2 1 Shi Ji Jing Ji Bao Dao·2025-11-06 09:40Core Viewpoint - The recent surge in the stock price of China Aluminum (601600) to a new high of 10.86 yuan, marking a 15-year peak, is part of a broader systemic rise in the aluminum sector, driven by a shift in market sentiment and relative valuation advantages compared to other metals [1][3][15]. Group 1: Market Performance - As of November 6, China Aluminum's stock saw over 2.2 million buy orders, indicating strong market interest [1]. - The aluminum sector index rose by 5.06%, ranking second among various concept sectors [1]. - Other aluminum stocks, such as Minfa Aluminum (002578) and Chang Aluminum (002160), also experienced significant gains, reflecting a collective upward trend in the industry [1]. Group 2: Historical Context - Over the past 15 years, China Aluminum has reached similar stock price levels twice before, in April 2015 and September 2021, during bullish market conditions [4]. - Current stock and aluminum prices are approaching historical highs, supported by positive market sentiment and industry dynamics [4]. Group 3: Financial Performance - China Aluminum's net profit for the first three quarters of this year reached 10.872 billion yuan, a 21% increase year-on-year [7]. - The company's gross profit margin improved to 17.3%, with a notable increase in the third quarter, where the margin rose to 18.4% [9]. - The rise in aluminum prices has significantly contributed to the company's profitability, with LME aluminum prices up 12.28% and domestic futures up 9.44% year-to-date [8]. Group 4: Future Outlook - Analysts predict that China Aluminum's net profit for the full year could exceed 14 billion yuan, potentially surpassing the historical high of 12.4 billion yuan set in 2024 [15]. - The company's earnings per share are expected to exceed 0.8 yuan, setting a new record since its listing in 2007 [15]. - The aluminum sector is experiencing a "high-low switch," with aluminum stocks gaining traction as other sectors face declines [23].