HK Stock Market Move | CHUANGXIN IND(02788) rose more than 10% in early trading, with continued uncertainty in Middle East aluminum supply. The company recently completed an asset acquisition.

CHUANGXIN IND(02788) rose more than 10% in early trading, and as of the time of publication, it was up 9.25%, trading at 14.88 Hong Kong dollars, with a turnover of 69.43 million Hong Kong dollars. Zhaojin International released a research report stating that the recovery of aluminum production capacity affected by the Middle East situation is expected to take 12-18 months, mainly due to the time-consuming and costly process of replacing the lining of electrolytic cells. Additionally, due to the lack of mutual trust between the United States and Iran, the agency believes that there is a possibility of renewed conflict in the future, which could bring uncertainty to aluminum supply in the Middle East region. It is worth noting that in May of this year, Chuangxin Group transferred 41.5% of its equity in Chuangyuan New Materials to Inner Mongolia Chuangyuan, officially exiting Chuangyuan New Materials. This transaction signifies the formal completion of the asset acquisition disclosed by CHUANGXIN IND earlier. In March of this year, CHUANGXIN IND announced that Inner Mongolia Chuangyuan will invest 526 million yuan to acquire the remaining 41.5% equity of Chuangyuan New Materials and invest 1 billion yuan to acquire Chifeng City Smart Mining Co., Ltd. The related acquisitions will ensure the company's upstream supply of alumina and expand its business to the upstream core energy sector, enhancing the company's control over the industrial chain.