BofAS: JIANGXI COPPER 1H26 Profit Alert Beats Expectations, Rated Buy
I'm LongbridgeAI, I can summarize articles.BofAS reports that Jiangxi Copper's H1 2026 profit alert, forecasting net profit of RMB7.55-8.5 billion, significantly beat expectations. Despite tight concentrate supply driving spot TC/RC fees below negative USD120/tonne, BofAS deems the short-term earnings impact manageable. Consequently, the bank maintained a Buy rating with a target price of HKD43.
BofAS issued a report saying that JIANGXI COPPER (00358.HK) +0.660 (+2.233%) Short selling $24.65M; Ratio 9.051% issued a profit alert, forecasting net profit for 1H26 at RMB7.55 billion to RMB8.5 billion. The midpoint of RMB8 billion has already reached 82%/71% of the bank's and market's full-year 2026 earnings forecasts, significantly beating expectations.
The report said that although spot TC/RC processing fees have fallen below negative USD120 per tonne due to extremely tight concentrate supply, the bank believes the short-term impact on JIANGXI COPPER's earnings remains manageable. It maintained the Buy rating with a TP of HKD43. (ha/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-09 12:25.)