Aluminum Corporation Of China (02600): Yunnan Aluminum proposes to acquire a 28.7425% stake in Yunlu Yongxin, a 27.3137% stake in Yunlu Runxin, and a 30% stake in Yunlu Hongxin.

Aluminum Corporation of China (02600) announced that on November 25, 2025, Yunnan Aluminum and Yunnan Metallurgy entered into an acquisition agreement. Under this agreement, Yunnan Aluminum plans to acquire Yunnan Aluminum Yongxin's 28.7425% equity, Yunnan Aluminum Runxin's 27.3137% equity, and Yunnan Aluminum Hongxin's 30% equity through a private agreement and cash purchase. After this acquisition is completed, Yunnan Aluminum will hold 96.0766%, 97.4560%, and 100% of the shares in Yunnan Aluminum Yongxin, Yunnan Aluminum Runxin, and Yunnan Aluminum Hongxin, respectively. As of the date of this announcement, Yunnan Aluminum is a subsidiary of the company, with Aluminum Corporation of China being the company's controlling shareholder and Yunnan Metallurgy being a subsidiary of Aluminum Corporation of China. Yunnan Aluminum Yongxin, Yunnan Aluminum Runxin, and Yunnan Aluminum Hongxin are all controlled subsidiaries of Yunnan Aluminum, with Yunnan Metallurgy being the second largest shareholder in these three companies. After this acquisition is completed, Yunnan Metallurgy will no longer hold shares in the three companies, which will help Yunnan Aluminum optimize its equity structure, consolidate aluminum assets, increase equity electrolytic aluminum production capacity, and achieve the strategic goal of strengthening its core business. Yunnan Aluminum Yongxin and Yunnan Aluminum Runxin have good asset and financial conditions, and strong profit-making capabilities. Through this acquisition, Yunnan Aluminum is expected to further enhance its net profit attributable to shareholders and increase investment returns, benefiting the overall interests of the company and its shareholders. Yunnan Aluminum Hongxin is currently mainly engaged in aluminum alloy business. Through this acquisition, Yunnan Aluminum will optimize its equity structure, coordinate resource allocation, and improve operational efficiency. In addition, Yunnan Aluminum plans to expand its bauxite business using Yunnan Aluminum Hongxin as a platform, and has formulated a development plan of "alloy business + bauxite mining business" to further promote the sustainable development of Yunnan Aluminum.