Mingtai Aluminium's first quarter results increased by 82.78% compared with the same period last year, and the timely increase in processing fees and prices drove the performance growth.

In the first quarter results report of 2022 released by Mingtai Aluminum, Mingtai Aluminum achieved operating income of 7.489 billion yuan in the first quarter, an increase of 53.25% over the same period last year, and the net profit of shareholders belonging to listed companies reached 591 million yuan, an increase of 82.78% over the same period last year.

With regard to the reasons for the growth in performance, Mingtai Aluminum said that sales and selling prices of its main products rose in the first quarter, driving the growth of operating revenue. At the same time, in view of the increase in costs, timely increase in processing fees, and the increase in the proportion of export products, the increase in the use of recycled aluminum has also led to an increase in net profit.

According to KuaiBao data from Mingtai Aluminium, the cumulative output of aluminum sheet, strip and foil in the first quarter was 297000 tons, an increase of 6% over the same period last year, and sales were 280400 tons, unchanged from the previous year. The output of aluminum profile products totaled 5400 tons, an increase of 54 percent over the same period last year, and sales reached 5500 tons, an increase of 120 percent over the same period last year. From January to March, production and sales showed a steady growth.

Mingtai Aluminum, as a leading enterprise in China's aluminum Calendering industry, mainly carries out the comprehensive utilization of aluminum sheet, foil, aluminum profiles and renewable resources. the products are widely used in new energy, new materials, 5G communications, automobile manufacturing, military industry, pharmaceutical packaging, food packaging, printing and plate making, electronic appliances, transportation, UHV transmission, rail car body and many other fields to meet the individual needs of different customers.

According to KuaiBao data from Mingtai Aluminum, the output of aluminum sheet, strip and foil products in March was 112600 tons, a monthly increase of 12% over the same period last year, and an annual total of 297000 tons, an increase of 6% over the same period last year. Monthly sales of 114300 tons, a monthly increase of 6%, the total for the whole year was 28.04%, the same as the previous year. The output of aluminum profile products was 2200 tons, a monthly increase of 83 percent over the same period last year, an annual total of 5400 tons, an increase of 54 percent over the same period last year, and monthly sales of 2100 tons, an increase of 75 percent over the same period last year, and a total of 5500 tons for the whole year, an increase of 120 percent over the same period last year.