Aluminum Corporation of China Limited
Aluminum Corporation of China Limited is a state-authorized investment management institution and holding company, and an important state-owned backbone enterprise.
As of the end of 2009, the company's total assets were 360.8 billion yuan and sales revenue was 142 billion yuan.
The company is the world's second largest alumina, third largest electrolytic aluminum and fifth largest aluminum processing producer,
one of China's largest copper smelting and processing companies, and has been selected as one of the Fortune Global 500 for two consecutive years.
Aluminum Corporation of China, which is controlled by the company, is listed in New York, Hong Kong and Shanghai, and its corporate credit rating has been rated BBB+ by Standard & Poor's for many years.
Company Profile
Aluminum Corporation of China Limited (hereinafter referred to as the Company) is an important state-owned backbone enterprise under the central government. It is engaged in mineral resource development, non-ferrous metal smelting and processing, related trade and engineering and technical services. It is the world's second largest supplier of alumina, the third largest supplier of electrolytic aluminum and the fifth largest supplier of aluminum processing materials. Its comprehensive strength in the industry ranks first in the country.
The company currently has total assets of 354.55 billion yuan, 240,000 employees and 64 affiliated companies. In 2009, the company produced 7.78 million tons of alumina, 3.44 million tons of aluminum and aluminum alloys, 609,500 tons of aluminum processing materials, 142,800 tons of copper processing materials, and 294,100 tons of refined copper, and achieved sales revenue of 135.6 billion yuan, once again ranking among the world's top 500 companies.
Company Business
The company has seven major business segments, namely aluminum, copper, rare earth, engineering technology, mineral resources, overseas and trade. Aluminum Corporation of China, controlled by the company, is a listed company in New York, Hong Kong and Shanghai (stock codes are ACH in New York, 2600 in Hong Kong and 601600 in Shanghai). The company also owns two domestic listed companies, Yunnan Copper and Jiaozuo Wanfang.
Aluminum Corporation of China was jointly rated as the top 100 Chinese listed companies in 2010 (the 7th) by Buffett Magazine, World Enterprise Competitiveness Laboratory and World Economist Weekly, ranking 19th. In the same year, it was rated as "China's 25 most investment-worthy listed companies" by the magazine.
Development prospects
The company focuses on the strategic positioning of an international polymetallic mining company, based in China and facing overseas, actively integrating domestic resources, accelerating the development of global business, implementing cost leadership strategy, deepening management reform and innovation, launching all-round and in-depth structural adjustment, promoting internationalization strategy and resource development strategy, recreating new competitive advantages, scientifically developing and upgrading, and building a world-class multinational company with greater international competitiveness.
Company status
As a leading enterprise in my country's nonferrous metal industry, the company has independently developed and applied new processes and technologies such as the Bayer process for mineral processing and 500 kiloampere large aluminum electrolytic cells. The special aluminum alloys and titanium alloys produced have become important materials for major national projects such as the "Long March" series of rockets, the "Shenzhou" series of spacecraft, the "Chang'e 1" lunar orbit project, large aircraft, and high-speed trains. The company has an excellent management team and a team of technical talents with complete categories and superb skills. It has a number of core technologies with independent intellectual property rights.
Under China's socialist market economic system, state-owned enterprises are an important pillar of the national economy and an important force for promoting social harmony. State-owned enterprises are one of the important organizational forms in China's social structure, bringing together a large number of means of production and workers. Maintaining the stable, rapid and healthy development of the enterprise itself, maximizing profits, providing more high-quality and low-cost products and services for the country and society, and promoting social prosperity are the basic economic functions of enterprises. On the other hand, as social citizens, enterprises should do their best to provide as much return as possible to internal employees and external stakeholders, and assume more social responsibilities.
It is the inherent quality of Chinese state-owned enterprises to not forget to shoulder social responsibilities while developing the economy. Since its establishment, Chinalco has adhered to the business philosophy of "strengthening Chinalco, serving the country, rewarding shareholders, and benefiting employees", and has not only worked hard to become the largest and strongest enterprise, but also the best enterprise.
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