Daiwa Research: CMOC (03993.HK) Exceeds 2025 Recurring Net Profit Expectations; Maintains Buy Rating
Positive Profit Forecast: CMOC (03993.HK) issued a profit alert predicting a 47.8-53.7% increase in net profit for 2025, reaching RMB20-20.8 billion, with recurring net profit expected to rise by 55.5-61.6%.
Production Targets: The company set a 2026 copper production target of 760,000-820,000 tons (up 3-11% YoY) and a cobalt production target of 100,000-120,000 tons (YoY change of -15% to +2%).
Market Ratings: M Stanley rated CMOC as "Buy" following the positive profit alert, aligning with a target price of $23.2 and an overweight rating.
Short Selling Data: As of January 15, 2026, CMOC had short selling of $118.85 million, with a ratio of 7.464%.
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HSI Rises 138 Points in Half-Day Trading as CMOC/LAOPU GOLD Jumps 6% After Blue Chip Inclusion; Overall HSI Increases 32% in Year of the Snake
Hong Kong Stock Performance: On February 16, Hong Kong stocks saw a positive half-day session, with the HSI closing up 138 points (0.5%) at 26,705, marking a strong overall performance in the Year of the Snake with a 32% gain.
HSI Quarterly Review Changes: The quarterly review of the HSI included the addition of CATL, CMOC, and LAOPU GOLD, which saw significant gains, while ZHONGSHENG HLDG was removed from the index.
Individual Stock Movements: Notable stock movements included SANDS CHINA LTD rising 2.7% despite a slight decline in property EBITDA, while ANTA SPORTS experienced a minor drop after shareholder approval for a significant acquisition.
US Department of War Update: The US Department of War's withdrawal of the "List of Chinese Military Companies" impacted stock prices, with BABA-W declining 0.5% and BIDU-SW increasing by 1.3%.
CMOC/LAOPU GOLD Rises Over 5% in Early Trading Following HSI Constituents Inclusion
Hang Seng Index Review: The Hang Seng Indexes Company announced the inclusion of CATL, CMOC, and LAOPU GOLD in the HSI following the 4Q25 review, with respective price increases of 2.899%, 6.814%, and 5.078%.
Short Selling Data: CATL, CMOC, and LAOPU GOLD experienced significant short selling, with ratios of 23.375%, 22.040%, and 28.099%, respectively, indicating investor caution.
Market Reactions: CMOC and LAOPU GOLD saw notable price surges of 5.25% and 5.55%, while ZHONGSHENG HLDG faced a decline of 2.707% amid short selling pressures.
Implementation Timeline: The changes to the index will be effective after the market close on March 6, 2026, and will take effect on March 9, 2026.
HSI Declines by 65 Points at Opening; CATL and CMOC Start Strong Among Blue Chips; Alibaba and Baidu Struggle
US Inflation and Stock Market Update: US inflation was below expectations while core inflation met them; the DJIA rose by 0.1% last Friday.
Hong Kong Stock Market Performance: The Hong Kong bourse opened lower, with the HSI down 0.2% and other indices also showing declines.
HSI Quarterly Review Changes: CATL, CMOC, and LAOPU GOLD were added to the HSI, while ZHONGSHENG HLDG was removed; CATL and CMOC saw slight increases in their stock prices.
Notable Stock Movements: Stocks like BABA-W and BIDU-SW dropped significantly after being listed as Chinese military companies, while ANTA SPORTS received approval for a stake acquisition in PUMA.
CATL, CMOC, and LAOPU GOLD Join HSI; ZHONGSHENG HLDG Excluded
Index Review Announcement: Hang Seng Indexes Company announced the results of its quarterly review for the Hang Seng Family of Indexes, effective from 9 March 2026.
New Additions to HSI: CATL, CMOC, and LAOPU GOLD will be added to the Hang Seng Index, increasing the total number of constituents from 88 to 90.
Deletion from HSI: ZHONGSHENG HLDG will be removed from the Hang Seng Index as part of the quarterly review.
Short Selling Data: The article includes short selling data for the mentioned companies, highlighting significant short selling ratios and amounts prior to the index changes.
Congo's Copper Exports Increased by Approximately 10% Last Year, Primarily Driven by Chinese Companies
Copper Production Growth: The Democratic Republic of the Congo's copper exports increased by nearly 10% last year, making it the world's second-largest industrial metal producer after Chile, with shipments rising from 3.1 million tons in 2024 to 3.4 million tons in 2025.
Chinese Investment: A significant portion of Congo's copper production is attributed to Chinese companies, particularly CMOC, which operates the country's largest mines.
Kamoa-Kakula Mine: The second-largest copper mine in the country, Kamoa-Kakula, is a joint venture between Canada's Ivanhoe Mines and China's ZIJIN MINING, projected to produce 400,000 tons in 2025.
Market Dynamics: Analysts recommend focusing on companies like ZIJIN MINING and CMOC, as tighter copper supply-demand dynamics are anticipated.
Citi Increases CMOC's Target Price, Maintains Buy Rating
Citi's Profit Forecasts: Citi has raised its net profit forecasts for CMOC for 2025-27 by 3.8%, 34.2%, and 17.5%, estimating profits of RMB20.5 billion, RMB33.9 billion, and RMB31.8 billion respectively.
Acquisition of Gold Assets: CMOC's acquisition of Brazilian gold assets is expected to yield 7.1 tons of gold production in 2026, contributing approximately RMB2.4 billion in net profit.
Target Price Adjustment: Citi has increased its target price for CMOC from HKD20.6 to HKD28.3 while maintaining a Buy rating.
Short Selling Data: As of February 10, 2026, CMOC has reported short selling of $49.96 million with a ratio of 12.246%.
HSI Rises 138 Points in Half-Day Trading as CMOC/LAOPU GOLD Jumps 6% After Blue Chip Inclusion; Overall HSI Increases 32% in Year of the Snake
Hong Kong Stock Performance: On February 16, Hong Kong stocks saw a positive half-day session, with the HSI closing up 138 points (0.5%) at 26,705, marking a strong overall performance in the Year of the Snake with a 32% gain.
HSI Quarterly Review Changes: The quarterly review of the HSI included the addition of CATL, CMOC, and LAOPU GOLD, which saw significant gains, while ZHONGSHENG HLDG was removed from the index.
Individual Stock Movements: Notable stock movements included SANDS CHINA LTD rising 2.7% despite a slight decline in property EBITDA, while ANTA SPORTS experienced a minor drop after shareholder approval for a significant acquisition.
US Department of War Update: The US Department of War's withdrawal of the "List of Chinese Military Companies" impacted stock prices, with BABA-W declining 0.5% and BIDU-SW increasing by 1.3%.
CMOC/LAOPU GOLD Rises Over 5% in Early Trading Following HSI Constituents Inclusion
Hang Seng Index Review: The Hang Seng Indexes Company announced the inclusion of CATL, CMOC, and LAOPU GOLD in the HSI following the 4Q25 review, with respective price increases of 2.899%, 6.814%, and 5.078%.
Short Selling Data: CATL, CMOC, and LAOPU GOLD experienced significant short selling, with ratios of 23.375%, 22.040%, and 28.099%, respectively, indicating investor caution.
Market Reactions: CMOC and LAOPU GOLD saw notable price surges of 5.25% and 5.55%, while ZHONGSHENG HLDG faced a decline of 2.707% amid short selling pressures.
Implementation Timeline: The changes to the index will be effective after the market close on March 6, 2026, and will take effect on March 9, 2026.
HSI Declines by 65 Points at Opening; CATL and CMOC Start Strong Among Blue Chips; Alibaba and Baidu Struggle
US Inflation and Stock Market Update: US inflation was below expectations while core inflation met them; the DJIA rose by 0.1% last Friday.
Hong Kong Stock Market Performance: The Hong Kong bourse opened lower, with the HSI down 0.2% and other indices also showing declines.
HSI Quarterly Review Changes: CATL, CMOC, and LAOPU GOLD were added to the HSI, while ZHONGSHENG HLDG was removed; CATL and CMOC saw slight increases in their stock prices.
Notable Stock Movements: Stocks like BABA-W and BIDU-SW dropped significantly after being listed as Chinese military companies, while ANTA SPORTS received approval for a stake acquisition in PUMA.
CATL, CMOC, and LAOPU GOLD Join HSI; ZHONGSHENG HLDG Excluded
Index Review Announcement: Hang Seng Indexes Company announced the results of its quarterly review for the Hang Seng Family of Indexes, effective from 9 March 2026.
New Additions to HSI: CATL, CMOC, and LAOPU GOLD will be added to the Hang Seng Index, increasing the total number of constituents from 88 to 90.
Deletion from HSI: ZHONGSHENG HLDG will be removed from the Hang Seng Index as part of the quarterly review.
Short Selling Data: The article includes short selling data for the mentioned companies, highlighting significant short selling ratios and amounts prior to the index changes.
Congo's Copper Exports Increased by Approximately 10% Last Year, Primarily Driven by Chinese Companies
Copper Production Growth: The Democratic Republic of the Congo's copper exports increased by nearly 10% last year, making it the world's second-largest industrial metal producer after Chile, with shipments rising from 3.1 million tons in 2024 to 3.4 million tons in 2025.
Chinese Investment: A significant portion of Congo's copper production is attributed to Chinese companies, particularly CMOC, which operates the country's largest mines.
Kamoa-Kakula Mine: The second-largest copper mine in the country, Kamoa-Kakula, is a joint venture between Canada's Ivanhoe Mines and China's ZIJIN MINING, projected to produce 400,000 tons in 2025.
Market Dynamics: Analysts recommend focusing on companies like ZIJIN MINING and CMOC, as tighter copper supply-demand dynamics are anticipated.
Citi Increases CMOC's Target Price, Maintains Buy Rating
Citi's Profit Forecasts: Citi has raised its net profit forecasts for CMOC for 2025-27 by 3.8%, 34.2%, and 17.5%, estimating profits of RMB20.5 billion, RMB33.9 billion, and RMB31.8 billion respectively.
Acquisition of Gold Assets: CMOC's acquisition of Brazilian gold assets is expected to yield 7.1 tons of gold production in 2026, contributing approximately RMB2.4 billion in net profit.
Target Price Adjustment: Citi has increased its target price for CMOC from HKD20.6 to HKD28.3 while maintaining a Buy rating.
Short Selling Data: As of February 10, 2026, CMOC has reported short selling of $49.96 million with a ratio of 12.246%.
