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An update from Tongguan Gold Group Ltd. ( (HK:0340) ) is now available.
Tongguan Gold Group Ltd. has announced a significant increase in its financial performance for the year ending December 31, 2024, with a 7% rise in revenue to approximately HK$1,605 million and a 250% increase in net profit to approximately HK$210 million compared to the previous year. This growth is attributed to higher average selling prices and increased sales volume of mine-produced gold, particularly from the acquisition of Grand Gallant Investments Limited. However, the company faced challenges in Tongguan County due to the suspension of operations for new construction, affecting sales volume.
More about Tongguan Gold Group Ltd.
Tongguan Gold Group Ltd. operates in the mining industry, focusing primarily on the production and sale of gold. The company has operations in Subei County and Tongguan County, with a market focus on increasing its gold production and sales.
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €365.5M
For an in-depth examination of 0340 stock, go to TipRanks’ Stock Analysis page.