Core Viewpoint - China Hongqiao (1378.HK) has seen significant stock performance, reaching a historical high with a market capitalization nearing HKD 228 billion, driven by strong financial results and positive analyst outlooks [1] Financial Performance - In the first half of the year, China Hongqiao reported revenue of approximately HKD 81.04 billion, a year-on-year increase of 10.1% [1] - The net profit for the same period was around HKD 12.36 billion, reflecting a year-on-year growth of about 35% [1] Analyst Revisions - Goldman Sachs raised its target price for China Hongqiao from HKD 12.5 to HKD 19.6, citing a 31% year-on-year increase in recurring net profit to HKD 14.5 billion, driven by better-than-expected alumina profits [1] - Jefferies also increased its target price from HKD 17.7 to HKD 26.9, highlighting a new share buyback plan of at least HKD 3 billion and a commitment to a dividend payout ratio of no less than 60% [1] Future Projections - Goldman Sachs adjusted its recurring profit forecasts for 2025 to 2027 upwards by 13-39%, reflecting improved alumina profits and rising aluminum price differentials in China [1] - Jefferies included projected profits from the Simandou iron ore joint venture, expected to ship by the end of 2025, with a full production cycle of approximately two years [1]
港股异动丨中国宏桥盘中涨超3% 股价创历史新高 绩后获多家大行上调目标价