股票代码：601600 股票简称：中国铝业 公告编号：临 2023-015 中国铝业股份有限公司 关于召开 2022 年度业绩暨现金分红说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 一、说明会类型 中国铝业股份有限公司（以下简称"公司"）已于 2023 年 3 月 22 日在上海证 券交易所网站（www.sse.com.cn）和《证券日报》披露《中国铝业股份有限公司 2022 年度报告》及摘要和《中国铝业关于 2022 年度利润分配方案的公告》。 为方便广大投资者更加全面深入地了解公司 2022 年度业绩、生产经营情况及利 润分配方案，公司定于 2023 年 4 月 7 日（星期五）15：00-16:30 在上海证券交易 所上证路演中心（网址：http://roadshow.sseinfo.com/）通过视频直播和网络互 动方式召开 2022 年度业绩暨现金分红说明会，对公司 2022 年度的经营情况、现金 分红等具体情况与广大投资者进行充分交流，解答投资者普遍关注的问题。 二、说明会召开 ...

Financial Performance - The group achieved operating revenue of RMB 290.988 billion for the year ended December 31, 2022, a decrease of 2.64% year-on-year[27]. - The profit attributable to the owners of the parent company for the year was RMB 4.192 billion, with earnings per share of RMB 0.239[27]. - Gross profit for 2022 was RMB 31,283,858 thousand, down from RMB 34,716,577 thousand in 2021, reflecting a decline in profitability[28]. - Net profit attributable to the owners of the parent company was RMB 4,191,927 thousand, a significant decrease of 27.22% from RMB 5,759,422 thousand in the previous year[32]. - The company reported a net cash flow from operating activities of RMB 27,806,188 thousand, which is a decline of 21.08% compared to RMB 35,232,217 thousand in 2021[32]. - Total assets as of December 31, 2022, were RMB 212,348,031 thousand, down 5.57% from RMB 224,862,823 thousand in 2021[30]. - Total liabilities decreased to RMB 124,592,064 thousand in 2022 from RMB 135,165,255 thousand in 2021, indicating improved financial stability[30]. - The weighted average return on net assets decreased to 6.90% in 2022 from 9.86% in 2021, indicating a decline in efficiency[32]. - The company's operating revenue for 2022 was RMB 290,987,942 thousand, a decrease of 2.64% compared to RMB 298,885,350 thousand in 2021[32]. - The company plans to distribute a final dividend of RMB 0.036 per share for the year 2022, pending approval at the shareholders' meeting[29]. Strategic Goals and Development - The company aims to become a globally competitive world-class aluminum company, supported by a clear and pragmatic development strategy[24]. - The group possesses stable and reliable bauxite resources, ensuring sustainable development capabilities[24]. - The company has a complete industrial chain, which provides a significant overall competitive advantage[24]. - The group emphasizes continuous technological innovation, with notable achievements in the transformation of scientific and technological results[24]. - The company plans to expand its market presence and enhance its product offerings through ongoing research and development efforts[24]. - The company aims to enhance its competitive advantage across the entire industrial chain and create new profit growth points through precise investments and high-quality development strategies[98]. - The company is focusing on green low-carbon initiatives and accelerating the development of new energy projects, including wind and solar power[98]. - The company aims to strengthen its core industries, including bauxite, alumina, and electrolytic aluminum, while also focusing on high-purity aluminum and aluminum alloys[123]. Research and Development - Research and development expenses increased significantly to RMB 4,805,174 thousand in 2022, compared to RMB 2,417,448 thousand in 2021, highlighting a focus on innovation[28]. - The company has established a three-tier technology team system and completed 65 key R&D projects, obtaining 356 patent authorizations[89]. - The company is actively involved in the development of new technologies and products to enhance its market position in the aluminum industry[148]. Market and Industry Trends - The aluminum industry is undergoing structural adjustments due to government policies aimed at reducing carbon emissions and controlling new electrolytic aluminum capacity[125]. - The demand for aluminum in traditional sectors is declining, while applications in transportation, electronics, and renewable energy are increasing[128]. - The company anticipates that the global solar photovoltaic market will experience rapid growth, with China continuing to be a major supplier[129]. Environmental and Social Responsibility - The company is committed to developing low-carbon and zero-carbon technologies to align with green development goals[135]. - The company achieved a clean energy consumption ratio of 45% in its electrolytic aluminum production, with a comprehensive utilization rate of red mud at 10.7%[88]. - The company donated a total of RMB 29.91 million in cash and materials for social welfare projects in 2022, including RMB 19.90 million for aid to Qinghai and Tibet[144]. - The company established a comprehensive social responsibility management system to integrate sustainability into its daily operations[136]. Governance and Management - The company has a strong leadership team with extensive experience in finance and management, including the chairman of the supervisory board, Ye Guohua, who has held various senior financial roles[45]. - The company emphasizes performance evaluation in determining the remuneration of its directors and senior management[52]. - The company has a structured approach to governance, with clear roles and responsibilities for its board members and management team[52]. - The company’s board of directors included one female member, while the senior management team consisted entirely of male members, indicating a need for increased gender diversity in leadership roles[56]. Employee and Workforce Management - As of December 31, 2022, the total number of employees in the group was 67,383, with production personnel accounting for 81.7% (55,076 employees) of the workforce[54]. - The company has a comprehensive employee training system to enhance work capabilities and career value[190]. - The company implemented a "Talent Strong Enterprise" strategy, focusing on employee training and talent development, with 28 training programs conducted in 2022, benefiting 56,000 participants[143]. Financial Instruments and Shareholder Information - The company maintains a profit distribution policy that prioritizes cash dividends, distributing at least 10% of the distributable profits each year[158]. - The company completed the distribution of cash dividends for the fiscal year 2021 on August 19, 2022[159]. - The company plans to complete the dividend distribution for the fiscal year 2022 by August 18, 2023, pending shareholder approval[160]. - The company’s total bond balance at the end of the reporting period was RMB 0 due to the maturity and repayment of certain debt financing instruments[167].

Financial Performance - The company's operating revenue for the third quarter was RMB 60,668,730, a decrease of 18.23% compared to the same period last year[2]. - Net profit attributable to shareholders of the listed company was RMB 577,541, down 74.13% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 612,812, representing a decline of 78.03% compared to the previous year[2]. - Basic earnings per share were RMB 0.031, a decrease of 76.11% from the same period last year[2]. - The weighted average return on net assets was 0.96%, a decrease of 2.96 percentage points year-on-year[2]. - Total comprehensive income for the first three quarters of 2022 was RMB 6,333,993 thousand, a decrease of 21.6% compared to RMB 8,076,139 thousand in 2021[18]. - Net profit attributable to shareholders for the first three quarters of 2022 was RMB 4.57 billion, a decrease of 13.9% from RMB 5.31 billion in the same period of 2021[17]. - Net profit for the first three quarters of 2022 was RMB 129,829 thousand, a significant decrease from RMB 2,652,019 thousand in the same period of 2021[31]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 192,376,897, an increase of 3.12% compared to the end of the previous year[2]. - Total assets as of September 30, 2022, amounted to RMB 198.44 billion, up from RMB 192.43 billion at the end of 2021[15]. - Total liabilities decreased slightly to RMB 118.65 billion as of September 30, 2022, compared to RMB 119.59 billion at the end of 2021[14]. - Total liabilities decreased to RMB 71,946,108 thousand as of September 30, 2022, down from RMB 72,714,553 thousand at the end of 2021[28]. - The company reported a decrease in total non-current assets to RMB 135.35 billion as of September 30, 2022, from RMB 143.72 billion at the end of 2021[13]. Cash Flow - The net cash flow from operating activities was RMB 19,360,344, an increase of 8.81% compared to the previous year[2]. - Net cash flow from operating activities for the first three quarters of 2022 was RMB 19,360,344 thousand, an increase of 8.9% from RMB 17,792,063 thousand in 2021[20]. - Cash inflow from investment activities for the first three quarters of 2022 was RMB 10,483,961 thousand, up 28.0% from RMB 8,185,942 thousand in 2021[21]. - Cash outflow from financing activities for the first three quarters of 2022 was RMB 27,392,219 thousand, a decrease of 43.8% compared to RMB 48,703,211 thousand in 2021[22]. - The net cash flow from financing activities was -2,875,100 in 2022, an improvement from -4,435,432 in 2021[35]. Production and Operations - In the first nine months of 2022, the company produced 1,243,000 tons of alumina, a 2.16% increase from 1,217,000 tons in the same period of 2021[6]. - The company’s coal production surged by 50.56%, reaching 813,000 tons compared to 540,000 tons in the previous year[6]. - The company generated 123 billion kWh of electricity, marking a 9.82% increase from 112 billion kWh in the same period of 2021[6]. - The company reported a decrease in fine alumina production, which fell by 2.96% to 311,000 tons from 321,000 tons in the previous year[6]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 569,970[7]. - China Aluminum Group Co., Ltd. holds 5,050,376,970 shares, representing 29.47% of the total shares[8]. Research and Development - Research and development expenses increased significantly to RMB 2.65 billion in the first three quarters of 2022, compared to RMB 1.21 billion in the same period of 2021, reflecting a focus on innovation[16]. - Research and development expenses surged to RMB 360,807 thousand in 2022, compared to RMB 35,443 thousand in 2021, indicating a focus on innovation[30]. Market Conditions - The company experienced a significant decline in aluminum product market prices compared to the same period last year, impacting profitability[5]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[16].

Market Performance - In the first half of 2022, the average price of alumina in the international market was $398 per ton, an increase of 38% year-on-year, with a minimum price of $345 per ton and a maximum price of $533 per ton[12]. - Domestic alumina prices peaked at RMB 3,305 per ton in mid-February 2022, reflecting an increase of approximately 18% from the beginning of the year, before stabilizing between RMB 2,800 and RMB 3,300 per ton in the first half of the year[13]. - In the first half of 2022, global alumina production was approximately 66.79 million tons, while consumption was about 67.19 million tons, representing a year-on-year decrease of 1.0% in production and an increase of 3.3% in consumption[14]. - China's alumina production reached approximately 37.97 million tons in the first half of 2022, with consumption at about 39.46 million tons, marking year-on-year growth of 0.6% in production and 5.4% in consumption[14]. - The average price of LME aluminum for the first half of 2022 was $3,079 per ton, representing a year-on-year increase of 37.1%[15]. - The average price of SHFE spot aluminum in the first half of 2022 was RMB 21,461 per ton, reflecting a year-on-year increase of 23.3%[15]. Financial Performance - In the first half of 2022, the company's operating revenue reached RMB 145.403 billion, an increase of 20.35% year-on-year, while total profit amounted to RMB 6.957 billion, up 14.82% year-on-year[17]. - The company's net cash flow from operations was RMB 14.983 billion, a significant increase of 57.98% year-on-year[17]. - The net profit attributable to the owners of the company was RMB 3.989 billion, with earnings per share of RMB 0.231[26]. - The operating revenue for the first half of 2022 reached RMB 145.403 billion, up RMB 24.586 billion from RMB 120.817 billion year-on-year, primarily due to increased trade business revenue and rising market prices of main products[30]. - The operating cost for the first half of 2022 was RMB 131.109 billion, an increase of RMB 22.556 billion from RMB 108.553 billion in the same period last year, mainly due to rising raw material prices and increased trade business costs[30]. - The company's total assets as of June 30, 2022, amounted to RMB 194,806,587 thousand, compared to RMB 192,434,339 thousand at the end of 2021[113]. - The company's total equity increased to RMB 77,901,367 thousand from RMB 72,840,939 thousand year-over-year[112]. Strategic Initiatives - The company plans to enhance its market expansion strategies and invest in new technologies to improve production efficiency and reduce costs[11]. - The company is committed to ongoing research and development of new products to meet market demands and enhance competitiveness[11]. - The company is focused on advancing green technology and energy-saving innovations, including the industrialization of high-end product development and comprehensive utilization of red mud[24]. - The company plans to accelerate structural adjustments and optimize its industrial layout, including the construction of a 2 million ton alumina project in Guangxi Huasheng[23]. - The company is actively pursuing overseas industrial layout research to establish alumina production bases abroad[23]. Environmental and Compliance Efforts - The company is focusing on environmental compliance and production recovery in response to pandemic-related disruptions in the alumina supply chain[13]. - The company achieved a comprehensive energy consumption reduction of 11.8% year-on-year in alumina production[19]. - The company is committed to enhancing its governance structure to align with world-class standards and improve operational efficiency[25]. - The company will strengthen risk prevention mechanisms and enhance environmental protection measures to ensure supply chain security[25]. Shareholder and Governance Information - The board expressed gratitude to shareholders for their support and emphasized the importance of strategic planning for future growth[11]. - The independent non-executive directors were re-elected on June 21, 2022, ensuring continuity in governance[58]. - The company’s board of directors and senior management underwent changes, with several members re-elected or appointed in 2022[58]. - The company has confirmed compliance with corporate governance codes and internal control guidelines during the reporting period[82]. - The company completed the distribution of the 2021 final dividend on August 19, 2022[96]. Research and Development - Research and development expenses for the first half of 2022 amounted to RMB 1.626 billion, a significant increase of RMB 967 million compared to RMB 659 million in the same period last year, reflecting the company's commitment to energy conservation and emission reduction initiatives[33]. - The company is focused on developing a high-level technology talent team to drive innovation and improve market competitiveness[24]. Operational Efficiency - The utilization rate of electrolytic aluminum production capacity increased by 2.7 percentage points year-on-year, with a total of 450,000 tons of production capacity restored[18]. - The company implemented a digital transformation plan, resulting in a 7.8% increase in labor productivity at its Guangxi Huasheng smart factory[19]. Cash Flow and Investments - The net cash outflow from investment activities for the first half of 2022 was RMB 5.929 billion, an increase of RMB 0.292 billion compared to RMB 5.637 billion in the same period last year[50]. - The net cash outflow from financing activities for the first half of 2022 was RMB 8.079 billion, an increase of RMB 1.761 billion compared to RMB 6.318 billion in the same period last year, mainly due to increased loan repayments[51]. - The company has committed RMB 1.001 billion in fixed asset investment that has been contracted but not yet allocated as of June 30, 2022[48]. Segment Performance - The aluminum oxide segment's operating revenue for the first half of 2022 was RMB 27.958 billion, an increase of RMB 3.715 billion from RMB 24.243 billion year-on-year, driven by higher sales prices[37]. - The primary aluminum segment's operating revenue for the first half of 2022 was RMB 41.928 billion, up RMB 9.364 billion from RMB 32.564 billion in the same period last year, mainly due to increased sales prices of electrolytic aluminum[39]. - The trading segment's operating revenue for the first half of 2022 was RMB 120.508 billion, an increase of RMB 22.571 billion from RMB 97.937 billion year-on-year, attributed to higher sales volumes and prices of imported coking coal[41]. - The energy segment's operating revenue for the first half of 2022 was RMB 4.819 billion, an increase of RMB 1.666 billion from RMB 3.153 billion in the same period last year, primarily due to increased coal production and sales[43].

Financial Performance - The company's operating revenue for Q1 2022 was RMB 75,621,399 thousand, representing a 43.62% increase compared to RMB 52,613,929 thousand in the same period last year[2] - Net profit attributable to shareholders for Q1 2022 was RMB 1,574,894 thousand, a 60.52% increase from RMB 966,709 thousand year-on-year[2] - The diluted earnings per share for Q1 2022 was RMB 0.091, a 65.34% increase from RMB 0.054 in the same period last year[2] - Total revenue for Q1 2022 reached RMB 75,621,399 thousand, a significant increase of 43.5% compared to RMB 52,652,764 thousand in Q1 2021[19] - Operating profit for Q1 2022 was RMB 2,952,878 thousand, up 43.4% from RMB 2,057,089 thousand in Q1 2021[20] - Net profit attributable to shareholders of the parent company for Q1 2022 was RMB 1,574,894 thousand, an increase of 60.5% compared to RMB 981,144 thousand in Q1 2021[20] Cash Flow and Liquidity - The net cash flow from operating activities reached RMB 8,556,022 thousand, marking a significant increase of 260.28% compared to RMB 2,333,361 thousand in the previous year[2] - Cash flow from operating activities increased by 260.28%, attributed to a significant rise in cash receipts[7] - Cash and cash equivalents decreased to RMB 17,961,408 thousand from RMB 19,177,992 thousand at the end of 2021, representing a decline of 6.3%[15] - Cash and cash equivalents at the end of Q1 2022 totaled RMB 16,783,415 thousand, up from RMB 8,251,748 thousand at the end of Q1 2021[25] - The company reported a net cash outflow from operating activities of 3,829,581 thousand RMB in Q1 2022, compared to 2,555,992 thousand RMB in Q1 2021[34] - The company reported a net cash flow from financing activities of RMB -4,013,376 thousand in Q1 2022, compared to RMB -1,490,658 thousand in Q1 2021, reflecting higher debt repayments[24] Assets and Liabilities - The total assets at the end of the reporting period were RMB 196,623,258 thousand, reflecting a 2.21% increase from RMB 196,293,187 thousand at the end of the previous year[2] - Total liabilities increased to RMB 121,489,466 thousand as of March 31, 2022, compared to RMB 119,593,400 thousand at the end of 2021[17] - Total liabilities as of March 31, 2022, were RMB 73,487,539 thousand, slightly up from RMB 72,714,553 thousand at the end of 2021[28] - The company’s long-term borrowings increased to RMB 36,678,393 thousand as of March 31, 2022, compared to RMB 36,266,071 thousand at the end of 2021, reflecting a growth of 1.1%[17] Production and Operations - The company produced 409,000 tons of alumina in Q1 2022, maintaining the same production level as in Q1 2021[5] - The production of coal increased significantly to 286,000 tons in Q1 2022, representing an 86.93% increase compared to 153,000 tons in the same period last year[5] - The company experienced a decrease in electricity generation, with a total of 38 billion kWh in Q1 2022, down 7.32% from 41 billion kWh in the same period last year[5] Research and Development - Research and development expenses surged by 161.30%, driven by investments in optimizing electrolytic aluminum technology and developing high-end products[6] - Research and development expenses for Q1 2022 were RMB 400,141 thousand, significantly higher than RMB 153,135 thousand in Q1 2021, reflecting a growth of 161.5%[19] - Research and development expenses surged to 72,683 thousand RMB in Q1 2022, up from 8,098 thousand RMB in Q1 2021, indicating a focus on innovation[31] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 546,638[8] - The largest shareholder, China Aluminum Group, holds 5,050,376,970 shares, accounting for 29.67% of total shares[9] - The total equity attributable to shareholders of the parent company was RMB 58,901,149 thousand as of March 31, 2022, compared to RMB 57,264,687 thousand at the end of 2021[18] - The company’s total equity increased to 53,894,564 thousand RMB as of March 31, 2022, compared to 53,391,586 thousand RMB at the end of 2021[29] Investment Activities - Cash outflow from investing activities was RMB 5,905,898 thousand in Q1 2022, compared to RMB 2,492,816 thousand in Q1 2021, indicating increased investment activity[24] - Investment activities generated a net cash outflow of 3,249,824 thousand RMB in Q1 2022, compared to a net outflow of 2,879,318 thousand RMB in Q1 2021[35] Future Outlook - The company plans to acquire metal gallium assets from China Rare Earth Holdings Limited for a transaction price of RMB 392,411.6 thousand[3] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[30]

Financial Performance - The group achieved a revenue of RMB 269.748 billion for the year ended December 31, 2021, representing a year-on-year increase of 45.03%[16] - The profit attributable to the owners of the parent company for the year was RMB 5.08 billion, with earnings per share of RMB 0.286[16] - Operating revenue for 2021 reached RMB 269.75 billion, a 45% increase from RMB 186.00 billion in 2020[17] - Gross profit for 2021 was RMB 26.48 billion, up from RMB 12.32 billion in 2020, representing a 115% increase[17] - Net profit attributable to owners of the company for 2021 was RMB 5.08 billion, compared to RMB 764.31 million in 2020, marking a significant increase of 566%[18] - The company's operating revenue for 2021 was RMB 269,748,232 thousand, representing a year-on-year increase of 45.03% compared to RMB 185,990,577 thousand in 2020[22] - Profit before tax surged to RMB 10,178,780 thousand in 2021, a remarkable increase of 364.94% from RMB 2,189,271 thousand in 2020[22] - The basic earnings per share (EPS) increased to RMB 0.286, reflecting an increase of 853.33% compared to RMB 0.030 in 2020[22] - The weighted average return on net assets rose to 9.28%, an increase of 7.88 percentage points from 1.40% in 2020[22] - The company reported a significant increase in net profit after excluding non-recurring gains, which reached RMB 7,029,856 thousand, a staggering increase of 1,586.93% from RMB 416,725 thousand in 2020[22] Research and Development - The company emphasizes continuous technological innovation, with notable achievements in the transformation of technological results[11] - Research and development expenses increased to RMB 2.36 billion in 2021, up from RMB 1.43 billion in 2020, indicating a 65% rise[17] - The company emphasizes the importance of technology research and product development, with directors having backgrounds in these areas[31] - The company is actively involved in research and development in metallurgical engineering, contributing to advancements in mineral processing technologies[33] - A total of 36 major R&D projects were implemented, resulting in 35 new authorized invention patents[85] Strategic Goals and Development - The company aims to become a globally competitive world-class aluminum company, supported by stable and reliable bauxite resources[10] - The company has a clear and pragmatic development strategy to ensure sustainable growth[10] - The company aims to enhance its value creation by implementing a comprehensive cost reduction and efficiency improvement strategy, focusing on optimizing key performance indicators and production organization management[93] - The company is committed to green and low-carbon development, increasing the proportion of clean energy usage, and expanding overseas bauxite resource supply channels[95] - The company will accelerate the construction of smart factories and promote a management model that can be replicated across its operations[94] Corporate Governance - The company has a diverse board with members having extensive experience in human resources, corporate management, and financial management[28][30][32] - The independent non-executive directors bring extensive experience in finance, law, and engineering, enhancing corporate governance and strategic decision-making[34] - The company emphasizes risk management and corporate governance, with directors holding key positions in various financial and academic institutions[34] - The company maintains compliance with corporate governance standards as per the Hong Kong Listing Rules and internal control guidelines[180] - The audit committee is composed entirely of independent non-executive directors, ensuring a high level of financial oversight[192] Environmental Responsibility - The company is committed to enhancing safety and environmental responsibility, improving risk control capabilities, and creating a stable operating environment[99] - The company has established a comprehensive occupational health management system and conducted regular health check-ups for employees, enhancing workplace safety measures[137] - The company is committed to environmental protection, with several subsidiaries listed as key pollutant discharge units, indicating ongoing efforts to manage emissions in a high-pollution industry[139] - The company has implemented a "zero report" system for COVID-19, prioritizing employee health and safety through enhanced monitoring and preventive measures[137] - The company achieved a significant improvement in environmental quality, with a continuous decrease in major pollutant emissions and no environmental incidents reported in 2021[147] Market and Industry Trends - The global aluminum market experienced a significant recovery in 2021, driven by strong demand across various sectors, despite supply chain disruptions and rising production costs[67] - The ongoing "dual carbon" policy is driving the industry towards green and low-carbon transformation, creating new development opportunities[124] - The aluminum industry is expected to benefit from the growth in high-end consumption areas such as packaging, transportation, and renewable energy applications[124] - The company faces market fluctuation risks due to the volatility of raw material prices influenced by macroeconomic conditions and industry policies[128] - International operational risks include uncertainties in overseas resource acquisition and potential foreign exchange losses due to currency fluctuations[129] Employee and Social Responsibility - The company has focused on employee development by providing various training programs, fostering a culture of growth and mutual achievement[138] - The company actively participates in social welfare projects, contributing to infrastructure development and poverty alleviation in underprivileged areas[138] - The company donated a total of RMB 40.26 million in 2021, an increase of RMB 8.76 million compared to RMB 31.50 million in 2020, reflecting a growth of approximately 27.9%[138] - The company has established a feedback mechanism for after-sales service to promptly address customer complaints[177] Financial Management - The company improved its debt structure, reducing interest-bearing financing by RMB 14.7 billion and decreasing the asset-liability ratio by 1.27 percentage points[81] - The company's financial expenses for 2021 were RMB 3.667 billion, a decrease of RMB 526 million from RMB 4.193 billion in the previous year, achieved through debt reduction and financing cost optimization[106] - The company has a profit distribution policy that prioritizes cash dividends, aiming to distribute at least 10% of the distributable profit each year[152] - The company has established a marketing management system and a nationwide sales network, focusing on providing high-quality products and services to customers[177] Shareholder Information - The company plans to distribute a final dividend of RMB 0.032 per share for the 2021 fiscal year, totaling approximately RMB 544.73 million based on the current total issued share capital of 17,022,672,951 shares[90] - Total dividends distributed amounted to RMB 544.73 million, representing 10.72% of the profit attributable to equity holders[156] - The largest shareholder, Chalco Group, held 29.67% of the company's shares directly and a total of 32.16% when including its subsidiaries as of December 31, 2021[54] Risk Management - The company aims to enhance supplier management and optimize marketing strategies to mitigate market risks[128] - Safety and environmental risks are present due to potential lapses in safety production responsibilities and high energy consumption in electrolytic aluminum production[131] - The company is committed to enhancing its social responsibility management system, focusing on governance, employee rights, environmental protection, fair operations, and community support[133]

2021 中 期 報 告 目 錄 蘇利文•克倫威爾律師事務所（香港）有限法律責任合夥 香港中環遮打道18號歷山大廈20樓 2021 中期報告 4 10. 公司信息備置地點 ： 公司董事會辦公室 註： 二零二一年六月二十九日，本公司召開二零二零年度股東週年大會，選舉通過劉建平先生為本公司第七屆董事會執行董 事；同日，本公司召開第七屆董事會第二十一次會議，選舉通過劉建平先生為本公司第七屆董事會董事長。根據《中國鋁業 股份有限公司章程》（「公司章程」）的相關規定，本公司已將法定代表人變更為劉建平先生。 中國鋁業股份有限公司（下稱「本公司」或「公司」）董事會（「董事會」）宣佈本公司及其附屬公司（下稱「本集 團」）截至二零二一年六月三十日止六個月期間未經審核之中期經營業績；並謹此代表本公司董事會和全 體員工向各位股東對本公司的關心和支持表示最誠摯的謝意。 | 2 | 公司資料 | | --- | --- | | 5 | 產品市場回顧 | | 7 | 業務回顧 | | 11 | 前景與展望 | | 14 | 中期業績 | | 14 | 中期股息 | | 14 | 管理層對財務狀況和經營業績的討論及分析 | | 24 | ...

回国铝业股份有限公司 ALUMINUM CORPORATION OF CHINA LIMITED CHALCO 股份代號B2600(香港) ACH(美國) 601600(中國) 2020 年度報告 WALATATATA TATATATA a Page the stage 174 2011 Resear tt 6.0 TVE and Pu 776 e 11 1 SULTATATATATATATATATATA the FARE rest and 780 20 0 00 and and on 目 錄 | --- | --- | |-------|----------------------------------------| | | | | 2 | 公司簡介 | | 7 | 財務摘要 | | 13 | 董事、監事、高級管理人員及員工 | | 30 | 股本結構、變動及主要股東持股情況 | | 38 | 董事長報告 | | 56 | 管理層對財務狀況和經營業績的討論與分析 | | 67 | 董事會報告 | | 101 | 監事會報告 | | 107 | 企業管治及內部控制報告 | | 135 | 重要事項 | | ...

Financial Performance - The company achieved a revenue of RMB 190.07 billion for the year ended December 31, 2019, representing a year-on-year increase of 5.46%[16] - The net profit attributable to shareholders for the year was RMB 0.85 billion, with earnings per share of RMB 0.037[16] - The gross profit for 2019 was RMB 12.13 billion, down from RMB 13.21 billion in 2018, indicating a decrease of approximately 8.2%[17] - The company reported a net financial expense of RMB 4.66 billion, compared to RMB 4.39 billion in the previous year, an increase of 6.2%[17] - The company’s operating costs were RMB 177.95 billion, which is an increase from RMB 167.03 billion in 2018, marking a rise of 6.4%[17] - The company’s other income, net, was RMB 1.25 billion, compared to RMB 0.92 billion in 2018, showing an increase of 35.4%[17] - Profit before tax decreased by 11.61% to RMB 2,113,801 thousand in 2019 from RMB 2,391,330 thousand in 2018[25] - Net profit attributable to the owners of the parent company increased by 2.38% to RMB 850,999 thousand in 2019 compared to RMB 831,214 thousand in 2018[25] - The net cash flow generated from operating activities was RMB 12,576,862 thousand, a decrease of 4.72% from RMB 13,199,390 thousand in 2018[25] - The company's operating revenue for 2019 was RMB 190,074,161 thousand, representing a 5.46% increase from RMB 180,241,414 thousand in 2018[25] Research and Development - Research and development expenses increased to RMB 0.94 billion, up from RMB 0.63 billion in 2018, reflecting a growth of 49.9%[17] - The company is actively involved in research and development to innovate new products and technologies in the aluminum industry[33] - The company aims to improve its financial performance by optimizing resource allocation and enhancing production capabilities[34] - The company is committed to innovation and development in the aluminum industry, leveraging the experience of its senior management in production and enterprise management[40] - The company is committed to enhancing innovation capabilities by developing high-end production capacities for aluminum alloys, high-purity aluminum, and fine aluminum oxide[106] Corporate Governance - The company has maintained a consistent approach to governance and oversight through its board and supervisory board structures[30] - The company continues to comply with regulations regarding the tenure of independent directors, ensuring no individual serves beyond the six-year limit[29] - The company has a strong leadership team with extensive experience in finance and management, including the Chairman and CEO who has over 20 years in the industry[31] - The company has a diverse board of directors with expertise in various fields, including legal, engineering, and finance, which supports its governance and strategic direction[36] - The company emphasizes the importance of aligning executive compensation with its development strategy and corporate culture, referencing comparable market salaries[46] Market Strategy - The company aims to enhance its competitive edge by leveraging stable bauxite resources and a complete industrial chain[10] - The company plans to expand its market presence and enhance operational efficiency through strategic management practices[10] - The company is focused on expanding its market presence and enhancing operational efficiency through strategic management and technological advancements[32] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its product offerings[32] - The company has set ambitious performance targets for the upcoming fiscal year, focusing on revenue growth and cost management[34] Environmental and Social Responsibility - The company is committed to sustainable practices and aims to reduce its environmental impact through efficient energy management[33] - The company emphasizes the importance of technological breakthroughs and the application of key technologies to support high-quality industrial development[108] - The company has established a Social Responsibility Committee in 2019 to enhance its social responsibility management and ensure compliance with national guidelines[147] - The company emphasizes employee rights protection and has implemented a comprehensive occupational health and safety management system, achieving ISO 14004 and OHSAS 18001 certifications[149] - The company actively participates in public welfare and poverty alleviation efforts, aligning its initiatives with national poverty alleviation goals[151] Employee and Management Structure - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to RMB 8,439.9 thousand[28] - The company has a strong management team with extensive experience in finance and human resources, including key personnel such as the Chief Financial Officer and various senior managers[37][41] - The company emphasizes the importance of human resources management, with dedicated personnel managing talent development and training[39] - The company has a history of leadership in the aluminum sector, with senior executives having held significant positions in various related organizations[37][40] - As of December 31, 2019, the total number of employees in the group was 65,507, with 72.7% being production personnel[55] Financial Position and Share Capital - Total assets as of December 31, 2019, were RMB 203,070,664 thousand, a slight increase of 1.05% from RMB 200,964,751 thousand in 2018[20] - Total liabilities decreased to RMB 132,345,604 thousand in 2019 from RMB 133,295,132 thousand in 2018[20] - The net asset value increased to RMB 70,725,060 thousand in 2019 from RMB 67,669,619 thousand in 2018[20] - The company’s total share capital increased from 14,903,798,236 shares to 17,022,672,951 shares after issuing 2,118,874,715 new A shares for asset acquisition[61] - The company has a cash dividend distribution policy that requires at least 10% of the distributable profit to be allocated as cash dividends in profitable years[165] Risk Management - The company faces significant risks including safety and environmental risks, market fluctuation risks, cash flow risks, interest rate risks, and international operational risks[144] - To mitigate cash flow risks, the company will implement centralized fund management and strengthen budget management to control expenditures[146] - The company plans to actively engage in futures hedging to enhance its ability to manage market price risks[145] - The company will focus on improving its risk management system for overseas operations to address potential social and public health risks[146] Production and Operations - The company’s electrolytic aluminum quality improved, with the purity rate exceeding 99.85% increasing by 29.5 percentage points year-on-year, and the life of electrolytic cells increased by 52 days[93] - The company has developed 11 new fine alumina products, with 8 achieving industrialization, and 7 new aluminum alloy products entering industrial production[98] - The company’s internal management reforms led to a 58% reduction in reported approval matters from trial enterprises, enhancing operational autonomy[97] - The company is actively participating in the construction of green hydropower aluminum bases through investments in Yunnan Aluminum Co., Ltd.[95] - The company produced and safely disposed of 19,007 tons of aluminum ash in 2019, with 11,562 tons reused; carbon slag amounted to 45,400 tons, with 26,756 tons reused[157]