Welcome!

News Feed Item

China Aluminum International Announces 2014 Interim Results

Representing a 25.5% increase of revenue to RMB8.85 billion and a net profit of RMB0.272 billion compared with the same period last year

Hong Kong, Aug 23, 2014 - (ACN Newswire) - China Aluminum International Engineering Corporation Limited (the "Company" or "Group"; stock code: 2068) is pleased to announce as follows the unaudited interim results for the six-month period ended 30 June 2014 ("reporting period").

In face of the tough market environment, the Group benefited from the exploration efforts of both international and domestic markets and achieved newly signed contracts with the value of RMB19.8 billion in the first half of the year, maintaining a good momentum of development. The contracts backlog of the Company as of 30 June 2014 amounted to RMB70.7 billion, representing an increase of 15% over the end of 2013. Revenue coverage ratio reached a 4 times growth which builds a solid foundation for future performance. The Group grew steadily in the first half of the year with a revenue of RMB8.85 billion, 25.5% up over that of the same period last year. Net profit amounted to RMB0.272 billion, remains basically unchanged compared with the same period last year.

Although the external market was tough, our team in the Headquarters and subsidiaries had unwavering faith in achieving the operation targets of the first half of the year. Efforts on market development were unabated. In the first half of the year, about 100 projects in medium and large scale were undertook involving heavy metal smelting, technological transformation, redevelopment of shanty areas, tourism and municipal construction and most of the projects secured a foothold from the preliminary works. The operation level had been improved.

When it comes to the overseas market, the Company capitalized on the changing market trend in the international arena and actively captured opportunities on project cooperation. In the first half of the year, the Company successfully entered into the EPC contract with Venalum Electrolysis Plant under CVG Group, Venezuela with a contract value of about US$500 million. The act was the second cooperation between China and Venezuela in the field of electrolytic aluminum. Chalieco has become one of the most popular Chinese enterprises in Venezuela.

Following the initial public offering (IPO) of H Shares in 2012 and the issuance of non-public debt financing instruments with principal amount of RMB2.5 billion in 2013, the Company successfully issued US$300 million senior guaranteed perpetual capital securities in the first half of the year, by which the Company's capital structure was greatly improved. The exercise has provided stable funding for the development of the Company. The good performed of the securities also gained recognition and recognized from the investors.

Looking ahead, Chalieco will find innovative business model in order to improve the products and services with creative insights, to create greater value for customers and to explore new opportunities. In the second half of the year, the Company will continue to focus on the demand of the market, strengthen the technology and wisely use the research funds to build a strong presence in the technology field of nonferrous metals.

Mr. Zhang Chengzhong, chairman of Chalieco, stated, "We are dedicated and committed. In 2014, with strong support from all circles of the society, determination and the best efforts, Chalieco sets to complete the stated goals of the year by bolstering confidence, stringent implementation and appropriate measures to present an outstanding performance to the satisfaction of all shareholders and staff."

About China Aluminum International Engineering Corporation Limited

Chalieco was incorporated in the PRC on 30 June 2011, with Chinalco as its controlling shareholder. It was listed on the main board of the Stock Exchange on 6 July 2012.Chalieco is a leading technology, engineering service and equipment provider in the nonferrous metals industry in China, capable of providing full business-chain integrated engineering solutions throughout various stages of the nonferrous metals industry chain. The businesses of the Company include engineering design and consultancy, engineering and construction contracting and equipment manufacturing. Chalieco regards technological innovation as its core competency, and has developed a series of proprietary technologies relating to mining, ore-dressing, smelting and metal material processing. Chalieco has been successively listed on "Top 500 Enterprises of China in 2014", ranking No. 267.




Copyright 2014 ACN Newswire. All rights reserved.

More Stories By ACN Newswire

Copyright 2008 ACN Newswire. All rights reserved. Republication or redistribution of ACN Newswire content is expressly prohibited without the prior written consent of ACN Newswire. ACN Newswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, drew together recent research and lessons learned from emerging and established compa...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
"Coalfire is a cyber-risk, security and compliance assessment and advisory services firm. We do a lot of work with the cloud service provider community," explained Ryan McGowan, Vice President, Sales (West) at Coalfire Systems, Inc., in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Get deep visibility into the performance of your databases and expert advice for performance optimization and tuning. You can't get application performance without database performance. Give everyone on the team a comprehensive view of how every aspect of the system affects performance across SQL database operations, host server and OS, virtualization resources and storage I/O. Quickly find bottlenecks and troubleshoot complex problems.
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...