Bank of America Securities: JIANGXI COPPER (00358) first-half profit greatly exceeds expectations, rated as "buy"

Bank of America Securities issued a research report stating that JIANGXI COPPER (00358) released a profit report, with a net profit of 7.55 to 8.5 billion RMB in the first half of 2026. The midrange is 8 billion RMB, which has exceeded the bank and market expectations for the full-year profit forecast for 2026 by 82%/71%, significantly outperforming expectations. The report points out that although spot TC/RC processing fees have fallen to below negative $120 per ton due to extremely tight concentrate supply, the bank believes that the short-term impact on Jiangxi Copper's profitability is still manageable. The bank maintains a "buy" rating with a target price of HK$43.