** Shares of Zhaojin Mining Industry 1818.HK jump 8.4% to HK$20.5, their highest since debut in December 2006
** The Chinese gold miner said its Q1 net profit jumped 198% y/y to 659.2 mln yuan ($90.29 mln) and revenue up 53.5% y/y at 3.04 bln yuan
** Citi maintains "Buy" on the stock, says profit rise is mainly due to increasing gold price amid higher self-produced mine gold output
** "As a pure gold producer, we believe Zhaojin will benefit from hiking gold price," Citi said, adding for 5% increase in average gold price Zhaojin’s net profit is estimated to increase 10% in 2025E
** Hang Seng Commerce & Industry Index .HSNC eases 0.7%, Hang Seng Index .HSI slips 0.5%
** Stock up 85.7% YTD
($1 = 7.3012 yuan)
(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))
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