Shares of Innovation Industrial (HKEX: 02788) rose more than 10% during the morning session. At the time of writing, the stock was up 9.47%, trading at HK$14.91 with a turnover of HK$73.98 million.

A research report from CMB International noted that the recovery of aluminum production capacity affected by the Middle East situation is expected to take 12 to 18 months, primarily due to the time-consuming and costly process of replacing electrolytic cell linings. This is likely to introduce periodic uncertainty to aluminum supply from the Middle East region.

It is noteworthy that in May of this year, Innovation Group transferred its 41.5% equity stake in Chuangyuan New Materials to Inner Mongolia Chuangyuan, formally exiting Chuangyuan New Materials. This transaction signifies the official completion of the asset acquisition matter previously disclosed by Innovation Industrial. According to reports, in March this year, Innovation Industrial announced that Inner Mongolia Chuangyuan would invest 526 million yuan to acquire the remaining 41.5% stake in Chuangyuan New Materials and an additional 1 billion yuan to acquire Tongliao Smart Mining Co., Ltd. These related acquisitions are expected to secure the company's upstream alumina supply, expand its business into core upstream energy sectors, and enhance its control over the industrial chain.