Nanshan Aluminium International (02610) saw its shares surge over 7% during the trading session. As of the time of writing, the stock was up 5.13%, trading at HK$70.65, with a turnover of HK$236 million.

Nanshan Aluminium recently announced plans to establish a project subsidiary, PT.HEAI, in Indonesia through its indirect wholly-owned subsidiary, Shengshi Asia, in a joint venture with Shengshi Aluminium. The project, located in the Indonesia Bintan Industrial Park, aims to construct an annual production capacity of 250,000 tons of electrolytic aluminum, with an investment of approximately $437 million (equivalent to RMB 3.056 billion). The construction scope includes the main production facilities for the electrolytic aluminum plant, with a projected construction period of two years.

According to the announcement, the company has already built an annual alumina production capacity of 4 million tons in Indonesia, making it the largest alumina producer in Southeast Asia. Analysts from CICC believe that the announcement to commence construction of this 250,000-ton annual electrolytic aluminum capacity, along with plans for an additional 500,000 tons, signifies the company's official transition into an integrated electrolytic aluminum producer. This move is expected to further enhance the company's profitability.