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China Gold International Extends Major Connected Deals With China National Gold to 2029
JPMorgan: Is Gold Priced at $4,600 Really Expensive?
JPMorgan pointed out that, according to the traditional model (fair value of $1,000-$1,900), gold is significantly overvalued, but this does not mean it is "wrong"—the high premium reflects a rational pricing of geopolitical risks, damaged U.S. dollar credibility, and the failure of the 60/40 portfolio. The real drivers of the rally—the "century rebalancing" of Western pension funds into gold and stagflation trades—have yet to kick in, and $4,600 may be a worthwhile "insurance premium" to pay.
China Gold (600916) 2025 & 26Q1 Review: Significant recovery in performance observed in 26Q1.
Report Summary: The company's performance will face pressure in 2025, but there will be a notable recovery in Q1 2026. An operational turning point is expected in 2026. Key investment points: Maintain an增持 rating. The company’s performance will be under pressure in 2025, with significant recovery expected in Q1 2026.
China Gold (600916): Continued revenue growth with a contraction in the number of stores.
Event: China Gold announced its 2025 annual report and the first quarter report of 2026. The company achieved operating revenue of 69.82 billion yuan in 2025, representing a year-on-year increase of 15.5%. However, net profit attributable to shareholders was 280 million yuan, marking a year-on-year decline of 66.3%.
China Gold: Annual Report 2025 of China Gold Group Gold & Jewelry Co., Ltd.
China Gold: First Quarter Report for 2026 of China Gold Group Gold & Jewelry Co., Ltd.