CNGR Advanced Material Co., Ltd. (02579) saw its shares rise by nearly 9% during the trading session. By the time of writing, the stock had increased by 6.85%, trading at HK$38.70 with a turnover of HK$75.9794 million.

The company previously released its first-quarter earnings forecast, projecting a net profit attributable to shareholders of RMB 530 million to RMB 590 million, representing a year-on-year increase of 72.32% to 91.82%. Soochow Securities noted that CNGR's first-quarter performance exceeded expectations, with pre-cursor shipments rising by more than 10% quarter-on-quarter amid stable profitability. Rising nickel prices contributed to profit flexibility, showing a significant increase in the first quarter. Additionally, the company demonstrated leadership in sodium battery technology, shipping 700 tons during the quarter.

It is worth noting that CNGR's electrolytic nickel product has been successfully registered as a deliverable brand for the Shanghai Futures Exchange futures contract. Previously, the brand was registered with the London Metal Exchange. With this, CNGR's "DX-zwdx" brand electrolytic nickel has become a registered deliverable brand on both the SHFE and LME, marking its entry into the two major global and domestic core commodity pricing and delivery systems.