HK Stock Market Move | CHUANGXIN IND(02788) rose more than 10% to a record high. The outlook for the electrolytic aluminum industry is positive, and the Saudi project is expected to open up growth opportunities.

CHUANGXIN IND (02788) rose more than 10% in the morning session, reaching a high of HK$29.84, setting a new record since listing. Since its debut on the exchange on March 9, it has risen by 25%. As of reporting, it is up 9.16% at HK$29.56, with a trading volume of HK$177 million. In terms of news, CMSC pointed out that CHUANGXIN IND has existing electrolytic aluminum capacity of 788,100 tons, oxide aluminum capacity exceeding 3 million tons, and a self-sufficiency rate of electricity of 88% by 2024. The company is investing in the construction of the "Saudi Red Sea Aluminum Industry Chain Comprehensive Project", with a main body capacity of 500,000 tons of electrolytic aluminum and 500,000 tons of aluminum processing. The company and its related parties hold a total of 84% stake, which is expected to significantly boost the company's performance after production. Zheshang believes that the company's profits will significantly increase thanks to the rise in aluminum prices brought by the improving aluminum industry sentiment, the cost reduction from the decrease in alumina prices, and the decline in electricity costs from the installation of new energy. Meanwhile, the planned electrolytic aluminum capacity in Saudi Arabia is expected to drive the company's electrolytic aluminum production increase, with further production expansion expected in 2027.