HK Stock Market Move | LYGEND RESOURCE (02245) rose more than 6% in the afternoon, and the A-share issuance application materials have been accepted by the Shenzhen Stock Exchange. Indonesian policy is expected to lift nickel prices.

LYGEND RESOURCE (02245) rose by more than 6% in the afternoon, with a 5.78% increase as of the time of drafting, reaching HKD 24.16, with a trading volume of HKD 45.3899 million. In terms of news, LYGEND RESOURCE announced that the company has submitted application materials for the proposed A-share issuance to the Shenzhen Stock Exchange, including the A-share prospectus (application draft), and has received an acceptance notice from the Shenzhen Stock Exchange on December 31, 2025 regarding the company's proposed A-share issuance. It is reported that LYGEND RESOURCE currently covers the complete industry chain links such as nickel ore trading, smelting production, equipment manufacturing, and sales. Guosheng released a research report stating that Indonesia controls 60% of the global nickel supply, and its supply policy directly affects the supply and demand of nickel. Nickel is one of the few non-bottomed varieties among non-ferrous metals, and it still has some time before clearing naturally. However, considering its concentration level comparable to tungsten, cobalt, antimony, and other varieties, the supply-dominant country's policy can significantly affect commodity prices. This year, Indonesia has successively implemented supply restriction policies based on its market position, aiming to raise price levels and retain more profits domestically. We believe that Indonesia's determination to control volume and stabilize prices should not be underestimated, and we are optimistic about the accelerated rebound of nickel prices.