HK Stock Market Move | CHINA QINFA (00866) rises nearly 8% again, with earnings in the first half not exceeding 290 million yuan. Indonesia plans to establish a commodity exchange.

CHINA QINFA (00866) has risen nearly 8% again, and as of the time of publication, it is up 5.34%, trading at HKD 2.07, with a transaction volume of HKD 9.9126 million. On the news front, CHINA QINFA recently announced that it expects to record a profit after tax of no more than RMB 290 million for the first half of the year; the profit after tax from continuing operations is RMB 31 million. The anticipated growth is mainly attributed to the increase in average coal sales prices, higher production of raw coal and washed coal, a reduction in foreign exchange losses, and gains from changes in provisions. It is worth noting that on August 18, a spokesperson for the Indonesian President stated that Indonesia plans to establish a "Mineral and Strategic Commodity" exchange, which is expected to cover palm oil, nickel, and coal. The Indonesian government is actively preparing for this and plans to officially launch the exchange on January 1 of next year. According to public information, CHINA QINFA is the largest underground coal mining operator in Indonesia.