Citibank has maintained its "Buy" rating on CHINAHONGQIAO (01378) with a target price of HK$25.20, continuing to list the company as its top industry pick. According to data, CHINAHONGQIAO reported net profit of RMB 12.4 billion for the first half of 2025, representing a 35% year-on-year increase that met expectations.

For the first half of 2025, the company's total revenue grew 10% year-on-year, while operating profit reached RMB 18.1 billion, up 21% compared to the same period last year.

By business segment, aluminum operations generated revenue growth of 5% year-on-year in the first half of 2025, with gross profit increasing 9%. The average aluminum selling price was RMB 18,178 per ton, up 3% year-on-year.

The alumina business performed strongly in the first half of 2025, with revenue rising 28% year-on-year and gross profit surging 44%. The average alumina selling price reached RMB 3,244 per ton, representing a 10% year-on-year increase.

Citibank noted in its report that CHINAHONGQIAO plans to repurchase no less than HK$3 billion worth of company shares, demonstrating management's confidence in the company's development prospects and long-term investment value.