Movement Alert|CHINAHONGQIAO Rises 3.16% in Regular Trading, Multiple Brokerages Maintain Buy Rating Boosting Market Confidence

Market Focus09-01

On September 1, CHINAHONGQIAO rose 3.16% in regular trading, trading at 23.52 HKD/share, with turnover of approximately HKD 455 million. The rally came as multiple brokerages recently reiterated bullish views on the stock.

Guosheng Securities and CMB International both published research notes maintaining their \"Buy\" ratings, citing the company's record-breaking first-half results. Deutsche Bank, Citi, and Dongwu Securities had previously maintained optimistic outlooks, with Citi setting a target price as high as HKD 48. The company reported H1 revenue of RMB 87.506 billion, up 8.0% year-over-year, and net profit attributable to shareholders of RMB 17.21 billion, up 39.2%. Gross margin expanded from 25.7% to 31.5%, with aluminum alloy product unit gross profit surging 81% to RMB 8,200 per tonne, driven by a 2.4% decline in costs. Additionally, the company repurchased and cancelled approximately HKD 5.286 billion worth of shares in the first half, reinforcing shareholder returns.

Within the Aluminum sector, CHALCO rose 2.51%, while CHUANGXIN IND fell 0.47%, NANSHAN AL INTL dipped 0.15%, and RUSAL and XINGFA ALUM traded flat.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment