汇丰研究发表报告指，中国宏桥(01378.HK) 日前发盈喜后股价上升，公司料今年上半年盈利按年升35%，好过该行预期，受惠于铝材及氧化铝产品销售均价和销量均按年上升。该行将目标价由17.1元升至18.5元，维持“买入”评级，因行业基本面稳健，以及公司9%的收益率具吸引力。
该行认为铝业的基本面仍然稳健，受到4,500万吨生产上限、以旧换新补贴持续、强劲的电网投资、电动车销售增长以及出口情绪改善支持，但6月底因季节性因素，需求增长明显放缓，该行亦忧虑国内的太阳能安装速度减慢，以及以旧换新政策的影响可能开始减弱，料下半年中国宏桥的盈利按半年及按年均有所下跌，因去年第四季氧化铝价格异常地高。该行认为，或需要强劲的需求以推动铝价，以及能源价格下降，才能进一步提高公司的盈利增长及利润率扩张。(ss/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-06-24 16:25。)
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