HK Stock Market Move | NANSHAN AL INTL (02610) rises nearly 4%. Shandong Nanshan Aluminium plans to repurchase up to 600 million shares. Institutions are optimistic that the profit center for electrolytic aluminum is expected to shift upwards.

Nanshan Aluminum International (02610) rose nearly 4%, with a cumulative increase of over 50% in its stock price over the past month. As of the time of writing, it has risen 2.15% to 61.8 Hong Kong dollars, with a trading volume of 83.776 million Hong Kong dollars. On the news front, on January 13th, Shandong Nanshan Aluminium announced its plan to repurchase shares through centralized bidding at an amount not less than 3 billion yuan and not exceeding 6 billion yuan, to reduce the company's registered capital. The repurchase price will not exceed 7.52 yuan per share. The repurchase period will not exceed 12 months from the date of approval by the shareholders' meeting. The company's directors, executives, and controlling shareholders have no plans to reduce their holdings in the next 3 or 6 months. The repurchase scheme requires the consent of the creditors, with the risk of creditors demanding early repayment if they do not agree. Huatai Research Report pointed out that the profit center of electrolytic aluminum is expected to further rise in the first half of 2026. Recently, aluminum prices have risen sharply, and the purchasing atmosphere in the downstream industry chain of electrolytic aluminum has become cautious, with weak performance in fundamental data. The inventory accumulation in the electrolytic aluminum linkage is large, spot basis has weakened, and the processing fees for mainstream aluminum rods have turned negative. This data has raised concerns among many investors about the sustainability of the rise in aluminum prices, but the bank believes that the weak downstream purchasing willingness in the off-season and high prices is a normal phenomenon.