On July 21, Jiangxi Copper rose 3.02% in regular trading, trading at HK$32.06/share, with turnover of approximately HK$61.65 million.

On the news front, the company published detailed arrangements on July 20 for spinning off its subsidiary Jiangxi Copper Foil Technology to the HKEX main board, with an extraordinary general meeting and class shareholder meetings scheduled for August 7 to vote on the proposal. The initial share issuance will not exceed 15% of the post-offering total share capital, with an over-allotment option of up to 15% of the initial issuance. Jiangxi Copper will maintain control of the subsidiary after completion.

The spin-off news was first disclosed on July 16, triggering a decline of over 4% on July 17. Market sentiment has since recovered as investors digest the details. Additionally, the company previously issued a profit alert forecasting first-half net profit growth of 81% to 104% year-over-year, providing fundamental support for the share price rebound.

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