Core Viewpoint - The company plans to implement a hedging strategy for its subsidiary to mitigate the risks associated with fluctuating alumina prices, as it prepares for the launch of a new alumina production project in 2026 [1][2][3] Meeting Details - The fifth extraordinary general meeting of shareholders is scheduled for September 12, 2025, with both on-site and online voting options available [1] - The meeting will include the election of voting personnel, discussion of the hedging proposal, shareholder speeches, and the announcement of voting results [1] Hedging Proposal - The proposal involves the subsidiary, Fangchenggang Company, engaging in alumina hedging to stabilize profits against price volatility [2][3] - The project is expected to produce 2.4 million tons of alumina annually, with sales commencing in the first half of 2026 [1] Financial Aspects - Fangchenggang Company will utilize its own funds for the hedging activities, with a maximum margin requirement of 1.152 billion yuan and a maximum contract value of 9.6 billion yuan on any trading day [2][3] - The hedging activities will be limited to a maximum of 2.4 million tons of alumina over the next 12 months [3] Risk Management - The company emphasizes that the hedging strategy will strictly avoid speculative trading and will be aligned with actual production needs [2][4] - A comprehensive risk management framework will be established to address potential liquidity risks and operational errors [4][5] Accounting Treatment - The company will adhere to relevant accounting standards for financial instruments and hedging activities, ensuring proper financial reporting and compliance [5]

2025 年第五次临时股东大会资料 新疆众和股份有限公司 2025 年第五次临时股东大会资料 2025 年 9 月 - 1 - 2025 年第五次临时股东大会资料 新疆众和股份有限公司 2025 年第五次临时股东大会议程 一、会议时间： （1）现场会议召开时间为：2025 年 9 月 12 日上午 11:00 时（北京时间） （2）网络投票时间为：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 9:15-9:25，9:30-11:30，13:00-15:00；通过互联网投 票平台的投票时间为股东大会召开当日的 9:15-15:00 二、现场会议地点：新疆乌鲁木齐市喀什东路 18 号本公司文化馆二楼会议室 三、会议议程： （一）主持人致开幕词； - 2 - （二）选举总监票人、监票人、唱票人、计票人，并由主持人宣布； （三）审议以下议案： 1.《公司关于控股孙公司开展套期保值业务的议案》。 （四）股东发言； （五）现场投票表决； （六）计票人与监票人进行现场投票计票； （七）监票人宣布现场投票计票结果； （八）通过交易所系统统计现场及网络投票的最终结果； （九）由见证律师就本次股东大会出具并 ...

Core Viewpoint - Xinjiang Zhonghe (600888) reported a revenue increase but a significant decline in net profit for the first half of 2025, indicating challenges in profitability despite higher sales [1] Financial Performance - Total revenue for the first half of 2025 reached 4.003 billion yuan, a year-on-year increase of 10.95% compared to 3.608 billion yuan in 2024 [1] - Net profit attributable to shareholders was 391 million yuan, down 38.48% from 640 million yuan in the previous year [1] - The second quarter saw a revenue of 2.124 billion yuan, up 7.3% year-on-year, but net profit dropped 43.93% to 170 million yuan [1] Profitability Metrics - Gross margin decreased to 9.92%, a decline of 26.69% from 13.53% [1] - Net margin fell to 9.84%, down 44.7% from 17.79% [1] - Total selling, administrative, and financial expenses amounted to 195 million yuan, representing 4.87% of revenue, a decrease of 22.73% year-on-year [1] Cash Flow and Assets - Cash flow per share was 0.22 yuan, down 16.8% from 0.27 yuan [1] - The company reported a net asset value per share of 7.92 yuan, an increase of 6.76% from 7.42 yuan [1] Investment Returns - The company's return on invested capital (ROIC) was 9.13%, indicating average capital returns [2] - Historical data shows a median ROIC of 5.27% over the past decade, with a notably low ROIC of 3.08% in 2015 [2] Fund Holdings - The largest fund holding Xinjiang Zhonghe is the Huaan CSI 1000 Index Enhanced A, with 41,400 shares and a current scale of 0.57 billion yuan [3] - The fund's latest net value was 1.0524 as of August 27, showing a decline of 1.84% from the previous trading day, but a yearly increase of 59.35% [3]

Core Viewpoint - Xinjiang Zhonghe's stock price is currently at 7.83 yuan, reflecting a slight decline of 0.02 yuan from the previous trading day, with a trading volume of 2.05 billion yuan [1] Company Summary - Xinjiang Zhonghe primarily engages in the research, development, production, and sales of aluminum electronic new materials and high-purity aluminum, with applications in electronics, power, and aerospace sectors [1] - The company reported a revenue of 4.003 billion yuan for the first half of 2025, marking a year-on-year increase of 10.95% [1] - The net profit attributable to shareholders of the listed company was 391 million yuan, representing a year-on-year decrease of 38.48% [1]

Meeting Overview - The board meeting of Xinjiang Zhonghe Co., Ltd. was held on August 26, 2025, in compliance with the Company Law and Articles of Association [1][2]. Resolutions Passed - The board approved the 2025 semi-annual report and its summary, which was recognized by the audit committee prior to the meeting [1][2]. - The board approved the special report on the storage and actual use of raised funds for the first half of 2025, with unanimous support [2]. - The board approved the proposal to cancel part of the stock options, receiving unanimous approval [2][3]. - The board approved the "Quality Improvement and Efficiency Recovery" action plan for 2025, with unanimous support [2][3]. - The board approved the proposal for the controlling subsidiary to conduct hedging business, receiving unanimous approval [3]. - The board approved the feasibility analysis report for the controlling subsidiary's hedging business, with unanimous support [3]. - The board approved the proposal to convene the fifth extraordinary general meeting of shareholders in 2025, receiving unanimous support [3].

Group 1 - The core viewpoint of the announcement is that the Supervisory Board of Xinjiang Zhonghe Co., Ltd. has convened its third meeting of the tenth session to review and approve several key reports and proposals, ensuring compliance with relevant laws and regulations [1][2][3] - The meeting was held on August 26, 2025, with all five supervisors present, confirming the legality and validity of the resolutions made [1] - The Supervisory Board approved the 2025 semi-annual report and its summary, which adheres to the disclosure standards and regulations set forth by relevant authorities [2][3] Group 2 - The Supervisory Board also approved a special report on the storage and actual use of raised funds for the first half of 2025, with unanimous support from all members [3] - Additionally, the Board passed a resolution regarding the cancellation of certain stock options, again with full approval from all supervisors [3]

Meeting Information - The fifth extraordinary general meeting of shareholders for 2025 will be held on September 12, 2025, at 11:00 AM in Urumqi [1] - The meeting will take place at the company's cultural center, located at No. 18, Kashgar East Road, Urumqi [1] - Shareholders can participate through both on-site voting and an online voting system provided by the Shanghai Stock Exchange [2] Voting Procedures - The online voting system will be available from 9:15 AM to 3:00 PM on the day of the meeting [1][2] - Shareholders holding multiple accounts can aggregate their voting rights across all accounts for the same category of ordinary shares and preferred shares [3][4] - Any repeated voting through different methods will be counted based on the first voting result [4] Attendance and Registration - Shareholders registered with the China Securities Depository and Clearing Corporation Limited as of the close of trading on September 5, 2025, are eligible to attend the meeting [4] - Registration can be done in person or through a proxy, with specific documentation required for both individual and corporate shareholders [4] Proxy Voting - A proxy can be appointed to attend the meeting and vote on behalf of the shareholder, with the proxy not necessarily needing to be a shareholder [4][5] - The proxy must indicate their voting intention (agree, oppose, or abstain) on the authorization letter [6]

Core Viewpoint - Xinjiang Zhonghe Co., Ltd. plans to conduct aluminum oxide hedging to mitigate price volatility risks affecting sales profits [1][2] Group 1: Business Details - The hedging transaction is expected to have a maximum margin requirement of 1.152 billion yuan and a maximum contract value of 9.6 billion yuan on any trading day [2] - The company plans to sell up to 2.4 million tons of aluminum oxide for hedging within the next 12 months, with the hedging position not exceeding the sales volume [2] - The funding for the hedging activities will come from self-raised funds, without involving raised capital [2] Group 2: Approval Process - The proposal was approved by the Audit Committee on August 19, 2025, and subsequently by the Board of Directors on August 26, 2025, pending approval from the shareholders' meeting [3] - The hedging activities will be conducted in compliance with the internal control system of the company, focusing on risk management and avoiding speculative trading [3] Group 3: Risk Analysis and Control - The company acknowledges potential risks including price volatility, funding, liquidity, and internal control risks, and has established measures to manage these risks [3] - The aim of the hedging business is to stabilize profit levels and mitigate product price fluctuation risks, with accounting treatment to follow relevant accounting standards [3]

| 证券代码：600888 | 证券简称：新疆众和 | 编号：临 | 2025-065 号 | | --- | --- | --- | --- | | 债券代码：110094 | 债券简称：众和转债 | | | 4、2021 年 11 月 15 日，公司召开了第八届董事会 2021 年第六次临时会议、 第八届监事会 2021 年第五次临时会议，审议通过了《公司关于向激励对象首次 授予限制性股票与股票期权的议案》，公司独立董事对此发表了独立意见，公司 监事会对授予相关事项进行了核实。相关事项于 2021 年 11 月 16 日披露在上海 证券交易所网站及《上海证券报》。 新疆众和股份有限公司 关于注销部分股票期权的公告 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。 新疆众和股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日召开的第 十届董事会第三次会议和第十届监事会第三次会议审议通过了《公司关于注销部 分股票期权的议案》，截至 2025 年 6 月 28 日，公司 2021 年限制性股票与股票期 权激励计划预留 ...

T&P 新疆天阳律师事务所 新疆众和2021 年限制性股票与股票期权激励计划注销部分期权之法律意见书 新疆天阳律师事务所 关于 新疆众和股份有限公司 2021 年限制性股票与股票期权激励计划注销部分股票期权 之 法律意见书 T&P 新疆天阳律师事务所 新疆众和 2021 年限制性股票与股票期权激励计划注销部分期权之法律意见书 新疆天阳律师事务所关于新疆众和股份有限公司 2021 年限制性股票 与股票期权激励计划注销部分股票期权之法律意见书 天阳证发字[2025]第 06 号 乌鲁木齐市水磨沟区红光山路 888 号绿城广场写字楼 2A 座 7 层 邮编：830002 电话(0991) 2822795 传真: (0991) 3550219 l T&P 新疆天阳律师事务所 新疆众和2021 年限制性股票与股票期权激励计划注销部分期权之法律意见书 目 录 | 第一节 律师声明事项 | | --- | | 第二节 法律意见书正文 | | 一、本激励计划的实施情况 . | | 二、关于本次注销事项 . | | 三、结论意见……………………………………………………………………………………………………… 10 | | 第三节 ...