Why is Zijin Longking stock climbing today?

Zijin Longking's stock price climbed 1.9% to 17.55 yuan on Thursday, driven by three overseas renewable energy investments approved by the company's board the night before. Zijin Longking Clean Energy, the company's wholly-owned subsidiary, plans to develop solar and battery storage facilities at gold mines in Suriname and Guyana, with an estimated investment of $232 million.

The largest project, a phase II solar-storage facility at Suriname's Rosebel gold mine, will generate 170 megawatts of solar power and 120MW/120MWh of energy storage at a cost of roughly $150 million. Two smaller projects at the Aurora gold mine in Guyana, one for the processing plant and one for the underground mining facility, will collectively cost approximately $55 million and $27 million, respectively.

Both projects are slated for completion by the end of 2027. The initiatives aim to lower diesel-powered electricity consumption at the mine sites, aligning with Suriname's green industrial energy transition goals. Despite the solid financial performance of the company, which reported a 15% year-on-year revenue growth and a 25% increase in net profit for the first half of 2026, the broader Chinese equity market remained underperforming on the day, with the CSI 300 and SSE Composite both trading in the red.