Hongqiao Must Address Audit Findings, Short Seller Allegations to Resume Trading: HKEX
China Hongqiao Group announced yesterday the receipt of a letter detailing the conditions under which it may be allowed to...
China Hongqiao debt
Hongqiao Announces Sale of 650 MM Shares in Attempt At Paying Down Debt
Hongqiao, the world’s largest aluminium producer announced on Tuesday a push to raise HK$6.24 billion (US$800 million) via the sale of new shares just a day after announcing a trading halt. China Hongqiao Group Limited made the announcement in a filing to...
Hongqiao Files Defamation Lawsuit Against Short Seller Emerson
Embattled Chinese aluminium firm China Hongqiao Group opened a new front in the war against short-seller Emerson Analytics this week...
Leaked Letters Purport to Show Hongqiao Appealing to Chinese Government for Help with Auditors, Short Seller
The world’s largest aluminium company sought help from Chinese authorities in negotiating with its auditor after allegations from a short...
Events
Trading Suspended of China Hongqiao Shares After Report Alleges Financial Inconsistencies
The world’s largest aluminium manufacturer China Hongqiao Group called for a suspension of trading of its stock yesterday morning in the wake of allegations by a short seller that the firm is hiding in excess of US$3 billion in costs, and that the company’s profitability is less than half of the amount publicly stated. Hongqiao […]
Hongqiao Denies Allegations of Improprieties by Anonymous Short Seller
A short seller has come forward with allegations that China Hongqiao Group is reaping significant profit margins by distributing a hefty and unsustainable debt load to companies it says are intimately related to its founder and other top company men. According to an article in Financial Times, an anonymous short seller has published a report […]
Biden Infrastructure Bill A Big Boon To Aluminium Industry: Norsk Hydro VP Mike Stier
Earlier this month the United States Congress passed into law President Joe Biden’s US$1.2 trillion infrastructure package. The Investing in a New Vision for the Environment and Surface Transportation in America Act (or the INVEST in America Act) will allocate US$550 billion ...
The Net-Zero Shift Starts With Low Carbon Aluminium
2020 was supposed to be “year of climate action”, with the Glasgow COP26 acting as a major milestone for both ...
Aluminium at the LME Week – Key Takeaways
Between October 28 and November 1st, London hosted the traditional London Metals Exchange (LME) Week gathering of analysts, brokers, traders ...
Aluminium Market Oversupplied, Demand Growth Flat
Base metals prices reacted positively to the progress registered in the latest round of US – China trade talks in ...
