Commodities
China Hongqiao profit hits record on high aluminium prices; output falls for 3rd year
- Shandong-based Hongqiao posted annual net income of 10.5 billion yuan ($1.62 billion) last year, according to a filing to the Hong Kong stock exchange on Friday.
- Revenues were up only 2.3% year-on-year to 86.14 billion yuan, however, with Hongqiao also attributing its bumper earnings to lower production costs and lower impairment losses compared with a year earlier.