HK Stock Market Move | JINXUN RESOURCE (03636) rose more than 15% on its second day of listing, increasing by over 50% compared to its IPO price. The company is a high-quality manufacturer of cathode copper.

JINXUN RESOURCE (03636) rose by over 15% on the day of its listing, reaching a high of HK$46.16, an increase of over 50% from the IPO price of HK$30. As of the time of writing, the stock had risen by 16.03% to HK$43.86, with a trading volume of HK$133 million. According to public information, JINXUN RESOURCE is a high-quality manufacturer of cathode copper. As per Frost & Sullivan data cited in the prospectus, as of December 31, 2024, based on production volumes in the Democratic Republic of Congo and Zambia, the company ranks fifth among Chinese cathode copper producers and is the only Chinese company ranked in the top five in both jurisdictions. In 2024, the company produced approximately 16,000 tons and 5,000 tons of cathode copper in the Democratic Republic of Congo and Zambia respectively. In the private enterprises in China, the company ranked third in the Democratic Republic of Congo with a market share of 0.9% and first in Zambia. The company mainly sells its cathode copper to various commodity traders in mainland China. Guotou Securities International previously commented that cathode copper is the core raw material for copper processing, which can be processed into products such as copper rods, copper pipes, and copper foil, widely used in industries such as consumer electronics, infrastructure, construction, and transportation. In terms of the industry, the global copper industry is facing a trend of supply shortages due to downstream demand from AI, new energy, consumer electronics, infrastructure, and other sectors. The company's cornerstone investors include JiaCanKe, and it has the backing of industry giants in its supply chain.