China Hongqiao (01378) climbed 4% in the afternoon session, with shares trading at HK$24.46 at the time of writing, and turnover reaching HK$757 million.

Recently, the company released its results for the first half of 2026, and according to a note from Guotou International Securities, the rapid earnings growth was primarily driven by a significant year-on-year increase in aluminium prices during the period, coupled with the company's strong management capabilities and integrated operations.

In the first half, the company recorded gross profit of RMB 27.53 billion, up 32.3% year-on-year. Alumina sales volume reached 6.917 million tonnes, an increase of 8.6%, while sales of aluminium alloy deep-processed products totalled 444,000 tonnes, up 23.2% year-on-year.

The brokerage noted that during the period, disruptions to sea freight and rising energy costs reduced capacity in major global electrolytic aluminium production regions. Combined with a substantial increase in demand from energy storage and grid infrastructure, this drove up electrolytic aluminium prices and further widened the price spread between domestic and international markets.