证券代码：601702 证券简称：华峰铝业 公告编号：2025-028 上海华峰铝业股份有限公司关于全资子公司 取得不动产权证书暨对外投资进展的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 上海华峰铝业股份有限公司（以下简称"公司"）之全资子公司华峰铝业 有限公司（以下简称"重庆铝业"）取得坐落于重庆市涪陵区白涛街道官桥社区三、 四、五组的工业用地不动产权证书。 ● 本事项不构成关联交易，也不构成《上市公司重大资产重组管理办法》规 定的重大资产重组。 一、对外投资概述 公司于2022年2月11日召开第三届董事会第十四次会议，审议通过了《关于投资 建设年产15万吨新能源汽车用高端铝板带箔项目的议案》，拟通过全资子公司—— 华峰铝业有限公司于重庆市涪陵区白涛化工园区建设"年产15万吨新能源汽车用高 端铝板带箔项目"，项目总投资198,001万元。具体内容详见公司于上海证券交易所 网站（www.sse.com.cn）及公司指定信息披露报刊上披露的相关公告（公告编号： 2022-008）。2022年5月18 ...

证券代码：601702 证券简称：华峰铝业 公告编号：2025-027 上海华峰铝业股份有限公司 关于公司获得国家高新技术企业证书的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 上海华峰铝业股份有限公司(以下简称"公司")近日收到由上海市科学技术委员会、 上海市财政局、国家税务总局上海市税务局联合颁发的《高新技术企业证书》，证书编号 为GR202431006793，发证时间为2024年12月26日，有效期三年。 本次公司高新技术企业的认定系原证书有效期满后的重新认定。根据《中华人民共和 国企业所得税法》以及国家对高新技术企业的相关税收政策规定，公司自本次通过高新技 术企业认定后连续三年(即2024年至2026年)继续享受高新技术企业的相关税收优惠政策， 按照15%的所得税率缴纳企业所得税。 公司2024年度已按照15%的税率进行纳税申报及预缴，本次通过高新技术企业的认定 不会影响公司2024年度的相关财务数据。 特此公告。 上海华峰铝业股份有限公司董事会 2025年4月29日 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [4] Core Views - The company achieved a record high quarterly performance in Q4 2024, driven by new products and the expansion of its Chongqing base [4] - The company is expected to benefit from the growing demand for aluminum thermal materials in the electric vehicle sector and traditional automotive exports, with long-term growth potential from energy storage and data centers [6] Financial Performance - In 2024, the company reported revenue of 10.9 billion yuan (up 17.1% year-on-year) and a net profit attributable to shareholders of 1.22 billion yuan (up 35.4% year-on-year) [6] - Q4 2024 revenue reached 3.2 billion yuan (up 23.2% year-on-year, up 16.6% quarter-on-quarter) with a net profit of 350 million yuan (up 48.5% year-on-year, up 13.3% quarter-on-quarter) [6] - In Q1 2025, revenue was 2.9 billion yuan (up 23% year-on-year, down 9.2% quarter-on-quarter) with a net profit of 266 million yuan (up 5% year-on-year, down 24% quarter-on-quarter) [6] Revenue and Profit Forecast - Revenue forecasts for 2025-2027 are 13.7 billion yuan, 15.3 billion yuan, and 16.4 billion yuan, with year-on-year growth rates of 25.89%, 12.04%, and 7.00% respectively [5] - Net profit forecasts for the same period are 1.44 billion yuan, 1.67 billion yuan, and 1.92 billion yuan, with year-on-year growth rates of 17.88%, 16.57%, and 14.88% respectively [5] Valuation Metrics - The current price-to-earnings (P/E) ratios for 2025-2027 are projected to be 11.04, 9.47, and 8.25 respectively [5] - The company is positioned as a leader in aluminum thermal transfer materials, benefiting from increased usage in electric vehicles and traditional automotive exports [6]

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price based on a PE of 11/10/8X for the years 2025-2027 respectively [6][4]. Core Insights - The company achieved a revenue of 10.878 billion yuan in 2024, representing a year-on-year growth of 17.08%, and a net profit of 1.218 billion yuan, up 35.44% year-on-year [1][5]. - The production of aluminum thermal transmission materials reached approximately 438,600 tons in 2024, a 13.17% increase from the previous year, while the average price of aluminum ingots was about 19,921 yuan per ton, up 6.53% [2][3]. - The company has a strong customer base in the heat exchange sector, including global leaders such as Denso Corporation and Mahle Group, as well as key players in the new energy sector [3]. Summary by Sections Financial Performance - In Q4 2024, the company reported a revenue of 3.2 billion yuan, a 23.22% increase year-on-year, and a net profit of 350 million yuan, up 48.48% year-on-year [1]. - For Q1 2025, the revenue was 2.905 billion yuan, a 22.97% increase year-on-year, while the net profit was 266 million yuan, a 5% increase year-on-year [1]. Production and Cost Efficiency - The manufacturing cost per ton of aluminum thermal transmission materials was approximately 3,020 yuan in 2024, down 12.18% year-on-year [2]. - The company’s net profit per ton after tax increased from 2,350 yuan in 2023 to 2,808 yuan in 2024, reflecting a 19.53% growth [2]. Project Expansion - The company is expanding its Chongqing Phase II project from an annual production capacity of 150,000 tons to 450,000 tons, which is expected to significantly reduce costs and enhance profitability [4]. Profit Forecast - The projected net profits for the company from 2025 to 2027 are 1.443 billion yuan, 1.644 billion yuan, and 2.073 billion yuan respectively, with corresponding PE ratios of 11, 10, and 8 [5][4].

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price based on a PE of 11/10/8X for the years 2025-2027 respectively [6][4]. Core Insights - The company achieved a revenue of 10.878 billion yuan in 2024, representing a year-on-year growth of 17.08%, and a net profit of 1.218 billion yuan, up 35.44% year-on-year [1][5]. - The production of aluminum thermal transmission materials reached approximately 438,600 tons in 2024, a year-on-year increase of 13.17% [2]. - The average processing fee remained stable at around 7,000 yuan per ton, while the manufacturing cost per ton decreased by 12.18% to approximately 3,020 yuan [2][3]. Summary by Sections Financial Performance - In Q4 2024, the company reported a revenue of 3.2 billion yuan, a year-on-year increase of 23.22%, and a net profit of 350 million yuan, up 48.48% year-on-year [1]. - For Q1 2025, the revenue was 2.905 billion yuan, a year-on-year growth of 22.97%, while the net profit was 266 million yuan, reflecting a 5% increase year-on-year [1]. Production and Cost Analysis - The average price of aluminum ingots in 2024 was approximately 19,921 yuan per ton, a 6.53% increase from the previous year [2]. - The company's after-tax net profit per ton increased from 2,350 yuan in 2023 to 2,808 yuan in 2024, marking a 19.53% growth [2]. Market Position and Client Base - The company has established strong relationships with leading clients in the automotive and new energy sectors, including global giants like Denso and Mahle [3]. - The company is enhancing its production capabilities with the expansion of its Chongqing Phase II project, which will increase its annual production capacity to 450,000 tons [4]. Future Projections - The company forecasts net profits of 1.443 billion yuan, 1.644 billion yuan, and 2.073 billion yuan for the years 2025, 2026, and 2027 respectively, with corresponding PE ratios of 11, 10, and 8 [5][4].

Summary of Huafeng Aluminum's Conference Call Company Overview - **Company**: Huafeng Aluminum - **Year**: 2024 - **Revenue**: Exceeded 10 billion, profit surpassed 1 billion, with a year-on-year growth of 35% [3][4][5] Key Points and Arguments Financial Performance - The significant revenue and profit growth is attributed to a shift in marketing strategy focusing on high-tech and high-value-added products while strategically abandoning low-priced products [3][4] - The company achieved notable progress in technological innovation and product iteration, collaborating closely with main manufacturers and clients [3][4] Strategic Adjustments - To mitigate the impact of the export tax rebate cancellation effective December 1, 2024, Huafeng Aluminum implemented measures such as prioritizing shipments, negotiating with clients, and exploring processing models [5][7] - The planned annual production capacity was increased from 150,000 tons to 450,000 tons, with an investment of approximately 600 million yuan and an additional land acquisition of about 500 acres [6][12] Market Outlook - The company maintains a positive outlook on future demand from the automotive industry, including both new energy and traditional fuel vehicles, as well as emerging industries like aluminum heat exchangers [10][12] - The Chongqing Phase II project is expected to be completed within one to two years, introducing new rolling machines that could enhance product yield by 3-5% and reduce costs [12][30] Challenges and Responses - Facing challenges such as the cancellation of export tax rebates and intensified U.S.-China trade tensions, the company has managed to maintain stable export orders at around 30% [7][9] - The overall production target for 2025 is set at 500,000 tons, with confidence in achieving this despite external pressures [7][31] Technological Advancements - The digital transformation initiatives have significantly improved production management, cost control, and operational efficiency [8][4] - New products like the CTOB boat-shaped water cooling plate are being promoted, which align with market trends for simplification and integration [32][33] Additional Important Insights - The company’s export to the U.S. has been minimal due to previous sanctions, but it remains competitive in over 40 countries [9][18] - The domestic electrolytic aluminum production capacity is expected to stabilize around 45 million tons, with a slight increase overseas [13][15] - The impact of aluminum price fluctuations on profit margins is moderated by the company's longer production cycles [20][38] - The company has a strong customer base, with over 85% of products sold to the automotive sector, contributing to its high profitability [42] This summary encapsulates the essential insights from Huafeng Aluminum's conference call, highlighting its financial performance, strategic adjustments, market outlook, challenges, technological advancements, and additional insights into its operations and industry positioning.

Core Viewpoint - The company, Shanghai Huafeng Aluminum Co., Ltd., has released its quarterly report for the first quarter of 2025, ensuring the accuracy and completeness of the financial information presented [1][2]. Financial Data Summary - The quarterly financial statements are unaudited, and the company has confirmed that there are no significant changes in the financial indicators compared to the previous period [2][4]. - The report includes the consolidated balance sheet, profit statement, and cash flow statement for the first quarter of 2025, all prepared in RMB [4][5]. Management Assurance - The board of directors, supervisory board, and senior management have guaranteed the authenticity and completeness of the quarterly report, taking legal responsibility for any misrepresentation or omissions [1][2]. - Key personnel, including the company leader Chen Guozhen and accounting heads, have also confirmed the accuracy of the financial data [1][5].

证券代码：601702 证券简称：华峰铝业 公告编号：2025-024 上海华峰铝业股份有限公司 关于召开 2024 年年度股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一) 股东大会类型和届次 2024 年年度股东大会 召开的日期时间：2025 年 5 月 12 日 13 点 00 分 召开地点：公司 1 号会议室 股东大会召开日期：2025年5月12日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 (五) 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2025 年 5 月 12 日 至 2025 年 5 月 12 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15 ...

上海华峰铝业股份有限公司 2024 年年度股东大会 会议资料 2025 年 5 月 1 上海华峰铝业股份有限公司 2024 年年度股东大会 目 录 | 年年度股东大会会议须知 2 | 第一部分： 公司 | | 2024 | | --- | --- | --- | --- | | 年年度股东大会会议议程 4 | 第二部分： 公司 | | 2024 | | 年年度股东大会会议议案 6 | 第三部分： 2024 | | | | 年年度报告全文及其摘要 6 | 议案 1 | 公司 | 2024 | | 年度董事会工作报告 7 | 议案 2 | 公司 | 2024 | | 年度监事会工作报告 8 | 议案 3 | 公司 | 2024 | | 年度财务决算报告及 | 议案 4 | 公司 2025 年度预算报告 9 | 2024 | | 2024 | 议案 5 | 关于《公司 年度利润分配预案》的议案 15 | | | 年度公司董事、监事及高级管理人员薪酬考核 | 议案 6 | 关于 | 2024 | | 分配的议案 20 | | | | | 2025 | 议案 7 | 关于续聘公司 年度审计机构并议定 2024 年度审计 ...

证券代码：601702 证券简称：华峰铝业 公告编号：2025-025 上海华峰铝业股份有限公司 第四届监事会第十三次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、监事会会议召开情况 上海华峰铝业股份有限公司（以下简称"本公司"或"公司"）监事会于2025年 4月7日以邮件、电话等方式向全体监事发出第四届监事会第十三次会议（以下简 称"本次会议"）通知，本次会议于2025年4月18日下午1点30分在公司1号会议室 以现场结合通讯方式召开。本次会议应到监事3名，实到监事3名，其中监事潘利 军采用通讯方式参会。本次会议由监事会主席祁洪岩女士召集和主持。董事会秘 书列席会议。本次会议的召集和召开程序符合《公司法》和公司章程的规定，会 议决议合法有效。 二、监事会会议审议情况 经与会监事审议表决，一致通过如下议案： 1、审议通过《公司2024年年度报告全文及其摘要》。 公司监事会审议通过了《公司2024年年度报告全文》及其摘要，并发表书面 审核意见如下： （1）公司 2024年年度报告全文及摘要的编制和审议程序符合 ...