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HK stocks surge: Aluminum industry expected to maintain high level of prosperity, Aluminum Corporation of China (02600) rises more than 5%, Chinahongqiao (01378) rises more than 2%.
Aluminum stocks rose in early trading. As of press time, Aluminum Corporation of China (02600) rose 5.01% to HKD 5.45, and Chinahongqiao (01378) rose 2.57% to HKD 11.98.
Frequent shareholding by major shareholders sends a strong signal, and the value of Chinahongqiao (01378), which has a profitable performance, is about to be released.
"Referencing" the recent bullish moves by the holding shareholder chinahongqiao, investors in the secondary market at this stage may also have optimistic expectations for the future of China Hongqiao, which has strong growth potential.
Brokerage Zhongtai maintains a "buy" rating for Chinahongqiao (01378), stating that the industry chain's prosperity may show a spiral upward trend.
Zhongtai Securities issued a research report stating that on June 13, 2024, Chinahongqiao (01378) released a positive profit forecast. Compared with the same period last year, the net income for the first half of 2024 is expected to increase by about 220%, achieving a net income of approximately 9.51 billion yuan for the first half of 2024. According to the company's announcement, in the first quarter, Shandong Hongqiao, a subsidiary of Chinahongqiao, achieved a net profit of 4.34 billion yuan, and is expected to achieve a net profit of 5.17 billion yuan in the second quarter. The bank pointed out that the prices of electrolytic aluminum and alumina continued to rise, and ton profit expansion is expected.
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HK Stocks Soar | Special Action Plan for Energy-saving and Emission Reduction of Electrolytic Aluminum is Expected to Be Rolled out; Aluminum Corporation of China (02600) Rose More Than 3% and Chinahongqiao (01378) Rose More Than 2%.
Aluminum stocks rose in early trading. As of press time, Aluminum Corporation of China (02600) rose 3.44%, reporting at HKD 5.72; China Hongqiao (01378) rose 2.11%, reporting at HKD 12.58.
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