Jiaozuo Wanfang Aluminium Manufacturing Co. Ltd., an aluminium smelting enterprise located in Mid-China's Henan province, announced days ago that the Shenzhen-listed company is likely to be purchased by Aluminium Corporation of China (Chinalco), the country's largest alumina maker and the second largest in the world.
Currently, the unit price of Jiaozuo Wanfang's shares has been enhanced by the buy-out report to an all-time high of CNY 10.55.
According to Wanfang, the company's main business enjoyed a shining growth of 504.12 per cent year over year, and realized a total net profit of about CNY 274.7992 million last year.
Presently, Chinalco is the chief shareholder of the Henan-based company. However, fierce competitions still exist between the two in aluminium processing field.
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