In the first half of 2020, Minfa Aluminium reported a substantial growth in its net profit at CNY31.39mn, up by 85.4pc from the prior year owing to a healthy Q2 performance.
Minfa Aluminum main activities are production and sales of aluminium alloys. The company caters to non-ferrous metal rolling industry with main products including aluminium products, alloys and aluminium templates.
The company’s non-ferrous metal processing accounted for 92pc of total revenues, aluminium alloy contributed 6pc to the revenues as per the company’s financial statements.
China consumes huge quantities of aluminium and exports them. In June, data showed a rise of 783.2pc growth in alumina exports to around 30,000mt from the year prior.
The company’s operating income rose by 9.48pc in H1(Jan-June) to CNY652mn from the prior year period.
($1 = CNY6.86)