Chinese aluminum giant revenue hits fresh high in H1

Source: Xinhua| 2019-07-22 15:42:15|Editor: Li Xia
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BEIJING, July 22 (Xinhua) -- China's largest aluminum producer, Aluminum Corporation of China (Chinalco), saw its half-year revenue reach a record high of over 170 billion yuan (around 24.7 billion U.S. dollars) in the first half of 2019.

The reading was up 26.5 percent year on year, while the company achieved a year-on-year increase of 31.8 percent in its H1 profits, with net profit up over 40 percent from a year ago, Chinalco reported at its mid-year work conference.

Facing shrinking profit margins and downward pressure of the industry, the world-leading nonferrous enterprise remained profitable, reporting growth in all of its major business segments, the company said.

The state-owned enterprise attributed the gains to bold reforms in improving its growth quality, and opening a new market via the development of high value-added products.

Chinalco-owned Aluminum Corporation of China Limited saw its half-year sales of high purity aluminum and fine alumina up 40 percent and 9 percent, respectively, as a world-leading supplier of aluminum products.