Ge Long Hui A P P·2025-10-29 05:24Core Viewpoint - China Aluminum achieved a net profit of 10.87 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 20.65% [1] Financial Performance - Q3 net profit reached 3.8 billion yuan, showing a quarter-on-quarter increase of 7.6% and a year-on-year increase of 90.3% [1] - The company's main product output increased year-on-year, contributing to the positive performance [1] Cost and Revenue Analysis - In Q3, operating costs decreased by 860 million yuan, while taxes and additional fees reduced by 280 million yuan [1] - Management and R&D expenses changed by -410 million yuan and +440 million yuan respectively, with financial expenses decreasing by 140 million yuan [1] - Overall cost reduction was supported by a decrease in impairment losses, which fell by 270 million yuan compared to Q2 [1] Industry Position - The company is a leader in the domestic electrolytic aluminum industry, benefiting from significant advantages in integrated supply chain [1] - Continuous operational improvement is noted, maintaining a "buy" rating [1]