Want to see HK:2610 full AI Analyst Report?
Top Page
Nanshan Aluminium International Holdings Limited
(2610)
Select Model
Select Model
Rating:73Outperform
Price Target:
HK$23.50
â–¼(-9.62% Downside)
Action:Reiterated
Date:10/10/26
The score is supported primarily by strong financial quality (high margins and very low leverage) and attractive valuation (low P/E and high dividend yield). These positives are tempered by weak technicals (downtrend with negative momentum) and concerns around cash conversion, including negative free cash flow in 2025.
Positive Factors
High Profitability
Very high gross and net margins indicate strong current profitability and provide a meaningful buffer against changes in aluminium pricing or operating costs. If these margins remain broadly sustainable, they can support reinvestment, shareholder returns, and resilience across the next several quarters.
Negative Factors
Revenue Contraction
The 2025 revenue decline interrupts the company’s earlier expansion and indicates that demand, realized aluminium prices, volumes, or another operating factor has weakened. Continued top-line pressure could reduce fixed-cost absorption and make it harder to sustain current earnings power.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Very high gross and net margins indicate strong current profitability and provide a meaningful buffer against changes in aluminium pricing or operating costs. If these margins remain broadly sustainable, they can support reinvestment, shareholder returns, and resilience across the next several quarters.
Read all positive factors
Nanshan Aluminium International Holdings Limited (2610) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$13.18B
Dividend Yield5.74%
Average Volume (3M)407.77K
Price to Earnings (P/E)7.1
Beta (1Y)0.48
Revenue Growth-19.40%
EPS Growth-59.11%
CountryHK
Employees3,851
SectorGeneral
Sector StrengthN/A
IndustryAluminum
Share Statistics
EPS (TTM)0.38
Shares Outstanding620,435,200
10 Day Avg. Volume496,220
30 Day Avg. Volume407,769
Financial Highlights & Ratios
PEG Ratio1.47
Price to Book (P/B)1.89
Price to Sales (P/S)3.09
P/FCF Ratio-108.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$38.24Price Target Upside47.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.35
Revenue Forecast (FY)HK$1.05B
Nanshan Aluminium International Holdings Limited Business Overview & Revenue Model
Company Description
Nanshan Aluminium International Holdings Limited functions as an investment holding company, with its core operations centered on the production and distribution of alumina across Southeast Asia. The company's product portfolio includes various fo...
How the Company Makes Money
The company primarily makes money by selling aluminium products to customers, generating revenue from (1) product sales (the core stream), where income is recognized based on volumes shipped and realized selling prices; and (2) processing/manufact...
Nanshan Aluminium International Holdings Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
94
Very Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 960.02M | 1.14B | 1.02B | 677.78M | 466.78M | 172.84M |
| Gross Profit | 239.54M | 478.69M | 516.69M | 197.67M | 112.07M | 44.80M |
| EBITDA | 309.54M | 546.47M | 557.55M | 243.93M | 147.66M | 64.79M |
| Net Income | 222.86M | 409.03M | 401.81M | 122.67M | 67.69M | 28.46M |
Balance Sheet | ||||||
| Total Assets | 2.50B | 2.25B | 1.72B | 1.44B | 1.28B | 1.20B |
| Cash, Cash Equivalents and Short-Term Investments | 666.75M | 400.07M | 454.15M | 254.86M | 230.92M | 228.43M |
| Total Debt | 11.00K | 79.99K | 214.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 407.96M | 349.58M | 426.28M | 168.32M | 286.61M | 196.92M |
| Stockholders Equity | 2.05B | 1.86B | 1.26B | 918.80M | 720.87M | 730.13M |
Cash Flow | ||||||
| Free Cash Flow | -95.65M | -32.44M | 21.63M | 23.47M | 12.67M | -146.19M |
| Operating Cash Flow | 52.45M | 359.72M | 96.27M | 96.27M | 163.04M | -8.71M |
| Investing Cash Flow | -204.75M | -461.97M | -74.18M | -74.18M | -150.37M | -137.48M |
| Financing Cash Flow | -49.28M | -18.35M | 5.13M | 5.13M | -383.00K | 159.19M |
Nanshan Aluminium International Holdings Limited Technical Analysis
Negative
26.00
Price Trends
24.21
Negative
25.76
Negative
38.76
Negative
Market Momentum
-0.75
Positive
33.67
Neutral
17.87
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2610, the sentiment is Negative. The current price of 26 is above the 20-day moving average (MA) of 22.69, above the 50-day MA of 24.21, and below the 200-day MA of 38.76, indicating a bearish trend. The MACD of -0.75 indicates Positive momentum. The RSI at 33.67 is Neutral, neither overbought nor oversold. The STOCH value of 17.87 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2610.
Nanshan Aluminium International Holdings Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$158.41B | 8.35 | 22.29% | 7.05% | 6.65% | 46.40% | |
73 Outperform | HK$13.18B | 7.12 | 11.38% | 5.74% | -19.40% | -59.11% | |
72 Outperform | HK$195.01B | 6.02 | 20.69% | 8.31% | 6.88% | 7.63% | |
58 Neutral | HK$2.06B | 3.31 | 8.48% | 10.19% | 9.79% | -24.00% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | HK$853.35M | 2.31 | 12.67% | 3.16% | 26.56% | 58.77% | |
44 Neutral | HK$117.54M | -0.90 | -19.40% | 7.14% | -64.85% | -1980.00% |
* General Sector Average
HK:2610
Nanshan Aluminium International Holdings Limited
21.24
-21.54
-50.35%
HK:2600
Aluminum of China
6.93
-2.40
-25.73%
HK:0098
Xingfa Aluminium Holdings Ltd.
4.91
-2.31
-31.98%
HK:1378
China Hongqiao Group Ltd.
19.86
-8.08
-28.92%
HK:2078
PanAsialum Holdings Co. Ltd.
0.10
-0.03
-24.62%
HK:0505
Xingye Alloy Materials Group Limited
0.95
-0.02
-1.86%
Nanshan Aluminium International Holdings Limited Corporate Events
Nanshan Aluminium International Flags Unaudited Parent Results Amid Volatile Alumina Prices
Oct 28, 2026
Nanshan Aluminium International Holdings Limited has disclosed inside information relating to the unaudited nine-month results of its controlling shareholder, Shandong Nanshan Aluminium, which encompass financial and operational data covering the ...
Nanshan Aluminium Raises Caps on Connected Construction Services Deal
Sep 30, 2026
Nanshan Aluminium International Holdings Limited has revised the annual caps for its Construction Services Framework Agreement with connected parties George Santos, his father Santony, and their company MKU. The supplemental agreement, signed on 3...
Nanshan Aluminium Profit Plunges as Revenue Falls, Dividend Cut Despite Stronger Balance Sheet
Aug 19, 2026
Nanshan Aluminium International Holdings Limited reported interim revenue of US$415.0 million for the six months ended 30 June 2026, down 30.5% year-on-year, as profit attributable to equity shareholders fell 74.8% to US$62.7 million. Despite the ...
Nanshan Aluminium International Declares Interim Dividend for First Half of 2026
Aug 19, 2026
Nanshan Aluminium International Holdings Limited has declared an interim ordinary cash dividend of HKD 0.16 per share for the six months ended 30 June 2026, for the financial year ending 31 December 2026. The move signals the company’s conti...
Nanshan Aluminium Warns of Sharp Profit Drop on Alumina Price Fall
Jul 31, 2026
Nanshan Aluminium International Holdings Limited has issued a profit warning for the six months ended 30 June 2026, projecting net profit attributable to equity shareholders of between US$58 million and US$68 million, sharply down from about US$24...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.