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 net profit for the parent company in 2022 was approximately RMB 1.683 billion, while the consolidated net profit attributable to shareholders was about RMB 4.192 billion[4]. - The net profit attributable to shareholders was CNY 4.19 billion, down 27.22% from CNY 5.76 billion in the previous year[19]. - The net profit after deducting non-recurring gains and losses was CNY 3.13 billion, a decline of 55.46% compared to CNY 7.03 billion in 2021[19]. - The total operating revenue for 2022 was CNY 291 billion, down CNY 7.9 billion from CNY 298.9 billion in the previous year, mainly due to a decrease in trade business volume[44]. - Operating costs for 2022 were CNY 257.6 billion, a reduction of CNY 4.6 billion from CNY 262.2 billion year-on-year, attributed to decreased costs related to reduced trade business volume[44]. - The company's net profit attributable to shareholders for 2022 was CNY 4.192 billion, a decrease of CNY 1.567 billion compared to last year's profit of CNY 5.759 billion, primarily due to a decline in profits from electrolytic aluminum and alumina products[43]. - The company achieved operating revenue of CNY 290.99 billion in 2022, a decrease of 2.64% compared to the previous year[80]. - Net profit attributable to shareholders was CNY 4.19 billion, with earnings per share of CNY 0.239[80]. Dividends and Profit Allocation - The company plans to allocate 10% of the parent company's net profit, amounting to RMB 168 million, to statutory reserves and distribute a cash dividend of RMB 0.36 per share, totaling approximately RMB 618 million, which represents 14.74% of the consolidated net profit[4]. - The company has completed the distribution of the 2021 annual dividend on August 19, 2022, with a cash dividend of 0.0318 CNY per share, totaling 544,891,195.38 CNY, which accounted for 10.73% of the net profit attributable to shareholders in 2021[200]. - The company’s cash dividend policy stipulates a minimum distribution of 10% of the available profit for the year or 30% of the average annual distributable profit over the last three years[200]. Risk Management and Compliance - The company has disclosed potential risks in the management discussion and analysis section, highlighting the importance of investor awareness regarding these risks[7]. - The company has established a comprehensive risk management and internal control system, with the board of directors overseeing its implementation and effectiveness[150]. - The audit committee emphasized the importance of internal control and risk management, urging the company to strengthen these areas[188]. - The company is addressing international operational risks, including supply chain challenges and regulatory compliance, by enhancing its global resource allocation capabilities[132]. - Safety and environmental risks are significant concerns, with the company implementing measures to enhance safety management and comply with increasing environmental standards[131]. Operational Efficiency and Strategy - The company plans to focus on market expansion and new product development in the upcoming year[19]. - The company is committed to expanding its product applications in high-end consumer sectors, including automotive, aerospace, and renewable energy[68]. - The company aims to enhance its cost competitiveness and operational performance through comprehensive benchmarking and management reforms[75]. - The company is exploring opportunities in green low-carbon transformation and the development of recycled aluminum[117]. - The company plans to optimize its industrial layout and energy structure to reduce energy consumption and enhance competitiveness[117]. Research and Development - Research and development expenses increased to CNY 4.805 billion in 2022, up CNY 2.388 billion from CNY 2.417 billion in the previous year, driven by investments in product process optimization and development of high-end products[47]. - The company completed 65 key R&D projects in 2022 and was granted 356 patents[39]. - The company is committed to innovation and aims to strengthen its technological capabilities, focusing on energy-saving and carbon-reduction technologies, as well as digital transformation initiatives[124]. Corporate Governance - The company has established a comprehensive corporate governance structure, ensuring clear responsibilities and effective operation among the shareholders' meeting, board of directors, supervisory board, and management team[135]. - The board of directors consists of 9 members, including 4 executive directors, 2 non-executive directors, and 3 independent non-executive directors, ensuring a majority of external directors[139]. - The company has implemented strict internal controls and governance practices in compliance with relevant laws and regulations[135]. - The independent directors provided independent opinions on significant matters such as related party transactions and executive compensation[140]. Market and Industry Position - The company is a leading player in the non-ferrous metal industry in China, with a comprehensive strength ranking among the top in the global aluminum industry[69]. - The company has the largest production capacity for alumina, primary aluminum, high-purity aluminum, and fine alumina globally[72]. - The company is positioned to leverage its extensive experience in the aluminum industry to drive future growth and innovation[171]. Acquisitions and Investments - The company completed the acquisition of a 19% stake in Yun Aluminum for approximately CNY 6.66 billion, making it a controlling shareholder[89]. - The company also acquired 100% of Pingguo Aluminum for about CNY 1.89 billion, integrating it into the consolidated financial statements[89]. - The company plans to acquire a 19% stake in Yunnan Aluminum Co., Ltd. as part of its strategic expansion efforts[179]. - The company intends to acquire 100% of Pingguo Aluminum Co., which aligns with its strategic development plan and aims to enhance asset integrity and business independence[188]. Employee and Management - The total number of employees in the company is 67,383, with 55,076 in production, 1,071 in sales, and 3,893 in technical roles[196]. - The company has implemented a performance-based salary distribution system, linking salary increases to performance improvements and establishing a comprehensive assessment tool package[197]. - The company has a strong management team with extensive experience in finance and operations, including positions held in various subsidiaries and related companies[170]. Investor Relations - The company held 57 investor meetings throughout 2022, with a total of 1,132 analyst participants[146]. - The company received an A-level rating for information disclosure from the Shanghai Stock Exchange for four consecutive years[149]. - The company’s chairman is the primary responsible person for investor relations management, ensuring effective communication and information disclosure[146].

Financial Performance - China Aluminum reported a revenue of RMB 100 billion for the first half of 2022, representing a year-on-year increase of 15%[2] - The company achieved a net profit of RMB 5 billion, up 20% compared to the same period last year[2] - The company's operating revenue for the first half of 2022 reached CNY 145.40 billion, an increase of 20.35% compared to CNY 120.82 billion in the same period last year[14] - Net profit attributable to shareholders was CNY 3.99 billion, up 28.93% from CNY 3.09 billion in the previous year[14] - The total profit for the first half of 2022 was 6.957 billion yuan, reflecting a year-on-year growth of 14.82%[34] - The company reported a decrease of 11.89% in net profit after deducting non-recurring gains and losses, totaling CNY 3.84 billion compared to CNY 4.36 billion in the previous year[14] - Basic earnings per share increased to CNY 0.230, a rise of 30.68% from CNY 0.176 in the same period last year[16] - The company’s net profit for the first half of 2022 is expected to show a positive trend, driven by operational efficiency and market expansion strategies[157] Production and Operations - The total aluminum production volume reached 1.5 million tons, an increase of 10% year-on-year[2] - The production of alumina reached 8.35 million tons, a 1.27% increase from 8.25 million tons in the same period last year[19] - The production of coal surged by 82.03%, reaching 5.57 million tons compared to 3.06 million tons in the previous year[19] - The company's total assets at the end of the reporting period were CNY 194.81 billion, a slight increase of 1.23% from CNY 192.43 billion at the end of the previous year[15] - The company has the largest alumina production capacity globally, high-purity aluminum capacity globally, and is the second-largest in primary aluminum production, with a total of 18 billion tons of bauxite resources overseas[22][23] Market and Strategic Initiatives - User data indicates a 25% increase in demand for aluminum products in the automotive sector[2] - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[2] - The company has allocated RMB 2 billion for research and development in new technologies for aluminum recycling[2] - The company is exploring potential acquisitions of smaller aluminum producers to enhance its production capacity[2] - The company aims to optimize its industrial structure and enhance cost competitiveness through continuous innovation and resource allocation[22] Environmental and Sustainability Efforts - The company emphasizes sustainable development by actively acquiring overseas bauxite resources while ensuring high resource assurance domestically[23] - The company aims to peak carbon emissions by 2025 and achieve carbon neutrality by 2055, with specific pathways outlined for reducing emissions in aluminum production[111] - The company has implemented a management model to reduce energy consumption in aluminum production, focusing on performance tracking and flexible production plans[111] - The company has established a quarterly ecological risk assessment system to monitor and address environmental risks[110] - The company is actively promoting new technologies and processes to reduce carbon emissions in alumina production[112] Financial Management and Governance - The company has implemented a management system that integrates party leadership into corporate governance, enhancing operational efficiency and strategic direction[29] - The company plans to enhance value management and implement a three-year cost reduction initiative to improve cost competitiveness and risk resistance[41] - The company has made changes to its board and supervisory committee, with new representatives elected to enhance governance[93] - The company reported a maximum daily deposit limit of 120 billion RMB with a deposit interest rate range of 0.525%-1.82%, resulting in a period-end balance of 102.59 billion RMB after a total deposit of 1,565.22 billion RMB during the period[127] Research and Development - New product development includes a lightweight aluminum alloy aimed at the aerospace industry, expected to launch in Q4 2022[2] - Research and development expenses in the first half of 2022 were CNY 1.626 billion, an increase of CNY 0.967 billion compared to CNY 0.659 billion in the same period last year, reflecting the company's commitment to energy conservation and emission reduction initiatives[52] - The company is focusing on new product development and technological advancements to enhance market competitiveness and drive future growth[157] Related Party Transactions - The company has conducted significant related party transactions, including purchasing alumina and aluminum products amounting to CNY 4.63 billion, accounting for 13.63% of similar transactions[119] - The total amount of major and regular related party transactions during the reporting period was 33.928 billion yuan, with purchases amounting to 10.662 billion yuan and sales amounting to 23.266 billion yuan[121] - The company’s related party transactions are conducted at market prices, ensuring compliance with regulatory standards[122] Risk Management - Risks associated with fluctuating raw material prices and regulatory changes have been identified and addressed in the report[2] - The company faces market risks due to factors such as the Russia-Ukraine conflict and inflation, but expects domestic policies to stabilize the economy in the second half of the year[81] - The company has identified safety and environmental protection as significant risks and is implementing measures to enhance safety and compliance with environmental regulations[83] - The company is addressing supply risks related to bauxite by improving resource supply capabilities and enhancing production management[83]

Financial Performance - The company's operating revenue for Q1 2022 was RMB 75,621,399 thousand, representing a 43.62% increase compared to RMB 52,652,764 thousand in the same period last year[2] - Net profit attributable to shareholders was RMB 1,574,894 thousand, a 60.52% increase from RMB 981,144 thousand year-on-year[2] - The basic earnings per share for Q1 2022 was RMB 0.091, up 65.34% from RMB 0.055 in the same period last year[3] - Total comprehensive income for Q1 2022 was RMB 2,241,633 thousand, compared to RMB 1,518,893 thousand in Q1 2021, indicating a 47.5% growth[16] - The company’s total costs for Q1 2022 were RMB 72,523,517 thousand, which is a 45.6% increase from RMB 49,826,193 thousand in the same period last year[15] 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 2,374,812 thousand in the previous year[2] - Cash flow from operating activities generated RMB 8,556,022 thousand, a substantial increase from RMB 2,374,812 thousand in Q1 2021[18] - The company's cash and cash equivalents were RMB 17,961,408,000, a decrease from RMB 19,177,992,000 in the previous year[13] - The cash and cash equivalents at the end of Q1 2022 were RMB 16,783,415 thousand, a decrease from RMB 17,853,244 thousand at the beginning of the quarter[19] - The cash and cash equivalents at the end of Q1 2022 were CNY 7,531,981 thousand, down from CNY 4,037,015 thousand in Q1 2021, reflecting changes in liquidity[25] 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 192,376,897 thousand at the end of the previous year[3] - Current assets totaled RMB 55,228,094,000, up from RMB 48,714,043,000 year-over-year[13] - Total liabilities as of March 31, 2022, were RMB 121,489,466,000, compared to RMB 119,593,400,000 at the end of 2021[14] - The total liabilities increased to CNY 73,487,539 thousand in Q1 2022 from CNY 72,714,553 thousand in Q1 2021, reflecting a slight rise in financial obligations[22] - The equity attributable to shareholders of the parent company increased to RMB 58,901,149,000 from RMB 57,264,687,000 year-over-year[14] Research and Development - The company reported a 161.30% increase in R&D expenses, primarily due to investments in optimizing electrolytic aluminum processes and developing high-end products[8] - Research and development expenses increased significantly to RMB 400,141 thousand, compared to RMB 153,135 thousand in the same period last year, marking a 161.5% rise[15] - Research and development expenses surged to CNY 72,683 thousand in Q1 2022, up from CNY 8,098 thousand in Q1 2021, indicating a focus on innovation[23] Shareholder Information - As of March 31, 2022, the total number of ordinary shareholders was 546,638, with the top ten shareholders holding a combined 66.65% of the shares[10] - China Aluminum Group holds 5,050,376,970 shares, representing 29.67% of the total shares outstanding[10] Investment Activities - The company completed the acquisition of metal gallium assets from China Rare Earth Holdings for a transaction value of RMB 392,411.6 thousand[3] - The total cash outflow from investing activities was CNY 7,888,283 thousand in Q1 2022, compared to CNY 6,533,142 thousand in Q1 2021, highlighting increased investment activity[24] Financial Expenses - The company’s financial expenses decreased to RMB 903,030 thousand in Q1 2022 from RMB 972,671 thousand in Q1 2021, a reduction of 7.1%[15] - The company incurred financial expenses of CNY 331,053 thousand in Q1 2022, slightly up from CNY 321,499 thousand in Q1 2021, indicating stable financing costs[23] Production Metrics - The production of alumina remained stable at 4,090,000 tons, while the production of fine alumina increased by 7.50% to 1,030,000 tons[7] Borrowings - The long-term borrowings stood at RMB 36,678,393,000, slightly up from RMB 36,266,071,000[14] - The company experienced a 47.69% decrease in current liabilities due to loan repayments[8]

Financial Performance - The net profit of the parent company for 2021 was RMB 2,546,421 thousand, while the consolidated net profit attributable to shareholders was RMB 5,079,562 thousand[3]. - The company plans to distribute a cash dividend of RMB 0.32 per 10 shares, totaling approximately RMB 544,726 thousand, which accounts for 10.72% of the consolidated net profit for 2021[3]. - The company will allocate 10% of the parent company's net profit, amounting to RMB 254,642 thousand, to statutory reserves[3]. - The audit report issued by PwC Zhong Tian is a standard unqualified opinion[3]. - In 2021, the company's operating revenue reached RMB 269.75 billion, a 45.03% increase compared to RMB 185.99 billion in 2020[17]. - The net profit attributable to shareholders was RMB 5.08 billion, representing a significant increase of 564.60% from RMB 764.31 million in the previous year[17]. - The net cash flow from operating activities was RMB 28.31 billion, up 89.28% from RMB 14.96 billion in 2020[17]. - The basic earnings per share rose to RMB 0.286, an increase of 853.33% compared to RMB 0.030 in 2020[18]. - The weighted average return on equity increased to 9.28%, up 7.88 percentage points from 1.40% in the previous year[18]. - The company's total assets at the end of 2021 were RMB 192.38 billion, a slight decrease of 1.37% from RMB 195.04 billion in 2020[17]. - The net assets attributable to shareholders increased to RMB 57.26 billion, a growth of 5.17% from RMB 54.45 billion in 2020[17]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching RMB 7.03 billion, up 1,586.93% from RMB 416.73 million in 2020[17]. Revenue and Cost Analysis - The total operating revenue for 2021 reached CNY 269.7 billion, up CNY 83.7 billion or 44.93% from CNY 186 billion in the previous year, mainly driven by rising prices of alumina and electrolytic aluminum[45]. - Operating costs for 2021 amounted to CNY 241.6 billion, an increase of CNY 69.8 billion or 40.56% from CNY 171.8 billion, primarily due to rising raw material prices[46]. - The aluminum industry segment generated revenue of 266.365 billion RMB, with a gross margin of 10.55%, reflecting a 3.13 percentage point increase year-over-year[88]. - The alumina segment's operating revenue for 2021 was CNY 56.546 billion, an increase of CNY 14.168 billion or 33.43% from CNY 42.378 billion, driven by increased production from new projects and rising alumina prices[64]. - The primary aluminum segment's operating revenue for 2021 was CNY 72.644 billion, an increase of CNY 20.755 billion or 39.94% from CNY 51.889 billion, primarily due to rising primary aluminum prices[65]. Market and Industry Trends - The global aluminum production reached approximately 67.78 million tons in 2021, with a consumption of about 69.15 million tons, marking a year-on-year growth of 3.8% and 9.1% respectively[33]. - The average price of alumina in China for 2021 was ¥2,798 per ton, an increase of 19.7% compared to 2020, with the highest price reaching ¥4,101 per ton[28]. - The international average price of alumina in 2021 was $331 per ton, which represents a 21.8% increase from the previous year[27]. - The average price of LME aluminum in 2021 was approximately USD 2,480 per ton, representing a 45.5% increase compared to 2020[30]. - The demand for aluminum is expected to remain stable, driven by growth in sectors such as new energy, electronics, and lightweight automotive applications[120]. Strategic Initiatives and Future Plans - The company plans to continue expanding its market presence and invest in new technologies and products to drive future growth[17]. - The company is focused on enhancing its operational efficiency and exploring potential mergers and acquisitions to strengthen its market position[17]. - The company aims to enhance its global competitiveness and become a world-class aluminum company, with the highest alumina production capacity globally and the second-highest primary aluminum production capacity[75]. - The company is committed to technological innovation and green development, establishing a green metallurgy research institute to focus on energy-saving and emission-reduction technologies[80]. - The company plans to enhance production efficiency and capacity utilization, aiming for stable and full production of electrolytic aluminum[123]. - The company is committed to achieving carbon neutrality by 2025, with significant investments in green technologies[158]. Governance and Compliance - The company has established a comprehensive corporate governance structure, ensuring clear responsibilities and effective operation among the shareholders' meeting, board of directors, supervisory board, and management team[137]. - The company’s controlling shareholder is China Aluminum Group, with the actual controller being the State-owned Assets Supervision and Administration Commission, ensuring independence in operations[139]. - The board of directors consists of nine members, including four executive directors, two non-executive directors, and three independent non-executive directors, meeting legal requirements for composition[139]. - The company has implemented a performance-based salary distribution system, linking salary increases to performance outcomes[185]. - The company’s independent directors fulfilled their responsibilities and ensured the protection of minority shareholders' rights[191]. Research and Development - The company implemented 36 major R&D projects and added 35 authorized invention patents, focusing on key technological breakthroughs[38]. - Research and development expenses for 2021 were CNY 2.362 billion, an increase of CNY 928 million or 64.73% from CNY 1.434 billion, reflecting increased investment in product process optimization and development of high-end products[49]. - The total R&D investment in 2021 was 2,492.95 million yuan, representing 0.92% of operating revenue[96]. - Research and development investments increased by 20%, focusing on sustainable materials and production processes[157]. Risk Management - The company has established risk management strategies to address market fluctuations and international operational risks, including supply chain management[132][133]. - The company is facing resource acquisition risks due to low domestic bauxite resources and increased costs, prompting strategies to engage in quality mining rights transfers[135]. - The audit committee emphasized the importance of internal control and risk management, urging continuous improvement in these areas[176]. Environmental and Social Responsibility - The company is actively addressing safety and environmental risks by enhancing safety standards and promoting green development initiatives[134]. - The company improved its MSCI ESG rating from "CCC" to "B" and was ranked fourth in the "Central Enterprises ESG Pioneer 50 Index" in 2021[144]. - The company is committed to improving its ecological and environmental protection mechanisms to enhance management efficiency and compliance with environmental standards[134].

Financial Performance - The company reported a significant increase in revenue, achieving a total of 100 billion RMB for the first half of 2020, representing a year-on-year growth of 15%[14]. - The company's operating revenue for the first half of 2020 was CNY 84,108,752, a decrease of 11.48% compared to CNY 95,020,681 in the same period last year[20]. - The net profit attributable to shareholders for the first half of 2020 was CNY 35,712, down 94.95% from CNY 707,411 in the previous year[20]. - The total revenue for the first half of 2020 was approximately 40.66 billion, with a net profit of 12.93 billion, reflecting a significant operational scale[95]. - The company reported a net profit of 35,712 thousand RMB for H1 2020, a significant recovery from a loss of 2,763,078 thousand RMB in the previous year[189]. - The total operating revenue for the first half of 2020 was CNY 84,108,752, a decrease of 11.5% compared to CNY 95,020,681 in the same period of 2019[176]. - Net profit for the first half of 2020 was CNY 229,842, down 80.4% from CNY 1,172,166 in the first half of 2019[176]. Market Expansion and Strategy - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2022[14]. - A strategic acquisition of a local competitor is in progress, which is projected to enhance the company's market position and increase annual revenue by 5 billion RMB[14]. - The company aims to become a world-class aluminum company with global competitiveness, focusing on extending the industrial chain to increase added value[32]. - The company is actively exploring innovative business models and adjusting its industrial structure to enhance its competitive edge in the aluminum industry[28]. Research and Development - The company has invested 1 billion RMB in R&D for new technologies aimed at reducing production costs by 15% over the next two years[14]. - Research and development expenses increased to 3.72 billion RMB in the first half of 2020, up 1.31 billion RMB from 2.41 billion RMB in the same period last year, mainly due to increased investment in improving bauxite utilization and high-quality alumina research[61]. - The company has successfully developed multiple high-value-added new products, including 4N5 high-activity alumina and 11 types of aluminum alloy ingots for various applications[46]. Operational Efficiency - The company has established a complete industrial chain covering bauxite mining, alumina production, electrolytic aluminum, and aluminum alloy products[34]. - The company has established a five-level engineer system, creating a professional and experienced technology talent team led by chief engineers, significantly enhancing operational efficiency and cost reduction[35]. - The company is focusing on optimizing resource allocation and enhancing supply chain management to improve operational efficiency[50]. Financial Stability and Risk Management - The company has maintained a strong balance sheet with a debt-to-equity ratio of 0.5, indicating financial stability[14]. - The company reported a debt risk due to potential funding tightness from macroeconomic and industry chain risks, prompting measures to control new debt and monitor financial conditions[96]. - The company has implemented a centralized fund management system to better control financial resources and mitigate debt risks[97]. - The company is committed to a "cash is king" strategy, tightening credit limits and ensuring financial stability during the pandemic[48]. Environmental and Sustainability Initiatives - The company has committed to sustainability initiatives, aiming for a 20% reduction in carbon emissions by 2025[14]. - The company has achieved zero discharge of industrial wastewater in its aluminum smelting enterprises, utilizing a complete industrial wastewater recycling system[144]. - The company has implemented an energy management system, focusing on energy efficiency benchmarking and optimization of energy consumption indicators[142]. - The company continues to enhance its poverty alleviation efforts with a focus on education, employment, and sustainable development[129]. Shareholder and Corporate Governance - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2020[105]. - The company has appointed PwC and Deloitte as its new auditors for the 2020 fiscal year after Ernst & Young reached the maximum audit tenure of eight years[108]. - The total number of ordinary shareholders as of the reporting period end is 434,799[148]. Related Party Transactions - The company reported a total of 6,096,526 thousand RMB in sales of primary aluminum and other products to its subsidiaries, accounting for 25.92% of similar transactions[113]. - The company purchased alumina and primary aluminum products from its subsidiaries for a total of 2,712,294 thousand RMB, representing 11.53% of similar transactions[112]. - The company has maintained compliance with market pricing principles in all related party transactions reported[112].

Financial Performance - The net profit attributable to shareholders for the first nine months of 2018 was approximately RMB 1.5 billion, an increase of 11.02% compared to the same period in 2017[5]. - The operating revenue for the first nine months of 2018 was RMB 125.72 billion, a decrease of 10.25% year-on-year[5]. - The net profit for Q3 2018 was CNY 969,856, slightly down from CNY 971,257 in Q3 2017, representing a decrease of 0.1%[38]. - The company reported a total profit of CNY 1,207,168 for Q3 2018, an increase of 10.2% compared to CNY 1,095,638 in Q3 2017[37]. - The company reported a total operating revenue of CNY 125,716,924 for the first nine months of 2018, down 10.3% from CNY 140,078,509 in the same period of 2017[37]. - The net profit from continuing operations for Q3 2018 was a loss of RMB 329,034 thousand, compared to a profit of RMB 204,913 thousand in the same period last year[42]. - Total comprehensive income for Q3 2018 was RMB -330,907 thousand, down from RMB 205,687 thousand year-over-year[42]. Cash Flow and Liquidity - The net cash flow from operating activities for the first nine months of 2018 was RMB 8.98 billion, an increase of 6.24% compared to the same period last year[5]. - Cash inflow from operating activities for the first nine months of 2018 was RMB 113,709,523 thousand, a decrease of 10.0% from RMB 126,973,752 thousand in the previous year[45]. - Net cash flow from operating activities for the first nine months of 2018 was RMB 8,981,045 thousand, an increase of 6.2% compared to RMB 8,453,754 thousand last year[45]. - Cash outflow from investing activities for the first nine months of 2018 was RMB 4,987,745 thousand, down 53.7% from RMB 10,723,739 thousand in the previous year[46]. - Net cash flow from financing activities for the first nine months of 2018 was RMB -12,361,675 thousand, worsening from RMB -8,933,782 thousand year-over-year[46]. - The cash and cash equivalents at the end of Q3 2018 stood at RMB 23,025,920 thousand, compared to RMB 16,247,149 thousand at the end of the same period last year[46]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 202.93 billion, an increase of 1.25% from the end of the previous year[5]. - The total assets as of September 30, 2018, amounted to 202.93 billion RMB, compared to 200.41 billion RMB at the beginning of the year[31]. - Total liabilities increased to 136.28 billion RMB from 134.90 billion RMB at the beginning of the year[32]. - The total liabilities decreased to CNY 70,597,796 in Q3 2018 from CNY 78,751,285 in Q3 2017, a reduction of 10.5%[35]. - The total equity increased to CNY 36,481,912 in Q3 2018 from CNY 36,184,830 in Q3 2017, reflecting a growth of 0.8%[35]. Investments and Expenditures - The cash and cash equivalents decreased by 17%, primarily due to the repayment of maturing debts[11]. - The prepayments increased by 210%, mainly due to procurement prepayments not yet settled[12]. - The construction in progress increased by 38%, attributed to increased expenditures on key projects[14]. - Research and development expenses rose by 224%, indicating a significant increase in investment in R&D[21]. - Research and development expenses increased to CNY 119,080 in Q3 2018, up from CNY 49,674 in Q3 2017, marking a significant increase of 139.5%[37]. Financing Activities - Short-term borrowings increased by 24%, mainly due to new bank loans[15]. - Long-term borrowings increased by 31%, as the company optimized its debt structure with new medium to long-term bank loans[19]. - The company's bonds payable increased by 119%, primarily due to the optimization of the debt structure and the issuance of new medium to long-term bonds[20]. - The company received RMB 53,931,559 thousand in borrowings during the first nine months of 2018, an increase of 4.0% from RMB 51,366,655 thousand in the previous year[46]. - The company issued bonds worth RMB 7,240,000 thousand in the first nine months of 2018, compared to RMB 3,500,000 thousand in the same period last year[46]. - The total cash inflow from financing activities for the first nine months of 2018 was RMB 61,888,939 thousand, an increase of 11.0% from RMB 55,607,268 thousand in the previous year[46]. Future Plans - The company plans to issue A-shares to acquire stakes in several companies, including a 30.7954% stake in Chalco Shandong and a 36.8990% stake in Chalco Zhongzhou[25]. - The total valuation of the assets to be acquired is approximately 12.71 billion RMB, with the issuance of about 2.12 billion shares at a price of 6.00 RMB per share[26]. - The company has received preliminary approval from the State-owned Assets Supervision and Administration Commission for the asset restructuring plan[26].

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 82,056,113, a decrease of 10.24% compared to CNY 91,421,061 in the same period last year[20]. - Net profit attributable to shareholders for the first half of 2018 was CNY 848,337, an increase of 15.13% from CNY 736,877 in the previous year[20]. - The company's net profit for the current period is CNY 1,360,713 thousand, compared to CNY 1,230,505 thousand in the previous period, reflecting an increase of approximately 10.6%[23]. - The company's net profit for the first half of 2018 was 848 million yuan, an increase of 111 million yuan compared to 737 million yuan in the same period last year[62]. - Total operating revenue for the first half of 2018 was CNY 82,056,113, a decrease of 10.5% compared to CNY 91,421,061 in the same period last year[197]. - Net profit attributable to shareholders of the parent company was CNY 848,337, an increase of 15.1% from CNY 736,877 in the previous year[197]. - The company reported a gross profit margin of approximately 1.2% for the first half of 2018, compared to 1.4% in the same period last year[197]. - Total profit for the first half of 2018 was CNY 611,656, a rise of 35.1% compared to CNY 452,961 in the previous year[199]. Cash Flow and Assets - The net cash flow from operating activities increased by 25.74% to CNY 6,742,457 compared to CNY 5,362,220 in the same period last year[20]. - The total assets at the end of the reporting period were CNY 204,691,180, reflecting a 2.27% increase from CNY 200,146,616 at the end of the previous year[20]. - Cash and cash equivalents stood at 24.477 billion RMB as of June 30, 2018[95]. - As of June 30, 2018, current assets increased to 70.038 billion RMB, while current liabilities decreased to 81.896 billion RMB, resulting in a reduction of 80.81 million RMB[87]. - Non-current assets rose to 134.653 billion RMB, an increase of 2.856 billion RMB, primarily due to growth in fixed assets and construction in progress[88]. - The asset-liability ratio decreased to 66.72%, down 0.55 percentage points from the end of 2017[88]. - Total liabilities amounted to CNY 136,560,237, slightly up from CNY 134,632,737 at the beginning of the period[190]. Research and Development - Research and development expenses increased to 136 million yuan in the first half of 2018, up 1.07 billion yuan from 29 million yuan in the same period last year, reflecting increased investment in R&D[67]. - Research and development expenses surged by 368.91% to 135.582 million RMB, reflecting increased investment in R&D[100]. - Research and development expenses increased significantly to CNY 39,478, up from CNY 9,014, reflecting a growth of 338.5%[199]. Industry and Market Conditions - The company faced risks from global and domestic macroeconomic conditions, including trade frictions, which could impact the non-ferrous metals and mining industry[7]. - The aluminum industry is experiencing a weak balance between supply and demand, leading to competitive pressures on the company's operations[7]. - The aluminum industry in China has seen a negative growth in electrolytic aluminum production in the first half of 2018, while consumption remained stable, leading to a balanced supply-demand situation[34]. - The average price of Australian alumina reached 452 USD/ton in the first half of 2018, an increase of 42.14% compared to the same period last year[41]. - Domestic alumina prices peaked at 3,172 yuan/ton in the first half of 2018, with an average price of 2,888 yuan/ton, up 7.68% year-on-year[42]. - The average price of LME aluminum in the first half of 2018 was 2,209 USD/ton, a year-on-year increase of 17.63%[44]. Strategic Initiatives - The company aims to become a world-class non-ferrous metal enterprise with a clear strategy to optimize its industrial structure and enhance product quality[36]. - The company has actively expanded its energy sector business to mitigate the impact of fluctuating aluminum prices, enhancing its operational stability[30]. - The company is focusing on sustainable resource management and has been acquiring new bauxite resources in Southeast Asia and Africa[36]. - The company has implemented a rigorous performance evaluation system to enhance operational efficiency and cost reduction[36]. - The company is committed to complying with environmental standards and has been actively phasing out inefficient production capacities[32]. - The company plans to enhance its product cost competitiveness and increase market influence through structural adjustments and transformation upgrades[120]. Environmental and Safety Management - The company established a dedicated Safety, Environmental Protection, and Health Department, achieving a safety production standard level above 2 for all mines[47]. - In the first half of 2018, the company advanced 14 key environmental projects, including waste treatment and ultra-low emissions upgrades, all progressing as planned[48]. - The company has implemented an emergency response plan for environmental incidents, detailing prevention, warning mechanisms, and emergency management procedures[150]. - The company has achieved "zero discharge" wastewater treatment in multiple facilities, enhancing its environmental compliance[148]. - The company has successfully upgraded pollution control facilities in several subsidiaries, contributing to improved environmental performance[148]. Corporate Governance and Shareholder Information - The company reported a current ratio of 0.86, an increase of 13.16% compared to the previous year[183]. - The total number of ordinary shareholders is 545,353[167]. - The largest shareholder, China Aluminum Group Co., Ltd., holds 4,890,776,306 shares, representing 32.82% of the total shares[169]. - The company received an inquiry letter from the Shanghai Stock Exchange regarding the asset purchase plan on February 7, 2018, and resumed trading on February 26, 2018[164]. - The company’s stock was suspended from trading starting September 12, 2017, due to significant asset restructuring plans[163]. - The company’s board approved the asset purchase plan on January 31, 2018, which is pending approval from the shareholders' meeting scheduled for September 17, 2018[165]. Related Party Transactions - The group engaged in significant related party transactions totaling 18 billion RMB, with purchases amounting to 8.6 billion RMB and sales reaching 9.4 billion RMB[133]. - The company reported a total of 1,432,673 thousand RMB in transactions for purchasing alumina and aluminum products from its parent company, accounting for 7.97% of similar transactions[132]. - The company has a total of 5,715,311 thousand RMB in sales transactions for alumina and aluminum products, representing 31.78% of similar transactions[132]. Community Engagement - The company has committed approximately RMB 19.4 million for poverty alleviation donations in 2018, including RMB 14.4 million for Tibet and Qinghai[144]. - The company is actively involved in community development and has engaged in various public welfare activities[144].

Financial Performance - Operating revenue decreased by 10.47% to CNY 36,670,187 compared to the same period last year[6] - Net profit attributable to shareholders decreased by 19.40% to CNY 308,643 compared to the same period last year[6] - Cash flow from operating activities decreased by 41.22% to CNY 1,488,836 compared to the same period last year[6] - Basic earnings per share decreased by 20.83% to CNY 0.019[6] - Total operating revenue for Q1 2018 was CNY 36,670,187, a decrease of 10.4% compared to CNY 40,959,055 in the same period last year[35] - Net profit for Q1 2018 was CNY 490,829, down 24.5% from CNY 650,074 in the previous year[35] - Operating profit decreased to CNY 697,796, a decline of 13.9% from CNY 811,144 in Q1 2017[35] - Total operating costs for Q1 2018 were CNY 36,582,325, a decrease of 9.8% compared to CNY 40,238,980 in the same period last year[35] - Total comprehensive income for Q1 2018 was CNY 565,512, slightly up from CNY 562,805 in the previous year[35] Asset and Liability Management - Total assets increased by 1.21% to CNY 202,570,201 compared to the end of the previous year[6] - The company's current assets decreased to CNY 67,708,343 thousand from CNY 68,349,306 thousand, primarily due to a reduction in cash and cash equivalents[30] - Short-term borrowings increased significantly to CNY 36,154,247 thousand from CNY 30,834,442 thousand, indicating a rise in financial leverage[31] - The total liabilities rose to CNY 135,316,953 thousand from CNY 134,632,737 thousand, reflecting an increase in both current and non-current liabilities[31] - The total current liabilities decreased to CNY 87,659,183 thousand from CNY 89,976,902 thousand, indicating better short-term financial management[31] Shareholder Equity - Net assets attributable to shareholders increased by 28.24% to CNY 50,627,025 compared to the end of the previous year[6] - The equity attributable to shareholders of the parent company increased to CNY 50,627,025 thousand from CNY 39,478,450 thousand, showing a growth in retained earnings and capital reserves[31] Cash Flow and Investments - Cash flow from operating activities generated a net inflow of CNY 1,488,836, down 41.2% from CNY 2,532,902 in the same period last year[39] - The company experienced a cash outflow from financing activities of CNY 8,382,781, compared to an outflow of CNY 2,795,163 in the previous year[40] - Investment income increased by 89% year-on-year, mainly due to increased investment income from mergers not under common control[25] - The company reported a significant increase in investment income to CNY 228,245, up from CNY 120,690 in the previous year[35] Accounts Receivable and Inventory - Accounts receivable increased by 52% compared to the beginning of the year, mainly due to uncollected product payments[13] - Prepayments increased by 172% compared to the beginning of the year, mainly due to an increase in unsettled contract payments[14] - The company's inventory increased to CNY 23,117,609 thousand from CNY 20,346,709 thousand, suggesting a buildup of stock[30] Long-term Investments and Projects - The long-term investments decreased to CNY 12,065,682 thousand from CNY 12,942,654 thousand, indicating a potential divestment or depreciation in value[30] - The company has ongoing construction projects with capitalized costs increasing to CNY 13,201,711 thousand from CNY 9,845,319 thousand, reflecting investment in future capacity[30] Return on Equity - The weighted average return on equity decreased by 0.31 percentage points to 0.69%[6]

Financial Performance - The company's adjusted revenue for 2017 reached ¥180,080,750, representing a 24.86% increase compared to ¥144,065,518 in 2016[20]. - Net profit attributable to shareholders was ¥1,378,435, a significant increase of 274.16% from ¥368,412 in the previous year[20]. - The adjusted net profit excluding non-recurring gains and losses was ¥782,993, compared to a loss of ¥397,618 in 2016[20]. - Operating cash flow for the year was ¥13,127,777, up 13.85% from ¥11,518,674 in 2016[20]. - Basic earnings per share increased to ¥0.09, a 350% rise from ¥0.02 in 2016[21]. - The weighted average return on equity rose to 3.55%, an increase of 2.61 percentage points from 0.94% in 2016[21]. - The total operating revenue for 2017 reached 180.081 billion yuan, up 35.8% from 144.229 billion yuan in the previous year, primarily due to rising product prices and increased sales volume[59]. - The operating cost for 2017 was 165.111 billion yuan, an increase of 23.8% from 133.376 billion yuan in the previous year, mainly due to rising product costs and increased sales volume[60]. - The aluminum oxide segment generated operating revenue of 38.079 billion yuan in 2017, an increase of 26.8% from 30.027 billion yuan in the previous year, driven by higher prices and sales volume[70]. - The primary aluminum segment reported operating revenue of 47.246 billion yuan in 2017, a 37.1% increase from 34.464 billion yuan in the previous year, attributed to rising prices and sales volume[72]. - The trading segment's operating revenue for 2017 was 146.815 billion yuan, an increase of 28.4% from 114.346 billion yuan in the previous year, due to increased trading volume and rising prices of key products[74]. - The energy segment's operating revenue reached 6.251 billion yuan in 2017, up 38.3% from 4.52 billion yuan in the previous year, primarily due to rising coal prices and increased sales volume[76]. Investments and Acquisitions - The company acquired 100% equity of Chinalco Qingdao Light Metal Co., Ltd. and the wastewater treatment business of Chinalco Shanxi Aluminum Energy Utilization Center during the year[22]. - The company has established a 10 billion yuan industrial investment fund and a 10 billion yuan supply-side structural reform investment fund to innovate financing methods[53]. - The company plans to raise a total of RMB 12.6 billion through equity financing and debt conversion involving eight investors[177]. - Following the capital increase, the company intends to acquire 30.80% of the equity in Chalco Shandong, 25.67% in Baotou Aluminum, 81.14% in Chalco Mining, and 36.90% in Chalco Zhongzhou Aluminum[178]. - The company has initiated the construction of the Guizhou Light Alloy New Materials project, holding a 40% stake in the joint venture[180]. - The company completed a merger and restructuring of its Shanxi branch with Shanxi Huaze Aluminum Electric Co., increasing its stake from 60% to 85.98%[181]. Risk Management - The company reported significant risks including economic environment risk, industry competition risk, and market price risk, which could impact financial performance[7]. - The company has reduced its asset-liability ratio significantly in recent years, but still faces potential cash flow risks due to national monetary policy[8]. - The company is subject to stricter safety and environmental regulations, which could lead to substantial financial losses in case of accidents[8]. - The company plans to strengthen financial management and risk control to mitigate cash flow risks[139]. - The company faces significant economic environment risks due to global and domestic macroeconomic factors, which may impact its business and financial performance[137]. - The aluminum industry is experiencing a weak balance between supply and demand, leading to intensified competition and challenges for the company[138]. - Market price fluctuations of aluminum products and raw materials pose potential significant impacts on the company's financial status and operational performance[138]. Corporate Governance and Compliance - The board of directors proposed not to distribute cash dividends for the year 2017 due to profits being used to offset previous losses[5]. - The company does not have any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has not provided any guarantees in violation of regulatory decision-making procedures[7]. - The company’s financial report is confirmed to be true, accurate, and complete by its responsible persons[4]. - The company has engaged Ernst & Young Huaming as its auditor, which issued a standard unqualified audit opinion[4]. - The total remuneration for domestic and overseas audit services provided by Ernst & Young Huaming and Ernst & Young for the year 2017 amounted to RMB 23,080,000, which includes RMB 21,800,000 for audit and internal control services and RMB 1,280,000 for other audit and non-audit fees[149]. - The company has continued to engage Ernst & Young Huaming for domestic and US business audits and Ernst & Young for Hong Kong business audits, with the engagement period lasting until the conclusion of the 2017 annual general meeting[151]. Environmental and Social Responsibility - The company has 18 subsidiaries listed as key pollutant discharge units, with 17 classified as key monitoring enterprises for air emissions[187]. - The company faced a fine of ¥100,000 from the Lanzhou Environmental Protection Bureau for improper hazardous waste management in November 2017[187]. - The company has initiated the construction of a harmless disposal production line for hazardous waste, which commenced operation on March 5, 2018[188]. - The company aims to achieve 100% compliance with air and water pollutant discharge standards in 2018[192]. - The company has committed to enhancing its environmental protection measures, including improving pollution source monitoring systems and solid waste management[192]. - In 2017, the company allocated ¥10.318 million for poverty alleviation and donations, an increase of ¥2.27 million compared to 2016[184]. - The company plans to allocate approximately ¥9.5 million for poverty alleviation donations in 2018, including ¥7.5 million for targeted assistance in Tibet and Qinghai[184]. Market Trends and Industry Dynamics - The aluminum industry is experiencing a weak balance between production and market demand, leading to ongoing pressure on capacity utilization[8]. - The domestic aluminum industry has seen significant improvements in supply-demand conditions due to government policies aimed at eliminating outdated production capacity[34]. - The overall market trend indicates a growing demand for alumina and electrolytic aluminum, driven by increasing production and consumption rates in China[128]. - In 2017, global alumina production reached approximately 130.5 million tons, with a consumption of about 130.32 million tons, representing year-on-year growth of 7.7% and 6.6% respectively[43]. - China's alumina production was around 70.25 million tons, with consumption at 72.49 million tons, showing year-on-year increases of 16.8% and 12.56%[43]. - The global aluminum market saw a significant improvement in supply-demand dynamics, with LME three-month aluminum prices peaking at $2,280 per ton by December 2017, a 35.1% increase from the previous year[44][45]. - The average LME spot and three-month aluminum prices for 2017 were $1,968 per ton and $1,980 per ton, reflecting increases of 22.7% and 23.4% compared to 2016[45]. - China's primary aluminum production was approximately 36.66 million tons, with consumption at 35.4 million tons, marking year-on-year growth of 12.8% and 8.3% respectively[47].