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 April 2013
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 April 26, 2013 |
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. |
(Stock Code: 2600) 2013 FIRST QUARTERLY REPORT |
This announcement is made by Aluminum Corporation of China Limited* (the "Company" or, together with its subsidiaries, the "Group") pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. |
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1 |
IMPORTANT NOTICE |
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1.1 |
The board of directors, the supervisory committee, the directors, supervisors and senior management of the Company guarantee that this report contains no false representation, misleading statement or material omission. All of them jointly and severally accept responsibility for the truthfulness, accuracy and completeness of the contents of this report. |
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1.2 |
All the directors of the Company attended the Board meeting. |
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1.3 |
The first quarterly financial report of the Company has not been audited. |
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1.4 |
Name of Person-in-charge of the Company |
Xiong Weiping |
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Name of Person-in-charge of Accounting |
Xie Weizhi |
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Name of Head of the Accounting Department |
Lu Dongliang |
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Xiong Weiping, Person-in-charge of the Company, Xie Weizhi, 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 |
COMPANY PROFILE |
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2.1 |
Principal accounting information and financial indicators |
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Currency: RMB |
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Change from |
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The end of the |
The end of the |
the end of |
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reporting period |
previous year |
the previous year |
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(%) |
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Total assets (Thousand RMB) |
216,015,714 |
175,016,882 |
23.43 |
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Owner's equity (or shareholders' equity) |
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(Thousand RMB) |
42,838,767 |
43,835,118 |
-2.27 |
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Net assets per share attributable to shareholders |
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of the Company (RMB per share) |
3.17 |
3.24 |
-2.16 |
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From the beginning |
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of the year |
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to the end of |
Change from |
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the reporting |
the same period |
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period |
last year |
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(%) |
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Net cash flow from operating activities (Thousand RMB) |
-1,091,020 |
Net outflow |
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decreased by 46.27% |
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Net cash flow per share generated from operating activities (RMB per share) |
-0.08 |
Net outflow |
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decreased by 46.27% |
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From the beginning |
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of the year to |
Change from |
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The reporting |
the end of the |
the same period |
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period |
reporting period |
last year |
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(%) |
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Net profit attributable to shareholders of the Company |
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(Thousand RMB) |
-975,040 |
-975,040 |
Loss reduction of 10.42% |
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Basic earnings per share (RMB per share) |
-0.07 |
-0.07 |
Loss reduction of 10.42% |
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Basic profit per share after extraordinary gains and losses |
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(RMB per share) |
-0.13 |
-0.13 |
N/A |
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Diluted earnings per share (RMB per share) |
-0.07 |
-0.07 |
Loss reduction of 10.42% |
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Return on net assets (weighted average) (%) |
-2.28 |
-2.28 |
Decreased by 0.14 |
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percentage point |
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Return on net assets after extraordinary gains and losses |
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Decreased by 1.82 |
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(weighted average) (%) |
-4.09 |
-4.09 |
percentage points |
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Deducting the gains and losses arising from extraordinary items and amount: |
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Unit: '000 Currency: RMB |
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Items |
Amount |
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Gains and losses from disposal of non-current assets |
-4,493 |
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Government subsidies included in the gains and losses for the period (excluding government subsidies closely |
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related to the ordinary business of the Company and are granted on an ongoing basis under |
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the state's policies according to certain standard amount or quantity) |
337,113 |
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Profit arising from investment cost for acquisition of a subsidiary, an associate and a joint venture |
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by the Company being less than its share of fair value of identifiable net assets of the investee on acquisition |
578,218 |
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Except for the hedging business that is related to the ordinary business of the Company, the fair value gains |
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or losses arising from held-for-trading financial assets and liabilities and investment income from disposing |
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held-for-trading financial assets and liabilities and available-for-sale financial assets |
-34,853 |
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Written back of the provision for impairment of |
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accounts receivable that is individually tested for impairment |
4,251 |
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Other non-operating income and expenses other than above items |
2,941 |
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Income tax effect |
-81,552 |
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Minority interests effect (after tax) |
-24,725 |
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Total |
776,900 |
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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 |
526,111 |
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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 |
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not subject |
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to trading |
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moratorium held |
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as at the end |
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Name of shareholders (in full) |
of the period |
Class |
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Aluminum Corporation of China |
5,214,407,195 |
RMB denominated ordinary shares |
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HKSCC Nominees Limited |
3,924,987,330 |
Overseas listed foreign shares |
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China Cinda Assets Management Corporation |
800,759,074 |
RMB denominated ordinary shares |
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China Construction Bank Corporation Limited |
609,146,645 |
RMB denominated ordinary shares |
Guokai Financial Limited Company |
415,168,145 |
RMB denominated ordinary shares |
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Baotou Aluminum (Group) Co., Ltd. |
325,767,795 |
RMB denominated ordinary shares |
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Lanzhou Aluminum Factory |
79,472,482 |
RMB denominated ordinary shares |
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Guizhou Provincial Materials Development and Investment Corporation |
59,000,000 |
RMB denominated ordinary shares |
Guangxi Investment Group Co., Ltd. |
39,259,793 |
RMB denominated ordinary shares |
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Bank of China Limited - Harvest Shanghai |
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Shenzhen 300 ETF Index Securities Investment Fund |
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() |
19,187,944 |
RMB denominated ordinary shares |
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. |
Business tax and surcharges increased by 75%, mainly attributable to the rising turnover tax deriving from the improved net income or expense from other operations of the Group. |
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2. |
Financial expenses increased by 41%, mainly attributable to the larger size of interest-bearing debts from last year resulting from the new incorporation of the consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group. |
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3. |
Loss on asset impairment increased by 8589%, mainly attributable to the increase in the provision for inventory impairment following the lower price of major products of the Group at the end of the period. |
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4. |
Loss on fair value changes increased by 464%, mainly attributable to the increasing floating loss on fair value changes arising from futures contracts held by the Group. |
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5. |
Investment income increased by 80%, mainly attributable to the increase in gains from associated companies and joint ventures resulting from the new incorporation of the consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group. |
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6. |
Non-operating income increased by 1289%, mainly attributable to the higher fair value of the mining rights over the considerations engendered as a result of acquiring China Aluminum Ningxia Energy Group Co., Ltd. by the Group. |
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7. |
Non-operating expenses decreased by 43%, mainly attributable to less donations made by the Group. |
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8. |
Total profit increased by 33%, mainly attributable to the enhanced gross profit margin resulting from the strict control on costs, fees and expenses as well as the expansion of income sources. |
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9. |
Income tax expenses increased by 89%, mainly attributable to the non-provision of deferred income tax assets for most of the losses occurred during the period. |
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10. |
Minority interests increased by 177%, mainly attributable to the profit increase of subsidiaries controlled by the Group. |
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11. |
Held-for-trading financial assets decreased by 80%, mainly attributable to less floating profit on the positions of the futures and forward foreign exchange contracts of the Group. |
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12. |
Notes receivables increased by 46%, mainly attributable to the tightening national currency policy, which increased the use of bank's acceptance notes in settlement. |
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13. |
Accounts receivables increased by 219%, mainly attributable to the extension of the credit period as a result of the tightening national currency policy, keen market competition and the increase in trade volume, as well as the new incorporation of the consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd.. |
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14. |
Prepayments increased by 65%, mainly attributable to the prepayments for certain procurement with a view to expanding trading channels. |
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15. |
Interest receivable increased by 2834%, mainly attributable to the increasing accrued interests resulted from the entrusted loans to associates. |
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16. |
Other receivables increased by 40%, mainly attributable to the additional entrusted loans to associates. |
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17. |
Other current assets increased by 52%, mainly attributable to the new incorporation of the consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group, which increased deductible input tax under value-added tax. |
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18. |
Investment properties increased from nil at the beginning of the period, mainly attributable to the new incorporation of the consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group. |
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19. |
Construction materials increased by 119%, mainly attributable to new incorporation of the consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd.. |
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20. |
Intangible assets increased by 156%, mainly attributable to the new incorporation of the consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group, which increased raising the number of coal mining rights. |
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21. |
Financial liabilities held for trading increased by 288%, mainly attributable to the increased floating loss on the positions of the futures and forward foreign exchange contracts of the Group. |
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22. |
Notes payable increased by 186%, mainly attributable to the tightening of national currency policy, resulting in a proper increase of notes used in settling procurement. |
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23. |
Accounts payables increased by 46%, mainly attributable to the tightening of national currency policy, resulting in the proper extension of credit period in procurement. |
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24. |
Advances from customers increased by 74%, mainly attributable to the portion of payment received in advance based on clients' credibility. |
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25. |
Accrued interest increased by 77%, mainly attributable to the larger size of interest-bearing debts of the Group. |
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26. |
Dividends payable increased by 71%, mainly attributable to the cash dividends payable accounted by subsidiaries under the Group. |
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27. |
Long-term loans increased by 85%, mainly attributable to the new incorporation of consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group, making additional long-term bank loans. |
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28. |
Special payables increased by 108%, mainly attributable to the government subsidies added by the new incorporation of consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group. |
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29. |
Projected liabilities increased from nil at the beginning of the period, mainly attributable to the projected mining rights considerations payable upon acquisition of China Aluminum Ningxia Energy Group Co., Ltd.. |
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30. |
Other non-current liabilities increased by 58%, mainly attributable to the additional deferred income arising from the new incorporation of consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group. |
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31. |
Minority interests increased by 39%, mainly attributable to minority interests added by the new incorporation of consolidated statements of China Aluminum Ningxia Energy Group Co., Ltd. into the Group. |
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32. |
For the first quarter of 2013, the Group recorded a revenue of RMB34.213 billion. Included in its total profit was a loss of RMB948 million, representing a reduction of loss of RMB466 million or 32.96% from the loss of RMB1.414 billion for the corresponding period last year. Vested in the net profit attributable to owners of the parent company was a loss of RMB975 million, representing a reduction of loss of RMB113 million or 10.42% from the loss of RMB1.088 billion for the corresponding period last year. |
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33. |
For the first quarter of 2013, the Group had increased its operating gross profit by 37% compared to the corresponding period last year, of which, cost reduction of major products ranged between 6% and 9%, cutting the loss by approximately RMB1.4 billion. However, price reduction of major products ranged between 5% and 7% compared to the corresponding period last year, reducing the profit by approximately RMB1.3 billion. |
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34. |
For the first quarter of 2013, the Group continued to increase its effort in controlling the production and operating costs. During the period, selling expenses amounted to RMB458 million, representing an increase of RMB12 million from RMB446 million for the same period last year. Upon deduction of the additional RMB14 million resulting from the incorporation of China Aluminum Ningxia Energy Group Co., Ltd., such expenses decreased slightly as compared with the same period last year. Administrative expenses for the period amounted to RMB645 million, representing an increase of RMB23 million as compared with RMB622 million for the same period last year. Upon deduction of additional RMB80 million resulting from the incorporation of China Aluminum Ningxia Energy Group Co., Ltd., such expenses decreased by RMB57 million as compared with the same period last year. Finance expenses for the period amounted to RMB1.518 billion, representing an increase of RMB442 million as compared with RMB1.076 billion for the same period of last year. Upon deduction of additional RMB277 million resulting from the incorporation of China Aluminum Ningxia Energy Group Co., Ltd., such expenses increased by RMB165 million as compared with the same period last year, mainly attributable to the increase in the size of interest-bearing debts of the Group, offset by a decrease of 0.43 percentage point in the weighted average interest rate in the end of the first quarter of 2013 as compared with the end of the first quarter of last year. |
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3.2 |
Progress of significant events and effects thereof 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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1. |
During the A share issue of the Company in 2007, Aluminum Corporation of China ("Chinalco") undertook that Chinalco would arrange to dispose of its aluminum fabrication business, or the Company would acquire the aluminum fabrication business from Chinalco, and acquire the pseudo-boehmite business from Chinalco within a certain period of time following the listing of the Company's A shares. |
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In 2008, the Company successfully bid for the five aluminum fabrication enterprises under the control of Chinalco in an open tender process through the equity exchange. Since the market conditions for pseudo-boehmite are immature, Chinalco does not propose to inject its pseudo-boehmite business to the Company's portfolio. When conditions become mature, Chinalco will continue to duly complete the matters undertaken within the time limit. |
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2. |
On 22 August 2011, the Company issued a letter of undertaking of Aluminum Corporation of China Limited* to resolve the horizontal competition with Jiaozuo Wanfang Aluminum Company Limited in the aluminum business ( |
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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 last year and the reason thereof |
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Applicable |
Not Applicable |
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3.5 |
Implementation of cash dividend policy during the reporting period |
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The terms for the distribution of cash dividend were prescribed in the Articles of Association of the Company: 1) the Company takes full account of the returns to investors and distributes dividends to shareholders every year according to the prescribed ratio of distributable profit for the prevailing year; 2) the Company upkeeps a continuous and stable profit distribution policy whilst considering the long-term interest of the Company, the overall interest of its shareholders as a whole and the sustainable development of the Company; 3) cash dividends shall be considered first when the Company distributes dividends. |
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No final dividend was distributed during the reporting period. |
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Aluminum Corporation of China Limited* |
Legal representative: Xiong Weiping |
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26 April 2013 |
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4 |
APPENDICES |
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4.1 |
Consolidated Balance Sheet |
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As at 31 March 2013 |
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Prepared by: Aluminum Corporation of China Limited* |
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Unit: Thousand RMB, Unaudited |
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Items |
Closing balance |
Opening balance |
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Current assets: |
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Cash and cash equivalents |
12,260,366 |
10,191,608 |
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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 |
1,754 |
8,983 |
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Bills receivable |
1,743,292 |
1,190,643 |
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Accounts receivable |
4,546,464 |
1,425,219 |
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Prepayments |
7,415,895 |
4,481,005 |
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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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Interest receivable |
36,602 |
1,248 |
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Dividends receivable |
189,638 |
189,638 |
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Other receivables |
3,545,987 |
2,530,189 |
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Purchases of resold financial assets |
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Inventories |
29,105,785 |
25,596,476 |
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Non-current assets due within one year |
28,000 |
28,000 |
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Other current assets |
5,141,209 |
3,373,007 |
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Total current assets |
64,014,992 |
49,016,016 |
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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 |
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Held-to-maturity investments |
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Long-term receivables |
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Long-term equity investments |
18,207,573 |
19,213,415 |
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Investment properties |
7,443 |
0 |
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Fixed assets |
97,292,807 |
81,675,584 |
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Construction in progress |
18,464,278 |
14,382,407 |
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Construction materials |
415,572 |
190,100 |
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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 |
11,519,148 |
4,491,491 |
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Development expenses |
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Goodwill |
2,362,735 |
2,362,735 |
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Long-term deferred expenditures |
311,198 |
277,702 |
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Deferred income tax assets |
2,311,933 |
2,116,986 |
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Other non-current assets |
1,108,035 |
1,290,446 |
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Total non-current assets |
152,000,722 |
126,000,866 |
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Total assets |
216,015,714 |
175,016,882 |
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Current liabilities: |
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Short-term borrowings |
46,660,575 |
40,313,218 |
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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 |
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other financial institutions |
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Held-for-trading financial liabilities |
49,177 |
12,662 |
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Bills payable |
6,232,202 |
2,175,710 |
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Accounts payable |
7,144,644 |
4,883,484 |
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Payments received in advance |
2,231,083 |
1,278,746 |
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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 |
475,639 |
400,807 |
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Taxes payable |
443,211 |
452,763 |
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Interest payable |
968,929 |
548,381 |
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Dividends payable |
211,905 |
123,707 |
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Other payables |
6,001,894 |
6,045,854 |
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Reinsurance accounts payable |
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Deposits for insurance contracts |
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Agent brokerage fee |
||||
Agent underwriting fee |
||||
Non-current liabilities due within one year |
10,475,637 |
10,946,325 |
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Other current liabilities |
17,681,830 |
16,671,754 |
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Total current liabilities |
98,576,726 |
83,853,411 |
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Non-current liabilities: |
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Long-term borrowings |
36,768,894 |
19,910,787 |
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Debentures payable |
20,708,269 |
16,724,865 |
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Long-term payables |
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Special payables |
242,954 |
116,979 |
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Projected liabilities |
2,030,812 |
0 |
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Deferred income tax liabilities |
||||
Other non-current liabilities |
1,008,005 |
639,690 |
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Total non-current liabilities |
60,758,934 |
37,392,321 |
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Total liabilities |
159,335,660 |
121,245,732 |
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Owner's equity (or shareholder's equity): |
||||
Paid-up capital (or share capital) |
13,524,488 |
13,524,488 |
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Capital reserve |
13,987,858 |
13,987,858 |
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Less: Treasury stock |
||||
Special reserve |
115,118 |
92,193 |
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Surplus reserve |
5,867,557 |
5,867,557 |
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General risk provision |
||||
Retained profit |
9,405,364 |
10,380,404 |
||
Foreign currency translation differences |
-61,618 |
-17,382 |
||
Total owner's equity attributable to |
||||
the parent company |
42,838,767 |
43,835,118 |
||
Minority interests |
13,841,287 |
9,936,032 |
||
Total owner's equity |
56,680,054 |
53,771,150 |
||
|
|
|||
Total liabilities and owner's equity |
216,015,714 |
175,016,882 |
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|
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Legal Representative |
Person-in-charge |
Head of Accounting |
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of the Company: |
of Accounting: |
Department: |
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Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
||
Balance Sheet of the Parent Company |
||
As at 31 March 2013 |
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Prepared by: Aluminum Corporation of China Limited* |
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Unit: Thousand RMB, Unaudited |
||
Items |
Closing balance |
Opening balance |
||
Current assets: |
||||
Cash and cash equivalents |
3,871,523 |
4,939,505 |
||
Held-for-trading financial assets |
||||
Bills receivable |
581,689 |
651,601 |
||
Accounts receivable |
2,184,209 |
1,516,759 |
||
Prepayments |
1,265,687 |
1,145,561 |
||
Interest receivable |
32,608 |
5,814 |
||
Dividends receivable |
240,348 |
240,348 |
||
Other receivables |
9,510,099 |
7,812,881 |
||
Inventories |
13,277,583 |
12,917,041 |
||
Non-current assets due within one year |
28,000 |
28,000 |
||
Other current assets |
918,524 |
992,623 |
||
|
|
|||
Total current assets |
31,910,270 |
30,250,133 |
||
|
|
|||
Non-current assets: |
||||
Financial assets available for sale |
||||
Held-to-maturity investments |
||||
Long-term receivables |
||||
Long-term equity investments |
29,815,764 |
26,096,514 |
||
Investment properties |
||||
Fixed assets |
51,767,755 |
52,636,716 |
||
Construction in progress |
6,902,619 |
6,339,611 |
||
Construction materials |
64,440 |
60,017 |
||
Disposal of fixed assets |
||||
Biological assets for production |
||||
Oil and gas assets |
||||
Intangible assets |
2,281,040 |
2,319,689 |
||
Development expenses |
||||
Goodwill |
2,330,945 |
2,330,945 |
||
Long-term deferred expenditures |
69,168 |
70,829 |
||
Deferred income tax assets |
1,511,195 |
1,525,206 |
||
Other non-current assets |
322,430 |
322,430 |
||
Total non-current assets |
95,065,356 |
91,701,957 |
||
|
|
|||
Total assets |
126,975,626 |
121,952,090 |
||
|
|
|||
Current liabilities: |
||||
Short-term borrowings |
22,470,000 |
19,370,000 |
||
Held-for-trading financial liabilities |
0 |
11,222 |
||
Bills payable |
3,600 |
0 |
||
Accounts payable |
3,030,797 |
2,900,794 |
||
Payments received in advance |
392,059 |
170,979 |
||
Staff remuneration payables |
258,610 |
257,796 |
||
Taxes payable |
253,742 |
230,190 |
||
Interests payable |
753,638 |
421,281 |
||
Dividends payable |
||||
Other payables |
2,380,397 |
3,598,165 |
||
Non-current liabilities due within one year |
8,321,342 |
8,321,342 |
||
Other current liabilities |
17,669,510 |
16,669,968 |
||
|
|
|||
Total current liabilities |
55,533,695 |
51,951,737 |
||
|
|
|||
Non-current liabilities: |
||||
Long-term borrowings |
8,844,902 |
9,147,902 |
||
Debentures payable |
18,910,491 |
15,927,504 |
||
Long-term payables |
0 |
|||
Special payables |
96,880 |
96,880 |
||
Projected liabilities |
||||
Deferred income tax liabilities |
||||
Other non-current liabilities |
479,205 |
490,292 |
||
Total non-current liabilities |
28,331,478 |
25,662,578 |
||
|
|
|||
Total liabilities |
83,865,173 |
77,614,315 |
||
|
|
|||
Owner's equity (or shareholder's equity): |
||||
Paid-up capital (or share capital) |
13,524,488 |
13,524,488 |
||
Capital reserve |
14,401,214 |
14,401,214 |
||
Less: Treasury stock |
||||
Special reserve |
45,583 |
25,686 |
||
Surplus reserve |
5,867,557 |
5,867,557 |
||
General risk provision |
||||
Retained profit |
9,271,611 |
10,518,830 |
||
|
|
|||
Total owner's equity |
||||
(or shareholder's equity) |
43,110,453 |
44,337,775 |
||
|
|
|||
Total liabilities and owners' equity |
||||
(or shareholder's equity) |
126,975,626 |
121,952,090 |
||
|
|
|||
Legal Representative |
Person-in-charge |
Head of Accounting |
||
of the Company: |
of Accounting: |
Department: |
||
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
||
4.2 |
Consolidated Income Statement |
|
January to March 2013 |
||
Prepared by: Aluminum Corporation of China Limited* |
||
Unit: Thousand RMB, Unaudited |
||
Amount for |
||||
Amount for |
the previous |
|||
Items |
the period |
period |
||
I. |
Total operating revenue |
34,213,296 |
33,589,657 |
Including: |
Operating revenue |
34,213,296 |
33,589,657 |
|||
Interest income |
||||||
Premiums earned |
||||||
Handling charges and commission income |
||||||
II. |
Total cost of operations |
36,319,071 |
35,187,086 |
Including: |
Operating cost |
33,404,017 |
32,997,696 |
|||
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 |
83,233 |
47,485 |
||||
Selling expenses |
457,625 |
446,125 |
||||
Administrative expenses |
645,200 |
622,358 |
||||
Finance expenses |
1,517,509 |
1,075,913 |
||||
Loss on assets impairment |
211,487 |
-2,491 |
||||
Add: |
Gains on fair value changes (loss stated with "-") |
-28,543 |
-5,058 |
|||
Investment income (loss stated with "-") |
234,330 |
130,168 |
Including: |
Investment income |
||||||
from associated companies and |
|||||||
joint ventures |
198,861 |
97,518 |
Foreign currency exchange gains (loss stated with "-") |
||||||
III. |
Operating profit (loss stated with "-") |
-1,899,988 |
-1,472,319 |
Add: |
Non-operating income |
958,079 |
68,956 |
|||
Less: |
Non-operating expenses |
5,929 |
10,440 |
Including: |
Loss from disposal of non-current assets |
41 |
0 |
||||
IV. |
Total profit (total loss stated with "-") |
-947,838 |
-1,413,803 |
Less: |
Income tax expenses |
-28,995 |
-252,717 |
|||
V. |
Net profit (net loss stated with "-") |
-918,843 |
-1,161,086 |
||
Net profit attributable to owners of the parent company |
-975,040 |
-1,088,439 |
|||
Minority interests |
56,197 |
-72,647 |
|||
VI. |
Earnings per share: |
(i) |
Basic earnings per share |
-0.07 |
-0.08 |
|||
(ii) |
Diluted earnings per share |
-0.07 |
-0.08 |
|||
VII. |
Other comprehensive income |
-44,237 |
6,664 |
||
VIII. |
Total comprehensive income |
-963,080 |
-1,154,422 |
||
Total comprehensive income attributable to owners of |
|||||
the parent company |
-1,019,277 |
-1,081,775 |
|||
Total comprehensive income attributable to |
|||||
minority shareholders |
56,197 |
-72,647 |
|||
Legal Representative |
Person-in-charge |
Head of Accounting |
||
of the Company: |
of Accounting: |
Department: |
||
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
||
Income Statement of the Parent Company |
||
January to March 2013 |
||
Prepared by: Aluminum Corporation of China Limited* |
||
Unit: Thousand RMB, Unaudited |
||
Amount for |
||||
Amount for |
the previous |
|||
Items |
the period |
period |
||
I. |
Operating revenue |
11,281,182 |
11,644,680 |
Less: |
Operating costs |
11,178,820 |
11,779,910 |
|||
Business tax and surcharges |
52,139 |
30,485 |
||||
Selling expenses |
253,389 |
257,492 |
||||
Administrative expenses |
319,102 |
369,806 |
||||
Finance expenses |
773,650 |
629,370 |
||||
Loss on assets impairment |
99,909 |
-2,490 |
||||
Add: |
Gains on fair value changes |
|||||
(loss stated with "-") |
11,222 |
-2,461 |
||||
Investment income (loss stated with "-") |
844 |
41,023 |
Including: |
Investment income from associated |
||||||
companies and joint ventures |
-21,465 |
2,100 |
|||||
II. |
Operating profit (loss stated with "-") |
-1,383,761 |
-1,381,331 |
Add: |
Non-operating income |
154,440 |
27,304 |
|||
Less: |
Non-operating expenses |
3,888 |
9,720 |
Including: |
Loss from disposal of non-current assets |
4 |
4,381 |
||||
III. |
Total profit (total loss stated with "-") |
-1,233,209 |
-1,363,747 |
Less: |
Income tax expenses |
14,011 |
-270,925 |
|||
IV. |
Net profit (net loss stated with "-") |
-1,247,220 |
-1,092,822 |
||
V. |
Earnings per share: |
(i) |
Basic earnings per share |
|||||
(ii) |
Diluted earnings per share |
|||||
VI. |
Other comprehensive income |
||||
VII. |
Total comprehensive income |
-1,247,220 |
-1,092,822 |
||
Legal Representative |
Person-in-charge |
Head of Accounting |
||
of the Company: |
of Accounting: |
Department: |
||
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
||
4.3 |
Consolidated Cash Flow Statement |
|
January to March 2013 |
||
Prepared by: Aluminum Corporation of China Limited* |
||
Unit: Thousand RMB, Unaudited |
||
Amount for |
||||
Amount for |
the previous |
|||
Items |
the period |
period |
||
I. |
Cash flow from operating activities: |
||||
Cash received from product sales and rendering of services |
40,166,561 |
41,509,164 |
|||
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 |
40,360 |
6,133 |
|||
Other cash received relating to operating activities |
384,116 |
106,973 |
|||
Sub-total of cash inflow from operating activities |
40,591,037 |
41,622,270 |
|||
Cash paid for purchase of goods and receipt of services |
36,719,807 |
40,177,772 |
|||
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 |
1,904,542 |
1,835,916 |
|||
Taxes and surcharges paid |
583,207 |
943,196 |
|||
Other cash paid relating to operating activities |
2,474,501 |
695,881 |
|||
Sub-total of cash outflow from operating activities |
41,682,057 |
43,652,765 |
|||
|
|
||||
Net cash flow from operating activities |
-1,091,020 |
-2,030,495 |
|||
|
|
||||
II. |
Cash flows from investment activities: |
||||
Cash received from disposal of investments |
16,806 |
0 |
|||
Cash received from returns on investments |
269,242 |
85,540 |
|||
Net cash received from disposal of fixed assets, |
|||||
intangible assets and other long-term assets |
203,388 |
5,018 |
|||
Net cash received from disposal of subsidiaries |
|||||
and other operating entities |
|||||
Other cash received relating to investment activities |
31,846 |
18,776 |
|||
Sub-total of cash inflow from investment activities |
521,282 |
109,334 |
|||
Cash paid to acquire fixed assets, intangible assets |
|||||
and other long-term assets |
2,420,930 |
2,241,422 |
|||
Cash paid for investment |
234,412 |
490,000 |
|||
Net increase in pledged loans |
|||||
Net cash paid for acquisition of subsidiaries |
|||||
and other operating entities |
403,187 |
0 |
|||
Other cash paid relating to investment activities |
1,099,874 |
127,728 |
|||
Sub-total of cash outflow from investment activities |
4,158,403 |
2,859,150 |
|||
|
|
||||
Net cash flows from investment activities |
-3,637,121 |
-2,749,816 |
|||
III. |
Cash flow from financing activities: |
||||
Proceeds received from investments |
Including: |
Proceeds received by subsidiaries |
|||||
from minority shareholders' investment |
Cash received from borrowings |
20,884,209 |
25,240,588 |
|||
Cash received from issue of debentures |
5,971,500 |
2,000,000 |
|||
Other cash received relating to financing activities |
365,400 |
0 |
|||
Sub-total of cash inflow from financing activities |
27,221,109 |
27,240,588 |
|||
Cash paid for repayment |
18,100,772 |
17,131,398 |
|||
Cash paid for dividend and profit |
|||||
distribution or interest repayment |
1,569,160 |
804,686 |
Including: |
Dividend and profit paid |
|||||
by subsidiaries to minority shareholders |
Other cash paid relating to financing activities |
470,689 |
0 |
|||
Sub-total of cash outflow from financing activities |
20,140,621 |
17,936,084 |
|||
|
|
||||
Net cash flows from financing activities |
7,080,488 |
9,304,504 |
|||
|
|
||||
IV. |
Effect on cash and cash equivalents due to |
||||
change in foreign currency exchange rate |
-3,484 |
7,863 |
|||
V. |
Net increase in cash and cash equivalents |
2,348,863 |
4,532,056 |
Add: |
Balance of cash and cash equivalents at |
|||||
the beginning of the period |
9,063,593 |
11,644,741 |
||||
VI. |
Balance of cash and cash equivalents at |
||||
the end of the period |
11,412,456 |
16,176,797 |
|||
Legal Representative |
Person-in-charge |
Head of Accounting |
||
of the Company: |
of Accounting: |
Department: |
||
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
||
Cash Flow Statement of the Parent Company |
||
January to March 2013 |
||
Prepared by: Aluminum Corporation of China Limited* |
||
Unit: Thousand RMB, Unaudited |
||
Amount for |
||||
Amount for |
the previous |
|||
Items |
the period |
period |
||
I. |
Cash flow from operating activities: |
||||
Cash received from product sales and rendering of services |
13,117,368 |
13,978,147 |
|||
Refund of tax and levies received |
14,431 |
4,133 |
|||
Other cash received relating to operating activities |
174,676 |
43,432 |
|||
Sub-total of cash inflow from operating activities |
13,306,475 |
14,025,712 |
|||
Cash paid for purchase of goods and receipt of services |
12,342,654 |
12,668,162 |
|||
Cash paid to and on behalf of employees |
1,130,131 |
1,125,869 |
|||
Taxes and surcharges paid |
653,589 |
579,371 |
|||
Other cash paid relating to operating activities |
666,418 |
402,664 |
|||
Sub-total of cash outflow from operating activities |
14,792,792 |
14,776,066 |
|||
|
|
||||
Net cash flow from operating activities |
-1,486,317 |
-750,354 |
|||
|
|
||||
II. |
Cash flows from investment activities: |
||||
Cash received from disposal of investments |
|||||
Cash received from returns on investments |
12,160 |
23,695 |
|||
Net cash received from disposal of fixed assets, |
|||||
intangible assets and other long-term assets |
56,705 |
15,811 |
|||
Net cash received from disposal of subsidiaries |
|||||
and other operating entities |
|||||
Other cash received relating to investment activities |
0 |
15,228 |
|||
Sub-total of cash inflow from investment activities |
68,865 |
54,734 |
|||
Cash paid to acquire fixed assets, intangible |
|||||
assets and other long-term assets |
863,190 |
999,540 |
|||
Cash paid for investment |
583,000 |
1,023,110 |
|||
Net cash paid for acquisition of |
|||||
subsidiaries and other operating entities |
4,387,630 |
0 |
|||
Other cash paid relating to investment activities |
21,087 |
78,183 |
|||
Sub-total of cash outflow from investment activities |
5,854,907 |
2,100,833 |
|||
|
|
||||
Net cash flows from investment activities |
-5,786,042 |
-2,046,099 |
|||
|
|
||||
III. |
Cash flows from financing activities: |
||||
Proceeds received from investments |
|||||
Cash received from borrowings |
7,900,000 |
14,508,000 |
|||
Cash received from bond issue |
6,000,000 |
2,000,000 |
|||
Other cash received relating to financing activities |
365,400 |
0 |
|||
Sub-total of cash inflow from financing activities |
14,265,400 |
16,508,000 |
|||
Cash paid for repayment |
7,103,000 |
8,820,400 |
|||
Cash paid for dividend and profit |
|||||
distribution or interest repayment |
550,941 |
573,149 |
|||
Other cash paid relating to financing activities |
|||||
Sub-total of cash outflow from financing activities |
7,653,941 |
9,393,549 |
|||
|
|
||||
Net cash flows from financing activities |
6,611,459 |
7,114,451 |
|||
|
|
||||
IV. |
Effect on cash and cash equivalents due to |
||||
change in foreign currency exchange rate |
53 |
3,485 |
|||
V. |
Net increase in cash and cash equivalents |
-660,847 |
4,321,483 |
Add: |
Balance of cash and cash |
|||||
equivalents at the beginning of the period |
4,396,234 |
4,081,999 |
||||
VI. |
Balance of cash and cash equivalents at |
||||
the end of the period |
3,735,387 |
8,403,482 |
|||
Legal Representative |
Person-in-charge |
Head of Accounting |
||
of the Company: |
of Accounting: |
Department: |
||
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
||
As at the date of this announcement, the members of the Board of Directors comprise Mr. Xiong Weiping, Mr. Luo Jianchuan and Mr. Liu Xiangmin (Executive Directors); Mr. Shi Chungui and Mr. Lv Youqing and Mr. Liu Caiming (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 |