1934 ACT FILE NO. 001-15264

         Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

         Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(1): __________

         Indicate by check mark if the registrant is submitting the Form 6-K in papers as permitted by Regulation S-T Rule 101(b)(7): __________

         Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

         If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-              

          Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date  September 3, 2013       

By                 /s/    Xu Bo                     
Name: Xu Bo
Title: Company Secretary

Certain statements contained in this announcement may be regarded as "forward-looking statements" within the meaning of the U.S. Securities Exchange Act of 1934, as amended. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Further information regarding these risks, uncertainties and other factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The forward-looking statements included in this announcement represent the Company's views as of the date of this announcement. While the Company anticipates that subsequent events and developments may cause the Company's views to change, the Company specifically disclaims any obligation to update these forward-looking statements, unless required by applicable laws. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this announcement.

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Aluminum Corporation of China Limited*
(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2600)

The Board of Directors (the "Board") of Aluminum Corporation of China Limited* (the "Company") is pleased to announce the unaudited interim results of the Company and its subsidiaries (together the "Group") for the six months ended 30 June 2013. This announcement, containing the full text of the 2013 Interim Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcements of interim results. This 2013 interim results announcement of the Company is available for viewing on the websites of Hong Kong Exchanges and Clearing Limited at www.hkexnews.hk and of the Company at www.chalco.com.cn.

CONTENTS

Corporate Information

2

Market Review

6

Business Review

7

Outlook and Prospects

11

Interim Results

13

Interim Dividend

13

Management's Discussion and Analysis of Financial Conditions and Results of Operations

14

Discussion of Segment Operations

18

Investment of the Company

25

Directors, Supervisors and Senior Management

26

Employees, Pension Plans and Welfare Fund

26

Particulars of Share Capital Structure, Changes and Shareholders

27

Substantial Shareholders with Shareholding of 5% or more

28

Changes in Share Capital

29

Approval of Changes in Share Capital

29

Total Number of Shareholders at the End of the Reporting Period

29

Shareholdings of the Top Ten Shareholders

30

Interests in Shares Held by Directors, Chief Executive and Supervisors

31

Repurchase, Sale and Redemption of the Company's Shares

31

Charge and Pledges on Group Assets

31

External Guarantees Provided by the Company

32

Corporate Governance

33

Code of Conduct for Securities Transactions by the Directors,

   Supervisors and Relevant Employees

34

Audit Committee

35

Significant Events

36

Independent Review Report

42

Unaudited Interim Condensed Consolidated Financial Statements

44

CORPORATE INFORMATION

1.

Registered name

:

Abbreviation of Chinese

:

   registered name

English name

:

ALUMINUM CORPORATION OF CHINA LIMITED

Abbreviation of English

:

CHALCO

   registered name

2.

First registration date

:

September 10, 2001

Registered address

:

No. 62 North Xizhimen Street,

Haidian District, Beijing, the PRC

(Postal Code: 100082)

Place of business

:

No. 62 North Xizhimen Street,

Haidian District, Beijing, the PRC

(Postal Code: 100082)

Principal place of business

:

6/F, Nexxus Building,

   in Hong Kong

41 Connaught Road,

Central, Hong Kong

Internet website of the Company

:

http://www.chalco.com.cn

E-mail of the Company

:

IR@chalco.com.cn

3.

Legal representative

:

Xiong Weiping

Company (Board) Secretary

:

Xu Bo

Telephone

:

(8610)8229 8322

Fax

:

(8610)8229 8158

E-mail

:

IR@chalco.com.cn

Address

:

No. 62 North Xizhimen Street,

Haidian District, Beijing, the PRC

(Postal Code: 100082)

Representative of the Company's

:

Yang Ruijun

   securities affairs

Telephone

:

(8610)8229 8322

Fax

:

(8610)8229 8158

E-mail

:

IR@chalco.com.cn

Address

:

No. 62 North Xizhimen Street,

Haidian District, Beijing, the PRC

(Postal Code: 100082)

Department for corporate

:

Office to the Board

   information and inquiry

Telephone for corporate

:

(8610)8229 8322/8229 8157

   information and inquiry

4.

Share registrar and transfer office

H shares

:

Hong Kong Registrars Limited

17M Floor, Hopewell Centre,

183 Queen's Road East, Wanchai, Hong Kong

A shares

:

China Securities Depository and

Clearing Company Limited,

Shanghai Branch

3/F, China Insurance Building,

No. 166, Lujiazui Road (East),

Shanghai, the PRC

American Depositary Receipt

:

The Bank of New York Corporate Trust Office

101 Barclay Street, New York,

NY 10286 USA

5.

Places of listing

:

The Stock Exchange of Hong Kong Limited

New York Stock Exchange

Shanghai Stock Exchange

Stock name

:

CHALCO

Stock code

:

2600 (HK)

ACH (US)

601600 (PRC)

6.

Principal bankers

:

Industrial and Commercial Bank of China

China Construction Bank

7.

Independent auditors

:

Ernst & Young

Certified Public Accountants

22/F, CITIC Tower,

1 Tim Mei Avenue,

Central, Hong Kong

Ernst & Young Hua Ming LLP

16/F, Ernst & Young Tower, Oriental Plaza,

1 East Chang'an Avenue, Dongcheng District,

Beijing, the PRC

(Postal Code: 100738)

8.

Legal advisers

:

as to Hong Kong law:

Baker & McKenzie

23/F, One Pacific Place,

88 Queensway,

Hong Kong

as to United States law:

Baker & McKenzie

23/F, One Pacific Place,

88 Queensway,

Hong Kong

as to the PRC law:

Jincheng Tongda & Neal

10/F, China World Trade Tower

Jianguomenwai Avenue, Chaoyang District,

Beijing, the PRC

The board of directors (the "Board") of Aluminum Corporation of China Limited* (the "Company") announces the unaudited interim results of the Company and its subsidiaries (together the "Group") for the six months ended June 30, 2013. On behalf of the Board and all of its employees, the Board would like to express its gratitude to all shareholders for their attention and support to the Company.

MARKET REVIEW

ALUMINA MARKET

From January to June 2013, the global capacity of alumina continued to increase. The increase in China's alumina capacity exceeded that of the international market. According to statistics, the global capacity utilization rate of alumina was approximately 77.69% as at the end of June while that of China was approximately 84.05%. In the first half of the year, the global output and consumption of alumina were approximately 49.14 million tonnes and 48 million tonnes respectively, representing a year-on-year increase of 2.82% and 6.93%, respectively. China's output and consumption of alumina were approximately 21.38 million tonnes and 23.00 million tonnes respectively, representing a year-on-year increase of 12.17% and 21.56%, respectively. Imported alumina was approximately 1.65 million tonnes, representing a year-on-year decrease of 33.20%.

In the first half of the year, the global alumina market witnessed an initial rise followed by a fall. The FOB price of spot alumina of Australia hit a record high at USD347 per tonne and a record low at USD325 per tonne, with an average price of USD333 per tonne, representing a year-on-year increase of 4.89%. The domestic market continued to experience an unqualified downward trend, with a record high and a record low of domestic price of spot alumina at RMB2,578 per tonne and RMB2,472 per tonne, respectively, with an average price of RMB2,536 per tonne, representing a year-on-year decrease of 3.47%.

PRIMARY ALUMINUM MARKET

From January to June 2013, the global capacity of primary aluminum continued to increase. As at the end of June, the global capacity utilization rate of primary aluminum was approximately 85.67%, while that of China was approximately 89.29%. In the first half of the year, the global output and consumption of primary aluminum were approximately 24.50 million tonnes and 24.47 million tonnes, respectively, representing a year-on-year increase of 6.24% and 5.93%, respectively. China's output and consumption of primary aluminum were 10.58 million tonnes and 10.60 million tonnes respectively, representing a year-on-year increase of 11.49% and 10.42%, respectively.

During the first half of 2013, there was a slowdown in the growth of demand from aluminum end-customers and the global primary aluminum market saw excess supply. The problem of excess market supply became more prominent in China. In the first half of the year, the price of three-month aluminum futures at London Metal Exchange (LME) reached a record high at USD2,160 and a record low at USD1,764 per tonne, with an average price of USD1,955 per tonne, representing a year-on-year decrease of 7.61%. The price of three-month aluminum futures at Shanghai Futures Exchange (SHFE) reached a record high at RMB15,350 per tonne and a record low at RMB14,240 per tonne, with an average price of RMB14,885 per tonne, representing a year-on-year decrease of 7.62%.

ALUMINUM FABRICATION MARKET

In the first half of the year, the growth in the industry demand from aluminum product end-users slowed down in line with a slow-down in the growth of the national economy. As a result, the growth in the demand of aluminum fabrication slowed down. Meanwhile, the long fall in the prices of LME and SHFE resulted in declining exports of aluminum fabrication. The scale and capacity of domestic aluminum fabrication enterprises continued to expand and the standard of installed capacity continued to improve, resulting in more and more intensified competitions in the aluminum fabrication market.

BUSINESS REVIEW

During the first half of 2013, the production and operation of the Company as well as the capacity of production remained steady. The output of alumina amounted to 6.08 million tonnes, representing a year-on-year increase of 1.84%; the output of alumina chemicals amounted to 0.76 million tonnes, representing a year-on-year increase of 20.63%; the output of primary aluminum products amounted to 2.03 million tonnes, representing a year-on-year decrease of 0.49%; the output of coal amounted to 2.42 million tonnes; and power generation volume (excluding self-supply power plants) amounted to 4.041 billion kWh.

In the first half of the year, the world economy lacked momentum in recovery. The national economy was under structural adjustment and transformation of the development model. The price of bulk commodities in the globe fluctuated and kept declining due to factors such as the slowing down of economic growth. The prices of the principal products of the Company kept declining. Confronted by the extremely hostile market scenario, the Company adopted a series of proactive and effective countermeasures:

1.

The Company furthered its efforts in restructuring and strategic transformation. In the first half of 2013, the Company adjusted its development strategies after analyzing the elements of the overall structural challenges of the aluminum industry and its development needs diligently. It aspired to strengthen the industry through vigorous acquisitions and development of high-quality bauxite resources, and leveraged such advantages over resources to develop the core business of alumina. It optimized and developed the aluminum business which provided the Company with integrated advantages over coal-electricity-aluminum production. In the first half of the year, the Company completed the transfer of the aluminum fabrication assets and the assets of the alumina production line of Guizhou Branch, which improved its structures of assets and liabilities effectively and reduced the debt to asset ratio accordingly.

2.

The Company further promoted the transformation of operations and upgraded its management. In the first half of 2013, transformation of operations of the Company had been carried out which covered preliminarily in 25 entities and 14 professional areas. The Company emphasized the transformation from "being professional" to "being systematic", from "being micro" to "macro". The target of the upgrading of management altered from major entities to auxiliary entities, from branches to workshops and teams. The Company prioritized operational transformation and set its quantitative aim of controlling costs and increasing profits according to its production operation, financial management, sales management, procurement management etc. The percentage of excellent class alumina increased by 4.55 percentage points as compared with the corresponding period of the preceding year. The consolidated energy consumption decreased by 7.92% as compared with the corresponding period of the preceding year. The rate of completion of aluminum ingots AL99.70 grew by 0.11 percentage point as compared with the corresponding period of the preceding year. The consumption of alternating current in aluminum ingot production decreased by 109kWh/t as compared to the corresponding period of the preceding year. The consolidated rate of qualification of anode carbon block increased by 0.12 percentage point as compared with the corresponding period of the preceding year. The maintenance expenses of equipment decreased by 7.80% as compared with the corresponding period of the preceding year. The Company strengthened its mine facilities and enhanced its management. It also enhanced the proportion of its self-developed mines, the rate of the integrated use of associated resources and streamlined the settlement of the ore cost. Meanwhile, it maintained the supply of its imported ore proactively and made efforts to expand the channels of ore supply in the places other than Indonesia.

3.

The Company enhanced self-innovation and accelerated achievement transformation. In the first half of 2013, the Company revised its technological development plan and identified its aim of technological development by consolidating its current business conditions and development strategy. The Company focused on the introduction and implementation of major technological projects such as the new series process of production, the consolidated technology of high sulphur bauxite production of alumina, the consolidated technology of safe and efficient bauxite mining under complicated conditions, the technology of consolidated utilization of high-iron-content Bayer red mud and co-products of iron and aluminum () and the technological research and development of electrolytic cells of ultra-high capacity. It continued to transform and apply mature technologies, such as the highly efficient Bayer process technology, the "201" technology and the new cathode steel bar technologies.

4.

The Company enhanced its marketing and improved its capacity of cost reduction. In the first half of 2013, facing a severe market trend, the Company improved its study and analysis of the market to enhance its knowledge of the market. It explored many profit-generating models from various pricing mechanisms. It maintained a reasonable level of stock and increased its benefits by leveraging the fluctuations of the domestic and international spots and futures markets. It also launched its futures and options businesses and developed hedge and risk hedging ability of futures. Leveraging futures as hedging tools, it kept itself unscathed by the unfavorable impacts of declining market prices. The realised price of alumina was higher than the average domestic spot price by RMB63 per tonne, while that of realised price of aluminum products marked higher than the price of Shanghai Futures Exchange by RMB84 per tonne. The Company purchased bulk materials in a centralized manner by centralizing the negotiation and signing contracts separately. The cost of the procurement was thus reduced and the supply was secured. The Company introduced lean procurement, set up the "Evaluation Methods of the Procurement System" (), and established a cross-level and cross-department tracking and supervisory system and a security mechanism.

5.

The Company secured funding and strictly controlled finance costs. It kept diversifying its financing activities into various kinds and various channels and obtained sufficient banking facilities and debt financing instruments registered at NAFMII (). As at the end of June, the unutilized banking facilities and debt financing instruments of the Company amounted to RMB92.5 billion and RMB20.0 billion respectively. The Company strengthened the management of current assets and current liabilities to speed up the recovery of the receivables and raise the efficiency of capital utilization. The Company implemented numerous measures at the same time, which ensured a net operating cash inflows of RMB1.662 billion, representing a year-on-year increase of RMB3.477 billion. As at the end of June, the weighted average interest rate of the interest-bearing loans fell by 0.11 percentage point as compared to the beginning of this year. The annual capital expenditure budget of 2013 was significantly reduced by 45% as compared to the actual amount during the same period of 2012.

6.

The Company launched the reform of "market-orientation and open manner" and stimulated impetus within the enterprise. In the first half of 2013, the Company completed the recruitments of general managers for five enterprises, such as Shanxi Huaze, implemented an accountability system on the management team in accomplishing business objective for risk premium, the clarification of 3-year operational objectives, the empowerment of the general managers in personnel distribution, work distribution, appraisal and allocation, as well as the comprehensive organization of production and operations according to the principles of market-orientation, legal and regulatory compliance and safety and stability. A market-based personnel selection and designation system and a target-based responsibility management system were formed preliminarily. The market orientation reform proved to be successful at the primary stage, with much stronger impetus in operation and management and improving corporate performance. In August 2013, the Company completed the market-orientation reforms of two enterprises, namely Lanzhou Branch and Baotou Aluminum Co., Ltd.

7.

The Company strived to safety production and environment protection. As the Company expanded its scale, there was a further increase in energy and resource consumption. In the meantime, the quality of bauxite and coal declined. All the above imposed greater and greater pressure to safety production and environment protection. In the first half of 2013, the Company continued to enhance the establishment of an accountability system of safety, environmental protection and health. It continued to improve and enhance the level of the standardization of safe production. It strengthened the consolidated penalty of violations of regulations and the elimination of potential risks. It also introduced a consolidated governance of carbon enterprises and the safety management of mines. It strengthened the education and trainings of safety and optimized plans for onsite management of entity enterprises.

OUTLOOK AND PROSPECTS

In the second half of 2013, the world economy saw a lacklustre recovery with uncertainties abound. China's economy, albeit being steady as a whole, enters a stage of structural adjustment as it grapples with overcapacity and other contradictions. There was no alleviation for the oversupply of the Company's principal products and the market is likely to turn more gloomy. The Company will continue to introduce structural adjustment, deepen the reform of "market-orientation and open manner", and push forward the transformation of operations and improvement of its management. Furthermore, it will strengthen its capital management, maintain safety production and endeavor to reduce losses significantly for a turnaround, which is the business target for the year. The principal tasks are as follows:

1.

The Company will further make structural adjustment according to its strategy. The Company will further research on plans and measures of assets restructuring according to its long-term development and short-term benefits. The Company will suspend production of, merge and transfer those production lines or enterprises where breakeven could not be achieved. The energy segment, subject to safety, will improve the mining technology and the quality and quantity of coal and aspire to strike a balance between production and sales. The Company will reduce costs by means of technology. It will accelerate the industrial implementation of new technologies, such as the dissolution of sodium carbon clinker and the application of highly conductive electrolyte. The Company will strive to develop the entire flotation of desulphurization technology. The Company will continue to proceed with the Simandou Project, accelerate the exploration process of the bauxite mining project of the joint venture in Laos and meet the target of the increase in bauxite production of the joint venture in Indonesia. The Company will accelerate the implementation of the preliminary work of the alumina project in West Kalimantan, Indonesia. It will speed up the preparation for the transfer of production capacity in Guizhou Branch and the integrated coal-electricity-aluminum project.

2.

The Company will expedite the technological innovation and reduce the cost through technology. It will strengthen the application of key technological projects and make breakthroughs in significant key technologies. It will continue to speed up the transformation, promotion and application of mature technologies, such as the highly efficient Bayer technology, the "201" technology and the new cathode steel bar technologies.

3.

The Company will further introduce the "market orientation and open manner" reform. Such reform triggered the enterprise's momentum and vitality. The Company will launch the reform of marketization in several key enterprises on the basis of summarizing the experience drawn from the enterprise reform seriously. The Company will issue the "Human Resources Plan for 2013-2015 of Aluminum Corporation of China Limited*" () which emphasizes the training and the enrollment of talents specialized in mining, energy and overseas development.

4.

The Company will continue to transform its operations and refine its management comprehensively. It will strengthen its operational transformation and daily management, and further promote better management across the basic managing units in the enterprise with a focus on the management and examination at the requests of fundamental levels. It will move forward to strengthen the capability of CBS core team and speed up the development of a standardized CBS module. It will further improve the management in mines and reinforce production safety and construction of the mines to improve the self-supply of the ore.

5.

The Company will strength its market researches to increase sales profits. The Company intends to strengthen its market research so as to improve its market foresight. It will reinforce its operational strategies and methods to capture favorable commercial opportunities. It will strengthen its development in the international market to diversify the sources of its business income and profits. It will continue to boost marketing efforts in the coking coal market and strive to commence coking coal fabrication, trading and export so as to increase the integrated benefits brought by coking coal trading. In addition, it will step up efforts in achieving a balanced product delivery and allocate its resources reasonably to reduce the cost of transportation. The Company will make greater efforts in consolidating negotiations and separating the execution of contracts for bulk materials, further increase the proportion of centralized coal procurement to reduce its logistics cost and formulate and optimize its logistic system development plans.

6.

The Company will enhance capital management and safeguard its funding. It will keep on adhering to the concept of "cash is king". With this in mind, it will prepare various financing plans to ensure financing via multi-channels at a low cost. It will proceed with the issue of perpetual loans to meet its financing target. It will try to secure a relatively significant increase in the net cash inflow from operating activities year on year, maintain its asset-to-liability ratio within a reasonable target and effectively control the financial expenses.

7.

The Company will strengthen production safety and intrinsic safety. It will examine and eliminate potential risks and loopholes according to the requirement of "punishing management for safety risks and ensuring safety with an iron fist" (). It will strengthen its safety responsibility mechanism to prevent accidents and implement the "seven preventions" () during operations in summer, namely "prevention of flood, prevention of collapse, prevention of lightning, prevention of heatstroke, prevention of falls from height, prevention of lifting injuries and prevention of electrical injuries" (). The Company will integrate the quality control system, the environmental management system and the vocational health and safety management system to verify and supervise the examinations. It will raise the awareness of the employees and ensure production safety.

In the second half of 2013, the Company will strive to reduce its losses significantly to meet the business target set for the year, which is to turn losses into profit in order to bring valuable returns to the shareholders of the Company.

INTERIM RESULTS

The operating revenue derived from the Group's continuing operations for the six months ended June 30, 2013 amounted to RMB71,113 million, representing an increase of 6.51% compared with the corresponding period of the preceding year. The revenue of the Group (including that from continuing operations and discontinued operation) was RMB76,641 million, representing an increase of 6.89% compared with the corresponding period of the preceding year. The loss attributable to equity holders of the Company amounted to RMB596 million. Loss per share attributable to equity holders of the Company was RMB0.04.

INTERIM DIVIDEND

The Company will not distribute interim dividend for the six months ended June 30, 2013.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

The following discussion should be read together with the financial information and its notes included in this interim report and other chapters.

BUSINESS SEGMENTS

The Group principally engages in alumina refining, primary aluminum smelting, aluminum fabrication products production and trading of the related products. On January 23, 2013, the Company acquired Chalco Ningxia Energy Group Co., Ltd.* (hereby referred to as "Ningxia Energy"), therefore, the Group newly engaged in energy segment in 2013. On June 27, 2013, the Company disposed of its aluminum fabrication segment, therefore in the first half of 2013, aluminum fabrication segment was still included, but will not be included in the Group's results in the second half of 2013. In accordance with International Financial Reporting Standards, the aluminum fabrication segment was classified as discontinued operation and the operating results of aluminum fabrication segment has been presented as discontinued operation in the interim condensed consolidated statement of comprehensive income for the period ended June 30, 2013. The comparative figures for the six months ended June 30, 2012 for the interim condensed consolidated statement of comprehensive income and related notes were restated to reflect the reclassification between continuing operations and discontinued operation accordingly. Therefore, the comparative figures used in the section of "Management's Discussion and Analysis of Financial Conditions and Results of Operations" were restated to reflect the above restatement. Details on discontinued operation are disclosed in Note 6 to the interim condensed consolidated financial statements. Business segments comprise:

Alumina segment, which consists of mining and purchasing bauxite and other raw materials, refining bauxite into alumina, and selling alumina both internally to the Group's aluminum plants and externally to customers outside the Group. This segment also includes the production and sales of alumina chemicals and metal gallium.

Primary aluminum segment, which consists of procuring alumina, other raw materials, supplemental materials and electricity power, smelting alumina to produce primary aluminum and selling them to the Group's internal aluminum fabrication plants and external customers outside the Group. This segment also includes the production and sales of carbon products, aluminum alloy products, and other aluminum products.

Aluminum fabrication segment, which consists of procuring primary aluminum, other raw materials, supplemental materials and electricity power, and further processing primary aluminum for the production and sales of seven main aluminum fabricated products, including casts, planks, screens, extrusions, forges, powder and die castings.

Trading segment, which consists of the trading of raw materials, fuels and supplemental materials such as alumina, primary aluminum, aluminum fabrication products, other non-ferrous metal products and coal to the internal manufacture plants and external customers in the PRC.

Energy segment, which is mainly engaged in the research, development, production and operation of energy products. The major business consists of coal, electricity generation from coal, wind power and photovoltaic power, new energy equipment production, construction and operation of the integrated solution of coal power supply with its aluminum business, etc.

Corporate and other operating segments, which include corporate and other aluminum-related corporate research and development activities.

RESULTS OF OPERATIONS

The Group's net loss attributable to the shareholders of the parent for the first half of 2013 was RMB596 million, among which losses from continuing operations amounted to RMB832 million, while profits from discontinued operation amounted to RMB236 million (please refer to note 6 to the financial statements for details of discontinued operation). The Group's net loss attributable to the shareholders of the parent for current period decreased significantly by 81.68% from RMB3,253 million of the corresponding period of the preceding year. This was mainly attributable to the Group's strict control of cost and expenses in every aspect, and efforts in enhancement of the gross profit of its major businesses. Besides, the Group recognised gain on the acquisition of Ningxia Energy and its operating profit. Moreover, the Group recognised gain on deemed disposal of the equity interest in Jiaozuo Wanfang and gain from the disposal of aluminium fabrication segment and alumina production line of Guizhou Branch.

REVENUE

The Group's revenue generated from continuing operations for the first half of 2013 was RMB71,113 million, representing an increase of RMB4,344 million or 6.51% from RMB66,769 million of the corresponding period of the preceding year. This was mainly attributable to the increase in external trading volume of the Group, and the newly added revenue of coal and electricity contributed by the newly acquired subsidiary of Ningxia Energy.

COST OF SALES

Cost of sales of the Group from continuing operations was RMB69,768 million for the first half of 2013, representing an increase of RMB3,332 million or 5.02% from RMB66,436 million of the corresponding period of the preceding year, which was 1.49 percentage points lower than the growth in revenue from continuing operations. This was mainly attributable to the increase in the external trading volume of the Group, and the newly added sales of coal and electricity contributed by the newly acquired subsidiary of Ningxia Energy. However, as the Group strictly controlled the cost and expenses in various aspects, the production cost of the principal products fell to some extent as compared with the corresponding period of the preceding year.

In the first half of 2013, the production cost of alumina, the major product of the Group, fell by 8.52% as compared with the corresponding period of the preceding year. In particular, through operational transformation and strengthening of fundamental management, the fall in consumption of raw materials and fuel drove the cost to decrease by 6.01%, the drop of the price of raw materials and fuel drove the cost to decrease by 3.87%, while the rise in the price of bauxite drove the cost up by 1.20%.

In the first half of 2013, the production cost of primary aluminium, the major product of the Group, fell by 6.64% as compared with the corresponding period of the preceding year. In particular, through operational transformation and strengthening of fundamental management, the drop of price in raw materials, fuel and power drove a decrease of 6.08% in cost, and the decrease in the consumption of raw materials, fuel and power drove a decrease of 0.44% in cost, and the change in producing cost drove a decrease of 0.12% in the cost.

SELLING AND DISTRIBUTION EXPENSES

The Group's selling and distribution expenses from continuing operations for the first half of 2013 were RMB847 million, representing a decrease of RMB52 million or 5.78% from RMB899 million of the corresponding period of the preceding year. This was mainly attributable to the decrease in the expenses of transportation and loading due to the Group's strict control of the cost in various aspects.

GENERAL AND ADMINISTRATIVE EXPENSES

General and administrative expenses from continuing operations for the first half of 2013 of the Group were RMB1,257 million, representing an increase of RMB44 million or 3.63% from RMB1,213 million of the corresponding period of the preceding year. Excluding the general and administrative expenses of the newly acquired subsidiary of Ningxia Energy, the general and administrative expenses decreased by 8.33% as compared to the general and administrative expenses of the corresponding period of the preceding year, which was mainly attributable to the Group's strict control of the cost and expenses in various aspects.

OTHER GAINS, NET

In the first half of 2013, other net gain of the Group from continuing operations was RMB1,741 million, representing an increase of RMB1,919 million as compared to other net loss of RMB178 million of the corresponding period of the preceding year. This was mainly attributable to the gain on acquisition of Ningxia Energy and gain from loss of control of Jiaozuo Wanfang through deemed disposal.

Given the major factors described as above, the Group's operating profit from continuing operations was RMB1,426 million for the first half of 2013, representing an increase of RMB3,183 million from the operating loss of RMB1,757 million of the corresponding period of the preceding year.

FINANCE COSTS, NET

The Group's net finance costs from continuing operations for the first half of 2013 were RMB2,606 million, representing an increase of RMB566 million or 27.75% from RMB2,040 million of the corresponding period of the preceding year. This was mainly attributable to the significant increase in scale of interest-bearing borrowings contributed by the consolidation of Ningxia Energy. Excluding the finance costs of the newly acquired subsidiary of Ningxia Energy, the finance costs increased by 7.22%, among which the increase in the average interest-bearing borrowings caused an increase of 20.33% in the net finance costs as compared with the corresponding period of the preceding year, but the increase was offset by the fall in the weighted average interest rate and other factors by 13.11%.

SHARE OF PROFITS OF JOINT VENTURES AND ASSOCIATES

For the first half of 2013, the Group's share of profits of joint ventures and associates from continuing operations amounted to RMB292 million, representing an increase of RMB136 million from RMB156 million of the corresponding period of the preceding year, primarily due to newly added share of profits of joint ventures and associates as a result of the consolidation of Ningxia Energy.

INCOME TAX

The Group's income tax expense from continuing operations for the first half of 2013 was negative RMB34 million, representing an increase of RMB691 million from negative RMB725 million of the corresponding period of the preceding year. This was mainly attributable to the fact that the Group recognised deferred tax assets related to the tax loss generated in the first half of 2012, while most of the tax losses of the Group for the first half of 2013 have not been recognised as deferred tax assets.

DISCUSSION OF SEGMENT OPERATIONS

ALUMINA SEGMENT

Revenue

The Group's revenue from the alumina segment for the first half of 2013 was RMB15,811 million, representing a decrease of RMB84 million or 0.53% from RMB15,895 million of the corresponding period of the preceding year.

The revenue from internal sales of the alumina segment for the first half of 2013 was RMB14,658 million, representing an increase of RMB107 million or 0.74% from RMB14,551 million of the corresponding period of the preceding year.

The revenue from external sales of the alumina segment for the first half of 2013 was RMB1,153 million, representing a decrease of RMB192 million or 14.28% from RMB1,345 million of the corresponding period of the preceding year.

The price for external sales of self-produced alumina for the first half of 2013 was RMB2,204 per tonne (excluding VAT, same hereafter), representing a decrease of RMB167 per tonne or 7.04% from RMB2,371 per tonne of the corresponding period of the preceding year.

Segment Results

The Group's loss in the alumina segment for the first half of 2013 was RMB577 million, representing a decrease of RMB983 million or 63.01% from the loss of RMB1,560 million of the corresponding period of the preceding year.

PRIMARY ALUMINUM SEGMENT

Revenue

The Group's revenue from the primary aluminum segment for the first half of 2013 was RMB26,046 million, representing a decrease of RMB2,213 million or 7.83% from RMB28,259 million of the corresponding period of the preceding year.

The revenue from internal sales of the primary aluminum segment for the first half of 2013 was RMB10,397 million, representing a decrease of RMB2,337 million or 18.35% from RMB12,734 million of the corresponding period of the preceding year.

The revenue from external sales of the primary aluminum segment for the first half of 2013 was RMB15,648 million, representing an increase of RMB122 million or 0.79% from RMB15,526 million of the corresponding period of the preceding year.

The average price for external sales of primary aluminum products for the first half of 2013 was RMB12,648 per tonne (excluding VAT, same hereafter), representing a decrease of RMB1,049 per tonne or 7.66% from RMB13,697 per tonne of the corresponding period of the preceding year.

Segment Results

The Group's loss in the primary aluminum segment for the first half of 2013 was RMB986 million, representing a decrease of RMB230 million or 18.91% from the loss of RMB1,216 million of the corresponding period of the preceding year.

TRADING SEGMENT

Revenue

The Group's revenue from the trading segment for the first half of 2013 was RMB58,054 million, representing an increase of RMB1,162 million or 2.04% from RMB56,892 million of the corresponding period of the preceding year.

The revenue from internal sales of the trading segment was RMB5,775 million for the first half of 2013, representing a decrease of RMB1,154 million or 16.65% from RMB6,929 million of the corresponding period of the preceding year.

The revenue from external sales of the trading segment was RMB52,278 million for the first half of 2013, representing an increase of RMB2,316 million or 4.64% from RMB49,962 million of the corresponding period of the preceding year, among which, the revenue from the external sales of self-produced products was RMB17,196 million, whereas the revenue from the external sales of products from external suppliers was RMB35,082 million.

Segment Results

The profit in the trading segment of the Group was RMB286 million for the first half of 2013, representing an increase of RMB12 million or 4.38% from the profit of RMB274 million of the corresponding period of the preceding year.

ENERGY SEGMENT

Revenue

The Group's revenue from the energy segment for the first half of 2013 was RMB1,967 million, which was mainly attributable to the revenue from sales of coal and electricity by the newly acquired subsidiary of Ningxia Energy.

Segment Results

The profit in the energy segment of the Group was RMB159 million for the first half of 2013, which was mainly attributable to the operating profit contributed by the newly acquired subsidiary of Ningxia Energy.

CORPORATE AND OTHER OPERATING SEGMENTS

Revenue

The Group's revenue from the corporate and other operating segments for the first half of 2013 was RMB306 million, representing a decrease of RMB16 million or 4.97% from RMB322 million of the corresponding period of the preceding year.

Segment Results

The Group's segment profit from the corporate and other operating segments for the first half of 2013 was RMB426 million, representing an increase of RMB1,529 million from the loss of RMB1,103 million of the corresponding period of the preceding year, mainly attributable to the gain on acquisition of Ningxia Energy, gain from deemed disposal of Jiaozuo Wanfang and gain from the disposal of the equity interest and assets of aluminum fabrication segment.

STRUCTURE OF ASSETS AND LIABILITIES

Current Assets and Liabilities

As of June 30, 2013, the Group's current assets amounted to RMB63,287 million, representing an increase of RMB14,271 million from RMB49,016 million as of the beginning of the year, mainly attributable to the receivable from the disposal of the equity interest and assets of aluminum fabrication segment and the alumina production line of Guizhou Branch.

As of June 30, 2013, the Group's cash and cash equivalents and restricted cash and time deposits amounted to RMB10,951 million, representing an increase of RMB759 million from RMB10,192 million as of the beginning of the year.

As of June 30, 2013, the Group's net balance of inventories amounted to RMB25,235 million, representing a decrease of RMB361 million from RMB25,596 million as of the beginning of the year, primarily due to the acceleration in the turnover of inventories.

As of June 30, 2013, the Group's current liabilities amounted to RMB93,669 million, representing an increase of RMB9,816 million from RMB83,853 million as of the beginning of the year, primarily due to the increase in short-term borrowings and payables for replenishment of working capital resulting from the Group's efforts in optimization of its debt portfolio.

As of June 30, 2013, the current ratio of the Group was 0.68, representing an increase of 0.10 percentage point from 0.58 as of the beginning of the year, and the quick ratio was 0.41, representing an increase of 0.13 percentage point from 0.28 as of the beginning of the year.

Non-current Liabilities

As of June 30, 2013, the Group's non-current liabilities amounted to RMB54,496 million, representing an increase of RMB17,104 million from RMB37,392 million as of the beginning of the year, primarily due to the newly added non-current liabilities such as long-term loans from the newly acquired subsidiary of Ningxia Energy.

As of June 30, 2013, the debt to asset ratio of the Group was 73.17%, representing an increase of 3.89 percentage points from 69.28% as of the beginning of the year.

MEASUREMENT OF FAIR VALUE

The Group strictly established the procedures for recognition, measurement and disclosure of fair value in accordance with the requirements on fair value under the relevant accounting standards, and took responsibility for the truthfulness of the measurement and disclosure of fair value. As of June 30, 2013, except that its financial assets and liabilities at fair value through profit or loss (including derivative instruments) are accounted at fair value, others are stated at historical cost.

As of June 30, 2013, the foreign currency forward contracts held by the Group, which were accounted for as financial asset at fair value through profit or loss, decreased by RMB3 million as compared with the balance as of the beginning of the year, of which the change was recognized as loss in fair value changes. The amount of the commodity futures contracts decreased by RMB5 million as compared with the balance as of the beginning of the year, of which the change was recognized as loss in fair value changes. The amount of the Group's commodity futures contracts accounted for as financial liability at fair value through profit or loss were RMB1 million, representing a decrease of RMB12 million as compared with the balances as of the beginning of the year. The decrease was RMB4 million after excluding the decrease in aluminum fabrication segment of RMB8 million, and was recognized as gains in the fair value changes. The newly introduced option contracts of this period amounted to approximately RMB12 million.

PROVISION FOR INVENTORY IMPAIRMENT

On June 30, 2013, the Group assessed the net realizable value of its inventories. For the inventory relevant to aluminum products, the assessment was made with comprehensive consideration of the coordination scheme of the production and sales between alumina enterprises and aluminum enterprises within the Group, and the factors including the financial budget, turnover period of inventory, the purpose of the Company to hold the inventory and the influence of events subsequent to the balance sheet date, the assessment was made on the net realizable value of its inventories based on the estimated selling price of the finished goods available for sale. For the inventory held by the energy segment, after comprehensively considering the cooperative scheme on production and sale along the chain of the photovoltaic industry, the Group unanimously calculated with the market price for the most immediate period. The net realizable value of the inventory which was not sold after the period was evaluated at the market price of the finished goods less the cost and expenses required for the whole process of a product to be ready for sale.

The provisions for inventory impairment for inventories held as of June 30, 2013 amounted to RMB1,203 million, representing a decrease of RMB204 million as compared with the provisions for impairment of RMB1,407 million at the beginning of the year. The decrease was caused by increase in net provisions and reversal of RMB195 million, the addition of RMB180 million from the consolidation of Ningxia Energy, the written-off for the period of RMB450 million, and the decrease of RMB129 million from the disposal of Jiaozuo Wanfang and disposal of the aluminum fabrication segment.

The Company has always adopted the same approach to determine the net realizable value of the inventories and the provisions of inventories impairment on a consistent basis for the relevant accounting policy.

CAPITAL EXPENDITURES, CAPITAL COMMITMENTS AND INVESTMENT UNDERTAKINGS

For the six months ended June 30, 2013, the Group's accumulated project investment expenditures (exclude equity-interest investment) amounted to RMB4,544 million, which mainly consisted of investments in energy saving and consumption reduction, environmental protection, resources acquisition and technological research and development.

As of June 30, 2013, the Group's capital commitment of fixed asset investment amounted to RMB52,859 million, of which those contracted but not provided amounted to RMB6,976 million and those authorized but not contracted amounted to RMB45,883 million.

As of June 30, 2013, the Group's external investment undertakings amounted to RMB211 million, comprised mainly of the capital contributions of RMB131 million, RMB50 million and RMB30 million to Chalco Liupanshui Hengtaihe Mining Co., Ltd. (), Huozhou Coal Group Xingshengyuan Coal Co., Ltd. () and Baotou Aluminum Jinxi Logistics Co., Ltd. () , respectively.

CASH AND CASH EQUIVALENTS

As of June 30, 2013, the Group's cash and cash equivalents amounted to RMB10,408 million, including foreign currency deposits of RMB353.32 million, RMB10.08 million, RMB4.44 million, RMB3.23 million and RMB1.54 million denominated in US dollars, Hong Kong dollars, Euro, Australian dollars and Indonesian Rupiah, respectively.

CASH FLOWS FROM OPERATING ACTIVITIES

For the first half of 2013, the Group's cash inflows generated from operating activities amounted to RMB1,662 million, representing an increase of RMB3,477 million from the net outflows of RMB1,815 million for the corresponding period of the preceding year, mainly attributable to an increase in the profit margin of the Group's major products, as well as the reinforced management on current assets and current liabilities by means of lean management of the cash flows.

CASH FLOWS FROM INVESTING ACTIVITIES

For the first half of 2013, the Group's cash outflows generated from the investing activities amounted to RMB6,350 million, representing a decrease of RMB9,718 million from the net cash outflows of RMB16,068 million for the corresponding period of the preceding year, mainly attributable to the acquisition of the Simandou Project by the Group in the corresponding period of the preceding year and the significant decrease in investment in the current period.

CASH FLOWS FROM FINANCING ACTIVITIES

For the first half of 2013, the Group's cash inflows generated from financing activities amounted to RMB5,951 million, representing a decrease of RMB11,189 million from the net inflows of RMB17,140 million for the corresponding period of the preceding year, mainly attributable to the decrease of financing scale resulted from the improvement in the cash flows from operating activities of the Group as well as the significant decrease in investments.

INVESTMENT OF THE COMPANY

USE OF PROCEEDS

During the reporting period, no fund raising proceeds were utilized by the Group.

PROJECTS NOT FUNDED BY PROCEEDS

(1)

The alumina project in Xing County of Shanxi Huaxing Alumina Co., Ltd.* (): The proposed investment in project construction is RMB4,621 million. As of June 30, 2013, RMB3,286 million of capital expenditure had been incurred. The project is expected to commence production in October 2013, with an alumina plant of the production capacity of 800,000 tonnes per year and a bauxite mine of the production capacity of 990,000 tonnes per year.

(2)

The captive power plant Project in Baotao Aluminum (): The proposed investment in project construction amounted to RMB2,715 million. As of June 30, 2013, RMB890 million of capital expenditure had been incurred. The project is expected to be completed in August 2014, with an electricity production capacity for electrolytic aluminum production of 3.928 billion kWh per year.

DIRECTORS, SUPERVISORS AND SENIOR MANAGEMENT

In accordance with Articles 104 and 145 of the Company's Articles of Association, all Directors and Supervisors of the Company were appointed for a term of three years, eligible for re-appointments after expiry of their respective terms of office. The Directors of the fifth session of the Board and the shareholder representative supervisors of the fifth session of the Supervisory Committee were elected at the 2012 annual general meeting held on June 27, 2013 and the 2013 first extraordinary general meeting held on 30 August 2013. The employee representative supervisor of the fifth session of the Supervisory Committee of the Company was elected by the employee representatives of the Company and its subsidiaries and branches.

Members of the fifth session of the Board and the fifth session of the Supervisory Committee are as below:

Executive Directors

:

Xiong Weiping, Luo Jianchuan,

Liu Xiangmin and Jiang Yinggang

Non-executive Directors

:

Liu Caiming and Wang Jun

Independent Non-executive Directors

:

Wu Jianchang, MA Si-hang, Frederick and Wu Zhenfang

Supervisors

:

Zhao Zhao, Yuan Li and Zhang Zhankui

During the reporting period, there was no change in the respective shareholdings of the Directors, Supervisors, and senior management of the Company.

EMPLOYEES, PENSION PLANS AND WELFARE FUND

As of June 30, 2013, the Group had 103,493 employees. For the first half of 2013, the Group had paid the total remuneration of approximately RMB3,637 million to its employees. In particular, as Ningxia Energy was consolidated into the financial statements of the Company in 2013, there are an additional 7,787 employees and an additional remuneration of RMB319 million. The remuneration package of the employees includes salaries, bonuses, subsidies, allowances and welfare benefits including medical care, housing subsidies, childbirth, unemployment, work injury, pension, labor union fees, employees' education fees and other miscellaneous items.

In accordance with the applicable regulations of the PRC, the Group has participated in pension contribution plans organized by the provincial and municipal governments, under which each of the Group's plants is required to contribute an amount equivalent to a specified percentage of the sum of its employees' salaries, bonuses and various allowances to the pension fund. The amount of contribution of each plant was around 20% of the employees' salary.

PARTICULARS OF SHARE CAPITAL STRUCTURE, CHANGES AND SHAREHOLDERS

SHARE CAPITAL STRUCTURE

As of June 30, 2013, the share capital structure of the Company was as follows:

As of June 30, 2013

Percentage to

Number of

issued share

shares held

capital

(in million)

(%)

Holders of A shares

9,580.52

70.84

Among which:

Aluminum Corporation

   of China ("Chinalco")

5,214.41

38.56

Baotou Aluminum (Group) Co., Ltd. (Note 1)

321.14

2.37

Lanzhou Aluminum Factory (Note 1)

79.47

0.59

Shanxi Aluminum Plant (Note 1)

7.14

0.05

Guiyang Aluminum Magnesium

4.12

0.03

   Design and Research Institute (Note 1)

Holders of H shares

3,943.97

29.16

Total

13,524.49

100

Note 1:

These are subsidiaries of and/or enterprises controlled by Chinalco.

SUBSTANTIAL SHAREHOLDERS WITH SHAREHOLDING OF 5% OR MORE

So far as the Directors are aware, as of June 30, 2013, the following persons (other than the Directors, Supervisors and Chief Executive of the Company) had interests or short positions in the shares or underlying shares of the Company which would fall to be disclosed under the provisions of Divisions 2 and 3 of Part XV of the Securities and Futures Ordinance ("Hong Kong SFO") or which were recorded in the register required to be kept by the Company pursuant to Section 336 of the Hong Kong SFO, or as otherwise notified to the Company and The Stock Exchange of Hong Kong Limited ("Hong Kong Stock Exchange").

Percentage in

the relevant class

Percentage in

Name of substantial

Class of

Number of

of issued share

total issued

shareholder

shares

shares held

Capacity

capital

share capital

Chinalco

A Shares

5,626,277,799(L)

Beneficial owner

58.73%(L)

41.60%(L)

(Note 1)

   and interests of

   controlled corporations

China Cinda Asset

A Shares

800,759,074(L)

Beneficial owner

8.36%(L)

5.92%(L)

   Management Co., Ltd.

China Construction Bank

A Shares

609,146,645(L)

Beneficial owner

6.36%(L)

4.50%(L)

   Corporation Limited

Templeton Asset

H Shares

1,059,274,800(L)

Investment manager

26.86%(L)

7.83%(L)

   Management Ltd.

(L)

The letter "L" denotes a long position.

Notes:

1.

These interests included the interest of 5,214,407,195 A shares directly held by Chinalco, and an aggregate interest in 411,870,604 A shares held by various entities controlled by Chinalco, comprising 321,138,295 A shares held by Baotou Aluminum (Group) Co., Ltd., 79,472,482 A shares held by Lanzhou Aluminum Factory, 4,119,573 A shares held by Guiyang Aluminum Magnesium Design and Research Institute and 7,140,254 A shares held by Shanxi Aluminum Plant.

Save as disclosed above and so far as the Directors are aware, as of June 30, 2013, no other person had an interest or short position in the shares or underlying shares of the Company (as the case may be) which would fall to be disclosed to the Company and the Hong Kong Stock Exchange under the provisions of Divisions 2 and 3 of Part XV of the Hong Kong SFO and as recorded in the register required to be kept under section 336 of the Hong Kong SFO, or was otherwise a substantial shareholder of the Company.

CHANGES IN SHARE CAPITAL

During the reporting period, there were no changes in the share capital of the Company.

APPROVAL OF CHANGES IN SHARE CAPITAL

Not applicable.

TOTAL NUMBER OF SHAREHOLDERS AT THE END OF THE REPORTING PERIOD

As of June 30, 2013, the Company had 517,198 shareholders (including 516,281 holders of A shares and 917 holders (registered shareholders) of H shares).

SHAREHOLDINGS OF THE TOP TEN SHAREHOLDERS

Unit: share

Percentage of

Total

Increase/decrease

total issued

number of

of shares during the

Name of shareholder

Nature of shareholder

shares

shares held

reporting period

Note

(%)

Chinalco #

State

38.56

5,214,407,195 #

HKSCC Nominees Limited

Overseas legal person

29.02

3,924,957,344

Increased by 677,402

China Cinda Asset Management Co., Ltd.

State-owned legal person

5.92

800,759,074

China Construction Bank Corporation Limited

State-owned legal person

4.50

609,146,645

Guokai Financial Limited Company

State-owned legal person

3.07

415,168,145

Baotou Aluminum (Group) Co., Ltd.

State-owned legal person

2.37

321,138,295

Decreased by 10,079,500

Lanzhou Aluminum Factory

State-owned legal person

0.59

79,472,482

Guizhou Provincial Materials Development

State-owned legal person

0.34

45,800,000

Decreased by 13,200,000

29,000,000

   and Investment Corporation

(pledged)

Guangxi Investment Group Co., Ltd.

State-owned legal person

0.29

39,259,793

Bank of China Limited-Jianshi Hushen 300

Domestic non-state-owned

0.13

17,448,823

Decreased by 5,330,721

   Trading Open-end Index

   legal person

   Securities Investment Fund

#

This figure does not include the A shares indirectly held by Chinalco through its subsidiaries and/or controlled entities.

INTERESTS IN SHARES HELD BY DIRECTORS, CHIEF EXECUTIVE AND SUPERVISORS

As of June 30, 2013, none of the Directors, Chief Executive, or Supervisors and their respective associates had any interests or short positions in the shares, underlying shares or debentures of the Company or any of its associated corporations (within the meaning of the Hong Kong SFO) which are (a) required to be notified to the Company and the Hong Kong Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the Hong Kong SFO; or (b) required to be recorded in the register kept by the Company pursuant to Section 352 of the Hong Kong SFO; or (c) required to be notified to the Company and the Hong Kong Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Companies. For the six months ended June 30, 2013, none of the Directors, Supervisors, senior management or their spouses or children under the age of 18 was granted the right to acquire any shares or debentures of the Company or any of its associated corporations (within the meaning of the Hong Kong SFO).

REPURCHASE, SALE AND REDEMPTION OF THE COMPANY'S SHARES

During the reporting period, neither the Company nor its subsidiaries purchased or sold any of their shares during the six months ended June 30, 2013.

CHARGE AND PLEDGES ON GROUP ASSETS

As of June 30, 2013, the Group charged and pledged assets with a total amount of RMB9,918 million, including property, plant and equipment, land use rights, intangible assets, inventories and investments in an associate for bank loans. Details refer to Note 11(f) to the financial statements.

EXTERNAL GUARANTEES PROVIDED BY THE COMPANY

As of June 30, 2013, the Company provided external guarantees with a total balance of RMB5.929 billion. Details are as follows:

On January 20, 2012, Ningxia Energy and Ningxia branch of China Development Bank entered into the Contract of Pledge for Accounts Receivables of RMB Loan, and offered a pledge guarantee in respect of the loan of RMB30 million for Ningxia Power Investment Corporation. The guarantee would expire upon expiry of the debt performance period under the principal contract. As at the reporting date, the balance of the several liability guarantee provided by Ningxia Energy to Ningxia Power Investment Corporation was RMB30 million.

In November 2011, the Company entered into the guarantee agreement with Natixis, being the agent for a consortium of lender. The guarantee would expire upon expiry of the debt performance period under the principal contract. As at the reporting date, the Company provided a several liability guarantee in respect of the loan of the USD300 million for Chalco Trading Hong Kong Co., Limited, a wholly-owned subsidiary of the Company.

In March 2012, the Company entered into the US dollars facility guarantee contract with China Development Bank, pursuant to which the Company will provide several liability guarantee in respect of a loan of up to USD702 million in total of Chalco Hong Kong Limited, a wholly-owned subsidiary of the Company. The guarantee period is two years from the date of expiry of the term for performance of loan under the principal contract. As at the reporting date, Chalco Hong Kong Limited drew down a loan of USD438.75 million, and the balance of the several liability guarantee provided by the Company to Chalco Hong Kong Limited was USD438.75 million.

In March 2013, the Company entered into the guarantee contract with China Development Bank, pursuant to which the Company will provide guarantee in respect of a loan of up to RMB1,020 million in total in proportion to its 34% shareholding for Shanxi Jiexiu Xinyugou Coal Co., Ltd. (), a joint venture of the Company. The guarantee period is two years from the date of expiry of the term for performance of loan under the principal contract. As at the reporting date, Shanxi Jiexiu Xinyugou Coal Co., Ltd. drew down a loan of RMB920 million, and the balance of the guarantee provided by the Company to Shanxi Jiexiu Xinyugou Coal Co., Ltd. was RMB312.8 million.

As at the reporting date, the guarantee provided by Ningxia Energy to its subsidiaries amounted to a total of RMB886.8 million and the guarantee provided by Ning Xia Yin Xing Energy Co., Ltd. to its subsidiaries amounted to a total of RMB170 million.

Save as aforesaid, there were no other external guarantees provided by the Company which were required to be disclosed.

CORPORATE GOVERNANCE

The Articles of Association, the Terms of Reference of the Audit Committee, the Terms of Reference of the Supervisory Committee and the Code of Conduct Regarding Securities Transactions by the Directors, Supervisors and Relevant Employees form the framework for the code of corporate governance practices of the Company. The Board has reviewed its corporate governance documents and internal control guidelines, and is of the view that such documents have incorporated most of the principles and code provisions in the "Code on Corporate Governance Practices" (the "CG Code") as set out in Appendix 14 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Hong Kong Listing Rules") and the requirements under the Internal Control Guidelines stipulated by the Shanghai Stock Exchange.

During the reporting period, saved as disclosed below, the Board is of the opinion that the Company has complied with the code provisions of the CG Code and the requirements under the Internal Control Guidelines stipulated by the Shanghai Stock Exchange.

Rule A.2.1 of the CG Code provides that, inter alia, the roles of chairman and chief executive should be separated and should not be performed by the same individual. The chairman and chief executive of the Company were served by one person. On May 9, 2013, the Board considered and approved the resolution in respect of the cancellation of the position of chief executive officer for the Company's operational and management needs with effect from the conclusion of the Board meeting. As a result, the Company has since complied with the requirements of Rule A.2.1 of the CG Code.

Pursuant to Rule 3.10(1) of the Hong Kong Listing Rules, every board of directors of a listed issuer must include at least three independent non-executive directors. Pursuant to the Articles of Association and the Terms of Reference of the Audit Committee, the audit committee must comprise a minimum of three independent non-executive directors. Before the proposal of electing members of the fifth session of the Board at the 2012 annual general meeting of the Company, the Company had not selected a candidate for independent non-executive director. Therefore, since June 27, 2013, the number of independent non-executive directors and members of the audit committee of the Company had been lower than the minimum number as required in Rule 3.10(1) and Rule 3.21 of the Hong Kong Listing Rules. On August 30, 2013, the Company appointed Mr. Wu Zhenfang as an independent non-executive director and a member of the audit committee of the Company. As such, the Company had been in compliance with Rule 3.10(1) and Rule 3.21 of the Hong Kong Listing Rules.

CODE OF CONDUCT FOR SECURITIES TRANSACTIONS BY THE DIRECTORS, SUPERVISORS AND RELEVANT EMPLOYEES

For clarity, the Company has adopted a Code of Conduct Regarding Securities Transactions by the Directors, Supervisors and Relevant Employees (the "Required Standards") on terms no less exacting than the required standard of dealings set out in the "Model Code for Securities Transactions by Directors of Listed Companies" in Appendix 10 to the Hong Kong Listing Rules. Some employees who are likely to be in possession of unpublished price sensitive information of the Group shall be in compliance with the Required Standards. All Directors, Supervisors and Relevant Employees, upon specific enquiries, have confirmed that they have complied with the Required Standards during the six months ended June 30, 2013.

AUDIT COMMITTEE

The Company has established an audit committee with written terms of reference based on the guidelines recommended by the Hong Kong Institute of Certified Public Accountants. The primary duties of the audit committee are to review the financial report of the Company, review the appointment of independent auditors, approve the auditing and provide audit-related services as well as monitor the internal financial reporting process and management policies of the Company.

As of the reporting date, the Audit Committee of the fifth session of the Board of the Company consists of three independent non-executive Directors, namely Mr. Wu Jianchang, Mr. Ma Si-hang, Frederick and Mr. Wu Zhenfang. Mr. Ma Si-hang, Frederick is the Chairman of the Committee.

The Audit Committee and the management have reviewed the accounting policies and practices adopted by the Group and discussed auditing, internal control and financial statements matters, including the review of the unaudited interim condensed consolidated financial information for the six months ended June 30, 2013.

In the first half of 2013, the Audit Committee convened four meetings in total, including the seventeenth meeting of the Audit Committee of the fourth session of the Board held on March 20, 2013, at which thirteen proposals including the 2012 Financial Report were considered; the eighteenth meeting of the Audit Committee of the fourth session of the Board held on April 25, 2013, at which two proposals including the 2013 First Quarterly Financial Report of the Company were considered; the nineteenth meeting of the Audit Committee of the fourth session of the Board held on May 8, 2013, at which three proposals including proposed transfer of the equity interests held by the Company in relevant enterprises engaged in aluminum fabrication business were considered; and the twentieth meeting of the Audit Committee of the fourth session of the Board held on May 13, 2013, at which the proposal on disposal of its loans owed by Chalco Henan Aluminum Co., Ltd. () and Chalco Qingdao Light Metal Company Limited () was considered.

SIGNIFICANT EVENTS

1.

CORPORATE GOVERNANCE

The Company has strictly complied with the requirements of the Company Law of the People's Republic of China (the "Company Law"), the Securities Law of the People's Republic of China (the "Securities Law"), the relevant provisions of China Securities Regulatory Commission and Shanghai Stock Exchange Listing Rules (the "Shanghai Stock Exchange Listing Rules") and duly performed its corporate governance obligations in line without being deviated from the relevant requirements issued by China Securities Regulatory Commission. The Company has also strictly complied with the Hong Kong Listing Rules and its latest amendments' requirements in relation to corporate governance. The Company has established a corporate governance structure with clearly defined rights and responsibilities with effective check, balance and coordination. General meetings, board of directors and the supervisory committee safeguarded the interests of investors and shareholders by fulfilling their own responsibilities and operated in compliance with regulations. During the reporting period, the Company elected the new session of the Board and the supervisory committee in compliance with the relevant laws and regulations.

The Company will continue to be in strict compliance with the requirements of the regulatory bodies including China Securities Regulatory Commission, Beijing Securities Regulatory Bureau, Shanghai Stock Exchange, Hong Kong Stock Exchange and New York Stock Exchange. Through regulatory compliance and strict self-regulation, the Company will continuously improve its various corporate governance systems to further enhance its corporate governance and internal control system, aiming at protecting the interest of shareholders of the Company, and the Company will maintain consistent, stable and healthy development to bring returns to the society and shareholders through satisfactory performance results. The Company will also continue to comply with the requirements on corporate governance under the Hong Kong Listing Rules.

Since its incorporation, the Company has been completely separated from its controlling shareholder in terms of business, employees, assets and finance. The Company has independent and comprehensive business and has the ability to operate on its own.

2.

ASSETS TRANSACTIONS

Reference is made to the announcements of the Company dated August 13, 2012 and December 31, 2012 in relation to the acquisition of equity interests in Ningxia Energy.

On January 23, 2013, the Company obtained 70.82% of the total equity of Ningxia Energy through step acquisitions, thus Ningxia Energy became a non-wholly-owned subsidiary of the Company and has been consolidated into the consolidated financial statements of the Company since January 23, 2013.

Except for several disposals of assets and equities that involved connected transactions (please refer to the announcements dated June 6, 2013 and June 11, 2013 and the circular dated June 7, 2013), there were no significant assets transactions of the Company required to be disclosed during the reporting period.

3.

DISTRIBUTION OF FINAL DIVIDEND FOR THE YEAR 2012

The non-distribution of the 2012 final dividends of the Company was considered and approved at the 2012 annual general meeting on June 27, 2013.

4.

MATERIAL LITIGATION AND ARBITRATION

There was no material litigation and arbitration during the reporting period.

5.

MATERIAL CONNECTED TRANSACTIONS OF THE GROUP DURING THE REPORTING PERIOD

Connected transactions related to daily operations

During the reporting period, the total amount of major and continuing connected transactions between the Group and connected persons was approximately RMB7.0 billion, of which purchase transactions amounted to RMB4.1 billion and sales transactions amounted to RMB2.9 billion (including provision of products and services).

All of the above connected transactions during the reporting period have been conducted under the relevant agreements which have been published by way of announcement. The continuing connected transactions of the Group were mainly transactions between the Group and Chinalco.

Connected transactions related to acquisition and disposal of assets

Disposal of assets of the alumina production line of Guizhou branch of the Company

On June 6, 2013, the Company and Guizhou Aluminum Plant, the subsidiary of Chinalco, entered into the transfer agreement on the alumina assets (including the liabilities) of Guizhou branch. The Company would transfer the alumina assets of Guizhou branch to Guizhou Aluminum Plant of Chinalco with reference to the appraised value and the consideration shall be paid in five instalments, and the gains and losses relating to the abovementioned assets for the first half of 2013 would be undertaken by the Company. For details on the assets transfer, please refer to the announcement dated June 6, 2013 and the circular dated June 7, 2013.

Disposal of assets of Northwest Aluminum Fabrication branch

On June 6, 2013, the Company and Northwest Aluminum Fabrication Plant, the subsidiary of Chinalco, entered into an assets transfer agreement on the assets (including the liabilities) of the Northwest Aluminum Fabrication branch. The Company would transfer the assets of Northwest Aluminum Fabrication branch to Northwest Aluminum Fabrication Plant of Chinalco with reference to the appraised value and the consideration shall be paid in five instalments, and the gains and losses relating to the abovementioned assets for the first half of 2013 would be undertaken by the Company. For details on the assets transfer, please refer to the announcement dated June 6, 2013 and the circular dated June 7, 2013.

Overall disposal of equity in aluminum fabrication entities

On May 13, 2013, the Company intended to dispose its aluminum fabrication equities in eight aluminum fabrication entities (the eight entities included Chalco Henan, Chalco Qingdao, Chalco Ruimin, Chalco Southwest Aluminum, Chalco Southwest Cold Rolling, Huaxi Aluminum, Chalco Sapa and Guizhou Chalco) by way of open tender at Beijing Equity Exchange. On June 7, 2013, Chinalco won the bid for the equities of the target enterprises at the tender price. On June 9, 2013, the two parties entered into relevant equity transfer agreement and the supplementary equity exchange agreement, and their major terms are set out as follows: the transfer price is the listing price, and the gains and losses relating to the abovementioned assets for the first half of 2013 would be undertaken by the Company, and Chinalco would pay the transfer price of equities to the Company in cash by two instalments. As an additional condition for the overall transfer of the target of transfer, as at December 31, 2012, the Company's entrusted loans to Chalco Henan Aluminum Co., Ltd. and Chalco Qingdao Light Metal Company Limited should be transferred to Chinalco with a nominal principal amount up to RMB3 billion, and the consideration shall be determined with reference to appraisal value of such loans. For details for the transfer of equity interests, please refer to the announcement dated June 9, 2013 and the circular dated June 7, 2013.

Transfer of loans

On May 13, 2013, the Company intended to dispose its equity interests in eight aluminum fabrication entities by way of open tender at Beijing China Equity Exchange. The transfer of the Company's loans to Chalco Henan and Chalco Qingdao was one of the additional conditions. On June 9, 2013, the Company and Chinalco entered into a loan transfer agreement and transferred the abovementioned loan at appraised value, pursuant to which Chinalco shall pay such payment to the Company in cash in five equal instalments. For details of the transfer of loans, please refer to the announcement dated June 9, 2013 and the circular dated June 7, 2013.

6.

PERFORMANCE OF UNDERTAKINGS

The following undertakings by Chinalco were made during or subsisting in the reporting period:

During the initial issuance of A Shares of the Company, Chinalco provided undertakings principally in relation to non-competition, including:

Chinalco will arrange to dispose of its aluminum fabrication business, or the Company will acquire the aluminum fabrication business from Chinalco, and acquire the pseudo-boehmite business from Chinalco within a certain period of time following the listing of the Company's A shares.

Besides, the Company provided additional undertakings:

On August 22, 2011, the Company issued a letter of undertaking of Aluminum Corporation of China Limited* to resolve the horizontal competition with Jiaozuo Wanfang Aluminum Company Limited (hereafter, "Jiaozuo Wanfang") in the aluminum business (), pursuant to which it undertook to make its best endeavors to eliminate by proper means the competition in aluminum business with Jiaozuo Wanfang within five years.

There is no competition in aluminum fabrication business between the Company and Chinalco.

Up till now, both Shanxi Aluminum Factory, a wholly-owned subsidiary of Chinalco, and the Shandong branch of the Company had minor activities in the pseudo-boehmite market. However, as the pseudo-boehmite business is not among the principal activities of the Company, the revenue from sales of that segment made up a relatively low portion of the Company's revenue and as the sales locations of pseudo-boehmite of Shandong branch and Shanxi Aluminum Factory are different, the competition between Chinalco and the Company in respect of pseudo-boehmite business is limited.

Since the market conditions for pseudo-boehmite are immature, Chinalco does not propose to inject its pseudo-boehmite business to the Company's portfolio for the time being.

In April 2013, Jiaozuo Wanfang issued 169,266,914 A shares through non-public offering to five companies including Manulife Teda Fund Management Co., Ltd. () and Yinhua Fund Management Co., Ltd. (). After the completion of the non-public offering of A shares, the Company's shareholding in Jiaozuo Wanfang fell from 24.002% to 17.75%. On July 24, 2013, Jiaozuo Wanfang held the third extraordinary meeting for 2013 to consider and approve the proposed amendments to the articles of association and the proposed election of additional two independent directors. Jiaozuo Wanfang became a public company without controlling shareholders and actual controller. There was no competition within the same business between the Company and Jiaozuo Wanfang any longer.

When conditions become mature, both Chinalco and the Company will continue to duly implement the matters undertaken within the time limit.

7.

OTHER SIGNIFICANT EVENTS

Non-public Offering of A shares

On August 24, 2012, the twenty-ninth meeting of the fourth session of the Board of the Company resolved to propose to issue not more than 1.45 billion A shares in the PRC to qualified legal persons, natural persons, or other legally qualified investors. On October 12, 2012, SASAC approved such resolution. At the 2nd Extraordinary General Meeting for 2012, the second Meeting for Holders of A Shares for 2012 and the second Meeting for Holders of H Shares for 2012 held on October 12, 2012, the shareholders also considered and approved the non-public issue plan and related matters. On December 7, 2012, Issuance Examination Committee of the China Securities Regulatory Commission (CSRC) approved the application to issue A shares through non-public offering, and the application of issuing A shares through non-public offering was approved unconditionally. On March 14, 2013, the Company received the approval from CSRC to issue new shares of no more than 1.45 billion through non-public offering, effective within the six months from the date of the approval. As at the date of the publication of this report, no such issuance had occurred.

For details of the matter, please refer to the announcements of the Company dated October 12, 2012 and March 14, 2013.

Change in the shareholding of Jiaozuo Wanfang

As of December 31, 2012, the registered capital of Jiaozuo Wanfang, the non-wholly-owned subsidiary of the Company was RMB480,176,100. The Company held 24.002% of its shares as the largest shareholder. In April 2013, Jiaozuo Wanfang issued 169,266,914 A shares through non-public offering to five companies including Manulife Teda Fund Management Co., Ltd. () and Yinhua Fund Management Co., Ltd. (). After the completion of non-public offering of A shares, the registered capital of Jiaozuo Wanfang increased to RMB649,443,014, and the Company's shareholding in Jiaozuo Wanfang fell from 24.002% to 17.75%. Since April 19, 2013, Jiaozuo Wanfang had been excluded from the consolidated financial statements of the Group.

INDEPENDENT REVIEW REPORT

To the shareholders of Aluminum Corporation of China Limited

(Established in the People's Republic of China with limited liability)

Introduction

We have reviewed the interim financial information set out on page 44 to 136, which comprise the condensed consolidated statement of financial position of Aluminum Corporation of China Limited (the "Company") and its subsidiaries (together the "Group") as at June 30, 2013 and the related condensed consolidated statements of comprehensive income, changes in equity and cash flows for the six-month then ended, and a summary of significant accounting policies and other explanatory notes. The Main Board Listing Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of a report on interim financial information to be in compliance with the relevant provisions thereof and International Accounting Standard 34 Interim Financial Reporting ("IAS 34"). The directors of the Company are responsible for the preparation and presentation of this interim financial information in accordance with IAS 34. Our responsibility is to express a conclusion on this interim financial information based on our review. Our report is made solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

Scope of review

We conducted our review in accordance with International Standard on Review Engagements 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express such opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the interim financial information is not prepared, in all material respects, in accordance with IAS 34.

Ernst & Young

Certified Public Accountants

22/F, CITIC Tower,

1 Tim Mei Avenue, Central

Hong Kong

August 30, 2013

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at June 30, 2013

(Amounts expressed in thousands of RMB unless otherwise stated)

June 30,

December 31,

Notes

2013

2012

(Audited)

ASSETS

Non-current assets

   Intangible assets

7

10,680,291

4,260,018

   Property, plant and equipment

7

99,975,769

96,248,091

   Land use rights and leasehold land

2,849,092

2,594,208

   Investments in joint ventures

8

2,135,816

1,936,950

   Investments in associates

8

15,748,775

17,211,965

   Available-for-sale financial investments

92,652

64,500

   Deferred tax assets

2,049,018

2,116,986

   Other non-current assets

5,669,569

1,568,148

Total non-current assets

139,200,982

126,000,866

Current assets

   Inventories

25,235,475

25,596,476

   Trade and notes receivables

9

6,907,215

2,615,862

   Other current assets

20,193,371

9,851,418

   Financial assets at fair value through profit or loss

343

8,983

   Restricted cash and time deposits

542,978

1,128,015

   Cash and cash equivalents

10,407,732

9,063,593

63,287,114

48,264,347

   Assets of a disposal group classified as held for sale

10

-

751,669

Total current assets

63,287,114

49,016,016

Total assets

202,488,096

175,016,882

EQUITY AND LIABILITIES

Equity

Equity attributable to the owners of the parent

   Share capital

13,524,488

13,524,488

   Other reserves

19,631,360

19,930,226

   Retained earnings

      - proposed final dividend

-

-

      - others

9,756,604

10,353,049

42,912,452

43,807,763

Non-controlling interests

11,411,415

9,963,387

Total equity

54,323,867

53,771,150

Liabilities

Non-current liabilities

   Interest-bearing loans and borrowings

11

50,937,727

36,635,652

   Deferred tax liabilities

1,115,215

-

   Other non-current liabilities

2,442,579

756,669

Total non-current liabilities

54,495,521

37,392,321

Current liabilities

   Financial liabilities at fair value through profit or loss

12,493

12,662

   Interest-bearing loans and borrowings

11

70,887,958

67,915,181

   Other payables and accrued expenses

9,048,222

8,805,315

   Trade and notes payables

12

13,635,588

7,059,194

   Income tax payable

84,447

61,059

Total current liabilities

93,668,708

83,853,411

Total liabilities

148,164,229

121,245,732

Total equity and liabilities

202,488,096

175,016,882

Net current liabilities

(30,381,594)

(34,837,395)

Total assets less current liabilities

108,819,388

91,163,471

The accompanying notes are an integral part of the financial statements.

Xiong Weiping

Xie Weizhi

Director

Chief Financial Officer

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

For the six months ended June 30, 2013

(Amounts expressed in thousands of RMB unless otherwise stated)

For the six months

ended June 30

Notes

2013

2012

(Restated)

Continuing operations

Revenue

5

71,113,213

66,769,396

Cost of sales

(69,768,380)

(66,435,876)

Gross profit

1,344,833

333,520

Selling and distribution expenses

13

(847,465)

(899,082)

General and administrative expenses

14

(1,257,276)

(1,213,101)

Research and development expenses

(82,279)

(68,200)

Other income

15

527,771

267,956

Other gains/(losses), net

15

1,740,794

(178,236)

Operating profit/(loss) from

   continuing operations

1,426,378

(1,757,143)

Finance income

16

160,532

111,729

Finance costs

16

(2,766,326)

(2,151,710)

Share of profits of:

   Joint ventures

8

44,814

12,500

   Associates

8

247,481

143,702

Loss before income tax

   from continuing operations

(887,121)

(3,640,922)

Income tax benefit from continuing operations

17

33,650

724,717

Loss for the period from continuing operations

(853,471)

(2,916,205)

Discontinued operation

Profit/(loss) for the period

   from discontinued operation

6

207,144

(508,563)

Loss for the period

(646,327)

(3,424,768)

Loss attributable to:

   Owners of the parent

(596,445)

(3,253,255)

   Non-controlling interests

(49,882)

(171,513)

(646,327)

(3,424,768)

(Loss)/profit attributable to owners of

   the parent arising from:

   Continuing operations

(832,358)

(2,790,005)

   Discontinued operation

235,913

(463,250)

(596,445)

(3,253,255)

Other comprehensive loss, net of tax:

Other comprehensive loss to be reclassified to

   profit or loss in subsequent periods:

   Exchange differences on translation of

      foreign operations

(172,212)

(6,306)

Net other comprehensive loss to be reclassified

   to profit or loss in subsequent periods

(172,212)

(6,306)

Total other comprehensive loss

   for the period, net of tax

(172,212)

(6,306)

Total comprehensive loss for the period

(818,539)

(3,431,074)

Total comprehensive loss for

   the period attributable to:

   Owners of the parent

(742,560)

(3,259,561)

   Non-controlling interests

(75,979)

(171,513)

(818,539)

(3,431,074)

Basic and diluted (loss)/earning per share

   attributable to ordinary equity holders of the

   parent (expressed in RMB per share)

   From continuing operations

18

(0.06)

(0.21)

   From discontinued operation

6,18

0.02

(0.03)

(0.04)

(0.24)

Details of the dividends payable and proposed for the six months ended June 30, 2013 are disclosed in note 19 to the financial statements.

The accompanying notes are an integral part of the financial statements.

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the six months ended June 30, 2013

(Amounts expressed in thousands of RMB unless otherwise stated)

Attributable to owners of the parent

Capital reserves

Other

Statutory

Exchange

Non-

Share

Share

capital

surplus

Special

fluctuation

Retained

controlling

Total

capital

premium

reserves

reserve

reserve

reserve

earnings

Total

interests

equity

At January 1, 2013

13,524,488

13,097,117

890,741

5,867,557

92,193

(17,382)

10,353,049

43,807,763

9,963,387

53,771,150

Loss for the period

-

-

-

-

-

-

(596,445)

(596,445)

(49,882)

(646,327)

Other comprehensive loss

   for the period

   Exchange differences on

      translation of foreign operations

-

-

-

-

-

(146,115)

-

(146,115)

(26,097)

(172,212)

Total comprehensive loss

-

-

-

-

-

(146,115)

(596,445)

(742,560)

(75,979)

(818,539)

   Release of deferred

      government subsidies

-

-

6,700

-

-

-

-

6,700

-

6,700

   Acquisition of

      subsidiaries (note 22)

-

-

-

-

-

-

-

-

3,710,790

3,710,790

   Discontinued operation (note 6)

-

-

-

-

-

-

-

-

(324,539)

(324,539)

   Disposal of a subsidiary

      (note 23(a))

-

-

(257,529)

-

-

-

-

(257,529)

(1,931,114)

(2,188,643)

   Capital injection from

      non-controlling shareholders

-

-

-

-

-

-

-

-

42,808

42,808

   Other appropriations

-

-

-

-

92,383

-

-

92,383

16,978

109,361

   Share of reserves of associates

      (note 8)

-

-

-

-

5,695

-

-

5,695

9,084

14,779

At June 30, 2013

13,524,488

13,097,117

639,912

5,867,557

190,271

(163,497)

9,756,604

42,912,452

11,411,415

54,323,867

Attributable to owners of the parent

Capital reserves

Other

Statutory

Exchange

Non-

Share

Share

capital

surplus

Special

fluctuation