<div id="readability-page-1"><div><p>Morgan Stanley issued a research report stating that Aluminum Corporation of China Limited (02600.HK)<span> </span><span> +0.060 (+0.519%)  </span> <span> Short selling $30.56M; Ratio 15.827%  </span>  reported a 1Q net profit of RMB5.5 billion, up 56% YoY, reaching the upper end of its preliminary earnings guidance. Gross margin expanded to 24% from 14% in 1Q25, while the net gearing ratio declined to 14% from 25% in the same period last year. Financing costs fell 3% YoY.</p><p>M Stanley noted that, amid tight global supply, aluminum prices are expected to remain at elevated levels with further upside potential. Alumina prices, however, continue to face pressure due to global oversupply and are expected to fluctuate around production cost levels. The company also plans to gradually increase its dividend payout ratio and may conduct market share buybacks. The broker believes these factors will support a higher valuation for Aluminum Corporation of China Limited.</p><p>M Stanley assigned an Overweight rating to Aluminum Corporation of China Limited, with a TP of HKD18.1. (sl/w)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-23 16:25.)</p></div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p></div>

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<p>Morgan Stanley's report on Aluminum Corporation of China Limitedindicates a 1Q net profit of RMB5.5 billion, a 56% YoY increase, aligning with earnings guidance. Gross margin rose to 24%, and net gearing ratio decreased to 14%. The firm anticipates elevated aluminum prices due to tight global supply, while alumina prices may fluctuate due to oversupply. The company plans to increase its dividend payout and may buy back shares. Morgan Stanley rates the stock as Overweight with a target price of HKD18.1.</p>

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M Stanley: Aluminum Corporation of China Limited  1Q Net Profit In Line; Rated Overweight