New stock news | Jin Xun Group passed the hearing at the Hong Kong Stock Exchange and ranks fifth among China's cathode copper producers.

According to the disclosure by the Hong Kong Stock Exchange on December 21st, Yunnan Jin Xun Resources Co., Ltd. (referred to as Jin Xun) conducted its listing hearing on the main board of the Hong Kong Stock Exchange, with Huatai International as its exclusive sponsor. The prospectus shows that Jin Xun is a leading manufacturer of high-quality cathode copper with strong influence in the Democratic Republic of the Congo (DRC) and Zambia. According to data from Frost & Sullivan, as of December 31, 2024, based on production in the DRC and Zambia, the company ranks fifth among Chinese cathode copper producers and is the only Chinese company ranking in the top five in both jurisdictions. Specifically, in 2024, the company produced approximately 16,000 tons and 5,000 tons of cathode copper in the DRC and Zambia respectively. Among private Chinese enterprises, the company ranked third in the DRC in terms of production in 2024, with a market share of 0.9%, and first in Zambia with a market share of 0.8%. The company's core business focuses on developing and supplying high-quality copper resources to meet China's huge copper demand. The company strategically expands its production capacity using Africa's abundant copper reserves, achieving deep integration of the entire industry value chain. The company has established advanced cathode copper smelting operations in the DRC and Zambia, significantly improving its economic efficiency and market position. In addition, taking advantage of the natural occurrence of cobalt in Africa's copper ore reserves, the company is actively developing downstream cobalt-related product production business, strategically positioning itself in the rapidly growing field of new energy materials. The company initially engaged in non-ferrous metal trading. After accumulating industry experience, the company started local processing and smelting of copper in Zambia and the DRC in 2017 and 2023 respectively, gradually evolving into a business model that integrates mineral processing, smelting, and non-ferrous metal trading. With long-term cooperation with suppliers, the company has a stable supply of copper raw materials. The company's business operations cover ore processing, smelting, copper product sales, and non-ferrous metal trading. Ore processing and smelting are mainly carried out at the company's local production facilities in Zambia and the DRC. In addition to a cobalt processing plant under construction in China, the company has four production facilities, including two copper smelters and a copper concentrate flotation plant in Zambia, and one copper smelter in the DRC. The company's non-ferrous metal trading business is mainly conducted through its subsidiaries in Singapore and China. During the reporting periods, the company's revenue came from: (i) production and sales of cathode copper; (ii) production and sales of copper concentrate; and (iii) trading of non-ferrous metal products. Financially, in the fiscal years 2022, 2023, 2024, and the six months ended June 30, 2024 and 2025, Jin Xun achieved revenues of approximately 637 million, 676 million, 1.77 billion, 596 million, and 964 million RMB respectively, while net profits for the same periods were approximately 83.504 million, 29.146 million, 202 million, 93.084 million, and 135 million RMB respectively.