关于召开2025年第三次临时股东会的通知 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 股票代码：601600 股票简称：中国铝业 公告编号：临2025-063 中国铝业股份有限公司 召开的日期时间：2025 年 12 月 22 日 14 点 00 分 召开地点：中国北京市海淀区西直门北大街 62 号中国铝业股份有限公司总部 办公楼会议室 （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会网络投票系统 网络投票起止时间：自2025 年 12 月 22 日 至2025 年 12 月 22 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 东会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通 过互联网投票平台的投票时间为股东会召开当日的 9:15-15:00。 股东会召开日期：2025年12月22日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 （一）股东会类型和届次：2025 ...

Market Overview - The market experienced a strong upward movement, with the Shanghai Composite Index rising nearly 1% and surpassing the 4000-point mark, while the Sci-Tech Innovation 50 Index increased by nearly 3% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.32 trillion yuan, an increase of 188 billion yuan compared to the previous trading day [1] - The market saw rapid rotation of hot sectors, with notable strength in the electric grid equipment sector, semiconductor sector, chemical sector, and electrolytic aluminum concept [1][10] Electric Grid Equipment Sector - The electric grid equipment sector continued its strong performance, with stocks like Moen Electric and China West Electric hitting the daily limit [1][25] - Moen Electric achieved a three-day limit increase, while other companies in the sector also saw significant gains [1][25] Semiconductor Sector - The semiconductor sector showed volatility but ultimately rose, with stocks like Demingli and Haiguang Information hitting the daily limit [1][7] - The sector is benefiting from increased demand for storage chips, with significant price increases expected for new products [21] Chemical Sector - The chemical sector experienced a broad rally, with stocks such as Batian Co., Qing Shui Yuan, and Chengxing Co. hitting the daily limit [3][15] - The rise in prices is attributed to a recovery in demand for downstream electrolytic liquid raw materials and production cuts in wet phosphoric acid plants [3][15] Electrolytic Aluminum Sector - The electrolytic aluminum sector was active, with China Aluminum hitting the daily limit and reaching a 15-year high [1][8] - Reports indicate a cumulative growth of 3.9% in electrolytic aluminum demand from January to September, exceeding market expectations [10][17] Individual Stock Performance - A total of 47 stocks hit the daily limit today, with a sealing rate of 71% and 11 stocks achieving consecutive limit increases [1] - Notable performers included Moen Electric, which achieved a three-day limit increase, and other companies like Huaneng Power and Shun Sodium Co. also saw significant gains [1][12] Future Outlook - The International Energy Agency predicts that global annual investment in electric grids will increase to $500 billion from 2023 to 2030, with a compound annual growth rate of 12.6% [2] - UBS has raised its forecast for China's electricity demand growth from 2028 to 2030, indicating strong future demand in the energy sector [2]

南财智讯11月6日电，中国铝业公告，公司于2025年11月6日召开第九届董事会第六次会议，选举何文建 为董事长，任期自获董事会选举通过之日起至第九届董事会任期届满之日止。 ...

中国铝业公告称，2025年11月6日召开的第九届董事会第六次会议选举何文建为公司第九届董事会董事 长，法定代表人将相应变更为何文建。同日，何文建因工作需要辞去公司总经理职务，仍担任董事长等 职。经会议审议通过，同意聘任张瑞忠为公司总经理，即日生效。截至公告披露日，张瑞忠持有公司 147,100股A股股份。张瑞忠在有色金属冶炼等方面经验丰富，目前还担任包头铝业董事长、包铝集团董 事长。 ...

（责任编辑：康博） 中国经济网北京11月6日讯 中国铝业(SH:601600)今日股价涨停，截至收盘报24.11元，涨幅 10.03%。 ...

Group 1 - Goldman Sachs has raised GDP growth expectations for China and India due to manufacturing and export growth [1] - The report expresses a more favorable outlook for the technology, materials, insurance, and industrial sectors this month [1] - Ratings for the energy sector and other industries have been downgraded [1] Group 2 - Goldman Sachs has released a new list of buy-rated stocks in the Hong Kong market, including AIA (01299.HK), Techtronic Industries (00669.HK), China Pacific Insurance (02328.HK), and Lenovo Group (00992.HK) among others [2] - The list features a total of 25 companies, indicating a diverse range of sectors and investment opportunities [2][3]

Group 1 - Goldman Sachs has raised GDP growth expectations for China and India due to manufacturing and export growth [1] - The report expresses a positive outlook for the technology, materials, insurance, and industrial sectors this month [1] - Ratings for the real estate and energy sectors have been downgraded [1] Group 2 - A list of recommended stocks for investment in the Hong Kong market includes: AIA (01299.HK), Xiaomi-W (01810.HK), Hong Kong Exchanges (00388.HK), Ping An (02318.HK), Zijin Mining (02899.HK), Techtronic Industries (00669.HK), China Pacific Insurance (02328.HK), China Life Insurance (02601.HK), Lenovo Group (00992.HK), Luoyang Molybdenum (03993.HK), Hua Hong Semiconductor (01347.HK), Zhaojin Mining (01818.HK), Chalco (02600.HK), Weichai Power (02338.HK), CICC (03908.HK), Jiangxi Copper (00358.HK), AAC Technologies (02018.HK), Conch Cement (00914.HK), BYD Electronics (00285.HK), Minmetals Resources (01208.HK), CRRC (01766.HK), JD Logistics (02618.HK), Swire Properties A (00019.HK), China National Building Material (03323.HK), and Times Electric (03898.HK) [1]

Core Insights - The Simandou iron ore project in Guinea is set to commence production, which has led to speculation about its potential to disrupt the market, although the real challenge lies in the industrial capacity to process the ore into steel rather than the availability of the ore itself [1][9] Group 1: Project Overview - The Simandou project boasts an exceptionally high iron content of over 65%, making it one of the top-quality iron ore sources globally [3] - The project has a long and complicated development history, having been discovered by Rio Tinto in 1998, but it is only now being advanced thanks to Chinese infrastructure capabilities [3][5] - Chinese companies now hold the majority stake in the Simandou project, with China Aluminum (Chinalco) being the largest shareholder of Rio Tinto, highlighting a significant shift in ownership dynamics [3] Group 2: Strategic Implications - The first batch of 2 million tons of ore is expected to be shipped by the end of the year, with future production capacity projected to reach 120 million tons, equivalent to 5% of global output [5] - This project enhances China's negotiating power in iron ore pricing discussions with Australia and Brazil, allowing for strategic leverage in future contracts [5][7] - The anticipated decline in iron ore prices to around $85 per ton over the next three years could significantly impact the profitability of major mining companies [7] Group 3: Industry Dynamics - The control of high-quality ore by China, combined with its status as the largest steel producer, is expected to shift pricing power in the iron ore market [7][9] - The long-term strategy of the Simandou project suggests that as the ore is depleted, a new pricing system led by China will likely be established, reflecting a broader shift in market dynamics [7][9] - The modern industrial landscape emphasizes the importance of processing capabilities over mere resource ownership, indicating a fundamental change in how wealth is generated in the 21st century [9]

Core Viewpoint - The non-ferrous metal sector, particularly the aluminum industry, is experiencing a strong upward trend, with significant stock performance and expectations of a supply shortage by 2026 due to rising demand and limited production capacity [1] Group 1: Market Performance - On June 6, aluminum stocks such as China Aluminum, Minfa Aluminum, Shenzhen New Star, Chang Aluminum, and Nanshan Aluminum reached their daily limit, while Yun Aluminum shares rose nearly 9% [1] - The current aluminum price is on the rise, with the electrolytic aluminum industry's gross profit reaching 5,538 yuan per ton, a month-on-month increase of 3.35% [1] Group 2: Supply and Demand Dynamics - The market anticipates a 2.5% growth in domestic electrolytic aluminum consumption in 2025, driven by better-than-expected performance in new energy vehicles and photovoltaic sectors, which has widened the supply-demand gap [1] - Domestic electrolytic aluminum production capacity is nearing its limit, while demand continues to grow steadily, suggesting a potential shortage in electrolytic aluminum next year and an upward trend in aluminum prices [1] Group 3: Industry Insights - CITIC Construction Investment Securities noted that the ignition of a 250,000-ton electrolytic aluminum project in Indonesia on September 20 by Xinfeng temporarily alleviated the 2026 supply gap, putting pressure on aluminum prices below 21,000 yuan [1] - However, issues such as equipment failures at Century Aluminum affecting 200,000 tons of capacity and the expiration of a power contract at South32's Mozambique aluminum plant affecting 500,000 tons have revealed the fragility of the high operating rate in the electrolytic aluminum industry, potentially opening up space for prices above 21,000 yuan [1] - The low price-to-earnings (PE) ratio in the electrolytic aluminum sector presents a balanced opportunity for both safety and aggressive investment [1]

Group 1: Base Metals Sector Performance - The A-share market's basic metals sector showed strong performance, with companies like China Aluminum, Minfa Aluminum, and Haomei New Materials hitting the daily limit up [1] - Other notable performers included Yun Aluminum and Jiaozuo Wanfang, which rose over 8%, while Shenhuo Co. increased by over 7% [1] - The overall trend indicates a robust interest in the aluminum sector, driven by various market dynamics [1] Group 2: Copper Market Insights - CITIC Securities reported a nearly 5% year-on-year decline in production from major global copper mining companies in Q3, with expectations for continued contraction in Q4 [1] - A shortage of raw materials and potential "anti-involution" factors are likely to contribute to a reduction in domestic refined copper supply, alongside stable demand [1] - The anticipated low supply and steady demand could widen the global refined copper supply gap by 50% next year, with LME copper prices expected to exceed $10,000 per ton [1] Group 3: Aluminum Market Outlook - CITIC Jiantou forecasts a 2.5% growth in domestic electrolytic aluminum consumption by 2025, supported by strong performance in the new energy vehicle and photovoltaic sectors [1] - The consumption state of electrolytic aluminum is better than expected, leading to an expanded supply-demand gap [1] - The profitability of the electrolytic aluminum industry is expected to continue rising, enhancing the dividend capacity of aluminum companies [1] Group 4: Precious Metals Market Analysis - Dongwu Securities noted that despite hawkish signals from the Federal Reserve and a pullback in precious metal prices due to improved geopolitical trade relations, the macro framework remains favorable for bullish positions [2] - There is a significant probability of interest rate cuts in December, suggesting a continued positive outlook for precious metals in the medium term [2]