Summary by Moomoo AI
China's aluminum industry issued a notice on April 8, 2024 detailing its special action plan for “Subtractive gains” and reporting its operating results for 2023. In the past year, the company achieved operating revenue of $2,251 billion, total profit of $151 billion, net profit of $126 billion, growth of 14% and 16% year-on-year, and net operating profit of $67 billion, a significant increase of 60% year-on-year. The company's asset ratio decreased from 66.25% at the end of 2019 to 53.30% at the end of 2023. China's aluminum industry highlighted its continuous optimization of the industry layout, promotion of technological innovation, and commitment to improve investor returns, increasing the cash distribution amount in 2023 by 122% year-on-year. Looking ahead, the company will continue to focus on the strategic goal of “Build a World Class”, promote high-quality development and strive to achieve the country's “dual-carbon” strategic goal.