The first quarter net profit of Chinalco is about 967 million yuan, an increase of about 30 times compared with the same period last year.

Published: Apr 8, 2021 16:57

Save

[Chinalco's first-quarter net profit is about 967 million yuan, a year-on-year increase of about 30 times.] A few days ago, Chinalco issued a pre-increase announcement on its results for the first quarter of 2021. The data show that according to the company's preliminary estimates, the net profit attributed to shareholders of listed companies is expected to be about 967 million yuan, an increase of about 936 million yuan compared with the same period last year, and a year-on-year increase of about 30 times.

A few days ago, Chinalco issued a pre-increase announcement on its results for the first quarter of 2021. The data show that according to the company's preliminary estimates, the net profit attributed to shareholders of listed companies is expected to be about 967 million yuan, an increase of about 936 million yuan compared with the same period last year. Year-on-year increase of about 30 times.

The net profit after deducting non-recurring gains and losses belonging to shareholders of listed companies is about 1.288 billion yuan, an increase of about 1.579 billion yuan compared with the same period last year.

Earnings per share: about 0.054 yuan, an increase of about 0.056 yuan compared with the same period last year.

The main reason for the substantial increase in the company's performance is that the company adheres to the market orientation, pays close attention to reducing the cost and increasing efficiency, enhances the competitiveness of the main products through all-factor benchmarking, and seizes the market opportunity in the market environment of high aluminum prices. the gross profit of the company's main products increased significantly compared with the same period last year.

Aluminum Corporation of China performance report

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

Fed Governor Milan Pushes for Over 100 Basis Points Cut, Contradicts Barkin on Caution

Federal Reserve Governor Milan pointed out that it is necessary for the US Fed to cut interest rates by more than 100 basis points this year. At the same time, he is very much looking forward to the performance of Kevin Warsh as Fed Chairman. However, Richmond Fed President Barkin emphasized that monetary policy must remain cautious until inflation fully pulls back to the target level, thereby ensuring the stability of the labour market.

22 hours ago

Democratic Senators Demand Delay in Fed Nomination Amid Criminal Investigation

All 11 Democratic members of the US Senate Banking Committee jointly sent a letter to the committee's chairman, Tim Scott, requesting that all nomination processes for the prospective Fed Chairman, Kevin Warsh, be postponed until the criminal investigation into current Fed Chairman Powell and other board members is concluded. However, Scott stated that Warsh's confirmation was a done deal.

22 hours ago

Fed to Keep Large Banks' Capital Levels Unchanged, Postpones Stress Test Reforms Until 2027

The US Fed has announced that it will maintain the capital levels of large banks unchanged during the upcoming stress test cycle (corresponding to the 2026 cycle). At the same time, the US Fed is planning multidimensional reforms to this annual test, aiming to enhance its transparency. The US Fed's Vice Chair for Supervision, Bowman, revealed that adjustments to the stress capital buffer requirements for large banks will be postponed until 2027. This move is intended to provide the US Fed with sufficient time to evaluate potential flaws that may be exposed in its testing models when assessing banks' financial conditions under simulated economic downturn scenarios.

22 hours ago