Lingbao Gold's stock price plummeted 5.03% during intraday trading on Thursday, reflecting significant selling pressure in the market.

The sharp decline followed the company's announcement regarding its first-quarter performance, which revealed that substantial non-cash losses from convertible bond fair value changes and related finance costs significantly eroded core business earnings. While the company's core operations benefited from stable production, continued cost reduction efforts, and higher year-over-year gold prices, these gains were offset by approximately RMB 260 million in convertible bond fair value losses and RMB 22.1 million in related finance costs.

The company's board emphasized that these convertible bond-related losses are entirely non-cash items arising from accounting compliance, involving no actual cash outflows and not reflective of the group's underlying core operating performance. However, the substantial drag on reported profits appears to have negatively impacted market sentiment, contributing to the intraday selling pressure.