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Shareholders Should Be Pleased With Wanguo International Mining Group Limited's (HKG:3939) Price
[Brokerage Focus] Macro expectations weakening and poor demand have put pressure on copper prices. There is still a risk of prices falling in the short term.
Jingu Financial News | Zheshang International stated that overseas inflation data fell more than expected, with market expectations of a rate cut by the Federal Reserve in September, opening up room for rate cuts. In terms of spot, copper ore supply is relatively tight, processing fees have fallen to historic lows, smelter profits are under pressure, but electrolytic copper production continues to grow, and expectations of supply contraction have failed. In terms of demand, the high copper price limits downstream demand to a certain extent, end orders have not shown significant improvement yet, processing enterprises are cautious in procurement, and inventory turnover is not smooth. Overall, weak macro expectations and poor demand are putting pressure on copper prices, with short-term price downside risks still present, focusing on smelter operations.
Wanguo International Mining Reports 73% Growth in H1 Profit
Northeast Securities: Gold prices hit a new historical high, and copper prices continue to rebound.
As inflation continues to decline and the Fed manages expectations before cutting interest rates, the price of gold has hit a new historical high again.
Wanguo Mining (03939) mid-year net income increased by about 72.9% year-on-year, and plans to distribute a dividend of 12 Hong Kong cents for the interim period.
Jingu Finance News | Wanguo Mining (03939) announced its interim performance as of June 30, 2024. According to the financial report, the company's attributable net profit was approximately 0.254 billion yuan, a year-on-year increase of approximately 72.9%; basic earnings per share were approximately 30.7 cents; and a mid-term dividend of 12.00 Hong Kong cents per share was proposed. During the period, the Group's revenue was approximately 0.928 billion yuan, a year-on-year increase of approximately 59.7%. The announcement stated that the sales of gold ingots and gold concentrate had accounted for more than 50% of the Group's revenue and gross profit for the financial year ended December 31, 2023 and the six months ended June 30, 2024.
wanguo mining will distribute a mid-term dividend of 0.12 Hong Kong dollars per share on October 31.
Wanguo mining (03939) announced that it will distribute a mid-term dividend of HKD 0.12 per share for the six months ending on June 30, 2024, which will be paid on October 31, 2024.
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