Aluminum Corporation of China Class H ( (ALMMF) ) has realeased its Q3 earnings. Here is a breakdown of the information Aluminum Corporation of China Class H presented to its investors.
Aluminum Corporation of China Limited, commonly known as Chalco, is a leading enterprise in the non-ferrous metals industry, specializing in the production of aluminum and alumina products. It operates primarily in the manufacturing and supply of various aluminum products and is recognized for its extensive operations in China.
In its latest earnings report for the third quarter of 2024, Aluminum Corporation of China Limited announced a robust increase in net profit attributable to shareholders, showing a significant 68.46% rise in the first nine months compared to the same period in the previous year. The company’s revenue for the period was reported at approximately RMB 173.8 billion, although it experienced a decline of 7.76% compared to the previous year.
The key financial highlights of the report include a notable increase in the net profit attributable to shareholders, excluding extraordinary gains and losses, which surged by 76.81%. The company’s basic earnings per share also saw a substantial increase of 69.90%. Despite a slight decrease in revenue, the company managed to maintain a stable cash flow from operating activities, amounting to RMB 23.6 billion, marking a 15.76% increase from the previous year.
Furthermore, the company’s operational performance was bolstered by increased output in refined alumina and primary aluminum, with a 14.84% and 14.00% increase, respectively. The gains were attributed to improved profitability from its primary aluminum and alumina product lines.
Looking forward, Aluminum Corporation of China Limited remains focused on strengthening its market position and operational efficiency. The management is optimistic about sustaining growth in its core segments, driven by strategic initiatives to enhance production capabilities and expand market reach, despite the challenges posed by fluctuating market conditions and global economic uncertainties.
