Shares of gold miner surged more than 7% in the afternoon session, with the stock last trading up 6.74% at HK$27.22, on turnover of HK$1.37 billion. The rally follows the company's release of its 2026 interim results on August 29, which showed revenue of approximately RMB 53.588 billion, down 5.6% year-on-year, while net profit attributable to shareholders rose 26.17% to around RMB 3.543 billion. Basic earnings per share stood at RMB 0.72, with a cash dividend of RMB 1.00 per 10 shares declared. During the reporting period, the company produced 19.10 tonnes of mine gold, including 6.69 tonnes from its overseas mines, up 18.03% year-on-year.

According to a research note from Soochow Securities, during the first half of 2026, SD GOLD (01787) secured 48 various certificates and related approvals. Key projects, including the Sanshandao Gold Mine, Xincheng Gold Mine, and Chifeng Chai Mine, are advancing steadily. The company expects to obtain the approval for the 15,000 tonnes per day expansion project at the Sanshandao Gold Mine by the end of September 2026, with the safety facility design approval and project construction moving forward. Meanwhile, the Osino project in Namibia is currently undergoing mill equipment installation and open-pit stripping work, with the company targeting production commencement in the first half of 2027.

Where investors should focus: The company's volume growth projects are progressing as planned, which could support future output expansion.