On September 14, Zijin Gold International Co., Ltd. (hereinafter referred to as “Zijin Gold International”) passed the Hong Kong stock IPO hearing, with Morgan Stanley and CITIC Securities as their joint sponsors.

It is worth mentioning that Zijin Gold International is rumored to start its IPO this week, with a target valuation that may exceed US$30 billion. Previously, according to IFR, a subsidiary of Reuters , the fundraising scale of Zijin Gold International increased from US$2 billion to US$3 billion. Calculated by this amount, it is expected to become the second largest Hong Kong stock IPO this year since CATL .

Zijin Gold International is one of the gold mining companies integrated by all Zijin Mining’s gold mines (except China). With Zijin Mining’s competitive management advantages in low-grade difficult-to-finish resources exploration, development and operation, the company has become a gold mining company, mainly engaged in gold exploration, mining, ore dressing, smelting, refining and sales.

According to the prospectus, from 2022 to 2024 and the first half of 2025, Zijin Gold International achieved revenues of US$1.818 billion, US$2.262 billion, US$2.99 ​​billion and US$1.997 billion, respectively; the annual/period profit attributable to the parent company owners was US$184 million, US$230 million, US$481 million and US$520 million, respectively.

As of the last feasible date, the company holds interests in gold resource-rich areas such as Central Asia, South America, Oceania and Africa. According to Frost & Sullivan’s data, its gold reserves and gold output in 2024 ranked ninth and eleventh in the world respectively as of December 31, 2024 and 2024.