Jiangxi Copper’s shares jumped 12.2% to HK$40.74 on Wednesday after the company reported a near-100% surge in first-half net profit.
The Hong Kong-listed producer posted attributable net income of RMB 8.897 billion for the six months ended June 30, up from RMB 4.5 billion a year earlier. Revenue rose 19.5% to RMB 305.854 billion, while basic earnings per share reached RMB 2.58.
The company attributed the results to higher prices for copper and gold, alongside increased production volumes across its vertically integrated operations. Analysts noted that investors largely overlooked a RMB 2.9 billion asset impairment charge disclosed in the period, focusing instead on the scale of the profit growth.
The rally in Jiangxi Copper shares contributed to a broader advance in China’s non-ferrous metals sector, with peer companies in copper and base metals also posting sharp gains. The Hang Seng index in Hong Kong rose as much as 1% during the session.
