Xinren Aluminum (MN5.SG) is likely to be in focus after it posts 3Q results, with its revenue at RMB1.59 billion ($315 million), up 34.7% on year, attributable to higher export sales of aluminum plates; its net profit was 5.5% higher on year at RMB80.31 million.

The company’s cash flow was negative in the quarter (net cash used in operations at RMB21.13 million vs RMB24.8 million generated year earlier); increased spend on plant, property, generated less from financing activities; but expansion process underway, using the bulk of its IPO proceeds (listed October 27) to increase the capacity at its Jiangyin fabrication plant -- Xinren says it’s “optimistic that 4Q 2010 results would be better.”

Company is also well placed to benefit from a continued recovery of the global economy, which is expected to drive demand for aluminum products. After its steady decline post listing to a $0.365 low (vs $0.55 IPO price), the shares have recouped some losses of late,

Shares down 2.3% at $0.43.