CITIC Resources (01205) plans to sell part of its stake in American aluminum industry.

CITIC RESOURCES (01205) announced that the company plans to seek approval from shareholders at a special general meeting to authorize the directors to sell up to (i) 1,691,918 American Depositary Receipts and (ii) 551,306 shares of American Aluminum, totaling approximately 0.86% of the total issued shares of American Aluminum. The minimum selling price per share of American Aluminum is $50. As of the date of this announcement, the Group holds approximately 1.58% equity interest in American Aluminum through its holdings of American Aluminum shares (traded on the NYSE) and American Depositary Receipts (traded on the ASX and convertible into American Aluminum shares traded on the NYSE). These equity interests in American Aluminum have been classified as financial assets at fair value through other comprehensive income in the Group's financial statements. Given the current market conditions, the Board believes that the proposed sale will allow the Group to realize its investment in American Aluminum, thereby enhancing overall liquidity and balancing the Group's investment portfolio. Furthermore, the sale will provide the Group with greater flexibility to reallocate its resources.