[SMM afternoon Review] South China Aluminum: early afternoon aluminum shock downward market trading is more active

3月29日讯，天山铝业公告称，预计2026年第一季度归属于上市公司股东的净利润为22亿元，同比增长107.92%。公司业绩增长的主要原因为：140万吨电解铝绿色低碳能效提升项目部分产能投产，电解铝产销量同比增长约10%；同时，电解铝产品销售价格同比上涨约17%，生产成本有效控制同比有所下降，量价协同发力。

On March 27, the main transformer expansion project of the first UHV project in Henan's power grid during the "15th Five-Year Plan" period, the 1000 kV South Henan UHV substation expansion project (hereinafter referred to as the "South Henan expansion project"), was started. The commissioning of the project will increase the power supply capacity by 50%, further improve the safe operation and power supply guarantee level of the power grid, and promote the green and low-carbon transformation of energy.

On March 29, the first 500 kV substation in Guiyang Gu'an New Area, the Ma'an Transmission and Transformation Project, was officially put into use, effectively improving the power supply guarantee ability for the surrounding data centers. As one of the national hub nodes of the national integrated computing network, Guizhou, with Guanshan New Area as the core bearing area, accelerates the construction of data center clusters. With the successive commissioning of multiple data centers, the overall electricity demand in the region has grown rapidly. Guizhou is accelerating the construction of power grid infrastructure and promoting the synergy between electricity and computing power.