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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1145926499?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-30 11:58","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1145926499","market":"hk","top_or_hot":-1,"title":"Stock Track | Chinese Aluminum Giant CHALCO Plunges Over 10% on Disappointing Q3 Earnings","media":"Stock Track","content":"<p>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.</p>\n\n<p>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.</p>\n\n<p>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.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Chinese Aluminum Giant CHALCO Plunges Over 10% on Disappointing Q3 Earnings</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Chinese Aluminum Giant CHALCO Plunges Over 10% on Disappointing Q3 Earnings\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-30 11:58 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>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....</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%. 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  for the third quarter. However, after excluding extraordinary gains and losses","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"02600":"中国铝业"},"translate_title":"股票追踪中国铝业巨头中国铝业因第三季度盈利令人失望而暴跌逾10%","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02600":1},"content_text":"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.\nCHALCO'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.\nDespite 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.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1145926499"}