HK Stock Market Move | JINCHUAN INTL (02362) surged over 30% upon resumption of trading, as rising copper and cobalt prices and volumes drove strong profit growth, with net profit up 7.7 times year-on-year in the first half.

JINCHUAN INTL (02362) surged over 30% this morning upon resumption of trading, rising 28.14% as of press time to HK$0.815, with turnover of HK$340 million. On the news front, in the first half of this year, JINCHUAN INTL achieved revenue of US$460 million, up 152% year-on-year; profit attributable to shareholders was US$47.816 million, up about 7.7 times year-on-year. Notably, the earnings growth was driven by rising copper and cobalt prices and volumes. In the first half, the company's copper production was 38,214 tonnes, up 37% year-on-year, mainly due to the Musonoi mine commencing operations in November 2025; cobalt production jumped from 71 tonnes in the same period last year to 4,345 tonnes. The average realized copper price was US$12,226/tonne, up 75% year-on-year. Over the same period, the average LME copper benchmark price was US$13,088/tonne, up 39% year-on-year, while the average cobalt price per Metal Bulletin was US$25.56/lb, up 94% year-on-year, mainly due to tighter supply from the Democratic Republic of Congo's cobalt export quota.