花旗则认为，氧化铝价格的坚挺态势将持续，并且随着外部氧化铝销量的增长，中国宏桥有望从氧化铝价格的上升中获得更多利益。因此，花旗对中国宏桥维持“买入”评级，目标价14.8港元。Chinahongqiao (01378) rose more than 4% intraday, hitting a high of 14.3 Hong Kong dollars, once again reaching a new high in the market. As of the time of publication, it rose by 4.55% to 14.24 Hong Kong dollars, with a turnover of 0.402 billion Hong Kong dollars.
According to the Securities Times APP, Chinahongqiao (01378) rose more than 4% intraday, reaching a high of 14.3 Hong Kong dollars, once again hitting a new high in the market. As of the time of publication, it rose by 4.55% to 14.24 Hong Kong dollars, with a turnover of 0.402 billion Hong Kong dollars.
On the news front, Chinahongqiao previously released the performance of Shandong Hongqiao for the first three quarters of 2024, with revenue of 110.068 billion yuan, a year-on-year increase of 12.47%; net income of 15.754 billion yuan, a year-on-year increase of 141.43%. Bank of America estimates that Shandong Hongqiao will contribute 5.5 billion yuan to Chinahongqiao's net income attributable to the parent company in the third quarter. Taking into account the estimated profits from Indonesia and Guinea businesses of 0.4 billion yuan, Bank of America estimates that the total net income attributable to the parent company of Chinahongqiao in the third quarter will be approximately 5.9 billion yuan.
Citi believes that the strong trend in aluminum prices will continue, and with the growth of external aluminum oxide sales, Chinahongqiao is expected to benefit more from the rise in aluminum prices. Therefore, Citi maintains a 'buy' rating on Chinahongqiao with a target price of 14.8 Hong Kong dollars.
