Aluminum Corporation of China (2600) Q3 2026 earnings summary

Executive summary

• Q3 2026 revenue was RMB61.181bn, up 1.74% YoY; total profit reached RMB12.498bn, up 66.08% YoY.

• 9M revenue was RMB186.594bn, up 5.69% YoY; total profit was RMB38.728bn, up 86.44% YoY.

• Management attributed stronger results to cost reduction and efficiency measures, stable high-quality production, improved market monetization and whole-chain advantages.

Financial highlights

• Q3 net profit attributable to shareholders was RMB6.044bn, up 59.10% YoY; adjusted to exclude extraordinary items, it was RMB5.993bn, up 58.86%.

• 9M net profit attributable to shareholders was RMB17.916bn, up 64.83% YoY; adjusted to exclude extraordinary items, it was RMB17.643bn, up 64.68%.

• 9M consolidated operating revenue was RMB186.594bn versus RMB176.545bn restated; operating profit was RMB38.769bn versus RMB20.784bn.

• 9M consolidated net profit was RMB31.970bn versus RMB17.293bn restated; parent-attributable net profit was RMB17.916bn versus RMB10.869bn.

Segment performance

• 9M metallurgical-grade alumina output was 11.29m tonnes, down 13.42% YoY; refined alumina output was 3.47m tonnes, up 6.12%.

• Self-produced metallurgical-grade alumina external sales were 3.93m tonnes, down 19.96% YoY.

• Primary aluminum output, including alloys, was 6.08m tonnes, up 1.33% YoY; external sales were 6.08m tonnes, up 1.50%.

• Coal output was 9.79m tonnes, down 0.61% YoY; external power generation was 12.1bn kWh, down 5.47%.