Hong Kong Stocks Alert | CDAYENONFER (00661) Surges Nearly 25% Again as Low Processing Fees May Signal End to Copper Smelting Industry's Involution

Stock News
Oct 09

CDAYENONFER (00661) surged nearly 25% again, with cumulative gains exceeding 144% over the past nine trading days. As of press time, the stock was up 19.82% to HK$0.133, with turnover reaching HK$33.55 million.

On the news front, the Fifth Meeting of the Third Board of Directors of the Copper Branch of China Nonferrous Metals Industry Association was recently held in Xiongan New Area, Hebei Province. The issue of persistently low copper concentrate processing fees caused by "involutionary" competition in the copper smelting industry was the most concentrated feedback from representatives at the meeting and represents the industry's most prominent current challenge.

CDAYENONFER's revenue declined by more than 10% in the first half of the year, primarily due to the dual impact of accelerated domestic and international smelting capacity releases and tight copper concentrate supply, which kept smelting processing fees at persistently low levels, alongside reduced product output from the company.

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