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G Sachs Downgrades CHALCO (02600.HK) to Sell, Cuts CHINAHONGQIAO (01378.HK) TP to HKD26
Recommend 16 Positive 33 Negative 30 |
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G Sachs said in a research report that recent industry discussions indicate that, driven by strong sector profits, aluminum supply growth in China and outside China is accelerating. It expects China’s production capacity to exceed 48 million tonnes by end-2026. As a result, the broker forecasts the Shanghai Futures Exchange price spread to narrow from RMB8,879 per tonne in 1H26 to RMB4,250 per tonne in 2027, which would lead to a 50% and 40% decline in recurring profits for CHALCO (02600.HK) and CHINAHONGQIAO (01378.HK), respectively, in 2027. G Sachs downgraded CHALCO to Sell and cut its 12-month TP to HKD7.5. Meanwhile, it maintained a Neutral rating on CHINAHONGQIAO and lowered its TP to HKD26. (ad/j) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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