HK Stock Market Move | Zijin Mining Group (02899) opens nearly 3% higher after Yingxi, expected that half-year net profit attributable to shareholders will increase by approximately 169% year-on-year, Citigroup opens short-term positive catalysis observation.

Zijin Mining Group (02899) opened nearly 3% higher after the earnings report, with a 2.86% increase at the time of publication, reaching HKD 30.26, with a trading volume of HKD 1404.06 million. On the news front, on July 9th, Zijin Mining Group announced that the group expects to achieve a net profit attributable to the owners of the parent company of approximately USD 1.4 billion for the six months ended June 30, 2026 (reporting period), an increase of approximately USD 880 million compared to the same period last year, representing a year-on-year increase of about 169%. Citigroup's previous research report stated that the bank expects Zijin Mining Group to have a strong profit growth of over 70% in the first half of 2026. The company is expected to announce its preliminary performance in July. The planned 120,000 tons of lithium production capacity will also boost profits in the second half of the year. Furthermore, considering the attractive valuation at the moment, as well as feedback from investors suggesting an increase in shareholder returns, Citigroup also sees the possibility of more shareholder return actions in the future (such as share buybacks). Citigroup has begun to observe Zijin Mining Group as a positive catalyst for the next 30 days, expecting Zijin Mining Group to be a focus on investors' radar as the market re-evaluates its positioning in the value sector and its stock price falls by more than 30% from its previous high.