The Zhitong Finance App learned that China's Hongqiao (01378) rose by nearly 5%. As of press release, it had risen 4.49% to HK$8.85, with a turnover of HK$229 million.

UBS released a research report stating that it reaffirmed China's Hongqiao “buy” rating, and investors are expected to respond positively because the overall performance exceeded market expectations. Looking ahead, China's Hongqiao provided strong performance guidance. UBS believes this will pose an upward risk to its profit forecast and market consensus.

Citi, on the other hand, said that the company's net profit to mother increased 32% year over year to 11.5 billion yuan, which was 24% higher than the bank's forecast. The main reason was that aluminum production costs were lower. Net profit for the second half of 2023 increased 950% year-on-year and 270% month-on-month to 9 billion yuan. The bank indicated that due to lower coal and electricity costs, strong aluminum smelting profit margins will continue until 2024, and there is room for the company's consensus earnings to rise.