Shandong Gold Mining Co., Ltd. (01787) surged more than 5% in morning trading. As of press time, the stock was up 4.80%, quoted at HK$19.42, with a turnover of HK$181 million.
The company announced an adjustment to its 2026 production and operation plan, revising its mineral gold output target from no less than 49 tonnes to 36-38 tonnes. The adjustment was attributed to safety self-inspections following industry safety accidents in the first half of the year, which affected production, as well as increased efforts in domestic mine infrastructure construction in the second half.
BOCI stated that after incorporating the company's updated production guidance, it has lowered its 2026 core earnings per share forecast by 22%. Although the company currently expects a decline in net profit for 2026, performance is expected to achieve strong growth in 2027 as production returns to normal. The bank reiterated its "Buy" rating on Shandong Gold Mining Co., Ltd. and lowered its target price to HK$38.04.