6-k 1Q

1934 ACT FILE NO. 001-15264


SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________

FORM 6-K
___________________

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934

For the month of April 2014
___________________

Aluminum Corporation of China Limited
(Translation of Registrant's name into English)
___________________

No. 62 North Xizhimen Street
Haidian District, Beijing
People's Republic of China 100082

(Address of principal executive offices)
___________________

         Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F      X       Form 40-F               

         Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1): __________

         Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7): __________

         Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes                No      X      

         If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-              


SIGNATURES

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Aluminum Corporation of China Limited         
                (Registrant)

 

Date  April 29, 2014       

 

By                 /s/    Xu Bo                     
Name: Xu Bo
Title: Company Secretary


Certain statements contained in this announcement may be regarded as "forward-looking statements" within the meaning of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Company's views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements, unless required by applicable laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this announcement.

 

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.


logo
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Aluminum Corporation of China Limited*
(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2600)

2014 FIRST QUARTERLY REPORT

This announcement is made by Aluminum Corporation of China Limited* (the "Company" or, together with its subsidiaries, the "Group") pursuant to Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

 

1.

IMPORTANT NOTICE

   
 

1.1

The board of directors, the supervisory committee, the directors, supervisors and senior management members of the Company guarantee the truthfulness, accuracy and completeness of this quarterly report, that it contains no false representation, misleading statement or material omission, and assume several and joint liabilities.

     
 

1.2

All the directors of the Company attended the Board meeting and reviewed the quarterly report.

     
 

1.3

Name of Person-in-charge of the Company

Xiong Weiping

   

Name of Person-in-charge of Accounting

Xie Weizhi

   

Name of Person-in-charge for the Accounting

Lu Dongliang

   

   Department (head of the Accounting Department)

 
       
   

Xiong Weiping, Person-in-charge of the Company, Xie Weizhi, Person-in-charge of Accounting, and Lu Dongliang, Head of the Accounting Department warrant the truthfulness, accuracy and completeness of the financial statements in this quarterly report.

     
 

1.4

The financial statements in the first quarterly report of the Company have not been audited.

     

2.

PRINCIPAL FINANCIAL INFORMATION OF THE COMPANY AND THE CHANGES OF SHAREHOLDERS

   
 

2.1

Principal financial information

     
   

Unit:'000   Currency: RMB

     
     

31 March 2014

31 December 2013

Increase/Decrease

         

(%)

           
   

Total assets

207,744,876

199,507,054

4.13

   

Net assets per share attributable

     
   

   to owners of the parent

42,294,330

44,357,725

-4.65

           
     

2014

2013

 
     

(January - March)

(January - March)

Increase/ Decrease

         

(%)

           
   

Net cash flow from operating activities

154,942

-1,091,020

N/A

           
     

2014

2013

 
     

(January - March)

(January - March)

Increase/ Decrease

         

(%)

           
   

Revenue

35,241,718

34,213,296

3.01

   

Profit attributable to owners of the parent

-2,156,527

-975,040

N/A

   

Profit attributable to owners of the parent

     
   

   after excluding extraordinary

     
   

   gains and losses

-2,233,123

-1,751,940

N/A

   

Weighted average rate of return

     
   

   on net assets (%)

-5.10

-2.28

N/A

   

Basic earnings per share (RMB per share)

-0.16

-0.07

N/A

   

Diluted earnings per share (RMB per share)

-0.16

-0.07

N/A

           
   

Deducting the gains and losses arising from extraordinary items and amount:

     
   

Unit: '000   Currency: RMB

     
     

2014

     

(January -

   

Items

March)

       
   

Gains/(Losses) on disposal of non-current assets

171

   

Government subsidies included in the gains and losses

 
   

   for the reporting period (excluding government subsidies

 
   

   closely related to the ordinary business of the Group and

 
   

   are granted on an ongoing basis under

 
   

   the state's policies according to

 
   

   certain standard amount or quantity)

62,226

   

Except for the hedging business that is related to the

 
   

   ordinary business of the Group, the fair value gains

 
   

   or losses arising from held-for-trading financial assets

 
   

   and liabilities and investment income on disposing

 
   

   held-for-trading financial assets and liabilities and

 
   

   available-for-sale financial assets

-38,376

   

Gains/(Losses) on external entrusted loans

11,044

   

Other non-operating income and expenses other

 
   

   than above items

71,346

   

Income tax effect

-21,987

   

Non-controlling interests effect (after tax)

-7,828

     


       
   

Total

76,596

     


       
 

2.2

Total number of shareholders, the top ten shareholders and the top ten shareholders not subject to trading moratorium as at the end of the reporting period

     
   

Unit: Share

     
   

Total number of shareholders

499,331

       
   

Shareholding status of top ten shareholders

     
           

Number

 
           

of shares

Number

         

Total

held subject

of shares

     

Nature of

Shareholding

number of

to trading

pledged or

   

Name of shareholders

shareholders

percentage

shares

moratorium

frozen

       

(%)

     
               
   

Aluminum Corporation of China

State-owned

38.56

5,214,407,195

0

None

   

HKSCC Nominees Limited

Foreign legal

29.02

3,924,887,434

0

Unknown

     

   person

       
   

China Cinda Asset

State-owned

4.44

600,000,000

0

None

   

   Management Co., Ltd.

   legal person

       
   

   ()

         
   

China Construction Bank Corporation

State-owned

4.11

556,066,216

0

None

     

   legal person

       
   

China Development Bank

State-owned

3.07

415,168,145

0

None

   

   Capital Corporation Ltd.

   legal person

       
   

   ()

         
   

Baotou Aluminum (Group) Co., Ltd.

State-owned

2.23

301,217,795

0

None

     

   legal person

       
   

Lanzhou Aluminum Factory

State-owned

0.59

79,472,482

0

None

     

   legal person

       
   

Shanghai Pudong Development Bank

State-owned

0.34

45,916,489

0

None

   

   - Changxin Jinli Trend Equity

   legal person

       
   

   Securities Investment Fund

         
   

   (

         
   

   )

         
   

Guizhou Provincial Materials

State-owned

0.34

45,800,000

0

29,000,000

   

   Development and Investment

   legal person

     

pledged

   

   Corporation

         
   

   ()

         
   

Guangxi Investment Group Co., Ltd.

State-owned

0.19

26,030,864

0

None

   

   ()

         
               
   

The top ten shareholders of tradable shares not subject to trading moratorium

     
     

Number of

 
     

tradable shares

 
     

not subject

 
     

to trading

 
     

moratorium held

 
     

as at the end

 
   

Name of shareholders (in full)

of the period

Class and number of shares

         
   

Aluminum Corporation of China [1]

5,214,407,195

RMB denominated

5,214,407,195

       

ordinary shares

 
   

HKSCC Nominees Limited

3,924,887,434

Overseas listed

3,924,887,434

       

foreign shares

 
   

China Cinda Assets Management Corporation

600,000,000

RMB denominated

600,000,000

       

ordinary shares

 
   

China Construction Bank Corporation Limited

556,066,216

RMB denominated

556,066,216

       

ordinary shares

 
   

Guokai Financial Limited Company

415,168,145

RMB denominated

415,168,145

       

ordinary shares

 
   

Baotou Aluminum (Group) Co., Ltd.

301,217,795

RMB denominated

301,217,795

       

ordinary shares

 
   

Lanzhou Aluminum Factory

79,472,482

RMB denominated

79,472,482

       

ordinary shares

 
   

Shanghai Pudong Development Bank

45,916,489

RMB denominated

45,916,489

   

   - Changxin Jinli Trend Equity

 

ordinary shares

 
   

   Securities Investment Fund

     
   

   (

     
   

   )

     
   

Guizhou Provincial Materials Development

45,800,000

RMB denominated

45,800,000

   

   and Investment Corporation

 

ordinary shares

 
   

Guangxi Investment Group Co., Ltd.

26,030,864

RMB denominated

26,030,864

       

ordinary shares

 
           
   

Connected relationship or concert-party

The number of shares of [1] does not contain the A shares of the Company

   

   relationship among the above shareholders

held indirectly by Batou Aluminum (Group) Co., Ltd., Lanzhou Aluminum Factory, Guiyang Aluminum Magnesium Design and Research Institute Co., Ltd. and Shanxi Aluminum Plant. Aluminum Corporation of China and its subsidiaries altogether hold 5,606,357,299 shares of the Company and 41.45% of voting rights.

       

3.

SIGNIFICANT EVENTS

   
 

3.1

Material changes in major accounting items and financial indicators and the reasons thereof

     
   

Applicable

Not Applicable

       
   

1.

Business tax and surcharges decreased by 33%, mainly attributable to the decrease in tax and surcharges following the decrease in circulation tax of the Group for the period.

       
   

2.

Loss of assets impairment increased by 21%, mainly attributable to the increase in the provision for inventory impairment of the Group.

       
   

3.

Loss in fair value changes increased by 165%, mainly attributable to the increase in the loss in fair value changes arising from futures contracts held by the Group.

       
   

4.

Investment income decreased by 24%, mainly attributable to the decrease in income in the associates and joint ventures of the Group as compared with the corresponding period last year.

       
   

5.

Non-operating income decreased by 86%, mainly attributable to the recognition of negative goodwill incurred from the incorporation of Ningxia Energy by the Group and the decrease in income from subsidies in the corresponding period last year.

       
   

6.

Non-operating expenses decreased by 39%, mainly attributable to the decrease in expenses on donations of the Group.

       
   

7.

Income tax expenses increased by 157%, mainly attributable to the fact that most of the losses of the Group are unrecognized as deferred income tax assets.

       
   

8.

Cash and cash equivalents increased by 30%, mainly attributable to the broadening of financing channel of the Group.

       
   

9.

Trade receivables increased by 42%, mainly attributable to the increase in accounts receivable.

       
   

10.

Interest receivable increased by 76%, mainly attributable to the interests from the consideration of the assets transfer and the sales of equity interests to Chinalco by the Group.

       
   

11.

Other current assets increased by 30%, mainly attributable to the increase of principal guaranteed wealth management products purchased by the Group to liquidize temporarily laid-up capital.

       
   

12.

Financial liabilities held for trading increased by 3870%, mainly attributable to the deficit in position of the futures at the end of the contract term.

       
   

13.

Notes payables increased by 55%, mainly attributable to a proper increase in settlement method of notes during procurement to respond to a tightening money market.

       
   

14.

Advances from customers increased by 34%, mainly attributable to the increase in sales, resulting in the increase in payments received in advance by the Group.

       
   

15.

Staff remuneration payables increased by 33%, mainly attributable to the delay in payment of social insurance premium of Ningxia Energy, a controlling subsidiary of the Group, which is dealing with the changes of its social insurance attribution.

       
   

16.

Long-term payables increased by 88%, mainly attributable to finance leasing obtained by Shanxi Huaze, a controlling subsidiary of the Group.

       
   

17.

Net cash flow from operating activities of the Group for the first quarter was RMB155 million of net inflow, representing an increase of RMB1.246 billion from net outflow of RMB1.091 billion in the same period last year, mainly attributable to the enhancement of management to current assets and current liabilities through transformation of operations of cash flow. On production and operation, the production cost of electrolytic aluminum and alumina, being the principal products, fell by approximately 3% and 7% respectively and the total of selling expense, administrative expense and finance expense decreased by approximately 10% as compared with the same period last year in the first quarter, mainly attributable to a strict control of cost and expenses in every aspect of the Group. However, due to the overcapacity of electrolytic aluminium, the selling prices of electrolytic aluminum and alumina of the Company decreased by approximately 10% and 5% as compared with the same period last year, respectively, resulting in an increase of approximately RMB1,300 million in the amount of loss.

       
 

3.2

Progress of significant events and effects thereof and analysis on solutions

     
   

Applicable

Not Applicable

       
 

3.3

Implementation of undertakings by the Company and its shareholders with shareholding of 5% or more

     
   

Applicable

Not Applicable

       
   

Aluminum Corporation of China (hereafter referred to as "Chinalco") undertook that the Company would arrange to dispose of its aluminum fabrication business or acquire aluminum fabrication business from Chinalco and would acquire the pseudo-boehmite business from Chinalco within a certain period of time following the listing of the Company's A shares.

     
   

In 2013, the horizontal competition in the aluminum fabrication business was solved through the adjustment of the development strategy by the Company, during which the eight aluminum fabrication enterprises such as Chalco Henan Aluminum Co., Limited, as well as Northwest Aluminum Fabrication Branch () were disposed to Chinalco in entirety. Up till now, both Shanxi Aluminum Plant, a wholly-owned subsidiary of Chinalco, and the Shandong branch of the Company had minor activities in the pseudo-boehmite business. However, as the pseudo-boehmite business is not among the principal activities of the Company, and the pseudo-boehmite business in Shanxi Aluminum Plant of Chinalco was of a small scale, the acquisition of such assets will incur additional cash expenditure and will not improve the Company's performance.

     
   

The Company and Chinalco will strive to resolve the problem of horizontal competition on pseudo-boehmite business as the opportune time arises with reference to the market situations within five years since 1 January 2014.

     
   

In 2013, the Company had transferred the relevant assets of the alumina production line of Guizhou Branch to Chinalco, which resulted in a new horizontal competition on alumina business between the Company and Chinalco. Chinalco undertook that it will halt production within three years till 30 June 2016 after taking over alumina assets in Guizhou Branch as the solution to the horizontal competition.

     
 

3.4

Warning on any potential loss in accumulated net profit for the period from the beginning of the year to the end of the next reporting period or any material change from the corresponding period last year and the reason thereof

     
   

Applicable

Not Applicable

       
   

The Company expects to record loss for the period from the beginning of the year to the end of next reporting period due to severe overcapacity of aluminum as well as the continuous depression of the market prices of products. Details will be disclosed in the interim report of the Company for 2014.

     

 

Aluminum Corporation of China Limited*

 

Legal representative: Xiong Weiping

 

29 April 2014

   

4.

APPENDICES

   
 

Consolidated Balance Sheet

 

As at 31 March 2014

 

Prepared by: Aluminum Corporation of China Limited*

   
 

Unit: '000   Currency: RMB

   
   

31 March

31 December

 

Items

2014

2013

       
 

Current assets:

   
 

   Cash and cash equivalents

16,112,560

12,425,853

 

   Settlement reserve

   
 

   Placements with banks and

   
 

      other financial institutions

   
 

   Held-for-trading financial assets

24

23

 

   Notes receivable

2,344,553

2,142,453

 

   Accounts receivable

5,699,899

4,014,152

 

   Prepayments

7,060,621

5,805,619

 

   Premiums receivable

   
 

   Receivables from reinsurers

   
 

   Deposits receivable from

   
 

      reinsurance agreements

   
 

   Interest receivable

520,053

294,748

 

   Dividends receivable

125,135

125,135

 

   Other receivables

12,364,886

11,674,138

 

   Purchases of resold financial assets

   
 

   Inventories

23,030,339

23,535,948

 

   Non-current assets due within one year

28,000

28,000

 

   Other current assets

3,922,471

3,019,352

   



       
 

Total current assets

71,208,541

63,065,421

   



       
 

Non-current assets:

   
 

   Entrusted loans and advances granted

   
 

   Financial assets available for sale

   
 

   Held-to-maturity investments

   
 

   Long-term receivables

   
 

   Long-term equity investments

7,111,219

6,984,771

 

   Investment properties

   
 

   Fixed assets

83,231,967

85,145,430

 

   Construction in progress

17,203,693

15,190,275

 

   Construction materials

277,181

270,267

 

   Disposals of fixed assets

   
 

   Biological assets for production

   
 

   Oil and gas assets

   
 

   Intangible assets

11,166,948

11,251,410

 

   Development expenses

   
 

   Goodwill

2,345,063

2,344,953

 

   Long-term deferred expenditures

297,559

281,904

 

   Deferred income tax assets

1,824,847

1,793,310

 

   Other non-current assets

13,077,858

13,179,313

 

   Total non-current assets

136,536,335

136,441,633

   



       
 

   Total assets

207,744,876

199,507,054

   



       
 

Current liabilities:

   
 

   Short-term borrowings

44,579,147

47,146,473

 

   Borrowings from central bank

   
 

   Deposit taking and deposit in

   
 

      inter-bank market

   
 

   Placements from banks and

   
 

      other financial institutions

   
 

   Held-for-trading financial liabilities

77,304

1,947

 

   Notes payable

5,619,030

3,631,144

 

   Accounts payable

9,273,201

8,770,506

 

   Payments received in advance

2,102,179

1,565,691

 

   Disposal of repurchased financial assets

   
 

   Handling charges and commissions payable

   
 

   Staff remuneration payable

486,593

365,944

 

   Taxes payable

520,743

557,377

 

   Interest payable

813,958

726,064

 

   Dividends payable

108,251

108,251

 

   Other payables

6,471,401

6,965,626

 

   Reinsurance accounts payable

   
 

   Deposits for insurance contracts

   
 

   Agent brokerage fee

   
 

   Agent underwriting fee

   
 

   Non-current liabilities due within one year

11,291,084

11,612,587

 

   Other current liabilities

19,285,804

15,285,971

   



       
 

Total current liabilities

100,628,695

96,737,581

   



       
 

Non-current liabilities:

   
 

   Long-term borrowings

29,711,953

26,974,618

 

   Debentures payable

22,317,200

19,320,210

 

   Long-term payables

1,445,181

767,157

 

   Special payables

140,080

119,080

 

   Projected liabilities

96,632

98,792

 

   Deferred income tax liabilities

1,083,109

1,088,150

 

   Other non-current liabilities

683,046

699,347

 

   Total non-current liabilities

55,477,201

49,067,354

   



       
 

   Total liabilities

156,105,896

145,804,935

   



       
 

Owner's equity (or shareholder's equity):

   
 

   Paid-up capital (or share capital)

13,524,488

13,524,488

 

   Capital reserve

13,743,094

13,743,094

 

   Less: Treasury stock

   
 

   Special reserve

186,210

146,200

 

   Surplus reserve

5,867,557

5,867,557

 

   General risk provision

   
 

   Retained earnings

9,171,260

11,327,787

 

   Foreign currency translation differences

-198,279

-251,401

 

   Total owner's equity attributable to

   
 

      the owners of the parent

42,294,330

44,357,725

 

   Non-controlling interest

9,344,650

9,344,394

   



       
 

   Total owner's equity

51,638,980

53,702,119

   



       
 

Total liabilities and owner's equity

207,744,876

199,507,054

   



       
   

Person-in-charge

Head of Accounting

 

Legal Representative:

of Accounting:

Department:

 

Xiong Weiping

Xie Weizhi

Lu Dongliang

       
 

Balance Sheet of the Parent Company

 

As at 31 March 2014

 

Prepared by: Aluminum Corporation of China Limited*

   
 

Unit: '000   Currency: RMB

   
   

31 March

31 December

 

Items

2014

2013

       
 

Current assets:

   
 

   Cash and cash equivalents

10,086,647

5,207,329

 

   Held-for-trading financial assets

   
 

   Notes receivable

807,184

408,578

 

   Accounts receivable

2,679,479

1,622,687

 

   Prepayments

348,782

584,279

 

   Interest receivable

428,602

295,027

 

   Dividends receivable

217,180

217,180

 

   Other receivables

8,169,826

7,629,382

 

   Inventories

12,149,092

12,265,310

 

   Non-current assets due within one year

28,000

28,000

 

   Other current assets

807,610

914,368

   



       
 

Total current assets

35,722,402

29,172,140

   



       
 

Non-current assets:

   
 

   Financial assets available for sale

   
 

   Held-to-maturity investments

   
 

   Long-term receivables

   
 

   Long-term equity investments

27,919,156

27,903,030

 

   Investment properties

   
 

   Fixed assets

46,413,383

47,349,667

 

   Construction in progress

4,063,556

3,790,443

 

   Construction materials

42,326

36,975

 

   Disposal of fixed assets

   
 

   Biological assets for production

   
 

   Oil and gas assets

   
 

   Intangible assets

2,464,282

2,507,098

 

   Development expenses

   
 

   Goodwill

2,330,945

2,330,945

 

   Long-term deferred expenditures

144,196

127,962

 

   Deferred income tax assets

1,217,016

1,202,232

 

   Other non-current assets

4,801,178

4,801,174

 

   Total non-current assets

89,396,038

90,049,526

   



       
 

   Total assets

125,118,440

119,221,666

   



       
 

Current liabilities:

   
 

   Short-term borrowings

24,905,000

25,810,000

 

   Held-for-trading financial liabilities

   
 

   Notes payable

   
 

   Accounts payable

5,393,503

4,893,450

 

   Payments received in advance

527,588

385,315

 

   Staff remuneration payables

272,199

211,752

 

   Taxes payable

136,818

172,421

 

   Interests payable

590,209

589,828

 

   Dividends payable

   
 

   Other payables

3,101,842

4,321,838

 

   Non-current liabilities due within one year

6,229,940

6,294,940

 

   Other current liabilities

19,276,205

15,275,680

   



       
 

   Total current liabilities

60,433,304

57,955,224

   



       
 

Non-current liabilities:

   
 

   Long-term borrowings

7,099,408

4,984,408

 

   Debentures payable

21,929,447

18,920,210

 

   Long-term payables

   
 

   Special payables

112,780

91,780

 

   Projected liabilities

   
 

   Deferred income tax liabilities

   
 

   Other non-current liabilities

397,287

400,952

 

   Total non-current liabilities

29,538,922

24,397,350

   



       
 

   Total liabilities

89,972,226

82,352,574

   



       
 

Owner's equity (or shareholder's equity):

   
 

   Paid-up capital (or share capital)

13,524,488

13,524,488

 

   Capital reserve

14,645,595

14,645,595

 

   Less: Treasury stock

   
 

   Special reserve

56,786

54,112

 

   Surplus reserve

5,867,557

5,867,557

 

   General risk provision

   
 

   Retained earnings

1,051,788

2,777,340

   



       
 

   Total owner's equity

   
 

      (or shareholder's equity)

35,146,214

36,869,092

   



       
 

   Total liabilities and owners' equity

   
 

      (or shareholder's equity)

125,118,440

119,221,666

   



       
   

Person-in-charge

Head of Accounting

 

Legal Representative:

of Accounting:

Department:

 

Xiong Weiping

Xie Weizhi

Lu Dongliang

       
 

Consolidated Income Statement

 

January to March 2014

   
 

Unit: '000   Currency: RMB

   
   

2014

2013

 

Items

January to March

January to March

       
 

I.

Total operating revenue

35,241,718

34,213,296

   

Including:

Operating revenue

35,241,718

34,213,296

     

Interest income

   
     

Premiums earned

   
     

Handling charges and

   
     

   commission income

   
           
 

II.

Total cost of operations

37,690,839

36,319,071

   

Including:

Operating cost

35,012,918

33,404,017

     

Interest expenses

   
     

Handling charges and

   
     

   commission expenses

   
     

Returned premium

   
     

Net expenditure for

   
     

   compensation payments

   
     

Net provision for insurance deposits

   
     

Policyholder dividend expenses

   
     

Reinsurance costs

   
     

Business tax and surcharges

55,615

83,233

     

Selling expenses

420,349

457,625

     

Administrative expenses

621,172

645,200

     

Finance expenses

1,325,754

1,517,509

     

Loss on assets impairment

255,031

211,487

   

Add:

Gains on fair value changes

   
     

   (loss stated with "-")

-75,576

-28,543

     

Investment income

   
     

   (loss stated with "-")

177,274

234,330

     

Including:

Investment income

   
       

   from associated

   
       

   companies and

   
       

   joint ventures

125,604

198,861

     

Foreign currency

   
     

   exchange gains

   
     

   (loss stated with "-")

   
           
 

III.

Operating profit (loss stated with "-")

-2,347,423

-1,899,988

   

Add:

Non-operating income

133,917

958,079

   

Less:

Non-operating expenses

3,599

5,929

     

Including:

Loss from disposal

   
       

   of non-current assets

6

41

 

IV.

Total profit (total loss stated with "-")

-2,217,105

-947,838

   

Less:

Income tax expenses

16,433

-28,995

           
 

V.

Net profit (net loss stated with "-")

-2,233,538

-918,843

   

Net profit attributable to owners

   
   

   of the parent

-2,156,527

-975,040

   

Non-controlling interests

-77,011

56,197

         
 

VI.

Earnings per share:

   
   

(i)   Basic earnings per share

-0.16

-0.07

   

(ii)   Diluted earnings per share

-0.16

-0.07

         
 

VII.

Other comprehensive income

53,122

-44,237

         
 

VIII.

Total comprehensive income

-2,180,416

-963,080

   

Total comprehensive income attributable

   
   

   to owners of the parent

-2,103,405

-1,019,277

   

Total comprehensive income attributable to

   
   

   non-controlling shareholder

-77,011

56,197

         
 

Legal Representative:

of Accounting:

Department:

 

Xiong Weiping

Xie Weizhi

Lu Dongliang

       
 

Income Statement of the Parent Company

 

January to March 2014

   
 

Unit: '000   Currency: RMB

   
   

2014

2013

 

Items

January to March

January to March

       
 

I.

Operating revenue

10,226,239

11,281,182

   

Less:

Operating costs

10,558,709

11,178,820

     

Business tax and surcharges

31,798

52,139

     

Selling expenses

266,933

253,389

     

Administrative expenses

338,418

319,102

     

Finance expenses

804,081

773,650

     

Loss on assets impairment

54,109

99,909

   

Add:

Gains on fair value changes

   
     

   (loss stated with "-")

0

11,222

     

Investment income (loss stated with "-")

25,026

844

     

Including:

Investment income from associated

   
       

   companies and joint ventures

14,904

-21,465

             
 

II.

Operating profit (loss stated with "-")

-1,802,783

-1,383,761

   

Add:

Non-operating income

63,557

154,440

   

Less:

Non-operating expenses

1,110

3,888

     

Including:

Loss from disposal of

   
       

   non-current assets

6

4

             
 

III.

Total profit (total loss stated with "-")

-1,740,336

-1,233,209

   

Less:

Income tax expenses

-14,784

14,011

           
 

IV.

Net profit (net loss stated with "-")

-1,725,552

-1,247,220

         
 

V.

Earnings per share:

   
   

(i)   Basic earnings per share

   
   

(ii)   Diluted earnings per share

   
         
 

VI.

Other comprehensive income

   
         
 

VII.

Total comprehensive income

-1,725,552

-1,247,220

         
   

Person-in-charge

Head of Accounting

 

Legal Representative:

of Accounting:

Department:

 

Xiong Weiping

Xie Weizhi

Lu Dongliang

       
 

Consolidated Cash Flow Statement

 

January to March 2014

   
 

Unit: '000   Currency: RMB

   
   

2014

2013

 

Items

January to March

January to March

       
 

I.

Cash flow from operating activities:

   
   

Cash received from product sales and

   
   

   rendering of services

39,881,635

40,166,561

   

Net increase in deposits from

   
   

   customers and placements from banks

   
   

   and other financial institutions

   
   

Net increase in borrowings from central bank

   
   

Net increase in placements from

   
   

   other financial institutions

   
   

Cash received from premiums

   
   

   of original insurance contracts

   
   

Net cash received from reinsurance business

   
   

Net increase in deposits from

   
   

   policyholders and investments

   
   

Net increase in disposal of

   
   

   held-for-trading financial assets

   
   

Cash received from interest,

   
   

   handling charges and commissions

   
   

Net increase in capital due to

   
   

   banks and other financial institutions

   
   

Net increase in repurchases

   
   

Refund of tax and levies received

13,566

40,360

   

Other cash received relating

   
   

   to operating activities

206,970

384,116

   

Sub-total of cash inflow

   
   

   from operating activities

40,102,171

40,591,037

   

Cash paid for purchase of

   
   

   goods and receipt of services

36,032,724

36,719,807

   

Net increase in loans and advances to customers

   
   

Net increase in placements with central bank

   
   

   and other financial institutions

   
   

Cash paid for claims on

   
   

   original insurance contracts

   
   

Cash payment for interest, handling

   
   

   charges and commissions

   
   

Cash payment for policyholder dividend

   
   

Cash paid to and on behalf of employees

1,422,913

1,904,542

   

Taxes and surcharges paid

751,104

583,207

   

Other cash paid relating to operating activities

1,740,488

2,474,501

   

Sub-total of cash outflow from

   
   

   operating activities

39,947,229

41,682,057

     



         
   

Net cash flow from operating activities

154,942

-1,091,020

     



         
 

II.

Cash flows from investment activities:

   
   

Cash received from disposal of investments

 

16,806

   

Cash received from returns on investments

44,633

269,242

   

Net cash received from disposal of fixed assets,

   
   

   intangible assets and other long-term assets

603

203,388

   

Net cash received from disposal of subsidiaries

   
   

   and other operating entities

10,000

 
   

Other cash received relating to

   
   

   investment activities

259,106

31,846

   

Sub-total of cash inflow from

   
   

   investment activities

314,342

521,282

   

Cash paid to acquire fixed assets,

   
   

   intangible assets and other long-term assets

2,008,523

2,420,930

   

Cash paid for investment

1,169,686

234,412

   

Net increase in pledged loans

   
   

Net cash paid for acquisition of

   
   

   subsidiaries and other operating entities

29,136

403,187

   

Other cash paid relating to investment activities

88,046

1,099,874

   

Sub-total of cash outflow from

   
   

   investment activities

3,295,391

4,158,403

     



         
   

Net cash flows from investment activities

-2,981,049

-3,637,121

     



         
 

III.

Cash flow from financing activities:

   
   

Proceeds received from investments

48,031

 
   

Including:

Proceeds received by subsidiaries

   
     

   from non-controlling

   
     

   shareholders' investment

48,031

 
   

Cash received from borrowings

15,891,256

20,884,209

   

Cash received from issue of debentures

14,000,000

5,971,500

   

Other cash received relating to

   
   

   financing activities

21,000

365,400

   

Sub-total of cash inflow from

   
   

   financing activities

29,960,287

27,221,109

   

Cash paid for repayment

22,120,228

18,100,772

   

Cash paid for dividend and profit

   
   

   distribution or interest repayment

1,449,596

1,569,160

   

Including:

Dividend and profit paid

   
     

   by subsidiaries to

   
     

   non-controlling shareholders

   
   

Other cash paid relating to financing activities

33,000

470,689

   

Sub-total of cash outflow from

   
   

   financing activities

23,602,824

20,140,621

     



         
   

Net cash flows from financing activities

6,357,463

7,080,488

     



         
 

IV.

Effect on cash and cash equivalents due to

   
   

   change in foreign currency exchange rate

-64,280

-3,484

         
 

V.

Net increase in cash and cash equivalents

3,467,076

2,348,863

   

Add:

Balance of cash and

   
     

   cash equivalents at

   
     

   the beginning of the period

11,381,695

9,063,593

           
 

VI.

Balance of cash and cash equivalents at

   
   

   the end of the period

14,848,771

11,412,456

         
   

Person-in-charge

Head of Accounting

 

Legal Representative:

of Accounting:

Department:

 

Xiong Weiping

Xie Weizhi

Lu Dongliang

       
 

Cash Flow Statement of the Parent Company

 

January to March 2014

   
 

Unit: '000   Currency: RMB

   
   

2014

2013

 

Items

January to March

January to March

       
 

I.

Cash flow from operating activities:

   
   

Cash received from product sales

   
   

   and rendering of services

10,651,583

13,117,368

   

Refund of tax and levies received

13,566

14,431

   

Other cash received relating to

   
   

   operating activities

84,713

174,676

   

Sub-total of cash inflow from

   
   

   operating activities

10,749,862

13,306,475

   

Cash paid for purchase of goods and

   
   

   receipt of services

10,884,012

12,342,654

   

Cash paid to and on behalf of employees

933,205

1,130,131

   

Taxes and surcharges paid

405,648

653,589

   

Other cash paid relating to operating activities

791,994

666,418

   

Sub-total of cash outflow from

   
   

   operating activities

13,014,859

14,792,792

     



         
   

Net cash flow from operating activities

-2,264,997

-1,486,317

     



         
 

II.

Cash flows from investment activities:

   
   

Cash received from disposal of investments

   
   

Cash received from returns on investments

6,731

12,160

   

Net cash received from disposal of fixed assets,

   
   

   intangible assets and other long-term assets

 

56,705

   

Net cash received from disposal of subsidiaries

   
   

   and other operating entities

10,000

 
   

Other cash received relating to

   
   

   investment activities

1,023,000

 
   

Sub-total of cash inflow from

   
   

   investment activities

1,039,731

68,865

   

Cash paid to acquire fixed assets, intangible

   
   

   assets and other long-term assets

561,184

863,190

   

Cash paid for investment

17,200

583,000

   

Net cash paid for acquisition of

   
   

   subsidiaries and other operating entities

 

4,387,630

   

Other cash paid relating to investment activities

650,000

21,087

   

Sub-total of cash outflow from

   
   

   investment activities

1,228,384

5,854,907

     



         
   

Net cash flows from investment activities

-188,653

-5,786,042

     



         
 

III.

Cash flows from financing activities:

   
   

Proceeds received from investments

   
   

Cash received from borrowings

6,895,000

7,900,000

   

Cash received from bond issue

14,000,000

6,000,000

   

Other cash received relating to

   
   

   financing activities

21,000

365,400

   

Sub-total of cash inflow from

   
   

   financing activities

20,916,000

14,265,400

   

Cash paid for repayment

12,754,575

7,103,000

   

Cash paid for dividend and profit

   
   

   distribution or interest repayment

800,752

550,941

   

Other cash paid relating to financing activities

12,000

 
   

Sub-total of cash outflow from

   
   

   financing activities

13,567,327

7,653,941

     



         
   

Net cash flows from financing activities

7,348,673

6,611,459

     



         
 

IV.

Effect on cash and cash equivalents due to

   
   

   change in foreign currency exchange rate

-383

53

         
 

V.

Net increase in cash and cash equivalents

4,884,640

-660,847

   

Add:

Balance of cash and cash

   
     

   equivalents at the beginning

   
     

   of the period

4,894,640

4,396,234

           
 

VI.

Balance of cash and cash equivalents at

   
   

   the end of the period

9,785,607

3,735,387

         
   

Person-in-charge

Head of Accounting

 

Legal Representative:

of Accounting:

Department:

 

Xiong Weiping

Xie Weizhi

Lu Dongliang

       

 

By order of the board of directors

 

Aluminum Corporation of China Limited*

 

Xu Bo

 

Company Secretary

   

Beijing, the PRC

 

29 April 2014

 
   

As at the date of this announcement, the members of the board of directors comprise Mr. Xiong Weiping, Mr. Luo Jianchuan, Mr. Liu Xiangmin and Mr. Jiang Yinggang (Executive Directors); Mr. Wang Jun (Non-executive Director); Mr. Wu Jianchang, Mr. Ma Si-hang, Frederick and Mr. Wu Zhenfang (Independent Non-executive Directors).

 

*   For identification purpose only

 

About the Company

Our contact information of this release is:

*

Business address: No. 62 North Xizhimen Street, Haidian District, Beijing, People's Republic of China, 100082

*

Telephone number: (86-10) 8229 8103

*

Website: http://www.chalco.com.cn

*

Contact person: Xu Bo, Company Secretary