Core Viewpoint - China Hongqiao (01378) has seen its stock price rise over 3%, reaching a historical high of 23.04 HKD, driven by strong mid-year performance expectations and favorable market conditions [1] Financial Performance - The company anticipates a net profit attributable to shareholders of approximately 12.36 billion HKD for the first half of the year, representing a year-on-year increase of around 35% [1] - The significant profit growth is primarily attributed to the rise in aluminum prices compared to the previous year, alongside a decrease in the cost of thermal coal [1] Business Operations - China Hongqiao is the second-largest producer of aluminum and alumina globally, with a fully integrated green aluminum industry chain [1] - The company’s operations include power generation, bauxite mining, alumina, primary aluminum, aluminum processing, and recycled aluminum production [1] - The company is diversifying its upstream capacity supply with operations in Guinea, Shandong, and Indonesia, and is in the process of relocating approximately 3 million tons of capacity to Yunnan, which is expected to increase the proportion of green electricity aluminum to 46% [1] Market Position and Outlook - The company has expanded its downstream business into automotive lightweight materials and environmental recycling [1] - CICC has initiated coverage on China Hongqiao with an "outperform" rating and a target price of 23.62 HKD, reflecting confidence in its industry position and attractive dividend returns [1]
港股异动 | 中国宏桥(01378)午后涨超3%再创新高 本周五将发中期业绩 此前预计上半年纯利增长约35%