HK Stock Market Move | XINXIN MINING(03833) rises by over 9% with revised nickel ore pricing formula implemented, company's electrolytic nickel sales volume increased by over 25% last year.

XINXIN MINING (03833) rose more than 9%, rising 9.22% to HK$2.37 as of the time of writing, with a turnover of HK$286.914 million. On the news front, according to news from My Steel, on April 13, Indonesia's ESDM held a meeting to revise the benchmark price (HPM) for Indonesian nickel mines, increasing the correction coefficient (CF) for 1.6% grade nickel ore from the original 17% to 30%, and stipulating that for every 0.1% increase/decrease in nickel grade, the coefficient will decrease/increase by 1%. CITIC Futures believes that the adjustment of nickel ore pricing method landing exceeded expectations, providing stronger support to the cost side of the nickel industry chain than previously expected. It is expected that nickel prices will continue to maintain a strong trend, but the upside may be somewhat suppressed by high inventories. Continued attention is needed for the actual inflection point of inventories. XINXIN MINING previously released its annual performance, with operating income of RMB 25.61 billion, a year-on-year increase of 11.7%; net profit attributable to the company's shareholders was RMB 194 million, a year-on-year increase of 5.6%. The growth was mainly due to increased sales volume and price increases of products such as electrolytic nickel, cathode copper, precious metal materials, electrolytic cobalt, and sulfuric acid. In particular, the sales volume of electrolytic nickel in 2025 is estimated to be approximately 12,585 tons, an increase of about 25.9% year-on-year.