In the report "Major Banks," CITIC Securities raised the target price for NANSHAN AL INTL to 52.59 yuan, with mid-term performance slightly exceeding expectations

AASTOCKS
2025.09.03 04:12

CICC published a research report indicating that NANSHAN AL INTL (02610.HK) saw a 41% year-on-year increase in revenue for the first half of the year; net profit increased by 124.2%, slightly exceeding expectations. Considering the current robust financial situation, the company declared its first interim dividend, with a payout ratio of approximately 20%.

The firm believes that after the second phase of production capacity is put into operation, NANSHAN AL INTL will become the largest alumina producer in Southeast Asia, further enhancing the company's market influence in the region. Taking into account the increase in production and sales as well as rising prices, it raised its net profit forecasts for this year and next by 7% and 9%, respectively, to USD 374 million and USD 500 million, maintaining an "outperform" rating and raising the target price by 58% to HKD 52.59

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