Financial Performance - The company's operating revenue for the first half of 2022 was ¥24,785,706,324.86, representing a 13.11% increase compared to ¥21,912,137,372.88 in the same period last year[16]. - The net profit attributable to shareholders was ¥2,665,123,301.00, a 32.43% increase from ¥2,012,515,518.80 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥2,647,310,307.34, up 32.25% from ¥2,001,702,675.74 in the same period last year[16]. - Basic earnings per share increased by 20.31% to ¥0.77, compared to ¥0.64 in the same period last year[16]. - The operating profit reached approximately ¥3.70 billion, reflecting a 32.92% increase from ¥2.78 billion, driven by higher aluminum prices and cost reduction initiatives[56]. - The total comprehensive income for the first half of 2022 was CNY 3.14 billion, compared to CNY 2.44 billion in the same period of 2021[182]. - The company reported a net profit attributable to shareholders of CNY 775.16 million, down from CNY 968.93 million in the previous year[173]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 23.94% to ¥3,150,550,300.33, down from ¥4,142,284,018.80 in the previous year[16]. - The company's cash and cash equivalents increased to CNY 1,856,527,046.50 from CNY 1,622,638,217.34, reflecting a rise of about 14.4%[163]. - The total cash and cash equivalents at the end of the period amounted to ¥1,634,222,630.33, up from ¥465,859,112.73 at the end of the first half of 2021, showing a strong liquidity position[191]. - The cash inflow from operating activities was CNY 22.52 billion, compared to CNY 16.39 billion in the first half of 2021, representing a growth of 37.38%[185]. Assets and Liabilities - Total assets at the end of the reporting period were ¥38,414,966,593.25, a 1.48% increase from ¥37,853,401,384.04 at the end of the previous year[16]. - Total liabilities decreased to CNY 14,715,786,471.81 from CNY 16,926,783,084.85, a reduction of about 13.0%[168]. - The company's total equity at the end of the first half of 2022 was ¥20,926,618,299.19, an increase from the previous year, indicating a strengthening of the company's financial position[193]. Production and Capacity - The company has established an integrated green aluminum production capacity of 1.4 million tons of alumina, 3.05 million tons of green aluminum, 800,000 tons of anode carbon, 1.417 million tons of aluminum alloy, 135,000 tons of aluminum plate, and 71,000 tons of aluminum foil annually[30]. - The company's aluminum production capacity utilization rate reached over 96% by the end of June 2022, with production figures of 701,000 tons of alumina, 408,200 tons of carbon products, and 1,283,100 tons of primary aluminum[37]. - The company has successfully launched key projects, including the second phase of the Yunnan Aluminum Haixin hydropower aluminum project, contributing to a steady increase in green aluminum production capacity[38]. Research and Development - Research and development investment surged by 88.52% to approximately ¥43.19 million, highlighting the company's commitment to innovation[53]. - The company received 51 authorized patents during the reporting period, including 6 invention patents, enhancing its technological innovation capabilities[47]. - The company has established a "5G + Smart Aluminum" innovation center and is conducting research on active defense systems in the electrolytic aluminum industry[38]. Environmental Initiatives - The company is recognized as a national environmentally friendly enterprise and a pioneer in green factory initiatives within the non-ferrous metals industry[33]. - The company is committed to environmental protection and is actively working on initiatives to reduce emissions and promote sustainable practices[94]. - The company generated a total of 21.81 million kilowatt-hours of electricity from distributed photovoltaic projects in the first half of 2022[114]. Market Strategy and Expansion - The company is committed to expanding its market presence and enhancing its competitive edge through innovation and resource integration[30]. - The company is positioned to leverage its geographical advantages to expand into the South Asian and Southeast Asian markets, supported by infrastructure developments like the China-Laos Railway[51]. - The company aims for a 100% production and sales rate in the second half of 2022, focusing on market expansion in regions such as Sichuan-Chongqing and South China[41]. Risks and Challenges - The company faces risks related to product price fluctuations, which could adversely affect profitability if market prices decline significantly[91]. - The company is also exposed to risks from the supply and price volatility of raw materials, which could impact operational performance if not managed effectively[92]. - Electricity cost adjustments and power restrictions pose risks to production, with the company implementing strategies to mitigate these risks[93]. Shareholder and Governance - The company did not distribute cash dividends or issue bonus shares for the first half of 2022[100]. - There were changes in the board of directors, with three new directors elected in early 2022[100]. - The company has not engaged in any asset or equity acquisitions or sales during the reporting period[128].

Financial Performance - The operating revenue for the first quarter was CNY 10,897,338,941.54, representing a 7.78% increase compared to CNY 10,110,390,338.62 in the same period last year[4]. - The net profit attributable to shareholders was CNY 1,124,308,623.83, a significant increase of 64.86% from CNY 681,972,175.16 year-on-year[4]. - The total profit for the period was CNY 1,622,531,357.53, a 72.35% increase from CNY 941,432,445.17 in the same period last year[9]. - Net profit for the current period was ¥1,377,841,771.26, a significant increase of 66.67% from ¥826,574,716.39 in the previous period[19]. - Earnings per share (EPS) for the current period was ¥0.32, compared to ¥0.22 in the previous period, marking a 45.45% increase[21]. - The total comprehensive income for the current period was ¥1,377,151,152.03, compared to ¥826,598,547.59 in the previous period, marking a growth of 66.54%[21]. Cash Flow - The net cash flow from operating activities reached CNY 1,650,792,352.43, up 13.48% from CNY 1,454,741,842.89 in the previous year[4]. - Cash inflow from operating activities totaled ¥8,935,525,699.32, up from ¥7,543,740,419.12, indicating a growth of 18.43%[22]. - The net cash flow from operating activities for Q1 2022 was approximately CNY 1.65 billion, an increase from CNY 1.45 billion in Q1 2021, representing a growth of about 13.4%[23]. - The total cash outflow from operating activities amounted to CNY 7.28 billion, compared to CNY 6.09 billion in the same period last year, indicating an increase of approximately 19.6%[23]. - The company reported a net increase in cash and cash equivalents of CNY 1.24 billion for Q1 2022, contrasting with a net decrease of CNY 118.49 million in Q1 2021[23]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 39,878,585,373.06, reflecting a 5.40% increase from CNY 37,837,121,415.33 at the end of the previous year[4]. - The total assets of Yunnan Aluminum Co., Ltd. reached RMB 39.88 billion at the end of the first quarter, an increase from RMB 37.84 billion at the beginning of the year, reflecting a growth of approximately 5.5%[14]. - The total liabilities of the company amounted to RMB 10.86 billion, up from RMB 9.84 billion, indicating an increase of about 10.4%[16]. - The company's total liabilities increased to ¥17,573,282,966.61 from ¥16,926,783,084.85, representing a rise of 3.84%[17]. Equity and Investments - The total equity attributable to shareholders increased to CNY 19,331,367,532.08, a 6.27% rise from CNY 18,191,320,779.96 at the end of the previous year[4]. - Total equity attributable to shareholders reached ¥19,331,367,532.08, an increase from ¥18,191,320,779.96, reflecting a growth of 6.29%[17]. - The long-term equity investments increased slightly to RMB 414.48 million from RMB 406.63 million, showing a growth of about 1.4%[14]. Operational Metrics - The company reported a significant increase in accounts receivable, which rose by 1016.33% to CNY 387,282,163.24, attributed to increased sales volume compared to Q4 2021[7]. - The company reported a significant increase in accounts receivable, which rose to RMB 387.28 million from RMB 34.69 million, a growth of over 1000%[14]. - Inventory levels rose to RMB 4.05 billion, compared to RMB 3.04 billion at the start of the year, marking an increase of around 33%[14]. - Accounts payable increased to RMB 5.49 billion from RMB 5.04 billion, reflecting a rise of approximately 9%[16]. Expenses - The company's financial expenses decreased by 44.20% to CNY 83,975,788.38, due to reduced interest-bearing liabilities and lower interest rates[9]. - Total operating costs amounted to ¥9,295,432,422.55, up from ¥9,066,088,765.86, reflecting a rise of 2.53%[18]. - Research and development expenses rose to ¥19,989,757.97, compared to ¥11,395,134.64 in the previous period, indicating a growth of 75.56%[19]. - Tax payments increased significantly to CNY 462.08 million from CNY 271.46 million, representing a rise of approximately 70.3%[23]. Accounting Adjustments - The company adjusted its accounting policies, resulting in a reclassification of transportation costs from sales expenses to operating costs, impacting the previous year's financial statements by CNY 174.43 million[27].

Financial Performance - The company's operating revenue for 2021 was ¥41,668,819,175.25, representing a 40.90% increase compared to ¥29,573,100,815.61 in 2020[13]. - The net profit attributable to shareholders for 2021 was ¥3,319,026,414.54, a significant increase of 267.74% from ¥902,555,209.17 in 2020[13]. - The net profit after deducting non-recurring gains and losses was ¥3,311,596,129.99, up 329.63% from ¥770,807,759.16 in 2020[13]. - The net cash flow from operating activities reached ¥6,961,627,863.64, a 39.77% increase from ¥4,980,888,756.78 in 2020[13]. - The basic earnings per share for 2021 was ¥1.06, compared to ¥0.29 in 2020, marking a 265.52% increase[13]. - The total assets at the end of 2021 were ¥37,837,121,415.33, a decrease of 7.76% from ¥41,018,597,713.34 at the end of 2020[14]. - The net assets attributable to shareholders increased by 54.09% to ¥18,191,320,779.96 from ¥11,805,692,887.88 in 2020[14]. - The company reported a weighted average return on equity of 24.56% for 2021, up from 7.94% in 2020[13]. - The company achieved a net profit margin of 8% for the fiscal year 2021, an increase from 6% in the previous year[119]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of 1.13 RMB per 10 shares to all shareholders, based on a total of 3,467,957,405 shares[2]. - The company implemented a cash dividend policy, distributing a total of 391,879,186.77 yuan, which accounted for 100% of the total profit distribution[154]. Environmental Commitment - The company emphasizes its commitment to environmental sustainability, branding itself as a "National Environmentally Friendly Enterprise" and promoting "Green Aluminium" initiatives[2]. - The company is committed to promoting its "Green Aluminum" brand and establishing a domestic pricing mechanism for green aluminum products[93]. - The company’s green electricity usage reached about 85% of its total electricity consumption in 2021, significantly reducing carbon emissions compared to coal-powered aluminum[30]. - The company is investing in sustainable practices, aiming for a 30% reduction in carbon emissions by 2025[121]. - The company achieved a 100% compliance rate for industrial waste gas and noise emissions, with all pollution control facilities operating simultaneously at 100%[163]. - The company completed several environmental protection projects, including a 7,000-ton carbon residue resource utilization project and an aluminum electrolysis semi-dry desulfurization project[164]. Production and Capacity - The company has established an electrolytic aluminum production capacity of 3.05 million tons, making it the largest green low-carbon aluminum supplier in China[21]. - The company has achieved an annual production scale of 1.4 million tons of alumina, 3.05 million tons of green aluminum, 800,000 tons of anode carbon, 140,000 tons of aluminum alloy, 135,000 tons of aluminum plate and strip, and 36,000 tons of aluminum foil[26]. - The production of alumina was 1.367 million tons, an increase of 5.96% year-on-year, while the production of carbon products was 781,700 tons, up 10.86% year-on-year[40]. - The production of primary aluminum was 2.3002 million tons, a decrease of 4.41% year-on-year due to power restrictions[40]. - The company reported a capacity utilization rate of nearly 81% for its 500,000-ton hydropower aluminum project as of November 2021[200]. Research and Development - The company applied for a total of 86 patents in 2021, including 18 invention patents and 68 utility model patents[33]. - R&D investment increased by 26.52% to ¥1,491,850,529.57 in 2021, accounting for 3.58% of operating revenue, down from 3.99% in 2020[61]. - The company is investing 500 million CNY in R&D for new technologies in the upcoming year[119]. - Research and development expenditures have increased by 25% to support innovation initiatives[121]. Market Expansion and Strategy - The company is positioned to leverage its unique geographical advantages to expand into the South Asian and Southeast Asian markets[34]. - The company aims to enhance cost competitiveness through comprehensive benchmarking and reducing various costs[92]. - The company is actively planning market expansion and new product development strategies[113]. - The company is focused on developing green core technologies and promoting a circular economy within its operations[87]. - The company has established long-term partnerships with numerous high-quality clients, enhancing its competitive advantage in the market[86]. Governance and Management - The company maintains a robust governance structure, ensuring independence from its controlling shareholder in business, personnel, and financial aspects[106]. - The company has a management system that includes a shareholders' meeting, board of directors, and supervisory board, ensuring independent operations[110]. - The company has a structured approach to determining the remuneration of its management team based on performance metrics[131]. - The company has not reported any penalties from regulatory authorities for its directors and supervisors in the last three years[130]. Financial Management and Compliance - The company has engaged PwC Zhongtian as its accounting firm for the reporting period, ensuring compliance and oversight[11]. - The company has a commitment from China Aluminum Group to avoid competition with Yunnan Aluminum, with plans to integrate operations by 2019[112]. - The company has confirmed the execution of daily related transactions for the year 2021[181]. - The company has not faced any penalties or rectification issues during the reporting period[180]. Risks and Challenges - The management discussion highlights potential risks and countermeasures that the company may face in the future, as detailed in section eleven of the report[2]. - The ongoing global COVID-19 pandemic poses risks to the company's operations, and the company is enhancing communication with customers and suppliers to mitigate these impacts[100]. - The company is actively managing risks related to the supply and price fluctuations of raw materials, including alumina and petroleum coke, by expanding procurement channels and implementing strict inventory management[96]. Community Engagement and Social Responsibility - The company registered over 6,000 volunteers, contributing more than 100,000 hours of service in 2021[169]. - The company is committed to supporting rural revitalization and poverty alleviation, with plans to enhance local economic development through eco-agriculture and technology[170]. - The company purchased 14,800 kg of agricultural products from local villages, amounting to CNY 140,000, to support local farmers[170].

Financial Performance - The company's operating revenue for Q3 2021 was ¥10,292,531,208.15, representing a year-on-year increase of 31.53%[4] - The net profit attributable to shareholders for the same period was ¥1,233,324,465.79, a significant increase of 277.14% compared to the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses reached ¥1,226,360,192.18, up 280.71% year-on-year[4] - The basic earnings per share for Q3 2021 was ¥0.39, reflecting a 290.00% increase compared to the same period last year[4] - Operating revenue increased by 61.47% to CNY 32.12 billion, driven by higher aluminum sales volume and price increases[13] - Net profit surged by 389.32% to CNY 3.94 billion, attributed to increased aluminum sales and effective cost reduction strategies[13] - The company reported a significant increase in undistributed profits, up 1082.62% to CNY 3.53 billion, due to improved profitability[13] - The company reported a total profit of CNY 4,509,886,617.52, significantly higher than CNY 913,890,346.85 in the previous year, representing an increase of approximately 393.5%[30] - Earnings per share (EPS) for the period was CNY 1.03, compared to CNY 0.18 in the same period last year, showing a substantial increase[30] - The company recorded a net profit margin of approximately 12.5% for the current period, compared to 4.3% in the previous period[30] Assets and Liabilities - The total assets at the end of the reporting period were ¥38,975,331,243.48, showing a decrease of 4.98% from the end of the previous year[4] - Total assets amounted to CNY 38,975,331,243.48, a decrease from CNY 41,018,597,713.34 in the previous period[26] - Current assets totaled RMB 5,615,076,836.35, down from RMB 6,051,377,930.65, indicating a decrease of about 7.20% year-over-year[20] - Total liabilities were reported at RMB 21,163,258,780.70, down from RMB 27,259,900,416.66, reflecting a decrease of approximately 22.5%[24] - The total amount of short-term loans was CNY 5,632,438,846.00, highlighting the company's reliance on short-term financing[41] - The company's total equity attributable to shareholders reached CNY 15,111,095,090.82, up from CNY 11,805,692,887.88, reflecting an increase of approximately 27.5%[26] - The company's equity totaled CNY 13,758,697,296.68, with total equity attributable to shareholders amounting to CNY 11,805,692,887.88[41] Cash Flow - The cash flow from operating activities for the year-to-date was ¥5,334,683,561.52, an increase of 38.16% year-on-year[4] - Cash flow from operating activities improved by 38.16% to CNY 5.33 billion, supported by timely collection of receivables[14] - The net cash flow from operating activities for Q3 2021 was CNY 5,334,683,561.52, an increase of 38.1% compared to CNY 3,861,156,422.23 in Q3 2020[32] - Total cash inflow from operating activities reached CNY 24,890,518,023.68, up from CNY 19,139,366,273.47, reflecting a growth of 30.5% year-over-year[32] - The company’s total cash inflow from operating activities increased by CNY 5,751,151,750.21, reflecting strong operational performance[32] Shareholder Information - The number of ordinary shareholders reached 122,973, indicating a broadening shareholder base[15] - The major shareholder, Yunnan Metallurgical Group Co., Ltd., holds 35.48% of the shares, maintaining significant control over the company[15] Research and Development - Research and development expenses rose by 142.02% to CNY 41.89 million, reflecting increased investment in innovation[13] - The company is focusing on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[24] - The company’s research and development expenses were CNY 41,894,818.06, up from CNY 17,310,518.94 in the previous period, reflecting a commitment to innovation[27] Borrowings and Financial Expenses - Short-term borrowings decreased by 33.77% to ¥3,730,148,108.81 as a result of repaying maturing loans[8] - The company’s financial expenses decreased by 20.39% to CNY 430.61 million, due to lower borrowing costs[13] - Cash outflow for debt repayment was CNY 7,507,511,611.40, down from CNY 13,243,914,039.53 in the previous year, showing a reduction of 43.5%[35]

Financial Performance - The company's operating revenue for the first half of 2021 reached ¥21,829,857,449.78, representing an increase of 80.89% compared to ¥12,068,249,684.61 in the same period last year[16]. - Net profit attributable to shareholders of the listed company was ¥1,998,481,094.53, a significant increase of 721.48% from ¥243,279,561.03 in the previous year[16]. - The net profit after deducting non-recurring gains and losses was ¥1,987,668,251.47, up 1753.02% from ¥107,266,285.29 in the same period last year[16]. - The net cash flow from operating activities was ¥4,142,284,018.80, an increase of 92.97% compared to ¥2,146,642,573.30 in the previous year[16]. - Basic earnings per share were ¥0.64, reflecting a 700.00% increase from ¥0.08 in the same period last year[16]. - Operating profit surged to CNY 2.764 billion, up 574.98% from CNY 409 million in the same period last year[56]. - The company reported a total comprehensive income of CNY 2.43 billion for the first half of 2021, compared to CNY 313.61 million in the same period of 2020[180]. Assets and Liabilities - Total assets at the end of the reporting period were ¥40,302,790,793.17, a decrease of 1.75% from ¥41,018,597,713.34 at the end of the previous year[16]. - The total assets of the company at the end of the first half of 2021 amounted to 41.5 billion yuan, with a debt-to-asset ratio of 70%[31]. - Total liabilities decreased from CNY 27,259,900,416.66 to CNY 24,060,742,341.69, a decline of approximately 11.67%[167]. - Owner's equity increased from CNY 13,758,697,296.68 to CNY 16,242,048,451.48, an increase of about 18.06%[167]. Environmental Commitment - The company emphasizes its commitment to environmental sustainability, branding itself as a "green aluminum" producer[3]. - The company is focusing on expanding its green aluminum production in response to national carbon neutrality goals, enhancing its market competitiveness[28]. - The company is committed to green low-carbon production, achieving a carbon emission level that is only 20% of that of coal-powered aluminum production[41]. - The company has implemented measures to ensure compliance with environmental discharge standards, with no instances of exceeding limits reported[88]. - The company has maintained stable emissions within regulatory limits, with a 100% safe disposal rate for solid and hazardous waste[91]. Research and Development - Research and development investment surged by 163.66% to ¥22.91 million, up from ¥8.69 million, reflecting increased spending on innovation[51]. - The company has 36 ongoing technology projects and has applied for 36 patents, with 30 patents granted, including 9 invention patents[47]. - The company has developed new products such as ultra-thin aluminum foil and aluminum alloys for automotive applications, contributing to improved profitability[28]. Market and Industry Trends - The aluminum industry is experiencing a recovery, with demand from traditional sectors like real estate and automotive steadily increasing[29]. - The company is leveraging its position in the RCEP region, which covers 29.7% of the global population and 28.9% of GDP, to expand into South and Southeast Asian markets[49]. - The company is actively developing a "green aluminum integration" strategy to capitalize on its unique geographical advantages and expand its market presence[49]. Shareholder and Governance - The company held two shareholder meetings during the reporting period, with investor participation rates of 57.84% and 56.94% respectively[81]. - The company elected new board members and retained key executives during the first temporary shareholder meeting of 2021[82]. - The company reported no cash dividends, stock bonuses, or capital reserve transfers to increase share capital for the first half of 2021[84]. Community Engagement and Support - The company has committed to supporting local economic development and poverty alleviation through industrial project construction[97]. - The company has directly and indirectly increased local employment and income through green aluminum industry projects in Zhaotong, Heqing, and Wenshan, effectively consolidating poverty alleviation results[98]. - The company has sponsored over 30,000 yuan for educational support activities, benefiting local students[99]. Risk Management - The company faces product price fluctuation risks due to the volatility of aluminum ingot and processed product prices, which are influenced by macroeconomic cycles and supply-demand relationships[75]. - The company is implementing strict inventory management and effective risk response measures to minimize price drop losses, particularly for processed products[75]. - The company is exposed to electricity price adjustment and power restriction risks, which significantly affect production costs[77]. Financial Management - The company is actively pursuing a non-public stock issuance project of 3 billion yuan, which has passed the initial review by the China Securities Regulatory Commission[36]. - The company has signed a financial service agreement with Chinalco Finance to enhance financial management and reduce financing costs[118]. - The company reported a total of 1,603,545.17 million RMB in daily related party transactions for the first half of 2021[106].

Financial Performance - The company's revenue for Q1 2021 was ¥10,110,390,338.62, representing a 68.69% increase compared to ¥5,993,399,097.20 in the same period last year[6] - Net profit attributable to shareholders for Q1 2021 reached ¥681,972,175.16, a significant increase of 276.86% from ¥180,961,088.63 in the previous year[6] - The net profit after deducting non-recurring gains and losses was ¥674,491,255.90, up 476.66% from ¥116,965,399.76 year-on-year[6] - The net cash flow from operating activities was ¥1,454,741,842.89, marking a 280.20% increase from ¥382,623,179.81 in the same period last year[6] - Basic earnings per share for Q1 2021 were ¥0.22, a 266.67% increase compared to ¥0.06 in the previous year[6] - The total profit for the current period was ¥941,432,445.17, a significant increase of 250.84% from ¥268,333,615.69 in the previous year, driven by higher sales volume and prices of aluminum products[19] - Total operating revenue for Q1 2021 reached ¥10,110,390,338.62, a significant increase of 68.8% compared to ¥5,993,399,097.20 in the same period last year[57] - Total operating costs for Q1 2021 were ¥9,066,088,765.86, up 57.5% from ¥5,770,991,974.14 in Q1 2020[57] Assets and Liabilities - The total assets at the end of the reporting period were ¥41,279,416,482.60, a slight increase of 0.64% from ¥41,018,597,713.34 at the end of the previous year[6] - The company's total assets as of March 31, 2021, amounted to ¥23,916,860,570.40, compared to ¥23,650,196,853.23 at the end of 2020[50] - The total liabilities of the company as of March 31, 2021, were CNY 26,665,179,139.29, down from CNY 27,259,900,416.66 at the end of 2020, reflecting a decrease of about 2.2%[43] - The company's long-term borrowings increased to CNY 10,084,761,896.00 from CNY 9,357,661,896.00, an increase of approximately 7.8%[43] - Total liabilities reached CNY 11,982,496,012.60, a decrease from CNY 11,987,728,831.08[99] Shareholder Information - The top shareholder, Yunnan Metallurgical Group Co., Ltd., holds 35.48% of the shares, with a total of 1,109,818,170 shares[12] - The company did not engage in any repurchase transactions among the top 10 shareholders during the reporting period[14] Cash Flow - The company's cash flow from operating activities increased by 280.20% to ¥1,454,741,842.89, up from ¥382,623,179.81 in the same period last year, attributed to increased sales volume and prices of aluminum products[19] - Cash flow from operating activities was CNY 7.44 billion, up from CNY 5.10 billion year-on-year, representing a growth of 46%[69] - The net cash flow from financing activities was negative at CNY -1,247,132,342.30, compared to CNY -709,400,069.85 in the prior year, indicating increased cash outflows[76] Research and Development - The company reported R&D expenses of ¥11,395,134.64, significantly higher than ¥2,183,808.02 in the previous year[57] - Research and development expenses increased significantly to CNY 1.62 million from CNY 0.33 million, indicating a focus on innovation and product development[64] Projects and Initiatives - The company has completed the first phase of the water and electricity aluminum project in Ludian, which has reached production capacity[28] - The company is making orderly progress on the comprehensive utilization project of low-grade bauxite in Wenshan[28] - The company is actively progressing with its non-public stock issuance, which has been approved by the shareholders and is currently under review by the China Securities Regulatory Commission[23] Compliance and Standards - The company adopted the new leasing standard effective January 1, 2021, impacting both assets and liabilities[90] - The report includes a retrospective adjustment for the new leasing standards starting in 2021[102] - The company emphasizes its commitment to green aluminum production[102] - The company is recognized as a national environmentally friendly enterprise[102]

Financial Performance - The company's operating revenue for 2020 was CNY 29,573,100,815.61, representing a 21.78% increase compared to CNY 24,283,623,386.87 in 2019[19]. - The net profit attributable to shareholders for 2020 was CNY 902,555,209.17, an increase of 82.25% from CNY 495,225,700.67 in 2019[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 770,807,759.16, up 128.31% from CNY 337,616,941.37 in 2019[19]. - The net cash flow from operating activities for 2020 was CNY 4,980,888,756.78, a 35.21% increase from CNY 3,683,920,646.97 in 2019[19]. - The basic earnings per share for 2020 was CNY 0.29, reflecting a 52.63% increase from CNY 0.19 in 2019[19]. - Diluted earnings per share increased by 52.63% to CNY 0.29 from CNY 0.19 in the previous year[21]. - The weighted average return on equity rose to 7.94%, up from 5.81% in 2019, reflecting a 2.13% increase[21]. - Total assets at the end of 2020 reached CNY 41.02 billion, a 3.64% increase from CNY 39.58 billion at the end of 2019[21]. - Net assets attributable to shareholders increased by 8.11% to CNY 11.81 billion from CNY 10.92 billion in 2019[21]. - Quarterly revenue for Q4 2020 was CNY 9.68 billion, marking a significant increase from CNY 5.99 billion in Q1 2020[24]. - Net profit attributable to shareholders in Q4 2020 was CNY 332.26 million, compared to CNY 180.96 million in Q1 2020[24]. - The company reported a total of CNY 131.75 million in non-recurring gains for 2020, down from CNY 157.61 million in 2019[28]. Strategic Initiatives - The company is focusing on green low-carbon development and expanding its green aluminum industry scale, leveraging Yunnan's clean energy advantages[36]. - New products developed include ultra-thin aluminum foil and high-end aluminum alloys, contributing to improved profitability[36]. - The company aims to enhance its market competitiveness by upgrading to mid-to-high-end products and optimizing its product structure[36]. - The company is strategically positioned to expand into the South Asian and Southeast Asian markets, leveraging its location in Yunnan Province[54]. - The company aims to establish a green and low-carbon integrated industrial development model for hydropower aluminum, enhancing its market competitiveness and aligning with environmental trends[135]. - The company aims to be a leader in high-quality development in the aluminum industry, focusing on green low-carbon development and expanding aluminum applications[136]. - In 2021, the company targets an alumina production of approximately 1.4 million tons, electrolytic aluminum production of about 2.87 million tons, and revenue growth compared to 2020[137]. Investment and Financing - The company plans to raise CNY 3 billion through a private placement of shares, with the application already submitted to the regulatory authority[59]. - The company’s R&D investment amounted to 1,179,158,921.09 CNY, representing 3.99% of operating revenue, a slight decrease from the previous year[83]. - The company has made a significant equity investment of ¥167,960,000.00 in Yunnan Suotong Yun Aluminum Carbon Materials Co., holding a 35% stake[98]. - The company invested ¥538,654,900.00 in acquiring 13.5 million tons of electrolytic aluminum capacity indicators from Shandong Huayu Alloy Materials Co., with total actual investment matching the reported amount[99]. - The company plans to issue up to 938,461,966 shares to no more than 35 specific investors, with Chalco participating in the subscription for an amount between RMB 200 million and RMB 320 million[182]. - The company has engaged PwC Zhongtian as its accounting firm for the reporting period[17]. - The company has appointed CITIC Securities as its new sponsor for the 2020 non-public offering of shares[18]. Risk Management - The company has outlined potential risks and countermeasures in its future development outlook section[4]. - The company faces risks from product price fluctuations, with strict inventory management and risk response measures in place to mitigate potential losses[145]. - The company is exposed to raw material price volatility risks, with strategies to broaden procurement channels and monitor market conditions to manage costs[146]. - The company is addressing electricity price adjustment risks by engaging in market-based electricity trading and leveraging supportive policies for hydropower aluminum integration[147]. - The company has established a risk management system to control market, liquidity, credit, operational, and legal risks associated with its derivative investments[105]. Corporate Governance - The company plans not to distribute cash dividends or issue bonus shares for the year[4]. - The company’s profit distribution policy remains unchanged, ensuring the protection of minority shareholders' rights[154]. - The company’s cash dividend policy is compliant with its articles of association and shareholder resolutions[155]. - The company’s independent directors have fulfilled their responsibilities regarding profit distribution proposals[155]. - The company has not disclosed any significant undisclosed information during investor communications[151]. - The company has maintained a transparent and compliant process for any adjustments to its cash dividend policy[155]. Social Responsibility - The company actively engages in poverty alleviation initiatives in line with national strategies, focusing on industrial development to promote targeted poverty alleviation[196]. - The primary goal includes implementing integrated hydropower and aluminum projects in Yunnan's deeply impoverished areas to drive industrial-led poverty alleviation[199]. - The company enhances self-development capabilities in impoverished regions through major projects like the Zhaotong and Dali hydropower-aluminum projects[200]. - The company emphasizes education support, training, and employment assistance as part of its targeted poverty alleviation strategy[200]. Operational Efficiency - The company optimized its procurement channels, achieving cost reductions in raw materials and logistics[59]. - The total operating cost for aluminum products in 2020 was 25,377,000,000.00 CNY, with raw materials accounting for 55.82% of this cost, a decrease of 3.56% from the previous year[69]. - The company implemented 36 technology projects during the reporting period, with 13 projects successfully completed, focusing on energy conservation and environmental protection[81]. - The company completed the reclamation of 1,496 acres of mining land and cultivated 110,000 seedlings as part of its ecological restoration efforts[44]. Market Position - The company has achieved a carbon emission level of only 20% compared to coal-powered aluminum production, positioning itself as a leader in green aluminum production[44]. - The company has established long-term cooperative relationships with numerous high-quality domestic and international clients, leveraging its green and low-carbon energy advantages[135]. - The global aluminum production and demand have been steadily increasing, with aluminum becoming the second-largest metal material after steel, indicating a positive market outlook[135].

Financial Performance - Net profit attributable to shareholders increased by 148.76% to CNY 327,016,751.89 for the reporting period[5] - Operating revenue for the period reached CNY 7,825,020,564.74, reflecting a growth of 10.30% year-on-year[5] - The net profit after deducting non-recurring gains and losses surged by 252.02% to CNY 322,125,702.77[5] - Basic earnings per share doubled to CNY 0.10, representing a 100.00% increase[5] - The weighted average return on net assets was 2.88%, an increase of 1.33% compared to the previous year[5] - The company reported a net profit increase, leading to a 94.41% improvement in undistributed profits, which reached -33,742,680.33 CNY[28] - The company reported a net loss of ¥33,742,680.33 for the period, improving from a loss of ¥604,038,993.25 in the previous year[53] - The net profit for the third quarter reached CNY 452,046,361.11, compared to CNY 144,682,851.50 in the previous year, representing a year-over-year increase of 212.06%[63] - The profit attributable to the parent company was CNY 327,016,751.89, up from CNY 131,458,941.93, marking a growth of 148.57%[63] - The company reported a net profit for the third quarter of 2020 of CNY 805,700,002.49, a significant increase from CNY 325,841,245.83 in the same period last year, representing a growth of approximately 147.5%[70] Revenue and Costs - Operating revenue increased by 10.89% to 19,893,270,249.35 CNY, driven by higher aluminum product sales[28] - Operating costs rose by 6.85% to 16,946,366,741.01 CNY, also attributed to increased aluminum product sales[28] - The total operating revenue for the third quarter was CNY 7,825,020,564.74, an increase of 10.3% compared to CNY 7,094,000,557.07 in the same period last year[60] - Total operating costs amounted to CNY 7,198,454,096.74, up from CNY 6,977,698,976.25, reflecting a year-over-year increase of 3.2%[60] - The total operating costs for the third quarter were CNY 10,096,669,020.79, an increase from CNY 8,867,871,194.39, resulting in a cost increase of 13.87%[65] Cash Flow - The company reported a net cash flow from operating activities of CNY 3,861,156,422.23, up by 50.73% year-on-year[5] - The net cash flow from operating activities for the current period is CNY 3,861,156,422.23, an increase of 50.9% compared to CNY 2,561,663,861.73 in the previous period[81] - Cash inflow from operating activities totaled CNY 19,139,366,273.47, up from CNY 16,080,083,150.43, reflecting a growth of 12.8%[78] - Cash outflow from operating activities increased to CNY 15,278,209,851.24 from CNY 13,518,419,288.70, representing a rise of 13.0%[81] - The company reported a net cash flow from investing activities of CNY -3,302,933,612.28, worsening from CNY -1,618,036,122.90 in the previous period[81] - Cash inflow from financing activities was CNY 12,871,040,000.00, compared to CNY 9,916,161,970.39, marking a growth of 29.5%[81] Assets and Liabilities - Total assets increased by 6.33% to CNY 42,084,128,983.48 compared to the end of the previous year[5] - The company's cash and cash equivalents decreased by 127.70% to -2,197,807,501.50 CNY, primarily due to payments for green aluminum project construction and repayment of due borrowings[28] - Total current assets decreased to ¥7,511,032,262.05 from ¥9,067,446,886.23, representing a decline of approximately 17.2% year-over-year[47] - The company's total liabilities were CNY 13,420,639,493.49, slightly up from CNY 13,192,180,887.37, indicating a year-over-year increase of 1.7%[58] - Long-term borrowings increased significantly to ¥7,953,970,903.00 from ¥4,701,180,000.00, representing a rise of approximately 69.5%[51] Shareholder Information - The top shareholder, Yunnan Metallurgical Group Co., Ltd., holds 35.48% of the shares, totaling 1,109,818,170 shares[11] - There were no repurchase transactions conducted by the top ten shareholders during the reporting period[22] Research and Development - Research and development expenses rose to CNY 8,621,810.42, compared to CNY 1,175,128.00 in the previous year, marking a significant increase of 632.5%[60] - Research and development expenses increased to CNY 17,310,518.94 from CNY 5,148,592.11, marking a rise of about 236% year-over-year[70] Financial Management - The company has not engaged in any entrusted financial management during the reporting period[42] - There are no violations of external guarantees during the reporting period[43] - The company has not reported any non-operating fund occupation by controlling shareholders or related parties during the reporting period[43] Investment Activities - The company raised a total of CNY 2,137,607,811.90 through a private placement of 521,367,759 shares at CNY 4.10 per share, with a net amount of CNY 2,105,925,675.12 after deducting related expenses[38] - The total investment amount for the fundraising projects is CNY 167,019.35 million, with the first phase of the earthquake recovery project completed and achieving production standards[41]