HK Stock Market Move | CNGR Advanced Material (02579) rises over 3%; the company is planning a restructuring of Indonesian nickel mines, intending to take control of DDL and ANHI.

CNGR Advanced Material (02579) rose over 3%, up 3.02% as of press time to HK$17.39, with a turnover of HK$14.5659 million. On the news front, CNGR Advanced Material announced that on October 22, 2026, its indirectly wholly-owned subsidiary CNGR Hong Kong intends to acquire a 53.3% equity interest in HML from Evergreen for a consideration of approximately US$108 million. ANHI intends to issue up to 100 billion new ANHI shares through a rights issue, with a maximum consideration of US$463 million, and the company's indirectly wholly-owned subsidiary EEP intends to subscribe for additional ANHI shares for a cash consideration. ANHI intends to acquire a 100% equity interest in DDL from HML for a cash consideration of US$324 million. The announcement stated that the company has an urgent need to obtain control of DDL and ANHI, which will enable the company to timely obtain control of suitable nickel mine assets that are increasingly scarce and highly sought after, especially given the strategic importance of securing long-term resource reserves (currently, KS and KKU are companies engaged in nickel mining activities in Indonesia, with DDL holding 40.5% and ANHI holding 30% interests respectively, and DDL holding 40.5% and ANHI holding 34.5% interests respectively).