 15%, with a YTD decline of 46.18% and a 64.55% drop from its 52-week high of HKD 54.45. However, Q1 revenue rose 32.72% YoY to HKD 36.86 billion, net profit surged 49.13% YoY to HKD 1.64 billion, and EPS increased 53.5% YoY to HKD 0.3288, providing fundamental support.

Shandong Gold Mining opened higher and rallied on July 22, closing at HKD 19.88, up 4.96% from the previous close of HKD 18.94, driven by the declaration of an interim dividend for the first half of 2026 and strong quarterly results. Net profit in Q1 2026 surged 49.13% YoY to HKD 1.639 billion, with revenue rising 32.72%, pushing EPS to HKD 0.3288, a 53.5% YoY increase. The intraday high reached HKD 19.86, representing a 22.64% rebound from the 52-week low of HKD 16.21, but still 63.49% below the 52-week high of HKD 54.45 and trading below the MA60 of HKD 23.135. Morgan Stanley previously downgraded the stock to Hold. However, earlier declines in spot gold below USD 4,000 had dragged the stock to a 52-week low.

Shandong Gold closed at HKD 18.65, up 4.89%, primarily driven by a rebound in gold prices. The stock rose from an intraday low of HKD 17.85 in the morning session, reaching a high of HKD 19.20 in the afternoon before settling, forming a 'surged and pulled back' pattern. Q1 2026 net profit surged 49.13% YoY to HKD 1.639 billion, with revenue up 32.72%, reinforcing a solid fundamental backdrop. However, Morgan Stanley recently downgraded the stock to 'Hold', and Chairman Han Yaodong resigned amid an organizational reshuffle, adding uncertainty. The stock closed 2.9% below its intraday high, with a PE of 14.71x and a PB of 2.37x.

Shandong Gold (1787.HK) opened lower and continued to decline in the morning session, closing 5.04% lower at HK$17.35, with intraday range from HK$17.86 to HK$17.35 on nearly 1.99 million shares traded. The stock failed to find support amid a weak spot gold price backdrop, following earlier sharp declines triggered by gold breaking below $4,000. Financially, Q1 2026 EPS of HK$0.3288 rose 53.5% YoY and net profit grew 49.1% YoY, yet the stock remains below its 20-day MA of HK$18.548 and 60-day MA of HK$23.763, down 51.62% YTD and 68.14% from its 52-week high of HK$54.45. Morgan Stanley recently downgraded the stock to Hold, while JPMorgan prefers copper and gold stocks in the China materials sector amid expected positive profit alerts. However, board reshuffles including the chairman's resignation may add near-term governance headwinds.