Hong Kong Stock Movement: XINXIN MINING fell 16.52%

Hong Kong Stock Movement

XINXIN MINING fell 16.52%. According to recent key news:

1. On October 9, XINXIN MINING 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 approved the relevant work to issue A shares and list on a securities exchange in China. This news raised market concerns about the company's future development, leading to a decline in stock price.

2. On September 20, the production ceremony for the 1.2 million tons/year mining project of the Huao Mining of Xinjiang Nonferrous Group was held in Ruoqiang County. Although this news is beneficial for the company's long-term development, it failed to boost the stock price in the short term.

3. In February this year, XINXIN MINING announced that the company intends to acquire a 51% stake in Xinjiang Huao Mining for approximately RMB 1.098 billion. This move will increase the company's financial burden, and the market reacted negatively, leading to stock price fluctuations. The overall industry performance is weak, with significant capital outflows.

Stocks with High Trading Volume in the Industry

Luoyang Molybdenum fell 5.41%, with a trading volume of HKD 1.074 billion. According to recent key news:

1. On October 9, Luoyang Molybdenum announced that the closing price of its A shares had deviated by more than 20% over three consecutive trading days on September 29, September 30, and October 9, indicating abnormal stock trading fluctuations. The company conducted a self-examination and formally consulted its controlling shareholder and actual controller, finding no significant issues.

2. On October 9, the Copper Mark organization notified Luoyang Molybdenum that its TFM copper-cobalt mine operating in the Democratic Republic of the Congo passed a re-audit, becoming the first mine in Africa to receive Copper Mark certification.

3. On October 10, the President of the Democratic Republic of the Congo warned that companies violating the new cobalt export quota system would be permanently banned from exporting cobalt, with cobalt futures rising over 11% cumulatively. The rare metals industry is experiencing significant volatility, requiring attention to policy changes.

Minmetals Resources fell 4.77%, with a trading volume of HKD 597 million. According to recent key news:

1. On October 8, Minmetals Resources announced the completion of a USD 500 million bond issuance, with net proceeds of approximately USD 494 million. The company plans to use these funds for refinancing overseas debts. Following this announcement, market concerns about the company's debt management intensified, leading to a decline in stock price.

2. On October 8, Minmetals Resources executed a large transaction on the Hong Kong Stock Exchange, with a transaction amount of HKD 146 million. Large transactions are typically viewed as actions by institutional investors, which may trigger short-term fluctuations in the company's stock.

3. On October 9, the Guangxi Bureau of the National Mine Safety Supervision Administration issued the "Implementation Measures for Exempting Penalties for Coal Mine Violations (Trial)," aimed at regulating administrative law enforcement in mine safety production. Although this policy is generally favorable for the coal mining industry, market concerns about the details of policy implementation may negatively impact Minmetals Resources' stock price. Industry policy changes and debt management have triggered fluctuations