BUZZ-China Hongqiao Group climbs to one-year high as 2023 profit surges

Reuters03-25

** Shares of aluminium producer China Hongqiao Group Ltd

jump 16.9% to HK$8.64, their highest since March 2, 2023

** Stock marks the biggest one-day pct gain since November 2017, is biggest pct gainer in Hang Seng Index and Hong Kong's material index , and is second-biggest gainer in Hang Seng Composite Index

** Co says 2023 net profit surged 31.7% YoY to 11.46 bln yuan ($1.59 bln) with revenue up 1.5% YoY to 133.62 bln yuan and co proposes a final dividend of HK$0.29 per share, compared with a final dividend of HK$0.10 each in the previous year

** Hong Kong's material index surges 3.3%, while Hang Seng Composite Index and Hang Seng Index both gain 0.1%

** Stock up 31.8% YTD

($1 = 7.2057 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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