Understanding the Market | XINXIN MINING rises over 6%, doubling in nearly eight trading days; the company plans to return to A-share listing
XINXIN MINING rose over 6% again, with its stock price doubling in nearly eight trading days. As of the time of publication, it is up 5%, priced at HKD 3.78, with a transaction volume of HKD 31.8792 million. In terms of news, XINXIN MINING previously announced that to promote the company's sustainable and stable development and to facilitate sustainable growth in revenue and shareholder returns, the board of directors has reviewed and approved the relevant work to issue A shares and list on a securities exchange in China. According to the semi-annual report, XINXIN MINING wholly owns four nickel-copper mines: Kalatongke, Huangshandong, Huangshan, and Xiangshan, and has two vanadium mines: Xianghe Street and Mujia River, as well as the Kalchaer fluorite mine. It is reported that on the morning of September 20, the production ceremony for the 1.2 million tons/year mining project at the Kalchaer fluorite mine of Xinjiang Nonferrous Group Huao Mining was held in Ruoqiang County. In February of this year, XINXIN MINING announced that the company intends to acquire a 51% stake in Xinjiang Huao Mining for approximately RMB 1.098 billion. Upon completion of the transaction, the target company will become a non-wholly-owned subsidiary of the company, and its financial data will be consolidated into the company's financial statements
According to Zhitong Finance APP, XINXIN MINING (03833) has risen over 6% again, with its stock price doubling in the past eight trading days. As of the time of writing, it is up 5%, priced at HKD 3.78, with a transaction volume of HKD 31.8792 million.
In terms of news, XINXIN MINING previously announced that in order to promote the company's sustainable and stable development and to facilitate sustainable growth in revenue and shareholder returns, the board of directors has reviewed and approved the relevant work to issue A-shares and list on a securities exchange in China. According to the semi-annual report, XINXIN MINING wholly owns four nickel-copper mines: Kalatongke, Huangshandong, Huangshan, and Xiangshan, as well as two vanadium mines: Xianghe Street and Mujia River, and the Kalchaer fluorite mine.
It is reported that on the morning of September 20, the production ceremony for the 1.2 million tons/year mining project of the Kalchaer fluorite mine of Xinjiang Nonferrous Group Huao Mining was held in Ruoqiang County. In February of this year, XINXIN MINING announced that it plans to acquire 51% equity of Xinjiang Huao Mining for approximately RMB 1.098 billion. Upon completion of the matter, the target company will become a non-wholly-owned subsidiary of the company, and its financial data will be consolidated into the company's financial statements
