Core Points - Nanshan Aluminum announced an adjustment to the conversion price of its exchangeable bonds due to changes in the stock price resulting from various corporate actions [1] - The new conversion price for the exchangeable bonds will be set at 3.36 yuan per share starting from September 25, 2025 [1] - Nanshan Group holds 2,404,403,647 A-shares, representing 20.70% of the company's total issued share capital, excluding shares held by concerted parties [1]

公司控股股东南山集团于2023年4月21日完成了本期可交换债券的发行工作。本 期可交换公司债券（品种一）简称为23南01EB。23南01EB的发行规模为8.8333亿元， 债券期限为3年，标的股票为南山集团有限公司持有的部分本公司A股股票，债券代 码为"137175"。 证券代码：600219 证券简称：南山铝业 公告编号：2025-056 山东南山铝业股份有限公司 关于控股股东非公开发行可交换公司债券 调整换股价格的提示性公告 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。 近日，山东南山铝业股份有限公司（以下简称"公司"）收到控股股东南山集团 有限公司（以下简称"南山集团"）的通知，南山集团2023年面向专业投资者非公开 发行可交换公司债券（第一期）（以下简称"本期可交换债券"）换股价格将进行调 整，现将有关事项公告如下： 一、控股股东可交换公司债券的基本情况 公司将密切关注本期可交换债券的进展情况，并根据相关规定持续履行信息披露 义务，敬请广大投资者注意投资风险。 特此公告。 二、控股股东可交换公司债券本次换股价格调整情 ...

Group 1 - The core point of the article is that Shandong Nanshan Aluminum Co., Ltd. announced an adjustment to the conversion price of its first phase of exchangeable corporate bonds due to a profit distribution in 2025 [1] - The "Nanshan 01EB" bonds have an issuance scale of 883.33 million yuan and a term of 3 years, with the conversion period lasting until April 21, 2026 [1] - As of the announcement date, Nanshan Group holds 2,404,403,647 A-shares of the company, accounting for 20.70% of the total shares [1] Group 2 - The conversion price of the "Nanshan 01EB" bonds will be adjusted to 3.36 yuan per share starting from a certain time in 2025, as per the agreement [1] - The company will continue to disclose updates regarding this matter and reminds investors to pay attention to risks [1]

Core Insights - A Chinese aluminum alloy technology company has successfully broken through the stringent manufacturing standards traditionally dominated by Japanese and German firms, showcasing a shift in China's manufacturing from "scale-oriented" to "standard-oriented" [1] Group 1: Manufacturing Standards - International giants set the highest manufacturing standards in the consumer electronics sector, requiring aluminum suppliers to meet strict environmental, precision, and efficiency criteria [2] - Environmental requirements include extremely low levels of heavy metals in wastewater and VOC emissions that exceed international standards [2] - Precision standards demand high consistency and reliability in strength, hardness, toughness, and anodizing effects [2] - Efficiency standards emphasize large-scale production while maintaining high environmental and precision standards, necessitating a complete restructuring of the manufacturing system [2] Group 2: Smart Manufacturing Systems - The company's breakthrough is attributed to strategic investments in smart manufacturing systems, deploying automated control systems and industrial internet platforms for data-driven management and real-time optimization [3] - AI algorithms are used to dynamically adjust current efficiency in key processes, significantly improving energy efficiency and reducing losses [3] - The overall operational efficiency has reached internationally advanced levels, showcasing the comprehensive benefits of smart manufacturing [3] Group 3: New Competitive Logic in Chinese Manufacturing - The company's practices reflect the transformation direction of Chinese manufacturing, focusing on increasing R&D investment with 721 patents, including 68 invention patents [4] - The company has contributed to national standards and has gained certification for automotive aluminum products from German automakers, entering the supply chains of brands like Porsche and BMW [4] - By standardizing processes, the company has achieved a transition from product output to technology output [4] Group 4: Redefining Chinese Manufacturing - In the context of global industrial upgrades, the definition of manufacturing is being restructured, with the company demonstrating new connotations of Chinese manufacturing [5] - Investments in over a billion yuan for solar power systems have resulted in a reduction of approximately 31,448.17 tons of carbon emissions annually [5] - The establishment of an industrial design center combines material science with aesthetic design, leading to the development of new alloy materials with a jade-like texture [5] - Companies like this are redefining China's role in the global value chain from "OEM assembly" to "standard-setting," proving that integrating smart manufacturing with process innovation is essential for gaining a voice in high-end manufacturing [5]

Summary of Key Points Core Viewpoint - Nanshan Aluminum experienced a block trade on September 24, with a transaction volume of 300,000 shares at a price of 3.66 yuan, representing a discount of 4.69% compared to the closing price of 3.84 yuan on the same day [2][3]. Trading Activity - The block trade involved a total transaction amount of 1.098 million yuan [2]. - The buyer was Ping An Securities Co., Ltd., while the seller was China Galaxy Securities Co., Ltd. [2]. - The stock closed at 3.84 yuan, showing an increase of 0.52% for the day, with a turnover rate of 0.96% and a total trading volume of 426 million yuan [2]. Recent Performance - Over the past five days, Nanshan Aluminum's stock has declined by 3.52%, with a total net outflow of funds amounting to 65.45 million yuan [2]. - The latest margin financing balance for the stock is 1.542 billion yuan, reflecting a decrease of 36.21 million yuan, or 2.29%, over the last five days [3]. Company Background - Shandong Nanshan Aluminum Co., Ltd. was established on March 18, 1993, with a registered capital of 11.61367 billion yuan [3].

Group 1 - On September 24, Nanshan Aluminum conducted a block trade of 300,000 shares, with a transaction amount of 1.098 million yuan, accounting for 0.26% of the total transaction amount for the day [1] - The transaction price was 3.66 yuan, which represents a discount of 4.69% compared to the market closing price of 3.84 yuan [1]

Group 1 - Nanshan Aluminum International (02610.HK) experienced a decline of over 5% on September 23, with a drop of 5.39% to HKD 39.66 [2] - The trading volume for Nanshan Aluminum International reached HKD 25.5489 million [2]

Core Viewpoint - Nanshan Aluminum International (02610) experienced a decline of over 5%, reaching a low of 39.32 HKD, marking a new low in over a month [1] Company Summary - As of the latest update, Nanshan Aluminum International's stock price fell by 5.39% to 39.66 HKD, with a trading volume of 25.55 million HKD [1] - The company is set to face a lock-up expiration on September 25, with a total of 35.1363 million shares being unlocked [1] - Key cornerstone investors, including Glencore International AG and others, have a lock-up commitment that ends on September 24, 2025 [1] Market Activity - On September 18, shareholders of Nanshan Aluminum International deposited shares into Huatai Hong Kong, with a market value of 9.32 billion HKD, representing 37.36% of the total [1]

Core Viewpoint - Nanshan Aluminum International (600219) experienced a decline of over 5%, reaching a low of 39.32 HKD, marking a new low in over a month [1] Group 1: Stock Performance - As of the report, Nanshan Aluminum International's stock was down 5.39%, trading at 39.66 HKD with a transaction volume of 25.55 million HKD [1] Group 2: Unlocking of Shares - On September 25, 2023, Nanshan Aluminum International will face a share unlocking event, with a total of 35.1363 million shares set to be released from lock-up [1] - The lock-up period for cornerstone investors, including Glencore International AG and others, will end on September 24, 2025 [1] Group 3: Shareholding Information - As of September 18, 2023, shareholders of Nanshan Aluminum International deposited shares worth 9.32 billion HKD into Huatai Hong Kong, representing 37.36% of the total shareholding [1]

Core Viewpoint - Nanshan Aluminum's stock has experienced a decline, with a current price of 3.80 CNY per share and a market capitalization of 44.132 billion CNY, reflecting a challenging market environment for the company [1]. Financial Performance - For the first half of 2025, Nanshan Aluminum reported a revenue of 17.274 billion CNY, representing a year-on-year growth of 10.25%, and a net profit attributable to shareholders of 2.625 billion CNY, which is a 19.95% increase compared to the previous year [2]. - Cumulative cash dividends since the company's A-share listing amount to 10.027 billion CNY, with 4.306 billion CNY distributed over the last three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders for Nanshan Aluminum is 165,500, a decrease of 7.76% from the previous period, while the average number of circulating shares per person increased by 8.41% to 70,175 shares [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 749 million shares, an increase of 10.976 million shares from the previous period [3].