MB-CHQG@EC2610A

Zhongguo Hongqiao Releases 2025 ESG Report with Carbon Goals

Shandong Hongqiao Aluminum reports 37.56% growth in net profit for Q1

Shenwan Hongyuan Maintains 增持 Rating for China Hongqiao

Guolian Minsheng Securities Recommends China Hongqiao Stock with Profit Forecast for 2026-2028

China Hongqiao Announces 2025 Annual Report, Net Profit Up 1.2% YoY

Guotai Junan International Maintains Buy Rating and Target Price for China Hongqiao

Citi Raises Target Price for China Hongqiao to HKD 48, Maintains Buy Rating

West China Securities: China Hongqiao's 2025 Performance Growth, Maintain 'Buy' Rating

China Hongqiao repurchased 2.439 million shares for HKD 83.7584 million

Jefferies Maintains Buy Rating and Adjusts Target Price for China Hongqiao

China Hongqiao repurchased 3.187 million shares for HKD105 million

UBS and DBS Maintain Buy Rating on China Hongqiao Group

ChinaHongqiao Group Repurchased 25,895,500 Shares

Zhuoan Hongqiao's stock price falls to a three-month low due to earnings falling short of expectations

China Hongqiao Reports 1.2% Profit Growth and 2.5% Dividend Increase

China Hongqiao Sees 1% Profit Growth Last Year with Dividend Up 2.4%

CHINAHONGQIAO released FY2025 Q3 earnings on March 20 (BJT), actual revenue HKD 44.45 B, actual EPS HKD 0.586

CHINAHONGQIAO released FY2025 9 Months earnings on March 20, 2026 (BJT), with actual revenue of HKD 132.19 B and actual EPS of HKD 2.0087

CHINAHONGQIAO released FY2025 earnings on March 20 After-Market (BJT), actual revenue HKD 177.45 B (forecast HKD 175.92 B), actual EPS HKD 2.6058 (forecast HKD 2.8534)

CHINAHONGQIAO released FY2025 Q4 earnings on March 20 After-Market (BJT), actual revenue HKD 45.21 B, actual EPS HKD 0.5961

QINGDAO HLDGS

QIANHAI HEALTH

GUOXIA TECH

BITSTRAT HLDGS

KIN SHING HLDGS

AV CONCEPT HOLD

DATRONIX HOLD

HAITIAN ANTENNA

PRODUCTIVE TECH

INVESTECH HLDGS

601600

600219

01378

02600

CENX

KALU

Analysts from Mercuria, Goldman, and JPMorgan are raising alarms about a significant supply shock in the global aluminum market, primarily due to disruptions in the Gulf region. Mercuria's Nick Snowdon described it as the largest supply shock in base metals since 2000, with aluminum prices hitting a four-year high. The Gulf region, accounting for 9% of global supply, faces a potential 2 million-ton deficit by year-end, exacerbated by the US-Iran conflict. Analysts warn that the US and Europe, reliant on Middle Eastern aluminum, are particularly vulnerable to this crisis.

ZeroHedge

CHALCO

NANSHAN ALUMINIUM

CHINAHONGQIAO

Alcoa

Century Aluminum

Kaiser Aluminum

Mercuria, Goldman, JPMorgan See Major Aluminum Market Shock

BABA

09988

02513

01810

Hong Kong stocks fell today, with the Hang Seng Index dropping 140 points to close at 25,752 points. Alibaba and Xiaomi saw their stock prices decline by 4.3% and 5.6%, respectively. The market is focused on the US-Iran ceasefire negotiations, which are affecting US stock performance. Northbound trading recorded a net inflow of CNY 12.593 billion, with total turnover decreasing to CNY 244.977 billion. KNOWLEDGE ATLAS's stock price rose by 7%, while Yangtze Optical Fibre and Cable increased by 6.9%

AASTOCKS

Alibaba

BABA-W

KNOWLEDGE ATLAS

XIAOMI-W

"Market Review" Hong Kong stocks retreat, Alibaba and Xiaomi under pressure, Hongqiao rebounds by 50%

06869

02338

09973

09868

01211

01880

03986

KNOWLEDGE ATLAS(02513) rose 7.02%, with a trading turnover 2.4 Billion HKD, and a year-to-date rose 699.9%. YOFC(06869) rose 6.94%, with a trading turnover 5.3 Billion HKD, and a year-to-date rose 365%. XPENG-W(09868) fell 5.37%, with a trading turnover 1.2 Billion HKD, and a year-to-date fell 15.6%. BYD COMPANY(01211) fell 4.68%, with a trading turnover 3.1 Billion HKD, and a year-to-date rose 6.8%.

- The Hang Seng Index fell by 0.54%, with a year-to-date increase of 0.5%.  
- The Hang Seng Tech Index dropped by 2.06%, showing a year-to-date decline of 12.6%.  
- Notable stock movements include a 7.02% rise for Zhihua (02513) and a 5.37% drop for XPeng Group-W (09868).

Top Gainers & Losers

YOFC

WEICHAI POWER

CHERY AUTO

XPENG-W

BYD COMPANY

CTG DUTY-FREE

GIGADEVICE

Top 5 HK Stock Gainers/Losers (>100B) (4.9)

159876

159871

159881

512400

561330

159880

560860

516650

Citi raised the target price for CHINAHONGQIAO to 48 yuan, maintaining a "Buy" rating. The report pointed out that the aluminum industry outlook is optimistic, with supply tight due to the situation in the Middle East, and recovery of aluminum production capacity will take time. The expected dividend yield for the fiscal year 2026 is 6.4%, and the company focuses on shareholder returns, providing attractive dividend payments and share buyback guidance

Hwabao WP CSI Non-ferrous Metal ETF

Yinhua CSI Non-ferrous Metal ETF

Guotai CSI Non-ferrous Metal ETF

China Southern CSI SWS Non-Ferrous Metal ETF

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

Penghua Guozheng Non-ferrous Metal Industry ETF

Wanjia CSI Industry Non-Ferrous Metal Theme ETF

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

Citigroup raises the target price for CHINAHONGQIAO to 48 yuan, maintains its top pick and gives a "Buy" rating

02899

600714

Goldman Sachs released a research report, updating the investment ratings and target prices for gold mining stocks. China Aluminum's rating was adjusted from sell to neutral, with the target price raised to RMB 12.5; China Hongqiao maintained a neutral rating, with the target price raised to RMB 34; Jiangxi Copper maintained a buy rating, with the target price lowered to RMB 45; MMG maintained a buy rating, with the target price at RMB 13.5; CMOC maintained a buy rating, with the target price at RMB 27; Zijin Mining maintained a buy rating, with the target price at RMB 52; ZHAOJIN MINING maintained a buy rating, with the target price lowered to RMB 43. In the A-share market, China Aluminum's rating was adjusted from sell to neutral, with the target price raised to RMB 12.5; Jiangxi Copper maintained a buy rating, with the target price lowered to RMB 60; CMOC maintained a buy rating, with the target price at RMB 28; Zijin Mining maintained a buy rating, with the target price at RMB 50

ZIJIN MINING

Jinrui Mining

ChinaAMC Gold ETF

ZHONGJIN GOLD

CMOC

Zijin Mining

ZHAOJIN MINING

SD-GOLD

iShares MSCI Global Gold Miners

ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF

JCCL

JIANGXI COPPER

iShares Gold Trust

Us Gbl GLD & Met

Goldman Sachs' Investment Ratings and Target Prices for Gold Mining Stocks (Table)

159980

159608

China Hongqiao Group (SEHK:1378) reported its full year 2025 results, showing sales of CN¥162.35 billion and net income of CN¥22.64 billion. The company proposed a final dividend of HK$1.65 per share, pending shareholder approval. The current share price is HK$36.68, reflecting a P/E ratio of 14.1x, considered undervalued compared to peers. A discounted cash flow model estimates a fair value of HK$106.44 per share, indicating significant undervaluation. However, potential risks include weakening aluminum demand and regulatory changes.

Simplywall

Dacheng Non-Ferrous Metal Futures ETF

GF CSI Rare Metals Theme ETF

Assessing China Hongqiao Group’s Valuation After Full Year Results And Proposed Final Dividend

00098

000807

601702

601677

002578

Emirates Global Aluminium (EGA) stated that a full recovery of aluminum production in Abu Dhabi could take up to 12 months. The company anticipates that some production operations will resume earlier after a final loss assessment. Infrastructure repairs and the gradual restart of production electrolysis cells are necessary. Last week, the company shut down several aluminum production facilities due to an attack by Iran

Wallstreetcn

XINGFA ALUM

Yunnan Aluminium

Huafon Aluminium

Mtalco

Minfa Aluminium

Emirates Global Aluminium: Full recovery of Abu Dhabi aluminum production may take a year

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06690

000333

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On the settlement day of Hong Kong stock index futures, the Hang Seng Index closed at 24,750 points, down 201 points. After the performance announcements, the stock prices of ICBC and CCB rose by 1.8% and 1.9%, respectively. U.S. stocks fell last Friday, while international oil prices rose. Home appliance stocks were under pressure, with Midea down 3.5%, Haier Smarthome down 5.4%, and Hisense down 6.4%. Among aluminum stocks, Chalco and CHINAHONGQIAO rose by 7.3% and 3.7%, respectively

HAIER SMARTHOME

Midea Group

ICBC

MIDEA GROUP

ISHARESHSI

The Hong Kong stock index futures settlement moves downward, ICBC and CCB rise after earnings

00285

002594

BYDDF

Hong Kong stocks opened lower, with the Hang Seng Index down 419 points or 1.7%, reporting at 24,532 points. BYD and its electronic stocks opened lower by 4.6% and 4%, respectively. Among aluminum stocks, China Aluminum and CHINAHONGQIAO opened higher by 5.2% and 6.5%. PetroChina's annual net profit fell by 4.5%, with its stock price opening up by 1.7%. Financial stocks HSBC and Hong Kong Exchanges and Clearing opened lower by 1.7% and 2.2%. AIA launched a USD 1.743 billion share repurchase plan, with its stock price opening flat

BYD ELECTRONIC

BYD Company Limited

"Hong Kong Stocks" The Hang Seng Index opened 419 points lower, BYD-related stocks fell after earnings, aluminum stocks rose significantly

CSTM

The Middle East's largest aluminum plant was attacked, impacting the global aluminum supply chain. Iran's Revolutionary Guard used missiles and drones to strike aluminum plants in the UAE and Bahrain, damaging the core smelter of Emirates Global Aluminium (EGA). Aluminum prices are expected to rise due to supply tightness, putting pressure on the global economy. The Middle East accounts for approximately 9% of global aluminum supply; this attack has severely affected production and exports, and it will take time to restore operations. EGA has reserved metal inventory overseas to maintain supply

- The largest aluminum plant in the Middle East was struck, impacting the global aluminum supply chain.  
- The Iranian Revolutionary Guard confirmed missile and drone strikes on U.S.-related aluminum facilities in the UAE and Bahrain, exacerbating the already tight global aluminum market.  
- As a major supplier, the UAE's EGA faces operational disruptions, which could elevate aluminum prices and intensify economic pressures worldwide.

Constellium SE

Norsk Hydro

RUSAL

"Middle East's Largest Aluminum Plant" Suffers "Major Losses" on Saturday; Unclear Whether Production Has Halted

Shuhang Jiang from Jefferies has maintained a Buy rating on China Hongqiao Group Ltd. (1378) with a price target of HK$43.90. Jiang, a 5-star analyst, has an average return of 90.4% and a 91.30% success rate. Additionally, DBS also issued a Buy rating for the stock with a price target of HK$45.00.

Tip Ranks

GF CSI All Share Materials ETF

China Hongqiao Group Ltd. (1378): New Buy Recommendation for This Basic Materials Giant

UBS report pointed out that CHINAHONGQIAO's fiscal performance for the year 2025 will be affected by non-recurring costs and accounting adjustments, with weak non-operating performance. The financial expenses for the second half of 2025 are higher than market expectations, due to one-time events amounting to 600 million RMB. Management holds an optimistic view on aluminum prices for the next three years, expecting the average prices of aluminum and alumina in 2026 to be 23,500 RMB per ton and 2,740 RMB respectively. UBS maintains a target price of HKD 46.1, with a rating of "Buy."

"Big Banks" UBS: Hongqiao's performance last year was affected by one-time projects and accounting adjustments, with weak non-operating results

HSBC Research pointed out that CHINAHONGQIAO's performance in the fiscal year 2025 is stable but slightly below expectations, with profit margins under pressure and fair value losses on convertible bonds affecting earnings. It maintains a "Buy" rating and a target price of 41 yuan, believing that aluminum is more resilient under macroeconomic uncertainty. Industry valuations have been adjusted downwards, with CHINAHONGQIAO trading at an estimated price-to-earnings ratio of 7.7 times for the fiscal year 2026 and a dividend yield of about 9%. Short-term catalysts include demand recovery, supply disruptions, and policy changes

HSBC Research: CHINAHONGQIAO's Fiscal Year 2025 Performance Slightly Below Expectations

MB-CHQG@EC2610A(28494.HK)

MB-CHQG@EC2610A Stock Performance Chart

Mercuria, Goldman, JPMorgan See Major Aluminum Market Shock

"Market Review" Hong Kong stocks retreat, Alibaba and Xiaomi under pressure, Hongqiao rebounds by 50%

Top 5 HK Stock Gainers/Losers (>100B) (4.9)

Citigroup raises the target price for CHINAHONGQIAO to 48 yuan, maintains its top pick and gives a "Buy" rating

Goldman Sachs' Investment Ratings and Target Prices for Gold Mining Stocks (Table)