Movement Alert|CHUANGXIN IND Falls 5.02% in Regular Trading, Aluminum Sector Retreats as EGA Refinery Restart Caps Price Upside

Market Focus09:54

On July 24, CHUANGXIN IND fell 5.02% in regular trading, trading at 16.26 HKD/share, with turnover of 9.1063 million HKD. The aluminum sector broadly pulled back, giving up the previous session's gains that were fueled by Middle East geopolitical risk premium and strong interim earnings.

On the news front, EGA announced the restart of its alumina refinery, with institutions noting that the overseas electrolytic aluminum supply gap is expected to narrow, potentially constraining further aluminum price upside. Within the sector, CHALCO fell 3.01%, CHINAHONGQIAO fell 2.92%, and NANSHAN AL INTL fell 2.61%. CHUANGXIN IND had previously issued a profit alert forecasting H1 net profit of RMB 2.2-2.4 billion, up 154.1%-177.2% YoY, driven by higher aluminum selling prices, increased green electricity usage reducing production costs, and lower financing expenses. Morgan Stanley maintains an Overweight rating with a target price of 39.57 HKD, citing overseas capacity expansion as a growth driver.

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