Tianshan Aluminum Group (002532) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached ¥15.33 billion, up 11.19% year-over-year, with net profit attributable to shareholders at ¥2.08 billion, a 0.51% increase year-over-year.

• Operating cash flow rose 47.09% year-over-year to ¥3.28 billion, reflecting strong cash generation.

• The company maintained a vertically integrated aluminum value chain, enhancing cost competitiveness and risk resilience.

• Major projects advanced, including domestic and overseas bauxite and alumina developments, and a 140,000-ton green aluminum capacity upgrade.

Financial highlights

• Revenue: ¥15.33 billion, up 11.19% year-over-year; net profit attributable to shareholders: ¥2.08 billion, up 0.51%.

• Gross margin for the aluminum segment was 20.22%, down 1.61 percentage points year-over-year.

• Operating cash flow: ¥3.28 billion, up 47.09% year-over-year.

• Basic and diluted EPS: ¥0.45, unchanged year-over-year.

• Net assets attributable to shareholders: ¥27.87 billion, up 3.89% from year-end 2024.

Outlook and guidance

• The company expects further cost advantages as self-supplied bauxite and alumina projects ramp up.

• The 140,000-ton green aluminum project is expected to complete within 10 months, boosting annual output.

• Ongoing expansion in downstream aluminum foil and high-purity aluminum is set to drive future growth.