The Zhitong Finance App learned that Southern Manganese (01091) rebounded more than 9%. As of press release, it had risen 9.62% to HK$0.28, with a turnover of HK$2.32 million. Previously, the company's stock price plummeted 60% on the day trading resumed on February 5.

According to reports, the main business of the Southern Manganese Industry includes manganese ore mining, ore processing and downstream processing in China and Gabon, as well as trade in ore, manganese ore alloys and related raw materials. Zhongtai Securities indicated that non-ferrous commodities will enter another round of “resonance upward”. The resilience of the US economy stems from non-manufacturing industries such as services. With continued interest rate hikes and savings consumption, its resilience will eventually be broken. The job market has given a clear signal: 23Q4-24Q1 may be an important inflection point, and long-term real interest rates in the US will also begin a downward trend.

It is worth noting that the suspension of trading of Southern Manganese began at the end of March 2023, which coincided with the Hong Kong Stock Company's annual reporting season. In the process of auditing its operating data by PricewaterhouseCoopers PricewaterhouseCoopers of Southern Manganese, the company's Ghanaian manganese ore trading business was described as “abnormal”. The accounting firm recommended that the Audit Committee take the lead in forming an independent investigation committee, and that the committee appoint an independent third party investigation agency to assist the committee in investigating certain details of the company's manganese ore trading business in Ghana.