LZJT(300428)2024-10-25 11:09Group 1: Company Performance - In Q3 2024, the company achieved a total revenue of 19.369 billion CNY, representing a year-on-year growth of 13.09% [4] - The net profit attributable to shareholders was 493 million CNY, an increase of 19.09% compared to the same period last year [4] - Excluding stock incentive amortization expenses, the adjusted net profit was 533 million CNY, reflecting a growth of 6.84% year-on-year [4] Group 2: Product Development and Market Expansion - The company has made significant progress in the development and mass production of new materials, including integrated die-casting non-heat-treated alloy materials and low-carbon A356 alloys [4][7] - The company’s silicon-aluminum dispersion composite materials are applicable in aerospace, electronics packaging, and semiconductor fields, enhancing product versatility [5] - The integrated die-casting non-heat-treated materials have gained certification from several leading new energy vehicle manufacturers, indicating strong market acceptance [7] Group 3: Policy and Market Environment - The establishment of the China Resource Recycling Group and the announcement of recycled copper and aluminum import management policies provide positive support for the company’s recycled aluminum alloy business [6] - These policies are expected to alleviate market supply-demand tensions and reduce material costs, thereby enhancing profitability [6] Group 4: International Expansion - The company established its first overseas aluminum alloy wheel factory in Thailand in 2010 to counter EU anti-dumping measures [9] - In 2024, the commissioning of the Mexican aluminum alloy wheel factory further strengthens the company’s global supply chain and strategic partnerships [9][10] - The overseas capacity expansion allows the company to utilize local resource advantages and enhance the recycling of overseas recycled aluminum [10]