UB#CHQG RP2812C

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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

AASTOCKS

CHINAHONGQIAO

HAIER SMARTHOME

Midea Group

ICBC

CHALCO

MIDEA GROUP

ISHARESHSI

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

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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

Mtalco

BYD ELECTRONIC

BYD COMPANY

NANSHAN ALUMINIUM

Century Aluminum

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.

Wallstreetcn

Constellium SE

XINGFA ALUM

Norsk Hydro

Huafon Aluminium

Alcoa

Kaiser Aluminum

RUSAL

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

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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

Dacheng Non-Ferrous Metal Futures ETF

Yinhua CSI Non-ferrous Metal ETF

GF CSI Rare Metals Theme ETF

GF CSI All Share Materials ETF

China Southern CSI SWS Non-Ferrous Metal ETF

Wanjia CSI Industry Non-Ferrous Metal Theme ETF

Guotai CSI Non-ferrous Metal ETF

Hwabao WP CSI Non-ferrous Metal ETF

ChinaAMC CSI Subdivision Non-ferrous Metal Sub-Industry ETF

Guotai CSI Non-Ferrous Metal Kuangye Theme ETF

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

Jefferies Adjusts China Hongqiao Group's Price Target to HK$43.90 from HK$43.80, Keeps at Buy

marketscreener

Jefferies Adjusts China Hongqiao Group's Price Target to HK$43.90 from HK$43.80, Keeps at Buy

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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."

Penghua Guozheng Non-ferrous Metal Industry ETF

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

China Hongqiao Buys Back Shares

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

UBS has maintained a Buy rating on China Hongqiao Group Ltd. (1378) with a price target of HK$46.10, while the shares closed at HK$34.50. The analyst consensus suggests a Strong Buy rating with an average price target of HK$40.84, indicating an 18.38% upside. Additionally, DBS also issued a Buy rating with a price target of HK$29.00.

China Hongqiao Group Ltd. (1378) Receives a Buy from UBS

China Hongqiao launches HK$808 million share buyback as board signals confidence in valuation

China Hongqiao launches HK$808 million share buyback as board signals confidence in valuation

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COSCO SHIP ENGY(01138) rose 2.55%, with a trading turnover 1.0 Billion HKD, and a year-to-date rose 105.2%. GEELY AUTO(00175) rose 2.46%, with a trading turnover 4.7 Billion HKD, and a year-to-date rose 11.7%. MINIMAX-W(00100) fell 9.17%, with a trading turnover 2.0 Billion HKD, and a year-to-date rose 455.5%. MONTAGE TECH(06809) fell 8.37%, with a trading turnover 304.4 Million HKD, and a year-to-date rose 61.8%.

- The Hang Seng Index dropped 3.54%, with a year-to-date decline of 4.9%; the Hang Seng Technology Index fell 3.28%, down 14.6% for the year.  
- China Merchants Energy (01138) rose 2.55% with a transaction volume of HKD 1.05 billion, marking a year-to-date increase of 105.2%.  
- Geely Automobile (00175) gained 2.46% with a transaction volume of HKD 4.65 billion, up 11.7% year-to-date, while MINIMAX-W (00100) and Lanyu Technology (06809) saw declines of 9.17% and 8.37%, respectively.

Top Gainers & Losers

COSCO SHIP ENGY

GEELY AUTO

CGN POWER

CHERY AUTO

CNOOC

MINIMAX-W

MONTAGE TECH

SD GOLD

Top 5 HK Stock Gainers/Losers (>100B) (3.23)

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Closing today, the three major Hong Kong stock indices collectively retreated, with the Hang Seng Index closing down 3.54%, indicating a significant cooling of market risk appetite. In terms of sectors, internet, retail, and hardware sectors generally declined, with Tencent Holdings and Alibaba leading the fall among large-cap stocks. Overall turnover remained active, with funds concentrated in leading enterprises, reflecting a cautious sentiment and structural adjustments in the market as key resistance levels were not broken

- At market close, Hong Kong's three major indices declined, reflecting reduced risk appetite, with the Hang Seng Index at 24,382.47 points, down 3.54%.  
- The recent economic recovery appears limited, particularly in retail and foreign trade, leading to cautious investor sentiment amid overall stable macroeconomic conditions.  
- Notably, Tencent and Alibaba saw significant declines, while Geely performed positively, contrasting with the overall market trend.

Market Heartbeat

TENCENT

BABA-W

BYD COMPANY-R

XIAOMI-W

PING AN

ZIJIN MINING

Hong Kong Stocks Close: Hang Seng Index Down 3.54% as Tencent and Alibaba Lead Declines; Hardware Sector Weakens

Citi released a research report stating that CHINAHONGQIAO's net profit is expected to be RMB 22.6 billion in 2025, with an annual growth of 1%, which aligns with the bank's forecast of 93% and the market consensus of 91%. Although operating profit met expectations, net profit fell short mainly due to high financial expenses, other costs, and an elevated effective tax rate. Revenue grew by 4% to RMB 162 billion, benefiting from rising aluminum product prices. The company plans to declare a final dividend of HKD 1.65 per share, with an annual payout ratio of approximately 64%. Citi maintains a "Buy" rating on CHINAHONGQIAO, with a target price of HKD 36

"Big Banks" Citigroup: Hongqiao's operating profit last year met expectations, but net profit fell short of expectations

UB#CHQG RP2812C(58083.HK)

UB#CHQG RP2812C Stock Performance Chart

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

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

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

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

Jefferies Adjusts China Hongqiao Group's Price Target to HK$43.90 from HK$43.80, Keeps at Buy