Financial Performance - The company's operating revenue for the first quarter of 2025 reached CNY 55,783,601 thousand, representing a year-on-year increase of 13.95%[8] - Net profit attributable to shareholders was CNY 3,537,681 thousand, up 58.78% compared to the same period last year[8] - Basic and diluted earnings per share both rose to CNY 0.207, reflecting a 59.23% increase year-on-year[8] - The company's operating profit for Q1 2025 reached 6,483,983 thousand RMB, an increase from 4,742,726 thousand RMB in Q1 2024, representing a growth of approximately 37%[35] - Net profit attributable to shareholders for Q1 2025 was 3,537,681 thousand RMB, compared to 2,228,067 thousand RMB in Q1 2024, marking a significant increase of about 59%[35] - Total comprehensive income attributable to the parent company for Q1 2025 was 3,537,377 thousand RMB, up from 2,222,713 thousand RMB in Q1 2024, reflecting an increase of approximately 59%[36] - Revenue for Q1 2025 reached 8,253,766 thousand RMB, a 12.6% increase from 7,327,531 thousand RMB in Q1 2024[50] - Net profit for Q1 2025 was 2,134,659 thousand RMB, compared to 769,611 thousand RMB in Q1 2024, representing a significant increase[51] Cash Flow and Liquidity - The net cash flow from operating activities increased by 75.06% to CNY 6,259,774 thousand[8] - Cash inflow from operating activities for Q1 2025 was 51,369,711 thousand RMB, compared to 45,688,696 thousand RMB in Q1 2024, representing an increase of approximately 12%[39] - The net cash flow from operating activities for Q1 2025 was 6,259,774 thousand RMB, significantly higher than 3,575,862 thousand RMB in Q1 2024, showing an increase of about 75%[39] - The company's cash and cash equivalents increased to 26,084,662,000 RMB from 22,210,445,000 RMB, a growth of 8.0%[29] - The net increase in cash and cash equivalents for Q1 2025 was 3,838,421 thousand RMB, a significant rise from 241,394 thousand RMB in Q1 2024[43] - Cash inflow from financing activities in Q1 2025 was 5,990,000 thousand RMB, compared to 3,490,000 thousand RMB in Q1 2024[55] - The company generated a net cash flow from financing activities of -863,310 thousand RMB, compared to -5,104,152 thousand RMB in Q1 2024, indicating an improvement[43] Assets and Liabilities - Total assets at the end of the reporting period were CNY 226,128,953 thousand, a 4.74% increase from the previous year[10] - Total liabilities rose to CNY 108,388,767 in Q1 2025, up from CNY 103,854,787 in Q4 2024, indicating a 4.9% increase[31] - The company's total equity reached CNY 117,740,186 as of March 31, 2025, compared to CNY 112,040,743 at the end of 2024, reflecting a growth of 5.0%[32] - The total current assets increased to 69,538,139,000 RMB from 59,051,122,000 RMB, a growth of 17.7%[29] - The total non-current assets amounted to CNY 156,590,814 as of March 31, 2025, slightly down from CNY 156,844,408 at the end of 2024, a decrease of 0.2%[30] - The company's total liabilities increased to 81,811,075 thousand RMB as of March 31, 2025, from 78,729,409 thousand RMB at the end of 2024[48] Shareholder Information - The company reported a total of 349,173 common shareholders at the end of the reporting period[19] - China Aluminum Group holds 5,139,204,916 shares, representing 29.96% of total shares[21] - Hong Kong Central Clearing holds 3,935,873,789 H-shares, accounting for 22.94% of total shares[21] - As of March 31, 2025, China Aluminum Group and its subsidiaries collectively hold 5,563,312,965 shares, approximately 32.43% of total issued shares[26] - The company has no shares under pledge or frozen status among the top shareholders[21] - The total number of shares held by the top 10 shareholders is significant, indicating concentrated ownership[22] Operational Metrics - The production of metallurgical-grade alumina was 448,000 tons, a 5.41% increase from the previous year[18] - The sales volume of self-produced metallurgical alumina reached 168,000 tons, up 12.00% year-on-year[18] - Operating costs for Q1 2025 were CNY 49,887,707, up 12.5% from CNY 44,532,735 in Q1 2024[34] - Research and development expenses decreased to CNY 365,228 in Q1 2025 from CNY 574,176 in Q1 2024, reflecting a reduction of 36.4%[34] - Investment income for Q1 2025 was CNY 454,470, significantly higher than CNY 85,664 in Q1 2024, marking a growth of 429.5%[34]

北京金诚同达律师事务所 法律意见书 金证法意[2025]字 0424 第 0297 号 中国铝业股份有限公司 二〇二五年第二次临时股东会的 关于 北京市建国门外大街1号国贸大厦A座十层 100004 电话：010-5706 8585 传真：010-8515 0267 金诚同达律师事务所 法律意见书 关于中国铝业股份有限公司 二〇二五年第二次临时股东会的 法律意见书 金证法意[2025]字 0424 第 0297 号 致：中国铝业股份有限公司 受中国铝业股份有限公司（以下简称"中国铝业"或"公司"）聘请和北京 金诚同达律师事务所（以下简称"本所"）委派，本所律师出席中国铝业二〇二 五年第二次临时股东会并对会议的相关事项出具法律意见书。 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民 共和国公司法》（以下简称"《公司法》"）、《上市公司股东会规则》（以下 简称"《股东会规则》"）、《律师事务所从事证券法律业务管理办法》《律师 事务所证券法律业务执业规则（试行）》等法律、法规和规范性文件的要求以及 《中国铝业股份有限公司章程》（以下简称"《公司章程》"）的规定，在会议 召开前和召开过程中，本所律 ...

Financial Performance - The company's operating revenue for Q1 2025 reached CNY 55,783,601, an increase of 13.95% compared to CNY 48,955,678 in the same period last year[3] - Net profit attributable to shareholders was CNY 3,537,681, reflecting a significant increase of 58.78% from CNY 2,230,265 year-on-year[3] - Basic and diluted earnings per share both increased to CNY 0.207, representing a growth of 59.23% compared to CNY 0.130 in the same quarter last year[3] - Net profit for Q1 2025 was RMB 5,471,301 thousand, up 35.3% from RMB 4,046,300 thousand in Q1 2024[17] - Operating profit for Q1 2025 was RMB 6,483,983 thousand, representing a 36.7% increase from RMB 4,742,726 thousand in Q1 2024[17] - The total comprehensive income attributable to the parent company for Q1 2025 was CNY 3,537,377 thousand, compared to CNY 2,222,713 thousand in Q1 2024, an increase of 59.3%[18] Cash Flow - The net cash flow from operating activities was CNY 6,259,774, up 75.06% from CNY 3,578,062 in the previous year[3] - The net cash flow from operating activities for Q1 2025 was CNY 6,259,774 thousand, compared to CNY 3,575,862 thousand in Q1 2024, indicating an increase of 75.0%[20] - In Q1 2025, the cash inflow from operating activities was CNY 7,922,097 thousand, a 34% increase from CNY 5,916,806 thousand in Q1 2024[28] - The net cash flow from operating activities decreased to CNY 1,101,399 thousand in Q1 2025, down 21% from CNY 1,393,430 thousand in Q1 2024[28] - Cash inflow from investment activities was CNY 1,020,134 thousand in Q1 2025, significantly lower than CNY 6,830,551 thousand in Q1 2024[28] - The net cash flow from investment activities was negative at CNY -338,296 thousand in Q1 2025, compared to a positive CNY 2,728,496 thousand in Q1 2024[28] - Cash inflow from financing activities increased to CNY 5,990,000 thousand in Q1 2025, up 72% from CNY 3,490,000 thousand in Q1 2024[28] - The net cash flow from financing activities improved to CNY -52,541 thousand in Q1 2025, compared to CNY -4,596,204 thousand in Q1 2024[28] Assets and Liabilities - Total assets at the end of the reporting period were CNY 226,128,953, a 4.74% increase from CNY 215,895,530 at the end of the previous year[4] - Current assets increased to RMB 69,538,139 thousand as of March 31, 2025, from RMB 59,051,122 thousand at the end of 2024, marking a rise of 17.7%[14] - Total liabilities as of March 31, 2025, were RMB 108,388,767 thousand, up from RMB 103,854,787 thousand at the end of 2024, indicating a growth of 4.9%[15] - The company's total liabilities as of March 31, 2025, were CNY 81,811,075 thousand, up from CNY 78,729,409 thousand at the end of 2024, indicating an increase of 2.6%[24] - The total equity attributable to shareholders of the parent company increased to RMB 73,227,737 thousand as of March 31, 2025, from RMB 69,191,321 thousand at the end of 2024, reflecting a growth of 5.9%[15] Production and Sales - The production of metallurgical-grade alumina was 448,000 tons, up 5.41% from 425,000 tons in Q1 2024[8] - The sales volume of self-produced metallurgical-grade alumina reached 168,000 tons, an increase of 12.00% compared to 150,000 tons in the same period last year[8] - The production of aluminum (including alloys) was 194,000 tons, reflecting an 8.99% increase from 178,000 tons year-on-year[8] Research and Development - Research and development expenses for Q1 2025 were RMB 365,228 thousand, down 36.4% from RMB 574,176 thousand in Q1 2024[17] - The company’s research and development expenses for Q1 2025 were CNY 24,074 thousand, a decrease from CNY 103,125 thousand in Q1 2024, reflecting a reduction of 76.7%[26] Investments - The company reported an investment income of RMB 454,470 thousand in Q1 2025, significantly higher than RMB 85,664 thousand in Q1 2024[17] - The company acquired part of the billet business from China Aluminum Group High-end Manufacturing Co., which is classified as a business combination under common control[4]

中国铝业：一季度营业收入557.84亿元，同比增长13.95%；归属于母公司所有者的净利润35.38亿元， 同比增长58.78%。 ...

Core Points - The A-share market's three major indices closed mixed, with the CSI 300 Metals and Mining Index at 2390.84 points [1] - The CSI 300 Metals and Mining Index has decreased by 2.48% over the past month, increased by 5.41% over the past three months, and risen by 7.96% year-to-date [1] - The CSI 300 Index categorizes its 300 sample stocks into 10 primary industries, 26 secondary industries, over 70 tertiary industries, and more than 100 quaternary industries [1] Industry Composition - The CSI 300 Metals and Mining Index has a weight distribution of 82.43% from the Shanghai Stock Exchange and 17.57% from the Shenzhen Stock Exchange [2] - The industry composition of the index includes precious metals at 45.45%, industrial metals at 21.32%, rare metals at 18.45%, steel at 11.70%, and other non-metal materials at 3.08% [2] Index Adjustments - The index samples are adjusted semi-annually, specifically on the second Friday of June and December, with temporary adjustments made under special circumstances [2] - When a sample stock is delisted, it is removed from the index, and any corporate actions such as mergers or splits are handled according to maintenance guidelines [2] - Adjustments to the CSI 300 industry index samples occur in tandem with changes to the CSI 300 Index samples [2]

Investment Rating - The report maintains an "Outperform" rating for the non-ferrous metals sector [2]. Core Insights - Gold prices are influenced by tariff policies, which create uncertainty and trigger risk aversion in the short term. The expectation of stagflation in the U.S. due to tariffs positions gold as an optimal asset allocation choice in the medium term. Long-term, the loosening of global capital ties to dollar assets may lead to increased inflows into gold from various global funds [1][9]. - The Federal Reserve's neutral stance is seen as supportive for gold prices, with recent comments from officials indicating no immediate need for rate hikes, which helps maintain a favorable environment for gold [1][9]. - Copper prices are stabilizing, with improving demand and decreasing domestic inventory. The report suggests that copper mining equities present a good opportunity for long-term investment [10][12]. Summary by Sections 1. Weekly Research Insights - Gold's price dynamics are primarily driven by tariff uncertainties, which affect market sentiment and asset allocation strategies [1][9]. - The Federal Reserve's current neutral position is beneficial for gold prices, with no immediate rate hikes expected [1][9]. 2. Sector Performance - The non-ferrous metals index increased by 0.78%, underperforming the broader market [12]. - Gold was the best-performing segment, rising by 4.58%, followed by nickel, cobalt, tin, and antimony [12]. 3. Metal Prices and Inventory 3.1. New Energy Metals - Cobalt prices increased, while lithium prices showed a slight decline [21][23]. 3.2. Base Metals - Copper prices rose by 1.63% to 76,000 CNY/ton, while aluminum prices remained stable [31][32]. 3.3. Precious Metals - COMEX gold prices rose by 2.6% to 3,328 USD/ounce, and silver prices increased by 1.8% to 32.47 USD/ounce [44][45].

Group 1 - A total of 34 listed companies announced share buybacks, increases, and related loan information during the week of April 14 to April 20 [1] - China Aluminum's controlling shareholder, Chalco Group, obtained a commitment letter for a special loan of up to 1.8 billion yuan for stock buybacks, having already increased its stake by approximately 400 million yuan [1] - China Railway announced it secured a commitment letter for a special loan of up to 1.6 billion yuan for share repurchase [1] Group 2 - Companies such as AVIC Heavy Machinery and Lingyi Technology plan to repurchase shares with loan amounts ranging from 200 million to 400 million yuan [3] - The controlling shareholder of Xiaogoods City received a commitment letter for a 900 million yuan increase in shareholding [3] - Other companies like Junsheng Electronics and China Electric Research also announced plans for share increases with loan commitments of 90 million yuan and 80 million to 160 million yuan respectively [3]

Financial Performance - For the fiscal year ending December 31, 2024, the company achieved operating revenue of RMB 237.07 billion, an increase of 5.21% year-on-year[15]. - The net profit attributable to the owners of the parent company was RMB 12.40 billion, with basic earnings per share of RMB 0.723[15]. - The gross profit for 2024 was RMB 35.53 billion, compared to RMB 27.55 billion in 2023, indicating a significant improvement in profitability[16]. - The company's operating costs were RMB 201.54 billion, which is an increase from RMB 197.77 billion in the previous year[16]. - The company reported a net financial expense of RMB 2.63 billion, a decrease from RMB 2.94 billion in 2023, indicating improved financial management[16]. - The company's net profit for the year ended December 31, 2024, reached RMB 19,381,819 thousand, an increase of 54.3% compared to RMB 12,555,903 thousand in 2023[18]. - Revenue for 2024 was RMB 237,065,629 thousand, reflecting a growth of 5.21% from RMB 225,319,044 thousand in 2023[22]. - The profit attributable to the owners of the parent company was RMB 12,400,160 thousand, an increase of 85.38% from RMB 6,689,067 thousand in 2023[22]. - The basic earnings per share for 2024 was RMB 0.723, up 85.86% from RMB 0.389 in 2023[22]. - The total assets as of December 31, 2024, amounted to RMB 215,895,530 thousand, a slight increase of 1.89% from RMB 211,896,104 thousand in 2023[19]. - The company's total liabilities decreased to RMB 103,854,787 thousand in 2024, down 7.9% from RMB 112,866,670 thousand in 2023[19]. - The net cash flow from operating activities for 2024 was RMB 32,807,186 thousand, representing a 21.37% increase from RMB 27,030,025 thousand in 2023[22]. - The weighted average return on equity for 2024 was 19.26%, an increase of 7.33 percentage points from 11.93% in 2023[22]. Management and Governance - The company has a clear and pragmatic development strategy aimed at becoming a globally competitive aluminum company[6]. - The company maintains stable and reliable bauxite resources, ensuring sustainable development capabilities[6]. - The company is focused on expanding its market presence and enhancing its competitive advantages through a complete industrial chain[6]. - The company is actively pursuing technological innovation and the transformation of scientific achievements to support high-quality development[6]. - The total pre-tax remuneration for senior management during the reporting period amounted to RMB 1,575.44 million[26]. - The company achieved historical best performance in 2024, exceeding its challenge targets, leading to significant increases in senior management remuneration[28]. - The company has implemented a new compensation structure for senior management, which includes basic salary, performance pay, and incentives for exceeding targets[28]. - The company’s board of directors has seen changes, with Shi Zhirong taking over as chairman and executive director from June 25, 2024[28]. - The company has a diverse management team with extensive experience in various sectors, including He Wenjian, who has held multiple leadership roles within the organization[30]. - The company is actively involved in the management of subsidiaries and has board representation in several affiliated companies[30]. - The company is focused on expanding its market presence and enhancing operational efficiency through management innovation and digital transformation[30]. - The company is committed to maintaining a competitive remuneration structure to attract and retain talent in line with industry standards[58]. - The company’s governance structure underwent significant changes with the appointment and resignation of several key personnel in 2024[61][62]. Research and Development - Research and development expenses for the year amounted to RMB 3.06 billion, reflecting the company's commitment to innovation despite a decrease from RMB 3.73 billion in 2023[16]. - The company achieved 519 new patent authorizations in 2024, maintaining the industry lead[117]. - The company is committed to enhancing innovation capabilities by advancing technology breakthroughs and integrating smart manufacturing[129]. - The company is focused on accelerating key scientific research projects and their application to provide solid technological support for high-quality development[197]. Market and Industry Trends - In 2024, China imported approximately 159 million tons of bauxite, an increase of 12.3% year-on-year, setting a new historical high[98]. - The domestic and international alumina prices showed a rising trend in 2024[100]. - In 2024, the average domestic alumina price in China was RMB 4,084 per ton, an increase of 39.9% year-on-year[101]. - Internationally, the average alumina price (FOB) in 2024 was $502 per ton, reflecting a year-on-year increase of 46%[102]. - The company is a leading player in the Chinese aluminum industry, with the highest global production capacity for alumina, electrolytic aluminum, and other aluminum products[176]. - The rapid development of new applications for aluminum, such as in new energy vehicles and 5G technology, is expected to significantly increase demand for aluminum products[179]. Sustainability and Environmental Initiatives - The company is committed to implementing stringent safety and environmental standards, including a three-year action plan for ecological environment issues[189]. - The company aims to reduce carbon emissions and improve energy efficiency to mitigate the impacts of climate change, contributing to the establishment of a green, low-carbon society[200]. - The company has established a rigorous mining reclamation process to create green mines, ensuring maximum resource utilization and minimal environmental impact[200]. - The company is committed to enhancing its ESG management framework, with a dedicated committee to oversee social responsibility and environmental protection initiatives[193]. - The company has integrated sustainable development concepts into its daily operations, actively responding to urgent global sustainability needs and contributing to the United Nations Sustainable Development Goals (SDGs)[196]. Shareholder and Capital Structure - The total number of employees as of December 31, 2024, is 63,133, with production personnel accounting for 80.7% of the workforce[67]. - The company has a gender distribution of 53,947 male employees (85.5%) and 9,186 female employees (14.5%)[68]. - The total share capital at the beginning of the reporting period was 17,161,591,551 shares, which decreased to 17,156,498,909 shares by the end of the period, reflecting a reduction of 5,092,642 shares[70]. - The company aims to increase the proportion of female members in future appointments and promotions[68]. - As of December 31, 2024, the largest shareholder, China Aluminum Group, holds 29.95% of the company's shares directly and 32.43% in total[83].

中国铝业股份有限公司（以下简称"公司"）于 2025 年 4 月 9 日披露了《中国 铝业股份有限公司关于控股股东及其一致行动人增持公司股份计划的公告》（公告 编号：临 2025-022），基于对公司未来发展前景的信心，并为切实维护中小投资者 利益，公司控股股东中国铝业集团有限公司（以下简称"中铝集团"）及其一致行 动人拟通过上海证券交易所（以下简称"上交所"）及香港联合交易所有限公司（以 下简称"香港联交所"）交易系统增持公司 A 股及 H 股股份，增持金额不低于人民 币 10 亿元，不超过人民币 20 亿元，增持股份数量不超过公司总股本的 2%，期限自 本次增持计划公告披露之日起不超过 12 个月，本次增持资金来源为增持主体自有资 金或金融机构增持股票专项贷款。 一、取得股票增持专项贷款承诺函的情况 公司于 2025 年 4 月 14 日收到控股股东中铝集团关于取得股票增持专项贷款承 诺函及增持股份进展情况的通知，为积极响应并充分运用好有关监管部门"支持股 票增持"的政策工具，中铝集团与中国工商银行股份有限公司北京市分行（以下简 称"中国工商银行北京市分行"）达成合作意向，中国工商银行北京市分行已向中 铝 ...

金融界4月14日消息，上证指数高开高走，沪深300金属与采矿指数 (300金属与采矿，L11606)报2338.48 点。 从沪深300金属与采矿指数持仓的市场板块来看，上海证券交易所占比82.34%、深圳证券交易所占比 17.66%。 从沪深300金属与采矿指数持仓样本的行业来看，贵金属占比44.88%、工业金属占比20.97%、稀有金属 占比18.85%、钢铁占比12.18%、其他非金属材料占比3.12%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。特殊情况下将对指数样本进行临时调整。当样本退市时，将其从指数样本中剔除。样本公司发 生收购、合并、分拆等情形的处理，参照计算与维护细则处理。当沪深300指数调整样本时，沪深300行 业指数样本随之进行相应调整。在样本有特殊事件发生，导致其行业归属发生变更时，将对沪深300行 业指数样本进行相应调整。 数据统计显示，沪深300金属与采矿指数近一个月下跌3.45%，近三个月上涨3.83%，年至今上涨 5.59%。 据了解，为反映沪深300指数样本中不同细分行业公司证券的整体表现，为投资者提供分析工具，将沪 ...