A-share Listed Aluminum Companies - Profile and Financial Data

March 2017 | 70 pages | ID: A2AE249AC99EN
China Research and Intelligence Co., Ltd.

Abstracts

Aluminum and aluminum alloy are currently one of the most widely used and most cost-effective materials. Aluminum alloy is widely used in manufacturing such as planes, automobiles, railways and ships. Besides, space rocket, space shuttle and satellites also consume a huge amount of aluminum and aluminum alloy.

In 2016, the production volume of electrolytic aluminum was 31.87 million tons, barely changed compared with 31.67 million tons in 2015. From 2001 to 2016, the production volume of electrolytic aluminum increased from 3.63 million tons to 31.87 million tons, with the CAGR of 15.6%. Since 2010, the aluminum consumption per capita reached the average level of developed countries. Electrolytic aluminum manufacturers in China are expanding production capacity, presenting a serious overcapacity. China takes up only 3% of the global bauxite reserves, while it accounts for over 20% of electrolytic aluminum production. China's electrolytic aluminum industry is not only faced with a serious overcapacity but also highly independent on imported raw materials.

CRI analysis shows that the terminal downstream industries of aluminum products include construction, transportation, power and electronics, consumer durables and machinery industries, taking up 39%, 17%, 16%, 14% and 7% respectively. As one of the countries with the richest aluminum products varieties, China has over 300 kinds of alloys and over 1,500 categories aluminum products. China's aluminum products are used not only for domestic consumption but also for exports. In 2015, China exported 4,195,200 tons of aluminum, taking up 8% of the domestic production. With the upgrading manufacturing in China, high-end aluminum processing enjoys good prospects.

According to CRI analysis, the benefit of China's aluminum industry is rather polarized. The aluminum smelt industry is losing money, while the aluminum processing industry makes good profits. The investment structure of aluminum in China also shows a polarized trend, the fixed asset investment in the aluminum smelt industry falls. In comparison, fixed asset investment in the aluminum rolling industry keeps rising.

In this report, CRI analyzes 17 relevant aluminum enterprises listed in A-share market in in China.

(1) Financial Indexes

• Earnings per Share
• Book Value per Share (BPS)
• Sales per Share (SPS)
• Net Cash Flow per Share from Operations
• Net Cash Flow per Share (CNY)
• Return on Net Worth
• Net Profit Margin on Total Assets
• Return on Invested Capital (ROIC) (%)
• Gross Profit Margin on Sales (%)
• Net Profit Margin on Sales (%)
• EBIT Margin (%)
• EBITDA Margin (%)
• Debt to Asset Ratio (%)
• Total Asset Turnover (times)
• Cash/Operating Income Received from Sales of Goods or Services
• YOY Growth Rate of Operating Revenue (%)
• YOY Growth Rate of Operating Profit (%)
• YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)

(2) Summary of Income Statement

• Gross Revenue (CNY, million)
• Total Operating Costs (CNY, million)
• Revenue (CNY, million)
• Operating Profit (CNY, million)
• Total Profit (CNY, million)
• Net Profit (CNY, million)
• Net Profit Attributable to Shareholders of Parent Company (CNY, million)
• Non-recurring Items (CNY, million)
• Net Profit Deducting Non-recurring Items (CNY, million)
• R&D Costs (CNY, million)
• Earnings Before Interest and Tax (EBIT) (Based on iFind) (CNY, million)
• Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (Based on iFind) (CNY, million)

(3) Summary of Balance Sheet

• Liquid Asset (CNY, million)
• Fixed Asset (CNY, million)
• Long-term Equity Investment
• Total Assets (CNY, million)
• Liquid Liability (CNY, million)
• Non-current Liability (CNY, million)
• Total Liability (CNY, million)
• Capital Reserve (CNY, million)
• Surplus Reserve (CNY, million)
• Undistributed Profit (CNY, million)
• Shareholders' Equity (CNY, million)
• Equity Attributable to Shareholders of Parent Company (CNY, million)

(4) Summary of Cash Flow Statement

• Cash Received from Sales of Goods and Services (CNY, million)
• Cash Flow from Operations (CNY, million)
• Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
• Cash Paid for Investments (CNY, million)
• Cash Flow from Investments (CNY, million)
• Cash Received from Investors (CNY, million)
• Cash Received from Borrowings (CNY, million)
• Cash Flow from Financing (CNY, million)
• Net Increase of Cash and Cash Equivalents (CNY, million)
• Cash and Cash Equivalents, End of Period (CNY, million)
• Depreciation and Amortization (CNY, million)

Contents

COMPANIES IN THE REPORT:

1 Shandong Nanshan Aluminum Co., Ltd (600219.SH)
2 Henan Zhongfu Industrial Co., Ltd (600595.SH)
3 Guangdong HEC Technology Holding Co., Ltd (600673.SH)
4 Ningbo Fubang Jingye Group Co., Ltd (600768.SH)
5 Xinjiang Joinworld Co., Ltd (600888.SH)
6 Yechiu Metal Recycling (China) Co., Ltd (601388.SH)
7 Aluminum Corporation of China Limited (601600.SH)
8 Henan Mingtai Al. Industrial Co., Ltd (601677.SH)
9 Jiaozuo Wnfang Aluminum Manufacturing Co., Ltd (000612.SZ)
10 Yunnan Aluminium Co., Ltd (000807.SZ)
11 Jiangsu Alcha Aluminium Co., Ltd (002160.SZ)
12 Loften Environmental Techonology Co., Ltd (002379.SZ)
13 Jilin Liyuan Precision Manufacturing Co., Ltd (002501.SZ)
14 Jiangsu Asia-Pacific Light Alloy Technology Co., Ltd (002540.SZ)
15 Fujian Minafa Aluminium Co., Ltd (002578.SZ)
16 Guangdong Hoshion Industrial Aluminium Co., Ltd (002824.SZ)
17 Yinbang Clad Material Co., Ltd (300337.SZ)