Recently, S&P Global Ratings affirmed Chalco's "BBB" long-term issuer credit rating with a "stable" outlook, upgrading the company's standalone credit profile from "bb+" to "bbb-". As one of the world's three major rating agencies, S&P is responsible for credit assessments of sovereign governments, enterprises, financial institutions, and various debt instruments. Its ratings are widely used in financial markets and business cooperation. S&P believes that, thanks to Chalco's extreme cost-reduction strategy and support from industry fundamentals, the company's debt will decrease by approximately 20% annually from 2023 to 2024. Given the support from domestic aluminum consumption demand and favorable conditions for capacity ceilings, S&P expects aluminum prices to remain firm over the next two years. With a high self-sufficiency rate in key raw materials and products such as bauxite, alumina, and energy, Chalco's cost structure is more resilient than the industry average, and debt is expected to continue declining from 2025 to 2026. This upgrade in credit rating will further enhance Chalco's image and reputation in the capital market, boost investor confidence, and provide strong support for the company.