Aluminum Corporation of China SEHK:2600 Stock Report

Aluminum Corporation of China Limited to Report First Half, 2022 Results on Aug 23, 2022

Aluminum Corporation of China Limited announced that they will report first half, 2022 results on Aug 23, 2022

Aluminum Corporation of China Limited Announces Change of Company Secretary

The board of directors (Board) of Aluminum Corporation of China Limited (Company) announced that Mr. Wang Jun proposed to resign as the company secretary of the Company due to personal reasons, and the resignation of Mr. Wang Jun as the company secretary has been approved at the second meeting of the eighth session of the Board convened by the Company on 24 July 2022 with immediate effect. The appointment of Mr. Ge Xiaolei ("Mr. Ge") and Ms. Ng Ka Man ("Ms. Ng") as joint company secretaries of the Company has been approved at the second meeting of the eighth session of the Board of the Company with immediate effect. Mr. Ge Xiaolei, aged 56, has been appointed as the chief financial officer and secretary to the Board of the Company with effect from 22 March 2022. Mr. Ge graduated from Nanjing University majoring in economic management, and subsequently obtained a master's degree in business administration from the University of Texas in the United States. He is a senior economist, an intermediate accountant and an Affiliated Person of The Hong Kong Chartered Governance Institute. Mr. Ge has extensive experience in financial management and corporate management. He has successively served as the deputy head of the planning division and deputy head of the finance division of Zhongzhou Aluminum Plant, the deputy chief accountant and manager of the finance department of the Company's Zhongzhou Branch, the chief financial officer of Qinghai Yellow River Hydropower Renewable Aluminum Co. Ltd., the deputy general manager of Chinalco Finance Co. Ltd. and the director and general manager of Chinalco Finance Lease Co. Ltd., the general manager of Chinalco Finance Co. Ltd., a director of Chinalco Finance Lease Co. Ltd. and a director of Agricultural Bank Huili Fund Management Co. Ltd., the secretary of the party committee and chairman of Chinalco Capital Holdings Co. Ltd., the chairman of Chinalco Finance Co. Ltd. and a director of Agricultural Bank Huili Fund Management Co. Ltd. Ms. Ng Ka Man is a manager of the Listing Services Department of TMF Hong Kong Limited and is responsible for provision of corporate secretarial and compliance services to listed company clients. Ms. Ng has over 15 years of experience in the company secretarial field. She is a member of The Hong Kong Chartered Governance Institute (formerly known as The Hong Kong Institute of Chartered Secretaries) and The Chartered Governance Institute (formerly known as The Institute of Chartered Secretaries and Administrators) in the United Kingdom. As Mr. Ge currently does not possess the qualifications of company secretary as required under Rules 3.28 and 8.17 of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), the Company has applied to the Hong Kong Stock Exchange and the Hong Kong Stock Exchange has granted a waiver (the "Waiver") to the Company in respect of the appointment of Mr. Ge and Ms. Ng as joint company secretaries of the Company for a period commencingfrom 24 July 2022 to 23 July 2025.

Consensus forecasts updated

The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from CN¥0.46 to CN¥0.41 per share. Revenue forecast steady at CN¥286.8b. Net income forecast to grow 26% next year vs 23% growth forecast for Metals and Mining industry in Hong Kong. Consensus price target down from HK$5.83 to HK$5.65. Share price fell 3.8% to HK$2.81 over the past week.

Aluminum Corporation of China Limited Approves Final Dividend for the Year Ended December 31, 2021, Payable on August 22, 2022