China Hongqiao Group (HKG:1378) expected its net profit for the first half of the year to increase 220%, from the 2.97 billion yuan net profit logged a year earlier, according to a filing with the Hong Kong bourse.
The guidance was made due to the rise in the prices of aluminum alloy and alumina products and increased sales volumes, the aluminum producer said in the Thursday filing.
The company's shares rose over 1% in recent trade.
Price (HKD): $11.94, Change: $+0.16, Percent Change: +1.36%
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