Changes in Hong Kong stocks | Innovative Industries (02788) soared more than 16% in the afternoon, and the price of electrolytic aluminum rose year-on-year, and the net profit for the first half of the year is expected to be about 2.2 billion yuan to 2.4 billion yuan

The Zhitong Finance App learned that Innovation Industry (02788) soared more than 16% in the afternoon. As of press release, it had risen 16.42% to HK$17.23, with a turnover of HK$153 million.

According to the news, Innovation Industrial recently announced that it expects net profit of about 2.2 billion yuan to 2.4 billion yuan for the first half of the year, an increase of about 154.1% to 177.2% over the previous year. Mainly due to the year-on-year increase in the sales price of electrolytic aluminum products; the increase in the proportion of green electricity usage reduces production costs; the company actively optimizes the financing structure, the financing interest rate has declined, and the financial costs have declined.

It is worth noting that in May of this year, Innovation Group transferred 41.5% of its shares in Chuangyuan New Materials to Inner Mongolia Chuangyuan and officially withdrew from Chuangyuan New Materials. This means that the asset acquisition matters previously disclosed by the company have officially come to fruition. According to reports, in March of this year, Innovation Industrial announced that Chuangyuan, Inner Mongolia, will invest 526 million yuan to acquire the remaining 41.5% share of Chuangyuan New Materials, and invest 1 billion yuan to acquire Tongliao Smart Mining Co., Ltd. The relevant acquisition will guarantee the company's upstream alumina supply, expand the business to upstream core energy, and enhance the company's ability to control the industrial chain.