HK Stock Movement | CNGR (02579) Rises Nearly 8% as Indonesia Plans to Tighten Nickel Supply; Higher Self-Sufficiency Ratio Expected to Boost Profit Flexibility

Stock News2025-12-23

CNGR (02579) surged nearly 8%, reaching HK$28.7 by the time of writing, with a trading volume of HK$70.33 million. The rally follows reports that Indonesia's government has set a nickel production target of approximately 250 million tons for 2026 under its work plan and budget, nearly one-third lower than the 379 million tons targeted for 2025.

CNGR recently stated on an interactive platform that, in line with its vertical integration strategy, the company has made strategic investments in upstream nickel, phosphorus, and lithium resources globally since 2022. These include laterite nickel mines in Indonesia, lithium salt lakes in Argentina, and phosphate mines in Guizhou.

Dongwu Securities previously noted that increasing the self-sufficiency ratio in nickel could enhance profit flexibility. By 2026, the firm expects CNGR to achieve self-supply of 30,000 metric tons of nickel metal, covering over 25% of its needs, potentially boosting profits by RMB 200-300 million. Additionally, even a modest rise in nickel prices could significantly improve earnings.

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