HK Stock Market Move | JINXUN RESOURCE (03636) plunges more than 20% to reach a new low post IPO. Stock market opens for six months to welcome cornerstone investors unlocking.

JINXUN RESOURCE (03636) plunged more than 20%, hitting a new low of 10.39 Hong Kong dollars, down 60% from the IPO price of 30 Hong Kong dollars. As of the time of writing, it has dropped by 20.77% to 10.64 Hong Kong dollars, with a turnover of 2.778 million Hong Kong dollars. On the news front, on July 10, JINXUN RESOURCE is approaching the end of its 6-month lock-up period since listing, and cornerstone investors' shares have officially become tradable. Data shows that a total of 15.6272 million shares have been unlocked by 8 shareholders. According to information from the Hong Kong Stock Exchange, on July 2, there was a change in the company's position, with total turnover value of 1.22 billion Hong Kong dollars accounting for 18.89%. The company's shareholders transferred 7.7822 million shares to Citibank and transferred 7.824 million shares out of Huatai Hong Kong. It is reported that the company is a leading manufacturer of high-quality cathode copper, with a strong presence in the Democratic Republic of the Congo and Zambia. According to information from Frost & Sullivan, as of December 31, 2024, based on production in the Democratic Republic of the Congo and Zambia, the company ranks fifth among mainland cathode copper producers and is the only mainland company to rank in the top five in both jurisdictions.