Mondo Visione  Jun 30  Comment 
Consumers wrote nearly two-thirds fewer checks per household in 2015 than in 2000, while total noncash payments per household, which includes not only checks but also card payments and electronic transfers via the automated clearinghouse (ACH)...
Clusterstock  Nov 17  Comment 
This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here. Same-day ACH, the US faster payments initiative to speed up settlement times for a specific class of bank-based...
Clusterstock  Nov 11  Comment 
In the US, when customers make payments via banks, they’re completed in two ways: via wire transfer, or through the Automated Clearing House (ACH). ACH transactions, which are less expensive for customers and which accounted for 18% of total...
Benzinga  Oct 7  Comment 
Think you know the markets? See if you can guess what stock this is based on the chart and clues below. Answer is at the bottom. This company reports earnings on Tuesday, and is typically known as the unofficial start of earnings...
Banking Business Review  Sep 23  Comment 
Avidia Bank and linked2pay, the technology platform provider of Avidia Pay, have announced that they have added same-day ACH payments with their platform.
Benzinga  Sep 22  Comment 
D.A. Davidson views the recent B&G Foods, Inc. (NYSE: BGS)'s acquisition of spices and seasonings business ACH Food Companies as positive and "a good strategic fit," as it complements Mrs. Dash, Ac'cent, and others in B&G's existing...
MarketWatch  Sep 21  Comment 
B&G Foods Inc. has announced an agreement to acquire ACH Food Companies Inc.'s spice business for about $365 million in cash. The brands involved include Spice Islands, Tone's and Durkee, as well as the Weber brand of sauces and seasonings, which...
Mondo Visione  Jul 21  Comment 
The Federal Reserve Board on Thursday announced the adoption of changes to part II of the Federal Reserve Policy on Payment System Risk (PSR policy) to conform with enhancements to the Reserve Banks' same-day automated clearing house (ACH) service...


Aluminum Corporation of China, Ltd. (Chalco), incorporated as a joint stock limited company in the People's Republic of China in 2001 and headquartered in Beijing, is the main producer of alumina and the largest producer of primary aluminum in terms of production and sales in China. Chinalco, a state-owned enterprise, currently owns 40.46% of Chalco's issued share capital, and it is Chalco's largest shareholder. As of September, 2007, the company's assets totaled approximately $10.7 billion and are expected to continue to grow rapidly.

Chalco organizes and manages its operations mainly through the following two business segments: Alumina and Primary Aluminum. External sales of the Alumina and Primary Aluminum segments accounted for approximately 44.3% and 54.5%, respectively, of Chalco's total 2006 revenue. Revenues from Primary Aluminum segments are expected to contribute larger ratio of the company's revenue.

Chalco sells a small portion of the alumina it produces to its own primary aluminum smelters and a majority to external customers, mainly smelters throughout China. In 2006, Chalco produced 8.83 million tons of alumina products, and that amount accounted for about 64.5% of all alumina products produced in China, making Chalco the second-largest producer of alumina in the world. The company's alumina production has grown about 14.6% per year from 2001 to 2006.

Primary aluminum is a widely used metal and the key raw material for aluminum fabrication. Chalco sells most of its primary aluminum products to China's customers, and transports most of its primary aluminum products by rail. Chalco's primary aluminum production was 1.93 million ton in 2006, and that amount accounted for 20.6% of all primary aluminum products produced in China, making Chalco the fourth-largest producer of alumina in the world. The company's primary aluminum production has grown about 27.4% per year from 2001 to 2006.

Currently its stock price in China's A share market is around 130% higher than that of Hong Kong's H share market. As the Chinese government lets Chinese investors invest in overseas market, it is expected that price of a company in different markets will converge in the future.

Chalco announced strong financial results for the first three quarters of 2007 mainly due to production increases of primary aluminum products. However, its profit margins declined in the third quarter due to a slip in aluminum and alumina prices. The company should continue to benefit from strong alumina and aluminum demand in China, as the company has the best balanced value chain of aluminum industry in China. Moreover, it plans to continue to increase its production capacity aggressively. Chalco has finished six aluminum acquisitions since March 2006, and three offshore alumina projects are on the right track. In addition, Chalco pays very generous dividend. Given its overall positive prospects, we are maintaining our Buy recommendation on Chalco shares.


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki