Core Viewpoint - China Hongqiao (01378) has seen a significant stock price increase, attributed to recent production cuts in overseas electrolytic aluminum facilities, indicating a tightening supply-demand balance in the industry [1] Company Summary - China Hongqiao's stock rose nearly 7%, currently trading at HKD 29.24 with a transaction volume of HKD 477 million [1] - The company is recognized as a leading player in the electrolytic aluminum sector, benefiting from improved profitability and a trend towards stable dividends [1] Industry Summary - Recent production cuts at overseas electrolytic aluminum plants, including Century Aluminum's Grundartangi facility and the potential maintenance shutdown of Mozambique's Mozal plant, are expected to impact global supply for over six months [1] - According to Huatai Securities, the global electrolytic aluminum supply-demand gap may widen to 800,000 tons by 2026, with LME aluminum prices projected to exceed USD 3,200 per ton next year [1] - Tianfeng Securities notes that the tightening supply-demand dynamics are leading to significant improvements in profit margins for electrolytic aluminum producers, with a clear trend towards increased dividends across the industry [1]