External broker reports(aggregated public sources), CMB International

CMB International

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>We believe Chuangxin offers unique growth story in the aluminium sector.</li><li>On the cost side, the on-going commencement of wind &amp; solar captive power source will further push the cost down in 2026E-27E, from the already low cost of electricity at present.</li><li>On the growth side, Chuangxin’s aluminium capacity construction in Saudi Arabia, with the new round of investment from Public Investment Fund (PIF, the sovereign wealth fund of Saudi Arabia), offers confidence in project execution. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We believe Chuangxin offers unique growth story in the aluminium sector.On the cost side, the on-going commencement of wind &amp; solar captive power source will further push the cost down in 2026E-27E, from the already low cost of electricity at present.On the growth side, Chuangxin’s aluminium capacity construction in Saudi Arabia, with the new round of investment from Public Investment Fund (PIF, the sovereign wealth fund of Saudi Arabia), offers confidence in project execution. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chuangxin Industries (2788 HK) - Capacity Growth in Saudi Arabia...