Changes in Hong Kong stocks | Jiangxi Copper Co., Ltd. (00358) fell more than 6%, and net profit fell 47% month-on-month in the third quarter, and it is expected that there will be profit pressure in the fourth quarter

The Zhitong Finance App learned that Jiangxi Copper Co., Ltd. (00358) fell for two consecutive days after the results. As of press release, it had fallen 6.22% to HK$24.42, with a turnover of HK$562 million.

According to the news, Jiangxi Copper's revenue for the third quarter of 2026 was 135.265 billion yuan, down 2.75% year on year; net profit to mother was 3,055 billion yuan, up 65.22% year on year, down 47% month on month. According to Morgan Stanley, Jiangxi Copper's net profit for the first nine months was lower than the forecast, and net profit for the third quarter also fell 47% month-on-month, or the profit contribution of by-products decreased due to a slight correction in gold and sulfuric acid prices. The bank expects the company to be under profit pressure in the fourth quarter. Among them, spot processing and refining fees have continued to fall to minus 240 US dollars per ton recently, the supply of copper concentrate is tight and the profit of the smelting business without a fixed annual contract is low; sulfuric acid prices have also rebounded from a high level in the middle of the year, and reduced by-product contributions will drag down profits before the end of the year.