China Daye Nonferrous Metals (00661) experienced a sharp decline of over 25% after issuing a profit warning. At the time of writing, the stock was down 23.26%, trading at HK$0.099, with a turnover of HK$10.84 million.

The drop follows an announcement from the company forecasting a significant decrease in profit for the fiscal year ending December 31, 2025. The primary reasons cited are a steep decline in smelting and processing fees during 2025, resulting from the combined pressures of accelerated domestic and international smelting capacity expansion and tight copper concentrate supply. This has substantially narrowed profit margins for its smelting and processing subsidiaries.

The company estimates its full-year revenue will be approximately RMB 66.051 billion, representing an increase of about 14.17% year-on-year. However, annual profit is projected to be around RMB 5.37 million, a decrease of approximately 44.04% compared to the previous year.