China Qinfa (00866.HK) plummeted nearly 30% yesterday and rebounded more than 4% today. As of the time of writing, it was up 3.8% at HK$1.91, with a trading volume of HK$103 million.
Zhitong Finance APP reported that China Qinfa (00866.HK) plummeted nearly 30% yesterday and rebounded more than 4% today. As of the time of writing, the stock was up 3.8% at HK$1.91, with a trading volume of HK$103 million.
On the news front, Indonesian President Prabowo announced that all export sales of strategic natural resource commodities must be managed through a single-window system operated by state-owned enterprises designated by the government. However, Prabowo emphasized that the new policy does not involve compulsory acquisition or nationalization of private assets, but rather provides a unified marketing and service platform. Export revenues generated in global markets will be fully returned to the relevant commodity producers.
Publicly available information indicates that China Qinfa is Indonesia’s largest underground coal mining operator. Its core assets include five major mining areas: SDE, TSE, PSE, among others. The SDE No. 1 Mine is Indonesia’s first underground coal mine with an annual capacity exceeding ten million tonnes. The TSE coal mine holds approximately one billion tonnes of total resources and 37.9 million tonnes of recoverable reserves. In 2025, the SDE mine produced 5.42 million tonnes of run-of-mine coal, representing a 111% year-on-year increase, and 3.147 million tonnes of washed coal, surging by 922% year-on-year.
