证券代码：600219 证券简称：南山铝业 公告编号：2025-037 山东南山铝业股份有限公司对外投资公告 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： 投资金额：本项目总投资约 186,777.35 万元人民币 相关风险提示：本项目符合当地产业规划及行业政策，但尚需通过印尼有 权主管机关项目环评、建设许可等审批程序，如因国家或地方政策调整，项目审 批实施条件发生变化，项目可能存在顺延、变更、中止或终止的风险。 一、对外投资概述 （一）项目基本情况 山东南山铝业股份有限公司（以下简称"公司"或"南山铝业"）基于有效 服务同一工业园区氧化铝项目，构建完整产业链条，同时深化国际产能合作，增 强公司的盈利能力，提高公司抗风险能力，在符合相关法律法规基础上拟通过境 外全资公司 Huaton Hong Kong Investment Limited（简称"HHKIL"）与非关 联公司 Glory Light Global Investment Limited（简称"GLGIL"）共同在 BVI 设立路径公司 Huat ...

证券代码：600219 证券简称：南山铝业 公告编号：2025-036 山东南山铝业股份有限公司 第十一届董事会第十九次会议决议公告 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。 山东南山铝业股份有限公司（以下简称"公司"或"本公司"）第十一届董事会第十 九次会议于 2025 年 6 月 5 日上午 10 时以现场和通讯相结合的方式召开，公司于 2025 年 5 月 25 日以书面、传真和邮件方式通知了各位参会人员。会议应到董事 9 名，实到董事 9 名，其中，独立董事 3 名，公司监事和高级管理人员列席了会议。会议的召开符合《公司 法》和《公司章程》的有关规定，会议决议合法有效。会议由董事长吕正风先生主持，经 审议表决通过了以下议案： 审议通过了《关于山东南山铝业股份有限公司对外投资公告的议案》 为有效服务同一工业园区氧化铝项目，构建完整产业链条，同时深化国际产能合作， 增强盈利能力，提高抗风险能力， 公司在符合相关法律法规基础上拟通过境外全资公司 Huaton Hong Kong Investment Limited（简 ...

Core Viewpoint - Nanshan Aluminum plans to establish a joint venture, PT Bintan Fine Chem Indonesia, in partnership with others to invest in a project for producing 200,000 tons of caustic soda and 165,000 tons of epichlorohydrin annually, with a total investment of approximately 1.868 billion RMB [1] Group 1: Project Details - The project aims to serve the alumina project within the same industrial park, enhancing the company's international capacity cooperation [1] - The registered capital of PT BFCI is 20 million USD, with Nanshan Aluminum holding an indirect stake of 48.45% [1] Group 2: Regulatory Considerations - The project is subject to environmental assessments and construction permit approvals from Indonesian authorities, which may involve risks of delays, changes, suspension, or termination [1]

具体详见公司于 2024 年 12 月 12 日和 2025 年 1 月 7 日在上海证券交易所网 证券代码：600219 证券简称：南山铝业 公告编号：2025-035 山东南山铝业股份有限公司 关于以集中竞价交易方式回购股份的进展公告 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： | 回购方案首次披露日 | 2024/12/12 | | --- | --- | | 回购方案实施期限 | 待股东大会审议通过后 12 个月 | | 预计回购金额 | 300,000,000元~600,000,000元 | | 回购用途 | √减少注册资本 □用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 38,410,200股 | | 累计已回购股数占总股本比例 | 0.33% | | 累计已回购金额 | 143,626,756元 | | 实际回购价格区间 | 3.24元/股~4.08元/股 | 一、回购股份的基本情况 山东南山铝业股份有限公司（ ...

Investment Rating - The report maintains a "Buy" recommendation for the aluminum sector, indicating a positive outlook due to ongoing inventory depletion and price support for aluminum [1]. Core Viewpoints - The report highlights that domestic aluminum inventories continue to decrease, providing stable support for aluminum prices around 20,000 yuan per ton. The market is transitioning from peak to off-peak consumption, with current inventory levels being among the lowest in three years [8][9]. - The copper sector is also viewed positively, with recommendations for specific companies such as Zijin Mining, Jincheng Mining, and Western Mining, as global copper supply remains tight [2][9]. Industry Data Summary Aluminum Industry - As of May 29, domestic aluminum ingot inventory stands at 511,000 tons, down by 23,000 tons from the previous week, indicating a significant reduction in stock levels [8]. - The report notes that the aluminum rod inventory has also decreased, albeit at a slower pace, with current levels around 128,300 tons, which is still low compared to historical data [8]. Copper Industry - The report mentions that as of the latest data, the Shanghai Futures Exchange (SHFE) copper inventory is 105,800 tons, reflecting a week-on-week increase of 7,120 tons, while the London Metal Exchange (LME) copper inventory decreased by 16,650 tons to 149,900 tons [2][9]. - The global visible copper inventory is reported at 472,000 tons, down by 12,656 tons from the previous week, indicating a tightening supply situation [2]. Tungsten and Rare Metals - The report indicates that tungsten prices continue to rise due to supply constraints, with domestic tungsten concentrate prices at 169,500 yuan per ton and APT prices at 248,000 yuan per ton [9]. - The report recommends focusing on companies benefiting from tungsten price elasticity and those involved in the strategic reassessment of rare metals [9].

Group 1 - The company is establishing a wholly-owned subsidiary, Longkou Nanshan New Energy Co., Ltd., with an investment of 5 million RMB to develop photovoltaic energy using idle spaces like parking sheds [2][3]. - The investment aligns with the national "dual carbon" strategy, aiming to optimize energy supply structure and reduce carbon emissions, thereby enhancing the company's green image and market competitiveness [8][9]. - The subsidiary's registered capital is 5 million RMB, and the company holds 100% ownership, with operations focused on power generation, transmission, and solar energy services [6][7]. Group 2 - The establishment of the subsidiary does not constitute a related party transaction or a significant asset restructuring as per regulatory definitions [5]. - The investment is expected to have a positive impact on the company's long-term development and operational efficiency without adversely affecting its financial status [9]. - The management team for the new subsidiary includes Wang Bing as the legal representative and other key personnel responsible for various functions [6].

Group 1 - Hongjing Technology signed a service contract for an intelligent computing project with a total amount of 597 million yuan, valid for 5 years [1] - Weifu High-Tech's subsidiary invested 220 million yuan to establish a joint venture with Shanghai Baolong Automotive Technology [2] - Zhongshan Public received approval for the registration of short-term financing bonds amounting to 2 billion yuan and medium-term notes of 3 billion yuan [3] Group 2 - Lianhua Technology established a venture capital fund with a total commitment of 200 million yuan, contributing 100 million yuan as a limited partner [4] - Changan Technology's shareholder signed an agreement to transfer 6.27% of the company's shares to Hefei State Capital Venture Investment [6] - Hangzhou Garden announced a cash dividend of 0.5 yuan per 10 shares, totaling 6.62 million yuan [8] Group 3 - Huamao Technology plans to acquire 100% equity of Fuchuang Youyue, leading to a temporary suspension of its stock [9] - Zhuojin Co. won a bid for a soil remediation project in Hefei with a contract value of 67.68 million yuan [10] - Shanghai Pharmaceuticals received FDA approval for two drugs, enhancing its product portfolio [10] Group 4 - Fuxing Pharmaceutical's senior vice president resigned for personal reasons [12] - Baolong Technology's subsidiary plans to invest 180 million yuan in a joint venture [13] - ST Zhongdi intends to utilize surplus funds from a project company, with a maximum of 106 million yuan [14] Group 5 - Nanchao Food reported a significant decline in net profit for April, down 82.14% year-on-year [16] - Changshan Pharmaceutical received a drug registration certificate in Belarus for a new product [18] - Nanshan Aluminum established a wholly-owned subsidiary for photovoltaic energy projects with an investment of 5 million yuan [20] Group 6 - Bozhong Precision announced the resignation of a director and deputy general manager [22] - Xinjiang Jiaojian won a bid for a highway construction project valued at 451 million yuan [23] - Guangzhou Restaurant declared a cash dividend of 0.48 yuan per share, totaling 273 million yuan [25] Group 7 - Weili Medical's subsidiary obtained a medical device operating license, allowing it to engage in wholesale activities [27] - New Australia Co. announced a cash dividend of 0.3 yuan per share, totaling 219 million yuan [28] - Lianhua Technology's subsidiary entered the new third board innovation layer [29] Group 8 - Huaxi Energy's chairman resigned due to personal reasons [31] - Yipin Hong plans to use up to 500 million yuan of idle funds for cash management [33] - Shouhua Gas intends to purchase bauxite resources through market means [34] Group 9 - Jincheng signed a service agreement for underground mining operations at the Komakau Copper Mine, valued at approximately 805 million USD [34] - Wanrun New Energy signed a supply contract with CATL for lithium iron phosphate products, with a total supply of about 1.32 million tons [35] - Weili plans to transfer 100% equity of a subsidiary to Chengfa Environment for 100 million yuan [36] Group 10 - Zhenlei Technology's subsidiary received government subsidies of 2.21 million yuan, positively impacting profits [38] - Weir shares plan to change their name to "Haowei Group" to reflect strategic direction [39] - YTO Express reported a revenue increase of 16.32% in April, totaling 5.755 billion yuan [39]

Core Viewpoint - Nanshan Aluminum has established a wholly-owned subsidiary, Longkou Nanshan New Energy Co., Ltd., with an investment of 5 million yuan to develop photovoltaic energy, aligning with the national "dual carbon" goals [1] Group 1: Company Developments - Nanshan Aluminum has formed a complete aluminum processing industry chain, including power generation, alumina, electrolytic aluminum, casting, and recycling [1] - The company reported a revenue of 33.477 billion yuan in 2024, a 16.06% increase year-on-year, with a net profit of 5.956 billion yuan, up 48.81% from the previous year [1] Group 2: Industry Trends - In 2024, domestic alumina prices rose significantly, averaging around 3,994 yuan per ton, a 38% increase year-on-year, driven by tight supply and high demand [2] - The average price of primary aluminum in 2024 was approximately 19,900 yuan per ton, reflecting a 7% year-on-year increase, despite fluctuations due to macroeconomic factors [2] Group 3: Strategic Implications - The establishment of the new subsidiary is expected to enhance the company's green image and competitiveness in the market for low-carbon products, supporting its long-term development and operational efficiency [3] - This investment aligns with the company's strategic planning and will not adversely affect its financial status or operations, ensuring the interests of the company and its shareholders are protected [3]

投资标的名称：龙口南山新能源有限公司 证券代码：600219 证券简称：南山铝业 公告编号：2025-034 山东南山铝业股份有限公司 关于设立全资子公司的公告 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： 2、董事会审议和表决情况 根据公司章程规定，本次设立全资子公司事宜由公司董事长审批，无须提交 公司董事会及股东大会审议。 3、本次投资不构成关联交易，也不构成《上市公司重大资产重组管理办法》 规定的重大资产重组。 二、投资标的基本情况 1、公司名称：龙口南山新能源有限公司 2、注册地址：山东省烟台市龙口市徐福街道东海热电厂 投资金额：以自有资金人民币 500 万元出资设立 相关风险提示：本次公司设立的全资子公司在经营过程中存在受宏观经济、 行业环境、市场变化等因素导致经营业绩不达预期的风险。敬请广大投资者注意 投资风险，谨慎投资。 一、对外投资概述 1、本次对外投资基本情况 为响应国家双碳目标，公司以自有资金人民币 500 万元出资设立全资子公司 龙口南山新能源有限公司，利用停车棚及地面等闲置空间建设光伏 ...

Summary of Key Points Core Viewpoint - The aviation engine industry in China is primarily dominated by a few key players, with a significant focus on innovation, research and development, and market expansion to enhance their competitive edge in both military and civilian sectors [1][18]. Group 1: Industry Overview - The aviation engine manufacturing segment includes four main types: turbojet, turbofan, turboshaft, and turboprop engines, largely monopolized by the China Aviation Engine Group [1]. - Key companies in the industry include Aviation Power (航发动力), Aviation Technology (航发科技), and Aviation Control (航发控制), among others [1][3]. Group 2: Company Performance - Aviation Power reported a revenue of 449.94 billion yuan in 2024, leading the industry in terms of revenue [16]. - The average gross margin for listed companies in the aviation engine sector is around 25%, with individual margins ranging from 10% to 35% [16]. - Aviation Control achieved a gross margin of 28.11% in 2024, reflecting its strong technological innovation capabilities [16]. Group 3: Business Layout and Market Position - Aviation Power and Aviation Technology have over 50% of their business focused on aviation engines, indicating a strong commitment to this sector [13]. - The regional distribution of companies shows that titanium alloy leaders are mainly located in Shaanxi, while other material representatives are concentrated in the East China region [5]. Group 4: Future Business Plans - Companies are focusing on innovation and R&D investments to expand their aviation engine business, with plans to enhance their capabilities in high-temperature alloy components and precision casting [19]. - Aviation Technology aims to participate in the development of the C919 aircraft's engines and expand its international subcontracting business [19]. Group 5: Key Financial Metrics - The largest revenue-generating company in the aluminum and high-strength steel sector is China Aluminum, with a revenue of 2370.66 billion yuan [4]. - The revenue of Aviation Power in the aviation engine sector is projected to exceed 400 billion yuan in 2024, highlighting its market leadership [4]. Group 6: Patent and Employee Information - China Aluminum and Aviation Power hold over 1000 patents, indicating a strong focus on innovation [8]. - Southern Airlines has the largest employee count among listed companies, exceeding 100,000 [8].