For Immediate Release

Press Release

Nanshan Aluminium International (2610.HK)

Announces 2025 Annual Results

Total Revenue Increases by 11.9%

Southeast Asia’s Leading Alumina Producer Advancing Towards Integrated Aluminium Layout

[Hong Kong, 26 March 2026] Nanshan Aluminium International Holdings Limited (Stock Code: 2610.HK) ("the Company" or "Nanshan Aluminium International," together with its subsidiaries, "the Group"), Southeast Asia's leading alumina manufacturer, is pleased to announce its annual results for the year ended 31 December 2025 ("FY 2025" or "the reporting period").

Performance Review: Steady Progress Amidst Headwinds; Cost Advantages Lay a Solid Foundation for Profitability

For the year ended 31 December 2025, the Group's revenue was approximately US$1,141.8 million, an increase of 11.9% from approximately US$1,020.7 million in the previous year, primarily driven by the increase in sales volume, which outweighed the decrease in the average selling price. In 2025, the commissioning of new alumina capacity, together with a lag in the release of downstream electrolytic aluminium capacity, has resulted in a short-term supply-demand imbalance, exerting periodic pressure on alumina prices. Despite the complex market environment, the Group maintained stable operational performance in the Southeast Asian market, benefiting from its continued strengthening of cost control and scale advantages, coupled with the ongoing optimisation of the customer structure. This has laid a solid foundation for the Group's subsequent industrial chain extension. During the reporting period, the Group's alumina sales volume was approximately 2.643 million tons, with an average selling price of approximately US$432 per ton.

During the reporting period, the Group steadily advanced capacity construction, with the New Alumina Production Project executed efficiently in two phases: the first one million tons of alumina per annum commenced operation in the third quarter of 2025; subsequently, the second one million tons of alumina per annum has been put into operation in the fourth quarter of 2025, fully demonstrating the project execution capabilities of the Group. As of the date hereof, the Group’s designed annual alumina production capacity has reached 4 million tons and is one of the largest alumina producers in Southeast Asia.

The Group's customer base mainly consists of regional downstream manufacturers and global commodity traders, and has established long-term, stable cooperative relationships with several core customers. During the reporting period, the Group successfully recorded sales to a new downstream manufacturer customer in India, marking significant progress in diversifying its customer structure and further demonstrating the Group's superior geographical coverage and logistics capabilities compared to its industry peers.

Business Development: Expanding Downstream into Electrolytic Aluminium to Forge a Second Growth Curve

The Group is steadily advancing its industrial chain extension strategy from alumina to electrolytic aluminium. On 19 January 2026, the Group announced its plan to initiate the preparatory work for the first phase of the Electrolytic Aluminium Project with annual production capacity of 250,000 tons and an initial estimated investment amount of approximately USD440 million over a construction period of two years. The Electrolytic Aluminium Project is proposed to be adjacent to the Group’s existing alumina plant, allowing for operational synergies within the industrial park. Furthermore, the Group formulates the planning of an additional capacity of 500,000 tons over the medium to long term. At the long-term strategic level, the Group intends to increase its electrolytic aluminium production capacity in a stepwise manner, with a view to aligning the Group’s electrolytic aluminium production capacity with its alumina production capacity. To support funding needs and broaden its shareholder base, the Group completed a top-up placing and subscription in January 2026, successfully raised approximately HK$2 billion, thereby injecting solid financial resources for the execution of this strategy.

Financial Strength: Proposed Final Dividend of HK$0.41 Per Share

For the year ended 31 December 2025, the profit attributable to the shareholders of the Company increased by 1.6% to approximately US$408.4 million, compared to US$401.8 million in the previous year. Total equity attributable to equity shareholders of the Company surged by 47.4% to approximately US$1,863.5 million, compared to US$1,264.2 million in the previous year.

The Group continues to maintain a sound financial position. The Board of Directors has recommended the declaration of a final dividend of HK$0.41 per share for 2025, actively sharing the Group's development achievements with shareholders and demonstrating the Board's firm confidence in the Group's long-term prospects.

Mr. Hao Weisong, Chairman of the Board and Chief Executive Officer of the Group, stated: “2025 was a profoundly significant year in our Group's history. We successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited, and were successively included in the Hang Seng Composite Index, the list of eligible securities for the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programmes, and the FTSE Global Equity Index Series, significantly enhancing our recognition in the capital market. Despite the periodic pressure on international alumina prices, the Group delivered a solid annual performance, relying on our globally leading cost advantages and regionally leading scale advantages. Concurrently, we have recently initiated preparation work for the first phase of the Electrolytic Aluminium Project with annual production capacity of 250,000 tons, with a medium-to-long-term plan for the construction of an additional 500,000 tons of capacity. Looking ahead, our goal is to build a short-distance, complete aluminium industry chain—encompassing ‘upstream resources - midstream smelting - downstream processing’—in Indonesia. Perseverance leads to a promising future. On behalf of the Board, I would like to express my sincere gratitude to all shareholders, business partners, customers and employees for their continuous support. We will continue our efforts to elevate the Group to new heights, forging a brilliant future together in this new chapter of our aluminium journey."

Future Outlook 

In the near term, the international alumina average market price continues to decline, which is expected to impact other enterprises operating in the alumina industry. Over the medium to long term, after the Electrolytic Aluminium Project is successively commissioned, the Group’s aluminium operation will be broadened and will create synergy for the Group’s existing business segments. The global electrolytic aluminium market is facing a structural shortage. Amid rigid capacity constraints under the PRC's production cap, sustained demand expansion from new energy, transportation, infrastructure and other sectors has driven a positive long-term outlook for electrolytic aluminium price, providing a solid market foundation for the capacity planning of the Group's Electrolytic Aluminium Project.

In the future, the Group will focus on advancing the following strategic initiatives: continue to leverage Indonesia's resource endowments to strengthen cost and supply chain advantages for key raw materials; ensure the efficient operation of the 4-million-ton annual designed alumina production capacity to deeply integrate scale, quality, and cost advantages into sustainable profitability and market competitiveness. At the same time, we will steadily advance the preparatory work of the first phase of the Electrolytic Aluminium Project with 250,000 ton annual production capacity in Indonesia, with a medium-to-long-term plan for an additional 500,000 tons of capacity, fully leveraging industrial park synergies to build the Group's second growth curve. The Group will also extend upstream and downstream at the appropriate time, advancing the development of a short-distance, complete aluminium industry chain encompassing "upstream resources - midstream smelting - downstream processing" within the Galang Batang Special Economic Zone on Bintan Island in Indonesia. This will maximise internal synergies, enhance overall operational efficiency and risk resilience, and build long-term competitive advantages.

-End-

About the Group

Nanshan Aluminium International Holdings Limited (Stock Code: 2610.HK) is a leading alumina manufacturer in Southeast Asia, specialising in the production and sales of metallurgical-grade alumina with an annual designed capacity of 4 million tons. The Group initiates the preparatory work for the first phase of the Electrolytic Aluminium Project with annual production capacity of 250,000 tons in 2026, and formulates the planning of an additional capacity of 500,000 tons in the medium to long term.

Shandong Nanshan Aluminium Co., Ltd. (Stock Code: 600219.SH), an A-share listed company, is the controlling shareholder of the Company. The Company is a constituent stock of the Hang Seng Composite Index and is included in the list of eligible securities for both Stock Connect programmes (Shanghai-Hong Kong and Shenzhen-Hong Kong). The Company is also included in the FTSE Global Equity Index Series, representing significant recognition from the capital market.

For enquiries, please contact:

Ms. Mildred HUANG

Associate Director of Investor Relations and Corporate Finance

Nanshan Aluminium International Holdings Limited

Email: ir@nanshanintl.com

Tel: +852 2988 8614

Ms. Alice SIU

Burson

Email: nanshanintl@bursonglobal.com

Tel: +852 9792 8525

You are welcome to visit the website of the Company for further details (https://www.nanshanintl.com/).