Aluminum

HEC announced on September 29 that its controlling shareholder, Shenzhen HEC Industrial, has proposed that the company use its own or self-raised funds to repurchase part of its shares through centralized bidding. The buyback amount will be no less than 600 million yuan and no more than 1.2 billion yuan.

HEC Pharm's controlling shareholder, Shenzhen HEC Industrial, has proposed that the company use its own or self-raised funds to repurchase A-shares, with the buyback amount set at no less than 600 million yuan and no more than 1.2 billion yuan. The repurchase price will not exceed 150% of the average trading price of the stock over the 30 trading days prior to the board resolution, and the implementation period is within six months after board approval. In an after-hours announcement the same day, Shandong Gold Mining's chairman Wang Chenglong proposed a buyback of 300 million to 400 million yuan worth of A-shares, all of which will be cancelled to reduce the company's registered capital. SUPCON Technology plans to raise the upper limit of its share repurchase price from no more than 68.53 yuan per share to no more than 133.50 yuan per share, while Huaqin Technology carried out its first buyback of 1.057 million A-shares for 79.6009 million yuan. In equity transactions, Lian Tai Environmental intends to sell 100% equity in Hunan Lian Tai and Shantou Lian Tai for a total of 1.611 billion yuan, and Jin Jiang Hotels plans to acquire an additional 10% stake each in Vienna Hotels and Baisuicun Catering for approximately 811 million yuan to achieve full ownership. In addition, Nhwa Pharmaceutical has granted Somnivera exclusive rights to an investigational innovative drug for sleep disorders, with potential milestone payments of up to 507 million US dollars.

Shunbo Alloy announced on September 27 that it recently received approval from the China Securities Regulatory Commission, granting registration for its application to issue shares to specific investors.

Zhongfu Industrial announced that the fourteenth meeting of its eleventh board of directors approved the proposal on new project investment by Henan Zhongfu Electric Power Co., Ltd. The wholly-owned subsidiary Zhongfu Electric Power plans to invest 250 million yuan to carry out energy-saving and carbon-reduction upgrades on Units 5 and 6. The upgrades include steam turbine flow path retrofits, boiler combustion system optimization, dynamic separator retrofits, and fan energy-efficiency improvements, with a construction period of 28 months. The announcement shows that after the upgrades, the average annual net profit is expected to be 51.65 million yuan, with a project return rate of 20.66 percent and a payback period of five years. The two units will reduce carbon emissions by 120,000 tonnes per year.

Zhongfu Industrial announced that its wholly-owned subsidiary Zhongfu Electric Power plans to invest 250 million yuan to carry out energy-saving and carbon-reduction upgrades on Units 5 and 6. The upgrades include steam turbine flow path retrofits, boiler combustion system optimization, dynamic separator retrofits, and fan energy-efficiency improvements.

Zhongfu Industrial announced on September 15 that its wholly-owned subsidiary Zhongfu Electric Power plans to invest 250 million yuan to carry out energy-saving and carbon-reduction upgrades on Units 5 and 6. The upgrades include turbine flow path retrofits, boiler combustion system optimization, dynamic separator retrofits, and fan energy-efficiency improvements.

Molly Beerman, chief financial officer of U.S. aluminum giant Alcoa, said on the 10th that the hefty premium paid for aluminum in the United States will not fall sharply even if the U.S. government halves tariffs on metal imported from Canada, because imports from other countries will still be needed. She spoke at a Jefferies conference held in New York. The Midwest Premium, the price paid for physical aluminum on top of the London Metal Exchange benchmark price, stands at a high level of $1.09 per pound, but has fallen from its June peak of $1.19 on expectations that import tariffs on Canadian aluminum may be halved. Beerman noted that the United States needs to import about 4 million tons of aluminum, of which Canada supplies only 3 million tons, meaning 1 million tons must be imported elsewhere, and explained that even if a favorable tariff rate is applied to Canada, the Midwest Premium will not fall sharply. She said that if tariff relief or exemptions are granted to other trading partners such as Japan, South Korea and Europe, covering the remaining 1 million tons, the benefit from tariffs would effectively disappear and the Midwest Premium would shrink accordingly. According to Beerman, Alcoa produces about 900,000 tons of aluminum a year in Canada and pays more than $1 billion in tariffs to import most of it into the United States, but it can not only fully recover that amount through the Midwest Premium but also generate profits from tight supply.

Alcoa Corporation announced the pricing of its $2.6 billion senior notes offering, which will finance the cash portion of its acquisition of South32's bauxite, alumina, and aluminum assets. The offering consists of $1.5 billion of 6.625% Senior Notes due 2034 issued by Alumina Pty Ltd and $1.1 billion of 6.875% Senior Notes due 2036 issued by Alcoa Nederland Holding B.V., both wholly-owned subsidiaries of Alcoa. The notes, guaranteed by Alcoa and certain subsidiaries, are expected to close on September 23, 2026. Proceeds, along with cash on hand, will fund the approximately $3.1 billion cash consideration for the acquisition, which remains subject to South32 shareholder approval and regulatory clearances.

80 Mile PLC shares climbed 7% to 0.80p after Greenland Energy agreed indicative terms for a £61.48 million all-share acquisition. Under the proposal, each 80 Mile share would exchange for 0.01108 new Greenland Energy common shares, implying a value of approximately 1.1p per share. The implied premiums are 46.67% against the 7 September mid-market price, 42.86% against the 3 September mid-market price, and 64.18% against July's placing price. Greenland Energy has already acquired 246.7 million 80 Mile shares, representing 4.42% of existing issued capital, at a weighted average price of 0.73p. The deal is subject to pre-conditions including confirmatory due diligence and unanimous backing from 80 Mile's Independent Directors.

Genflow Biosciences announced that its SLAB gene therapy trial in ageing dogs has met its primary endpoint, and it is now in talks with major animal health companies about a licensing deal. EnergyPathways has appointed Jacobs as engineering and regulatory partner for its MESH energy storage project in the Irish Sea, moving toward a key Ofgem funding submission. Itaconix is targeting a doubling of revenue to $30 million in the medium term, after half-year revenue jumped 72% on strong detergent demand. Gaming Realms says it is well placed to keep growing despite a UK tax hike hitting margins, with core content licensing revenue up 12% in the first half. Total Graphite reports that fresh drilling in Madagascar has strengthened the case for restarting mining at Vatomina, with one hole returning 19 metres at 3.3% graphite. 80 Mile has agreed indicative terms for a £61.5 million all-share takeover by Nasdaq-listed Greenland Energy, representing a near-47% premium to its share price.

The U.S. Department of War will provide $174 million in financing to Alcoa Corp. to build a gallium plant at its alumina refinery in Western Australia, as Washington moves to reduce reliance on China for critical minerals. Gallium is essential for high-performance semiconductors used in defense technologies, and China controls about 98% of global production, having banned direct exports to the U.S. in 2024. Alcoa has begun construction on the Wagerup facility, expected to produce roughly 100 tons of gallium annually, in partnership with Japan's Sojitz Corp. and JOGMEC. Assistant Secretary of War Michael Cadenazzi called the agreement landmark, securing vital supply for the defense industrial base.

Dingsheng New Materials has released its 2026 interim report. The company's total operating revenue was 15.466 billion yuan, net profit attributable to the parent company was 480 million yuan, and net cash inflow from operating activities was 741 million yuan. The latest asset-liability ratio was 72.86 percent, up 2.63 percentage points from the previous quarter and up 0.80 percentage points from the same period last year. Gross margin was 11.28 percent, return on equity was 6.24 percent, and diluted earnings per share was 0.52 yuan. Total asset turnover was 0.60 times, and inventory turnover was 3.05 times. The number of shareholders was 52,800, and the top ten shareholders held 49.98 percent of the total share capital.

On August 29, five companies disclosed private placement plans. Among them, Haixing Electronics plans to issue shares non-publicly to no more than 35 qualified investors, expecting to raise 2.1 billion yuan for projects including high-performance corrosion foil for automotive solid-liquid hybrid use. Dingsheng New Materials expects to raise 1.216 billion yuan. Xiaosong Holdings plans to issue up to 85 million shares to its controlling shareholder and others, expecting to raise 550 million yuan. According to DataBao statistics, 31 stocks will unlock next week, with a total unlocked market value exceeding 17.8 billion yuan. Among them, Aerospace Intelligent Manufacturing has an unlocked market value of 6.053 billion yuan, with the highest unlock ratio reaching 54.74 percent. Honghe Technology has an unlocked market value of 3.46 billion yuan. Among next week's unlocking stocks, Chipscreen Biosciences and Aladdin have received institutional research. GigaDevice's net profit attributable to the parent company in the first half of the year was 6.857 billion yuan, a year-on-year increase of 1091.50 percent.

Jiaozuo Wanfang released its 2026 interim report on August 29, 2026. During the reporting period, the company achieved total operating revenue of 4.148 billion yuan, net profit attributable to the parent of 1.23 billion yuan, and net cash inflow from operating activities of 1.165 billion yuan. The company's latest asset-liability ratio was 10.41%, gross margin was 37.81%, return on equity was 15.20%, and diluted earnings per share was 1.03 yuan. Total asset turnover was 0.47 times, and inventory turnover was 4.78 times, down 13.82% from the same period last year. The company had 84,100 shareholders, and the top ten shareholders held 31.04% of total share capital.

Aluminum Corporation of China released its 2026 interim report. Total operating revenue was 125.413 billion yuan, up 7.74% year-on-year, and net profit attributable to the parent company was 11.871 billion yuan, up 67.91% year-on-year. Net cash inflow from operating activities was 26.263 billion yuan, up 84.11% year-on-year. The company's asset-liability ratio was 42.76%, down 4.12 percentage points from the same period last year; gross margin was 26.94%, up 10.18 percentage points year-on-year; ROE was 14.05%, up 4.32 percentage points year-on-year. Diluted earnings per share were 0.69 yuan, up 67.80% year-on-year.

Dingsheng New Materials released its 2026 semi-annual report on August 28. During the reporting period, the company achieved operating revenue of 15.466 billion yuan, up 16.17% year on year. Net profit attributable to shareholders of the listed company was 480 million yuan, up 155.41% year on year. The company plans to distribute a cash dividend of 0.10 yuan per share, tax included, to all shareholders.

Yunnan Aluminum released its 2026 interim report. Total operating revenue was 34.981 billion yuan, up 20.30% year-on-year. Net profit attributable to the parent company was 7.684 billion yuan, up 177.61% year-on-year. Net cash flow from operating activities was 8.377 billion yuan, up 125.00% year-on-year. The company's asset-liability ratio was 15.80%, gross margin was 31.84%, ROE was 20.13%, and diluted earnings per share was 2.22 yuan. The number of shareholders was 157,900, and the top ten shareholders held 54.61% of total share capital.

Yunnan Aluminum released its 2026 semi-annual report on August 27, reporting operating revenue of 34.981 billion yuan, up 20.3% year on year, and net profit attributable to shareholders of the listed company of 7.684 billion yuan, up 177.61% year on year. The earnings growth was mainly due to higher aluminum product selling prices during the reporting period. The company plans to distribute a cash dividend of 8.87 yuan, tax included, for every 10 shares to all shareholders.

Lida New Materials released its 2026 interim report on August 27, swinging to a profit for the period with a sharp improvement in operating cash flow. Data shows the company achieved operating revenue of 1.1 billion yuan, up 26.17 percent year on year. Net profit attributable to the parent company was 35.4981 million yuan, compared with a loss of 23.7944 million yuan in the same period last year. Net profit attributable to the parent company after deducting non-recurring items was 26.9622 million yuan, also turning from loss to profit. Net cash flow from operating activities was 47.6528 million yuan, a year-on-year surge of 1,268.97 percent. The revenue growth was mainly driven by the performance contributions of subsidiaries Anhui Lida and Zhaoqing Lida. Anhui Lida released production capacity and increased the share of high-end products, while Zhaoqing Lida saw higher business volume driven by food packaging demand. The company is offsetting cost pressure from high aluminum prices by optimizing its product mix and is actively laying out new energy battery current collector material projects, but it faces risks including raw material price fluctuations, a relatively large amount of accounts receivable, and international trade protection policies.

Yinbang Clad Material released its 2026 semi-annual report on August 27. During the reporting period, it achieved operating revenue of 4.27 billion yuan, up 49.1% year on year, and net profit attributable to shareholders of the listed company of 88.538 million yuan, up 95.08% year on year. The performance growth was mainly due to higher sales volume driving higher sales revenue. The company also disclosed that it plans no cash dividend, no bonus shares, and no conversion of capital reserve into share capital for the first half of 2026.

Yunnan Aluminum released its 2026 semi-annual report, achieving operating revenue of 34.981 billion yuan, up 20.3% year on year. Net profit attributable to shareholders of the listed company was 7.684 billion yuan, up 177.61% year on year. The profit growth was mainly due to higher selling prices for aluminum products during the reporting period. The company plans to distribute a cash dividend of 8.87 yuan, tax included, for every 10 shares to all shareholders. Second-quarter net profit was 4.084 billion yuan, up 13% quarter on quarter, in line with the previously guided range of 3.9 billion to 4.2 billion yuan.

Shunbo Alloy released its 2026 semi-annual report on the evening of August 26. The company achieved operating revenue of 8.447 billion yuan, up 18.54 percent year on year; net profit attributable to the parent company was 195 million yuan, up 6.02 percent year on year; basic earnings per share were 0.29 yuan. The company focuses on the comprehensive utilization of waste resources and advances a strategic layout driven by recycled cast aluminum alloy and recycled wrought aluminum alloy, coordinated with aluminum dross hazardous waste disposal. In the cast aluminum alloy segment, the company has established four major production bases in Hechuan, Chongqing; Qingyuan, Guangdong; Xiangyang, Hubei; and Ma'anshan, Anhui, with total capacity of 1.05 million tons, forming an operating network covering Southwest, South, East, and Central China. In the wrought aluminum alloy segment, the company has 50,000 tons of capacity at Chongqing Aobo and a 500,000-ton project under construction at Anhui Shunbo Phase II, which is gradually coming on stream and will further expand capacity and enrich the product structure.

Chalco released its 2026 semi-annual report, achieving operating revenue of 125.413 billion yuan, up 7.74% year on year; net profit attributable to shareholders of the listed company was 11.871 billion yuan, up 67.91% year on year. The company plans to distribute a cash dividend of 2.76 yuan per 10 shares, tax included, to all shareholders. Second-quarter net profit was 6.344 billion yuan, above the midpoint of the previously guided range of 5.673 billion to 6.673 billion yuan, up 14% quarter on quarter.

Yinbang Clad Material released its 2026 semi-annual report, achieving operating revenue of 4.27 billion yuan, up 49.1% year on year. Net profit attributable to shareholders of the listed company was 88.538 million yuan, up 95.08% year on year. The profit growth was mainly due to higher sales volume driving higher sales revenue. The company plans not to distribute cash dividends, not to issue bonus shares, and not to convert capital reserve into share capital. Notably, the company's second-quarter net profit was 34 million yuan, compared with 55 million yuan in the first quarter, implying a quarter-on-quarter decline of 38% in second-quarter net profit.