In-depth Analysis of Hong Kong Hot Stock Zijin Gold International (02259.HK)

1. Stock Basic Overview
   : Zijin Gold International (02259.HK) is a subsidiary of Zijin Mining (02899.HK), listed independently on September 30, 2025, integrating all overseas gold mine assets of the parent company. The current stock price is HKD153.700, with a Hong Kong market capitalization of HKD411.4 billion [0].
2. Hot Driving Factors
   : The company has become a hotspot mainly driven by multiple factors: First, the international gold price is approaching the all-time high of 4500 USD/oz, driving the strength of the gold sector [0]; Second, strategic expansion continues—completed the acquisition of the Raygorodok gold mine in Kazakhstan in October 2025, with gold production expected to increase from 50 tons in 2025 to 65 tons in2027, a CAGR of13% [2]; Third, institutions gave positive ratings—HSBC Research initiated coverage with a “Buy” rating and a target price of HKD178 [4]; Fourth, technical indicators show bullish signals like “cup and handle breakout” [5].
3. Price and Volume Performance
   : Recently, the stock has a5-day gain of +4.863% and a10-day gain of +2.905%. The turnover on December24,2025, was HKD170.54 million, which is lower than the5-day average volume but still active [0][5].

1. Gold Price and Stock Price Correlation
   : As a “magnifier” of gold prices, the stock price performance of Zijin Gold International is highly correlated with gold price trends. The sustained rise in gold prices brings expected performance elasticity to the company [1].
2. Consensus Between Institutions and Southbound Funds
   : Institutions like HSBC and BNP Paribas gave positive ratings, and Southbound funds continued to increase positions, indicating domestic and foreign investors’ recognition of the company’s long-term development prospects [0][4].
3. Technical Indicators and Sentiment Resonance
   : Technical signals like “cup and handle breakout” and “golden cross” resonate with increased social media attention, further boosting bullish sentiment in the market [5].

• Opportunities
  : Expected sustained rise in gold prices, implementation of production growth plans, upside potential from institutional target prices, etc. [3][4].
• Risks
  : Risk of sharp fluctuations in gold prices, high valuation risk (current P/E ratio of110.1x is far higher than the industry average), political and legal risks of overseas operations, pressure from restricted stock lock-up expiration, etc. [0][3].

Zijin Gold International (02259.HK), as a popular gold stock in the Hong Kong market, has strong fundamental support and market attention. However, investors need to carefully evaluate risks like gold price volatility, overvaluation, and overseas operations. Regarding key price levels: resistance levels are the52-week high of HKD158.900 and institutional target price of HKD178; support level is the8-week volatility low of HKD122.00 [0][3][5].