Changes in Hong Kong stocks | Jiangxi Copper shares (00358) rose more than 9% to the peak. The company recently acquired all of SolGold's shares and is expected to reduce refined copper production next year

The Zhitong Finance App learned that Jiangxi Copper Co., Ltd. (00358) rose more than 9% in early trading, to a high of HK$44.62, and hit a new listing high. As of press release, it rose 7.57% to HK$43.78, with a turnover of HK$553 million.

According to the news, Jiangxi Copper Hong Kong Investment Co., Ltd. announced that its wholly-owned subsidiary Jiangtong Hong Kong Investment will acquire all of the issued and upcoming common shares of SolGold plc (SolGold plc) in full cash, based on the total number of shares issued and share options granted (with the exception of SolGold shares already held by Jiangtong Hong Kong Investment), and that the maximum total consideration that Jiangtong Hong Kong Investment will be able to pay in accordance with the acquisition will not exceed £764 million. The completion of the acquisition is still subject to approval by Sol Gold shareholders, and other conditions must be met or waived.

Notably, on December 26, the National Development and Reform Commission published an article entitled “Vigorously Promoting the Optimization and Upgrading of Traditional Industries”, which mentions strengthening the management and optimal layout of the alumina and copper smelting industries, and encouraging large key alumina and copper smelting enterprises to implement mergers and restructuring. Damo believes that lower annual copper concentrate processing fees/refining fees and long-term contract concentrate volumes may mean a reduction in refined copper production in 2026. Combined with these factors, demand is still stable, and should support high fluctuations in copper prices, which is beneficial to Zijin Mining, Luoyang Molybdenum Industry, Minmetals Resources, and Jiangxi Copper Industry.