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Jiangxi Copper Company ( (HK:0358) ) has shared an update.
Jiangxi Copper Company Limited plans to spin off its controlled subsidiary Jiangxi JCC Copper Foil Technology Company Limited for a separate listing on the Hong Kong Stock Exchange. The move is intended to optimise the group’s industrial layout, broaden financing channels for the copper foil business and enhance the subsidiary’s core competitiveness in electrolytic copper foil.
The company will retain control of JCC Copper Foil, which will remain within its consolidated financial statements, and it expects no material impact on other business segments or its own independent listing status and profitability. The spin-off is still at a preliminary planning stage, with feasibility and detailed plans subject to further demonstration, board and shareholder approvals, and multiple uncertainties that could affect implementation.
JCC Copper Foil has long focused on electrolytic copper foil, continuously investing in research and production capacity to expand its operational scale, technological capabilities and market reputation. It has become a key enterprise in the specialised, large-scale and high-end development of China’s electrolytic copper foil industry, closely aligned with national strategies for new energy and electronic information sectors.
The most recent analyst rating on (HK:0358) stock is a Buy with a HK$50.00 price target. To see the full list of analyst forecasts on Jiangxi Copper Company stock, see the HK:0358 Stock Forecast page.
More about Jiangxi Copper Company
Jiangxi Copper Company Limited is a major Chinese non-ferrous metals producer with a focus on copper-related businesses. Through subsidiaries such as Jiangxi JCC Copper Foil Technology Company Limited, it participates in the electrolytic copper foil sector, serving fast-growing new energy and electronic information industries in China.
Average Trading Volume: 16,219,983
Technical Sentiment Signal: Buy
Current Market Cap: HK$163.5B
For detailed information about 0358 stock, go to TipRanks’ Stock Analysis page.