TIANSHAN ALUMINUM(SZ:002532)2025-10-28 12:07Group 1: Strategic Development Directions - The company will focus on three core development directions over the next five years: deepening the integration of the industrial chain, promoting green and low-carbon transformation, and optimizing the allocation of strategic mineral resources [2][3]. Group 2: Project Updates - The Indonesian alumina and bauxite project includes two coordinated segments, with a total planned capacity of 1 million tons for the alumina project, divided into two phases. The total investment is approximately 6 billion yuan [4]. - The company has completed the environmental assessment for the Indonesian project and is currently advancing the design of the port terminal [4]. Group 3: Financial Performance and Goals - The company's debt reduction efforts have led to a decrease in the asset-liability ratio from about 53% at the beginning of the year to approximately 48% currently, with a long-term goal of reducing it to below 40% [4]. - Financial expenses are expected to decline further if the asset-liability ratio reaches around 40% [4]. Group 4: Market and Production Insights - The company’s third-quarter revenue decreased sequentially primarily due to a reduction in aluminum ingot sales, attributed to differences in revenue recognition timing rather than a decline in market demand [5]. - The company is progressing well with the 140,000-ton green low-carbon energy efficiency enhancement project, aiming to energize the first batch of electrolytic cells by the end of November and complete all cells by the second quarter of next year [5].