Three subsidiaries of Aluminum Corporation Of China (601600.SH) plan to invest 175 million RMB to acquire the related assets of the high-end manufacturing flat ingot production line of China Aluminum Corporation.

Announcement from Aluminum Corporation Of China (601600.SH): The company's Qinghai branch, Liancheng branch, and Guizhou branch intend to acquire related assets of the high-end manufacturing subsidiary of Aluminum Corporation Of China Group (referred to as "China Aluminum High-end Manufacturing") through agreement method using monetary funds. The transaction price is approximately 175 million yuan based on the net value of the assets evaluated after assessment (subject to the final assessment report for record). After injecting the ingot assets into China Aluminum High-end Manufacturing, it has played a positive role in ensuring the supply of ingots for the subsidiary. However, during operation, issues such as inadequate market planning resulting in decreased capacity utilization, unclear boundaries in asset and personnel management have arisen, leading to inefficiency in ingot production. Due to the above reasons, the company and China Aluminum High-end Manufacturing, in order to maximize mutual benefits, have agreed to have the three company branches acquire the relevant assets of the ingot production line of China Aluminum High-end Manufacturing. Through this acquisition, it will help unify asset ownership and management rights, clarify management boundaries, promote synergy between the company's electrolytic aluminum and aluminum alloy production, and improve asset operation efficiency.