HK Stock Market Move | CMOC Group Limited (03993) rose more than 7%. The cathode copper production of KFM in February reached a record high for a single month. The net profit for last year is expected to increase by 72.12%.

CMOC Group Limited (03993) rose by more than 7%, with a 7.11% increase to HK$6.33 as of the time of publication, with a transaction amount of HK$649 million. On the news front, CMOC Group Limited recently disclosed on its official Weibo account that in February, KFM continued its strong performance from January, achieving a record high in cathode copper production for a single month since its establishment. In that month, the daily processing capacity of the KFM ball mill remained stable at over 20,000 tons, and various key indicators demonstrated the efficient production organization and technological achievements behind the company. CMOC Group Limited previously announced a profit forecast, predicting a net profit attributable to shareholders of RMB 12.8 billion to 14.2 billion for fiscal year 2024, a year-on-year increase of 55.15%-72.12%. This is mainly due to a significant increase in the sales volume of copper and cobalt products, coupled with a year-on-year increase in copper product prices, as well as cost reduction and efficiency improvement measures, leading to a year-on-year profit increase for the company. It is worth mentioning that the prices of non-ferrous metals have mostly risen recently, with the international copper price accumulating a more than 16% increase year-to-date, influenced by potential US tariff policies and China's economic growth targets. EB SECURITIES previously stated that they continue to be optimistic about the upward trend in copper prices in 2025. The bank believes that the market has gradually priced in concerns about a strong US dollar and tariffs since the inauguration of Trump, and the impact of policies such as tariffs is expected to weaken with their actual implementation. Global refined copper production growth rate is expected to slow down in the first half of 2025, with stable demand from the power grid and record high production of Chinese household air conditioners in the first quarter of 2025, indicating a possible upward trend in copper prices in the future.