HK Stock Market Move | CHINA QINFA (00866) rose more than 6% in the closing session, purchasing shares and increasing holdings simultaneously. The company has high confidence in the production capacity and profitability of Indonesia.

China Qinfa (00866) rose by over 6% at the close of trading. As of the time of writing, it had risen by 4.15% to 2.01 Hong Kong dollars, with a trading volume of 53.6185 million Hong Kong dollars. On the news front, on May 21, China Qinfa announced that a major shareholder of the company and several executive directors had purchased additional shares in the company through market acquisitions on May 21, 2026. Details of the share purchases are as follows: Mr. Xu Jihua, a major shareholder of the company, purchased 5.1 million ordinary shares; Executive Director Mr. Bai Tao purchased 1 million shares; and Executive Director Mr. Zhai Yifeng purchased 1 million shares. Guosheng believes that the combination of share purchases and secondary market acquisitions aligns the interests of executives with long-term shareholders, demonstrating confidence in the company's Indonesian production capacity and profit potential. Guosheng further points out that according to cctd predictions, the implementation of Indonesia's state-owned enterprise monopoly policy combined with supply scarcity resulting from production capacity controls may lead to an upward movement in the FOB price of Indonesian coal. This may not necessarily be negative for China Qinfa's positioning in Indonesia. The bank believes that the core purpose of the policy is to promote compliance and high-quality development in the coal industry, crackdown on non-compliance and gray-area profiteering, with limited impact on companies engaged in long-term compliant operations, thereby creating a positive impact. With industry supply contracting, coal price center moving up, and accelerated exit of non-compliant small and medium-sized mines, the company is expected to further increase its market share and profit elasticity in the Indonesian coal market.