公司代码：600595 公司简称：中孚实业 河南中孚实业股份有限公司 2024 年度内部控制评价报告 河南中孚实业股份有限公司全体股东： 根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要求（以下简称"企业内 部控制规范体系"），结合本公司（以下简称"公司"）内部控制制度和评价办法，在内部控制日常监督 和专项监督的基础上，我们对公司2024年12月31日（内部控制评价报告基准日）的内部控制有效性进行 了评价。 一. 重要声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其有效性，并如实披露内 部控制评价报告是公司董事会的责任。监事会对董事会建立和实施内部控制进行监督。经理层负责组织 领导企业内部控制的日常运行。公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存 在任何虚假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担个别及连带法 律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及相关信息真实完整，提 高经营效率和效果，促进实现发展战略。由于内部控制存在的固有局限性，故仅能为实现上述目标提供 合理保证。此外，由于情况 ...

河南中孚实业股份有限公司 对北京兴华会计师事务所（特殊普通合伙） 履职情况的评估报告 河南中孚实业股份有限公司（以下简称"公司"）聘请北京兴华会计师事务 所（特殊普通合伙）（以下简称"北京兴华"）作为公司 2024 年度财务审计机构 和内控审计机构。根据《国有企业、上市公司选聘会计师事务所管理办法》《关 于上市公司做好选聘会计师事务所工作的提醒》等有关规定，公司对北京兴华在 审计工作中的履职情况进行了评估。经评估，公司认为北京兴华资质等方面合规 有效，履职保持独立性，勤勉尽责，公允表达意见，具体情况如下： 一、 资质条件 北京兴华于 1992 年成立，1995 年取得证券期货相关业务审计资格，2013 年改制为特殊普通合伙企业。北京兴华注册地址为北京，首席合伙人为张恩军先 生。北京兴华长期从事证券服务业务，《中华人民共和国证券法》（2020 年修订） 实施前具有证券、期货业务许可证。经过 30 余年的发展，北京兴华已经发展成 为除北京总部外，在全国设有 29 家分所的国内大型事务所。现拥有员工 2000 余名，其中：合伙人 95 名、注册会计师 453 名，从事过证券服务业务的注册会 计师 185 人。北京兴 ...

证券代码：600595 证券简称：中孚实业 公告编号：2025-022 河南中孚实业股份有限公司 关于召开 2024 年年度股东大会的通知 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： 股东大会召开日期：2025年5月7日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 一、召开会议的基本情况 (一) 股东大会类型和届次 2024 年年度股东大会 (二) 股东大会召集人：董事会 (三) 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (四) 现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 7 日 14 点 00 分 召开地点：公司会议室 (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大会网络投票系统 网络投票起止时间：自 2025 年 5 月 7 日 至 2025 年 5 月 7 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 东大会召开当日的交易时间段，即 9:15-9:25，9:3 ...

二、监事会会议审议情况 证券代码：600595 证券简称：中孚实业 公告编号：临 2025-023 河南中孚实业股份有限公司 第十一届监事会第五次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 河南中孚实业股份有限公司（以下简称"公司"或"中孚实业"）第十一届监事 会第五次会议于2025年4月15日以现场方式召开。本次会议由监事会主席杨新旭 先生主持，应到监事3名，实到3名。会议的召开和表决符合《中华人民共和国公 司法》（以下简称《公司法》）和《河南中孚实业股份有限公司章程》（以下简 称《公司章程》）的有关规定。 （一）审议通过了《公司2024年年度报告及报告摘要》； 公司监事会认为：公司 2024 年年度报告及摘要的内容和格式符合中国证券 监督管理委员会和上海证券交易所的各项规定，报告的编制和审议程序符合相关 法律法规和《公司章程》的规定，所包含信息能从各方面真实地反映公司 2024 年度的经营成果和财务状况。监事会未发现参与 2024 年年度报告编制及审议的 人员有违反保密规定的行为。 ...

证券代码：600595 证券简称：中孚实业 公告编号：临 2025-016 河南中孚实业股份有限公司 第十一届董事会第五次会议决议公告 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。 一、董事会会议召开情况 河南中孚实业股份有限公司（以下简称"公司"或"中孚实业"）第十一届董事 会第五次会议于 2025 年 4 月 15 日以现场和通讯相结合的方式召开。本次会议由 董事长马文超先生主持，应到董事 9 名，实到 9 名。会议的召开和表决符合《中 华人民共和国公司法》和《河南中孚实业股份有限公司章程》（以下简称《公司 章程》）的有关规定。 二、董事会会议审议情况 （一）审议通过了《公司2024年年度报告及报告摘要》； 具体内容详见公司于 2025 年 4 月 16 日披露在上海证券交易所网站的《河南 中孚实业股份有限公司 2024 年年度报告》及披露在《中国证券报》《上海证券报》 和上海证券交易所网站的《河南中孚实业股份有限公司 2024 年年度报告摘要》。 本议案在提交董事会审议前已经公司第十一届董事会审计委员会第三次会 议和第 ...

证券代码：600595 证券简称：中孚实业 公告编号：临 2025-017 本次利润分配预案尚须提交公司股东大会审议。 2025 年 4 月 15 日，公司分别召开第十一届董事会第五次会议和第十一届监 事会第五次会议，审议通过了《关于公司 2024 年度利润分配预案的议案》，该 议案尚须提交公司股东大会审议。具体情况如下： 一、2024 年度利润分配预案内容 经北京兴华会计师事务所（特殊普通合伙）（以下简称"北京兴华"）审计， 公司 2024 年度合并报表实现归属母公司所有者净利润为 70,368.55 万元，母公司 实现净利润为 11,061.52 万元，母公司年初未分配利润-67,051.75 万元，2024 年 末未分配利润为-55,990.23 万元。 鉴于中孚实业母公司 2024 年末累计可供分配利润为负值，不满足利润分配 条件，因此公司 2024 年度利润分配预案为：不进行现金利润分配，同时也不进 行送股或公积金转增股本。 二、2024 年度不进行利润分配的原因 河南中孚实业股份有限公司 关于 2024 年度拟不进行利润分配的公告 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 ...

Financial Performance - The company's operating revenue for 2024 reached ¥22.76 billion, an increase of 21.12% compared to ¥18.79 billion in 2023[24]. - Net profit attributable to shareholders decreased by 39.30% to ¥703.69 million from ¥1.16 billion in the previous year[24]. - The net profit after deducting non-recurring gains and losses was ¥593.02 million, down 38.61% from ¥966.01 million in 2023[24]. - The net cash flow from operating activities was ¥1.40 billion, a decline of 29.41% compared to ¥1.99 billion in 2023[24]. - The total assets of the company at the end of 2024 were ¥24.12 billion, an increase of 4.34% from ¥23.11 billion at the end of 2023[24]. - The net assets attributable to shareholders increased by 6.87% to ¥14.62 billion from ¥13.68 billion in 2023[24]. - Basic earnings per share decreased by 37.93% to CNY 0.18 in 2024 compared to CNY 0.29 in 2023[25]. - The weighted average return on equity fell to 4.99% in 2024, down 3.99 percentage points from 8.98% in 2023[25]. - The net profit attributable to shareholders for the fourth quarter of 2024 was a loss of CNY 23.59 million, contrasting with profits in the previous quarters[27]. - The company reported a net cash flow from operating activities of CNY 625.52 million in the fourth quarter of 2024, showing a positive trend in cash generation[27]. Operational Highlights - The sales volume of aluminum deep processing products reached 640,300 tons in 2024, representing a year-on-year increase of 31.77%, with export sales of 416,100 tons, up 70.73%[35]. - The production volume of electrolytic aluminum was 408,800 tons, a decrease of 6.16% year-on-year, while the sales volume was 409,400 tons, down 5.93% year-on-year[59]. - The production volume of aluminum processing was 677,500 tons, an increase of 32.90% year-on-year, and the sales volume was 664,700 tons, up 32.36% year-on-year[59]. - The company achieved a total operating revenue of CNY 22,761.27 million in 2024, with a net profit attributable to the parent company of CNY 703.69 million[34]. Strategic Initiatives - The company is focusing on the development of "green and low-carbon" products, enhancing its market presence in response to global demand[34]. - The company is implementing energy-saving technology upgrades in its electrolytic aluminum business to mitigate the impact of rising raw material prices[37]. - The company aims to continue optimizing its procurement strategies to ensure stable operations in the electrolytic aluminum sector amid market fluctuations[37]. - The company is investing in a recycling project with an annual production capacity of 500,000 tons of aluminum, with the first phase producing 150,000 tons of UBC alloy aluminum liquid already in operation[49]. - The company aims to achieve a dual low-carbon layout of "green hydropower aluminum + recycled aluminum" in its aluminum sector[49]. Governance and Management - The company has established a sound corporate governance structure, ensuring independence from major shareholders and related parties[100]. - The board of directors held 11 meetings during the reporting period, ensuring compliance with governance regulations and maintaining shareholder interests[97]. - The company has established an independent financial accounting system, ensuring financial decisions are made autonomously without interference from controlling shareholders[99]. - The company has established a risk control framework for its hedging activities, including strict internal controls and professional personnel training[83]. Environmental and Social Responsibility - The company has invested 204.44 million yuan in environmental protection during the reporting period[136]. - The company has implemented measures to reduce carbon emissions by approximately 92,200 tons, including the use of distributed photovoltaic projects[153]. - Total investment in social responsibility projects amounted to CNY 18.61 million[155]. - Total investment in poverty alleviation and rural revitalization projects reached CNY 1.73 million, benefiting local organizations and disadvantaged households[155]. Future Outlook - The company plans to promote energy-saving and carbon-reduction transformations in the aluminum electrolysis industry, including the application of advanced energy-efficient technologies[88]. - By 2025, the company plans to enhance market competitiveness and achieve sustainable profit growth, centered on core business[91]. - The company is actively pursuing market expansion and new project investments to enhance its operational capabilities[117].

Financial Performance - The company's operating revenue for Q1 2025 was ¥5,021,367,993.85, a decrease of 3.10% compared to ¥5,182,180,353.54 in the same period last year[4] - Net profit attributable to shareholders increased significantly to ¥230,337,886.13, representing a 426.79% increase from ¥43,725,056.69 year-on-year[4] - The net profit after deducting non-recurring gains and losses reached ¥183,088,237.32, up 943.49% from ¥17,545,750.97 in the previous year[4] - The company's basic and diluted earnings per share both rose to ¥0.06, a 500.00% increase compared to ¥0.01 in the same period last year[4] - Operating profit for Q1 2025 increased significantly to CNY 261,432,394.58, compared to CNY 61,229,675.24 in Q1 2024[21] - Net profit for Q1 2025 was CNY 187,581,017.13, a substantial increase from CNY 38,872,330.88 in Q1 2024[22] - The company's operating profit for Q1 2025 was a loss of ¥28,794,647.59, compared to a profit of ¥57,867,620.78 in Q1 2024, highlighting a significant decline in operational performance[33] - The total comprehensive income for Q1 2025 was also a loss of ¥28,914,551.73, compared to a comprehensive income of ¥57,945,431.97 in Q1 2024, indicating a consistent trend in financial performance[34] Assets and Liabilities - Total assets at the end of the reporting period were ¥23,822,315,870.38, down 1.22% from ¥24,116,446,831.42 at the end of the previous year[5] - Non-current assets totaled CNY 17,128,054,220.40, a decrease from CNY 17,736,488,317.72 in the previous period[18] - Total liabilities amounted to CNY 7,948,280,257.58, slightly down from CNY 7,974,953,906.62[18] - The total assets as of March 31, 2025, amounted to 14,951,023,428.51 RMB, an increase from 14,123,199,641.32 RMB as of December 31, 2024[30] - The total liabilities increased to 3,699,403,275.70 RMB as of March 31, 2025, compared to 3,566,981,126.92 RMB at the end of 2024[31] - The total equity as of March 31, 2025, was 11,251,620,152.81 RMB, up from 10,556,218,514.40 RMB at the end of 2024[31] Cash Flow - The net cash flow from operating activities was negative at -¥250,106,757.85, a decline of 416.13% compared to ¥79,115,358.73 in the same period last year[4] - In Q1 2025, the net cash flow from operating activities was -250,106,757.85 RMB, a significant decline compared to 79,115,358.73 RMB in Q1 2024[25] - The cash flow from operating activities for Q1 2025 was a net outflow of ¥38,163,911.68, an improvement from a larger outflow of ¥125,430,503.75 in Q1 2024[36] - The company reported cash inflows from financing activities of ¥724,284,744.93 in Q1 2025, contrasting with an outflow of ¥37,386,108.61 in Q1 2024, showing a positive financing position[37] - The cash outflow for purchasing fixed assets in Q1 2025 was 126,595,580.48 RMB, a decrease from 186,416,596.57 RMB in Q1 2024[26] - The company reported a decrease in cash received from operating activities, totaling 4,084,528,993.61 RMB in Q1 2025, compared to 4,099,874,278.97 RMB in Q1 2024[25] Investments - Non-recurring gains and losses amounted to ¥47,249,648.81 after tax, with significant contributions from government subsidies and fair value changes of financial assets[7] - The company reported a substantial increase in trading financial assets by 340.67%, primarily due to increased aluminum futures trading[7] - The company received 724,284,744.93 RMB from investment in Q1 2025, indicating active capital raising efforts[26] - The cash outflow from investing activities in Q1 2025 was ¥998,944,800.00, a significant increase compared to ¥205,000,000.00 in Q1 2024, indicating aggressive investment strategies[36] - The company did not report any investment income in Q1 2025, contrasting with ¥431,510,000.00 in Q1 2024, reflecting a shift in investment performance[36] Shareholder Information - 河南豫联能源集团有限责任公司持有公司1,077,248,821股股份，其中"河南豫联能源集团有限责任公司"持有811,248,821股[11] - 公司以125,394.48万元收购河南中孚铝业有限公司24%的股权，收购后持股比例将增至100%[13] - 2025年2月，中孚铝业完成股东变更工商登记后，公司将持有中孚铝业100%的股权[13] - 公司在2024年第三次临时股东大会上审议通过了收购河南中孚铝业有限公司股权的议案[13]

中孚实业（600595）公告，2025年第一季度营收为50.21亿元，同比下降3.10%；净利润为2.3亿元，同 比增长426.79%。 ...

Investment Rating - The investment rating for the non-ferrous metals industry is "Positive" (maintained) [4] Core Views - Copper prices rebounded after a significant drop, with attention on the ongoing US-China trade dynamics and recession expectations in the US. The weekly performance showed US copper up 3.75%, London copper up 2.97%, and Shanghai copper down 4.6%. The decline in copper prices led to increased downstream activity and accelerated inventory depletion, with copper rod operating rates at 74.76%, up 0.21 percentage points week-on-week. Social inventory of electrolytic copper decreased by 14.80% to 267,200 tons, while Shanghai copper inventory fell by 18.96% to 182,900 tons. Short-term price rebounds may be limited by US recession expectations, with key focus areas being US-China trade developments, US economic and inflation data, and Federal Reserve interest rate expectations. Recommended stocks include Zijin Mining, Luoyang Molybdenum, Jincheng Mining, and Tongling Nonferrous Metals [4] - Aluminum prices fell due to tariff impacts, with signs of weakening demand in the peak season and continued inventory depletion. The alumina market remains oversupplied, with prices dropping 5.12% to 2,870 RMB/ton. The operating capacity of alumina plants decreased by 1.91 million tons to 84.82 million tons/year. Electrolytic aluminum prices fell 3.72% to 19,675 RMB/ton, with profit margins down 15.54% to 3,650 RMB/ton. Overall, the supply side of electrolytic aluminum shows no increase in capacity, leading to a potential shortage this year, which could drive aluminum prices up significantly. Recommended stocks include Hongchuang Holdings, Yun Aluminum, Tianshan Aluminum, Shenhuo Co., and China Aluminum [4] - Lithium prices continued to decline, with carbonate lithium down 3.11% to 71,600 RMB/ton. The supply side remains oversupplied, with inventory increasing by 1.3% to 131,000 tons. Demand growth is hindered by tariff impacts on downstream exports, with expectations for a narrowing of the oversupply throughout the year. Recommended stocks include Yahua Group, Zhongjin Lingnan, Yongxing Materials, and Ganfeng Lithium [4] Summary by Sections 1. Industry Overview - The US March CPI was lower than expected at 2.4%, with initial jobless claims matching expectations at 223,000 [8] 2. Industrial Metals 2.1. Copper - London copper rose 2.97%, while Shanghai copper fell 4.60%. Inventory levels decreased significantly, with Shanghai copper inventory down 18.96% [21][24] 2.2. Aluminum - London aluminum increased by 0.50%, while Shanghai aluminum decreased by 3.72%. The operating profit for aluminum companies fell by 15.54% [33] 2.3. Lead and Zinc - London lead prices fell 0.57%, while Shanghai lead prices decreased by 2.44%. London zinc prices rose 0.34%, but Shanghai zinc prices fell 2.36% [48] 2.4. Tin and Nickel - London tin prices dropped 12.17%, and Shanghai tin prices fell 13.22%. Nickel prices also saw a decline [61] 3. Energy Metals 3.1. Lithium - Lithium carbonate prices fell 3.11% to 71,600 RMB/ton, with continued oversupply in the market [77] 3.2. Cobalt - Overseas MB cobalt prices increased by 0.16% to 15.88 USD/pound, while domestic cobalt prices fell [88]