HK Stock Market Move | MMG (01208) surged nearly 5%, with first-half profit increasing more than 15 times year-on-year. Institutions expect full-year net profit to increase on a quarter-on-quarter basis.

MMG (01208) rose by nearly 5%, as of the time of publication, it was up by 4.59% to 4.79 Hong Kong dollars, with a trading volume of 71.5726 million Hong Kong dollars. On the news front, MMG announced its interim results, with revenue of USD 2.817 billion in the first half of the year, a year-on-year increase of 47%; the attributable profit to equity holders of the company was USD 340 million, a year-on-year increase of 1511%. The revenue growth was mainly due to increased sales volume and rising commodity prices. Profit growth mainly benefited from the overall increase in copper production from its three copper mines, rising prices in the copper, gold, silver, and zinc markets, and a decrease in unit costs at Las Bambas. China International Capital Corporation released a research report stating that it is expected that the company's net profit in the second half of 2025 will increase by 4% half-yearly. It is conservatively assumed that its copper production will decrease by 10% half-yearly, with Las Bambas copper production expected to decrease by 20% based on its annual guidance midpoint. The company left sufficient buffer space in the guidance in June and early July due to mining-related road closures. If operations do not suffer further interruptions, the mine's annual production is expected to exceed 400,000 tons.