MCC (01618) surged over 8% following its earnings release. As of press time, the stock was up 7.49% to HK$2.44, with trading volume reaching HK$181 million.

According to the company's interim results, MCC reported operating revenue of RMB 237.533 billion, down 20.52% year-on-year, while profit attributable to shareholders stood at RMB 3.099 billion, declining 25.31% year-on-year.

Breaking down by quarters, the company's revenue fell 18% and 23% year-on-year in Q1 and Q2 respectively. However, net profit attributable to the parent company declined 40% in Q1 but turned positive with 1% growth in Q2, marking a significant sequential acceleration. This improvement was primarily driven by enhanced gross margins and reduced impairment losses.

In the first half of the year, the company's three operating mines generated combined operating revenue of RMB 2.8 billion, up 3% year-on-year, and achieved profit attributable to the Chinese side of RMB 550 million, surging 29% year-on-year. This represented 18% of the company's total net profit attributable to the parent. Specifically, the Ramu nickel-cobalt mine, Sandaik copper-gold mine, and Dudal lead-zinc mine contributed RMB 230 million, RMB 150 million, and RMB 170 million respectively in profits attributable to the Chinese side.

Additionally, the Saindak copper mine project in Pakistan has completed all relevant approval procedures and received basic approvals, while the Aynak copper mine in Afghanistan is accelerating feasibility studies, access road construction, and other preliminary preparations. Once these two mines commence production, the resource segment's performance contribution is expected to increase significantly, offering considerable potential for value revaluation.