Aluminum Corp. of China Ltd.
(A joint stock limited company incorporated in the People’s Republic of China with limited liability)
(Stock Code: ACH) Document in pdf format: click here
OVERSEAS REGULATORY ANNOUNCEMENT AND PRICE SENSITIVE INFORMATION ANNOUNCEMENT ON ESTIMATED PROFIT DECREASE FOR THE FIRST HALF OF 2008
This announcement is issued pursuant to Rules 13.09(1) and 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
Aluminum Corporation of China Limited (the “
Company”) and the board of directors of the Company (the “Board”) jointly and severally warrant the truthfulness, accuracy and completeness of the information disclosed herein, and accept the responsibilities for any misrepresentation or misleading statement contained in or material omission from this announcement.
I. ESTIMATED CONSOLIDATED RESULTS FOR THE FIRST HALF OF 2008
1. Period for estimated results:
From 1 January 2008 to 30 June 2008
2. Estimated results:
Based on the initial calculation on its financial information for the first half of 2008 in accordance with the Accounting Standards for Business Enterprises issued by the Ministry of Finance of the PRC in 2006, the net profit (attributable to the equity holders of the Company) for the six months from 1 January 2008 to 30 June 2008 is estimated to decrease by over 50% as compared with the same period last year.
3. The estimated results are unaudited. Details of the financial information will be disclosed in interim report of the Company for the first half of 2008.
II. CONSOLIDATED RESULTS FOR THE FIRST HALF OF 2007 (COMPARATIVE FIGURES)
1. Net profit (attributable to the equity holders of the Company): RMB6.397 billion (determined in accordance with PRC GAAP).
2. Earnings per share: RMB0.53.
3. The consolidated results for the first half of 2007 disclosed above were audited in accordance with PRC GAAP.
III. REASONS FOR ESTIMATED PROFIT DECREASE
Since early 2008, the frozen weather and snow storms in most of the Southern, Northwestern and Southwestern parts of China had resulted in power supply shortage, resulting in temporary complete stoppage of production of certain enterprises of the Company, thereby affecting our production operations. Price hikes of raw materials and fuels including energy also increased our production cost noticeably as compared with the same period last year which led to the decrease in profits.
The Board of Directors
Aluminum Corporation of China Limited*
20 June 2008
By order of the Board of
Aluminum Corporation of China Limited*
Liu Qiang
Company Secretary
Beijing, PRC
20 June 2008
As of the date of this announcement, the members of the Board comprise of Mr. Xiao Yaqing, Mr. Luo Jianchuan, Mr. Chen Jihua and Mr. Liu Xiangmin (Executive Directors); Mr. Shi Chungui (Non-executive Director); Mr. Kang Yi, Mr. Zhang Zhuoyuan, Mr. Wang Mengkui and Mr. Zhu Demiao (Independent Non-executive Directors).
* For identification purpose only.
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