1H2025 earnings grew by 35.0% YoY, in line with the previous positive profit alert. The profit growth in 1H2025 was mainly attributable to three factors: 1) margin improvement driven by higher prices of primary aluminum and alumina; 2) improved operational efficiency (SG&A expenses declined by 5.1% YoY to RMB2.68 bn); and 3) optimized debt structure with lower finance costs (down by 17.7% YoY to RMB1.28 bn). Demonstrating strong confidence in future development, the management announced a share buyback plan ...