HK Stock Market Move | CNGR Advanced Material (02579) rose over 5%, with the increase in nickel prices contributing to its elasticity. Net profit attributable to shareholders in the second quarter increased by 76% year-on-year.
Zhongwei New Materials (02579) rose over 5%. As of the time of this report, it increased by 5.62%, reaching HKD 26.7, with a trading volume of HKD 10.8279 million.
CNGR Advanced Material (02579) rose over 5%; as of the time of writing, it was up 5.62%, priced at HK$26.7, with a trading volume of HK$10.8279 million.
In the news, CNGR Advanced Material announced its interim results for 2026 last night, achieving approximately RMB 33.584 billion in revenue, an increase of about 57.5% year-on-year; profit attributable to shareholders was around RMB 1.3114 billion, an increase of about 78.4%. In the second quarter, revenue was RMB 17.83 billion, a year-on-year increase of 69%, and net profit attributable to the parent company was RMB 750 million, an increase of 76% year-on-year; they proposed a cash dividend of RMB 3.8 per 10 shares (before tax).
Soochow pointed out that the Q2 precursors maintained a high shipping volume, with stable profitability increase. In addition, the rise in nickel prices contributed profit elasticity, and the company is expected to ship 5.3 million wet tons of nickel ore in the first half of the year, with a 50% stake. We estimate a net profit of about USD 20 per ton, contributing over RMB 500 million in profit for the year.
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