Movement Alert|China Hongqiao Rises 3.09% in Regular Trading, Aluminum Sector Rallies on Strong H1 Earnings Outlook

Market Focus07-22 10:54

On July 22, China Hongqiao rose 3.09% in regular trading, trading at HKD 23.34/share, with turnover of HKD 469 million. The aluminum sector strengthened broadly, with Nanshan Aluminium International up 4.35%, CHALCO up 3.53%, and Chuangxin Industrial up 3.22%.

On the news front, the company previously issued a positive profit alert, forecasting H1 net profit growth of approximately 39% year-over-year, primarily driven by higher aluminum alloy product selling prices. Bank of America Securities noted that implied Q2 net profit to parent rose approximately 20% quarter-over-quarter, indicating accelerating earnings momentum. UBS maintained a Buy rating, projecting attractive dividend yields of 10.7% to 11.5%, while Citi also maintained a Buy rating with a target price of HKD 48. Capital inflows were evident following a sector pullback in the prior session.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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