On August 21, CHINAHONGQIAO rose 3.04% in regular trading, trading at HK$23.1/share, with turnover of HK$86.58 million.
On the news front, the company's board of directors convened today to review and approve the interim results for the six months ended June 30. A prior profit alert indicated that first-half net profit is expected to increase approximately 39% year-over-year, primarily driven by higher aluminum alloy product sales prices. Deutsche Bank recently resumed coverage with a \"Buy\" rating and a target price of HK$33, while Dongwu Securities also initiated coverage with a \"Buy\" rating, citing the company's clear domestic and overseas aluminum industry chain layout and sector-leading dividend payout ratio.
The aluminum sector broadly strengthened today, with CHALCO rising 3.84% and NANSHAN AL INTL gaining 2.78%. UBS previously maintained a \"Buy\" rating on CHINAHONGQIAO, noting forecast dividend yields of 10.7% and 11.5% for the current and next fiscal years respectively.
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