Chalco reports record-high H1 net profit

During the same period, the company's total profit grew by 2.16% from H1 2024 to Yuan 13.2 billion, while its net profit attributable to shareholders edged up by 0.81% on year to Yuan 7.1 billion. Both total profit and net profit reached record highs for a first-half period, Chalco said in its mid-year report.

Although its net profit growth was a modest 0.81%, Chalco's Yuan 7.1 billion in earnings was the highest among the 25 Chinese aluminum companies that had reported H1 profit gains by September 1, Mysteel Global noted. In addition, Chalco was the only producer with a first-half operating revenue exceeding Yuan 100 billion.

The increases in revenue and profit were driven primarily by higher production and sales volumes of its key products – alumina and primary aluminum – during the reporting period, the company explained.

Chalco's output of metallurgical-grade alumina reached 8.6 million tonnes during January-June this year, up by 4.88% from the same period in 2024. Its production of non-metallurgical grade (chemical grade) alumina rose marginally, increasing by 0.48% on year to 2.08 million tonnes.

Of the total metallurgical-grade alumina it produced during the first six months, 3.32 million tonnes or 38.6% was sold to external buyers, with the volume representing a 4.1% on-year rise.

Meanwhile, the company's primary aluminum production climbed by 9.37% from a year earlier to 3.97 million tonnes in H1 2025. The volume of primary aluminum sold externally accounted for 3.95 million tonnes or 99.5% of its total output, marking a 10.05% on-year increase.

Beyond its core alumina and aluminum businesses, Chalco also operates in the energy sector, covering coal mining, coal-fired power generation, wind and photovoltaic power. Coal production in H1 totalled 6.61 million tonnes, up by 3.6% from the same period last year.

Looking ahead, Chalco has set full-year 2025 production targets of 16.81 million tonnes for metallurgical-grade alumina, 4.46 million tonnes for chemical grade, and 7.8 million tonnes for primary aluminum.

Founded in September 2001, Chalco was listed on both the Hong Kong and New York stock exchanges during the same year, and later on the Shanghai Stock Exchange in 2007, before delisting from New York in 2024.

The aluminum giant operates around 30 major subsidiaries, associates, and joint ventures worldwide. Chalco's controlling shareholder is Aluminum Corporation of China (Chinalco), which holds a 32.43% equity interest in the company. Chinalco is wholly owned by the State-owned Assets Supervision and Administration Commission of the State Council, according to its 2024 annual report. 

Written by Iris Pang, pangjunyu@mysteel.com