Stock Track | Chinese Aluminum Giant CHALCO Plunges Over 10% on Disappointing Q3 Earnings

Stock Track10-30

Shares of Aluminum Corp. of China Ltd. (CHALCO), one of China's largest aluminum producers, took a significant hit on Wednesday after the company reported underwhelming third-quarter earnings results.

CHALCO's Hong Kong-listed shares plummeted as much as 10%, while its Shanghai-listed shares plunged 8.0%. The steep decline came as the state-owned company posted a 3.3% year-over-year increase in net profit to 2.00 billion yuan ($280.4 million) for the third quarter. However, after excluding extraordinary gains and losses, profits were actually down 9.1% compared to the same period last year, missing analysts' expectations by a significant margin.

Despite a 16% increase in revenue to 63.06 billion yuan, CHALCO's gross profit fell from the previous quarter. Analysts at Citi Research attributed the decline to factors such as depreciation adjustments in aluminum smelting assets, adjustments related to power surcharge, and adjustments in bauxite reserves.

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(CHALCO), one of China's largest aluminum producers, took a significant hit on Wednesday after the company reported underwhelming third-quarter earnings results....</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"02600","symbol_name":"中国铝业","start_time":0,"source_url":"","article_id":"1145926499","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1145926499","pubTimestamp":1730260722,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Aluminum Corp. of China Ltd. , one of China's largest aluminum producers, took a significant hit on Wednesday after the company reported underwhelming third-quarter earnings results.CHALCO's Hong Kong-listed shares plummeted as much as 10%, while its Shanghai-listed shares plunged 8.0%. 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