China's Hongqiao (01378) rose nearly 8% in early trading. As of press release, it was up 6.17% to HK$11.36, with a turnover of HK$133 million.
The Zhitong Finance App learned that China's Hongqiao (01378) rose nearly 8% in early trading. As of press release, it had risen 6.17% to HK$11.36, with a turnover of HK$133 million.
According to the news, China Hongqiao announced the results of the subsidiary Shandong Hongqiao from January to March 2024. The group achieved operating revenue of RMB 34.763 billion during the period, an increase of 6.07% over the previous year; net profit of RMB 4.341 billion, an increase of 629.3% over the previous year.
Haitong International pointed out that domestic demand for electrolytic aluminum recovered beyond expectations in 2023, favorable policies in the fields of real estate and new energy were introduced one after another, and downstream consumer side policy support was strong, driving revenue growth in the face of weakening foreign demand. The total distribution of dividends for the full year of 2023 was 63 HK cents per share, an increase of 23.5% over the previous year. It can still protect shareholders' rights in the context of the company's deleveraging.