Jinchuan International (02362) resumed trading this morning and surged more than 30%, last up 28.14% at HK$0.815, with turnover of HK$340 million.

On the news front, in the first half of this year, Jinchuan International 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 stemmed from rising volumes and prices of both copper and cobalt. 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 to 4,345 tonnes from 71 tonnes in the same period last year.

The average realized copper price was US$12,226 per tonne, up 75% year-on-year. Over the same period, the LME copper average benchmark price was US$13,088 per tonne, up 39% year-on-year, while the Metal Bulletin cobalt average price was US$25.56 per pound, up 94% year-on-year, mainly due to tightened cobalt export quotas from the Democratic Republic of the Congo restricting supply.