Shares of NANSHAN AL INTL (02610) are soaring 5.02% in Wednesday's trading session, following a bullish research report from CICC. The investment bank has maintained its outperform rating on the stock and significantly raised its target price by 58% to HK$52.59, citing the company's strong performance and improved market sentiment.

CICC has revised its earnings forecast upward for NANSHAN AL INTL, increasing its 2025 and 2026 net profit projections by 7% and 9% to US$374 million and US$500 million, respectively. The new target price represents a 25% upside potential from the current share price and corresponds to 11x and 8x P/E ratios for 2025 and 2026. This positive outlook is primarily driven by the company's increased production and sales volume, along with rising alumina prices.

Adding to investor optimism, NANSHAN AL INTL recently announced strong interim results for the first half of 2025, with revenue up 41.0% year-on-year to US$597 million and profit attributable to shareholders surging 124.2% to US$248 million. The company also declared its first interim dividend since listing, with a payout ratio of approximately 20%. Furthermore, NANSHAN AL INTL is on track to become the largest alumina producer in Southeast Asia, with its second phase 1 million tons per year capacity expected to come online in Q4 2025 or Q1 2026, ahead of schedule.