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<Research>BNP Paribas Initiates Coverage on CHUANGXIN IND with Rating Outperform, TP HKD33
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BNP Paribas has released a report initiating coverage on CHUANGXIN IND (02788.HK) with an Outperform rating and a target price of HKD33. The broker expects CHUANGXIN IND's green energy project in Inner Mongolia to greatly reduce electricity costs, while the Saudi project will drive long-term growth. CHUANGXIN IND is constructing wind and solar power projects in Inner Mongolia, which are estimated to start operation in two phases by the end of 2026. Given that electricity costs account for about 37% of the company's aluminum production costs, the green power production should save around RMB1,000 per ton of aluminum in production costs. AAStocks Financial News |
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