The Zhitong Finance App learned that Guoxin Securities released a research report stating that it maintains China's Hongqiao (01378.HK) “superior to the market” rating. The company is the world's leader in electrolytic aluminum. The joint venture has the world's largest bauxite mine, and the industrial chain is fully equipped. Taking advantage of this high boom cycle of electrolytic aluminum and production capacity transfer opportunities, the company continues to get rid of debt pressure and carbon emission pressure that constrain long-term development, and has more sustainable development capabilities in the future. Assuming that in 2026-2028 the average spot price of aluminum is 24,000 yuan/ton, the price of alumina is 2,700 yuan/ton, the price of pre-baked anodes is 5,700 yuan/ton (original value 6,000 yuan/ton), the factory price of 5,500 kcal thermal coal is 800 yuan/ton (original value 700 yuan/ton), and the tax-inclusive price of hydropower in Yunnan is 0.44 yuan/kilowatt.

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