China Alcoa Shandong subsidiary of China Aluminum (02600) plans to increase the capital of Shandong Engineering by 200 million yuan according to the shareholding ratio

According to the Zhitong Finance App, China Aluminum (02600) announced that Shandong Engineering is a subsidiary of China Alcoa Group, the company's controlling shareholder. China Alcoa Shandong, a wholly-owned subsidiary of the company, holds 40% of the shares in Shandong Project, and China Alcoa International, a holding subsidiary of China Alcoa Group, holds 60% of the shares in Shandong Engineering. In order to optimize the capital structure of Shandong Engineering, support its business development, and make better use of industrial synergy, China Alcoa Shandong and China Alcoa International plan to increase the capital of Shandong Project by RMB 500 million in cash according to the equity ratio. Among them, China Alcoa Shandong will increase its capital by RMB 200 million and China Alcoa International by RMB 300 million. After the capital increase is completed, the registered capital of the Shandong Project will increase from the current RMB 274.607 million to RMB 774.670 million, and the shareholding ratio of China Alcoa Shandong and China Alcoa International will remain unchanged.

Shandong Engineering is an important part of the company's construction of a world-class fine alumina high-end base. It leverages the advantages of the “design, manufacturing and construction” system, focuses on the development of the fine alumina industry, and provides important support for CCALCO Shandong to build a high-end base for fine alumina. Through this capital increase, it is possible to give full play to the synergy of the industrial chain, optimize the capital structure of the Shandong project, promote its healthy development, continuously enhance scientific and technological innovation and R&D capabilities, provide high-quality services for the upgrading of the fine alumina industry of CCALCO Shandong, maintain the leading edge of the company's fine alumina products in the industry, enhance product competitiveness, and help the high-quality and rapid development of the fine alumina industry.