On July 16, MMG Limited rose 3.69% in regular trading, trading at HKD 7.86/share, with turnover of HKD 127 million.

On the news front, US June CPI data declined more than expected, supporting copper prices and driving a broad recovery in non-ferrous metal stocks. MMG's share price had fallen over 28% from HKD 9.74 before its late-June financing to a low of HKD 6.92, and the current move extends the ongoing oversold rebound. The company completed a combined financing package exceeding HKD 12 billion in late June, including a placement of 706 million new shares at HKD 8.88 each netting approximately HKD 6.253 billion, and an issuance of USD 800 million zero-coupon convertible bonds due 2027.

The current share price remains approximately 23% below the convertible bond conversion price of HKD 10.21, with market attention continuing on the concentrated USD 800 million repayment obligation maturing in 2027. Additionally, peer CMOC previously issued a profit alert forecasting H1 net profit growth of 79%-90% year-on-year, supporting overall copper sector sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)