On July 17, Jiangxi Copper (00358.HK) fell 3.22% in regular trading, trading at HKD 30.94/share, with turnover of HKD 108 million.

On the news front, the company officially disclosed on the evening of July 16 its plan to spin off subsidiary Jiangxi Copper Foil Technology Co., Ltd. for a Main Board listing on the Hong Kong Stock Exchange. The initial H-share issuance will not exceed 15% of post-issuance total share capital, with an over-allotment option of up to 15% of the initial offering. A shareholder meeting is scheduled for August 7 to vote on the proposal. The announcement noted that the spinoff remains subject to multiple approvals including shareholder meetings, state-owned asset regulators, CSRC filing, and HKEX authorization, introducing uncertainty.

Additionally, the copper sector faced broad selling pressure on the day. Among sector peers, China Nonferrous Mining fell 5.06%, Jinxun Resource fell 6.12%, China Daye Nonferrous fell 3.16%, while Jinchuan International and CMRU were flat, amplifying downward pressure on individual names.

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