中国铝业（601600）公告，控股股东中铝集团及其一致行动人拟10亿元-20亿元增持公司A股及H股股 份，增持金额不超过公司总股本的2%。 ...

Group 1: Stock Suspension and Resumption - Beizhi Technology plans to acquire 100% of Suzhou Suike Intelligent Technology Co., Ltd., resulting in stock suspension [1] - Taihao Technology intends to issue shares to purchase 27.46% equity of Taihao Military Industry, leading to stock resumption. This acquisition is expected to strengthen the company's industrial layout in the military equipment sector [1] Group 2: Share Buyback - Wanhua Chemical's chairman proposed a share buyback plan ranging from 300 million to 500 million yuan [2] Group 3: Investment Cooperation and Operational Status - Guotai Junan has changed its A-share stock name to Guotai Haitong starting April 11 and has been approved to publicly issue company bonds not exceeding 60 billion yuan to professional investors [3] - Lizhong Group stated that the adjustment of U.S. tariffs will not significantly impact its production and operations [3] - Haoyang Co., Ltd. plans to invest no less than 603 million yuan in the construction of an entertainment equipment industrial base project [4] - Runjian Co., Ltd. is a candidate for the procurement project of comprehensive maintenance for Guangdong Unicom's 5G services, with a total bid scale of 179 million yuan [4] - Samsung Medical's wholly-owned subsidiary, Aix Smart Technology, won a transformer procurement framework project in Hungary, with a total contract amount of 23,840,958.10 euros, approximately 190 million yuan [4] - Nandu Property plans to increase its investment in Hangzhou Yunxiang Robot by 15 million yuan [5] Group 4: Performance Changes - Xiaogoods City reported a net profit of 803 million yuan in Q1, a year-on-year increase of 12.66%, mainly due to a 97 million yuan increase in gross profit from market operations and new businesses [6] - Kidswant expects a Q1 net profit between 29.1471 million and 38.4742 million yuan, a year-on-year increase of 150%-230%, driven by store upgrades, supply chain optimization, and AI development [6] - China CNR anticipates a Q1 net profit between 2.822 billion and 3.226 billion yuan, a year-on-year increase of 180%-220%, due to increased product sales [6] - Yonghe Co., Ltd. expects a Q1 net profit between 91 million and 103 million yuan, a year-on-year increase of 144.49% to 176.74%, attributed to strong demand for refrigerants and fluoropolymer materials [6] - Yinglian Co., Ltd. forecasts a Q1 net profit between 7.5 million and 11 million yuan, a year-on-year increase of 459.28%-720.28%, due to market expansion and improved gross margins [6] - Limin Co., Ltd. expects to achieve a net profit of 100 million to 120 million yuan in Q1 2025, turning a profit due to rising prices and increased sales of its main products [7] - China Aluminum anticipates a Q1 net profit between 3.4 billion and 3.6 billion yuan, a year-on-year increase of 53% to 63%, driven by increased production of major products [8] - Shandong Steel expects a total profit of approximately 15.3 million yuan in Q1 2025, with a net profit of around -1.45 million yuan, significantly reducing losses [8] - COSCO Shipping Holdings expects a Q1 net profit of 11.689 billion yuan, an increase of approximately 73.04% year-on-year [8] - Tiande Yu expects a Q1 net profit of 70.5681 million yuan, a year-on-year increase of 116.96%, driven by new product and market development [8] - Jinaobo expects a Q1 net profit between 33 million and 40 million yuan, a year-on-year increase of 128.18% to 176.59%, due to significant revenue growth in specialized equipment [8]

Core Viewpoint - China Aluminum Corporation, the largest aluminum producer in China, expects a significant increase in net profit for Q1 2025, driven by extreme operational efficiency and precise market analysis [1] Financial Performance - For Q1 2025, the company anticipates a net profit of 3.4 to 3.6 billion yuan, representing a year-on-year increase of 53% to 63% [1] - The total profit for Q1 2025 is projected to be between 6.2 to 6.7 billion yuan, reflecting a year-on-year growth of 30% to 40% [1] - In Q4 2024, the company reported revenue of 63.29 billion yuan, a year-on-year increase of 72.6% [3] - The net profit attributable to shareholders for Q4 2024 was 3.38 billion yuan, up 147.96% year-on-year and 69.14% quarter-on-quarter [3] - For the full year 2024, the company achieved a net profit of 12.4 billion yuan, an increase of 85.38% year-on-year, with revenue reaching 237.07 billion yuan, up 5.3% [4] Production and Market Dynamics - In 2024, the production of alumina and primary aluminum increased to 16.87 million tons and 7.61 million tons, respectively [5] - The external sales of primary aluminum rose by 11.76% to 7.6 million tons, indicating strong market demand [5] - The market price of alumina showed an upward trend in 2024, with domestic prices peaking at 5,780 yuan per ton and averaging 4,084 yuan per ton, a year-on-year increase of 39.9% [6] - Internationally, the average price of alumina was $502 per ton, reflecting a 46% year-on-year increase [6] Strategic Insights - The company has successfully implemented extreme cost reduction and efficiency enhancement strategies, leading to substantial performance improvements despite fluctuations in raw material prices and global market conditions [6] - The investment in the Boffa project in Guinea is expected to yield high-quality bauxite with a long remaining exploitable life, contributing to the company's self-sufficiency in bauxite supply [6]

Financial Projections - China Aluminum expects Q1 2025 total profit to be between RMB 6.2 billion and RMB 6.7 billion, an increase of 30% to 40% year-on-year [3]. - The net profit attributable to shareholders is projected to be between RMB 3.4 billion and RMB 3.6 billion, representing a year-on-year increase of 53% to 63% [3]. - In Q1 2024, the total profit was RMB 4.8 billion, and the net profit attributable to shareholders was RMB 2.2 billion [7][8]. Profit Increase Drivers - The company attributes the profit increase to precise market price analysis and comprehensive cost reduction and efficiency enhancement measures [10]. - The company aims to strengthen its competitive advantages through a series of initiatives, including cost reduction and efficiency enhancement 3.0 [11]. Supply Chain Management - China Aluminum is implementing an integrated response strategy to ensure the safety and stability of its supply chain amid market fluctuations [11]. - The company emphasizes the importance of its platform industries in enhancing integrated supply chain responsiveness and collaboration [11]. Industrial and Technological Development - China Aluminum is focusing on optimizing its industrial layout and expanding into small metal industries such as gallium, lithium, and magnesium [11]. - The company is advancing technological innovation, particularly in low-grade ore utilization and high-end product development [11]. Governance and Management - Management reforms are being pursued to enhance governance structure and operational efficiency [11].

此乃要件 請即處理 閣下如對本通函任何方面或應採取的行動有任何疑問，應諮詢 閣下的股票經紀或其他註冊證券商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已將名下的中國鋁業股份有限公司的股份全部售出，應立即將本通函送交買主或經手買賣的銀 行、股票經紀或其他代理商，以便轉交買主。 香港交易及結算所有限公司及香港聯合交易所有限公司對本通函的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本通函全部或任何部份內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 須予披露的交易及關連交易 獨立董事委員會及獨立股東的獨立財務顧問 本補充通函應與日期為2025年3月7日的臨時股東會通函及通告一併閱讀。 載有（其中包括）有關包頭鋁業擬吸收合併內蒙古華雲的須予披露的交易及關連交易事項的董事會函件 載於本補充通函第1頁至第17頁。 載有獨立董事委員會就有關包頭鋁業擬吸收合併內蒙古華雲的須予披露的交易及關連交易事項向獨立 股東作出的推薦建議的獨立董事委員會函件載於本補充通函第18頁至第19頁。 載有建泉融資就有關包頭鋁業擬吸收合併內蒙古華雲的須予披露的交易及關連交易事項向獨立董事委 員會及獨立 ...

致：香港交易及結算所有限公司 公司名稱: 中國鋁業股份有限公司 呈交日期: 2025年4月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 601600 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 13,211,666,110 | RMB | | 1 | RMB | | 13,211,666,110 | | 增加 / 減少 (-) | | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 13,211,666,110 | RMB | | 1 | RMB | | 13,211,666,110 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年3月31日 狀態: 新提交 | 2 ...

Group 1 - Morgan Stanley reports that aluminum producers will benefit from higher profit margins by 2025 due to falling raw material prices and a tightening global aluminum market [1] - The firm has raised target prices for several companies, including China Hongqiao from HKD 15.4 to HKD 19.8 and China Aluminum from RMB 8.7 and HKD 5.5 to RMB 9.1 and HKD 7, while lowering Nanshan Aluminum's target price from RMB 5.2 to RMB 5 [1] - The transition from a shortage of alumina in 2024 to a surplus in 2025 is expected to drive this change, with increased supply from coastal China and Guinea [2] Group 2 - Factors driving aluminum demand include Germany's new spending plan boosting construction and transportation needs, resilient demand from China's energy transition and automotive sectors, and a projected 1% demand growth in the US by 2025 [3] - The commodity research team anticipates a 4 million ton surplus in the global alumina market by 2025, increasing to 11 million tons by 2026, with alumina prices expected to drop to $350/ton in Q2 and stabilize between $350-$400/ton thereafter [4] - Companies expected to benefit from these trends include Alcoa in the US, Norsk Hydro in Europe, China Hongqiao and China Aluminum in China, and S32 and Rio Tinto in Australia [5] Group 3 - The increase in US tariffs on imported aluminum and related products may have a limited impact on China but will raise production costs for US manufacturers, potentially altering global aluminum trade flows and increasing costs for downstream users in the US [6]

Group 1 - The Shanghai Composite Index decreased by 0.46%, while the CSI Mainland Resource Theme Index fell by 0.42%, closing at 3390.97 points with a trading volume of 33.177 billion [1] - The CSI Mainland Resource Theme Index has increased by 7.17% over the past month, 1.59% over the past three months, and 2.24% year-to-date [1] - The index includes various theme indices such as consumption, resources, transportation, banking, and real estate, reflecting the overall performance of significant listed companies in the Shanghai and Shenzhen markets [1] Group 2 - The top ten holdings of the CSI Mainland Resource Theme Index are: Zijin Mining (16.63%), China Shenhua (7.05%), China Petroleum (5.19%), Sinopec (4.66%), Shaanxi Coal and Chemical Industry (4.28%), China Aluminum (3.3%), Northern Rare Earth (3.2%), CNOOC (3.03%), Luoyang Molybdenum (2.99%), and Shandong Gold (2.71%) [1] - The market share of the CSI Mainland Resource Theme Index is 79.00% from the Shanghai Stock Exchange and 21.00% from the Shenzhen Stock Exchange [1] Group 3 - In terms of industry composition, the index sample shows that materials account for 64.98% and energy accounts for 35.02% [2] - The index sample is adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December each year [2] - Temporary adjustments to the index sample occur when the CSI 800 Index undergoes changes, and companies that are delisted or undergo mergers and acquisitions are handled according to maintenance guidelines [2] Group 4 - Public funds tracking the mainland resources include Minsheng Jianyin CSI Mainland Resource C and Minsheng Jianyin CSI Mainland Resource A [3]

Core Viewpoint - China Aluminum achieved record-high operating performance in 2024, with significant increases in revenue and net profit, reflecting effective operational management and cost control [1][2][5]. Financial Performance - The company reported operating revenue of 237.066 billion yuan, a year-on-year increase of 5.21% from 225.319 billion yuan [4]. - The net profit attributable to shareholders reached 12.4 billion yuan, up 85.38% from 6.689 billion yuan in the previous year [5][11]. - Operating cash flow exceeded 30 billion yuan, marking a historical high for the company [3]. Cost Management - Operating costs for 2024 were 199.721 billion yuan, a slight increase of 1.74% from 196.311 billion yuan, primarily due to rising raw material prices [4]. - The company effectively managed costs despite the increase in operating revenue, maintaining a stable cost structure [4]. Dividend Distribution - China Aluminum plans to distribute cash dividends of 3.723 billion yuan, the highest since its listing in 2007 [2][11]. Debt and Financial Health - The company's debt-to-asset ratio improved to 48.10%, the lowest level in nearly a decade, with total debt reduced by approximately 12.4 billion yuan [3][11]. - The company reported a significant increase in investment income, reaching 996 million yuan, up 260.87% from 276 million yuan [7]. Strategic Goals - China Aluminum aims to become a world-class aluminum company, focusing on high-quality development, technological innovation, and green low-carbon initiatives [9][10]. - The company holds the top global capacity for various aluminum products and actively seeks overseas bauxite resources [9]. Research and Development - R&D investment for 2024 was 5.7 billion yuan, with total R&D spending from 2022 to 2024 amounting to 17.81 billion yuan [11]. - The company has established a robust technological framework, including 13 national-level research platforms [10].

Financial Performance - For the fiscal year ending December 31, 2024, the group achieved operating revenue of RMB 237.066 billion, an increase of 5.21% year-on-year[15]. - The net profit attributable to the owners of the parent company was RMB 12.4 billion, with basic earnings per share of RMB 0.723[15]. - The company's operating revenue for 2024 reached RMB 237,065,629 thousand, representing a 5.21% increase from RMB 225,319,044 thousand in 2023[22]. - The pre-tax profit for 2024 was RMB 22,321,902 thousand, an increase of 48.19% compared to RMB 15,062,650 thousand in 2023[22]. - Net profit attributable to the company's owners for 2024 was RMB 12,400,160 thousand, an 85.38% increase from RMB 6,689,067 thousand in 2023[22]. - The company's total assets as of December 31, 2024, were RMB 215,895,530 thousand, a slight increase of 1.89% from RMB 211,896,104 thousand in 2023[19]. - The total liabilities decreased to RMB 103,854,787 thousand in 2024 from RMB 112,866,670 thousand in 2023, indicating a reduction of approximately 8.94%[19]. - The net cash flow from operating activities for 2024 was RMB 32,807,186 thousand, which is a 21.37% increase from RMB 27,030,025 thousand in 2023[22]. - The basic earnings per share for 2024 were RMB 0.723, reflecting an 85.86% increase from RMB 0.389 in 2023[22]. - The gross profit for 2024 was RMB 35.529 billion, an increase of RMB 7.981 billion or 28.97% compared to RMB 27.548 billion in the previous year[141]. Corporate Strategy and Goals - The company aims to become a world-class aluminum company with global competitiveness, supported by a clear and pragmatic development strategy[6]. - The company plans to expand its market presence and enhance operational efficiency through an experienced management team[6]. - The company is focused on enhancing its management structure and optimizing operations through experienced leadership[30]. - The company aims to enhance value creation through optimized production operations and cost reduction initiatives[126]. - The company is focusing on resource development and supply assurance, including domestic mineral rights exploration and overseas resource acquisition[127]. - The company plans to accelerate the upgrade of traditional industries and develop emerging industries, including a 1200MW renewable energy project expected to be fully operational within the year[127]. - The company aims to strengthen risk prevention and control measures to ensure high-quality development and environmental protection[131]. Research and Development - The group emphasizes continuous technological innovation, with notable achievements in the transformation of scientific and technological results[6]. - The company's research and development expenses for 2024 were RMB 3,063,735 thousand, a decrease from RMB 3,729,423 thousand in 2023[18]. - The company obtained 519 new patent authorizations in 2024, maintaining the industry lead[117]. - The company is focused on technological innovation to improve resource utilization and production efficiency, aiming for a digitalized management approach[179]. Management and Governance - The company has a diverse board with independent directors, including Qiu Guanzhou, Yu Jinsong, and Chen Yuanxiu, each receiving RMB 21.84 million in remuneration[26]. - The company is committed to corporate governance, with independent directors and a well-structured board overseeing its operations[40]. - The company’s remuneration committee ensures that the remuneration standards for directors and senior management align with industry benchmarks and company performance[58]. - The company is committed to enhancing corporate governance and ensuring transparency in operations[200]. Market and Industry Trends - In 2024, China's aluminum production and consumption are expected to continue growing, maintaining its position as the world's largest producer for 23 consecutive years[179]. - The domestic aluminum price in 2024 saw an average increase of 8.2% for SHFE three-month aluminum and 6.7% for the average monthly aluminum price, reaching RMB 19,996 per ton and RMB 19,959 per ton, respectively[108]. - The company is addressing risks related to international operations and resource supply by closely monitoring global economic changes and enhancing resource security[187]. - The company anticipates significant fluctuations in the domestic and international bulk raw materials and non-ferrous metals markets by 2025, potentially narrowing the profit margins for its products[187]. Environmental and Social Responsibility - The company is actively involved in environmental management and safety, with a dedicated team led by Ms. Xu Shuxiang, focusing on energy conservation and environmental protection[44]. - The company is committed to implementing stringent safety and environmental standards, including a three-year action plan for ecological environment issues[189]. - The company is focused on enhancing its ESG management framework, with a dedicated committee to oversee social responsibility and environmental protection initiatives[193]. - The company actively participates in rural revitalization and charity activities, contributing to poverty alleviation efforts[196]. Human Resources - 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 company aims to enhance gender diversity in future hiring and promotions[68]. - The company’s management team includes professionals with advanced degrees in economics and management, ensuring a strong foundation for strategic decision-making[40]. Shareholder Information - The company expressed gratitude to shareholders for their support and concern during the fiscal year ending December 31, 2024[97]. - The proposed final dividend for the year 2024 is RMB 0.135 per share, amounting to approximately RMB 2.316 billion, pending approval at the annual general meeting[122]. - 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].