Xiao Yaqing, chairman and CEO of Chalco, made the remarks at a press conference on March 12 in Hong Kong tasked for releasing its performance in 2006. He said that shareholders have reached consensus on listing in the domestic stock market, which is waiting for supervisory authority’s ratification due to come at the end of March or early April. No specific timetable has been worked out for the listing, Xiao said.

The preparatory work has been going on wheels and the company will issue bonus stocks for late 2006 after it makes share swap with Shandong Aluminum and Lanzhou Aluminum, said the CEO. The bonus stocks available will worth 1.48 billion yuan (192 million U.S. dollars).

Chalco reported a net profit of 11.745 billion yuan (1.52 billion U.S. dollars) in 2006 despite sliding prices for its main product in the second half of last year. The profit posted a record year on year growth of 67 percent, slightly beyond securities dealers’ expectation, said Xiao. The output increase of alumina and electrolytic aluminum was the main engine for the profit surge.

The company has beefed up acquisitions overseas and merged aluminium makers at home on hopes of boosting production, especially in aluminium, to help mitigate the impact of lower alumina prices. (Edited by Li Xueqing, )