BUZZ-China's Jiangxi Copper falls as annual net profit misses estimates

Reuters
Yesterday
BUZZ-China's <a href="https://laohu8.com/S/JIAXF">Jiangxi Copper</a> falls as annual net profit misses estimates

** Hong Kong-listed shares of Jiangxi Copper 0358.HK drop 4.3% to HK$34.86, set for a second consecutive session of losses, if current trend holds

** Stock marks its biggest intraday pct decline since March 23, and is second-biggest pct loser in the Hang Seng Composite Index on material stocks .HSCIM, which gains 0.3%

** Jiangxi's Shanghai-listed stock 600362.SS slips 3.1% to 42.82 yuan, its lowest point since March 24

** The Chinese copper miner says its 2025 net profit up 2.4% y/y and revenue up 5.4% y/y

** Company says it had made a 1.53 billion yuan ($221.32 mln) provision for impairment on various assets for 2025

** Citi, with "buy" rating, says Jiangxi Copper's 2025 net profit is lowered than estimates, mainly driven by higher effective tax rate than expected

** YTD, Hong Kong stock down 18.3%, Shanghai-listed shares down 20.6%

($1 = 6.9132 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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