HK Stock Market Move | XINXIN MINING(03833) rose more than 15%, nickel supply tightens again, the company owns four nickel-copper mines.

XINXIN MINING (03833) rose more than 15%, closing at a 15.25% increase to HK$2.72, with a trading volume of HK$56.9274 million. On the news front, according to information from My Steel, French mining giant Eramet announced that due to the impending depletion of annual RKAB quotas, its nickel mine in Weda Bay, Indonesia, is planned to transition to a "maintenance and conservation" status in mid-May. According to Eramet's first quarter 2026 financial report, its Indonesian subsidiary WBN had an initial RKAB quota of 12 million wet tons for 2026, with an external sales limit of 9 million wet tons. This represents a sharp decline from the 42 million wet ton quota in 2025, with a reduction of over 70%. It is expected that the annual quota will be exhausted by mid-May, after which the mine will enter a maintenance and conservation state, while also applying for a quota increase. Publicly available information shows that XINXIN MINING's wholly-owned subsidiaries own the Karatongke, Huangshan East, Huangshan, and Xiangshan nickel-copper mines. The company achieved a revenue of 2.561 billion RMB in 2025, an increase of 11.7% year-on-year; net profit attributable to the company's shareholders was 194 million RMB, an increase of 5.6% year-on-year. The growth is mainly attributed to the increase in sales volume and prices of products such as electrolytic nickel, cathode copper, precious metal materials, electrolytic cobalt, and sulfuric acid.