On September 3, CHALCO rose 3.11% in regular trading, trading at 8.86 HKD/share with turnover of 30.71 million HKD, rebounding after a cumulative decline of over 6% in the prior two sessions.
On the news front, the Hong Kong Exchange disclosed that BlackRock increased its long position in CHALCO H-shares from 9.59% to 10.14% on August 28, reversing a recent trend of consecutive reductions and boosting market confidence. Separately, Bank of China International raised its target price to 11.09 HKD while maintaining a Buy rating, and Jefferies also maintained a Buy rating with a target price of 11.50 HKD. Both cited the company's strong first-half performance, with net profit attributable to shareholders surging 67.91% year-over-year to 11.871 billion yuan, and an improvement in the interim dividend payout ratio from 30% to 45%. The controlling shareholder Chinalco and parties acting in concert had also previously disclosed cumulative share purchases totaling approximately 659 million yuan, further reinforcing supportive sentiment around the stock.
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