Shares of China Hongqiao Group declined more than 12 per cent in Hong Kong trading, after opening 8.41 per cent down and hitting HKD 30.18 (USD 3.86). The stock was last at HKD 30.24 (USD 3.87), down 12.35 per cent, with a turnover at HKD 2.246 billion (USD 288 million) and volume of 72 million shares.

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The decline comes after the company’s 2025 results, where revenue rose 4 per cent year-on-year to RMB 162.35 billion (USD 22.73 billion), while net profit increased 1.2 per cent to RMB 22.64 billion (USD 3.17 billion). Overall gross profit margin fell by 1.4 percentage points to 25.6 per cent, due to weaker alumina margins.

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Brokerages, including Morgan Stanley, JPMorgan and UBS, said earnings missed expectations.

They cited pressure from lower alumina prices and rising costs, while noting that aluminium segment profitability was to improve. Capital expenditure and cash outflows also weighed on earnings, though payout remained stable.

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