截至2024年12月31日止年度的年度業績 本公告乃由南山鋁業國際控股有限公司（「本公司」）根據香港聯合交易所有限 公司（「聯交所」）證券上市規則（「上市規則」）第13.49(1)條註釋刊發。 本公司股東及有意投資者謹請注意，截至2024年12月31日止年度的初步業 績（誠 如 上 市 規 則 第 13.49(1)條 所 規 定）已 載 入 本 公 司 日 期 為 2025 年 3 月 17 日 的招股章程附錄二B，可於聯交所網站( www.hkexnews.hk )及本公司網站 ( www.nanshanintl.com )查閱。 承董事會命 南山鋁業國際控股有限公司 董事會主席 郝維松 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，並明確表示概不就因本公告全部或任何部分內容而產生或因 依賴該等內容而引致的任何損失承擔任何責任。 Nanshan Aluminium International Holdings Limited 南山鋁業國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2610） 香港，2025年3月31日 於本公告 ...

Investment Rating - The investment rating for the company is 5.1 out of 10, based on operational performance, industry outlook, valuation, and market sentiment [9][11]. Core Insights - The company, Nanshan Aluminum International, is a major alumina manufacturer in Southeast Asia, holding a market share of 34.9% in the region. It has a designed production capacity of 2 million tons of alumina and is expanding its capacity with new projects expected to start operations in 2025 and 2026 [1][2]. - The company's revenue has shown rapid growth, with a CAGR of 98% from 2021 to 2023, and gross margins have improved significantly due to rising alumina prices [2]. - The global aluminum market is projected to grow, particularly in the construction, transportation, electrical, and packaging sectors, with Southeast Asia expected to see strong growth rates [3]. Company Overview - Nanshan Aluminum International is one of the top three alumina producers in Southeast Asia, with its largest customer being Press Metal Group, accounting for over 50% of its revenue [1]. - The company is controlled by Nanshan Aluminum, a publicly listed company in A-shares, which will hold a 60.09% stake post-IPO [1]. Financial Performance - The company's revenues for the years 2021, 2022, 2023, and the first nine months of 2024 were $172.8 million, $466.8 million, $677.8 million, and $683.0 million, respectively. The gross margins for these periods were 25.9%, 24%, 29.2%, and 46.3% [2]. Industry Status and Outlook - The alumina market in Southeast Asia is expected to grow, with design capacities projected to increase from 5.6 million tons in 2023 to 8.6 million tons by 2028, reflecting a CAGR of 6.8% [3]. - The demand for aluminum is anticipated to rise in various sectors, with the construction industry in Southeast Asia expected to grow at a CAGR of 7.7% from 2023 to 2028 [3]. Advantages and Opportunities - The company benefits from a strong position in the alumina industry, stable raw material supply, and robust policy support, which enhance operational efficiency and profitability [4]. - The company adheres to international ESG governance standards, promoting sustainable development [4]. Use of Proceeds - Approximately 90% of the net proceeds from the IPO will be used for the development and construction of alumina production projects in Indonesia, aiming to expand total alumina capacity to 4 million tons [6].

新股預覽 ─ 南山鋁業（2610.HK） 金屬製造行業 2025 年 03 月 17 日 背景 公司是東南亞三大氧化鋁生產企業之一：根據弗若斯特沙利文的資 料，截至 2023 年底，東南亞主要的氧化鋁生產國為印尼和越南，公司 是東南亞三大氧化鋁生產企業之一。二期氧化鋁生產項目的完成使公 司的氧化鋁設計年產能達到兩百萬噸，根據弗若斯特沙利文的資料， 按於 2023 年的設計年產能計，這使該集團在印尼及東南亞排名首位。 於 2023 年，根據弗若斯特沙利文的資料，該集團為東南亞氧化鋁市場 的第二大生產商，且按實際產量計，佔東南亞氧化鋁行業 34.9%的市 場份額。上述成就亦證明了公司的技術實力、卓越運營和發展承諾。 公司持續擴大產能：於 2024 年上半年，公司已啟動建設新氧化鋁生產 項目新增氧化鋁生產設施，其氧化鋁設計年產能為兩百萬噸。公司的 冶金級氧化鋁是生產電解鋁的重要原材料。根據弗若斯特沙利文的資 料，由於其在滿足高性能鋁產品的嚴格要求方面發揮著關鍵作用，因 此在東南亞市場上需求強勁。公司的產品質量超過 GB/T 24487-2022 標準的 AO-1 級，其卓越的化學成分證明了這一點。 行業仍具發展潛力 ...