On May 28, China Hongqiao fell 3.48% in regular trading, trading at HKD 29.38/share, with trading volume of approximately HKD 248 million. The decline reflects a broad aluminum sector retreat combined with the dissipation of buyback-driven buying support.

The company completed the cancellation of 92.376 million repurchased shares on May 20, concluding a large-scale buyback program that cost approximately HKD 3.079 billion at an average price of HKD 33.34 per share between May 6 and May 14. With the program fully executed and shares cancelled, the sustained bid support that had underpinned the stock price has now subsided. Additionally, the company recently completed the issuance of RMB 10.2 billion in convertible bonds, raising market concerns over potential equity dilution.

The broader aluminum sector saw collective weakness, with CHALCO down 4.54%, Chuangxin Industrial down 7.45%, and Nanshan Aluminium International down 3.10%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)