First Shanghai Securities Starts China Hongqiao Group at Buy With HK$16.80 Price Target

MT Newswires03:07 ET · Ratings

China Hongqiao Group Limited's (HKG:1378) Prospects Need A Boost To Lift Shares

Simply Wall StJan 21 17:06 ET

[Brokerage Focus] FIRST SHANGHAI gives CHINAHONGQIAO (01378) an initial "Buy" rating, citing a decline in raw material prices that boosts the company's profits.

Jinwu Financial News | FIRST SHANGHAI issued a Research Report indicating that CHINAHONGQIAO (01378) subsidiary ShanDong Hongqiao achieved revenue of 110.1 billion yuan in the first three quarters, a year-on-year increase of 12.5%; achieved a Net income of 15.8 billion yuan, a year-on-year increase of 141%. In Q3, ShanDong Hongqiao achieved revenue of 38 billion yuan, a year-on-year increase of 13.9%, and a Net income of 5.96 billion yuan, a year-on-year increase of 38%, an increase of 9.4% compared to Q2's 5.45 billion yuan. The increase in revenue is mainly benefited from the rise in prices of electrolytic Aluminum and alumina. In the third quarter, the domestic spot average price of electrolytic Aluminum was 19,550 yuan/ton, fluctuating at a high level.

Jinwu Financial NewsJan 21 03:18 ET

Guolian: Maintains "Buy" rating for CHINAHONGQIAO (01378) as share buybacks demonstrate confidence in development.

Guolian expects CHINAHONGQIAO's net income attributable to the parent company to be 22.317/26.042/27.076 billion yuan for the years 2024-2026.

Zhitong FinanceJan 20 21:22 ET

Capital Trend Statistics for Hong Kong Stock Connect (T+2) | January 21

Capital Trend of Hong Kong Stock Connect | January 21.

Zhitong FinanceJan 20 18:31 ET

Citigroup: Multiple factors Bullish, raises CHINAHONGQIAO (01378) Target Price to 15 Hong Kong dollars.

Citi maintains a "Buy" rating on CHINAHONGQIAO and raises the Target Price from HKD 14.8 to HKD 15.

Zhitong FinanceJan 20 00:44 ET