Aluminum Corporation of China (5.10, 0.00, 0.00%) (601600.SH) in 2014 experienced a huge loss later, the successful turnaround in the first half of this year. China Aluminum 2015 semi-annual report, reporting period, operating income was 66.087 billion yuan, down 5.71%, but net profit of 27.58 million yuan to complete the turnaround.
This year, aluminum prices since the beginning was a unilateral downward trend, the average prices last year rose 5.66%. In this case, China Aluminum gross margin also improved.
Although realized losses in the first half, but the high price and sluggish market conditions make China Chalco still facing a severe test.
27.58 million yuan, the amount of China’s aluminum industry such a large central enterprises, the only drop in the bucket. However, in terms of another level, profit 27.58 million yuan to carry the “loss King” pressure China Aluminum Industry, is still a huge change. Last year, the China Aluminum net loss as high as 4.123 billion yuan.
Industry downturn, in the case of weak market demand, China Aluminum production processes from the start, reducing production costs. In addition to control production costs, China Aluminum in asset integration has also to be adjusted accordingly. In fund management, China Aluminum has been adjusted.
After this offering, the net assets of Aluminum Corporation of China will increase significantly, asset-liability ratio dropped accordingly. Losses in the first half performance, but also to see the dawn of China Aluminum annual losses. Chinalco to expand in foreign markets or license to become a new growth point.