HSBC: Solid fundamentals + attractive dividend yield, maintain "buy" rating on China Hongqiao (01378.HK), raise target price to HK$25.70.

According to the Wise Finance APP, HSBC Holdings released a research report stating that benefiting from the increase in demand, the prices and sales volume of alumina and aluminum have both achieved growth, and China Hongqiao (01378.HK) is expected to have strong performance in the first half of 2025. The bank predicts that although the year-on-year decline in alumina prices in the second half of 2025 may temporarily slow down profit growth, there is an upward risk in aluminum prices supported by strong demand. The bank also pointed out that although the stock price has recently risen, the dividend yield is still attractive. The bank maintains a "buy" rating on China Hongqiao, with a target price raised from HK $20.60 to HK $25.70.