On June 12, China Nonferrous Mining rose 4.18% in regular trading, trading at HK$14.0/share with turnover of HK$4.7513 million, extending its recovery following last week's sharp selloff.
The rebound is supported by strong fundamental catalysts. Board Chairman Xiao Bo recently disclosed that Q1 attributable net profit surged 63% year-over-year to a record high for the period. The company's proprietary mines produced 143,100 tonnes of copper, contributing 59.1% of total profit, with cathode copper gross margin reaching 47.8% and overall gross margin improving from 27.5% to 31.1%. Management outlined a strategic goal of exceeding 300,000 tonnes per annum in proprietary mine copper output by the end of the 15th Five-Year Plan period.
Within the Copper sector, the broader group showed recovery momentum. Among peers, Jiangxi Copper rose 5.55%, Jinxun Resource gained 4.69%, while CDAYE Nonferrous, Jinchuan International, and CMRU were flat. The sector bounce follows a steep correction on June 8 when copper stocks sold off sharply after US non-farm payroll data triggered surging Fed rate hike expectations.
(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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