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HKG:2899

5 stories mentioning HKG:2899

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Asia

Market Chatter: China Taps State-Backed Commission to Manage Overseas Mining Deals

Beijing has tasked the National Development and Reform Commission (NDRC) to manage the coordination of its overseas metals and mining deals, Bloomberg News reported Thursday, citing sources.Guangyan International Investment, which is owned by state firm China Minmetals, will invest in projects, as well as offer support on compliance and the planning of international contracts, the report said.In May, major metals companies, such as Zijin Mining Group (SHA:601899, HKG:2899) and China Baowu Steel Group, were told in a meeting that they would be receiving support from the government for overseas investments, sources told the media outlet.Guangyan International Investment does not have an email address, butreached out to China Minmetals for comment, and they have yet to respond.The NDRC, Zijin and Baowu did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:2899SHA:601899
Asia

Naipu Mining Machinery Enters Three-Year Partnership With Zijin Mining; Shares Jump 6%

Naipu Mining Machinery (SHE:300818) signed a three-year strategic cooperation agreement with Zijin Mining Group (SHA:601899, HKG:2899), effective May 14.Under the deal, the company will supply slurry pumps and wear-resistant parts, with priority order fulfillment during capacity constraints, according to a Monday filing with the Shenzhen bourse.The agreement includes full lifecycle equipment management, joint research and development for extended equipment life, overseas project collaboration and consignment inventory models.Shares of the mining equipment and spare parts distributor rose 6% in recent trade.

HKG:2899SHA:601899SHE:300818
Asia

S&P Raises Zijin Mining's Outlook to Positive; Shanghai Shares Down 3%

S&P Global Ratings affirmed Zijin Mining Group's (SHA:601899, HKG:2899) BBB rating and raised the outlook to positive from stable.The positive outlook reflects the rating agency's view that Zijin Mining will deliver rising output from its projects in the next two years and its policy of controlling debt to EBITDA and resilient metals prices will keep the ratio below 1.5x, according to a Tuesday research note..Zijin Mining's stronger cash flow, which is expected to continue into 2026, will somewhat cushion its elevated investments, S&P said.Shares of the miner were down 3% on the Shanghai bourse and 2% on the Hong Kong bourse.

HKG:2899SHA:601899
Asia

Zijin Gold International's Profit, Revenue Surge in Q1; Shares Down 3%

Zijin Gold International (HKG:2259) booked $807.3 million in profit attributable to owners for the first quarter of 2026, up from $166.3 million a year earlier, according to a Hong Kong bourse filing on Tuesday.Shares of the gold miner fell nearly 3% in late-morning trade on Wednesday.Revenue surged to $2.06 billion from $864.9 million a year earlier, figures showed, the unit of Zijing Mining (SHA:601899, HKG:2899) said.

HKG:2259HKG:2899SHA:601899
US Markets

CATL's Q1 Profit Surges 49%, Beats Estimates; Directors Approve New Subsidiary

Contemporary Amperex Technology's (SHE:300750, HKG:3750) net profit attributable to shareholders in the first quarter rose 49% to 20.74 billion yuan from the year-ago profit of 13.96 billion yuan, according to a Wednesday filing with the Hong Kong bourse.The growth rate is higher than the estimated 21% rise in a poll of three analysts compiled by LSEG, Reuters reported Wednesday.Earnings per share at the world's largest battery maker climbed 44% year on year to 4.58 yuan from 3.18 yuan.The rise highlights the company's market dominance despite a slowdown in demand for electric vehicles in China, Reuters reported Wednesday.However, the war in Iran could boost demand for EVs elsewhere, the Wall Street Journal reported the same day, citing analysts at HSBC (HKG:0005).Operating revenue jumped 52% to 129.13 billion yuan from 84.70 billion yuan in the previous year.Analysts expected a 36% increase in revenue, Reuters said.CATL directors also approved the creation of a new energy mineral resource subsidiary with a capital of 30 billion yuan, according to a separate disclosure to the Shenzhen bourse on Wednesday.The planned subsidiary, to be named Times Resources Group (Xiamen), will explore mineral resources, process metal, and sell chemical products.The unit will act as the battery giant's investment and operations platform for the new-energy minerals, CATL said in its disclosure.CATL could be among those well-positioned to capture the next phase of growth in energy storage due to the battery giant's expanding energy storage system exposure, the Wall Street Journal said, citing HSBC.The company earlier tapped Zijin Mining Group (HKG:2899, SHA:601899) founder and former chairman Chen Jinghe to advise the battery giant on its mining business, Bloomberg reported April 7, citing people familiar with the matter.Meanwhile, CATL is also looking to have itself removed from the Pentagon's blacklist, or those with ties to China's military, to increase its U.S. prospects, Bloomberg reported separately Wednesday.

HKG:2899HKG:3750SHA:601899SHE:300750