China Hongqiao Group

Capacity Closures and Rising Overhead Hammer China Hongqiao’s 2017 Bottom Line

Capacity Closures and Rising Overhead Hammer China Hongqiao’s 2017 Bottom Line

The world’s premier raw aluminium producer China Hongqiao Group Limited released financial results for 2017 on Friday, revealing losses of 25.3 percent thanks to capacity closures and increased overhead costs. According to the filing made with the Hong Kong Stock Exchange, revenue...

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Events

Hongqiao Request Injunction Against “Defamatory” Reports from Emerson

Hongqiao Request Injunction Against “Defamatory” Reports from Emerson

The world’s largest aluminium firm has gone to court in Hong Kong to enjoin a group of short sellers from publishing reports accusing it of accounting irregularities. Last Friday China Hongqiao Group approached the High Court of Hong Kong requesting an injunction against short seller Emerson Analytics to prevent it from publishing a February report, […]

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Hongquao’s Hometown Declares 2.5 Million MTPA in Seasonal Aluminium Capacity Cuts

Hongquao’s Hometown Declares 2.5 Million MTPA in Seasonal Aluminium Capacity Cuts

The government of the Shandong city of Binzhou recently announced the closure of around 2.5 million metric tons per annum of aluminium smelting capacity over the coming winter months. Although the city is the home base of world’s leading aluminium producer China Hongqiao Group, the document, which was obtained by Reuters and authenticated by an […]

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CITIC Throws Hongqiao a US$1.02 Billion Lifeline

CITIC Throws Hongqiao a US$1.02 Billion Lifeline

The world’s biggest aluminium company is soon to receive a US$1.02 billion shot in the arm from the People’s Republic of China’s state-owned investment company. According to an article in the South China Morning Post, China Hongqiao Group has agreed to sell 806.6 million new shares and issue US$320 million in convertible bonds to CITIC […]

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China Hongqiao Cuts Obsolete Aluminium Capacity By 2 Million MTPA

China Hongqiao Cuts Obsolete Aluminium Capacity By 2 Million MTPA

China Hongqiao Group Limited announced plans yesterday to cut two million metric tons per annum of outdated aluminium capacity. However, the world’s largest aluminium producer indicated that the planned cuts will have little effect on its overall output or bottom line. According to experts, Honqiao’s aluminium production is likely in the neighborhood of 6.5 million […]

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