On August 28, CHINFMINING rose 3.05% in regular trading, trading at HK$17.29/share with turnover of HK$78.1 million, rebounding from the prior session's 3.49% decline triggered by the convertible bond announcement.

The recovery is underpinned by the company's strong H1 results and favorable convertible bond terms. The company reported attributable profit of US$434 million for the first half, up 64.68% year-over-year, exceeding its earlier profit alert of approximately US$420 million. Revenue rose 29.1% to US$2.26 billion, driven by higher international copper prices and a 48.1% surge in sulfuric acid sales. Operating cash flow reached US$1.043 billion, up 98.3% year-over-year.

Regarding the convertible bond, the company announced a US$300 million zero-coupon issuance due 2031 with an initial conversion price of HK$22.18, representing a 29% premium to the pre-announcement closing price. Full conversion would dilute existing share capital by only 2.72%, with proceeds earmarked for the Zambia Shaft No. 28 sulfide ore project requiring approximately US$530 million in total investment.

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