HK Stock Market Move | JIANGXI COPPER(00358) A shares hit the daily limit up, H shares rose more than 9%, recently announced plans to spin off Jiangxi Copper Foil for a Hong Kong listing.

Jiangxi Copper (00358) A-shares bucked the trend and rose. As of the time of publication, A-shares were at the limit-up, while H-shares rose by 8.04% to HK$40.6 with a trading volume of HK$766 million. On the news front, the iteration and acceleration of AI servers and high-speed optical modules have driven the rapid increase in demand for HVLP4 copper foils. According to Soochow estimation, the upgrade of AI servers from H100 to NVIDIA GB200 and Rubin platforms will drive the demand for high-end copper foils for AI servers to reach 24,000 tons by 2026, a 260% year-on-year increase. It is expected to further double to 50,000 tons by 2027. It is worth noting that in May this year, Jiangxi Copper announced its plan to spin off Jiangtong Copper Foil for a listing in Hong Kong. According to Jiangtong Copper Foil's official website, the company's annual production capacity of various high-end electrolytic copper foils is 100,000 tons, including 35,000 tons for electronic circuit copper foils and 65,000 tons for lithium battery copper foils. The thickness specification range of copper foil products is from 3m to 210m, with a maximum width of 1650mm, and special performance products can be customized according to customer requirements.