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 2014
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 29, 2014 |
By
/s/ Xu Bo
|
|
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. |
|
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) 2014 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. |
|
1. |
IMPORTANT NOTICE |
1.1 |
The board of directors, the supervisory committee, the directors, supervisors and senior management members of the Company guarantee the truthfulness, accuracy and completeness of this quarterly report, that it contains no false representation, misleading statement or material omission, and assume several and joint liabilities. |
|
1.2 |
All the directors of the Company attended the Board meeting and reviewed the quarterly report. |
|
1.3 |
Name of Person-in-charge of the Company |
Xiong Weiping |
|
Name of Person-in-charge of Accounting |
Xie Weizhi |
||
Name of Person-in-charge for the Accounting |
Lu Dongliang |
||
Department (head of the Accounting Department) |
|||
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, accuracy and completeness of the financial statements in this quarterly report. |
||
1.4 |
The financial statements in the first quarterly report of the Company have not been audited. |
|
2. |
PRINCIPAL FINANCIAL INFORMATION OF THE COMPANY AND THE CHANGES OF SHAREHOLDERS |
2.1 |
Principal financial information |
|
Unit:'000 Currency: RMB |
||
31 March 2014 |
31 December 2013 |
Increase/Decrease |
|||
(%) |
|||||
Total assets |
207,744,876 |
199,507,054 |
4.13 |
||
Net assets per share attributable |
|||||
to owners of the parent |
42,294,330 |
44,357,725 |
-4.65 |
||
2014 |
2013 |
||||
(January - March) |
(January - March) |
Increase/ Decrease |
|||
(%) |
|||||
Net cash flow from operating activities |
154,942 |
-1,091,020 |
N/A |
||
2014 |
2013 |
||||
(January - March) |
(January - March) |
Increase/ Decrease |
|||
(%) |
|||||
Revenue |
35,241,718 |
34,213,296 |
3.01 |
||
Profit attributable to owners of the parent |
-2,156,527 |
-975,040 |
N/A |
||
Profit attributable to owners of the parent |
|||||
after excluding extraordinary |
|||||
gains and losses |
-2,233,123 |
-1,751,940 |
N/A |
||
Weighted average rate of return |
|||||
on net assets (%) |
-5.10 |
-2.28 |
N/A |
||
Basic earnings per share (RMB per share) |
-0.16 |
-0.07 |
N/A |
||
Diluted earnings per share (RMB per share) |
-0.16 |
-0.07 |
N/A |
||
Deducting the gains and losses arising from extraordinary items and amount: |
||
Unit: '000 Currency: RMB |
||
2014 |
|||
(January - |
|||
Items |
March) |
||
Gains/(Losses) on disposal of non-current assets |
171 |
||
Government subsidies included in the gains and losses |
|||
for the reporting period (excluding government subsidies |
|||
closely related to the ordinary business of the Group and |
|||
are granted on an ongoing basis under |
|||
the state's policies according to |
|||
certain standard amount or quantity) |
62,226 |
||
Except for the hedging business that is related to the |
|||
ordinary business of the Group, the fair value gains |
|||
or losses arising from held-for-trading financial assets |
|||
and liabilities and investment income on disposing |
|||
held-for-trading financial assets and liabilities and |
|||
available-for-sale financial assets |
-38,376 |
||
Gains/(Losses) on external entrusted loans |
11,044 |
||
Other non-operating income and expenses other |
|||
than above items |
71,346 |
||
Income tax effect |
-21,987 |
||
Non-controlling interests effect (after tax) |
-7,828 |
||
|
|||
Total |
76,596 |
||
|
|||
2.2 |
Total number of shareholders, the top ten shareholders and the top ten shareholders not subject to trading moratorium as at the end of the reporting period |
|
Unit: Share |
||
Total number of shareholders |
499,331 |
||
Shareholding status of top ten shareholders |
||
Number |
|||||||
of shares |
Number |
||||||
Total |
held subject |
of shares |
|||||
Nature of |
Shareholding |
number of |
to trading |
pledged or |
|||
Name of shareholders |
shareholders |
percentage |
shares |
moratorium |
frozen |
||
(%) |
|||||||
Aluminum Corporation of China |
State-owned |
38.56 |
5,214,407,195 |
0 |
None |
||
HKSCC Nominees Limited |
Foreign legal |
29.02 |
3,924,887,434 |
0 |
Unknown |
||
person |
|||||||
China Cinda Asset |
State-owned |
4.44 |
600,000,000 |
0 |
None |
||
Management Co., Ltd. |
legal person |
||||||
() |
|||||||
China Construction Bank Corporation |
State-owned |
4.11 |
556,066,216 |
0 |
None |
||
legal person |
|||||||
China Development Bank |
State-owned |
3.07 |
415,168,145 |
0 |
None |
||
Capital Corporation Ltd. |
legal person |
||||||
() |
|||||||
Baotou Aluminum (Group) Co., Ltd. |
State-owned |
2.23 |
301,217,795 |
0 |
None |
||
legal person |
|||||||
Lanzhou Aluminum Factory |
State-owned |
0.59 |
79,472,482 |
0 |
None |
||
legal person |
|||||||
Shanghai Pudong Development Bank |
State-owned |
0.34 |
45,916,489 |
0 |
None |
||
- Changxin Jinli Trend Equity |
legal person |
||||||
Securities Investment Fund |
|||||||
( |
|||||||
) |
|||||||
Guizhou Provincial Materials |
State-owned |
0.34 |
45,800,000 |
0 |
29,000,000 |
||
Development and Investment |
legal person |
pledged |
|||||
Corporation |
|||||||
() |
|||||||
Guangxi Investment Group Co., Ltd. |
State-owned |
0.19 |
26,030,864 |
0 |
None |
||
() |
|||||||
The top ten shareholders of tradable shares not subject to trading moratorium |
||
Number of |
||||
tradable shares |
||||
not subject |
||||
to trading |
||||
moratorium held |
||||
as at the end |
||||
Name of shareholders (in full) |
of the period |
Class and number of shares |
||
Aluminum Corporation of China [1] |
5,214,407,195 |
RMB denominated |
5,214,407,195 |
||
ordinary shares |
|||||
HKSCC Nominees Limited |
3,924,887,434 |
Overseas listed |
3,924,887,434 |
||
foreign shares |
|||||
China Cinda Assets Management Corporation |
600,000,000 |
RMB denominated |
600,000,000 |
||
ordinary shares |
|||||
China Construction Bank Corporation Limited |
556,066,216 |
RMB denominated |
556,066,216 |
||
ordinary shares |
|||||
Guokai Financial Limited Company |
415,168,145 |
RMB denominated |
415,168,145 |
||
ordinary shares |
|||||
Baotou Aluminum (Group) Co., Ltd. |
301,217,795 |
RMB denominated |
301,217,795 |
||
ordinary shares |
|||||
Lanzhou Aluminum Factory |
79,472,482 |
RMB denominated |
79,472,482 |
||
ordinary shares |
|||||
Shanghai Pudong Development Bank |
45,916,489 |
RMB denominated |
45,916,489 |
||
- Changxin Jinli Trend Equity |
ordinary shares |
||||
Securities Investment Fund |
|||||
( |
|||||
) |
|||||
Guizhou Provincial Materials Development |
45,800,000 |
RMB denominated |
45,800,000 |
||
and Investment Corporation |
ordinary shares |
||||
Guangxi Investment Group Co., Ltd. |
26,030,864 |
RMB denominated |
26,030,864 |
||
ordinary shares |
|||||
Connected relationship or concert-party |
The number of shares of [1] does not contain the A shares of the Company |
||
relationship among the above shareholders |
held indirectly by Batou Aluminum (Group) Co., Ltd., Lanzhou Aluminum Factory, Guiyang Aluminum Magnesium Design and Research Institute Co., Ltd. and Shanxi Aluminum Plant. Aluminum Corporation of China and its subsidiaries altogether hold 5,606,357,299 shares of the Company and 41.45% of voting rights. |
||
3. |
SIGNIFICANT EVENTS |
3.1 |
Material changes in major accounting items and financial indicators and the reasons thereof |
|
Applicable |
Not Applicable |
||
1. |
Business tax and surcharges decreased by 33%, mainly attributable to the decrease in tax and surcharges following the decrease in circulation tax of the Group for the period. |
||
2. |
Loss of assets impairment increased by 21%, mainly attributable to the increase in the provision for inventory impairment of the Group. |
||
3. |
Loss in fair value changes increased by 165%, mainly attributable to the increase in the loss in fair value changes arising from futures contracts held by the Group. |
||
4. |
Investment income decreased by 24%, mainly attributable to the decrease in income in the associates and joint ventures of the Group as compared with the corresponding period last year. |
||
5. |
Non-operating income decreased by 86%, mainly attributable to the recognition of negative goodwill incurred from the incorporation of Ningxia Energy by the Group and the decrease in income from subsidies in the corresponding period last year. |
||
6. |
Non-operating expenses decreased by 39%, mainly attributable to the decrease in expenses on donations of the Group. |
||
7. |
Income tax expenses increased by 157%, mainly attributable to the fact that most of the losses of the Group are unrecognized as deferred income tax assets. |
||
8. |
Cash and cash equivalents increased by 30%, mainly attributable to the broadening of financing channel of the Group. |
||
9. |
Trade receivables increased by 42%, mainly attributable to the increase in accounts receivable. |
||
10. |
Interest receivable increased by 76%, mainly attributable to the interests from the consideration of the assets transfer and the sales of equity interests to Chinalco by the Group. |
||
11. |
Other current assets increased by 30%, mainly attributable to the increase of principal guaranteed wealth management products purchased by the Group to liquidize temporarily laid-up capital. |
||
12. |
Financial liabilities held for trading increased by 3870%, mainly attributable to the deficit in position of the futures at the end of the contract term. |
||
13. |
Notes payables increased by 55%, mainly attributable to a proper increase in settlement method of notes during procurement to respond to a tightening money market. |
||
14. |
Advances from customers increased by 34%, mainly attributable to the increase in sales, resulting in the increase in payments received in advance by the Group. |
||
15. |
Staff remuneration payables increased by 33%, mainly attributable to the delay in payment of social insurance premium of Ningxia Energy, a controlling subsidiary of the Group, which is dealing with the changes of its social insurance attribution. |
||
16. |
Long-term payables increased by 88%, mainly attributable to finance leasing obtained by Shanxi Huaze, a controlling subsidiary of the Group. |
||
17. |
Net cash flow from operating activities of the Group for the first quarter was RMB155 million of net inflow, representing an increase of RMB1.246 billion from net outflow of RMB1.091 billion in the same period last year, mainly attributable to the enhancement of management to current assets and current liabilities through transformation of operations of cash flow. On production and operation, the production cost of electrolytic aluminum and alumina, being the principal products, fell by approximately 3% and 7% respectively and the total of selling expense, administrative expense and finance expense decreased by approximately 10% as compared with the same period last year in the first quarter, mainly attributable to a strict control of cost and expenses in every aspect of the Group. However, due to the overcapacity of electrolytic aluminium, the selling prices of electrolytic aluminum and alumina of the Company decreased by approximately 10% and 5% as compared with the same period last year, respectively, resulting in an increase of approximately RMB1,300 million in the amount of loss. |
||
3.2 |
Progress of significant events and effects thereof and analysis on solutions |
|
Applicable |
Not Applicable |
||
3.3 |
Implementation of undertakings by the Company and its shareholders with shareholding of 5% or more |
|
Applicable |
Not Applicable |
||
Aluminum Corporation of China (hereafter referred to as "Chinalco") undertook that the Company would arrange to dispose of its aluminum fabrication business or acquire aluminum fabrication business from Chinalco and would acquire the pseudo-boehmite business from Chinalco within a certain period of time following the listing of the Company's A shares. |
||
In 2013, the horizontal competition in the aluminum fabrication business was solved through the adjustment of the development strategy by the Company, during which the eight aluminum fabrication enterprises such as Chalco Henan Aluminum Co., Limited, as well as Northwest Aluminum Fabrication Branch () were disposed to Chinalco in entirety. Up till now, both Shanxi Aluminum Plant, a wholly-owned subsidiary of Chinalco, and the Shandong branch of the Company had minor activities in the pseudo-boehmite business. However, as the pseudo-boehmite business is not among the principal activities of the Company, and the pseudo-boehmite business in Shanxi Aluminum Plant of Chinalco was of a small scale, the acquisition of such assets will incur additional cash expenditure and will not improve the Company's performance. |
||
The Company and Chinalco will strive to resolve the problem of horizontal competition on pseudo-boehmite business as the opportune time arises with reference to the market situations within five years since 1 January 2014. |
||
In 2013, the Company had transferred the relevant assets of the alumina production line of Guizhou Branch to Chinalco, which resulted in a new horizontal competition on alumina business between the Company and Chinalco. Chinalco undertook that it will halt production within three years till 30 June 2016 after taking over alumina assets in Guizhou Branch as the solution to the horizontal competition. |
||
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 |
|
Applicable |
Not Applicable |
||
The Company expects to record loss for the period from the beginning of the year to the end of next reporting period due to severe overcapacity of aluminum as well as the continuous depression of the market prices of products. Details will be disclosed in the interim report of the Company for 2014. |
||
|
Aluminum Corporation of China Limited * |
Legal representative: Xiong Weiping |
|
29 April 2014 |
|
4. |
APPENDICES |
Consolidated Balance Sheet |
|
As at 31 March 2014 |
|
Prepared by: Aluminum Corporation of China Limited* |
|
Unit: '000 Currency: RMB |
|
31 March |
31 December |
||
Items |
2014 |
2013 |
|
Current assets: |
|||
Cash and cash equivalents |
16,112,560 |
12,425,853 |
|
Settlement reserve |
|||
Placements with banks and |
|||
other financial institutions |
|||
Held-for-trading financial assets |
24 |
23 |
|
Notes receivable |
2,344,553 |
2,142,453 |
|
Accounts receivable |
5,699,899 |
4,014,152 |
|
Prepayments |
7,060,621 |
5,805,619 |
|
Premiums receivable |
|||
Receivables from reinsurers |
|||
Deposits receivable from |
|||
reinsurance agreements |
|||
Interest receivable |
520,053 |
294,748 |
|
Dividends receivable |
125,135 |
125,135 |
|
Other receivables |
12,364,886 |
11,674,138 |
|
Purchases of resold financial assets |
|||
Inventories |
23,030,339 |
23,535,948 |
|
Non-current assets due within one year |
28,000 |
28,000 |
|
Other current assets |
3,922,471 |
3,019,352 |
|
|
|
||
Total current assets |
71,208,541 |
63,065,421 |
|
|
|
||
Non-current assets: |
|||
Entrusted loans and advances granted |
|||
Financial assets available for sale |
|||
Held-to-maturity investments |
|||
Long-term receivables |
|||
Long-term equity investments |
7,111,219 |
6,984,771 |
|
Investment properties |
|||
Fixed assets |
83,231,967 |
85,145,430 |
|
Construction in progress |
17,203,693 |
15,190,275 |
|
Construction materials |
277,181 |
270,267 |
|
Disposals of fixed assets |
|||
Biological assets for production |
|||
Oil and gas assets |
|||
Intangible assets |
11,166,948 |
11,251,410 |
|
Development expenses |
|||
Goodwill |
2,345,063 |
2,344,953 |
|
Long-term deferred expenditures |
297,559 |
281,904 |
|
Deferred income tax assets |
1,824,847 |
1,793,310 |
|
Other non-current assets |
13,077,858 |
13,179,313 |
|
Total non-current assets |
136,536,335 |
136,441,633 |
|
|
|
||
Total assets |
207,744,876 |
199,507,054 |
|
|
|
||
Current liabilities: |
|||
Short-term borrowings |
44,579,147 |
47,146,473 |
|
Borrowings from central bank |
|||
Deposit taking and deposit in |
|||
inter-bank market |
|||
Placements from banks and |
|||
other financial institutions |
|||
Held-for-trading financial liabilities |
77,304 |
1,947 |
|
Notes payable |
5,619,030 |
3,631,144 |
|
Accounts payable |
9,273,201 |
8,770,506 |
|
Payments received in advance |
2,102,179 |
1,565,691 |
|
Disposal of repurchased financial assets |
|||
Handling charges and commissions payable |
|||
Staff remuneration payable |
486,593 |
365,944 |
|
Taxes payable |
520,743 |
557,377 |
|
Interest payable |
813,958 |
726,064 |
|
Dividends payable |
108,251 |
108,251 |
|
Other payables |
6,471,401 |
6,965,626 |
|
Reinsurance accounts payable |
|||
Deposits for insurance contracts |
|||
Agent brokerage fee |
|||
Agent underwriting fee |
|||
Non-current liabilities due within one year |
11,291,084 |
11,612,587 |
|
Other current liabilities |
19,285,804 |
15,285,971 |
|
|
|
||
Total current liabilities |
100,628,695 |
96,737,581 |
|
|
|
||
Non-current liabilities: |
|||
Long-term borrowings |
29,711,953 |
26,974,618 |
|
Debentures payable |
22,317,200 |
19,320,210 |
|
Long-term payables |
1,445,181 |
767,157 |
|
Special payables |
140,080 |
119,080 |
|
Projected liabilities |
96,632 |
98,792 |
|
Deferred income tax liabilities |
1,083,109 |
1,088,150 |
|
Other non-current liabilities |
683,046 |
699,347 |
|
Total non-current liabilities |
55,477,201 |
49,067,354 |
|
|
|
||
Total liabilities |
156,105,896 |
145,804,935 |
|
|
|
||
Owner's equity (or shareholder's equity): |
|||
Paid-up capital (or share capital) |
13,524,488 |
13,524,488 |
|
Capital reserve |
13,743,094 |
13,743,094 |
|
Less: Treasury stock |
|||
Special reserve |
186,210 |
146,200 |
|
Surplus reserve |
5,867,557 |
5,867,557 |
|
General risk provision |
|||
Retained earnings |
9,171,260 |
11,327,787 |
|
Foreign currency translation differences |
-198,279 |
-251,401 |
|
Total owner's equity attributable to |
|||
the owners of the parent |
42,294,330 |
44,357,725 |
|
Non-controlling interest |
9,344,650 |
9,344,394 |
|
|
|
||
Total owner's equity |
51,638,980 |
53,702,119 |
|
|
|
||
Total liabilities and owner's equity |
207,744,876 |
199,507,054 |
|
|
|
||
Person-in-charge |
Head of Accounting |
||
Legal Representative: |
of Accounting: |
Department: |
|
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
|
Balance Sheet of the Parent Company |
|
As at 31 March 2014 |
|
Prepared by: Aluminum Corporation of China Limited* |
|
Unit: '000 Currency: RMB |
|
31 March |
31 December |
||
Items |
2014 |
2013 |
|
Current assets: |
|||
Cash and cash equivalents |
10,086,647 |
5,207,329 |
|
Held-for-trading financial assets |
|||
Notes receivable |
807,184 |
408,578 |
|
Accounts receivable |
2,679,479 |
1,622,687 |
|
Prepayments |
348,782 |
584,279 |
|
Interest receivable |
428,602 |
295,027 |
|
Dividends receivable |
217,180 |
217,180 |
|
Other receivables |
8,169,826 |
7,629,382 |
|
Inventories |
12,149,092 |
12,265,310 |
|
Non-current assets due within one year |
28,000 |
28,000 |
|
Other current assets |
807,610 |
914,368 |
|
|
|
||
Total current assets |
35,722,402 |
29,172,140 |
|
|
|
||
Non-current assets: |
|||
Financial assets available for sale |
|||
Held-to-maturity investments |
|||
Long-term receivables |
|||
Long-term equity investments |
27,919,156 |
27,903,030 |
|
Investment properties |
|||
Fixed assets |
46,413,383 |
47,349,667 |
|
Construction in progress |
4,063,556 |
3,790,443 |
|
Construction materials |
42,326 |
36,975 |
|
Disposal of fixed assets |
|||
Biological assets for production |
|||
Oil and gas assets |
|||
Intangible assets |
2,464,282 |
2,507,098 |
|
Development expenses |
|||
Goodwill |
2,330,945 |
2,330,945 |
|
Long-term deferred expenditures |
144,196 |
127,962 |
|
Deferred income tax assets |
1,217,016 |
1,202,232 |
|
Other non-current assets |
4,801,178 |
4,801,174 |
|
Total non-current assets |
89,396,038 |
90,049,526 |
|
|
|
||
Total assets |
125,118,440 |
119,221,666 |
|
|
|
||
Current liabilities: |
|||
Short-term borrowings |
24,905,000 |
25,810,000 |
|
Held-for-trading financial liabilities |
|||
Notes payable |
|||
Accounts payable |
5,393,503 |
4,893,450 |
|
Payments received in advance |
527,588 |
385,315 |
|
Staff remuneration payables |
272,199 |
211,752 |
|
Taxes payable |
136,818 |
172,421 |
|
Interests payable |
590,209 |
589,828 |
|
Dividends payable |
|||
Other payables |
3,101,842 |
4,321,838 |
|
Non-current liabilities due within one year |
6,229,940 |
6,294,940 |
|
Other current liabilities |
19,276,205 |
15,275,680 |
|
|
|
||
Total current liabilities |
60,433,304 |
57,955,224 |
|
|
|
||
Non-current liabilities: |
|||
Long-term borrowings |
7,099,408 |
4,984,408 |
|
Debentures payable |
21,929,447 |
18,920,210 |
|
Long-term payables |
|||
Special payables |
112,780 |
91,780 |
|
Projected liabilities |
|||
Deferred income tax liabilities |
|||
Other non-current liabilities |
397,287 |
400,952 |
|
Total non-current liabilities |
29,538,922 |
24,397,350 |
|
|
|
||
Total liabilities |
89,972,226 |
82,352,574 |
|
|
|
||
Owner's equity (or shareholder's equity): |
|||
Paid-up capital (or share capital) |
13,524,488 |
13,524,488 |
|
Capital reserve |
14,645,595 |
14,645,595 |
|
Less: Treasury stock |
|||
Special reserve |
56,786 |
54,112 |
|
Surplus reserve |
5,867,557 |
5,867,557 |
|
General risk provision |
|||
Retained earnings |
1,051,788 |
2,777,340 |
|
|
|
||
Total owner's equity |
|||
(or shareholder's equity) |
35,146,214 |
36,869,092 |
|
|
|
||
Total liabilities and owners' equity |
|||
(or shareholder's equity) |
125,118,440 |
119,221,666 |
|
|
|
||
Person-in-charge |
Head of Accounting |
||
Legal Representative: |
of Accounting: |
Department: |
|
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
|
Consolidated Income Statement |
|
January to March 2014 |
|
Unit: '000 Currency: RMB |
|
2014 |
2013 |
||
Items |
January to March |
January to March |
|
I. |
Total operating revenue |
35,241,718 |
34,213,296 |
Including: |
Operating revenue |
35,241,718 |
34,213,296 |
||
Interest income |
|||||
Premiums earned |
|||||
Handling charges and |
|||||
commission income |
|||||
II. |
Total cost of operations |
37,690,839 |
36,319,071 |
Including: |
Operating cost |
35,012,918 |
33,404,017 |
||
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 |
55,615 |
83,233 |
|||
Selling expenses |
420,349 |
457,625 |
|||
Administrative expenses |
621,172 |
645,200 |
|||
Finance expenses |
1,325,754 |
1,517,509 |
|||
Loss on assets impairment |
255,031 |
211,487 |
|||
Add: |
Gains on fair value changes |
||||
(loss stated with "-") |
-75,576 |
-28,543 |
|||
Investment income |
|||||
(loss stated with "-") |
177,274 |
234,330 |
Including: |
Investment income |
|||||
from associated |
||||||
companies and |
||||||
joint ventures |
125,604 |
198,861 |
Foreign currency |
|||||
exchange gains |
|||||
(loss stated with "-") |
|||||
III. |
Operating profit (loss stated with "-") |
-2,347,423 |
-1,899,988 |
Add: |
Non-operating income |
133,917 |
958,079 |
||
Less: |
Non-operating expenses |
3,599 |
5,929 |
Including: |
Loss from disposal |
|||||
of non-current assets |
6 |
41 |
IV. |
Total profit (total loss stated with "-") |
-2,217,105 |
-947,838 |
Less: |
Income tax expenses |
16,433 |
-28,995 |
||
V. |
Net profit (net loss stated with "-") |
-2,233,538 |
-918,843 |
|
Net profit attributable to owners |
||||
of the parent |
-2,156,527 |
-975,040 |
||
Non-controlling interests |
-77,011 |
56,197 |
||
VI. |
Earnings per share: |
|||
(i) Basic earnings per share |
-0.16 |
-0.07 |
||
(ii) Diluted earnings per share |
-0.16 |
-0.07 |
||
VII. |
Other comprehensive income |
53,122 |
-44,237 |
|
VIII. |
Total comprehensive income |
-2,180,416 |
-963,080 |
|
Total comprehensive income attributable |
||||
to owners of the parent |
-2,103,405 |
-1,019,277 |
||
Total comprehensive income attributable to |
||||
non-controlling shareholder |
-77,011 |
56,197 |
||
Legal Representative: |
of Accounting: |
Department: |
||||
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
||||
Income Statement of the Parent Company |
|
January to March 2014 |
|
Unit: '000 Currency: RMB |
|
2014 |
2013 |
||
Items |
January to March |
January to March |
|
I. |
Operating revenue |
10,226,239 |
11,281,182 |
Less: |
Operating costs |
10,558,709 |
11,178,820 |
||
Business tax and surcharges |
31,798 |
52,139 |
|||
Selling expenses |
266,933 |
253,389 |
|||
Administrative expenses |
338,418 |
319,102 |
|||
Finance expenses |
804,081 |
773,650 |
|||
Loss on assets impairment |
54,109 |
99,909 |
|||
Add: |
Gains on fair value changes |
||||
(loss stated with "-") |
0 |
11,222 |
|||
Investment income (loss stated with "-") |
25,026 |
844 |
Including: |
Investment income from associated |
|||||
companies and joint ventures |
14,904 |
-21,465 |
||||
II. |
Operating profit (loss stated with "-") |
-1,802,783 |
-1,383,761 |
Add: |
Non-operating income |
63,557 |
154,440 |
||
Less: |
Non-operating expenses |
1,110 |
3,888 |
Including: |
Loss from disposal of |
|||||
non-current assets |
6 |
4 |
||||
III. |
Total profit (total loss stated with "-") |
-1,740,336 |
-1,233,209 |
Less: |
Income tax expenses |
-14,784 |
14,011 |
||
IV. |
Net profit (net loss stated with "-") |
-1,725,552 |
-1,247,220 |
|
V. |
Earnings per share: |
|||
(i) Basic earnings per share |
||||
(ii) Diluted earnings per share |
||||
VI. |
Other comprehensive income |
|||
VII. |
Total comprehensive income |
-1,725,552 |
-1,247,220 |
|
Person-in-charge |
Head of Accounting |
||
Legal Representative: |
of Accounting: |
Department: |
|
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
|
Consolidated Cash Flow Statement |
|
January to March 2014 |
|
Unit: '000 Currency: RMB |
|
2014 |
2013 |
||
Items |
January to March |
January to March |
|
I. |
Cash flow from operating activities: |
|||
Cash received from product sales and |
||||
rendering of services |
39,881,635 |
40,166,561 |
||
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 |
13,566 |
40,360 |
||
Other cash received relating |
||||
to operating activities |
206,970 |
384,116 |
||
Sub-total of cash inflow |
||||
from operating activities |
40,102,171 |
40,591,037 |
||
Cash paid for purchase of |
||||
goods and receipt of services |
36,032,724 |
36,719,807 |
||
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 |
1,422,913 |
1,904,542 |
||
Taxes and surcharges paid |
751,104 |
583,207 |
||
Other cash paid relating to operating activities |
1,740,488 |
2,474,501 |
||
Sub-total of cash outflow from |
||||
operating activities |
39,947,229 |
41,682,057 |
||
|
|
|||
Net cash flow from operating activities |
154,942 |
-1,091,020 |
||
|
|
|||
II. |
Cash flows from investment activities: |
|||
Cash received from disposal of investments |
16,806 |
|||
Cash received from returns on investments |
44,633 |
269,242 |
||
Net cash received from disposal of fixed assets, |
||||
intangible assets and other long-term assets |
603 |
203,388 |
||
Net cash received from disposal of subsidiaries |
||||
and other operating entities |
10,000 |
|||
Other cash received relating to |
||||
investment activities |
259,106 |
31,846 |
||
Sub-total of cash inflow from |
||||
investment activities |
314,342 |
521,282 |
||
Cash paid to acquire fixed assets, |
||||
intangible assets and other long-term assets |
2,008,523 |
2,420,930 |
||
Cash paid for investment |
1,169,686 |
234,412 |
||
Net increase in pledged loans |
||||
Net cash paid for acquisition of |
||||
subsidiaries and other operating entities |
29,136 |
403,187 |
||
Other cash paid relating to investment activities |
88,046 |
1,099,874 |
||
Sub-total of cash outflow from |
||||
investment activities |
3,295,391 |
4,158,403 |
||
|
|
|||
Net cash flows from investment activities |
-2,981,049 |
-3,637,121 |
||
|
|
|||
III. |
Cash flow from financing activities: |
|||
Proceeds received from investments |
48,031 |
Including: |
Proceeds received by subsidiaries |
||||
from non-controlling |
|||||
shareholders' investment |
48,031 |
Cash received from borrowings |
15,891,256 |
20,884,209 |
||
Cash received from issue of debentures |
14,000,000 |
5,971,500 |
||
Other cash received relating to |
||||
financing activities |
21,000 |
365,400 |
||
Sub-total of cash inflow from |
||||
financing activities |
29,960,287 |
27,221,109 |
||
Cash paid for repayment |
22,120,228 |
18,100,772 |
||
Cash paid for dividend and profit |
||||
distribution or interest repayment |
1,449,596 |
1,569,160 |
Including: |
Dividend and profit paid |
||||
by subsidiaries to |
|||||
non-controlling shareholders |
Other cash paid relating to financing activities |
33,000 |
470,689 |
||
Sub-total of cash outflow from |
||||
financing activities |
23,602,824 |
20,140,621 |
||
|
|
|||
Net cash flows from financing activities |
6,357,463 |
7,080,488 |
||
|
|
|||
IV. |
Effect on cash and cash equivalents due to |
|||
change in foreign currency exchange rate |
-64,280 |
-3,484 |
||
V. |
Net increase in cash and cash equivalents |
3,467,076 |
2,348,863 |
Add: |
Balance of cash and |
||||
cash equivalents at |
|||||
the beginning of the period |
11,381,695 |
9,063,593 |
|||
VI. |
Balance of cash and cash equivalents at |
|||
the end of the period |
14,848,771 |
11,412,456 |
||
Person-in-charge |
Head of Accounting |
||
Legal Representative: |
of Accounting: |
Department: |
|
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
|
Cash Flow Statement of the Parent Company |
|
January to March 2014 |
|
Unit: '000 Currency: RMB |
|
2014 |
2013 |
||
Items |
January to March |
January to March |
|
I. |
Cash flow from operating activities: |
|||
Cash received from product sales |
||||
and rendering of services |
10,651,583 |
13,117,368 |
||
Refund of tax and levies received |
13,566 |
14,431 |
||
Other cash received relating to |
||||
operating activities |
84,713 |
174,676 |
||
Sub-total of cash inflow from |
||||
operating activities |
10,749,862 |
13,306,475 |
||
Cash paid for purchase of goods and |
||||
receipt of services |
10,884,012 |
12,342,654 |
||
Cash paid to and on behalf of employees |
933,205 |
1,130,131 |
||
Taxes and surcharges paid |
405,648 |
653,589 |
||
Other cash paid relating to operating activities |
791,994 |
666,418 |
||
Sub-total of cash outflow from |
||||
operating activities |
13,014,859 |
14,792,792 |
||
|
|
|||
Net cash flow from operating activities |
-2,264,997 |
-1,486,317 |
||
|
|
|||
II. |
Cash flows from investment activities: |
|||
Cash received from disposal of investments |
||||
Cash received from returns on investments |
6,731 |
12,160 |
||
Net cash received from disposal of fixed assets, |
||||
intangible assets and other long-term assets |
56,705 |
|||
Net cash received from disposal of subsidiaries |
||||
and other operating entities |
10,000 |
|||
Other cash received relating to |
||||
investment activities |
1,023,000 |
|||
Sub-total of cash inflow from |
||||
investment activities |
1,039,731 |
68,865 |
||
Cash paid to acquire fixed assets, intangible |
||||
assets and other long-term assets |
561,184 |
863,190 |
||
Cash paid for investment |
17,200 |
583,000 |
||
Net cash paid for acquisition of |
||||
subsidiaries and other operating entities |
4,387,630 |
|||
Other cash paid relating to investment activities |
650,000 |
21,087 |
||
Sub-total of cash outflow from |
||||
investment activities |
1,228,384 |
5,854,907 |
||
|
|
|||
Net cash flows from investment activities |
-188,653 |
-5,786,042 |
||
|
|
|||
III. |
Cash flows from financing activities: |
|||
Proceeds received from investments |
||||
Cash received from borrowings |
6,895,000 |
7,900,000 |
||
Cash received from bond issue |
14,000,000 |
6,000,000 |
||
Other cash received relating to |
||||
financing activities |
21,000 |
365,400 |
||
Sub-total of cash inflow from |
||||
financing activities |
20,916,000 |
14,265,400 |
||
Cash paid for repayment |
12,754,575 |
7,103,000 |
||
Cash paid for dividend and profit |
||||
distribution or interest repayment |
800,752 |
550,941 |
||
Other cash paid relating to financing activities |
12,000 |
|||
Sub-total of cash outflow from |
||||
financing activities |
13,567,327 |
7,653,941 |
||
|
|
|||
Net cash flows from financing activities |
7,348,673 |
6,611,459 |
||
|
|
|||
IV. |
Effect on cash and cash equivalents due to |
|||
change in foreign currency exchange rate |
-383 |
53 |
||
V. |
Net increase in cash and cash equivalents |
4,884,640 |
-660,847 |
Add: |
Balance of cash and cash |
||||
equivalents at the beginning |
|||||
of the period |
4,894,640 |
4,396,234 |
|||
VI. |
Balance of cash and cash equivalents at |
|||
the end of the period |
9,785,607 |
3,735,387 |
||
Person-in-charge |
Head of Accounting |
||
Legal Representative: |
of Accounting: |
Department: |
|
Xiong Weiping |
Xie Weizhi |
Lu Dongliang |
|
|
By order of the board of directors |
Aluminum Corporation of China Limited * |
|
Xu Bo |
|
Company Secretary |
|
Beijing, the PRC |
|
29 April 2014 |
|
As at the date of this announcement, the members of the board of directors comprise Mr. Xiong Weiping, Mr. Luo Jianchuan, Mr. Liu Xiangmin and Mr. Jiang Yinggang (Executive Directors); Mr. Wang Jun (Non-executive Director); Mr. Wu Jianchang, Mr. Ma Si-hang, Frederick and Mr. Wu Zhenfang (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: Xu Bo, Company Secretary |