China Hongqiao sinks to over 3-month low on FY profit miss

China Hongqiao

23/03/2026 03:21

** Shares of China Hongqiao Group 1378.HK drop 12.6% to HK$30.14, their lowest level since December 16, and on course for the seventh consecutive session of decline

** Stock set for the biggest one-day pct fall since April 7, 2025; top pct loser in Hang Seng Index .HSI, which dips 3.1%

** Chinese aluminium products maker posted a 1.2% y/y rise in 2025 net profit, with revenue up 4% y/y

** Citi maintains a "Buy" rating, saying operating profit is in line, but net profit misses

** "Should shares react negatively to the results, we could see enhanced buy opportunities. We understand the biggest headwind for Hongqiao remains the ongoing Iran conflict, casting doubts on demand sustainability and aluminium price in the near term," - Citi

** YTD, stock down 6.6%

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))