Shares of LYGEND RESOURCE (02245) experienced a significant surge of over 6% during the late trading session. At the time of writing, the stock was up 5.82%, trading at HK$13.82 with a turnover of approximately HK$632.689 million.

Key Developments Driving the Movement

The company has provided an update on its progress towards an A-share listing, having submitted its IPO application materials to the main board of the Shenzhen Stock Exchange. This submission included a voluntary profit forecast for the 2026 financial year.

Financial Performance Forecast

For the full year, the company projects its operating revenue to reach approximately RMB 56.413 billion, representing a year-on-year increase of about 40.14%. It also anticipates its net profit to surpass RMB 6.001 billion, marking a growth of roughly 26.35% compared to the previous year.

Operational Milestone Achieved

In a related operational development, the company announced earlier this month that all production lines of the KPS project, which is part of the second phase of its RKEF project, officially commenced commercial operations in May 2026. This project is a joint investment with Indonesian partners on Obi Island, Indonesia, and comprises 12 production lines with an annual designed capacity of 185,000 metal tonnes of nickel-iron.

The full-scale operation of these production lines signifies that LYGEND RESOURCE has formally achieved a scaled annual production capacity of 400,000 metal tonnes of nickel.