News Column

Chalco H1 Lost CNY 4.1bn

August 29, 2014

BEIJING, August 29, SinoCast -- Aluminum Corp. of China (Chalco and SHSE: 601600) had operating revenue of about CNY 70.09 billion in the first half of 2014, down 8.55% from around CNY 76.64 billion a year ago. Net loss attributable to shareholders was about CNY 4.12 billion, up around CNY 3.5 billion from CNY 624 million a year earlier. Basic EPS was negative CNY 0.3.

Bulk commodity market has entered a periodical low-ebb since the global financial crisis in 2008 and this put huge pressure on it. It mainly attributed the increased loss to less capital operation earnings. Besides, manufacturing cost of major products fell about 3-7%, but sales price dropped about 6-11% in the meantime.

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Source: Sinocast Metals, Mining & Chemicals Beat (China)

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