Group 1 - The core viewpoint of the articles highlights the growth in China's aluminum alloy production, with a reported output of 1.74 million tons in November 2025, representing a year-on-year increase of 17% [1] - Cumulative aluminum alloy production from January to November 2025 reached 17.456 million tons, showing a cumulative growth of 15.8% [1] - The articles reference a strategic analysis report by Zhiyan Consulting, which outlines the market operation pattern and prospects of the aluminum alloy industry in China from 2026 to 2032 [1] Group 2 - The data source for the production statistics is the National Bureau of Statistics, with the information compiled by Zhiyan Consulting [2] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research reports, business plans, feasibility studies, and customized services [2] - The firm emphasizes its commitment to providing comprehensive industry solutions to empower investment decisions through professional insights and market intelligence [2]

证券日报网讯12月25日，怡球资源（601388）发布公告称，因原签字注册会计师李东昕、方伟、崔帅帅 工作调整，容诚会计师事务所改派滕忠诚、秦威峰负责公司2025年度财报及内控审计，滕忠诚2024年12 月曾被山东证监局出具警示函，公司称变更不影响审计工作。 ...

股票代码：601388 股票简称：怡球资源 编号：2025-035 号 怡球金属资源再生（中国）股份有限公司 关于变更签字注册会计师的公告 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个别及连带责任。 怡球金属资源再生（中国）股份有限公司（以下简称"公司"）分别于2025年4 月25日召开第五届董事会第十八次会议和2025年5月16日召开2024年年度股东大会会 议，审议通过了《关于续聘会计师事务所的议案》，同意聘请容诚会计师事务所（特 殊普通合伙）（以下简称"容诚"或"容诚会计师事务所"）为公司2025年年度审计 机构，具体内容详见公司于2025年4月26日披露的《关于续聘公司2025年度会计师事务 所的公告》（公告编号：2025-013）和《2024年年度股东大会决议公告》（公告编号： 2025-022）。 一、本次签字注册会计师的变更情况 容诚所作为公司2025年度财务报表和内部控制的审计机构，原拟委派李东昕、方 伟、崔帅帅为项目签字注册会计师为公司提供审计服务。鉴于原签字注册会计师李东 昕、方伟、崔帅帅工作调整，根据容诚所《执 ...

Core Viewpoint - The industrial metal sector has experienced a short-term surge, with notable increases in stock prices for several companies, particularly zinc-related firms [1] Group 1: Company Performance - Zinc Industry Co. has reached its daily limit increase in stock price [1] - New Weiling, Luoping Zinc Electric, Chihong Zn & Ge, Yiqiu Resources, and Yinbang Co. have also seen significant stock price increases [1]

证券日报网讯11月27日，怡球资源（601388）在互动平台回答投资者提问时表示，截至回复日，公司没 有应披露而未披露的消息，太仓209亩土地争议目前尚未有进展。 ...

Core Viewpoint - The aluminum alloy industry in China is experiencing significant growth, with a notable increase in production and a positive outlook for the coming years [1] Industry Summary - As of September 2025, China's aluminum alloy production reached 1.78 million tons, marking a year-on-year increase of 17.1% [1] - From January to September 2025, the cumulative production of aluminum alloys in China totaled 14.116 million tons, reflecting a cumulative growth of 15.9% [1] - The report by Zhiyan Consulting outlines the market operation pattern and strategic analysis of the aluminum alloy industry in China from 2026 to 2032 [1] Company Summary - Listed companies in the aluminum industry include China Aluminum (601600), Nanshan Aluminum (600219), Mingtai Aluminum (601677), Yun Aluminum (000807), Xinjiang Zhonghe (600888), Yiqiu Resources (601388), Haomei New Materials (002988), Asia Pacific Technology (002540), and Shunbo Alloy (002996) [1]

Core Viewpoint - The company, Yiqiu Resources, is set to implement hedging activities to mitigate risks associated with price fluctuations in aluminum alloy ingots and non-ferrous metals, as approved by its board of directors [2][4]. Trading Information Summary - As of November 14, 2025, Yiqiu Resources' stock closed at 3.34 yuan, down 1.47%, with a turnover rate of 3.2%, trading volume of 705,400 shares, and a transaction value of 239 million yuan [1]. - On the same day, the net outflow of main funds was 37.03 million yuan, accounting for 15.51% of the total transaction value; retail investors had a net inflow of 33.26 million yuan, representing 13.93% of the total transaction value [1][5]. Company Announcement Summary - The sixth board of directors of Yiqiu Resources held its fifth meeting on November 14, 2025, where the proposal to conduct hedging activities was unanimously approved by all nine attending directors [2]. - The hedging activities will involve trading in futures related to aluminum alloy ingots and non-ferrous metals, utilizing derivatives such as options, futures, and forwards, with a maximum margin and premium limit of 9 million yuan and a maximum contract value of 2.1 billion yuan per trading day [3][4]. Risk Management Measures - The company has established a "Hedging Management Method" to define approval authority, business processes, and risk control measures, with regular reviews by the risk management department [3].

Core Viewpoint - The company Yiqiu Resources (601388) is planning to engage in hedging activities to mitigate market price volatility risks associated with its production and operations, particularly in aluminum alloy ingots and non-ferrous metals [1][2]. Company Announcement Summary - As of November 14, 2025, Yiqiu Resources' stock closed at 3.34 yuan, a 0.3% increase from the previous week, with a market capitalization of 7.352 billion yuan, ranking 44th in the industrial metals sector [1]. - The company held its sixth board meeting on November 14, 2025, where the proposal for hedging business was unanimously approved by all nine attending directors [1][3]. - The hedging activities will involve trading in futures and options, with a maximum margin and premium not exceeding 9 million yuan, and the highest contract value held on any trading day capped at 2.1 billion yuan [2][3]. - The funding for these activities will come from the company's own resources, and the authorization for this hedging business is valid for twelve months from the board's approval [2].

Core Viewpoint - The company plans to engage in hedging activities to mitigate price volatility risks associated with its aluminum alloy ingot business, which is influenced by market price fluctuations due to the time lag between procurement and sales [3][8]. Summary by Sections Transaction Overview - The company's aluminum alloy ingot business involves the entire process from sorting and smelting waste aluminum resources to producing recycled aluminum alloy ingots, while also recovering by-products such as ferrous and non-ferrous metals [3]. - The primary raw materials are sourced from the Americas and Europe, leading to exposure to market price fluctuations [3]. Transaction Amount - The maximum margin and premium for hedging activities will not exceed RMB 9 million or its equivalent in other currencies [2][4]. - The maximum contract value held on any trading day will not exceed RMB 2.1 billion or its equivalent in other currencies [2][4]. Funding Source - The funding for these hedging activities will primarily come from the company's own funds [4]. Transaction Method - The hedging will involve futures related to aluminum alloy ingots and non-ferrous metals [5][8]. - Various derivatives such as options, futures, and forwards will be utilized [6][8]. - Transactions will occur on compliant public trading venues, both domestic and international [7][8]. Approval Process - The board of directors approved the hedging proposal during the fifth meeting of the sixth board on November 14, 2025, without the need for shareholder approval [10][17]. Impact on the Company - The hedging activities are expected to align with the company's operational needs, effectively controlling risks associated with product price volatility and supporting stable operational performance [15]. - The company will adhere to relevant accounting standards for the proposed hedging activities, ensuring proper reflection in financial statements [15].

Core Points - Yiqiu Resources (601388) announced plans to engage in hedging activities to mitigate market price volatility risks, focusing on trading aluminum alloy ingots and non-ferrous metals through derivatives like options, futures, and forwards [1] - The company has set a maximum margin and premium limit of 9 million yuan, with the highest contract value held on any trading day not exceeding 2.1 billion yuan, funded by its own capital [1] - The authorization for this hedging activity is valid for twelve months from the date of board approval and does not require shareholder meeting approval [1] Financial Performance - As of November 14, 2025, Yiqiu Resources closed at 3.34 yuan, down 1.47% from the previous trading day, with a total market capitalization of 7.352 billion yuan [1] - The stock opened at 3.36 yuan, reached a high of 3.45 yuan, and a low of 3.34 yuan, with a trading volume of 239 million yuan and a turnover rate of 3.2% [1]