HK Stock Market Move | LYGEND RESOURCE (02245) rose nearly 6% in morning trading. The company has officially listed on the A-share market and expects net profit for the first three quarters to increase by up to nearly 60%.

LYGEND RESOURCE (02245) rose nearly 6% in morning trading. As of press time, it was up 3.14% at HK$21.04, with a turnover of HK$18.9361 million. On the news front, LYGEND RESOURCE was officially listed on the main board of the Shenzhen Stock Exchange on September 30, marking the completion of an "A+H" dual capital platform layout by this global nickel industry chain leader. LYGEND RESOURCE previously stated that it expects net profit attributable to shareholders for the first three quarters to be approximately RMB 3.15 billion to RMB 3.25 billion, up about 54.0% to 58.9% year on year; operating revenue is expected to be approximately RMB 38.0 billion to RMB 42.0 billion, up about 27.9% to 41.4% year on year. The prospectus shows that LYGEND RESOURCE started with nickel product trading and, after years of vertical integration along the industry chain, has formed an integrated business layout covering nickel product trading and the production and sales of nickel products. According to a China Insights Consultancy report, in 2024 the company ranked first globally in nickel product trading volume, equivalent to 10.4% of global nickel product market demand that year; the company is also China's largest nickel ore supplier, with a market share of approximately 35.8% that year.