Group 1 - The company is covered by CMB International with a "Buy" rating and a target price of HKD 32 [1] - The company's electricity costs are currently at a low level, and the ongoing production of wind and solar self-supplied power is expected to further reduce production costs by 2026-2027 [1] - The company has received a new round of investment from the Public Investment Fund (PIF) in Saudi Arabia for its aluminum capacity construction project, providing confidence for project execution [1] Group 2 - The overall industry is expected to experience tight supply, which will provide strong support for aluminum prices [1] - It is estimated that a 1% increase in aluminum prices could enhance the company's earnings by approximately 2.5% in 2026 [1] - The company has the opportunity to be included in the Stock Connect program in March this year, which will further broaden its investor base [1]
大行评级丨招银国际：首予创新实业“买入”评级及目标价32港元