Chinese aluminum giant revenue hits fresh high in H1

BEIJING - China's largest aluminum producer, Aluminum Corporation of China (Chinalco), saw its half-year revenue reach a record high of over 170 billion yuan ($24.7 billion) in the first half of 2019.

The reading was up 26.5 percent year-on-year, while the company achieved a year-on-year increase of 31.8 percent in its H1 profits, with net profit up over 40 percent from a year ago, Chinalco reported at its mid-year work conference.

Facing shrinking profit margins and downward pressure of the industry, the world-leading nonferrous enterprise remained profitable, reporting growth in all of its major business segments, the company said.

The State-owned enterprise attributed the gains to bold reforms in improving its growth quality, and opening a new market via the development of high value-added products.

Chinalco-owned Aluminum Corporation of China Limited saw its half-year sales of high purity aluminum and fine alumina up 40 percent and 9 percent, respectively, as a world-leading supplier of aluminum products.