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Chalco's net profit increased by 46.11% year-on-year to achieve a "good start" for the first quarter

Chalco's net profit increased by 46.11% year-on-year to achieve a "good start" for the first quarter

  • Categories:news
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  • Time of issue:2019-05-01 19:51
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(Summary description)On April 29, Aluminum Corporation of China Limited (hereinafter referred to as "China Aluminum") released its first quarter performance report for 2019. The profit momentum remained unabated, achieving a "good start" for the first quarter. The quarterly report shows that in the first quarter, Chalco's operating income was 44.1 billion yuan, a year-on-year increase of 20.07%; the net profit attributable to shareholders of listed companies was 445 million yuan, a year-on-year increase of 46.11%.

Chalco's net profit increased by 46.11% year-on-year to achieve a "good start" for the first quarter

(Summary description)On April 29, Aluminum Corporation of China Limited (hereinafter referred to as "China Aluminum") released its first quarter performance report for 2019. The profit momentum remained unabated, achieving a "good start" for the first quarter. The quarterly report shows that in the first quarter, Chalco's operating income was 44.1 billion yuan, a year-on-year increase of 20.07%; the net profit attributable to shareholders of listed companies was 445 million yuan, a year-on-year increase of 46.11%.

  • Categories:news
  • Author:
  • Origin:
  • Time of issue:2019-05-01 19:51
  • Views:

 

  On April 29, Aluminum Corporation of China Limited (hereinafter referred to as "China Aluminum") released its first quarter performance report for 2019. The profit momentum remained unabated, achieving a "good start" for the first quarter. The quarterly report shows that in the first quarter, Chalco's operating income was 44.1 billion yuan, a year-on-year increase of 20.07%; the net profit attributable to shareholders of listed companies was 445 million yuan, a year-on-year increase of 46.11%.

 

 

  In 2018, Aluminum Corporation of China continued to grow stronger and better, achieving a performance that outperformed the broader market and outperformed its peers, and won the favor of many domestic and foreign investors. JPMorgan Chase upgraded China Aluminum's A-share rating from neutral to overweight, and its target price rose by 20%. Lyon issued a report stating that it raised the target price of Chalco's H shares from HK$3 to HK$3.4, giving it an "outperform" rating. Bank of America Merrill Lynch raised Chalco's H shares to "buy", and Centaline Securities continued Give an investment rating of "overweight".

  According to insiders, in 2019, Chalco will continue to focus on supply-side structural reforms in accordance with the eight-character policy of “consolidate, enhance, improve, and unblock” in 2019, practice hard work, improve quality and efficiency, and reduce costs through the full implementation of “331958” Special action to increase efficiency, focusing on the promotion of "three reductions and three increases", namely the implementation of cost reduction in production, cost reduction in management, optimized allocation of human resources and cost reduction, seeking benefits from science and technology, seeking benefits from investment, seeking benefits from the market, and continuing to consolidate cost competition Advantages, enhance the technological content of products, and promote the progress towards the mid-to-high end of the value chain.

  At the same time, the reporter learned that in order to implement the working ideas of "low cost, high quality, excellent mechanism, and good efficiency", Chalco continued to increase its management reform and innovation, and expanded its management in 2 functional departments and 10 entity companies in the first quarter. Reform pilot projects, implement transformation and upgrading of enterprises that rank low in internal market competitiveness, continue to optimize the layout of the industrial structure, stimulate the vitality of enterprises, and accumulate momentum for subsequent development.

  The first quarter is a traditional off-season for consumption. At the same time, affected by factors such as economic downward pressure, aluminum prices fluctuating year-on-year, and rising costs, the overall profit margin of the aluminum industry has been compressed to a certain extent. Institutional analysis shows that with the arrival of the peak consumption season, industry market expectations are expected to improve. As the industry leader, Chalco's profitability will continue to improve.

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