Movement Alert｜CHINFMINING Falls 5.05% in Regular Trading, Profit Growth Forecast Overshadowed by Sector Weakness

Market Focus10-23

On October 23, CHINFMINING fell 5.05% in regular trading, with the stock trading at HK$12.01 and turnover of HK$34.89 million.

The latest company update showed expected attributable profit of about $634 million for the first nine months, up 78% year on year, mainly driven by higher global copper prices and stronger sulfuric acid selling prices, but the stock still came under pressure as copper names broadly weakened.

For January to September, copper cathode output fell 3% to 104,961 tonnes, blister copper and copper anode production declined 9% to 280,636 tonnes, sulfuric acid production dropped 8% to 727,297 tonnes, and cobalt output fell 71% to 199 tonnes. Sector sentiment was also soft, with JIANGXI COPPER down 4.18%, JINCHUAN INTL down 3.42%, and CDAYENONFER down 4.63%, indicating the earnings-positive update did not offset pressure on copper equities.

(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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