<div id="readability-page-1"><div><p>UOB Kay Hian said in a research report that CMOC Group (03993.HK)<span> </span><span> -0.570 (-3.029%)  </span> <span> Short selling $202.41M; Ratio 31.343%  </span>  posted net profit of RMB7.76 billion for 1Q26, up 96.7% YoY, in line with expectations. The strong performance was mainly driven by higher realized selling prices, stronger copper sales volume and increased metal trading volume.</p><p>The broker noted that the companys production met guidance, supported by stable operations in the Democratic Republic of Congo. This came despite cost pressure from sulfur and uncertainties surrounding cobalt export policies in the Democratic Republic of Congo, which may cause short-term fluctuations in margins and sales timing. The broker raised its earnings forecasts for 2027 and 2028 by 9% and 8%, respectively, to reflect higher copper production and improved margin assumptions. It maintained a Buy rating and lowered the TP from HKD28.6 to HKD26.9. (hc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-27 12:25.)</p></div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p></div>

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<p>UOB Kay Hian has cut the target price for CMOC Groupfrom HKD28.6 to HKD26.9 while maintaining a Buy rating. The company reported a net profit of RMB7.76 billion for Q1 2026, a 96.7% increase year-on-year, driven by higher copper sales and trading volumes. Despite cost pressures and uncertainties in cobalt export policies, the broker raised earnings forecasts for 2027 and 2028 by 9% and 8%, respectively, due to improved production and margin expectations.</p>

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UOB Kay Hian

UOB Kay Hian Cuts CMOC Group  TP to HKD26.9, Raises Earnings Forecasts; Rating Buy