云南铝业股份有限公司 云铝股份 证券代码：000807 证券简称：云铝股份 公告编号：2025-056 重要内容提示： 1.云南铝业股份有限公司（以下简称"云铝股份"或"公司"）将通过非公开协议方式 向中铝物流集团有限公司（以下简称"中铝物流"）转让云南云铝物流投资有限公司（以下 简称"云铝物流"）51%股权，交易对价为人民币26,384.34万元（以最终经国资备案评估值 计算为准）。本次股权转让完成后，云铝股份持有云铝物流49%股权，云铝物流由中铝物流控 股。 2.中铝物流为公司控股股东中国铝业股份有限公司（以下简称"中国铝业"）的附属公 司，根据《深圳证券交易所股票上市规则》的有关规定，本次交易构成关联交易。 3.本次交易不构成《上市公司重大资产重组管理办法》规定的重大资产重组。 关于向中铝物流转让云铝物流 51%股权暨关联交易的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大 遗漏。 4.本次关联交易经公司独立董事专门会议审议通过后，经公司第九届董事会第二十二次 会议审议通过（公司本次董事会仅审议该项议案），本次关联交易无需提交公司股东会审议。 一、关联交易 ...

云铝股份公告称，公司拟通过非公开协议方式向中铝物流转让云铝物流51%股权，交易对价2.64亿元 （以最终经国资备案评估值计算为准）。转让完成后，公司持有云铝物流49%股权，其由中铝物流控 股。中铝物流为公司控股股东附属公司，本次交易构成关联交易，但不构成重大资产重组，无需提交股 东会审议。2025年1-11月，公司与中铝集团及其所属企业累计关联交易394.97亿元。 ...

中国铝业(02600.HK)在港公告，本公司全资附属公司中铝物流拟通过非公开协议方式以现金收购云铝股 份持有的云铝物流51%股权。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 自願公告 中鋁物流收購雲鋁物流股權 截 至 本 公 告 日 期，有 關 各 方 尚 未 就 擬 議 收 購 簽 訂 任 何 具 體 協 議。待 簽 訂 具 體 協 議 時，本 公 司 將 遵 守 香 港 上 市 規 則 的 適 用 規 定 及 時 履 行 信 息 披 露 義 務。 本 公 司 股 東 及 潛 在 投 資 者 在 買 賣 本 公 司 股 份 時，必 須 謹 慎 行 事。 承董事會命 中國鋁業股份有限公司 葛小雷 公 司秘書 本 公 告 乃 由 中 國 鋁 業 股 份 有 限 公 司（「本公司」）自 願 作 出。 於2025年12月30日，經 本 公 司 第 九 屆 董 事 會（「董事會」）第 八 次 會 議 審 議 通 過，本 公 司 全 資 附 屬 公 司 中 鋁 物 流 集 團 有 限 公 司（「中鋁物流」）擬 通 過 ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300337 | 银邦股份 | 14.58 | -6.66% | 127.04万 | 19.01亿 | | 603876 | 鼎胜新材 | 14.87 | -5.65% | 64.29万 | - 9.57亿 | | 920634 | 新威凌 | 24.37 | -4.69% | 2.13万 | 5231.34万 | | 601212 | 白银有色 | 5.95 | -4.65% | 391.33万 | 22.95亿 | | 002295 | 精艺股份 | 12.99 | -3.28% | 17.36万 | 2.24亿 | | 002578 | 闽发铝业 | 4.54 | -2.58% | 74.94万 | 3.42 Z | | 600531 | 豫光金铅 | 11.93 | -2.53% | 88.75万 | 10.46亿 | | 300057 | 万顺新材 | 5.76 | -2.21% | 22.58万 | 1.31亿 | | 000603 | ...

Core Viewpoint - The aluminum market is experiencing a complex situation with a significant drop in spot prices, a slight rebound in futures, and a rise in aluminum concept stocks, indicating a clash between short-term adjustments and long-term positive factors [9] Group 1: Market Performance - On December 30, the international aluminum market rose slightly to $2969 per ton, while domestic futures showed mixed performance, with the main 2602 contract closing at 22565 yuan per ton, up 0.13% [1] - The spot market saw a substantial decline, with prices in the Yangtze region dropping by 310 yuan per ton and in Guangdong by 320 yuan per ton, reflecting weak demand from downstream buyers [1][2] Group 2: Demand and Supply Dynamics - The significant drop in the spot market is attributed to a seasonal demand slump and high aluminum prices, leading to reduced purchasing intentions among downstream enterprises [2] - Downstream leading enterprises are operating at only 60.8% capacity, indicating a decrease in demand across various sectors [2] Group 3: Macro Factors - Uncertainties in overseas policies, particularly comments from former President Trump regarding the Federal Reserve, have created market concerns, although the direct impact on aluminum prices is limited [3] - Positive domestic economic indicators, including a rise in major stock indices and expectations for increased infrastructure investment, are providing strong support for aluminum prices [4] Group 4: Inventory and Cost Analysis - Short-term inventory pressures are evident due to stable production capacity and improved shipping conditions, leading to an increase of 44,000 tons in aluminum ingot and rod inventories [5] - Long-term support for aluminum prices is expected due to relatively low inventory levels compared to last year and stable production costs, with a cost support level estimated at around 20,000 yuan per ton [5] Group 5: Company Insights - Yun Aluminum Co., as a leader in "green aluminum," benefits from lower production costs due to its reliance on hydropower, allowing it to maintain profitability even at lower aluminum prices [6] - Tianshan Aluminum's integrated business model across the aluminum supply chain enhances its risk resilience, allowing it to offset losses in one area with profits from another [6] Group 6: Market Outlook - In the short term, the aluminum market is expected to face pressure with prices likely to fluctuate between 22,000 and 23,000 yuan per ton due to weak demand and inventory accumulation [7] - The medium to long-term outlook is optimistic, with anticipated demand growth from infrastructure investments and the rapid development of the new energy vehicle and photovoltaic industries, potentially raising aluminum prices to a range of 24,000 to 26,000 yuan per ton by 2026 [8]

Core Viewpoint - The recent performance of the Huabao ETF (159876) indicates strong investor confidence in the non-ferrous metals sector, with significant net subscriptions and positive price movements, suggesting a bullish outlook for the industry [1][5]. Group 1: ETF Performance - The Huabao ETF saw an intraday increase of 2.27%, currently up by 1.55%, with a real-time net subscription of 28.2 million units and an additional 15.36 million yuan attracted yesterday, reflecting strong market interest [1]. - Key constituent stocks such as Yun Aluminum and Tianshan Aluminum reached new highs, while Hai Liang, China Aluminum, and Huayou Cobalt rose over 4% [1]. Group 2: Stock Performance - Notable stock performances include: - Yun Aluminum: +5.67%, market cap of 108.6 billion yuan, trading volume of 1.625 billion yuan [2]. - Tianshan Aluminum: +4.86%, market cap of 75.3 billion yuan, trading volume of 1.023 billion yuan [2]. - Hai Liang: +4.85%, market cap of 30.2 billion yuan, trading volume of 393 million yuan [2]. - China Aluminum: +4.54%, market cap of 201.7 billion yuan, trading volume of 4.406 billion yuan [2]. - Huayou Cobalt: +4.42%, market cap of 129 billion yuan, trading volume of 4.911 billion yuan [2]. Group 3: Industry Insights - The National Development and Reform Commission emphasizes the need for large-scale mergers and restructuring in the aluminum and copper industries to enhance competitiveness and scale [2]. - The aluminum market is undergoing a transformation, shifting from a traditional commodity to a core energy value carrier, with potential for independent price increases driven by the copper-aluminum ratio and rising demand for aluminum [3]. - The current phase of the industry is characterized by a reversal in fundamentals, a "de-involution" policy, and opportunities arising from AI developments, which are expected to lead to more stable returns and a focus on investment efficiency [4].

Core Viewpoint - The recent performance of the Huabao ETF (159876) indicates strong investor confidence in the non-ferrous metals sector, with significant net subscriptions and notable price increases among key stocks in the industry [1][6]. Group 1: ETF Performance - The Huabao non-ferrous metals ETF saw an intraday increase of 2.27%, currently up by 1.55%, with a real-time net subscription of 28.2 million shares [1]. - The ETF attracted 15.36 million yuan in investments yesterday, reflecting positive market sentiment towards the non-ferrous metals sector [1]. Group 2: Key Stocks Performance - Major stocks such as Yun Aluminum and Tianshan Aluminum reached new highs, while Hai Liang, China Aluminum, and Huayou Cobalt saw increases of over 4% [1][2]. - Other stocks like Yahua Group, Luoyang Molybdenum, and Guocheng Mining also experienced upward movements [1]. Group 3: Industry Insights - The National Development and Reform Commission has encouraged large-scale mergers and restructuring in the aluminum and copper smelting sectors to enhance competitiveness [2]. - The aluminum market is evolving, with aluminum now seen as a core carrier of energy value, potentially leading to independent upward momentum driven by the copper-aluminum ratio and increased demand for aluminum as a substitute for copper [3]. Group 4: Investment Opportunities - The current phase of the non-ferrous metals industry is characterized by a reversal in fundamentals, with traditional cyclical industries showing signs of recovery and long-term investment potential [3]. - The "anti-involution" policy is expected to guide industry development towards more efficient investment strategies, focusing on upgrading and cost reduction rather than inefficient expansion [3]. - The rise of AI is creating new opportunities in the non-ferrous sector, particularly in materials used for advanced packaging and electronic components, which are expected to see increased demand [4]. Group 5: Investment Strategy - A diversified investment approach through the Huabao ETF and its associated funds is recommended to capture the overall beta performance of the non-ferrous metals sector, mitigating risks associated with investing in single metal industries [6].

Group 1 - The core viewpoint of the news highlights a positive trend in the National Securities Free Cash Flow Index, which rose approximately 0.5%, with significant gains in constituent stocks such as Nanjing Xinbai and others [1] - The largest free cash flow ETF (159201) has attracted over 375 million yuan in the last 10 trading days, bringing its total size to 8.299 billion yuan, indicating strong capital inflow [1] - According to Xinda Securities, both internal and external uncertainties are easing, and positive factors catalyzing the year-end market rally are increasing, including rebounds in U.S. tech stocks, appreciation of the yuan, and rising prices of non-ferrous metals [1] Group 2 - The free cash flow ETF (159201) and its linked funds are closely tracking the National Securities Free Cash Flow Index, selecting stocks with positive and high cash flow after liquidity, industry, and ROE stability screening, making it suitable for long-term investment [2] - The fund management fee is set at an annual rate of 0.15%, and the custody fee at 0.05%, both of which are among the lowest in the market, maximizing benefits for investors [2]

Market Overview - The Shanghai Composite Index decreased by 0.10% at the close of trading, with a total trading volume of 772.05 million shares and a transaction value of 1,304.163 billion yuan, representing a 7.12% decrease compared to the previous trading day [1]. Industry Performance - The top-performing industries included: - Oil and Petrochemicals: Increased by 1.61% with a transaction value of 116.95 billion yuan, led by 康普顿 (up 10.01%) [1]. - Media: Increased by 1.37% with a transaction value of 373.93 billion yuan, led by 百纳千成 (up 19.94%) [1]. - Non-ferrous Metals: Increased by 1.17% with a transaction value of 859.41 billion yuan, led by 云铝股份 (up 5.97%) [1]. - The worst-performing industries included: - Commercial Retail: Decreased by 0.97% with a transaction value of 240.02 billion yuan, led by 百大集团 (down 9.06%) [2]. - Real Estate: Decreased by 0.78% with a transaction value of 139.03 billion yuan, led by 苏州高新 (down 4.68%) [2]. - Transportation: Decreased by 0.78% with a transaction value of 177.80 billion yuan, led by 厦门国贸 (down 7.64%) [2]. Stock Highlights - Notable gainers included: - 康普顿 in the Oil and Petrochemicals sector, up 10.01% [1]. - 百纳千成 in the Media sector, up 19.94% [1]. - 步科股份 in the Machinery Equipment sector, up 14.10% [1]. - Notable losers included: - *ST长药 in the Pharmaceutical sector, down 17.80% [1]. - *ST熊猫 in the Non-banking Financial sector, down 5.00% [1]. - 安记食品 in the Food and Beverage sector, down 8.99% [1].