1934 ACT FILE NO. 001-15264 SECURITIES AND EXCHANGE COMMISSION
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
For the month of October 2010
Aluminum Corporation of China Limited
No. 62 North Xizhimen Street
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1): __________ Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7): __________ Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
Aluminum Corporation of China Limited
(Registrant) | |
Date October 25, 2010 |
By
/s/ Liu Qiang
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Certain statements contained in this announcement may be regarded as "forward-looking statements" within the meaning of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Company's views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements, unless required by applicable laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this announcement. |
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. |
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(Stock Code: 2600) OVERSEAS REGULATORY ANNOUNCEMENT | |
1 |
IMPORTANT NOTICE |
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1.1 |
The board of directors (the "Board"), the supervisory committee, the directors, supervisors and senior management of Aluminum Corporation of China Limited* (the "Company") guarantee that this report contains no false representation, misleading information or material omission. All of them jointly and severally accept full responsibility for the truthfulness, accuracy and completeness of the contents of this report. |
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1.2 |
All Directors of the Company attended the Board meeting. |
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1.3 |
The financial report of the Company in this 2010 third quarterly report has not been audited. |
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1.4 |
Mr. Xiong Weiping, Person-in charge of the Company, Mr. Chen Jihua, Person-in charge of Accounting, and Lu Dongliang, Head of the Accounting Department warrant the truthfulness and completeness of the financial statements in this quarterly report. |
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2 |
BASIC FINANCIAL CONDITIONS OF THE COMPANY |
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2.1 |
Principal accounting information and financial indicators |
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Currency: RMB |
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The end of the |
The end of the |
Change from the end |
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reporting period |
previous year |
of the previous year |
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(%) |
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Total assets (Thousand RMB) |
139,911,168.00 |
133,975,190.11 |
4.43 |
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Owner's equity (or shareholders' equity) |
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(Thousand RMB) |
51,181,866.00 |
50,400,716.36 |
1.55 |
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Net assets attributable to shareholders |
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of the Company per share (RMB) |
3.78 |
3.73 |
1.34 |
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From the beginning of |
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the year to the end of |
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the reporting period |
Changes from the same |
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(January-September) |
period last year |
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(%) |
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Net cash flow from operating activities |
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(Thousand RMB) |
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5,415,105.00 |
N/A |
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Net cash flow from operating activities |
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per share (RMB) |
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0.4 |
N/A |
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From the |
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beginning of |
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the year to the end |
Changes from |
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The reporting |
of the reporting |
the same |
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period (July- |
period (January- |
period |
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September) |
September) |
last year |
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(%) |
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Net profit attributable to shareholders |
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of the Company (Thousand RMB) |
-117,807.00 |
412,789.00 |
N/A |
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Basic earnings per share (RMB) |
-0.0087 |
0.0305 |
N/A |
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Basic profit per share after |
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extraordinary items (RMB) |
-0.0111 |
0.0067 |
N/A |
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Diluted earnings per share (RMB) |
-0.0087 |
0.0305 |
N/A |
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Return on net assets |
-0.24 |
0.81 |
Decreased by 0.28 |
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(weighted average) (%) |
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percentage points |
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Return on net assets after extraordinary |
-0.29 |
0.18 |
Decreased by 0.11 |
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items (weighted average) (%) |
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percentage points |
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Deducting the gain or loss arising from extraordinary items |
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Amount from the |
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beginning of the year |
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to the end of |
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Extraordinary items |
the reporting period |
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(Thousand RMB) |
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Profit and loss from disposal of non-current assets |
-1,607 |
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Government subsidies included in the profit and |
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loss of the period (excluding government |
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subsidies closely related to the business of |
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the Company and are of fixed amount or |
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fixed quantity in accordance with |
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the State's unified standards) |
90,332 |
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Except for the hedging business that is related to |
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the ordinary business of the Company, |
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the fair value gains or losses arising from held-for-trading |
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financial assets and liabilities and |
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investment income from disposing |
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held-for-trading financial assets and |
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liabilities and available-for-sale financial assets |
339,564 |
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Impairment of receivables subject to separate test |
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back to the impairment |
2,879 |
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Other non-operating income and expenses |
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other than above items |
32,164 |
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Income tax effect of extraordinary items |
-110,359 |
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Minority interest effect of extraordinary items (after tax) |
-30,926 |
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Total |
322,047 |
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2.2 |
Total number of shareholders and the top ten shareholders not subject to trading moratorium as at the end of the reporting period |
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Unit: share |
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Total number of shareholders as at the end of the reporting period |
596,170 |
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The top ten shareholders of tradable shares not subject to trading moratorium |
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Number of |
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tradable shares not |
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subject to trading |
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moratorium held |
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as at the end |
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of the reporting |
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Name of shareholders (in full) |
period |
Class of share |
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HKSCC Nominees Limited |
3,927,217,637 |
Overseas listed |
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foreign shares |
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China Cinda Asset Management Corporation |
900,559,074 |
RMB denominated |
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ordinary shares |
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China Construction Bank Corporation |
709,773,136 |
RMB denominated |
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ordinary shares |
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Guokai Financial Limited Company |
532,070,780 |
RMB denominated |
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ordinary shares |
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Guizhou Provincial Materials Development |
72,800,000 |
RMB denominated |
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and Investment Corporation |
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ordinary shares |
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Guangxi Investment Group Co., Ltd. |
45,824,742 |
RMB denominated |
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ordinary shares |
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ICBC - Shanghai 50 ETF Index Securities Investment Fund |
18,759,551 |
RMB denominated |
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ordinary shares |
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Guotai Junan - China Construction Bank |
17,279,626 |
RMB denominated |
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- The Hong Kong and Shanghai |
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ordinary shares |
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Banking Corporation Ltd |
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UBS AG |
12,337,472 |
RMB denominated |
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ordinary shares |
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Bank of China - Harvest Shanghai Shenzhen 300 |
12,130,617 |
RMB denominated |
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Index Securities Investment Fund |
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ordinary shares |
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3 |
SIGNIFICANT EVENTS |
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3.1 |
Material changes in major accounting items and financial indicators and the reasons thereof |
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Applicable |
Not Applicable |
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1. |
Revenue increased by 97% year-on-year, mainly due to the increase in production and sales volume as a result of the substantial rebound in market price of the Group's major products. |
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2. |
Operating costs increased by 82% year-on-year, mainly due to the increase in production and sales volume as a result of the substantial rebound in market price of the Group's major products. |
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3. |
Financial assets held for trading increasing by 32,719% to reach RMB21,004,000 as compared with the beginning of the year, mainly due to the floating earnings from futures positions held by the Company. |
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4. |
Bills receivable decreased by 38% as compared with the beginning of the year, mainly due to certain bills receivable being received by the Company. |
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5. |
Net accounts receivable increased by 76% as compared with the beginning of the year, mainly due to the growth of accounts receivable as a result of the increased sales volume during the period. |
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6. |
Prepayments increased by 160% as compared with the beginning of the year, mainly due to the increase in the purchase of raw and ancillary materials during the period. |
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7. |
Other net receivable increased by 79% as compared with the beginning of the year, mainly due to the increase in prepaid contribution in resources restructuring during the period. |
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8. |
Provision for inventory impairment increased by 151% as compared with the beginning of the year, mainly due to the provision for inventory impairment of RMB290 million during the period and the write-off of certain impairment provision from cost of main operations following the sales of products as a result of the continuous rally in aluminum price. |
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9. |
Other current assets increased by 33% as compared with the beginning of the year, mainly due to the increase of RMB540 million in the assets held for sale held by Henan Aluminum Co., Limited* ("Henan Aluminum") during the period. |
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10. |
Long-term equity investments increased by 129% as compared with the beginning of the year, mainly due to the increase in both the investment in an associated company, Zhaogu Coal, and the investment gains in associated companies and joint ventures during the period. |
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11. |
Impairment provision for fixed assets decreased by 74% as compared with the beginning of the year, mainly due to the write-off of impairment of original fixed assets as a result of assets scrapping. |
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12. |
Impairment provision for construction in progress decreased by 90% as compared with the beginning of the year, mainly due to the decrease in transfer of construction in progress to assets held for sale of Henan Aluminum, a subsidiary of the Group, during the period. |
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13. |
Financial liabilities held for trading decreased by 94% as compared with the beginning of the year, mainly due to the decrease in floating losses from futures positions held by the Company. |
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14. |
Advance receipts increased by 86% as compared with the beginning of the year, mainly due to advance receipts in respect of sales of alumina and aluminum to the Company. |
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15. |
Interest payable increased by 54% as compared with the beginning of the year, mainly due to the interests accrued as a result of the issue of long-term bonds by the Company. |
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16. |
Non-current liabilities due within one year increased by 184% as compared with the beginning of the year, mainly due to new medium-term notes and long-term borrowings due within one year recorded during the period. |
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17. |
Other current liabilities increased by 9,588% as compared with the beginning of the year, mainly due to the issue of short-term bonds of RMB10.7 billion during the period. |
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18. |
Special payables increased by 1,106% as compared with the beginning of the year, mainly due to the actual government financial subsidy received during the period. |
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19. |
Deferred income tax liabilities decreased by 86% as compared with the beginning of the year, mainly due to the reversal of the deferred income tax liabilities recognized in the previous year by certain subsidiaries during the period. |
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20. |
Special reserve increased by 48% as compared with the beginning of the year, mainly due to the excess of safety reserve fund newly accrued over the amount used during the period. |
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21. |
Currency translation differences increased by 72% as compared with the beginning of the year, mainly due to the increase in the value of Australian dollar assets held by Chalco Hong Kong Limited on the back of the appreciation in Australian dollar. |
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3.2 |
Significant events and their effect and analysis on solutions |
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Applicable |
Not Applicable |
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3.3 |
Implementation of undertakings by the Company, its shareholders and de facto controller |
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Applicable |
Not Applicable |
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During the A share issue, the Company undertook to sell its aluminum fabrication business or acquire Chinalco's aluminum fabrication business, and acquire Chinalco's pseudo-boehmite business within a certain period of time following the listing of its A shares. |
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Certain subsidiaries of the Company had minor activities in the pseudo-boehmite business. However, as the pseudo-boehmite business was not among the principal activities of the Company, sales revenue from this segment made up an insignificant portion of the Company's revenue and the sales locations of pseudo-boehmite of the Company and Chinalco were different, the competition between Chinalco and the Company in respect of pseudo-boehmite business was limited. |
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Up till now, in consideration of that pseudo-boehmite business of Chinalco have yet fulfilled the conditions for injection to the Company in terms of profitability and ownership, the Company will complete the acquisition of the business when such conditions are fulfilled. |
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Apart from non-performance of the undertaking in relation to injection of the pseudo-boehmite business to the Company's portfolio due to objective factors, other undertakings of Chinalco have been duly performed. |
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3.4 |
Warning on any potential loss in accumulated net profit for the period from the beginning of the year to the end of the next reporting period or any material change from the corresponding period of last year and the reason thereof |
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Applicable |
Not Applicable |
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As the global economy continues to regain its momentum and the PRC economy grows steadily, aluminum consumption gradually increases. As cost reduction measures adopted by the Group gradually take effect, and production and sales volume and profitability of major products gradually pick up, financial performance has been improved. Therefore, the Group is expected to record a profit from the beginning of the year to the end of the next reporting period. Details will be disclosed in the 2010 annual results of the Company. |
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3.5 |
Implementation of cash dividend distribution policy during the reporting period |
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The Company had specified its cash dividend distribution policy in the prospectus. |
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There was no implementation of cash dividend distribution during the reporting period. |
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Aluminum Corporation of China Limited* |
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Legal representative: Xiong Weiping |
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4 |
APPENDICES |
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4.1 |
Consolidated Balance Sheet |
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As at 30 September 2010 |
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Prepared by: Aluminum Corporation of China Limited* |
Unit: Thousand RMB, Unaudited |
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Items |
Closing balance |
Opening balance |
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Current assets: |
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Cash |
8,445,744 |
7,858,760 |
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Settlement reserve |
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Placements with banks and |
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other financial institutions |
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Held-for-trading financial assets |
21,004 |
64 |
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Bills receivable |
1,109,760 |
1,785,631 |
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Accounts receivable |
2,500,950 |
1,417,451 |
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Prepayments |
3,230,971 |
1,240,937 |
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Premiums receivable |
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Receivables from reinsurers |
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Deposits receivable from |
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reinsurance agreements |
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Interests receivable |
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Dividends receivable |
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Other receivable |
2,112,274 |
1,183,029 |
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Purchases of resold financial assets |
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Inventories |
20,575,690 |
20,423,227 |
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Non-current assets due within one year |
243,614 |
443,128 |
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Other current assets |
2,631,174 |
1,981,650 |
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Total current assets |
40,871,181 |
36,333,877 |
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Non-current assets: |
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Entrusted loans and advances granted |
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Financial assets available-for-sale |
0 |
1,435 |
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Held-to-maturity investments |
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Long-term receivables |
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Long-term equity investments |
2,149,135 |
937,407 |
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Investment properties |
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Fixed assets |
68,400,508 |
70,199,889 |
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Construction in progress |
21,118,284 |
18,978,257 |
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Construction materials |
400,259 |
482,935 |
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Disposals of fixed assets |
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Biological assets for production |
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Oil and gas assets |
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Intangible assets |
2,760,439 |
2,630,287 |
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Development expenses |
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Goodwill |
2,362,736 |
2,362,735 |
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Long-term deferred expenditures |
136,362 |
163,572 |
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Deferred income tax assets |
1,572,264 |
1,647,240 |
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Other non-current assets |
140,000 |
237,555 |
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Total non-current assets |
99,039,987 |
97,641,312 |
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Total assets |
139,911,168 |
133,975,189 |
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Current liabilities: |
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Short-term borrowings |
18,468,513 |
22,993,285 |
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Borrowings from central bank |
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Deposit taking and deposit in |
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inter-bank market |
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Placements from banks and other |
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financial institutions |
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Held-for-trading financial liabilities |
2,902 |
47,855 |
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Notes payable |
1,863,153 |
1,731,707 |
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Accounts payable |
4,932,752 |
4,440,736 |
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Payments received in advance |
1,837,990 |
989,734 |
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Disposal of repurchased financial assets |
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Handling charges and commissions payable |
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Staff remuneration payable |
405,547 |
318,703 |
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Taxes payable |
476,645 |
415,365 |
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Interests payable |
521,373 |
338,476 |
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Dividends payable |
92,099 |
115,978 |
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Other payable |
4,604,710 |
5,249,808 |
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Reinsurance accounts payable |
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Deposits for insurance contracts |
|
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Agent brokage fee |
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Agent underwriting fee |
|
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Non-current liabilities due within one year |
9,314,032 |
3,277,931 |
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Other current liabilities |
10,684,758 |
110,283 |
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Total current liabilities |
53,204,474 |
40,029,861 |
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Non-current liabilities: |
|
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Long-term borrowings |
20,210,898 |
25,899,249 |
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Debentures payable |
8,969,416 |
11,905,233 |
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Long-term payables |
16,710 |
25,090 |
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Special payables |
273,192 |
22,660 |
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Accrued liabilities |
|
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Deferred income tax liabilities |
4,946 |
34,535 |
|
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Other non-current liabilities |
395,115 |
477,404 |
|
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Total non-current liabilities |
29,870,277 |
38,364,171 |
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|
|
|
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|
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Total liabilities |
83,074,751 |
78,394,032 |
|
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|
|
|
|
|
|
|
|
Shareholder's equity: |
|
|
|
|
Share capital |
13,524,488 |
13,524,488 |
|
|
Capital reserve |
13,556,337 |
13,282,199 |
|
|
Less: Treasury stock |
|
|
|
|
Special reserve |
83,810 |
56,747 |
|
|
Surplus reserve |
5,799,021 |
5,799,232 |
|
|
General risk provision |
|
|
|
|
Undistributed profit |
18,233,410 |
17,820,353 |
|
|
Foreign currencies translations differences |
-15,200 |
-54,926 |
|
|
Total owners' equity attributable |
|
|
|
|
to the parent company |
51,181,866 |
50,428,093 |
|
|
Minority interests |
5,654,551 |
5,153,064 |
|
|
Total shareholders' equity |
56,836,417 |
55,581,157 |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and shareholders' equity |
139,911,168 |
133,975,189 |
|
|
|
|
|
|
|
|
|
|
|
|
Company Legal |
Person-in-charge |
Head of Accounting |
|
|
Representative: |
of Accounting: |
Department: |
|
|
Xiong Weiping |
Chen Jihua |
Lu Dongliang |
|
|
|
|
|
|
|
Balance Sheet of the Parent Company |
|
|
As at 30 September 2010 |
Unit: Thousand RMB, Unaudited |
|
|
Prepared by: Aluminum Corporation of China Limited* |
|
|
|
|
|
|
|
Items |
Closing balance |
Opening balance |
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
4,667,656 |
4,382,291 |
|
|
Held-for-trading financial assets |
|
|
|
|
Bills receivable |
651,131 |
1,170,264 |
|
|
Accounts receivable |
1,931,558 |
1,754,022 |
|
|
Prepayments |
913,791 |
375,940 |
|
|
Interests receivable |
|
|
|
|
Dividends receivable |
141,651 |
141,651 |
|
|
Other receivable |
3,749,794 |
2,952,559 |
|
|
Inventories |
10,600,183 |
10,586,033 |
|
|
Non-current assets due within one year |
28,000 |
28,000 |
|
|
Other current assets |
557,275 |
588,173 |
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
23,241,039 |
21,978,933 |
|
|
|
|
|
|
|
|
|
|
|
|
Non-current assets: |
|
|
|
|
Financial assets available-for-sale |
|
|
|
|
Held-to-maturity investment |
|
|
|
|
Long-term receivables |
|
|
|
|
Long-term equity investments |
14,098,881 |
13,027,237 |
|
|
Investment properties |
|
|
|
|
Fixed assets |
45,195,588 |
46,188,672 |
|
|
Construction in progress |
10,983,476 |
9,625,242 |
|
|
Construction materials |
164,070 |
155,661 |
|
|
Disposal of fixed assets |
|
|
|
|
Biological assets for production |
|
|
|
|
Oil and gas assets |
|
|
|
|
Intangible assets |
1,197,531 |
1,089,898 |
|
|
Development expenses |
|
|
|
|
Goodwill |
2,330,946 |
2,330,945 |
|
|
Long-term deferred expenditures |
67,963 |
80,156 |
|
|
Deferred income tax assets |
1,051,524 |
1,199,094 |
|
|
Other non-current assets |
140,000 |
168,000 |
|
|
Total non-current assets |
75,229,979 |
73,864,905 |
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
98,471,018 |
95,843,838 |
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
Short-term borrowings |
4,400,000 |
10,800,000 |
|
|
Held-for-trading financial liabilities |
368 |
29,952 |
|
|
Notes payable |
149,500 |
511,202 |
|
|
Accounts payable |
2,522,786 |
2,060,028 |
|
|
Payments received in advance |
308,587 |
281,294 |
|
|
Staff remuneration payable |
248,179 |
208,994 |
|
|
Taxes payable |
282,414 |
209,526 |
|
|
Interests payable |
475,908 |
304,855 |
|
|
Dividends payable |
|
|
|
|
Other payable |
2,846,367 |
3,389,733 |
|
|
Non-current liabilities due within one year |
7,605,725 |
470,346 |
|
|
Other current liabilities |
9,982,972 |
49,486 |
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
28,822,806 |
18,315,416 |
|
|
|
|
|
|
|
|
|
|
|
|
Non-current liabilities: |
|
|
|
|
Long-term borrowings |
9,060,723 |
14,626,268 |
|
|
Debentures payable |
8,969,416 |
11,905,233 |
|
|
Long-term payables |
16,710 |
25,090 |
|
|
Special payables |
164,700 |
22,660 |
|
|
Accrued liabilities |
|
|
|
|
Deferred income tax liabilities |
|
|
|
|
Other non-current liabilities |
252,196 |
272,722 |
|
|
Total non-current liabilities |
18,463,745 |
26,851,973 |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
47,286,551 |
45,167,389 |
|
|
|
|
|
|
|
|
|
|
|
|
Shareholder's equity: |
|
|
|
|
Share capital |
13,524,488 |
13,524,488 |
|
|
Capital reserve |
14,184,987 |
14,172,556 |
|
|
Less: Treasury stock |
|
|
|
|
Special Reserve |
44,014 |
26,290 |
|
|
Surplus Reserve |
5,799,232 |
5,799,232 |
|
|
General risk provision |
|
|
|
|
Undistributed profit |
17,631,746 |
17,153,883 |
|
|
Total shareholder's equity |
51,184,467 |
50,676,449 |
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and owners' equity |
98,471,018 |
95,843,838 |
|
|
|
|
|
|
|
|
|
|
|
|
Company Legal |
Person-in-charge |
Head of Accounting |
|
|
Representative: |
of Accounting: |
Department: |
|
|
Xiong Weiping |
Chen Jihua |
Lu Dongliang |
|
|
|
|
|
|
4.2 |
Consolidated Income Statement |
|
|
Prepared by: Aluminum Corporation of China Limited |
|
|
|
|
|
|
|
|
Unit: Thousand RMB Unaudited |
|
|
|
|
|
|
|
|
|
|
From the |
|
|
|
|
|
From the |
beginning of |
|
|
|
|
|
beginning |
previous year to |
|
|
|
|
Amount for the |
of year to |
the end of the |
|
|
|
|
corresponding |
the end of |
reporting |
|
|
|
Amount |
period of the |
the reporting |
period of the |
|
|
|
for the period |
previous year |
period |
previous year |
|
|
|
(July - |
(July - |
(January - |
(January - |
|
|
Items |
September) |
September) |
September) |
September) |
|
|
|
|
|
|
|
|
|
1. |
Total operating revenue |
28,794,263 |
17,076,185 |
88,572,732 |
45,060,869 |
|
|
|
Including: |
operating revenue |
28,794,263 |
17,076,185 |
88,572,732 |
45,060,869 |
|
|
|
|
Interest income |
|
|
|
|
|
|
|
|
Premiums earned |
|
|
|
|
|
|
|
|
Handling charges and |
|
|
|
|
|
|
|
|
commission income |
|
|
|
|
|
|
2. |
Total cost of operations |
29,035,325 |
17,090,073 |
88,550,425 |
49,916,160 |
|
|
|
Including: |
operating cost |
27,479,116 |
15,608,882 |
83,193,278 |
45,605,866 |
|
|
|
|
Interest expenses |
|
|
|
|
|
|
|
|
Handling charges and |
|
|
|
|
|
|
|
|
commission expenses |
|
|
|
|
|
|
|
|
Returned premium |
|
|
|
|
|
|
|
|
Net expenditure for |
|
|
|
|
|
|
|
|
compensation |
|
|
|
|
|
|
|
|
payments |
|
|
|
|
|
|
|
|
Net provision for |
|
|
|
|
|
|
|
|
insurance deposits |
|
|
|
|
|
|
|
|
Policyholder dividend |
|
|
|
|
|
|
|
|
expenses |
|
|
|
|
|
|
|
|
Reinsurance costs |
|
|
|
|
|
|
|
|
Business tax and |
|
|
|
|
|
|
|
|
surcharges |
81,686 |
75,183 |
253,371 |
181,589 |
|
|
|
|
Selling expenses |
369,440 |
312,132 |
1,157,522 |
866,495 |
|
|
|
|
Administrative expenses |
483,233 |
526,005 |
1,722,458 |
1,648,470 |
|
|
|
|
Finance expenses |
624,282 |
567,973 |
1,922,756 |
1,617,068 |
|
|
|
|
Loss on assets |
|
|
|
|
|
|
|
|
impairment |
-2,432 |
-102 |
301,040 |
-3,328 |
|
|
|
Add: |
Gains on fair |
|
|
|
|
|
|
|
|
value changes |
|
|
|
|
|
|
|
|
(loss stated with "-") |
-26,711 |
-64,998 |
65,892 |
14,708 |
|
|
|
|
Investment income |
|
|
|
|
|
|
|
|
(loss stated with "-") |
122,679 |
186,438 |
634,904 |
385,247 |
|
|
|
Including: |
Investment income |
|
|
|
|
|
|
|
|
from associated |
|
|
|
|
|
|
|
|
Companies and |
|
|
|
|
|
|
|
|
jointly controlled |
|
|
|
|
|
|
|
|
entities |
91,214 |
21,024 |
362,600 |
-48,360 |
|
|
|
|
Foreign currency |
|
|
|
|
|
|
|
|
exchange gains |
|
|
|
|
|
|
|
|
(loss stated with "-") |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. |
Operating profit |
|
|
|
|
|
|
|
(loss stated with "-") |
-145,094 |
107,552 |
723,103 |
-4,455,336 |
|
|
|
Add: |
Non-operating income |
55,338 |
20,085 |
164,022 |
150,307 |
|
|
|
Less: |
Non-operating expenses |
13,951 |
15,815 |
42,963 |
29,990 |
|
|
|
Including: |
Net loss from disposal |
|
|
|
|
|
|
|
|
of non-current assets |
1,080 |
313 |
7,718 |
6,866 |
|
|
|
|
|
|
|
|
|
|
|
4. |
Total profit (total loss stated with "-") |
-103,707 |
111,822 |
844,162 |
-4,335,019 |
|
|
|
Less: |
Income tax expenses |
-310 |
-41,269 |
148,587 |
-713,402 |
|
|
|
|
|
|
|
|
|
|
|
5. |
Net profit (net loss stated with "-") |
-103,397 |
153,091 |
695,575 |
-3,621,617 |
|
|
|
Net profit attributable to |
|
|
|
|
|
|
|
shareholders of the |
|
|
|
|
|
|
|
parent company |
-117,807 |
21,266 |
412,789 |
-3,500,492 |
|
|
|
Minority interests |
14,410 |
131,825 |
282,786 |
-121,125 |
|
|
|
|
|
|
|
|
|
|
6. |
Earnings per share: |
|
|
|
|
|
|
|
(i) |
Basic earnings per share |
-0.0087 |
0.0016 |
0.0305 |
-0.2588 |
|
|
|
(ii) |
Diluted earnings per share |
-0.0087 |
0.0016 |
0.0305 |
-0.2588 |
|
|
|
|
|
|
|
|
|
|
|
7. |
Other comprehensive income |
84,310 |
-39,431 |
39,726 |
106,341 |
|
|
|
|
|
|
|
|
|
|
8. |
Total comprehensive income |
-19,087 |
113,660 |
735,301 |
-3,515,276 |
|
|
|
Total comprehensive income |
|
|
|
|
|
|
|
attributable to owners |
|
|
|
|
|
|
|
of the parent company |
-33,497 |
-18,165 |
452,515 |
-3,394,151 |
|
|
|
Total comprehensive income |
|
|
|
|
|
|
|
attributable to minority interest |
14,410 |
131,825 |
282,786 |
-121,125 |
|
|
|
|
|
|
|
|
|
|
Company Legal |
Person-in-charge |
Head of Accounting |
|
|
Representative: |
of Accounting: |
Department: |
|
|
Xiong Weiping |
Chen Jihua |
Lu Dongliang |
|
|
|
|
|
|
|
Income Statement of the Parent Company |
|
|
Prepared by: Aluminum Corporation of China Limited |
|
|
|
|
|
|
|
|
Unit: Thousand RMB Unaudited |
|
|
|
|
|
|
|
|
|
|
From the |
|
|
|
|
|
From the |
beginning of |
|
|
|
|
|
beginning |
previous year to |
|
|
|
|
|
of year to |
the end of the |
|
|
|
|
Amount for the |
the end of |
reporting |
|
|
|
Amount |
corresponding |
the reporting |
period of the |
|
|
|
for the period |
period of the |
period |
previous year |
|
|
|
(July - |
previous year |
(January - |
(January - |
|
|
Items |
September) |
(July -September) |
September) |
September) |
|
|
|
|
|
|
|
|
|
1. |
Operating revenue |
10,619,404 |
8,838,139 |
32,859,325 |
22,412,020 |
|
|
|
Less: |
operating costs |
10,106,111 |
8,132,713 |
29,901,935 |
23,554,920 |
|
|
|
|
Business tax and |
|
|
|
|
|
|
|
|
surcharges |
55,207 |
45,627 |
167,704 |
100,733 |
|
|
|
|
Selling expenses |
210,376 |
179,177 |
686,671 |
491,242 |
|
|
|
|
Administrative expenses |
307,094 |
341,859 |
1,105,543 |
1,073,055 |
|
|
|
|
Finance expenses |
321,147 |
335,725 |
1,068,595 |
914,438 |
|
|
|
|
Loss on assets |
|
|
|
|
|
|
|
|
impairment |
-1,874 |
-8,981 |
87,270 |
-12,754 |
|
|
|
Add: |
Gains on fair value |
|
|
|
|
|
|
|
|
changes (loss stated |
|
|
|
|
|
|
|
|
with "-") |
250 |
|
29,585 |
|
|
|
|
|
Investment income |
|
|
|
|
|
|
|
|
(loss stated with "-") |
484,780 |
32,011 |
689,204 |
15,504 |
|
|
|
Including: |
Investment income |
|
|
|
|
|
|
|
|
from associated |
|
|
|
|
|
|
|
|
companies and |
|
|
|
|
|
|
|
|
jointly controlled |
|
|
|
|
|
|
|
|
entities |
22,050 |
20,029 |
189,439 |
-17,471 |
|
|
|
|
|
|
|
|
|
|
|
2. |
Operating profit |
|
|
|
|
|
|
|
(loss stated with "-") |
106,373 |
-155,970 |
560,396 |
-3,694,110 |
|
|
|
Add: |
Non-operating income |
45,502 |
11,432 |
89,005 |
100,987 |
|
|
|
Less: |
Non-operating expenses |
8,408 |
10,393 |
28,950 |
20,178 |
|
|
|
Including: |
Net loss from disposal |
|
|
|
|
|
|
|
|
of non-current assets |
161 |
149 |
6,572 |
6,359 |
|
|
|
|
|
|
|
|
|
|
|
3. |
Total profit (total loss stated with "-") |
143,467 |
-154,931 |
620,451 |
-3,613,301 |
|
|
|
Less: |
Income tax expenses |
104,638 |
-11,026 |
142,589 |
-676,352 |
|
|
|
|
|
|
|
|
|
|
|
4. |
Net profit (net loss stated with "-") |
38,829 |
-143,905 |
477,862 |
-2,936,949 |
|
|
|
|
|
|
|
|
|
|
5. |
Earnings per share: |
|
|
|
|
|
|
|
(i) |
Basic earnings per share |
|
|
|
|
|
|
|
(ii) |
Diluted earnings per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6. |
Other comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7. |
Total comprehensive income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Company Legal |
Person-in-charge |
Head of Accounting |
|
|
Representative: |
of Accounting: |
Department: |
|
|
Xiong Weiping |
Chen Jihua |
Lu Dongliang |
|
|
|
|
|
|
4.3 |
Consolidated Cash Flow Statement |
|
|
January-September 2010 |
|
|
|
Prepared by: Aluminum Corporation of China Limited |
|
|
|
|
|
|
|
|
Unit: Thousand RMB Unaudited |
|
|
|
|
|
|
|
|
From the |
|
|
|
From the |
beginning of the |
|
|
|
beginning of the |
previous year to |
|
|
|
year to the end |
the end of the |
|
|
|
of the reporting |
reporting period of |
|
|
Items |
period |
the previous year |
|
|
|
|
|
|
|
1. |
Cash flow from operating activities: |
|
|
|
|
|
Cash received from product sales and |
|
|
|
|
|
rendering of services |
107,596,248 |
55,366,666 |
|
|
|
Net increase in deposits from customers and |
|
|
|
|
|
placements from banks and |
|
|
|
|
|
other financial institutions |
|
|
|
|
|
Net increase in borrowings from central bank |
|
|
|
|
|
Net increase in placements from |
|
|
|
|
|
other financial institutions |
|
|
|
|
|
Cash received from premiums of |
|
|
|
|
|
original insurance contracts |
|
|
|
|
|
Net cash received from reinsurance business |
|
|
|
|
|
Net increase in deposits from |
|
|
|
|
|
policyholders and investments |
|
|
|
|
|
Net increase in disposal of held-for-trading |
|
|
|
|
|
financial assets |
|
|
|
|
|
Cash received from interest, handling charges |
|
|
|
|
|
and commissions |
|
|
|
|
|
Net increase in capital due to banks and |
|
|
|
|
|
other financial institutions |
|
|
|
|
|
Net increase in repurchases |
|
|
|
|
|
Refund of tax and levies received |
123,925 |
136,212 |
|
|
|
Other cash received relating to |
|
|
|
|
|
operating activities |
213,858 |
158,148 |
|
|
|
Sub-total of cash inflow |
|
|
|
|
|
from operating activities |
107,934,031 |
55,661,026 |
|
|
|
Cash paid for purchase of goods and |
|
|
|
|
|
receipt of services |
93,592,513 |
47,389,014 |
|
|
|
Net increase in loans and advances to customers |
|
|
|
|
|
Net increase in placements with central bank |
|
|
|
|
|
and other financial institutions |
|
|
|
|
|
Cash paid for claims on original insurance contracts |
|
|
|
|
|
Cash payment for interest, handling charges |
|
|
|
|
|
and commissions |
|
|
|
|
|
Cash payment for policyholder dividend |
|
|
|
|
|
Cash paid to and on behalf of employees |
4,678,102 |
3,941,692 |
|
|
|
Taxes and surcharges paid |
2,481,205 |
3,038,919 |
|
|
|
Other cash paid relating to operating activities |
1,767,106 |
1,412,103 |
|
|
|
Sub-total of cash outflow from operating activities |
102,518,926 |
55,781,728 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flow from operating activities |
5,415,105 |
-120,702 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2. |
Cash flows from investment activities: |
|
|
|
|
|
Cash received from disposal of investments |
510,826 |
0 |
|
|
|
Cash received from returns on investments |
1,520 |
3,029 |
|
|
|
Net cash received from disposal of fixed assets, |
|
|
|
|
|
intangible assets and other long-term assets |
131,429 |
5,877 |
|
|
|
Net cash received from disposal of subsidiaries |
|
|
|
|
|
and other operating entities |
|
|
|
|
|
Other cash received relating to investment activities |
429,605 |
257,550 |
|
|
|
Sub-total of cash inflow from investment activities |
1,073,380 |
266,456 |
|
|
|
Cash paid to acquire fixed assets, intangible assets |
|
|
|
|
|
and other long-term assets |
6,082,775 |
7,168,055 |
|
|
|
Cash paid for investment |
781,569 |
54,001 |
|
|
|
Net increase in pledged loans |
|
|
|
|
|
Net cash paid for acquisition of subsidiaries |
|
|
|
|
|
and other operating entities |
-22,893 |
69,356 |
|
|
|
Other cash paid relating to investment activities |
697,166 |
571,510 |
|
|
|
Sub-total of cash outflow |
|
|
|
|
|
from investment activities |
7,538,617 |
7,862,922 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from investment activities |
-6,465,237 |
-7,596,466 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. |
Cash flow from financing activities: |
|
|
|
|
|
Proceeds received from investments |
201,040 |
0 |
|
|
|
Including: |
Proceeds received by subsidiaries |
|
|
|
|
|
|
from minority shareholders' |
|
|
|
|
|
|
investment |
201,040 |
0 |
|
|
|
Cash received from borrowings |
23,513,465 |
20,502,559 |
|
|
|
Cash received from issue of debentures |
12,724,470 |
0 |
|
|
|
Other cash received relating to financing activities |
|
|
|
|
|
Sub-total of cash inflow from financing activities |
36,438,975 |
20,502,559 |
|
|
|
Cash paid for repayment |
32,558,619 |
18,166,334 |
|
|
|
Cash paid for dividend and profit |
|
|
|
|
|
distribution or interest repayment |
2,265,760 |
2,519,966 |
|
|
|
Including: |
Dividend and profit |
|
|
|
|
|
|
paid by subsidiaries |
|
|
|
|
|
|
to minority shareholders |
102,890 |
50,636 |
|
|
|
Other cash paid relating to financing activities |
29,410 |
503,270 |
|
|
|
Sub-total of cash outflow from financing activities |
34,853,789 |
21,189,570 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from financing activities |
1,585,186 |
-687,011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4. |
Effect on cash and cash equivalents due to |
|
|
|
|
|
change in foreign currency exchange rate |
48,845 |
20,609 |
|
|
|
|
|
|
|
|
5. |
Net increase in cash and cash equivalents |
583,899 |
-8,383,570 |
|
|
|
Add: |
Balance of cash and cash equivalents |
|
|
|
|
|
|
at the beginning of the period |
7,401,410 |
15,982,130 |
|
|
|
|
|
|
|
|
|
6. |
Balance of cash and cash equivalents |
|
|
|
|
|
at the end of the period |
7,985,309 |
7,598,560 |
|
|
|
|
|
|
|
|
Company Legal |
Person-in-charge |
Head of Accounting |
|
|
Representative: |
of Accounting: |
Department: |
|
|
Xiong Weiping |
Chen Jihua |
Lu Dongliang |
|
|
|
|
|
|
|
Cash Flow Statement of the Parent Company |
|
|
January-September 2010 |
|
|
|
Prepared by: Aluminum Corporation of China Limited |
|
|
|
|
|
|
|
|
Unit: Thousand RMB Unaudited |
|
|
|
|
|
|
|
|
From the |
|
|
|
From the |
beginning of the |
|
|
|
beginning of the |
previous year to |
|
|
|
year to the end |
the end of the |
|
|
|
of the reporting |
reporting period of |
|
|
Items |
period |
the previous year |
|
|
|
|
|
|
|
1. |
Cash flow from operating activities: |
|
|
|
|
|
Cash received from product sales and |
|
|
|
|
|
rendering of services |
35,845,084 |
27,692,306 |
|
|
|
Refund of tax and levies received |
|
|
|
|
|
Other cash received relating to operating activities |
126,899 |
80,966 |
|
|
|
Sub-total of cash inflow from operating activities |
35,971,983 |
27,773,272 |
|
|
|
Cash paid for purchase of goods and |
|
|
|
|
|
receipt of services |
25,494,428 |
20,736,068 |
|
|
|
Cash paid to and on behalf of employees |
3,452,046 |
2,950,881 |
|
|
|
Taxes and surcharges paid |
1,919,516 |
894,671 |
|
|
|
Other cash paid relating to operating activities |
1,920,116 |
1,255,309 |
|
|
|
Sub-total of cash outflow from operating activities |
32,786,106 |
25,836,929 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flow from operating activities |
3,185,877 |
1,936,343 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2. |
Cash flows from investment activities: |
||
|
|
Cash received from disposal of investments |
510,826 |
428,000 |
|
|
|
Cash received from returns on investments |
68,831 |
61,162 |
|
Net cash received from disposal of fixed assets, |
|||||
intangible assets and other long-term assets |
305,916 |
2,161 |
|||
Net cash received from disposal of subsidiaries |
|||||
and other operating entities |
|||||
Other cash received relating to investment activities |
340,223 |
4,017,255 |
|||
Sub-total of cash inflow from investment activities |
1,225,796 |
4,508,578 |
|||
Cash paid to acquire fixed assets, intangible assets |
|||||
|
|
and other long-term assets |
3,864,631 |
3,704,298 |
|
|
|
Cash paid for investment |
71,325 |
1,554,001 |
|
|
|
Net cash paid for acquisition of subsidiaries |
|||
|
|
and other operating entities |
826,554 |
69,356 |
|
|
|
Other cash paid relating to investment activities |
584,166 |
2,583,090 |
|
|
|
Sub-total of cash outflow |
|||
|
|
from investment activities |
5,346,676 |
7,910,745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from investment activities |
-4,120,880 |
-3,402,167 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. |
Cash flows from financing activities: |
||
|
|
Proceeds received from investments |
|||
|
|
Cash received from borrowings |
7,110,000 |
11,073,867 |
|
|
|
Other cash received relating to financing activities |
12,049,833 |
0 |
|
|
|
Sub-total of cash inflow from financing activities |
19,159,833 |
11,073,867 |
|
|
|
Cash paid for repayment |
16,925,167 |
11,047,369 |
|
|
|
Cash paid for dividend and profit distribution |
|||
|
|
or interest repayment |
1,083,094 |
1,448,550 |
|
|
|
Other cash paid relating to financing activities |
0 |
47,000 |
|
|
|
Sub-total of cash outflow from financing activities |
18,008,261 |
12,542,919 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash flows from financing activities |
1,151,572 |
-1,469,052 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4. |
Effect on cash and cash equivalents due to |
||
|
|
change in foreign currency exchange rate |
21,064 |
433 |
|
|
|
|
|
|
|
|
|
5. |
Net increase in cash and cash equivalents |
237,633 |
-2,934,443 |
|
|
Add: |
Balance of cash and cash equivalents |
|||
at the beginning of the period |
4,350,873 |
7,030,857 |
|
|
|
|
|
|
|
|
6. |
Balance of cash and cash equivalents |
||
|
|
at the end of the period |
4,588,506 |
4,096,414 |
|
|
|
|
|
|
|
|
|
Company Legal |
Person-in-charge |
Head of Accounting |
|
|
Representative: |
of Accounting: |
Department: |
|
|
Xiong Weiping |
Chen Jihua |
Lu Dongliang |
|
|
|
|
|
|
By order of the Board of |
|
Aluminum Corporation of China Limited* |
|
Xiong Weiping |
|
Chairman and CEO |
|
Beijing, the PRC |
25 October 2010 |
As at the date of this announcement, the members of the Board of Directors comprise Mr. Xiong Weiping, Mr. Luo Jianchuan, Mr. Chen Jihua and Mr. Liu Xiangmin (Executive Directors); Mr. Shi Chungui and Mr. Lv Youqing (Non-executive Directors); Mr. Zhang Zhuoyuan, Mr. Wang Mengkui and Mr. Zhu Demiao (Independent Non-executive Directors). |
* For identification purpose only |
About the Company |
|
Our contact information of this release is: |
|
* |
Business address: No. 62 North Xizhimen Street, Haidian District, Beijing, People's Republic of China, 100082 |
* |
Telephone number: (86-10) 8229 8103 |
* |
Website: http://www.chalco.com.cn |
* |
Contact person: Liu Qiang, Company Secretary |