Core Viewpoint - Xinjiang Xinxin Mining (03833) experienced a pre-earnings surge of over 8%, attributed to the upcoming board meeting to approve mid-term results, despite a significant decline in net profit due to falling nickel prices and rising production costs [1]. Company Summary - Xinjiang Xinxin Mining's expected consolidated revenue for the first half of the year is approximately 1.118 billion yuan, representing a year-on-year increase of about 4.9% [1]. - The company's net profit attributable to shareholders is projected to be around 71.8 million yuan, reflecting a substantial year-on-year decrease of approximately 50.8% [1]. Industry Summary - According to Galaxy Futures, the nickel market is currently experiencing an oversupply, which is being absorbed by hidden inventories [1]. - In July, significant imports did not disrupt domestic supply, and refined nickel spot prices remained stable [1]. - In August, there is an increase in stainless steel and ternary production, providing support for primary nickel demand, while refined nickel may see improved transactions due to seasonal stocking [1]. - Expectations for interest rate cuts in September could strengthen commodity indices, potentially allowing nickel prices to rebound due to inflation expectations, although the upward potential remains limited, maintaining a wide fluctuation pattern [1].
港股异动 | 新疆新鑫矿业(03833)尾盘涨超8% 公司盘后将发业绩 此前预计中期纯利同比腰斩