SMM9: in the first half of 2020, the global outbreak of the COVID-19 epidemic and the growing uncontrollable situation plunged the world into panic and uncertainty, and the global systemic financial risks continued to expand. With the collapse in oil prices, commodity prices, including electrolytic aluminum, fell sharply. Macroeconomic pessimism eased in the second quarter, metal prices gradually repaired, but the overall focus of operation is still on a downward trend. In the international market, the outbreak led to a serious shutdown of downstream enterprises, a sharp drop in aluminum demand, while a limited reduction in supply, increased excess pressure led to the continued low level of Lunal, a serious lack of momentum to rebound.
In the domestic market, in the first half of 2020, domestic aluminum futures prices first suppressed and then rose, showing an obvious "V" trend. Affected by the increased demand for holiday stock and the slowdown in the production of new production capacity, domestic electrolytic aluminum prices rose at the beginning of the year. Novel coronavirus outbreak caused downstream enterprises to resume work lagged, aluminum consumption significantly reduced, while the supply side with the new production and part of the production capacity to resume production, electrolytic aluminum supply exceeds demand, inventory increased, aluminum prices declined.
In the second quarter, with the phased results of domestic epidemic prevention and control, the resumption of work and production, the rapid recovery of raw aluminum consumption, coupled with the delayed concentrated release of orders, the increase in the amount of raw aluminum replacing scrap aluminum, speculative hoarding in the market, and so on, aluminum inventory dropped sharply, Shanghai aluminum continued to rebound, and aluminum prices in March also exceeded 14000 yuan / ton. In the first half of 2020, the average prices of aluminum for the month and March of SHFE were 13191 yuan / ton and 12980 yuan / ton respectively, down 4.3 per cent and 5.8 per cent respectively from the same period last year.
Since 2020, in the face of the impact of novel coronavirus's epidemic situation, the aluminum industry is facing greater challenges, but with the support of a series of policies to support the steady development of the real economy, such as epidemic prevention and control, resumption of work and production, and "six stability and six guarantees", the consumer market of aluminum products has gradually recovered, the prices of aluminum products have stabilized and rebounded, the inventory of aluminum ingots has continued to decline, corporate profits have gradually improved, and the aluminum industry has maintained a stable operation.
Aluminum of China
The net profit of Chinalco belonging to its parent shareholders in the first half of 2020 was 36 million yuan, a decrease of 671 million yuan compared with 707 million yuan in the same period last year, mainly due to the decline in the price of its main products. The Group achieved an operating income of 84.109 billion yuan in the first half of 2020, a decrease of 10.912 billion yuan compared with 95.021 billion yuan in the same period last year, mainly due to the decline in the price of its main products.
Yunnan aluminum co., Ltd.
In the first half of 2020, the company realized operating income of 12.068 billion yuan, an increase of 11.28% over the same period last year, a total profit of 399 million yuan, an increase of 78.25% over the same period last year, a net profit of 354 million yuan, an increase of 95.22% over the same period last year, and a net profit of 243 million yuan belonging to the parent company, an increase of 51.38%.
Nanshan aluminum industry
The company's operating income in the first half of the year was 10.197 billion yuan, down 3.3% from the same period last year; the net profit attributed to shareholders of listed companies was 849 million yuan, an increase of 10.57% over the same period last year; and the company's non-operating income for the current period increased by 75.64% over the same period last year, mainly due to the increase in equipment compensation received by the insurance company in the current period. The company is mainly engaged in the development, production, processing and sales of aluminum and aluminum alloy products. At present, it has formed a complete production line from thermoelectric-alumina-electrolytic aluminum-melting-casting-(aluminum profile / hot rolling-cold rolling-foil rolling / forging).
Dingsheng new material
During the reporting period, the operating income was 5.649 billion yuan, of which the income from the main business was 5.615 billion yuan, up 4.07% from the same period last year; the total profit was-9.019 million yuan, down 106.02% from the same period last year; the net profit was-14.1478 million yuan, down 112.27% from the same period last year, and the net profit belonging to the parent company was-12.5497 million yuan, down 111.18% from the same period last year. Financial expenses increased by 57.51%, the increase in the current period over the same period last year was mainly due to the increase in loan interest; the increase in R & D expenses was 483.63%, and the increase in the current period over the same period last year was mainly due to the increase in investment in R & D projects.
Mingtai aluminum industry
In the first half of the year, Mingtai Aluminium's operating income was 7.153 billion yuan, up 3.91% from the same period last year; the net profit belonging to shareholders of listed companies was 351 million yuan, up 6.49% from the same period last year. In the first half of the year, the company excelled in accomplishing the set tasks and targets, and high value-added projects such as "high-precision aluminum plate and strip project for transportation", "annual output of 125000 tons of automotive aluminum alloy plate" and "electronic material industrial park project" continued to release production capacity. Aluminum plate, strip and foil output of 451100 tons, sales of 438800 tons, aluminum alloy rail car body sales of 129 sections, aluminum profiles foreign sales of 3834 tons.
Xinjiang Zhonghe
In the first half of 2020, the company achieved sales revenue of 2.347 billion yuan, an increase of 4.19% over the same period last year, and a net profit of 134 million yuan belonging to shareholders of listed companies, an increase of 48.04% over the same period last year. During the reporting period, the company achieved sales revenue of 322 million yuan for high purity aluminum and 299 million yuan for electronic aluminum foil, which remained stable compared with the same period last year; electrode foil achieved sales revenue of 357 million yuan due to the lack of downstream demand, showing a certain decline; alloy products, aluminum products totaled 724 million yuan, slightly lower than the same period last year.
Jiaozuo Wanfang
As of June 30, 2020, the company's operating income in the first half of 2020 was 2283541672.75 yuan, down 1.66% from the same period last year; the net profit attributed to shareholders of listed companies was 151235534.19 yuan,-34318941.13 yuan compared with the same period last year, turning losses into profits. During the reporting period, the main reasons for the company's turnaround were as follows: the prices of prebaked anodes, coal, alumina, electricity and other major raw materials and energy prices decreased compared with the same period last year; the company's futures hedging business income increased compared with the same period last year.
Minfa aluminum industry
The net profit attributed to shareholders of listed companies in the first half of 2020 was about 31.39 million yuan, an increase of 85.4 percent over the same period last year, and operating income was about 652 million yuan, an increase of 9.48 percent. Basic earnings per share was 0.03 yuan, an increase of 50 percent over the same period last year. During the reporting period, the epidemic situation of novel coronavirus at home and abroad was grim. affected by COVID-19 's epidemic situation, the company's resumption of work was delayed and export sales stagnated, and sales were seriously affected in the first quarter, but the company worked hard to overcome unfavorable factors. On the one hand, it comprehensively and orderly arranged the company's epidemic prevention and control work, on the other hand, it made every effort to promote the resumption of production and sales to ensure the resumption of main business as soon as possible
New materials of Sitong
In the first half of 2020, the net profit attributed to shareholders of listed companies was about 126 million yuan, down 43.12 percent from the same period last year. Operating income was about 2.311 billion yuan, down 27.86 percent from the same period last year. Basic earnings per share was 0.22 yuan, down 45 percent from the same period last year. During the reporting period, according to the business plan formulated at the beginning of the year, the company actively promoted the resumption of work and production, expanded and strengthened the existing business, vigorously distributed the new energy vehicle and commercial vehicle industry, and accelerated the integration of the industrial chain. In addition, the company will open up the upstream and downstream of the industry, realize the sharing of sales channels, save costs through centralized procurement, give full play to the synergy effect, and form a comprehensive competitive advantage integrating human resources, product research and development, production technology and customer resources. deep ploughing the upper and lower reaches of the industrial chain, and constantly enhance the value of listed companies.
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