Shares of LYGEND RESOURCE (HKEX: 02245) rose more than 4% in afternoon trading. At the time of writing, the stock was up 3.96% to HK$13.65, with a turnover of approximately HK$29.97 million.

The catalyst for the move was recent corporate developments. On July 7th, the company successfully passed the review by the Shenzhen Stock Exchange's main board listing committee. This approval positions it as a benchmark nickel industry enterprise for an "H-share to A-share" listing following the full implementation of China's registration-based IPO system.

LYGEND RESOURCE plans to raise approximately 4.047 billion yuan through the A-share offering. The proceeds are earmarked entirely for two major industrial projects: a demonstration project for the resource utilization of wet-process slag and a Mixed Hydroxide Precipitate (MHP) refining production project. These investments are aimed at continuously expanding the company's capacity for nickel deep-processing and recycling.

Further Developments on Production Capacity

Significantly, the company announced in early June that all production lines of the KPS project, part of the second phase of its RKEF initiative, officially commenced commercial operations in May 2026. This project is a joint investment with Indonesian partners on Obi Island, Indonesia.

The KPS project comprises 12 production lines with a designed annual production capacity of 185,000 metal tonnes of ferronickel. The full-scale operation of all these lines signifies that LYGEND RESOURCE has now formally achieved a scaled annual nickel production capacity of 400,000 metal tonnes.