China's Aluminum industry gets off to a good start with 46.11% rise in net profit
China's Aluminum industry gets off to a good start with 46.11% rise in net profit
On April 29, Aluminum Corporation of China Limited (hereinafter referred to as "Aluminum of China") released the first quarter results report of 2019, and the profit momentum was not reduced, achieving a "good start" in the first quarter. Quarterly report shows that the operating income of China Aluminum industry 44.1 billion yuan in the first quarter, an increase of 20.07%; Net profit attributable to shareholders of listed companies was 445 million yuan, an increase of 46.11%.
In 2018, China Aluminum continued to become stronger and better, achieved better than the market, better than peers, and was favored by many domestic and foreign investors. Jpmorgan upgraded Chinalco's A-share rating to "overweight" from "neutral", with A price target of 20 per cent upside. Clsa said in a report that the target price of Chalco's Hong Kong shares rose to HK $3.4 from HK $3, giving it an "outperform" rating, Bank of America Merrill Lynch upgraded Chalco's Hong Kong shares to "buy", and Central China Securities maintained an "overweight" investment rating.
According to insiders, in 2019, China Aluminum Industry in accordance with the "consolidation, enhancement, promotion, smooth" eight-character policy, continue to supply side structural reform as the main line, hard to practice internal strength, improve quality and efficiency, through the full implementation of the "331958" cost reduction and efficiency special action, focus on promoting the "three down three up", that is, the implementation of production cost reduction, management cost reduction, human resources optimization allocation cost reduction. To science and technology to benefit, to investment to benefit, to the market to benefit, continue to consolidate cost competitive advantage, improve the scientific and technological content of products, and promote the development of the value chain to the middle and high end.
At the same time, the reporter learned that in order to implement the work idea of "low cost, high quality, excellent mechanism and good efficiency", China Aluminum continued to increase management reform and innovation, the first quarter in 2 functional departments and 10 entity enterprises to expand the pilot management reform, the internal market competitiveness ranking behind the enterprises to implement transformation and upgrading, and continue to optimize the industrial structure layout. Stimulate the vitality of enterprises and accumulate momentum for subsequent development.
The first quarter is the traditional off-season of consumption, at the same time by the economic downward pressure, aluminum prices year-on-year shock fall, rising costs and other factors, to a certain extent, the overall profit margin of the aluminum industry. Institutional analysis, with the arrival of the consumption season, the industry market is expected to improve, China's aluminum industry as the industry leader, profitability will continue to improve.
Wuhushan Industry Area, Qingkou Investment Zone, Fuzhou, Fujian, China
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