Aluminum Corporation of China Limited (CHALCO) reported its unaudited interim results for the six months ended 30 June 2026, posting a sharp rebound in profitability amid firmer aluminium prices and sustained cost discipline.
Key financial highlights • Revenue rose 7.74% year on year to RMB 125.41 billion. • Net profit attributable to shareholders surged 67.91% to RMB 11.87 billion; basic EPS reached RMB 0.693. • Operating cash flow strengthened 84.91% to RMB 26.24 billion. • Total profit increased to RMB 26.23 billion, while the asset-liability ratio declined to 42.76%, 3.25 percentage points lower than end-2025.
Dividend The board declared a cash interim dividend of RMB 0.276 per share (tax inclusive), equal to approximately RMB 4.74 billion and 39.88% of first-half attributable profit. Payment is scheduled on or before 23 October 2026.
Segment performance • Primary Aluminium: revenue RMB 90.93 billion (+19.75%*); segment profit RMB 26.62 billion (+228.0%*), supported by higher market prices and lower unit costs. • Alumina: revenue RMB 23.67 billion (-28.8%*); segment recorded a RMB 0.82 billion loss as alumina prices retreated. • Marketing: revenue RMB 105.16 billion (+3.1%), profit RMB 1.06 billion. • Energy: revenue RMB 4.04 billion (+3.7%), profit RMB 0.09 billion amid higher depreciation and coal expenses. *YoY comparisons use disclosed 1H25 segment data.
Operational metrics • Primary aluminium output reached 4.02 million tonnes (+1.26%). • Metallurgical-grade alumina output fell to 7.38 million tonnes (-14.19%), while refined alumina rose 12.50% to 2.34 million tonnes. • Net operating cash inflow climbed to RMB 26.24 billion, reflecting tighter working-capital management.
Capital structure and investment • Interest-bearing financing decreased, lowering financial expenses and improving gearing. • First-half capex totalled RMB 3.45 billion, focused on energy-saving upgrades, resource development and R&D. • Major projects advancing include the Guinea alumina project (US$1 billion), Dalian coastal alumina project and a 2×660 MW coal-fired plant in Ningxia.
Outlook Management will continue lean-cost initiatives, optimise procurement and sales strategies, and prioritise cash conversion in the second half. The company reiterated its commitment to capacity discipline, green transition and overseas resource expansion while maintaining a conservative balance-sheet stance.