Aluminum Corporation of China Limited Class H (HK:2600)
:2600
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Aluminum of China
(2600)
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Rating:61Neutral
Price Target:
HK$12.00
▲(1.35% Upside)
Action:ReiteratedDate:03/31/26
The score is supported primarily by improving financial performance (profit recovery, stronger margins, and strong free cash flow) and a reasonable valuation with a solid dividend yield. These positives are tempered by weak technical momentum (price below key moving averages and negative MACD), which reduces the overall rating.
Positive Factors
Strong cash generation
Consistent, sizable operating cash flow and robust free cash flow provide durable internal funding for capex, dividends and debt reduction. Over a multi-month horizon this strengthens financial flexibility and reduces refinancing risk amid cyclical markets.
Negative Factors
Volatile revenue and recent decline
Revenue volatility and a recent top-line fall imply demand or pricing cyclicality, making earnings and cash flow less predictable. This complicates capital allocation and can limit the durability of margin improvements if volumes or prices weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Consistent, sizable operating cash flow and robust free cash flow provide durable internal funding for capex, dividends and debt reduction. Over a multi-month horizon this strengthens financial flexibility and reduces refinancing risk amid cyclical markets.
Read all positive factors
Aluminum of China (2600) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$215.07B
Dividend Yield3.32%
Average Volume (3M)56.02M
Price to Earnings (P/E)8.5
Beta (1Y)1.19
Revenue Growth20.06%
EPS Growth20.03%
CountryHK
Employees63,133
SectorBasic Materials
Sector Strength58
IndustryAluminum
Share Statistics
EPS (TTM)0.12
Shares Outstanding3,943,966,000
10 Day Avg. Volume58,058,802
30 Day Avg. Volume56,022,630
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)2.49
Price to Sales (P/S)0.80
P/FCF Ratio9.46
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$14.11Price Target Upside19.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.21
Revenue Forecast (FY)HK$254.20B
Aluminum of China Business Overview & Revenue Model
Company Description
Aluminum Corporation of China Limited, together with its subsidiaries, manufactures and sells alumina, primary aluminum, aluminum alloys, and carbon products in the People's Republic of China and internationally. The company operates through five ...
How the Company Makes Money
Chalco makes money primarily by selling products across the aluminum value chain. Its major revenue streams typically include: (1) alumina sales—revenue from refining bauxite into metallurgical-grade alumina and selling alumina to internal smelter...
Aluminum of China Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
58
Neutral
Cash Flow
72
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 234.88B | 237.07B | 225.07B | 290.99B | 298.89B |
| Gross Profit | 39.96B | 37.34B | 28.81B | 32.33B | 36.10B |
| EBITDA | 39.31B | 34.64B | 28.53B | 24.66B | 24.91B |
| Net Income | 12.35B | 12.40B | 6.72B | 4.19B | 5.76B |
Balance Sheet | |||||
| Total Assets | 227.12B | 215.90B | 211.76B | 212.35B | 192.38B |
| Cash, Cash Equivalents and Short-Term Investments | 33.66B | 24.21B | 26.12B | 16.82B | 18.55B |
| Total Debt | 33.18B | 64.52B | 77.65B | 86.46B | 88.60B |
| Total Liabilities | 104.00B | 103.85B | 112.87B | 124.59B | 119.59B |
| Stockholders Equity | 74.96B | 69.19B | 60.60B | 54.40B | 57.26B |
Cash Flow | |||||
| Free Cash Flow | 19.76B | 22.45B | 20.33B | 22.99B | 26.09B |
| Operating Cash Flow | 27.91B | 32.81B | 27.04B | 27.75B | 28.23B |
| Investing Cash Flow | -12.94B | -7.63B | -11.18B | -3.42B | -744.30M |
| Financing Cash Flow | -8.04B | -22.93B | -14.14B | -27.04B | -18.48B |
Aluminum of China Technical Analysis
Neutral
11.84
Price Trends
12.96
Negative
12.30
Negative
9.59
Positive
Market Momentum
-0.52
Negative
46.38
Neutral
70.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2600, the sentiment is Neutral. The current price of 11.84 is below the 20-day moving average (MA) of 12.14, below the 50-day MA of 12.96, and above the 200-day MA of 9.59, indicating a neutral trend. The MACD of -0.52 indicates Negative momentum. The RSI at 46.38 is Neutral, neither overbought nor oversold. The STOCH value of 70.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2600.
Aluminum of China Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$363.98B | 12.62 | 24.18% | 5.10% | 15.38% | 41.07% | |
75 Outperform | HK$32.51B | 8.63 | 26.77% | 1.46% | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
61 Neutral | HK$215.07B | 8.49 | 19.96% | 3.32% | 20.06% | 20.03% | |
60 Neutral | HK$817.42M | 3.83 | 6.88% | ― | 24.22% | -5.91% | |
58 Neutral | HK$3.17B | 4.60 | 10.28% | 8.68% | 10.71% | -22.12% | |
48 Neutral | HK$151.13M | -2.68 | -0.58% | ― | -26.79% | -112.82% |
* Basic Materials Sector Average
HK:2600
Aluminum of China
11.84
8.21
225.81%
HK:0098
Xingfa Aluminium Holdings Ltd.
7.54
0.36
5.01%
HK:1378
China Hongqiao Group Ltd.
36.68
25.28
221.75%
HK:2078
PanAsialum Holdings Co. Ltd.
0.13
<0.01
5.00%
HK:0505
Xingye Alloy Materials Group Limited
0.91
-0.11
-10.78%
HK:2610
Nanshan Aluminium International Holdings Limited
52.40
31.67
152.77%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.