China Hongqiao Group climbs to one-year high as 2023 profit surges

China Hongqiao

25/03/2024 06:26

** Shares of aluminium producer China Hongqiao Group Ltd
 1378.HK  jump 16.9% to HK$8.64, their highest since March 2,
2023
    ** Stock marks the biggest one-day pct gain since November
2017, is biggest pct gainer in Hang Seng Index  .HSI  and Hong
Kong's material index  .HSCIM , and is second-biggest gainer in
Hang Seng Composite Index  .HSCI  
    ** Co says 2023 net profit surged 31.7% YoY to 11.46 bln
yuan ($1.59 bln) with revenue up 1.5% YoY to 133.62 bln yuan and
co proposes a final dividend of HK$0.29 per share, compared with
a final dividend of HK$0.10 each in the previous year
    ** Hong Kong's material index  .HSCIM  surges 3.3%, while
Hang Seng Composite Index  .HSCI  and Hang Seng Index  .HSI 
both gain 0.1%
    ** Stock up 31.8% YTD  
   ($1 = 7.2057 Chinese yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))