In order to solve the problem of interbank competition, the "one brother of the market value of the aluminum industry chain" is planned to be 6.662 billion yuan in China

Huaxia Times (chinatimes.net.cn) reporter Jiao Yanli Lu Xiaoxiao Beijing report

The aluminum industry chain is welcomed again! In order to solve the problem of interbank competition, the A -share "Aluminum Industry Chain Market Value One Brother" China Aluminum (total market value of 79.16 billion yuan, ranked first in the market value of the aluminum industry chain). The third step in the market value of the aluminum industry chain).

On the evening of July 24, China Aluminum and Yun Aluminum Co., Ltd. successively issued an announcement saying that in order to solve the problem of interbank competition, China aluminum intends to acquire 19%of Yun Aluminum shares with cash of 6.662 billion yuan. Holding 29.10%of Yun aluminum shares, China Aluminum will become the largest shareholder of Yun Aluminum shares and incorporate it into the company's merger statement.

With this favorable, the early days of July 25th, China Aluminum and Yun Aluminum Stocks have gone, and then survived down. As of the close of the closing of China Aluminum, the closing of 1.77%, close to 4.61 yuan/share, Yun Aluminum shares increased by 2.71 %, The collection of 9.84 yuan/share, the early market on July 26th China Aluminum continued to open up, as of the close of the close of 4.62 yuan/share, closed up 0.22%on the same day, Yun Aluminum shares fell slightly by 0.20%on the 26th, and closed at 9.82 yuan/ share.

Lin Boqiang, Dean of the China Energy Research Institute of Xiamen University, said in an interview with the reporter of the Huaxia Times: "China's aluminum industry is the largest company among the market value among the aluminum industry chain, and there are many market value of Yun Aluminum shares. Further enhance the industry concentration of China's aluminum industry, and at the same time, it can further enhance China's aluminum industry's industry competitiveness in the international market. "

IPG China Chief Economist Bo Wenxi also said in an interview with the China Times reporter that ESG is the social responsibility of enterprises and citizens. As a central enterprise and a high pollution industry. The proportion of production capacity is also conducive to integrating the supply of aluminum mine, reducing the competition in the industry, and improving and improving the operating performance of the aluminum industry.

He has promised to solve the problem of interbank competition within five years

Regarding the purpose of the acquisition, China Aluminum said that the acquisition will further solve the problem of interbank competition between the company and Yun Aluminum shares and effectively reduce the company's daily related transactions. After merging Yun Aluminum shares will be conducive to improving the company's profitability With capacity and industry status, relying on the advantages of cloud -aluminum shares in clean energy, better play the synergy of the company and Yun Aluminum shares in business and management, realize the integration and centralized management of the aluminum industry chain, and bring the company's investment to bring the company's investment. Sustainable returns.

From the perspective of the industry scale, as of the end of 2021, the output of aluminum oxide in China reached 16.23 million tons, and the output of electrolytic aluminum was 3.86 million tons. It ranks second in the world; the scale of the aluminum industry of Yun Aluminum is also good. The company has 3.05 million tons of electrolyte capacity, has an aluminum anode carbon production capacity of 800,000 tons, and an annual output of aluminum aluminum is 1.367 million tons.

The announcement shows that there is a competitive relationship between aluminum hydroxide and electrolytic aluminum in China aluminum and cloud aluminum shares. Through the structure of the equity, China Aluminum and Yun Aluminum shares are also controlled by Zhong Aluminum Group. Chinhuman Aluminum Group is a direct controlling shareholder and indirect controlling shareholder of China Aluminum and Yun Aluminum Co., Ltd., respectively. Yun Aluminum Co., Ltd. stated on the investor interactive platform on July 24 that in order to solve the problem of interbank competition, CNOCO Group issued the "Note on Avoiding Competition with Yunnan Aluminum Co., Ltd." as early as December 2018. It will start planning the integration of interbank competition business within 2019 and promise to solve the problem of interbank competition within five years.

"Competition of peers refers to the competitive relationship formed by the cross -merger and acquisition of the same actual controller of the same actual controller, which will cause self -killing between each other. In order to safeguard their own interests and solve the problem of mutual competition between their companies, it is also to meet the capital market's compliance requirements on eliminating the competition of the same industry. " Essence

Bo Wenxi further stated that since the beginning of this year, the price of aluminum materials has fallen by the decline in demand. After China's aluminum industry becomes the largest shareholder of Yun Aluminum shares, it will help integrate the supply of aluminum ore, improve and improve the aluminum industry of central enterprises. Operating performance can play a role in maintaining market order and preventing the industry from going downward.

Regarding the impact of this acquisition, Liu Xiaolei, director of the Big Data Department of Shanghai Nonferrous Network, said in an interview with the media that the transfer of equity is more like the integration of resources in China's aluminum industry. In the short term, it has little impact on the market.

Regarding whether the acquisition can solve the competition in China's aluminum industry, Lin Boqiang also told the reporter of Huaxia Times that the acquisition is more about improving the competitiveness of China's aluminum industry in the international market. From the perspective of the domestic market alone, alone The meaning is not great.

The performance of the two major aluminum leading companies is good

In fact, China Aluminum and Cloud Aluminum shares, which belong to China Aluminum Group, have performed well since the listing of A shares.

According to the data, the Chinese aluminum owner's business is the exploration and mining of aluminum mine resources, alumina, raw aluminum, aluminum alloy, carbon production and sales, and the exploration and mining business of coal resources. The motherboard is listed.

Financial data shows that the performance of China's aluminum has been steadily increasing since its listing. In 2021, benefiting from the rise in the prices of alumina and electrolytic aluminum, China's aluminum industry achieved operating income of 269.748 billion yuan, an increase of 45.03%year -on -year, and the net profit attributable to mothers was 5.08 billion yuan, a year -on -year increase of 5.65 times. In 2022, China's aluminum industry's performance continued to grow. In the first quarter of this year, the operating income and net profit returned from the mother were about 75.62 billion yuan and 1.575 billion yuan, respectively, a year -on -year increase of 43.62%and 60.52%, respectively.

The profitability of Yun Aluminum shares is equally good. The company has remained at a high level since the listing of A shares in 1998. Among them, in the first quarter of this year, the operating income and net profit attributable to their mothers were about 10.9 billion yuan and 1.124 billion yuan, respectively, an increase of 7.78%and 64.86%year -on -year, respectively. In terms of the secondary market, as of July 26, Yun Aluminum's stock price was reported at 9.82 yuan/share, with a total market value of 34.06 billion yuan.

Regarding the acquisition, China Aluminum also said that in recent years, Yun Aluminum shares have achieved good performance. The company's acquisition of Yun Aluminum shares is conducive to optimizing the company's financial indicators and further enhance the company's industry status and profitability. The advantages increase the company's proportion of green aluminum production capacity, promote the performance of each other's strengths, and coordinated development.

Editor -in -chief: Editor of Lu Xiaoxiao: Zhang Yuning

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