Movement Alert|CHALCO Rises 3.1% in Regular Trading, Fitch Upgrades Rating to A- Boosting Market Confidence

Market Focus08-05 15:03

On August 5, CHALCO rose 3.1% in regular trading, trading at HKD 8.68/share, with turnover of HKD 238 million.

On the news front, Fitch Ratings upgraded Chalco HongKong's long-term issuer default rating and senior unsecured rating to 'A-' from 'BBB+' with a stable outlook. The upgrade follows higher ratings assigned to parent Aluminum Corporation of China, reflecting Chalco HongKong's role as the group's sole platform for overseas investment and financing, supported by strong strategic and operational links. Fitch expects EBITDA to remain broadly stable at around USD 550 million, with net leverage staying at approximately 1x.

Additionally, the company forecasts H1 net profit attributable to shareholders of RMB 11.2 billion to 12.2 billion, representing year-over-year growth of 58% to 73%. The controlling shareholder's RMB 1-2 billion share purchase plan is also being implemented. JPMorgan and BlackRock recently increased their holdings in CHALCO H-shares, further underpinning institutional confidence.

(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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