Aluminum Corp of China Ltd (601600) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Aluminum Corp of China Ltd stock ¥4.16, price ¥8.78, that is 52.6% below the price, quality 65 out of 100. Rating: strongly overvalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Aluminum Corp of China Ltd
601600 · SHGOur calculation puts a fair price 53% below what the stock costs today.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range ¥3.84 – ¥15.70 · fair‑value band ¥2.89 – ¥5.51 · the ¥8.78 price screens above the ¥4.16 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.
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Company profile
Aluminum Corporation of China Limited, together with its subsidiaries, primarily engages in the exploration and mining of bauxite, coal, and other resources in the People's Republic of China and internationally.
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It operates through five segments: Alumina, Primary Aluminum, Energy, Marketing, and Corporate and Other Operating.
The Alumina segment mines for and purchases bauxite and other raw materials; refines bauxite into alumina; and sells alumina, as well as produces and sells refined alumina, gallium, and multi-form alumina bauxite.
Its Primary Aluminum segment procures alumina and other raw materials, auxiliary materials, and electricity power; and produces and sells carbon, aluminum alloy, and other electrolytic aluminum products.
The Energy segment mines for coal deposits; generates and sells electricity using thermal, wind, and solar power sources to regional power grid corporations; and manufactures power related equipment.
Its Marketing segment trades in alumina, primary aluminum, aluminum fabrication products, other non-ferrous metal products, coal products, and raw and supplemental materials; and provides logistics and transport services.
The Corporate and Other Operating segment provides research and development services; and engages in other aluminum-related business activities.
The company is involved in the acquisition, manufacturing, and distribution of bauxite mines and limestone ore; engineering project; thermoelectric supply and investment management; and import and export activities, as well as manufacturing and distribution of anode and cathode carbon products.
Aluminum Corporation of China Limited was incorporated in 2001 and is headquartered in Beijing, the People's Republic of China.
Stock analysis
Aluminum Corp of China Ltd (601600) currently trades at ¥8.78, while our model-based Fair Value estimate is ¥4.16, 53% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ¥12.42 per share, and 17 of the 26 models we run sit above the ¥8.78 price.
Bear case: the Dividend Discount group reads lowest at ¥1.82, and 9 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ¥2.89 (bear) to ¥5.51 (bull), the price of ¥8.78 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 65/100 (solid quality), in the Basic Materials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Aluminum Corp of China Ltd reported revenue of 240B CNY in FY2025 versus 299B CNY in FY2021, a compound −5.3%/yr. Reported net income was 12.7B CNY in FY2025, compounding +21.8%/yr from FY2021.
Key figures
Market cap 150B CNY (≈ $22.6B) Large · P/E ratio 8.7 · P/S ratio 0.60 · EPS (TTM) ¥1.02 · Dividend yield 4.8% · Net margin 7.0% · Return on equity 24.5% · Return on assets (EBIT) 8.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 62 out of 100 (low confidence).
What moves the price
The share trades about 44% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 9% fair-value upside, at −53%, 601600 screens richer than that median.
Fair Value models
All 26 models by family
The fair value above starts from this blend and is adjusted for a cyclical peak year.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
Earlier news
- Aluminum Corporation Of China (SEHK:2600) Stock Still Looks Undervalued On Earnings
- Aluminum Corp of China Ltd's Dividend Analysis
- Aluminum Extrusion Market worth $166.65 billion by 2030, at a CAGR of 7.0%, says MarketsandMarkets™
- Rare Earth Elements Market Global Forecast Report 2025-2030, Company Profiles of Leading Players - Lynas Rare Earths, Aluminum Corp of China
Compare Aluminum Corp of China Ltd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aluminum · 82 stocks
Valuation Multiplesvs Aluminum median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Materials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Fair value gap by industry
- Return on assets by industry
- PEG screener for stocks with fair value
- Undervalued stocks: Chinese Stocks
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Aluminum stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Shandong Hongqiao Aluminum Industry Holding 002379 | ¥14.85 | ¥23.21 | +56% | vs 601600 |
| China Hongqiao Group 1378 | HK$21.02 | HK$30.21 | +44% | vs 601600 |
| Henan Shenhuo Coal Industry and Electricity Power Co 000933 | ¥25.77 | ¥32.01 | +24% | vs 601600 |
| Press Metal Aluminium Holdings 8869 | 7.00 MYR | 7.70 MYR | +10% | vs 601600 |
| Hindalco Industries Limited HINDALCO | ₹937.85 | ₹1,026 | +9% | vs 601600 |
| Alcoa Corporation AA | $40.58 | $39.73 | −2% | vs 601600 |
| Shandong Nanshan Aluminium Co 600219 | ¥4.43 | ¥4.29 | −3% | vs 601600 |
| Norsk Hydro ASA NHY | kr 68.76 | kr 66.35 | −4% | vs 601600 |
| Tianshan Aluminum Group 002532 | ¥12.19 | ¥11.42 | −6% | vs 601600 |
| Yunnan Aluminium Co 000807 | ¥25.30 | ¥13.49 | −47% | vs 601600 |
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Key figures of Aluminum Corp of China Ltd
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