HK Stock Market Move | JIANGXI COPPER (00358) Rises Over 5% Again, First-Half Profits Exceed Market Expectations, Morgan Stanley Points Out Copper Prices Continued to Be Supported in the Context of Tight Supply.

JIANGXI COPPER (00358) rises by over 5%, as of the latest update, it has increased by 5.44%, reaching 19.53 Hong Kong dollars, with a transaction amount of 442.619 million Hong Kong dollars. On the news front, on July 9th, JIANGXI COPPER issued a profit forecast for the first half of the year 2026. Morgan Stanley pointed out that the company is expected to increase its net profit by 81% to 104% year-on-year for the first six months of this year; excluding non-recurring gains and losses, net profit is expected to increase by 75% to 97% year-on-year. This means that the company's net profit for the second quarter is expected to be between 4.7 billion and 5.7 billion RMB, more than double the previous year, and better than the bank's expectations. Morgan Stanley expects that due to the continued tight supply of copper concentrates, copper prices will continue to be supported, and higher prices and profits from by-products should ensure a steady profit for Jiangxi Copper in the second half of the year. At the same time, the acquisition of the SolGold project will bring growth in copper and gold production, thereby driving long-term profit growth for the company. Bank of America Securities released a research report stating that JIANGXI COPPER's net profit of 8 billion RMB is significantly higher than the bank's and the market's expectations for the full-year profit forecast for 2026 at 82%/71%. The report indicates that although spot TC/RC processing fees have fallen to below negative $120 per ton due to extreme tightness in the supply of concentrates, the bank believes that the short-term impact on Jiangxi Copper's profits is still manageable.