Cloud Aluminum's net profit fell 67.52% in the first half of the year compared with the same period last year-Shanghai Metals Market

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Cloud Aluminum's net profit fell 67.52% in the first half of the year compared with the same period last year

Translation 02:07:51PM Aug 07, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM8, Aug. 6 / PRNewswire-FirstCall-Asianet / Cloud Aluminum released its semi-annual report for 2018. The company realized total assets of 37.03 billion yuan, an increase of 3.21 percent over the same period last year, and the net assets of shareholders were 9.802 billion yuan, down 0.67 percent from the same period last year. In the first half of the year, the main business income was 10.485 billion yuan, up 3.7 percent from the same period last year, and the net profit of shareholders was 48.2644 million yuan, down 67.52 percent from the same period last year.

Production and operation in the first half of the year

In the first half of 2018, facing the unfavorable situation such as the sharp rise in the price of main raw materials and accessories, the company closely revolved around the annual work theme of "excellent platform, risk control, strong innovation, grasping implementation, and promoting leapfrogging." We will continue to do a good job in production, management, and industrial development, consolidate basic management, vigorously promote the construction of key projects, reduce costs and increase efficiency, and maintain the overall sound operation of the company.

In the first quarter, aluminum prices were relatively low, while alumina, petroleum coke, anode carbon and other bulk raw and auxiliary materials prices rose by a large margin, resulting in a loss for the company.

Since the second quarter, the company has firmly grasped various favorable conditions, such as the continuous recovery in the aluminum product market and the decline in the prices of bulk raw and auxiliary materials, and has taken effective measures from the aspects of tapping potential, reducing costs, improving quality and efficiency, reform and innovation, and so on. Continuously optimize production organization and cost control, operating performance continued to improve, the second quarter of the current period to achieve a certain amount of profit, and to ensure that the company achieved overall profit in the first half of 2018

Key objectives and measures of production and Management in the second half of the year

In the second half of the year, the company will continue to focus on the annual work theme of "excellent platform, risk control, strong innovation, grasp implementation, and promote leapfrogging," give full play to various favorable factors, vigorously do a good job in reducing costs and increasing efficiency, and vigorously improve business performance. Strive to achieve better profit targets for the whole year. In the second half of the year, the company is expected to produce about 800000 tons of alumina, 930000 tons of raw aluminum, 380000 tons of aluminum processing products and 300000 tons of carbon products.

No significant changes in the company's main business and products

During the reporting period, there were no significant changes in the company's main business and products. the main business is bauxite mining, alumina production, aluminum smelting, aluminum processing and aluminum carbon production. The main products are alumina, carbon for aluminum, aluminum ingots for remelting, aluminum rods, aluminum alloys, aluminum plates, strips and foils, and so on.

Main driving factors of business model and performance

The company has constructed a relatively complete aluminum industrial chain integrating bauxite mining, alumina production, electrolytic aluminum smelting, aluminum processing and the production of carbon products for aluminum. on this basis, the company has also focused on the expanding trend in the field of aluminum consumption. We have actively expanded the product market and successfully developed new products with strong competitiveness, such as aluminum alloy welding materials, aluminum foil for new energy power batteries, food and drug packaging foil, wide aluminum foil blank, and so on. Engineering construction and product development projects are being carried out, such as new high-end aluminum alloy materials, new aluminum alloy materials for aviation and rail transit, aluminum alloy parts for automobiles and engines, and civil aluminum alloy products. Continuous extension to the downstream aluminum alloy materials, intensive processing and terminal application products-based aluminum deep processing field, continue to enhance the company's green low-carbon hydropower aluminum integrated industrial value chain.

Key Words:  Cloud aluminum  revenue  profit  results 

Cloud Aluminum's net profit fell 67.52% in the first half of the year compared with the same period last year

Translation 02:07:51PM Aug 07, 2018 Source:SMM
The content below was translated by Tencent automatically for reference.

SMM8, Aug. 6 / PRNewswire-FirstCall-Asianet / Cloud Aluminum released its semi-annual report for 2018. The company realized total assets of 37.03 billion yuan, an increase of 3.21 percent over the same period last year, and the net assets of shareholders were 9.802 billion yuan, down 0.67 percent from the same period last year. In the first half of the year, the main business income was 10.485 billion yuan, up 3.7 percent from the same period last year, and the net profit of shareholders was 48.2644 million yuan, down 67.52 percent from the same period last year.

Production and operation in the first half of the year

In the first half of 2018, facing the unfavorable situation such as the sharp rise in the price of main raw materials and accessories, the company closely revolved around the annual work theme of "excellent platform, risk control, strong innovation, grasping implementation, and promoting leapfrogging." We will continue to do a good job in production, management, and industrial development, consolidate basic management, vigorously promote the construction of key projects, reduce costs and increase efficiency, and maintain the overall sound operation of the company.

In the first quarter, aluminum prices were relatively low, while alumina, petroleum coke, anode carbon and other bulk raw and auxiliary materials prices rose by a large margin, resulting in a loss for the company.

Since the second quarter, the company has firmly grasped various favorable conditions, such as the continuous recovery in the aluminum product market and the decline in the prices of bulk raw and auxiliary materials, and has taken effective measures from the aspects of tapping potential, reducing costs, improving quality and efficiency, reform and innovation, and so on. Continuously optimize production organization and cost control, operating performance continued to improve, the second quarter of the current period to achieve a certain amount of profit, and to ensure that the company achieved overall profit in the first half of 2018

Key objectives and measures of production and Management in the second half of the year

In the second half of the year, the company will continue to focus on the annual work theme of "excellent platform, risk control, strong innovation, grasp implementation, and promote leapfrogging," give full play to various favorable factors, vigorously do a good job in reducing costs and increasing efficiency, and vigorously improve business performance. Strive to achieve better profit targets for the whole year. In the second half of the year, the company is expected to produce about 800000 tons of alumina, 930000 tons of raw aluminum, 380000 tons of aluminum processing products and 300000 tons of carbon products.

No significant changes in the company's main business and products

During the reporting period, there were no significant changes in the company's main business and products. the main business is bauxite mining, alumina production, aluminum smelting, aluminum processing and aluminum carbon production. The main products are alumina, carbon for aluminum, aluminum ingots for remelting, aluminum rods, aluminum alloys, aluminum plates, strips and foils, and so on.

Main driving factors of business model and performance

The company has constructed a relatively complete aluminum industrial chain integrating bauxite mining, alumina production, electrolytic aluminum smelting, aluminum processing and the production of carbon products for aluminum. on this basis, the company has also focused on the expanding trend in the field of aluminum consumption. We have actively expanded the product market and successfully developed new products with strong competitiveness, such as aluminum alloy welding materials, aluminum foil for new energy power batteries, food and drug packaging foil, wide aluminum foil blank, and so on. Engineering construction and product development projects are being carried out, such as new high-end aluminum alloy materials, new aluminum alloy materials for aviation and rail transit, aluminum alloy parts for automobiles and engines, and civil aluminum alloy products. Continuous extension to the downstream aluminum alloy materials, intensive processing and terminal application products-based aluminum deep processing field, continue to enhance the company's green low-carbon hydropower aluminum integrated industrial value chain.

Key Words:  Cloud aluminum  revenue  profit  results