Most popular Aluminum Corporation of China sells a

2022-07-25
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Chinalco sells assets, divests non-performing assets or paves the way for new business. In 2015, there is only more than one month left. Looking back on the aluminum price this year, it can be said that it has reached the bottom. Since June this year, the aluminum price has started to fall without any sign of stopping. In the traditional peak season, the market performance and turning the dial pointer to the simply supported beam impact testing machine. The solution to the problem is: the strike energy scale is still not active. In October, the aluminum price accelerated its decline, and in November, the aluminum price has fallen below RMB million per ton

according to the prosperity index of China's nonferrous aluminum smelting industry, in October 2015, the prosperity index of China's nonferrous aluminum smelting industry was 20.81, which was in the "cold" range. At present, the index has shown a downward trend for seven consecutive months. Overall, the recent decline in the aluminum smelting industry has slowed down, but it still shows a trend of fluctuating status, and downward pressure still exists

recently, as a leading listed company in China's aluminum processing industry, Aluminum Corporation of China has issued several announcements in a row to get rid of non-performing assets and implement the method of "subtraction" in order to turn around losses

sale of three assets

the recovered funds shall not be less than 2billion yuan

on November 14, Aluminum Corporation of China successively issued the announcements on the company's intention to transfer the housing assets of Aluminum Corporation of China Limited in Hong Kong, on the company's intention to dispose of some assets of Guizhou branch and on the company's intention to transfer all the equity of aluminum Nanhai Alloy Co., Ltd

according to the contents of the announcement, in order to integrate and revitalize the company's internal non operating real estate and improve the efficiency of asset use and capital turnover, Aluminum Corporation of China (Hong Kong) Ltd. plans to transfer the office building agreement of Aluminum Corporation of China (Hong Kong) Ltd. located on the 45th floor of the Hong Kong Far East financial center to the overseas controlling shares of Aluminum Corporation of China. The underlying assets of this transaction are: the property on the 45th floor of the Far East Financial Center, 16 Harcourt Road, Admiralty, Hong Kong (with an area of 10800 square feet); The appraised property value is about HK $372million

in addition, Aluminum Corporation of China also plans to dispose the houses, buildings, structures and other assets of Guizhou branch located in the electrolytic aluminum plant area to Guiyang land and mineral resources reserve center. The underlying assets of this transaction are the above ground buildings, structures and other assets of Aluminum Corporation of China Guizhou branch located in the electrolytic aluminum plant area. The disposal value of the above assets of Guizhou branch is 1.95 billion yuan. The total transfer price of above ground buildings and structures paid by the receiver and depositor to Guizhou branch in cash is 1.95 billion yuan

in the third announcement, Aluminum Corporation of China said that the company and its subsidiary Chinalco international trade would publicly transfer 100% of the equity of Nanhai alloy at a price not less than the net asset value of 210million yuan (subject to the amount of the formal appraisal report), of which Aluminum Corporation of China holds 60% of the equity of Nanhai alloy and aluminum international trade holds 40% of the equity of Nanhai alloy. As of September 30th, 2015, Nanhai alloy had audited total assets of 248million yuan, total liabilities of 144million yuan and net assets of 103million yuan

for the above three asset sales, the company said that it would increase cash flow and reduce asset liability ratio. Another industry analyst said that Aluminum Corporation of China did this in order to strip off non-performing assets and activate cash so as to better develop other businesses. In addition, after stripping non-performing assets, new businesses may be injected into listed companies

divest non-performing assets

or pave the way for injecting new business

earlier, when the securities interviewed the aluminum company (Group), the company said that it would definitely vigorously develop the aluminum processing industry in the future, enhance the added value, extend the industrial chain, especially in the transportation profile, and seize the important opportunity of replacing steel with aluminum. When it comes to performance, the company said that its task this year is to turn around losses

in order to turn losses into profits, as early as at the 2015 annual work meeting, gehonglin, chairman of Chalco, summarized the 2015 structural adjustment plan as an algorithm of "addition, subtraction, multiplication and division". The specific measures are to add, plan and implement a number of major projects, improve the industrial chain, and cultivate new growth points through diversified development; Make subtraction, implement policies by enterprises, solve "zombie" enterprises, reduce loss areas and eliminate loss points; Multiply, adhere to innovative development, and create new development advantages by relying on innovation driven and scientific and technological progress; We will adopt the elimination method, strengthen capital operation, and accelerate the revitalization and disposal of inefficient and ineffective assets. Synthetic rubber replaces 20000 tons of imported products. In fact, as early as June this year, Aluminum Corporation of China issued a series of announcements, which confirmed the speculation of the above industry analysts about the new business

on June 26 this year, in order to make full use of the technical advantages of Chinalco resources in resource exploration and acquisition to carry out the exploration and mining of bauxite at home and abroad, Chinalco plans to contribute 617million yuan to Chinalco resources, so as to obtain 15% of the shares of the latter. After the completion of this work, Chalco will hold 78% of the equity of Chalco resources, and the remaining equity will be held by the other two companies under Chalco respectively. Chalco believes that this capital increase will help the company make full use of the technical advantages of Chalco resources in resource exploration and acquisition to carry out the exploration and mining of bauxite at home and abroad, and extend to other metal varieties; Then, through capital increase, Chinalco resources made breakthroughs in specific exploration areas and mineral product exploration, looking for new profit growth points for the company

for similar purposes, on the same day, Aluminum Corporation of China also approved its wholly-owned subsidiary Baotou Aluminum Industry Co., Ltd. to acquire the relevant assets and liabilities of the high-purity aluminum plant and light metal material plant of Baotou Aluminum Industry (Group) Co., Ltd., a holding subsidiary of Aluminum Corporation of China, and the relevant personnel were transferred with the assets; At the same time, it is approved that the wholly-owned subsidiary Chinalco Shandong Co., Ltd. plans to exchange some assets with the wholly-owned subsidiary Shandong Aluminum Corporation of Chinalco

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