Hongqiao Group

Hongqiao Shares Plummet To Two-Year Lows After Fees On Captive Power Plants Announced By Shandong Government

Hongqiao Shares Plummet To Two-Year Lows After Fees On Captive Power Plants Announced By Shandong Government

Shares of the world’s most prolific aluminium producer dove for the second straight day on Monday after its home province debuted a new fee schedule for captive power plants. China Hongqiao Group Limited watched its shares plummet by 8.5 percent yesterday, bottoming...

Events

Fitch Drops Hongqiao’s Outlook to Negative, Reaffirms its BB Rating

Fitch Ratings Inc. announced today that it has downgraded its Outlook on China Hongqiao Group’s Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) from Stable to Negative. According to the accompanying press release, the decision was made due to the firm’s “persistent high debt-funded capex, which has resulted high negative free cash flow (FCF) and […]

Chalco’s First-Half Results Up Thanks to Bump in Global Aluminium Prices

State-backed Aluminum Corporation of China Ltd (Chalco) published results for the first half of 2016 on Thursday. The firm posted an increase in profits thanks to a modest recovery in the global aluminium market. The firm posted a net profit of US$8.62 million in the first six months of the year, which is a significant […]