Chalco Shares Touch Multiyear High After Third-Quarter Results
By Megan Cheah
Aluminum Corp. of China's Hong Kong-listed stock hit a multiyear intraday high after the aluminum producer posted a sharp rise in third-quarter earnings.
The shares on Tuesday morning gained as much as 5.2% to 9.67 Hong Kong dollars, equivalent to US$1.24, for the first time since 2010, LSEG data showed. The stock was last up 2.5% at HK$9.42.
Aluminum Corp. of China, also known as Chalco, on Monday posted net profit of 3.80 billion yuan, equivalent to US$534.4 million, up 90% from the same period a year ago. The year-ago figures were restated to reflect business combinations with other entities under its parent company.
Higher aluminum and alumina prices helped to boost Chalco's third-quarter earnings over the previous quarter, Citi analysts wrote in a note.
Chalco's balance sheet has also continued to improve, with free cash flow of 9.0 billion yuan in the quarter, Citi analysts led by Jack Shang said. Robust free cash flow could lay the ground for potential better shareholder returns, they add.
Citi maintained its buy rating and HK$7.37 target price on Chalco, which remains its top sector pick.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
October 27, 2025 23:16 ET (03:16 GMT)
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