Zhitong
2024.01.25 02:28
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Hong Kong Stock Market News | CHALIECO surges over 19%, State-owned Assets Supervision and Administration Commission of the State Council will further study the inclusion of market value management in the performance assessment of central enterprise leaders.

CHALIECO's stock price surged by more than 19%, with a trading volume of HKD 5.15 million. The State-owned Assets Supervision and Administration Commission of the State Council will further study the inclusion of market value management in the performance assessment of central enterprise leaders, in order to guide them to pay attention to the market performance of listed companies and improve shareholder returns. The reduction in domestic social inventory of aluminum ingots and the tightening supply are expected to maintain a strong aluminum price. Therefore, the bank recommends electrolytic aluminum companies with scale advantages, low costs, and growth potential.

Zhitong App learned that CHALIECO (02068) surged more than 19%, as of the time of writing, with a 19.20% increase, reaching HKD 1.49, with a turnover of HKD 5.15 million.

On the news front, on January 24th, the State Council Information Office held a press conference. Xie Xiaobing, the person in charge of the State-owned Assets Supervision and Administration Commission of the State Council, introduced that the State-owned Assets Supervision and Administration Commission of the State Council will further study the inclusion of market value management in the performance assessment of central enterprise leaders. Based on the previous promotion of central enterprises incorporating factors related to the stock price of listed companies into the performance evaluation system, the State-owned Assets Supervision and Administration Commission of the State Council will include the effectiveness of market value management in the assessment of central enterprise leaders. This will guide central enterprise leaders to pay more attention and attach more importance to the market performance of the listed companies they control, timely use market-oriented means such as increasing holdings and repurchases to convey confidence, stabilize expectations, increase cash dividends, and better reward investors.

Haitong Securities pointed out that the domestic social inventory of aluminum ingots has decreased compared to the previous period. As of December 21st, 23, the LME aluminum, SHFE aluminum, and COMEX aluminum inventories were 50.82, 11.20, and 4.48 thousand tons, respectively, with changes of +10.6%, -6.9%, and +27.2% compared to the end of November. The domestic social inventory of aluminum ingots was 446 thousand tons, a decrease of 152 thousand tons from the end of November. With the tightening supply, the aluminum price is expected to remain relatively strong. Therefore, the bank recommends electrolytic aluminum companies that have scale advantages, low costs, and growth potential.