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09 JUNE 2026 AL CIRCLE

China Hongqiao parent company buys 21 million shares in HKD 556M deal

EDITED BY : STAFF EDITOR 2MINS READ

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Aluminium producer China Hongqiao Group Ltd. said on Monday, June 8, 2026, that its parent company, China Hongqiao Holdings, purchased 21 million shares in the company at an average price of HKD 26.464 per share. The transaction amounted to a total consideration of HKD 556 million (USD 71.28 million).

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The acquisition represents approximately 0.21 per cent of China Hongqiao's total issued share capital and increases China Hongqiao Holdings' stake in the company to 62.31 per cent. China Hongqiao Holdings is principally owned by Chairman Zhang Bo.

The parent company said it believes China Hongqiao's current share price does not fully reflect the company's intrinsic value and added that it does not rule out further increases in its shareholding in the future.

China Hongqiao shares opened flat at HKD 26.78 on Tuesday and remain more than 30 per cent below their 52-week high.

Also, shares of major Chinese aluminium producers, including China Hongqiao, Chalco and Nanshan Aluminum International, recently advanced on expectations of tighter bauxite supplies from Guinea and rising alumina prices. China Hongqiao and Chalco gained more than 3 per cent, while Nanshan Aluminum International also recorded gains as investors anticipated stronger sector fundamentals.

Market sentiment was supported by alumina prices climbing above CNY 2,800 per tonne, their highest level in recent months. Concerns over Guinea's planned export controls on bauxite, a key raw material for aluminium production, have heightened fears of supply disruptions, potentially tightening global markets and lending support to aluminium and alumina prices.

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EDITED BY : STAFF EDITOR 2MINS READ

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