Core Viewpoint - Huaxin Securities predicts that China Hongqiao's revenue and net profit will grow steadily from 2025 to 2027, with a strong buy rating based on robust aluminum prices and significant share buybacks [1] Financial Performance - In H1 2025, the company reported a revenue of 81.04 billion yuan, a year-on-year increase of 10.1%, and a net profit of 12.36 billion yuan, up 35% year-on-year [2] - The gross margin improved to 25.7%, an increase of 1.50 percentage points, while the net margin reached 16.7%, up 3.1 percentage points [2] Sales and Pricing - The average selling price for alumina products was approximately 3,243 yuan/ton, a year-on-year increase of about 10.3%, while aluminum alloy products and aluminum alloy processing products saw price increases of 2.7% and 2.9%, respectively [3] - Sales volume for alumina products rose to 6.368 million tons, a 15.6% increase year-on-year, while aluminum alloy products and aluminum alloy processing products saw sales increases of 2.4% and 3.5%, respectively [3] Business Segmentation - In H1 2025, revenue contributions from aluminum alloy products, alumina, aluminum alloy processing products, and steam were 64.0%, 25.5%, 10.0%, and 0.5%, respectively [3] - The total gross profit was 20.81 billion yuan, a year-on-year increase of 16.9%, with gross profit contributions from aluminum alloy products, alumina, and aluminum alloy processing products being 62.9%, 28.6%, and 9.0%, respectively [3] Share Buyback and Cash Flow - The company spent 2.6 billion HKD to repurchase 187 million shares in H1 2025, reflecting confidence from the board and management in the company's long-term strategy [4] - Operating cash flow reached 22.31 billion yuan, while investment and financing activities resulted in net outflows of 9.41 billion yuan and 8.97 billion yuan, respectively [4] - Financial expenses decreased by 17.7% to 1.28 billion yuan, with a debt-to-asset ratio of 49.1%, up 0.9 percentage points from December 31, 2024 [4]

Core Viewpoint - China Hongqiao (01378.HK) announced a share buyback of 300,000 shares at a total cost of HKD 7.5941 million, with prices ranging from HKD 25.18 to HKD 25.46 per share [2] Group 1 - The company executed the buyback on October 14, 2025 [2] - The total expenditure for the buyback was HKD 7.5941 million [2] - The price range for the repurchased shares was between HKD 25.18 and HKD 25.46 [2]

Group 1 - The company China Hongqiao (01378) announced a share buyback plan [1] - The total amount allocated for the buyback is HKD 7.5941 million [1] - The company plans to repurchase 300,000 shares at a price range of HKD 25.18 to 25.46 per share [1]

Group 1 - The company China Hongqiao (01378.HK) announced a share buyback on October 14, 2025, spending HKD 7.5941 million to repurchase 300,000 shares [1] - The buyback price ranged from HKD 25.18 to HKD 25.46 per share [1]

智通财经APP讯，中国宏桥(01378)发布公告，于2025年10月14日该公司斥资759.41万港元回购30万股， 回购价格为每股25.18-25.46港元。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 FF305 第 2 頁 共 7 頁 v 1.3.0 公司名稱： 中國宏橋集團有限公司 呈交日期： 2025年10月15日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 01378 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 ...

格隆汇10月10日丨中国宏桥(01378.HK)公布，2025年10月10日，公司注销8.8万股已回购股份。 ...

中国宏桥(01378)发布公告，该公司于2025年10月10日注销8.8万股已回购股份。 ...

智通财经APP讯，中国宏桥(01378)发布公告，该公司于2025年10月10日注销8.8万股已回购股份。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國宏橋集團有限公司 呈交日期： 2025年10月10日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | | 是 | | | | 證券代號 (如上市) | 01378 | 說明 | | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | | ...