On July 10, Jiangxi Copper rose 3.25% in regular trading, trading at HKD 31.18/share, with turnover of HKD 65.89 million.
On the news front, the company issued a positive profit warning on July 8, forecasting first-half net profit attributable to shareholders of RMB 7.55 billion to RMB 8.5 billion, representing a year-over-year increase of 80.86% to 103.61%. The company further announced its dividend plan on July 9, distributing RMB 0.60 per share in cash, totaling approximately RMB 1.239 billion. On the same day, Bank of America Securities issued a report noting the profit alert significantly exceeded expectations and assigned a Buy rating, stating that the decline in concentrate processing fees (TC/RC falling below negative USD 120 per tonne) has controllable short-term impact on profitability.
These multiple positive catalysts have supported the stock's continued recovery following a brief pullback triggered by the retirement of former chairman Zheng Gaoqing announced on July 7.
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