CHINA QINFA (00866) surged more than 4%, reaching HK$3.2 by the time of writing, with a trading volume of HK$3.4588 million. The uptick follows the company's announcement on November 6 that it has been included in the MSCI Global Small Cap Index after a recent review by MSCI Inc. The adjustment will take effect after the market closes on November 24, 2025. The MSCI Global Small Cap Index, compiled by MSCI Inc, serves as a benchmark for small-cap company performance and is widely referenced by international institutional investors.

Additionally, CHINA QINFA disclosed updates on the coal mine development progress of its wholly-owned subsidiary, PT Trisula Sumber Energi (TSE), located in South Kalimantan, Indonesia. The TSE mine is currently in the pre-operational planning phase, with construction yet to commence. The company expects to begin mine construction activities in Q1 2026.

According to analysis, CHINA QINFA holds mining rights for five major sites in Indonesia: SDE, TSE, SME, VSE, and IMJ. The SDE mine, prioritized for development, has a planned production capacity of 30 million tons.