|
|
|
Year ended December 31, 2015 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
Inter- |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
segment |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
eliminations |
|
Total |
|
Total revenue |
|
33,497,260 |
|
36,973,230 |
|
4,290,915 |
|
94,131,114 |
|
302,377 |
|
(45,527,229) |
|
123,667,667 |
|
Inter-segment revenue |
|
(26,643,874) |
|
(8,861,390) |
|
(98,124) |
|
(9,908,906) |
|
(14,935) |
|
45,527,229 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of self-produced products (Note (i)) |
|
|
|
|
|
|
|
23,294,776 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of products sourced from external suppliers |
|
|
|
|
|
|
|
60,927,432 |
|
|
|
|
|
|
|
Revenue from external customers |
|
6,853,386 |
|
28,111,840 |
|
4,192,791 |
|
84,222,208 |
|
287,442 |
|
— |
|
123,667,667 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit/(loss) before income tax |
|
1,895,706 |
|
(1,386,922) |
|
(74,153) |
|
(1,234,554) |
|
733,760 |
|
188,104 |
|
121,941 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
225,961 |
|
Profit for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
347,902 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income |
|
204,580 |
|
20,820 |
|
39,231 |
|
265,372 |
|
282,456 |
|
— |
|
812,459 |
|
Finance costs |
|
(1,081,381) |
|
(1,347,593) |
|
(1,016,869) |
|
(562,645) |
|
(1,971,001) |
|
— |
|
(5,979,489) |
|
Share of profits and losses of joint ventures |
|
— |
|
— |
|
6,979 |
|
— |
|
16,259 |
|
— |
|
23,238 |
|
Share of profits and losses of associates |
|
— |
|
(2,027) |
|
270,963 |
|
— |
|
15,595 |
|
— |
|
284,531 |
|
Amortization of land use rights |
|
(44,591) |
|
(28,989) |
|
(12,557) |
|
(15) |
|
(18,307) |
|
— |
|
(104,459) |
|
Depreciation and amortization (excluding the amortization of land use rights) |
|
(3,066,608) |
|
(2,871,447) |
|
(1,203,659) |
|
(27,526) |
|
(114,840) |
|
— |
|
(7,284,080) |
|
Gain/(loss) on disposal of property, plant and equipment and land use rights |
|
218,384 |
|
1,747,796 |
|
(611) |
|
56,120 |
|
296,168 |
|
— |
|
2,317,857 |
|
Other income |
|
316,536 |
|
1,369,644 |
|
79,611 |
|
12,816 |
|
9,167 |
|
— |
|
1,787,774 |
|
Gain on disposal of Shanxi Huaxing |
|
1,035,254 |
|
— |
|
— |
|
— |
|
1,552,880 |
|
— |
|
2,588,134 |
|
Partial disposal of Jiaozuo Wanfang |
|
— |
|
— |
|
— |
|
— |
|
832,369 |
|
— |
|
832,369 |
|
Impairment of property, plant and equipment |
|
— |
|
— |
|
(10,011) |
|
— |
|
— |
|
— |
|
(10,011) |
|
Change for impairment of inventories (Note (ii)) |
|
(219,997) |
|
55,288 |
|
7,417 |
|
(459,575) |
|
— |
|
— |
|
(616,867) |
|
Reversal of provision for impairment of receivables, net |
|
5,389 |
|
40,603 |
|
64,417 |
|
121,741 |
|
— |
|
— |
|
232,150 |
|
Investments in associates |
|
21,000 |
|
312,286 |
|
2,323,968 |
|
118,352 |
|
2,827,095 |
|
— |
|
5,602,701 |
|
Investments in joint ventures |
|
1,886,083 |
|
— |
|
1,412,223 |
|
— |
|
1,852,581 |
|
— |
|
5,150,887 |
|
Capital expenditure in: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
5,167 |
|
872 |
|
27,991 |
|
580 |
|
— |
|
— |
|
34,610 |
|
Land use rights |
|
— |
|
133,686 |
|
5,938 |
|
— |
|
— |
|
— |
|
139,624 |
|
Property, plant and equipment(Note (iii)) |
|
5,523,144 |
|
1,862,662 |
|
2,377,708 |
|
16,930 |
|
412,632 |
|
— |
|
10,193,076 |
|
(i) |
The sales of self-produced products include sales of self-produced alumina amounting to RMB12,699 million, sales of self-produced primary aluminum amounting RMB8,099 million, and sales of self-produced other products amounting to RMB2,497 million. |
|
(ii) |
Change for impairment of inventories do not include change for impairment due to disposal of subsidiaries and transferred to non-current assets held for sale. |
|
(iii) |
The additions in property, plant and equipment under sale and leaseback contracts are not included in capital expenditure in property, plant and equipment. |
|
|
|
Year ended December 31, 2016 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
Inter- |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
segment |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
eliminations |
|
Total |
|
Total revenue |
|
30,027,317 |
|
34,464,194 |
|
4,519,806 |
|
114,345,851 |
|
504,355 |
|
(39,632,607) |
|
144,228,916 |
|
Inter-segment revenue |
|
(20,508,466) |
|
(4,981,936) |
|
(137,460) |
|
(13,906,423) |
|
(98,322) |
|
39,632,607 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of self-produced products (Note (i)) |
|
|
|
|
|
|
|
18,292,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of products sourced from external suppliers |
|
|
|
|
|
|
|
82,146,479 |
|
|
|
|
|
|
|
Revenue from external customers |
|
9,518,851 |
|
29,482,258 |
|
4,382,346 |
|
100,439,428 |
|
406,033 |
|
— |
|
144,228,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit/(loss) before income tax |
|
910,426 |
|
2,183,826 |
|
33,408 |
|
809,063 |
|
(1,993,161) |
|
(318,017) |
|
1,625,545 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
(404,172) |
|
Profit for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
1,221,373 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income |
|
302,230 |
|
36,139 |
|
51,897 |
|
226,941 |
|
198,522 |
|
— |
|
815,729 |
|
Finance costs |
|
(1,016,455) |
|
(1,226,821) |
|
(987,422) |
|
(329,454) |
|
(1,459,756) |
|
— |
|
(5,019,908) |
|
Share of profits and losses of joint ventures |
|
(41,367) |
|
— |
|
(28,312) |
|
— |
|
(25,829) |
|
— |
|
(95,508) |
|
Share of profits and losses of associates |
|
— |
|
958 |
|
87,359 |
|
(810) |
|
27,584 |
|
— |
|
115,091 |
|
Amortization of land use rights |
|
(43,523) |
|
(27,464) |
|
(11,172) |
|
(15) |
|
(17,550) |
|
— |
|
(99,724) |
|
Depreciation and amortization (excluding the amortization of land use rights) |
|
(2,847,343) |
|
(2,598,984) |
|
(1,298,483) |
|
(54,724) |
|
(88,095) |
|
— |
|
(6,887,629) |
|
Gain on disposal of property, plant and equipment and land use rights |
|
191,364 |
|
361,155 |
|
253,566 |
|
2,890 |
|
7,746 |
|
— |
|
816,721 |
|
Unrealized gains on futures, forward and option contracts, net |
|
— |
|
16,778 |
|
— |
|
109,906 |
|
27,901 |
|
— |
|
154,585 |
|
Realized loss on futures, forward and option contracts, net |
|
(1,297) |
|
(271,000) |
|
— |
|
(457,702) |
|
(560,268) |
|
— |
|
(1,290,267) |
|
Other income |
|
440,592 |
|
195,380 |
|
57,600 |
|
40,085 |
|
11,612 |
|
— |
|
745,269 |
|
Impairment of property, plant and equipment |
|
(35,893) |
|
(18,239) |
|
(2,948) |
|
— |
|
— |
|
— |
|
(57,080) |
|
Changes for impairment of inventories |
|
684,271 |
|
505,595 |
|
159 |
|
471,218 |
|
1,145 |
|
— |
|
1,662,388 |
|
Reversal of provision/(provision) for impairment of receivables, net |
|
53,144 |
|
198 |
|
(836) |
|
(5,838) |
|
— |
|
— |
|
46,668 |
|
Gain on disposal of associates |
|
— |
|
— |
|
— |
|
— |
|
128,833 |
|
— |
|
128,833 |
|
Gain on disposal and dividends of available for sale |
|
— |
|
— |
|
1,000 |
|
— |
|
139,929 |
|
— |
|
140,929 |
|
Investments in associates |
|
69,000 |
|
313,244 |
|
2,351,845 |
|
146,926 |
|
3,045,518 |
|
— |
|
5,926,533 |
|
Investments in joint ventures |
|
2,631,546 |
|
— |
|
1,559,966 |
|
— |
|
2,048,688 |
|
— |
|
6,240,200 |
|
Additions during the period: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
336,603 |
|
3 |
|
6,857 |
|
509 |
|
127 |
|
— |
|
344,099 |
|
Land use rights |
|
— |
|
26 |
|
20,937 |
|
— |
|
— |
|
— |
|
20,963 |
|
Investment properties |
|
50,285 |
|
3,354 |
|
— |
|
38,628 |
|
— |
|
— |
|
92,267 |
|
Property, plant and equipment (Note (ii)) |
|
2,455,064 |
|
4,118,544 |
|
1,582,039 |
|
42,476 |
|
143,736 |
|
— |
|
8,341,859 |
Note:
(i)The sales of self-produced products include sales of self-produced alumina amounting to RMB12,795 million, sales of self-produced primary aluminum amounting RMB3,684 million, and sales of self-produced other products amounting to RMB1,814 million.
(ii)The additions to property, plant and equipment under sale and leaseback contracts (note 20) are not included.
|
|
|
Year ended December 31, 2017 |
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
|
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
Inter-segment |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
eliminations |
|
Total |
|
Total revenue |
|
38,079,105 |
|
47,245,646 |
|
6,250,966 |
|
146,814,520 |
|
645,314 |
|
(58,954,801) |
|
180,080,750 |
|
Inter-segment revenue |
|
(24,413,258) |
|
(10,693,678) |
|
(517,269) |
|
(23,159,115) |
|
(171,481) |
|
58,954,801 |
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of self-produced products (Note (i)) |
|
|
|
|
|
|
|
23,158,952 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales of products sourced from external suppliers |
|
|
|
|
|
|
|
100,496,453 |
|
|
|
|
|
|
|
Revenue from external customers |
|
13,665,847 |
|
36,551,968 |
|
5,733,697 |
|
123,655,405 |
|
473,833 |
|
— |
|
180,080,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment profit/(loss) before income tax |
|
3,251,751 |
|
826,632 |
|
(171,310) |
|
730,131 |
|
(1,728,563) |
|
97,575 |
|
3,006,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax expense |
|
|
|
|
|
|
|
|
|
|
|
|
|
(642,267) |
|
Profit for the year |
|
|
|
|
|
|
|
|
|
|
|
|
|
2,363,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other items |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income |
|
232,625 |
|
83,996 |
|
44,015 |
|
192,327 |
|
153,336 |
|
— |
|
706,299 |
|
Finance costs |
|
(695,162) |
|
(1,212,249) |
|
(1,000,767) |
|
(467,090) |
|
(1,814,661) |
|
— |
|
(5,189,929) |
|
Share of profits and losses of joint ventures |
|
82,619 |
|
— |
|
(383,263) |
|
1,885 |
|
306,910 |
|
— |
|
8,151 |
|
Share of profits and losses of associates |
|
— |
|
(16,887) |
|
(181,667) |
|
9,463 |
|
23,842 |
|
— |
|
(165,249) |
|
Amortization of land use rights |
|
(47,263) |
|
(25,120) |
|
(6,376) |
|
(15) |
|
(17,300) |
|
— |
|
(96,074) |
|
Depreciation and amortization (excluding the amortization of land use rights) |
|
(2,085,476) |
|
(3,253,801) |
|
(1,514,495) |
|
(85,085) |
|
(86,201) |
|
— |
|
(7,025,058) |
|
Gain on disposal of property, plant and equipment and land use rights |
|
47,595 |
|
40,106 |
|
(12,826) |
|
1,673 |
|
543 |
|
— |
|
77,091 |
|
Realized gain/(loss) on futures, forward and option contracts, net |
|
3,398 |
|
(47,730) |
|
1,585 |
|
(24,953) |
|
43,749 |
|
— |
|
(23,951) |
|
Other income |
|
179,736 |
|
79,038 |
|
37,940 |
|
31,060 |
|
14,397 |
|
— |
|
342,171 |
|
Impairment of property, plant and equipment |
|
— |
|
— |
|
(15,632) |
|
— |
|
— |
|
— |
|
(15,632) |
|
Fair value loss |
|
— |
|
(17,033) |
|
— |
|
(92,719) |
|
(21,321) |
|
— |
|
(131,073) |
|
Changes for impairment of inventories (Note (ii)) |
|
71,973 |
|
64,734 |
|
4,488 |
|
722 |
|
5,287 |
|
— |
|
147,204 |
|
Reversal of/(provision for) impairment of receivables, net of bad debts recovered |
|
26 |
|
269 |
|
(25,119) |
|
(18,396) |
|
— |
|
— |
|
(43,220) |
|
Gain on disposal and dividends of available for sale |
|
— |
|
2,792 |
|
— |
|
— |
|
76,616 |
|
— |
|
79,408 |
|
Investments in associates |
|
90,875 |
|
296,357 |
|
2,170,178 |
|
184,149 |
|
4,193,471 |
|
— |
|
6,935,030 |
|
Investments in joint ventures |
|
2,809,758 |
|
— |
|
878,196 |
|
28,865 |
|
2,290,805 |
|
— |
|
6,007,624 |
|
Additions during the period: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Intangible assets |
|
— |
|
197 |
|
284,509 |
|
372 |
|
89 |
|
— |
|
285,167 |
|
Land use rights |
|
— |
|
— |
|
27,956 |
|
25,199 |
|
6,060 |
|
— |
|
59,215 |
|
Property, plant and equipment (Note (iii)) |
|
2,558,737 |
|
5,533,168 |
|
1,268,051 |
|
60,805 |
|
256,093 |
|
— |
|
9,676,854 |
Note:
|
(i) |
The sales of self-produced products include sales of self-produced alumina amounting to RMB13,187 million, sales of self-produced primary aluminum amounting RMB6,680, and sales of self-produced other products amounting to RMB3,292 million. |
|
(ii) |
Change for impairment of inventories do not include change for impairment due to disposal of subsidiaries. |
(iii)The additions to property, plant and equipment under sale and leaseback contracts (note 20) are not included.
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
Total |
|
As at December 31, 2016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets |
|
75,022,795 |
|
46,680,908 |
|
38,078,969 |
|
14,927,762 |
|
37,040,630 |
|
211,751,064 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment receivables |
|
|
|
|
|
|
|
|
|
|
|
(22,023,956) |
|
Other eliminations |
|
|
|
|
|
|
|
|
|
|
|
(746,586) |
|
Corporate and other unallocated assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax assets |
|
|
|
|
|
|
|
|
|
|
|
1,426,707 |
|
Prepaid income tax |
|
|
|
|
|
|
|
|
|
|
|
104,213 |
|
Total assets |
|
|
|
|
|
|
|
|
|
|
|
190,511,442 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment liabilities |
|
42,562,213 |
|
30,023,322 |
|
24,927,277 |
|
11,298,129 |
|
46,596,662 |
|
155,407,603 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment payables |
|
|
|
|
|
|
|
|
|
|
|
(22,023,956) |
|
Corporate and other unallocated liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
|
|
|
984,304 |
|
Income tax payable |
|
|
|
|
|
|
|
|
|
|
|
356,683 |
|
Total liabilities |
|
|
|
|
|
|
|
|
|
|
|
134,724,634 |
|
|
|
|
|
|
|
|
|
|
|
Corporate |
|
|
|
|
|
|
|
|
|
|
|
|
|
and other |
|
|
|
|
|
|
|
Primary |
|
|
|
|
|
operating |
|
|
|
|
|
Alumina |
|
aluminum |
|
Energy |
|
Trading |
|
segments |
|
Total |
|
As at December 31, 2017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment assets |
|
69,657,926 |
|
51,996,432 |
|
40,249,776 |
|
18,576,192 |
|
48,271,025 |
|
228,751,351 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment receivables |
|
|
|
|
|
|
|
|
|
|
|
(30,077,354) |
|
Other eliminations |
|
|
|
|
|
|
|
|
|
|
|
(194,763) |
|
Corporate and other unallocated assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax assets |
|
|
|
|
|
|
|
|
|
|
|
1,602,825 |
|
Prepaid income tax |
|
|
|
|
|
|
|
|
|
|
|
64,557 |
|
Total assets |
|
|
|
|
|
|
|
|
|
|
|
200,146,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment liabilities |
|
33,106,617 |
|
29,811,892 |
|
27,504,055 |
|
13,063,870 |
|
60,019,710 |
|
163,506,144 |
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Elimination of inter-segment payables |
|
|
|
|
|
|
|
|
|
|
|
(30,077,354) |
|
Corporate and other unallocated liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax liabilities |
|
|
|
|
|
|
|
|
|
|
|
993,742 |
|
Income tax payable |
|
|
|
|
|
|
|
|
|
|
|
210,205 |
|
Total liabilities |
|
|
|
|
|
|
|
|
|
|
|
134,632,737 |