HK Stock Market Move | LYGEND RESOURCE (02245) rose more than 6% with a first quarter net profit of about 1.2 billion yuan. Changes in Indonesian nickel mining policies have no impact on normal operations.

LYGEND RESOURCE (02245) rose by more than 6%, reaching 6.41% as of reporting, at 12.45 Hong Kong dollars, with a turnover of 226.846 million Hong Kong dollars. On the news front, recently, LYGEND RESOURCE announced that from January to March 2026, benefiting from the continuous production of KPS production lines, the company's operating scale continued to grow. As of the end of March 31, 2026, the company recorded operating income of about 10.5 billion yuan (approximately 57.9% of the operating income recorded in the six months ended June 30, 2025, which was about 18.15 billion yuan), and a net profit attributable to the parent company owner of about 1.2 billion yuan (close to the net profit attributable to the parent company owner recorded in the six months ended June 30, 2025, which was about 14.3 billion yuan). In addition, LYGEND RESOURCE announced that the market is concerned about the policy changes in the benchmark price of nickel mines in Indonesia and the impact of these policy changes on the company. The company stated that its production and operations are currently running smoothly, and all businesses are progressing steadily. Minmetals Securities believes that in the short term, disturbances in the Indonesian policy drive a tight situation in nickel mines, coupled with a shortage of sulfur leading to a general reduction in the operating rate of Indonesian MHP smelters in April. The trend of refining nickel accumulations is expected to slow down, or even possibly lead to a temporary de-stocking phase, thereby supporting a strong nickel price trend.