HK Stock Market Move | CHINA QINFA (00866) rose nearly 15% again, expecting after-tax profit for the first half of the year to be no more than 290 million yuan.

CHINA QINFA (00866) has risen nearly 15% again, and as of the time of writing, it is up 10.83%, trading at HKD 1.995, with a transaction volume of HKD 10.11 million. In terms of news, CHINA QINFA recently announced that it expects to record a profit of no more than RMB 290 million after tax for the first half of the year, with a profit after tax from continuing operations of RMB 31 million. The anticipated growth is primarily attributed to the increase in average coal sales prices, higher output of raw coal and washed coal, a reduction in foreign exchange losses, and gains from changes in provisions. Guosheng previously released a research report stating that the company, as a pure overseas coal producer, has market-based pricing for its products, unaffected by domestic long-term contract mechanisms, allowing it to fully benefit from the high elasticity brought by fluctuations in global seaborne coal prices. Against the backdrop of the Indonesian government tightening RKAB quotas, which may compress overall production, the company, as a compliant large mine, is not only less affected but is also expected to benefit from the increase in industry concentration and gain a larger market share.