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Zijin Gold price jumps nearly 70% on Hong Kong debut amid heated gold market
- 2025-09-30
- Business
- The Young Reporter
- By: ZHONG Xinyun、LIN XiaoyouEdited by: ZHAO Runtong、BO Chuxuan
- 2025-09-30
The international unit of a Chinese mining giant has raised almost HK$25 billion (US$3.22 billion), taking the crown as the second-largest Initial Public Offering in Hong Kong, and achieved a robust first-day performance on Tuesday amid a rising gold market. Priced at its IPO price of HK$71.59, Zijin Gold International(Zijin Gold), a subsidiary of Zijin Mining Group Co., Limited(Zijin Mining), saw a 68.5% jump to close at HK$120.6, after opening at HK$111.50 and reaching an intraday high of HK$123. Trading under code 02259, Zijin Gold sold 349 million shares globally during its IPO, with 90% of the shares allocated to international investors. The city’s investors received a 10% allocation of the total, resulting in a 240.7 times oversubscription, according to the firm’s allocation result announced on Monday. The Hang Seng Index added 0.87% to 26,855.56 as of market close. < img src="https://public.flourish.studio/visualisation/25390467/thumbnail" width="100%" alt="chart visualization" /> “In the Hong Kong capital market, pure-play-play gold mining mining listed companies are relatively scarce,” wrote Tang Yan, a risk director of Sunflower Investment, a Shanghai-based asset manager, in a written reply to the reporter. She added that what makes the company an attractive choice this scarcity for investors makes the company an attractive choice seeking gold exposure for investors seeking gold exposure. With a total of 29 cornerstone investors committing HK$12.47 billion (approximately US$1.6 billion), the company received solid support from prominent asset managers and investment giants, including GIC Private Limited, BlackRock, Schroders, UBS AM Singapore, Fidelity Hong Kong, and Millennium Management. The funds raised by the gold miner are primarily planned for the acquisition of the Raygorodok Gold Mine in Kazakhstan and the upgrade and construction of existing mines, accounting for aboutabout 33.4% and 50.1% respectively. Kenny Wen, Executive Committee Member of the Hong Kong Society of Financial Analysts, said that the …
Pop Mart shares extend rally as revenue more than doubled in 2024, driven by IP operation and globalisation strategy
- 2025-03-27
- Business
- The Young Reporter
- By: Yichun Fang、CAO JiawenEdited by: WANG Ruoshui、XIA Fan、BO Chuxuan
- 2025-03-27
Pop Mart’s annual revenue more than doubled and surpassed 13 billion yuan thanks to its IP development and globalisation strategy, according to its 2024 annual results published on Wednesday. Under code 9992, shares of the Beijing-based company climbed more than 9% to HK$ 153.7 today, following yesterday’s 10% gain. During yesterday’s midday announcement, the company reported a 106.9% increase in revenue and a 203.9% yoy surge in net profit to 3.3 billion yuan for the previous fiscal year. “Market acceptance of Pop Mart’s IPs, such as CRYBABY and THE MONSTERS, which contain a flagship product Labubu, is still very high, and unless something unexpected happens, the growth prospects for Pop Mart this year are very positive,” added Kenney Wen, head of Investment Strategy at KGI Asia. The revenue of THE MONSTERS, one of the heated IPs of Pop Mart, saw a revenue of 3.04 billion yuan, a 726.6% surge compared to last year, contributing 23.3% of the overall revenue. CRYBABY, as one of their “fast-growing emerging IPs”, also reached a revenue of 1.16 billion yuan, with a year-on-year growth rate of 1,537.2%. “Buying dolls of these IPs has become a trend-setter,” Wen said. The group’s sales are expected to grow by more than 50% year-on-year in 2025, according to Wang Ning, chairman of the board of directors of Pop Mart, who spoke at yesterday’s Annual Results Announcement. He expected the total sales to reach more than 20 billion yuan in 2025, with the overseas market accounting for more than 10 billion yuan of this total. In 2024, for the market other than Mainland China, the revenue from Hong Kong, Macao, Taiwan and Overseas increased by 375.2% from 1,066.1 million yuan in 2023 to 5,065.7 million yuan. Wang added that the company expects the North American market alone in 2025 to …