Core Viewpoint - The stock of Liqin Resources (02245) has surged over 9%, reaching a new historical high of 20.44 HKD, driven by changes in cobalt export policies in the Democratic Republic of Congo (DRC) [2] Group 1: Company Performance - Liqin Resources' stock price increased by 9.23%, trading at 20.36 HKD with a transaction volume of 58.74 million HKD [2] - The company benefits from rising cobalt prices due to supply constraints, as its nickel production capacity is located in Indonesia and is not affected by DRC's export restrictions [2] Group 2: Industry Context - The DRC government updated its cobalt export policy, extending the export ban to October 15, 2025, and limiting export quotas for 2026-2027 to 44% of annual production [2] - According to CITIC Securities, the DRC's export quota policy is expected to lead to a significant global cobalt supply shortage, with shortfalls of 122,000 tons, 88,000 tons, and 97,000 tons for the years 2025, 2026, and 2027 respectively [2] - Minsheng Securities believes that the DRC government is determined to support cobalt prices, indicating a likely shift towards a quota system and a clear upward trend in cobalt price levels [2]

Group 1 - The core viewpoint of the article highlights that Liqin Resources (02245.HK) has seen a significant increase in its stock price, rising over 9% and reaching a new historical high of 20.44 HKD during trading [1] - As of the report, the stock is up 9.23%, trading at 20.36 HKD, with a trading volume of 58.74 million HKD [1]

Group 1 - The stock of Liqin Resources (02245) has increased by over 9%, reaching a new historical high of 20.44 HKD during trading [1] - As of the latest update, the stock is trading at 20.36 HKD with a transaction volume of 58.74 million HKD [1] Group 2 - The government of the Democratic Republic of Congo updated its cobalt export policy on September 20, extending the cobalt export ban to October 15, 2025 [1] - From 2026 to 2027, the cobalt export quota will be limited to 44% of annual production [1] - CITIC Securities predicts that the export quota policy will lead to significantly lower global cobalt supply from 2025 to 2027, with supply shortages of 122,000 tons, 88,000 tons, and 97,000 tons respectively [1] Group 3 - Minsheng Securities believes that the Congolese government's firm stance on supporting cobalt prices indicates a high likelihood of implementing a quota system, leading to a contraction in supply and an upward shift in cobalt prices [1] - The company's wet-process nickel production capacity is located in Indonesia, which is not affected by the Congolese export restrictions, allowing it to fully benefit from the rising cobalt prices [1]

Group 1 - Hong Kong's Hang Seng Index fell by 0.97%, down 254 points, while the Hang Seng Tech Index dropped by 2.2% with a trading volume of 165.2 billion HKD in the morning session [1] - Congo has extended its cobalt export ban, leading to a rise of over 8.9% in the stock price of Liqin Resources (02245) [1] - Cloudwise Technology (01037) surged by 79% due to potential collaboration with UBTECH [1] - Kaizhile International (02122) saw a more than 12% increase after partnering with Pokémon IP to enter the collectible card game market [1] - HuiLiang Technology (01860) rose nearly 4.76% to a new high, driven by rapid growth from its smart bidding products, with institutions optimistic about the company's growth potential [1] - Shanggao Holdings (00412) increased by over 14%, maintaining normal business operations and announcing a buyback plan of up to 100 million USD [1] - Dazhong Public Utilities (01635) rose by 6.6%, with the company holding shares in Shenzhen Capital Group, and Moer Thread's IPO on the Sci-Tech Innovation Board is set to be reviewed [1] - Datang Gold (08299) surged over 20% in the morning after raising over 270 million HKD through a placement, with the controlling shareholder of Wanguo Gold Group becoming the second-largest shareholder [1] - Hong Kong Broadband (01310) rebounded over 17%, as its controlling shareholder, China Mobile Hong Kong, plans to place existing shares, and the company aims to meet public holding requirements promptly [1] - Solar stocks collectively declined, with institutions indicating that domestic polysilicon prices remain high and the supply-demand relationship in the industry has not significantly improved. New Special Energy (01799) fell by 4.18%, Flat Glass Group (06865) dropped by 4%, Xinyi Solar (00968) decreased by 2.6%, and Xinyi Energy (03868) fell by 3% [1] Group 2 - Airline stocks collectively declined due to unexpectedly weak demand for public transportation during the summer travel season, with institutions suggesting to monitor the sustainability of public transport recovery and avoid excessive competition. China Southern Airlines (01055) fell by 4.93%, Air China (00753) dropped by 3.98%, and China Eastern Airlines (00670) decreased by 2.27% [2]

Core Viewpoint - The Democratic Republic of the Congo (DRC) will extend its ban on cobalt exports, leading to an increase in cobalt-related stocks [1] Group 1: Company Performance - Liqin Resources (02245.HK) saw a rise of 6.68%, trading at 17.4 HKD [1] - Luoyang Molybdenum (03993.HK) experienced a slight increase of 0.55%, trading at 12.9 HKD [1]

Group 1 - Cobalt stocks continue to rise, with Liqin Resources (02245) up 6.68% to HKD 17.4 and Luoyang Molybdenum (603993) (03993) up 0.55% to HKD 12.9 [1] - The government of the Democratic Republic of Congo updated its cobalt export policy on September 20, extending the export ban to October 15, 2025, and setting export quotas for 2026-2027 at only 44% of annual production [1] - CITIC Securities predicts that the export quotas will lead to global cobalt supply being significantly below normal levels from 2025 to 2027, which is expected to drive cobalt prices higher [1] Group 2 - Morgan Stanley notes that the extension of the cobalt export ban until October 15 will be followed by quotas, with the 2026-2027 quota set at 40% of normal production [1] - If Luoyang Molybdenum receives a proportional quota, potential sales for Q4 2025 could be approximately 8,600 tons, and around 43,600 tons for 2026-2027 [1] - Minsheng Securities highlights that Liqin Resources has a large-scale nickel production capacity in Indonesia with cost advantages, positioning the company to benefit significantly from rising cobalt prices [1]

Group 1 - Cobalt stocks continue to rise, with Liqin Resources up 6.68% to HKD 17.4 and Luoyang Molybdenum up 0.55% to HKD 12.9 [1] - The Congolese government updated its cobalt export policy on September 20, extending the export ban to October 15, 2025, and setting export quotas for 2026-2027 at only 44% of annual production [1] - CITIC Securities predicts that the export quotas will lead to significantly lower global cobalt supply from 2025 to 2027, resulting in a strong potential increase in cobalt prices [1] Group 2 - Morgan Stanley notes that if Luoyang Molybdenum receives proportional quotas, potential sales could be approximately 8,600 tons in Q4 2025 and about 43,600 tons for 2026-2027 [1] - Minsheng Securities highlights that Liqin Resources has a large-scale wet nickel production capacity in Indonesia, which positions the company to benefit significantly from rising cobalt prices [1]

Group 1 - The core viewpoint is that Likin Resources (02245.HK) has successfully transformed from a nickel trading company to a leading nickel smelting enterprise, with its stock price reaching a historical high and a significant increase in market capitalization [1][3] - Over the past 13 months, the company's stock price has surged from 4.13 HKD to approximately 17 HKD, representing a remarkable increase of 290% [1][3] - The company was listed on the Hong Kong Stock Exchange at the end of 2022 and operates across the entire nickel industry chain, leading in both trading and production of nickel products [3] Group 2 - In the first half of the year, the company's revenue reached 18.147 billion HKD, a year-on-year increase of 66.8%, while profit was 2.249 billion HKD, up 131.7% year-on-year [3] - Minsheng Securities has given a "recommended" rating, noting that nickel prices are at a cyclical low with clear cost support, and the government of the Democratic Republic of the Congo is likely to implement quota systems, leading to supply contraction [3] - The company's wet nickel production capacity is located in Indonesia, which is not affected by export restrictions from the Democratic Republic of the Congo, allowing it to fully benefit from rising cobalt prices [3]

Core Viewpoint - The stock of leading global nickel smelter, Lygend Resources (2245.HK), surged over 17% to a record high of 17.95 HKD, with trading volume reaching 320 million HKD, driven by news of the Democratic Republic of Congo lifting its cobalt export ban and implementing annual export quotas [1]. Group 1: Market Dynamics - The Democratic Republic of Congo, the world's largest supplier of cobalt, will allow the export of up to 18,125 tons of cobalt for the remainder of 2025, with annual limits of 96,600 tons for 2026 and 2027 [1]. - Nickel prices are currently at a cyclical low, with clear cost support, indicating a potential for price recovery [1]. Group 2: Company Positioning - Lygend Resources' wet nickel production capacity is located in Indonesia, which is unaffected by the export restrictions from the Democratic Republic of Congo, allowing the company to fully benefit from the anticipated rise in cobalt prices [1]. - The combination of new production capacity and cost advantages significantly enhances the growth potential of Lygend Resources [1].

Group 1 - The core viewpoint of the article highlights the significant stock price increase of Liqin Resources (2245.HK), which surged over 17% to reach a historical high of 17.95 HKD, with a trading volume of 320 million HKD [1] - The Democratic Republic of Congo (DRC), the world's largest cobalt supplier, announced the lifting of its cobalt export ban on October 16, implementing annual export quotas, allowing up to 18,125 tons of cobalt for the remainder of 2025, and annual limits of 96,600 tons for 2026 and 2027 [1] - Analysts indicate that nickel prices are at a cyclical low with clear cost support, and the DRC's export quota system may lead to a supply contraction, which is likely to push cobalt prices higher [1] Group 2 - Liqin Resources benefits from rising cobalt prices as its nickel production capacity is located in Indonesia, unaffected by the DRC's export restrictions, thus enhancing the company's growth potential [1] - The company is expected to see significant growth due to the release of new production capacity and its cost advantages [1]