Group 1 - Xinjiang Zhonghe's stock price increased by 6.1%, reaching 9.04 CNY per share, with a trading volume of 2.19 billion CNY and a turnover rate of 1.80%, resulting in a total market capitalization of 12.69 billion CNY [1] - The company, established on February 13, 1996, and listed on February 15, 1996, is located in Urumqi, Xinjiang, and specializes in the production and sales of various aluminum products, including high-purity aluminum and electronic aluminum foil [1] - The main revenue composition of Xinjiang Zhonghe includes alloy products (39.49%), high-purity aluminum (18.16%), electrode foil (14.49%), electronic aluminum foil (9.34%), aluminum products (9.05%), and other categories [1] Group 2 - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Xinjiang Zhonghe, having reduced its holdings by 66,600 shares in the third quarter, now holding 7.71 million shares, which is 0.55% of the circulating shares [2] - The Southern CSI 1000 ETF has a total scale of 76.63 billion CNY and has achieved a year-to-date return of 28.07%, ranking 1919 out of 4216 in its category [2] - The fund manager, Cui Lei, has been in position for 7 years and 7 days, with a total asset scale of 122.76 billion CNY, achieving a best return of 179.77% and a worst return of -15.93% during the tenure [3]

Group 1: Profitability Analysis of Lithium Battery Aluminum Foil Leaders - The overall revenue growth trend for lithium battery aluminum foil leaders in the first half of 2025 is observed, but the year-on-year growth rate has slowed down, with Ding Sheng New Materials showing a 15.94% increase, a slowdown of 8.63 percentage points compared to the previous year [2][3] - The highest revenue growth rate is recorded by Yongjie New Materials at 18.61%, followed closely by Dongyangguang at 18.48% [2][3] - The gross profit margin for aluminum foil leaders is generally declining, with Dongyangguang having the highest margin at 20.14% and Wanshun New Materials the lowest at 5.33% [2][3] Group 2: Net Profit Situation - The lithium battery aluminum foil industry faced profit pressure in the first half of 2025, with most companies experiencing a year-on-year decline in net profit. Dongyangguang recorded the fastest growth at 10.57%, followed by Yongjie New Materials at 13.62% [4][5] - The net profit margin is declining for most companies, with Shenhuo Co., Ltd. having the highest net profit margin at 11.02% and Wanshun New Materials at -1.97% [4][5] Group 3: Shipment Volume Analysis - The shipment volume of lithium battery aluminum foil showed an overall growth trend in the first half of 2025, with Wanshun New Materials reporting a slight decline of 4.7% in aluminum foil sales, totaling 51,000 tons [7] - Xinjiang Zhonghe achieved electronic aluminum foil product sales of 9,737.26 tons, a year-on-year increase of 8.79% [7] - Shenhuo Co., Ltd. reported aluminum foil sales of 49,800 tons, completing 36.89% of its annual plan [7] Group 4: Company-Specific Analysis Ding Sheng New Materials - Ding Sheng New Materials focuses on the research, production, and sales of aluminum foil products, with total assets of approximately 25.99 billion yuan and a revenue of 13.31 billion yuan in the first half of 2025, reflecting a 15.94% year-on-year increase [8][10] - The company is actively expanding its market and accelerating the production of overseas bases, becoming the largest battery aluminum foil manufacturer globally [8][9] Dongyangguang - Dongyangguang's revenue in the first half of 2025 reached 7.12 billion yuan, a year-on-year increase of 18.48%, with a net profit of 613 million yuan, reflecting a significant growth of 170.57% [11][13] - The company is focusing on high-value-added products and enhancing its competitive edge through technological upgrades [12][13] Wanshun New Materials - Wanshun New Materials reported a revenue of 2.692 billion yuan in the first half of 2025, a year-on-year decline of 10.11%, with a net profit of -53.06 million yuan, a decrease of 469% [16][17] - The company is actively developing new products to meet the demands of downstream battery customers [16][17] Xinjiang Zhonghe - Xinjiang Zhonghe achieved a revenue of 4.003 billion yuan in the first half of 2025, a year-on-year increase of 10.95%, with a net profit of 391 million yuan, reflecting a decline of 38.48% [20][21] - The company is focusing on expanding its market share by adjusting its product structure based on customer needs [18][19] Ming Tai Aluminum - Ming Tai Aluminum reported a revenue of 17 billion yuan in the first half of 2025, a year-on-year increase of 11%, with a net profit of 940 million yuan, reflecting a decline of 12.11% [25][26] - The company is committed to high-end manufacturing and low-carbon circular economy [23][24] Chang Aluminum - Chang Aluminum achieved a revenue of 4.157 billion yuan in the first half of 2025, a year-on-year increase of 13.63%, with a net profit of 26 million yuan, reflecting a decline of 16.97% [31][32] - The company is focusing on providing materials for the automotive industry, including battery structures and cooling systems [29][30] Yongjie New Materials - Yongjie New Materials reported a revenue of 4.427 billion yuan in the first half of 2025, a year-on-year increase of 18.61%, with a net profit of 186 million yuan, reflecting a growth of 13.62% [35][36] - The company is enhancing its product offerings in the lithium battery sector and optimizing its product structure [34][35] Shenhuo Co., Ltd. - Shenhuo Co., Ltd. achieved a revenue of 20.43 billion yuan in the first half of 2025, a year-on-year increase of 12.12%, with a net profit of 1.904 billion yuan, reflecting a decline of 16.62% [40][41] - The company is focusing on high-quality aluminum foil products for the battery industry [38][39]

Core Viewpoint - Xinjiang Zhonghe (600888) announced on November 7 that the exercise price for the stock options granted in 2021 is set at 9.16 yuan per share [1] Company Summary - The company has provided information regarding the exercise price of its stock options, indicating a strategic move in its compensation structure [1]

Core Viewpoint - Xinjiang Zhonghe (600888.SH) reported a total operating revenue of 5.957 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 8.22%. However, the net profit attributable to shareholders decreased by 39.15% to 531 million yuan, with basic earnings per share at 0.383 yuan [1] Financial Performance - Total operating revenue for the first three quarters reached 5.957 billion yuan, marking an increase of 8.22% compared to the previous year [1] - Net profit attributable to shareholders was 531 million yuan, which represents a decline of 39.15% year-on-year [1] - Basic earnings per share stood at 0.383 yuan [1]

| 证券代码：600888 | 证券简称：新疆众和 | 编号：临 | 2025-076 | 号 | | --- | --- | --- | --- | --- | | 债券代码：110094 | 债券简称：众和转债 | | | | 新疆众和股份有限公司 关于注销部分募集资金专项账户的公告 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。 一、募集资金基本情况 根据中国证券监督管理委员会（以下简称"中国证监会"）于 2023 年 6 月 29 日出具的《关于同意新疆众和股份有限公司向不特定对象发行可转换公司债 券注册的批复》（证监许可〔2023〕1445 号），公司向股权登记日 2023 年 7 月 17 日上海证券交易所收市后登记在册的原股东优先配售，原股东优先配售后余 额部分（含原股东放弃优先配售部分）采用网上通过上交所交易系统向社会公众 投资者发售的方式进行，共计发行 1,375 万张可转换公司债券，每张面值 100 元，募集资金总额为人民币 1,375,000,000.00 元，扣除承销及保荐费用、发行登 记费以及其他交易 ...

Financial Performance - The company's operating revenue for Q3 2025 was approximately ¥1.95 billion, representing a 3.04% increase compared to ¥1.90 billion in the same period last year[4] - Total profit for Q3 2025 decreased by 39.52% to approximately ¥147.38 million from ¥238.46 million in the previous year[4] - Net profit attributable to shareholders decreased by 40.94% to approximately ¥139.26 million, down from ¥232.30 million year-on-year[4] - The net profit after deducting non-recurring gains and losses fell by 46.20% to approximately ¥104.92 million compared to ¥195.02 million in the same period last year[4] - Basic earnings per share decreased by 40.64% to ¥0.0996 from ¥0.1678 in the previous year[4] - Diluted earnings per share dropped by 54.82% to ¥0.0755 from ¥0.1671 year-on-year[4] - Total operating revenue for the first three quarters of 2025 reached ¥5,957,217,343.87, an increase of 8.2% compared to ¥5,504,533,150.73 in the same period of 2024[22] - Net profit for the first three quarters of 2025 was ¥534,295,527.13, a decrease of 38.9% compared to ¥874,323,956.21 in the same period of 2024[24] - The company's operating profit for the first three quarters was ¥541,016,428.18, down 39.3% from ¥891,809,621.91 in the same period last year[22] - Basic earnings per share for the first three quarters were ¥0.3830, compared to ¥0.6422 in the same period of 2024, reflecting a decline of 40.3%[24] - The company reported an investment income of ¥281,209,759.13, down 44.3% from ¥504,900,458.17 year-on-year[22] - Other comprehensive income after tax showed a loss of ¥45,612,451.30, contrasting with a gain of ¥70,804,186.71 in the same period last year[24] Assets and Liabilities - The company's total assets increased by 9.03% to approximately ¥19.79 billion from ¥17.85 billion at the end of the previous year[5] - The equity attributable to shareholders rose by 2.48% to approximately ¥11.37 billion from ¥11.01 billion at the end of the previous year[5] - The company's total liabilities increased to ¥7,500,595,147.20, compared to ¥6,801,269,663.96 at the end of the previous year, reflecting a growth of 10.3%[19] - Total equity rose to ¥12,291,331,794.09, up from ¥11,351,763,905.31, indicating an increase of 8.3%[19] - The total liabilities to equity ratio stands at approximately 61.0%, indicating a slight increase in financial leverage compared to the previous year[19] - The company's total liabilities decreased to ¥5,840,616,522.41 in 2025 from ¥6,727,484,371.16 in 2024, a reduction of 13.18%[35] - The company's total equity increased to ¥10,504,335,198.14 in 2025, up from ¥10,215,984,918.34 in 2024, representing a growth of 2.83%[35] Cash Flow and Investments - The company's cash and cash equivalents as of September 30, 2025, amount to ¥2,416,461,915.47, down from ¥3,430,950,136.28 at the end of 2024[15] - Total cash inflow from investment activities decreased to CNY 758,276,576.64, down 35.2% from CNY 1,170,073,470.32 year-on-year[26] - Net cash flow from financing activities improved significantly to CNY 1,166,173,015.94, compared to a negative cash flow of CNY 1,021,062,547.86 in the previous year[26] - Cash and cash equivalents at the end of September 2025 were CNY 2,345,898,249.71, slightly up from CNY 2,308,360,208.66 at the end of 2024[26] - Cash flow from operating activities generated a net amount of ¥683,198,535.43 in 2025, compared to ¥386,332,563.09 in 2024, reflecting a growth of 76.73%[38] - The total cash inflow from investment activities was ¥763,183,801.23 in 2025, down from ¥1,141,112,201.22 in 2024[38] - The company reported a net cash outflow from investment activities of CNY -2,554,133,112.21, a significant decline from a positive cash flow of CNY 123,767,959.24 in the previous year[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 63,443[12] - The largest shareholder, TBEA Co., Ltd., holds 516,639,644 shares, accounting for 36.81% of total shares[12] Research and Development - Research and development expenses increased to ¥36,964,680.14 in 2025, up 55.41% from ¥23,769,664.92 in 2024[35]

Core Viewpoint - The company plans to hold an investor briefing on November 4, 2025, to discuss its third-quarter performance and financial results for 2025, allowing investors to engage in a Q&A session [2][3][5]. Group 1: Meeting Details - The investor briefing is scheduled for November 4, 2025, from 11:00 to 12:00 [2][5]. - The meeting will take place at the Shanghai Stock Exchange Roadshow Center, and it will be conducted in an interactive online format [2][5]. - Investors can submit questions from October 28, 2025, to November 3, 2025, before 16:00, through the Roadshow Center website or via the company's email [2][4]. Group 2: Participation Information - Investors can participate in the briefing by logging into the Shanghai Stock Exchange Roadshow Center on the scheduled date [4][5]. - The company will address commonly asked questions during the briefing, ensuring transparency and engagement with investors [3][4]. - Contact information for inquiries includes a phone number and email address provided by the company [6].

| 证券代码：600888 | 证券简称：新疆众和 | 公告编号：2025-075 号 | | --- | --- | --- | | 债券代码：110094 | 债券简称：众和转债 | | 新疆众和股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 重要内容提示： 会议召开时间：2025 年 11 月 4 日（星期二）11:00-12:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动方式 投资者可于 2025 年 10 月 28 日（星期二）至 11 月 3 日（星期一）16:00 前登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 xjjw600888@joinworld.com 进行提问。公司将在说明会上对投资者普遍关注的 问题进行回答。 新疆众和股份有限公司（以下简称"公司"）拟于 2025 年 10 月 31 日发布公 司 2025 年第三季度报告，为便于广大投资者更全面深入 ...

Core Viewpoint - Xinjiang Zhonghe's stock price has experienced fluctuations, with a recent decline of 2.07% and a year-to-date increase of 17.86%, indicating volatility in market performance [1] Financial Performance - For the first half of 2025, Xinjiang Zhonghe reported revenue of 4.003 billion yuan, a year-on-year increase of 10.95%, while net profit attributable to shareholders decreased by 38.89% to 391 million yuan [2] - Cumulative cash dividends since the company's A-share listing amount to 1.828 billion yuan, with 1.017 billion yuan distributed over the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 2.33% to 60,900, while the average circulating shares per person increased by 4.43% to 23,060 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 12.4888 million shares, a decrease of 1.4128 million shares from the previous period [3]

Core Viewpoint - The company, Xinjiang Zhonghe (600888.SH), has stated that it has not engaged in the research and development of materials related to aluminum-ion batteries [1] Group 1 - The company confirmed its lack of involvement in aluminum-ion battery material development [1]