Jiaozuo Wanfang Aluminum Co., Ltd. Expects Turnover Doubles in 2007

Jiaozuo Wanfang Aluminum Co., Ltd. achieves a turnover of 3.56 billion yuan in the first three quarters increasing by 22.1% and gains profits of about 0.56 billion yuan increasing by 200%, equally 1.168 yuan per share, compared with the same period of last year.

Meanwhile, the company expects a great growth ratio of 150-200% over the same period of last year.

In addition, the company announces it has signed ¡° Alumina Long-term Purchase Contract¡± with Chalco, performed by both parties from October 1, 2007 to December 31, 2007. Total purchase amount is up to 954,000 ton, respectively 114,000 ton in 2007 and 280,000 ton/year during 2008-2010 periods. On the basis of monthly payment, the payer is said to pay total money of goods in advance. The price is fixed according to 17% of aluminum ingot price weighted average of March futures in Shanghai Futures Exchange.

The transfer quantity accounts for about 35% of total alumina demand. The execution of this contract is aimed at ensuring a stable supply for company¡¯s raw material and reducing production & management risk.

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