Movement Alert|JIANGXI COPPER Rises 3.26% in Regular Trading, Spin-off of Copper Foil Unit for HK Listing Advances Alongside Strong Earnings Outlook

Market Focus07-23 10:03

On July 23, JIANGXI COPPER rose 3.26% in regular trading, trading at HK$35.98/share, with turnover of HK$75.70 million.

On the news front, the company continues to advance the spin-off of its controlled subsidiary Jiangxi Copper Foil Technology for a separate listing on the HKEX main board. An extraordinary general meeting along with A-share and H-share class shareholder meetings are scheduled for August 7 to vote on the proposal. The initial share issuance will not exceed 15% of total share capital post-offering, with the company retaining control of the copper foil unit after completion.

Additionally, the company previously issued a positive profit alert for H1, projecting net profit attributable to shareholders of RMB 7.55 billion to RMB 8.5 billion, representing year-on-year growth of 81% to 104%. Institutional research notes that copper stocks are currently in a phase of low valuations and high earnings resilience, with a mispricing repair window now open. The board will review interim results on August 25.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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