Hongtuo Industrial is the core enterprise of Weiqiao Aluminum & Power and one of the world's largest producers of electrolytic aluminum. However, in recent years, it has been relocating its capacity outside of Shandong, with plans to transfer 3.96 million mt of capacity to Yunnan, involving 3,750 employees. Among this, the capacity planned for transfer between 2025 and 2027 is 1.52 million mt.
According to the relevant approval and publicity documents issued by the Shandong Provincial Department of Industry and Information Technology and the Yunnan Provincial Department of Industry and Information Technology, Hongtuo Industrial plans to transfer 3.96 million mt of electrolytic aluminum capacity within the approved scope to the Yunnan region, accounting for over 60% of its existing electrolytic aluminum capacity.
In terms of employee resettlement, employees corresponding to Hongtuo Industrial's Shandong capacity have two resettlement options: they can be reassigned to other capacity projects in the Shandong region or participate in the construction and operation of new projects in Yunnan based on their willingness.
As of December 31, 2024, the number of employees involved in Hongtuo Industrial's capacity transfer to Yunnan was 3,750. Among them, 3,292 employees were reassigned to other capacity projects in the Shandong region, accounting for 87.79%, while 458 employees were transferred to work in the Yunnan region, accounting for 12.21%.