Zhejiang Huayou Cobalt Co Ltd

Huayou Cobalt announced that the company has completed the issuance of its tenth tranche of ultra-short-term financing notes for 2026, with an issuance amount of 1 billion yuan, an AAA rating, a term of 270 days, a par value of 100 yuan, and a coupon rate of 1.75 percent. The notes were publicly issued in the national interbank bond market through book building and centralized allocation, with Industrial Bank, Bank of China, China CITIC Bank, China Bohai Bank, Ping An Bank, Shanghai Rural Commercial Bank, and Postal Savings Bank of China acting as lead underwriters organizing the underwriting syndicate.

Huayou Cobalt released its 2026 interim report, with net profit attributable to the parent company of 3.507 billion yuan, up 29.38% from the same period last year. Total operating revenue was 55.568 billion yuan, up 49.39% year-on-year, and net cash inflow from operating activities was 2.148 billion yuan, up 32.76% year-on-year. The company's latest asset-liability ratio was 64.28%, gross margin was 19.59%, and diluted earnings per share was 1.86 yuan.

Over the past month, companies on the Shanghai Stock Exchange main board have added a total of 91 new buyback and shareholding increase plans, with amount caps exceeding 26 billion yuan. According to statistics, from July 19 to August 18, the Shanghai main board saw 57 new buyback plans, with planned buyback caps of about 14.5 billion yuan, and 34 new shareholding increase plans, with planned increase caps of about 11.5 billion yuan. On the evening of August 19, Foxconn Industrial Internet disclosed its first buyback of 2.41 million shares, worth 149 million yuan. Huaxin Cement's shareholder Huaxin Group plans to increase its stake by 340 million to 680 million yuan. CCCC Design and Consulting's controlling shareholder subsidiary CCCC Capital plans to increase its stake by 80 million to 160 million yuan. In addition, companies such as Huayou Cobalt, Sany Heavy Industry, China Three Gorges Renewables, and China State Construction Engineering also disclosed buyback or shareholding increase plans in late July, and some have already entered a rapid implementation phase.

The Democratic Republic of the Congo has issued an administrative order banning the export of copper and cobalt concentrates, triggering a sharp rally in cobalt mining stocks. Huayou Cobalt responded that its products in the DRC are crude cobalt hydroxide and electrowon copper, and it does not export concentrates, adding that the situation is similar for other Chinese companies. Tianfeng Securities noted that in the short term, cobalt raw material supply is tight but not scarce, and cobalt prices are fluctuating with a weak bias. CITIC Securities believes the ban has limited impact on Chinese copper companies, but could intensify concerns over copper supply tightness and push LME copper prices to accelerate toward fifteen thousand dollars per tonne and above.

Elevra Lithium delivered a strong June 2026 quarter, setting a monthly production record at its North American Lithium operation and securing a strategic financing package to fully fund its NAL expansion. Spodumene concentrate production rose 15% quarter-on-quarter to 54,479 dry metric tonnes, including a new monthly record of 22,202 dry metric tonnes in May, while lithium recoveries improved by 5 percentage points to 71%. Revenue fell 61% to US$31 million due to a 39% drop in tonnes sold and a 37% decline in the average realised selling price to US$921 per dry metric tonne, as the company completed deliveries under a legacy offtake contract with lagged pricing. Elevra announced a financing package comprising a US$196 million institutional placement and US$102 million in convertible notes from Canada Growth Fund, with the upfront tranche of US$46 million approved by shareholders in July. The company also agreed to sell its interest in the Ewoyaa Project in Ghana to Zhejiang Huayou Cobalt for approximately US$71 million in cash, and ended the quarter with a cash balance of US$255 million.

Huayou Cobalt has completed the issuance of the ninth tranche of its 2026 ultra-short-term financing notes, with an issuance amount of 1 billion yuan, a term of 270 days, and an issuance rate of 1.82 percent. China Bohai Bank, Bank of China, Postal Savings Bank of China, Industrial Bank, Shanghai Pudong Development Bank, Shanghai Rural Commercial Bank, and Ping An Bank acted as lead underwriters. The notes were publicly issued in the national interbank bond market through book-building and centralized placement, and the raised funds will be used to repay the company's interest-bearing liabilities.

On the evening of July 20, multiple listed companies on the Shanghai and Shenzhen exchanges disclosed positive news. SDIC Power's controlling subsidiary Yalong River Hydropower plans to establish a project company with CATL to invest in the construction of the Yagen Second-Level Hydropower Station, with a total dynamic investment of 33.394 billion yuan, including capital of 6.679 billion yuan. Raytron released an earnings forecast, expecting first-half net profit of 1.2 billion to 1.3 billion yuan, a year-on-year increase of 242% to 270%, mainly benefiting from high industry prosperity and capacity release. Raycus Laser's earnings flash report shows first-half net profit attributable to the parent company of 158 million yuan, up 116.73% year-on-year. In addition, several companies disclosed large contracts and share buyback or increase plans: Guoke Tiancheng signed a sales contract for uncooled infrared detectors and thermal imagers worth no less than 630 million yuan, Yangdian Technology's wholly-owned subsidiary signed an 860 million yuan computing power service contract, and Yushun Electronics' wholly-owned subsidiary signed a 731 million yuan computing power server leasing agreement. Huayou Cobalt plans to repurchase shares for 600 million to 1 billion yuan, Sany Heavy Industry's chairman proposed a share buyback of 400 million to 800 million yuan, and China State Construction's controlling shareholder plans to increase its shareholding by 500 million to 1 billion yuan. Hangdian Cable plans a private placement to raise no more than 2.88 billion yuan for projects such as high-end electronic circuit copper foil, and Donghua Software plans a private placement to raise no more than 2.029 billion yuan for projects including intelligent computing center construction. Sinocera announced a price increase for zirconia powder sales effective July 27, with an increase of about 10% to 40%. Jiuri New Materials' wholly-owned subsidiary Shandong Jiuri Chemical's ACMO Phase I project has entered trial production, with a total designed capacity of 1,500 tons per year, and the first phase of 500 tons per year has been put into production.

DSBJ announced plans to repurchase shares for 200 million to 300 million yuan, with a buyback price not exceeding 367.04 yuan per share, for employee stock ownership plans or equity incentives. Sanhua Intelligent Controls' controlling shareholder proposed repurchasing A-shares for 200 million to 400 million yuan. Three-Circle Group plans to repurchase shares for 450 million to 900 million yuan. Huayou Cobalt plans to repurchase shares for 600 million to 1 billion yuan. Broad-Ocean Motor terminated its H-share issuance and plans to repurchase shares for 120 million to 160 million yuan. Zhifei Biological plans to repurchase shares for 150 million to 300 million yuan. Puya Semiconductor's controlling shareholder proposed repurchasing shares for 30 million to 50 million yuan. Chunzhong Technology's chairman proposed repurchasing shares for 50 million to 100 million yuan to reduce registered capital. Kedali's controlling shareholder proposed repurchasing shares for 150 million to 300 million yuan. Sany Heavy Industry's chairman proposed repurchasing shares for 400 million to 800 million yuan. On the share increase side, Chuantou Energy's controlling shareholder plans to increase holdings by 200 million to 300 million yuan. China State Construction's controlling shareholder plans to increase holdings by 500 million to 1 billion yuan. Gongda Electroacoustic's controlling shareholder's concert party plans to increase holdings by 150 million to 250 million yuan. In addition, SDIC Power plans to jointly build the Yagen II Hydropower Station with CATL, with a total investment of 33.394 billion yuan. Hangdian Cable plans a private placement to raise no more than 2.88 billion yuan for optical fiber preform and other projects. Dajin Heavy Industry's subsidiary signed a shipbuilding contract worth about 2.1 billion yuan. Xingyun Technology signed a 300 million yuan computing power service contract. Yangdian Technology's wholly-owned subsidiary signed an 860 million yuan computing power service contract. Yushun Electronics' subsidiary signed a 731 million yuan computing power server lease contract. On the performance front, Raycus Laser's first-half net profit rose 117 percent year-on-year. Han's Laser's semi-annual net profit rose 163.47 percent year-on-year. Raytron Technology's first-half net profit is expected to increase by 242 percent to 270 percent. Haozhi Electromechanical's semi-annual net profit rose 267 percent year-on-year.

Two major state-owned capital operation platforms, China Reform Holdings and China Chengtong Holdings, simultaneously announced large-scale increased holdings of A-shares, injecting strong confidence into the capital market. China Reform Holdings' investment arm has already used over 50 billion yuan from special re-lending for stock buybacks and increased holdings along with supporting funds, and will continue to increase holdings in central enterprise stocks. China Chengtong and its affiliated entities have recently purchased nearly 10 billion yuan of state-owned central enterprise and technology company stocks and ETFs, and will continue to make large additional purchases. Driven by this, many central and state-owned enterprises and industry leaders have intensively disclosed buyback and increased holding plans. Among them, the controlling shareholder of China Coal Energy plans to increase holdings by 50 million to 100 million yuan, the controlling shareholder of CRRC Corporation has an increased holding plan of 150 million to 300 million yuan, the chairman of NARI Technology proposed a buyback of 500 million to 1 billion yuan, the controlling shareholder of China State Construction Engineering plans to increase holdings by 500 million to 1 billion yuan, Huayou Cobalt plans a buyback of 600 million to 1 billion yuan, and the chairman of SANY Heavy Industry proposed a buyback of 400 million to 800 million yuan. Since July, nearly 300 listed companies have implemented share buybacks, with cumulative buyback scale exceeding 15 billion yuan. Midea Group, TCL Technology, and Haier Smart Home rank top three in buyback scale, totaling nearly 4.9 billion yuan. Meanwhile, nearly 120 listed companies have seen net increased holdings by significant shareholders, with the chemical sector becoming the main battleground, and Jiangsu Eastern Shenghong receiving over 300 million yuan in increased holdings. Industry insiders point out that this round of concentrated increased holdings and buybacks by central and state-owned enterprises is a medium- to long-term strategic layout based on long-term economic resilience and aimed at fostering new quality productive forces, with cancellation-type buybacks expected to become the mainstream model.

Huayou Cobalt announced that the company plans to repurchase shares through centralized bidding, with a repurchase amount of no less than 600 million yuan and no more than 1 billion yuan, at a price not exceeding 50 yuan per share, to safeguard company value and shareholder equity. The repurchase period is within three months from the date of board approval.

On the evening of July 20, multiple listed companies on the Shanghai and Shenzhen stock exchanges released important announcements. Xiamen Tungsten expects its net profit attributable to shareholders of the listed company in the first half of 2026 to be approximately 2.216 billion yuan, a year-on-year increase of about 128.62 percent. Redick announced that its actual controller, chairman and general manager Shen Renrong, received a decision on bail pending trial from the Hangzhou Public Security Bureau on July 20, 2026, due to suspected insider trading. The bail period starts from July 20, 2026. This matter only involves Shen Renrong personally and is unrelated to the company. Currently, the company's production and operations are normal. In addition, several companies disclosed their half-year results. Raytron Technology expects its net profit in the first half to increase by 242 to 270 percent year-on-year. Haozhi Electromechanical achieved a net profit of 232 million yuan, up 266.57 percent year-on-year. Haitong Development posted a net profit of 523 million yuan, a year-on-year increase of 502.60 percent. In terms of buybacks and shareholding increases, Huayou Cobalt plans to repurchase shares worth 600 million to 1 billion yuan. Sany Heavy Industry's chairman proposed a buyback of 400 million to 800 million yuan. China State Construction's controlling shareholder intends to increase its shareholding by 500 million to 1 billion yuan.

ST Hezong recently received an Enforcement Notice delivered by the Jiaxing Intermediate People's Court of Zhejiang Province. Due to a contract dispute with Zhejiang Huayou Cobalt, the company is required to fulfill obligations determined by an effective judgment, with an enforcement target of approximately 166 million yuan plus interest, and an additional enforcement fee of about 232,400 yuan. The case originated from Huayou Cobalt's capital increase in 2022 into the company's subsidiary, Hunan Yacheng New Energy, under which the company had a conditional equity buyback obligation but failed to perform on time. Huayou Cobalt filed a lawsuit in June 2025, and the Zhejiang High People's Court has issued a final judgment. The company stated that the impact of this case on current or future profits will be subject to the annual audit report, and it will actively take measures to safeguard the interests of the company and shareholders.