Aluminum Corp of China Ltd

Aluminum Corporation of China announced that its controlling shareholder, Chinalco Group, and its concerted parties have cumulatively increased their stake in the company by 77.36 million shares, representing 0.45% of the total share capital, with a total consideration of approximately 659 million yuan. In the first quarter of 2026, the company achieved revenue of 58.494 billion yuan and net profit attributable to the parent of 5.527 billion yuan.

Over the past week, Shanghai-listed companies launched 42 new buyback plans with a maximum value of 8.386 billion yuan, and 17 new shareholding increase plans with a maximum value of 7.457 billion yuan, marking a clear acceleration in industrial capital entering the market. The chairman of NARI Technology proposed a buyback of 500 million to 1 billion yuan worth of shares, the chairman of Daqin Railway proposed a buyback of 400 million to 500 million yuan, Sany Heavy Industry plans to repurchase A-shares worth 400 million to 800 million yuan, and Yifeng Pharmacy Chain plans to repurchase shares worth 200 million to 300 million yuan. On the shareholding increase side, the controlling shareholder of China Three Gorges Renewables plans to increase holdings by 1.5 billion to 3 billion yuan, the controlling shareholder of Aluminum Corporation of China plans to increase holdings by 1 billion to 2 billion yuan, and the controlling shareholder of China State Construction Engineering plans to increase holdings by 500 million to 1 billion yuan. Since the beginning of this year, Shanghai-listed companies have disclosed 190 new buyback plans with a total maximum value of 55.5 billion yuan, and 155 new shareholding increase plans with a total maximum value of 22.1 billion yuan.

A wave of share buybacks and shareholder increases continues to surge among companies listed on the Shanghai Stock Exchange, with the pace of industrial capital entering the market notably accelerating. Over the past week, 42 new buyback plans were added on the Shanghai market, with a maximum amount of 8.386 billion yuan, and 17 new shareholder increase plans were added, with a maximum amount of 7.457 billion yuan. Since the start of 2026, the Shanghai market has disclosed 190 new buyback plans, with a combined maximum amount reaching 55.5 billion yuan, and 155 new shareholder increase plans, with a maximum amount of 22.1 billion yuan. Many companies are making big moves. The chairman of NARI Technology proposed a buyback of 500 million to 1 billion yuan, the chairman of Daqin Railway proposed a buyback of 400 million to 500 million yuan, Sany Heavy Industry plans to buy back 400 million to 800 million yuan, and Yifeng Pharmacy Chain plans to buy back 200 million to 300 million yuan. The implementation of funds is also speeding up. Haier Smart Home has cumulatively bought back 1.817 billion yuan in this round, Seres has cumulatively bought back over 587 million yuan, Metallurgical Corporation of China has completed transactions totaling about 415 million yuan, and Chenguang Stationery has paid a total of 288 million yuan. On the shareholder increase side, the controlling shareholder of China Three Gorges Renewables plans to increase holdings by 1.5 billion to 3 billion yuan, the controlling shareholder of Aluminum Corporation of China plans to increase holdings by 1 billion to 2 billion yuan, and the controlling shareholder of China State Construction Engineering plans to increase holdings by 500 million to 1 billion yuan.

Aluminum Corporation of China announced that its controlling shareholder, Chalco Group, has obtained a loan commitment letter from the Beijing branch of Industrial and Commercial Bank of China, securing a credit line of up to 1.8 billion yuan with a term of no more than three years, specifically for increasing its holdings of the company's A-shares. Earlier, Chalco Group and its concert parties planned to increase their holdings of the company's A-shares and H-shares, with the purchase amount set at no less than 1 billion yuan and no more than 2 billion yuan, and the number of shares to be purchased not exceeding 2 percent of the company's total share capital, within 12 months from the date of the share purchase plan announcement.

On the morning of July 20, several listed central state-owned enterprises including Chalco, CRRC, and China Coal Energy announced shareholding increase plans by their controlling shareholders, while NARI Technology and Sinopec disclosed buyback plans or progress. Chalco's controlling shareholder Chinalco and its concert parties plan to increase their holdings of the company's A-shares and H-shares by 1 billion to 2 billion yuan, with the number of shares not exceeding 2% of total share capital, over a 12-month period. CRRC's controlling shareholder CRRC Group plans to increase its holdings by 150 million to 300 million yuan within the next six months, with no price range set. China Coal Energy's controlling shareholder China Coal Group plans to increase its holdings by 50 million to 100 million yuan. NARI Technology's chairman proposed a buyback of 500 million to 1 billion yuan worth of shares for equity incentives or registered capital reduction. Sinopec disclosed buyback progress, having repurchased a cumulative 77.9 million A-shares as of July 17, 2026, for a total of 365 million yuan, under a buyback plan totaling 500 million to 1 billion yuan. Several companies have recently reported improving performance. Chalco expects first-half net profit of 11.2 billion to 12.2 billion yuan, up 58% to 73% year-on-year, a record high for the period. China Shenhua Energy expects first-half net profit of 26.3 billion to 29.8 billion yuan, up 6.9% to 21.1% year-on-year.

China Reform Holdings Corporation and China Chengtong Holdings Group simultaneously disclosed progress on large-scale secondary market purchases, having together deployed nearly 60 billion yuan into core A-share assets. China Reform’s investment arm used over 50 billion yuan from a special central bank relending facility for share buybacks and increases, while China Chengtong, together with Chengtong Capital and Chengtong Yang Capital, has cumulatively bought close to 10 billion yuan. Both firms define these purchases as medium- to long-term strategic allocations, with funds continuously deployed via the central bank’s special relending facility. On the same day, five central enterprises—China Coal Energy, CRRC, Aluminum Corporation of China, NARI Technology, and China Shenhua Energy—jointly announced share increases, buybacks, asset injections, and dividend plans. Among them, three controlling shareholders’ increase plans total between 1.2 billion and 2.4 billion yuan. Five insurance institutions with assets under management exceeding one trillion yuan each voiced support for the stock market. China Pacific Insurance said it will continue to add positions in technology, consumer, and new energy stocks and ETFs. Ping An Insurance stated it will increase allocations to emerging industries, advanced manufacturing, and undervalued value stocks. New China Life Insurance expressed confidence in the market’s long-term value and will raise equity allocations. PICC and China Life Group also expressed a firm bullish stance and plans to boost allocations. On the evening of July 20, more than 20 listed companies issued share increase and buyback announcements, with confirmed deployed funds exceeding 720 million yuan and planned implementation funds totaling between 4.64 billion and 7.6 billion yuan. China Securities Regulatory Commission Chairman Wu Qing visited a securities branch to exchange views with investor representatives, listening to suggestions on strengthening oversight of quantitative and AI program trading and encouraging listed companies to increase dividend payouts.

On July 20, the A-share nonferrous metals and aluminum concept sector saw collective movement, becoming the market focus. Aluminum Corporation of China, a leader with a market cap in the hundreds of billions, surged in a straight line, briefly approaching the daily limit up and leading the entire sector. Huafon Aluminum, Yunnan Aluminum, Tianshan Aluminum, and several other stocks rose over 5 percent, while Hongqiao Holdings, Chang Aluminum, and Hong Kong-listed China Hongqiao followed the uptrend. In terms of news, Aluminum Corporation of China announced in the morning that its controlling shareholder, Aluminum Corporation of China Group, and persons acting in concert plan to increase their holdings of the company's A-shares and H-shares over the next 12 months, with the increase amount no less than 1 billion yuan and no more than 2 billion yuan, and the number of shares increased not exceeding 2 percent of the company's total share capital. At the same time, the escalating US-Iran conflict has injected stronger supply-side risk premiums into aluminum prices. Disruptions to shipping in the Strait of Hormuz directly triggered market concerns over aluminum supply, as the Middle East accounts for nearly 10 percent of global aluminum production capacity, and its raw materials and finished products are highly dependent on maritime transport through the strait. Multiple institutions believe that the easing of macro pressures, rigid supply reductions overseas, and the unchanged tight balance in domestic supply and demand provide strong support for aluminum prices at the bottom, and the industry is expected to maintain high prosperity.

The China Securities Regulatory Commission recently organised a symposium with representatives from securities fund institutions and listed companies to hear opinions and suggestions on promoting the stable and healthy development of the capital market. Before the market opened on 20 July, five central enterprise listed companies—China Shenhua Energy, CRRC Corporation, Aluminum Corporation of China, NARI Technology, and China Coal Energy—released intensive announcements, sending positive signals through shareholder shareholding increases, share buybacks, cash dividends, and injections of high-quality assets. The previous evening, China Reform Holdings disclosed that it had already used over 50 billion yuan in special re-lending for share buybacks and shareholding increases, along with supporting funds, to maintain market stability, while China Chengtong Holdings disclosed that it had recently purchased nearly 10 billion yuan in onshore stock assets cumulatively. In the brokerage sector, three brokerages—Huaan Securities, Guolian Minsheng Securities, and Sinolink Securities—successively launched buyback plans with a combined maximum amount of 700 million yuan. In the private equity industry, two billion-yuan-level quantitative private equity firms, Lingjun Investment and Pingfanghe Investment, simultaneously announced large-scale self-purchases. Since July, six institutions have made self-purchases totalling 412 million yuan, accounting for nearly 79 percent of the full-year total. Funds entered the market against the trend via exchange-traded funds. Last week, total net inflows into ETFs across the market reached 229.033 billion yuan, of which equity ETFs contributed 203.592 billion yuan, and broad-based ETFs saw net inflows of 156.12 billion yuan in a single week. The latest size of the Huatai-PineBridge CSI 300 ETF reached 99.521 billion yuan. The market adjustment was mainly triggered by external factors such as geopolitical tensions in the Middle East and deleveraging in overseas technology sectors. There has been no trend reversal in the fundamentals of the domestic economy or corporate earnings. The 900 companies on the Shenzhen market that have disclosed half-year earnings forecasts reported total net profits of approximately 230.7 billion yuan, a year-on-year surge of 147 percent.

In early trading on July 20, the three major A-share indices rose. The Shanghai Composite Index gained 1.18%, the Shenzhen Component Index rose 0.21%, and the ChiNext Index climbed 1.13%. Combined turnover on the two exchanges reached 1.67 trillion yuan, with over 2,900 stocks advancing. Sectors such as oil and gas, baijiu, and coal led the gains, while the power sector rebounded collectively. Jiawei New Energy, Huayin Electric Power, and Fuling Electric Power hit their daily limit up. Kweichow Moutai surged over 5% to 1,322.97 yuan. Before the market opened, multiple companies in the power and coal sectors announced plans to increase holdings or conduct buybacks. SDIC Power's controlling shareholder plans to increase its stake by 150 million yuan within six months. China Coal Energy's controlling shareholder plans to increase holdings by 50 million to 100 million yuan within 12 months. NARI Technology's chairman proposed a buyback of 500 million to 1 billion yuan. China Shenhua Energy announced a 2026 coal sales volume target of 618.1 million tonnes, a power generation target of 288.1 billion kilowatt-hours, and an operating revenue target of 360 billion yuan. Longyuan Power plans to distribute annual cash dividends of no less than 30% of net profit attributable to the parent company from 2025 to 2027. In addition, Aluminum Corporation of China's controlling shareholder plans to increase holdings by 1 billion to 2 billion yuan, and CRRC Corporation's controlling shareholder plans to increase holdings by 150 million to 300 million yuan. Both stocks rose over 6% in early trading.

China Rare Earth Nonferrous Metals disclosed its first-half earnings forecast, expecting net profit attributable to shareholders of the listed company to be between 370 million and 430 million yuan, a year-on-year increase of 410.35 percent to 493.11 percent. As of July 13, 657 A-share listed companies had disclosed first-half earnings forecasts, with over 60 percent reporting positive results, and sentiment in traditional sectors such as nonferrous metals has significantly improved. As of 10:25 on July 14, the CSI Nonferrous Metals Industry Thematic Index rose 0.63 percent, with constituent China Rare Earth Nonferrous Metals up 5.66 percent, Chihong Zinc and Germanium up 4.16 percent, and Aluminum Corporation of China up 3.08 percent. The ChinaAMC Nonferrous Metals ETF rose 0.62 percent, and the ChinaAMC Rare Metals ETF rose 1.02 percent.

Chalco issued an announcement forecasting that net profit attributable to shareholders of the listed company for the first half of 2026 will be between 11.2 billion and 12.2 billion yuan, representing a year-on-year increase of 58% to 73%. The company said the significant improvement in performance was mainly due to the full implementation of an extreme operation system, steady and orderly production management, stable and optimized product output, and continued strengthening of cost control and supply chain end-to-end management.

The Shanghai Composite Index is expected to open higher on Monday, extending a two-day winning streak that added over 35 points, after Wall Street hit fresh record highs on renewed confidence in Federal Reserve rate cuts. The SCI closed up 0.71 percent at 3,950.31 on Friday, with Jiangxi Copper surging 5.28 percent and Chalco rallying 2.10 percent, while PetroChina fell 1.31 percent. U.S. markets rallied after a report showed consumer prices rose less than expected in September, with the Dow jumping 1.01 percent to a record 47,207.12. China is also due to release September industrial profits data later in the day, following a 0.9 percent year-on-year rise in August.

Tianshan Aluminum expects to achieve a net profit of 4.2 billion yuan in the first half of 2026, up 101.52 percent year on year. The company's first-quarter net profit growth was 107.92 percent, marking two consecutive reporting periods of doubling performance. The sharp jump in results was mainly driven by persistently tight global aluminum supply and demand, a notable rise in selling prices for primary aluminum products, and the smooth progress of the company's 1.4 million tonne green, low-carbon energy efficiency upgrade project for primary aluminum. The downstream aluminum deep processing segment also performed strongly. High-purity aluminum achieved both volume and price increases thanks to rising demand from the electrolytic capacitor industry, while orders for various aluminum foil products were full, with output and yield rates improving significantly. Against the backdrop of rising industry prosperity, Aluminum Corporation of China posted a first-quarter net profit of 5.527 billion yuan, up 56.35 percent year on year, and Yunnan Aluminum reported a first-quarter net profit attributable to the parent of 3.6 billion yuan, surging 269.45 percent year on year.

Chinalco (Xiong'an) Mining, a subsidiary of the Aluminum Corporation of China, has agreed to acquire a 95% stake in the Opuwo Cobalt-Copper Project in Namibia from Celsius Resources for $15 million. The Opuwo Project in north-western Namibia has a mineral resource estimate of 225.5 million tonnes, with grades of 0.12% cobalt, 0.43% copper and 0.54% zinc, representing 259,000 tonnes of contained cobalt and 970,000 tonnes of contained copper. The transaction is subject to conditions including shareholder approval, regulatory clearances in Namibia and China, and licence renewals. Celsius intends to use the proceeds to advance its MCB Copper-Gold Project in the Philippines. Chinalco (Xiong'an) Mining has agreed to spend at least $750,000 on exploration and $250,000 on metallurgical test work to support licence renewal efforts.

The Advanced Manufacturing Chain Section at the Fourth China International Supply Chain Expo in Beijing features a 1,000-square-meter Low-Altitude Economy Zone with over 30 companies, an aviation value chain exhibition led by Airbus alongside 15 global aerospace manufacturers, and new materials innovations including Jilin Chemical Fiber's T1200-grade ultra-high-strength carbon fiber. Airbus, ICBC, and AVIC jointly hosted a finance forum on June 22. Sinochem presented materials for humanoid robots, while Aluminum Corporation of China displayed C919 aircraft aluminum and other advanced products. Siemens and Honeywell debuted industrial AI and low-carbon technologies in China, and Gree Group and Wuliangye Group participated with smart manufacturing and diversified advanced manufacturing exhibits respectively.