金证法意[2025]字 1119 第 0981 号 2021 年限制性股票激励计划预留授予部分第二个解 除限售期解除限售条件成就、回购注销部分激励对 象已获授但尚未解除限售的限制性股票及调整回购 价格的 法律意见书 ibla i天堂 in 5 III & I 北京市建国门外大街1号国贸大厦A座十层 100004 电话:010-5706 8585 传真:010-8515 0267 北京金诚同达律师事务所 关于 中国铝业股份有限公司 金诚同达律师事务所 法律意见书 目 景 | 释 义 | | --- | | 正 文 | | 一、本次解除限售和本次回购注销、回购价格调整的批准和授权 . | | 二、本次解除限售的相关情况 . | | (一) 本次激励计划预留授予部分第二个限售期即将届满 . | | (二)本次解除限售条件已成就 | | (三)本次解除限售的激励对象及数量 | | 三、本次回购注销、回购价格调整的具体情况 … | | （一）回购人员及回购数量 | | （二）本次回购价格的调整事由及方法…………………………………………………………………………………………………………………………………………………………… ...

中国铝业股份有限公司董事会薪酬委员会 关于回购注销部分激励对象已获授但尚未解除限售的限制性 股票、调整回购价格及预留授予部分第二个解除限售期解除 限售条件已成就的核查意见 中国铝业股份有限公司（以下简称"公司"）董事会薪酬委员会（以下简称 "委员会"）依据《中华人民共和国公司法》《中华人民共和国证券法》《上海 证券交易所股票上市规则》《上市公司股权激励管理办法》（以下简称"《管理 办法》"）《中央企业控股上市公司实施股权激励工作指引》等相关法律、法规、 规范性文件及《中国铝业股份有限公司 2021 年限制性股票激励计划》（以下简 称"《激励计划》"或"本次激励计划"）《中国铝业股份有限公司 2021 年限 制性股票激励计划实施考核管理办法》（以下简称"《考核管理办法》"）的相 关规定，对公司本次回购注销部分激励对象已获授但尚未解除限售的限制性股票 数量及调整回购价格，以及本次激励计划预留授予部分第二个解除限售期解除限 售条件已成就等事项进行了核查，发表核查意见如下： 一、鉴于公司已完成 2025 年中期股息派发，根据《激励计划》中关于派息 等事项的相关规定，将首次授予的限制性股票回购价格由人民币 2.72 元 ...

Group 1 - The A-share non-ferrous metal sector experienced a significant rebound after an initial drop, with the non-ferrous ETF Huatai-PineBridge (159652) rising over 3% in the afternoon session, completing an adjustment with a net subscription of 1 million shares, amounting to over 200 million CNY [1] - The trading volume exceeded 800 million CNY, with a turnover rate surpassing 10%, indicating active market participation [1] - Key stocks in the sector saw substantial gains, with companies like Tongling Nonferrous Metals, Northern Copper, and Shenghe Resources hitting the daily limit, while Jiangxi Copper and Yunnan Copper rose over 7% and 9% respectively [1] Group 2 - The non-ferrous ETF Huatai-PineBridge (159652) attracted significant capital inflow, with over 480 million CNY in the last 5 days and over 1.5 billion CNY in the last 20 days, bringing its total scale to 7.348 billion CNY [2] - The precious metals market remains strong, with COMEX gold prices surpassing 5600 USD, reaching a record high, and the Shanghai gold futures contract breaking through the 1200 CNY per gram mark, with a monthly increase of over 25% [2] - The metal industry is entering a weak supply cycle, with global mining supply expected to remain rigid until 2028, while demand is anticipated to rise due to green energy transitions and new production capabilities [2]

1月29日，中国铝业涨5.68%，截至发稿，报15.43元/股，成交30.77亿元，换手率1.53%，总市值2647.11 亿元。 资料显示，中国铝业股份有限公司位于北京市海淀区西直门北大街62号，成立日期2001年9月10日，上 市日期2007年4月30日，公司主营业务涉及铝土矿、煤炭等资源的勘探开采,氧化铝、原铝和铝合金产品 生产、销售、技术研发,国际贸易,物流产业,火力及新能源发电等。主营业务收入构成为：销售商品 97.41%，其他业务收入1.56%，提供服务1.03%。 从基金十大重仓股角度 东财有色增强A（011630）基金经理为杨路炜。 截至发稿，杨路炜累计任职时间4年321天，现任基金资产总规模20.1亿元，任职期间最佳基金回报 174.05%， 任职期间最差基金回报-41.77%。 声明：市场有风险，投资需谨慎。 本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本 文出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 责任编辑：小浪快报 数据显示，东财基金旗下1只基金重仓中国铝业。东财有色增强A（0116 ...

格隆汇1月28日｜港交所文件：贝莱德在1月22日将中国铝业(2600.HK)多头持仓比例从5.37%增至 6.30%。 ...

Group 1 - The non-ferrous metal sector is leading the market with a net inflow of over 34.3 billion yuan, with 16 stocks hitting the daily limit, including Hunan Gold and China Aluminum [1][8] - The popular ETF, Huabao Non-Ferrous Metal ETF (159876), saw its price surge by 7.35% at its peak and closed up 6.95%, reaching a historical high, with a net subscription of 140 million units on the day [1][8] - The ETF has attracted over 1.2 billion yuan in net inflows over the past 20 days, indicating strong investor interest [1][8] Group 2 - President Trump's comments on the dollar's volatility have raised concerns about U.S. dollar policy, leading to a significant drop in the dollar index, which makes dollar-denominated metals cheaper and potentially increases global demand [3][10] - Aluminum prices have reached a nearly four-year high, while spot gold has hit a record high of 5,283 dollars per ounce [3][10] - The upcoming Federal Reserve meeting is expected to lean towards a dovish monetary policy, which may provide a favorable environment for the non-ferrous metal market [3][10] Group 3 - The strong performance of non-ferrous metals is attributed to macroeconomic financial policies and structural changes in supply and demand, with a global easing cycle and a weaker dollar leading to increased liquidity in the sector [3][11] - Emerging demands from AI and new energy sectors, along with domestic policies aimed at regulating industry competition, are expected to further stimulate the non-ferrous metal market [3][11]

产业冷现实：高价格下的"需求疲软"与"累库压力" 与宏观层面的火热情绪形成鲜明对比的，是产业基本面面临的"冷现实"，尽管长期"供应刚性和需求增 长"的叙事逻辑难以被证伪，但短期却面临严峻考验。终端领域，新能源汽车市场因补贴政策的转换， 正处于过渡期，消费者观望心态较重，进入2月后，家电排产量也将出现环比下滑，据产业在线最新发 布的三大白电排产报告显示，2026年2月空冰洗排产合计总量共计2379万台，较去年同期生产实绩下降 22.1%，降低需求预期。高铝价对下游加工企业的抑制作用也十分明显，叠加需求淡季和部分地区环保 管控的影响，需求疲态进一步显露。据SMM数据，截至1月27日，长江A00铝贴水180元/吨，现货市场 持续处于高贴水状态，现货市场采购以刚性需求为主，尽管后续存在节前备货的需求，或使得整体下游 需求出现小幅回暖，但考虑到目前价格依然偏高，企业备货或以已有订单为依据，备货需求有限。 征稿(作者：国信期货 张嘉艺）--2026年伊始，铝价经历了一波凌厉涨势，以超过市场预期的速度刺穿 25000元/吨的高位，创下历史新高，尽管随后市场进入高位震荡与获利回吐阶段，但价格中枢已实现系 统性抬升。1月28日 ...

港交所消息：1月22日， 贝莱德 对 中国铝业 H股的多头持仓比例从5.37%增至6.30%。 ...

今日各行业资金流向 | 行业 | 日涨跌幅（%） | 资金流向（亿元） | 行业 | 日涨跌幅（%） | 资金流向（亿元） | | --- | --- | --- | --- | --- | --- | | 有色金属 | 5.92 | 106.92 | 社会服务 | -0.94 | -4.75 | | 通信 | 0.86 | 32.52 | 商贸零售 | -0.29 | -6.27 | | 建筑材料 | 2.18 | 17.21 | 非银金融 | -0.23 | -7.26 | | 基础化工 | 1.44 | 16.04 | 食品饮料 | -0.68 | -10.45 | | 银行 | -0.62 | 14.90 | 家用电器 | -1.47 | -19.16 | | 石油石化 | 3.54 | 13.74 | 建筑装饰 | -0.22 | -22.89 | | 煤炭 | 3.42 | 12.12 | 公用事业 | -0.39 | -23.69 | | 钢铁 | 2.16 | 8.87 | 计算机 | -1.02 | -31.71 | | 纺织服饰 | 1.46 | 7.85 | 传媒 | -1.77 | - ...

Market Performance - The Hong Kong stock market experienced a strong rally on January 28, with the Hang Seng Index rising over 2%, reaching a nearly four-and-a-half-year high at 27,826.91 points, an increase of 699.96 points or 2.58% [1] - The Hang Seng Technology Index closed at 5,900.16 points, up 145.44 points, reflecting a gain of 2.53% [2] Trading Volume and Capital Flows - The total trading volume for the day was 365.1 billion HKD, an increase of over 100 billion HKD compared to the previous day [4] - Despite the market's rise, southbound capital recorded a net outflow of over 3.4 billion HKD, marking four consecutive days of net selling in Hong Kong stocks [4][6] Analyst Insights - Analysts suggest that the continuous net selling by southbound funds, alongside the rising volume in Hong Kong stocks, may indicate foreign institutional investors are taking long positions in the market [6] - Goldman Sachs' chief China equity strategist noted that earnings growth is the primary driver for the rise in Chinese stocks this year, with an expected inflow of 3.6 trillion CNY into the Chinese stock market, partly through the "Shanghai-Hong Kong Stock Connect" [6] Company Highlights - CloudWalk Technology (HK09678) saw a significant intraday surge of 99%, closing up over 73%, although it remains far from its historical high of 879 HKD set last year [6] - CloudWalk announced that it expects revenue from its large model-related business to reach 600 to 620 million CNY by 2025, representing a year-on-year growth of approximately 1,057% to 1,095% [7] Sector Performance - The non-ferrous metals sector saw a notable increase, with China Aluminum (HK02600) rising over 12% [8] - Citigroup indicated that gold prices may rise to 6,000 USD in a bull market scenario, while copper and aluminum are seen as key components in AI and energy transitions, with bullish targets of 15,000 USD/ton for copper and approaching 4,000 USD/ton for aluminum [9] Market Outlook - Dongwu Securities highlighted that the Hong Kong market is in a long-term upward trend but faces short-term challenges, particularly regarding overseas factors and the potential impact of U.S. tech earnings on Hong Kong stocks [10] - The report suggests maintaining a "barbell strategy" for overall portfolio allocation, focusing on value dividends as a base while dynamically monitoring sectors like AI technology and non-ferrous metals [10]