Guosen Securities: Steady profit and prominent dividend attributes Maintaining a "buy" rating for China Hongqiao (01378.HK)

According to the Wisdom Finance and Economics app, Cinda Securities released a research report stating that it maintains a "buy" rating on China Hongqiao (01378.HK). Cinda Securities pointed out that domestic electrolytic aluminum supply has reached near capacity limits, and downstream demand remains strong, especially for new energy and ultra-high voltage aluminum. It is recommended to actively go long on aluminum. Although the price of alumina has fallen, profits in the electrolytic aluminum smelting sector are increasing, and China Hongqiao, as an integrated leader in bauxite-alumina-electrolytic aluminum-power plant, has stable profits and clear dividend attributes. In addition, the Simec iron ore mine is planned to start production by the end of 2025, and production is expected to double in 2026, at which time the company's resource attributes will become even more prominent.