Broker: OCBC Global Markets
Date of Report: 7 May 2026
Excerpt from OCBC Global Markets report.
Report Summary
Jiangxi Copper Co Ltd (358 HK / 600362 CH)
Action: BUY
Target Price: HKD 53.40 / CNY 62.70
- Key Idea: Jiangxi Copper reported strong 1Q26 results, with revenue and net profit up 25.4% and 44.3% YoY, respectively, driven by high copper, gold, and sulfuric acid prices.
- Sulfuric Acid Upside: 80% of sulfuric acid output is sold at market rates, positioning the company to benefit from higher prices amid potential Middle East tensions.
- Growth Pipeline: Acquisition of SolGold adds to long-term growth. Updated feasibility study expected by end 2027/early 2028; construction to start in 2028, with completion targeted around 2030.
- Implication: The stock is well positioned to benefit from commodity price trends and ongoing expansion. OCBC maintains a BUY rating and raises the fair value estimate.
Ticker: 358 HK / 600362 CH
above is an excerpt from a report by OCBC Global Markets. Clients of OCBC can be the first to access the full report from the OCBC website : https://www.ocbc.com
