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01378
CHINAHONGQIAO
HKD
34.500-0.480
(-1.37%)
1D
AI Analysis for 01378
AI Analysis
High
34.800
Open
33.900
VWAP
34.24
Vol
45.23M
Mkt Cap
327.50B
Low
33.020
Amount
1.55B
EV/EBITDA(TTM)
7.31
Total Shares
9.92B
EV
47.96B
EV/OCF(TTM)
8.74
P/S(TTM)
1.85
China Hongqiao Group Ltd is a company principally engaged in the manufacturing and sales of aluminum products. Its primary products include molten aluminum alloy, aluminum alloy ingots, aluminum busbars and aluminum alloy processing products. It operates principally in the People’s Republic of China (the PRC), Hong Kong, and overseas countries, including the British Virgin Island (BVI), Indonesia and Cayman Island. The Company is also engaged in the bauxite trading, financial leasing and environmental protection and inspection businesses through its subsidiaries.
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News
6.5
08:18 AMaastocksCiti Anticipates Higher Commodity Prices Will Favor Basic Materials While Straining Auto and Mid-Tier Battery Firms
Commodity Price Impact: Commodity prices have risen significantly, benefiting the basic materials sector in China, particularly suppliers of aluminum, copper, and lithium, with positive ratings for companies like CHALCO and MMG.
Automakers Under Pressure: Rising material costs are expected to increase the production costs for mass-market electric vehicles, with smaller automakers like XPENG and GAC GROUP being more vulnerable compared to larger firms like BYD and Geely.
Battery Industry Outlook: Short-term challenges are anticipated for second-tier battery companies, while CATL is expected to maintain a strong position due to its bargaining power and upcoming production resumption.
Tech Sector Challenges: Xiaomi may face margin pressures from increasing memory costs, which significantly impact the bill of materials for its smartphones, potentially affecting profitability.
4.5
02-02aastocksHSI Declines by 289 Points as Gold and Silver Miners, Resource Stocks, and Chinese Telecoms Weigh Down Market
Hong Kong Stock Market Performance: Hong Kong stocks opened lower, with the HSI down 1.1% at 27,097, the HSCEI down 1.3% at 9,191, and the HSTECH down 1.3% at 5,644.
Decline in Precious Metals: Gold and silver prices saw significant drops, with CHINAGOLDINTL plunging 12.3% and other mining stocks like ZIJIN MINING and SD GOLD also experiencing declines of over 10%.
Resource Stocks Slump: Resource stocks, including JIANGXI COPPER and CHALCO, faced declines between 5.5% and 7.2%, with substantial short selling activity reported.
Telecom Sector Adjustments: Telecom service VAT for major companies like CHINA MOBILE and CHINA UNICOM was adjusted from 6% to 9%, leading to significant stock price drops of up to 9.9% for CHINA UNICOM.
4.5
01-30aastocksHSI Drops 580 Points as Commodity Stocks Decline; CSPC Pharma and CKH Holdings Weigh Down Index
Hong Kong Stock Market Decline: Hong Kong stocks experienced a significant decline, with the HSI dropping 580 points (2.08%) to close at 27,387, while the HSCEI and HSTECH also fell by 2.5% and 2.1%, respectively, amid a total market turnover of $301.612 billion.
Gold and Resource Stocks Performance: Spot gold prices fell over 5%, impacting several gold mining stocks, which tumbled between 10-14%. Resource stocks like Jiangxi Copper and MMG also saw declines of 9-10%, with Jiangxi Copper's short selling ratio reaching 28.3%.
Pharmaceutical Sector Developments: CSPC Pharma's stock dropped 10.2% despite a partnership with AstraZeneca for innovative medicines, involving an upfront payment exceeding $9.3 billion. Other pharma stocks also faced declines ranging from 3.3% to 4.9%.
Corporate News and Market Rumors: CKH Holdings fell 4.6% following a court ruling on port contracts, while New World Development's share price rose 2.2% amid rumors of a potential change in ownership involving Blackstone.
4.5
01-30aastocksHSI Drops 498 Points at Noon; Commodity Shares Tumble; CSPC Pharma Falls Over 12%
Market Reaction to Fed Chair Nominee: The DXY rose following President Trump's announcement of the Fed Chair nominee, while the Hong Kong stock market experienced significant declines, with the HSI dropping 498 points or 1.8% by the morning session's close.
Gold and Mining Stocks Performance: Gold prices fell over 3%, leading to substantial losses in mining stocks such as SD GOLD and ZIJIN GOLD, which plunged 12.9% and 10% respectively, alongside other mining companies experiencing similar declines.
Pharmaceutical Sector Developments: CSPC PHARMA's stock plummeted 12.5% despite a partnership with AstraZeneca for drug development, which included an upfront payment exceeding HKD9.3 billion.
Corporate News and Market Rumors: The Panama Supreme Court ruled contracts for two local ports unconstitutional, negatively impacting CKH HOLDINGS, while rumors of a potential ownership change at NEW WORLD DEV led to a 3.7% increase in its stock price.
4.5
01-30aastocksHSI Declines by 182 Points; Gold and Resource Stocks Fall; NWD Surges Over 5%
Market Performance: The Nasdaq fell by 0.7% due to a drop in Microsoft shares, while the DJIA rose slightly by 0.1%. Hong Kong's stock market also opened lower, with significant declines in various indices.
New World Development Rumors: There are rumors that New World Development is changing ownership, with Blackstone negotiating to become the largest shareholder, leading to a 5.6% increase in its stock price.
Gold and Resource Sector Declines: Gold prices saw a significant drop, affecting stocks like SD Gold and Zhaojin Mining, which opened lower. Other resource companies, including Jiangxi Copper and CMOC, also experienced declines.
Tech Sector Performance: Major tech stocks such as Tencent, Alibaba, and JD.com opened lower, reflecting a broader trend of declines in the technology sector amidst increased short selling activity.
Money Flow
Over the past 66 trading days, overall net money flow is -556.46M, with retail investors contributing 47.51M and major investors adding -443.19M.
Net Buy $ Volume
Net Sell $ Volume
Citi Research
maintain
$39
2026-01-05
Reason
Citi Research maintained a positive outlook on ZIJIN MINING, rating it as a "Buy" with a target price of $39, despite concerns from some investors regarding the retirement of founder and chairman Chen Jinghe. The analysts believe these concerns are misplaced, arguing that Chen's decision to hand over control to the management team is a necessary step for transforming ZIJIN MINING from a "founder-driven" to a "mechanism-driven" state-owned enterprise (SOE). This transition is viewed as essential for the company's future growth and stability, reinforcing Citi's confidence in ZIJIN MINING as one of its top picks in the sector.
Citi Research
Price Target
$39
2026-01-05
maintain
Citi Research maintained a positive outlook on ZIJIN MINING, rating it as a "Buy" with a target price of $39, despite concerns from some investors regarding the retirement of founder and chairman Chen Jinghe. The analysts believe these concerns are misplaced, arguing that Chen's decision to hand over control to the management team is a necessary step for transforming ZIJIN MINING from a "founder-driven" to a "mechanism-driven" state-owned enterprise (SOE). This transition is viewed as essential for the company's future growth and stability, reinforcing Citi's confidence in ZIJIN MINING as one of its top picks in the sector.
HSBC
HSBC Global Research
initiated
2025-12-05
Reason
The analyst rating from HSBC Global Research is based on the following reasons:
1. Robust Demand and Stretched Supply: The report highlights a strong demand for base metals coupled with limited supply, which supports higher prices.
2. Tight Market Balance: The broker notes a tight balance between supply and demand, suggesting potential further upside risk for prices.
3. Favorable Conditions for Aluminum: HSBC favors aluminum stocks due to low inventory levels and a capacity limit of 45 million tons, which are expected to provide solid support for aluminum prices.
4. Positive Long-Term Outlook: The research also expresses a positive long-term outlook for gold and construction materials, indicating confidence in these sectors.
These factors contribute to the Buy ratings assigned to specific stocks, including CHINAHONGQIAO and CHALCO, with target prices set for each.
HSBC
Price Target
2025-12-05
initiated
The analyst rating from HSBC Global Research is based on the following reasons:
1. Robust Demand and Stretched Supply: The report highlights a strong demand for base metals coupled with limited supply, which supports higher prices.
2. Tight Market Balance: The broker notes a tight balance between supply and demand, suggesting potential further upside risk for prices.
3. Favorable Conditions for Aluminum: HSBC favors aluminum stocks due to low inventory levels and a capacity limit of 45 million tons, which are expected to provide solid support for aluminum prices.
4. Positive Long-Term Outlook: The research also expresses a positive long-term outlook for gold and construction materials, indicating confidence in these sectors.
These factors contribute to the Buy ratings assigned to specific stocks, including CHINAHONGQIAO and CHALCO, with target prices set for each.
Morgan Stanley
Morgan Stanley
Overweight
maintain
$30.6
2025-11-18
Reason
Morgan Stanley's analyst rating for CHINAHONGQIAO (01378.HK) is based on several key factors:
1. Short-term Pressure: The report indicates that the company's latest share placing may create slight short-term downward pressure on its stock price.
2. Positive Aluminum Price Outlook: The broker is optimistic about the aluminum price outlook due to:
- Limited Supply Growth: Supply growth is constrained both domestically (due to China's government capacity limits) and internationally (mainly due to power supply issues).
- Resilient Demand: There is strong demand, particularly from the energy storage sector.
3. Industry Fundamentals: The robust fundamentals of the aluminum industry are expected to support further price increases, which would enhance the company's earnings in 2026.
4. Lower Capex Needs: With lower capital expenditure requirements in 2026, Morgan Stanley believes that part of the funds raised from the share placing will be used for share buybacks, which would enhance shareholder returns and support the stock price.
Based on these factors, Morgan Stanley maintained an Overweight rating on CHINAHONGQIAO with a target price of HKD30.6.
Morgan Stanley
Overweight
Price Target
$30.6
2025-11-18
maintain
Morgan Stanley's analyst rating for CHINAHONGQIAO (01378.HK) is based on several key factors:
1. Short-term Pressure: The report indicates that the company's latest share placing may create slight short-term downward pressure on its stock price.
2. Positive Aluminum Price Outlook: The broker is optimistic about the aluminum price outlook due to:
- Limited Supply Growth: Supply growth is constrained both domestically (due to China's government capacity limits) and internationally (mainly due to power supply issues).
- Resilient Demand: There is strong demand, particularly from the energy storage sector.
3. Industry Fundamentals: The robust fundamentals of the aluminum industry are expected to support further price increases, which would enhance the company's earnings in 2026.
4. Lower Capex Needs: With lower capital expenditure requirements in 2026, Morgan Stanley believes that part of the funds raised from the share placing will be used for share buybacks, which would enhance shareholder returns and support the stock price.
Based on these factors, Morgan Stanley maintained an Overweight rating on CHINAHONGQIAO with a target price of HKD30.6.
Morgan Stanley
Morgan Stanley
maintain
$30.6
2025-11-18
Reason
Morgan Stanley's analyst rating for CHINAHONGQIAO (01378.HK) is based on several key factors:
1. Short-term Pressure: The report indicates that the company's share placing will create slight short-term downward pressure on its stock price.
2. Positive Aluminum Price Outlook: The broker is optimistic about the aluminum price outlook due to:
- Limited Supply Growth: Supply growth is constrained both domestically (due to China's government capacity limits) and internationally (mainly due to power supply issues).
- Resilient Demand: There is strong demand, particularly from the energy storage sector.
3. Robust Industry Fundamentals: These factors are expected to support further increases in aluminum prices, which should enhance the company's earnings in 2026.
4. Lower Capex Needs: With lower capital expenditure requirements in 2026, Morgan Stanley believes that part of the funds raised from the share placing will be used for share buybacks, which would enhance shareholder returns and support the stock price.
5. Overweight Rating: Based on these insights, Morgan Stanley maintains an Overweight rating on CHINAHONGQIAO with a target price of HKD30.6.
Morgan Stanley
Price Target
$30.6
2025-11-18
maintain
Morgan Stanley's analyst rating for CHINAHONGQIAO (01378.HK) is based on several key factors:
1. Short-term Pressure: The report indicates that the company's share placing will create slight short-term downward pressure on its stock price.
2. Positive Aluminum Price Outlook: The broker is optimistic about the aluminum price outlook due to:
- Limited Supply Growth: Supply growth is constrained both domestically (due to China's government capacity limits) and internationally (mainly due to power supply issues).
- Resilient Demand: There is strong demand, particularly from the energy storage sector.
3. Robust Industry Fundamentals: These factors are expected to support further increases in aluminum prices, which should enhance the company's earnings in 2026.
4. Lower Capex Needs: With lower capital expenditure requirements in 2026, Morgan Stanley believes that part of the funds raised from the share placing will be used for share buybacks, which would enhance shareholder returns and support the stock price.
5. Overweight Rating: Based on these insights, Morgan Stanley maintains an Overweight rating on CHINAHONGQIAO with a target price of HKD30.6.
CMBI
CMBI
upgrade
$27 -> $39
2025-11-12
Reason
The analyst rating for CHINAHONGQIAO (01378.HK) is maintained at "Buy" due to several favorable factors highlighted in the report by CMBI. The reasons include:
1. Near Maximum Production Capacity: The company is nearly reaching its maximum aluminum production capacity in China, which positions it well in the market.
2. Strong Demand: There is robust demand for electric vehicles (EVs), energy, electronics, and other products, which supports the company's growth prospects.
3. Stable Raw Material Costs: The relative stability of raw material costs is beneficial for maintaining profit margins.
4. Strong Free Cash Flow: The expectation of generating strong free cash flow will support a 60% dividend payout ratio, making the stock attractive to investors.
5. Attractive Valuation: Despite a recent increase in share price, the current price is still considered attractive, with a dividend yield of approximately 6%.
As a result, CMBI has elevated its target price for the stock from $27 to $39, reinforcing the positive outlook for CHINAHONGQIAO.
CMBI
Price Target
$27 -> $39
2025-11-12
upgrade
The analyst rating for CHINAHONGQIAO (01378.HK) is maintained at "Buy" due to several favorable factors highlighted in the report by CMBI. The reasons include:
1. Near Maximum Production Capacity: The company is nearly reaching its maximum aluminum production capacity in China, which positions it well in the market.
2. Strong Demand: There is robust demand for electric vehicles (EVs), energy, electronics, and other products, which supports the company's growth prospects.
3. Stable Raw Material Costs: The relative stability of raw material costs is beneficial for maintaining profit margins.
4. Strong Free Cash Flow: The expectation of generating strong free cash flow will support a 60% dividend payout ratio, making the stock attractive to investors.
5. Attractive Valuation: Despite a recent increase in share price, the current price is still considered attractive, with a dividend yield of approximately 6%.
As a result, CMBI has elevated its target price for the stock from $27 to $39, reinforcing the positive outlook for CHINAHONGQIAO.
Citi
upgrade
$35 -> $38
2025-11-11
Reason
The analyst rating is based on the significant cost advantage that Chinese aluminum companies have due to lower power tariffs compared to India, the US, and Europe. This advantage is expected to reduce production costs by RMB1,200-3,600 per ton. Additionally, while overseas markets are experiencing power shortages and rising tariffs, China's power supply remains sufficient, which BofA Securities anticipates will further expand this cost advantage in the coming years. As a result, the earnings forecasts for companies like CHINAHONGQIAO and CHALCO have been raised, leading to reiterated "Buy" ratings and increased target prices.
Citi
Price Target
$35 -> $38
2025-11-11
upgrade
The analyst rating is based on the significant cost advantage that Chinese aluminum companies have due to lower power tariffs compared to India, the US, and Europe. This advantage is expected to reduce production costs by RMB1,200-3,600 per ton. Additionally, while overseas markets are experiencing power shortages and rising tariffs, China's power supply remains sufficient, which BofA Securities anticipates will further expand this cost advantage in the coming years. As a result, the earnings forecasts for companies like CHINAHONGQIAO and CHALCO have been raised, leading to reiterated "Buy" ratings and increased target prices.
Citi
NULL
to
Buy
upgrade
$36
2025-11-05
Reason
Citi's analyst rating for CHINAHONGQIAO (01378.HK) is based on several key factors:
1. Growth in Aluminum Smelting Profit Margins: Citi expects the company to benefit from continued growth in profit margins within the aluminum smelting sector.
2. Commitment to Shareholder Returns: The management's commitment to enhancing shareholder returns through dividends and share buybacks is viewed positively.
3. Focus on Green Power Supply: The company's initiative to seek more green power supply within China aligns with sustainability trends, which can enhance its market position.
4. Cautious Outlook on Expansion: While the company is cautious about expanding aluminum capacity in Indonesia, this aligns with the broader industry dynamics that suggest a tightening of aluminum supply due to China's capacity cap policy.
5. Industry Outlook: Citi maintains a positive outlook on the aluminum industry as a whole, predicting that profit margins will remain elevated due to limited supply expansion.
As a result of these factors, Citi has raised its target price for CHINAHONGQIAO and assigned a Buy rating, making it the broker's top pick in the industry.
Citi
NULL
to
Buy
Price Target
$36
2025-11-05
upgrade
Citi's analyst rating for CHINAHONGQIAO (01378.HK) is based on several key factors:
1. Growth in Aluminum Smelting Profit Margins: Citi expects the company to benefit from continued growth in profit margins within the aluminum smelting sector.
2. Commitment to Shareholder Returns: The management's commitment to enhancing shareholder returns through dividends and share buybacks is viewed positively.
3. Focus on Green Power Supply: The company's initiative to seek more green power supply within China aligns with sustainability trends, which can enhance its market position.
4. Cautious Outlook on Expansion: While the company is cautious about expanding aluminum capacity in Indonesia, this aligns with the broader industry dynamics that suggest a tightening of aluminum supply due to China's capacity cap policy.
5. Industry Outlook: Citi maintains a positive outlook on the aluminum industry as a whole, predicting that profit margins will remain elevated due to limited supply expansion.
As a result of these factors, Citi has raised its target price for CHINAHONGQIAO and assigned a Buy rating, making it the broker's top pick in the industry.
Citi
upgrade
$21
2025-07-30
Reason
According to a Citi research report, while investors are concerned about aluminum demand in 2H25, the broker believes that strong aluminum prices will be fortified by China's already high-level aluminum capacity utilization, limited new supply, and low aluminum inventory.
Anticipating CHINAHONGQIAO (01378.HK)
-0.100 (-0.468%)
Short sellingxa0$142.84M;xa0Ratioxa019.281%
to benefit from high aluminum prices, the broker is upbeat about its strong earnings prospects and attractive dividend returns and continues to view the company as its industry top pick.
Related News
Citi: CN Massive Hydropower Project Boosts Macro Optimism; ST Metal Demand Growth Remains Limited
Citi gave CHINAHONGQIAO a Buy rating with a target price raised from HKD21 to HKD25.2.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-30 16:25.)
Citi
Price Target
$21
2025-07-30
upgrade
According to a Citi research report, while investors are concerned about aluminum demand in 2H25, the broker believes that strong aluminum prices will be fortified by China's already high-level aluminum capacity utilization, limited new supply, and low aluminum inventory.
Anticipating CHINAHONGQIAO (01378.HK)
-0.100 (-0.468%)
Short sellingxa0$142.84M;xa0Ratioxa019.281%
to benefit from high aluminum prices, the broker is upbeat about its strong earnings prospects and attractive dividend returns and continues to view the company as its industry top pick.
Related News
Citi: CN Massive Hydropower Project Boosts Macro Optimism; ST Metal Demand Growth Remains Limited
Citi gave CHINAHONGQIAO a Buy rating with a target price raised from HKD21 to HKD25.2.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-30 16:25.)
Valuation Metrics
Forward PE
5Y Average PE
5.35
Current PE
10.79
Overvalued PE
7.24
Undervalued PE
3.47
Forward EV/EBITDA
5Y Average EV/EBITDA
3.91
Current EV/EBITDA
7.10
Overvalued EV/EBITDA
4.92
Undervalued EV/EBITDA
2.89
Forward PS
5Y Average PS
0.68
Current PS
1.91
Overvalued PS
1.00
Undervalued PS
0.37
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