Lingbao Gold Group Co Ltd (3330.HK) saw its shares surge 13.92% in the Tuesday trading session, as the company provided an optimistic revenue and profit outlook for the year.
The Chinese gold mining company announced that it expects revenue to range between RMB 11.59 billion and RMB 11.90 billion for the year. Additionally, Lingbao Gold forecasts its net profit to fall between RMB 617.5 million and RMB 705.7 million.
The strong guidance from Lingbao Gold seems to have boosted investor confidence in the company's growth prospects, driving the significant share price increase on the Hong Kong stock exchange.
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