China Thai Securities: China Hong Qiao (01378.HK) Large-Scale High-Frequency Repurchase Demonstrates Confidence Maintains "Buy" Rating

Zhichuan Finance APP learned that Zhongtai Securities released a research report stating that it maintains a "buy" rating on China Hongqiao (01378.HK), considering the improvement in macro sentiment. It raised its aluminum price assumptions for 2025/2026/2027 to 20,500/20,500/21,500 yuan/ton, with aluminum oxide price assumptions maintained at 3,150/3,000/2,800 yuan/ton. It is expected that the company's net profit for 2025-2027 will be 24 billion/24.2 billion/26.9 billion yuan respectively. On August 15, China Hongqiao announced that in the first half of 2025, the company achieved operating income of 81.039 billion yuan, a year-on-year increase of 10%; net profit attributable to shareholders was 12.4 billion yuan, a year-on-year increase of 35%. The performance is consistent with previous forecasts, and the company also announced a new round of share buyback plan, with a total amount of no less than 3 billion Hong Kong dollars.