Chalco Completes Capital Contribution to Yunnan Aluminum Foil; Shares Fall 5%

MT Newswires Live12-16

Aluminum Corporation of China (HKG:2600, SHA:601600), or Chalco, said capital contributions by its units to Yunnan Aluminum Foil have been fully completed, according to a Monday Hong Kong bourse filing.

Hong Kong-listed shares of the aluminum producer were down nearly 5% in Tuesday morning trading.

The capital contribution totals 906.5 million yuan and will fund Yunnan Aluminum Foil's investment in a new-energy high-precision aluminum sheet, strip, and foil project.

Chalco said cash contributions have been paid in full, while land, fixed assets, claims, and liabilities contributed by Kunming Copper have also been transferred.

The board said the investment is expected to extend the aluminum value chain, enhance long-term profitability, and support China's "dual-carbon" strategy.

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