一、 审议通过《关于子公司出售资产的议案》 股票代码：601388 股票简称：怡球资源 编号：2025-027 号 怡球金属资源再生（中国）股份有限公司 第六届董事会第二次会议决议公告 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"）第六届董事会 第二次会议于 2025 年 07 月 21 日以现场和通讯相结合的会议方式召开并进行表 决。会议通知已于 2025 年 07 月 10 日通过电子邮件或电话方式向全体董事送达 通知。本次董事会会议应出席董事9人,实际出席董事9人。 公司高管人员列席本次会议,会议的召开符合《中华人民共和国公司法》和《公 司章程》的规定。本次会议由董事长黄崇胜先生主持，经与会董事认真审议通过了 如下决议： 二○二五年七月二十一日 审议结果：表决票 9 票，赞成票 9 票，反对票 0 票，弃权票 0 票。 议案全文详见上海证券交易所网站（www.sse.com.cn）。 二、 审议通过《关于子公司拟出售资产的议案》 因公司子公司Ye Chiu ...

卫星化学：上半年净利润预增31.32%-53.20% 7月15日晚，卫星化学（002648）发布2025年半年度业绩预告，公司预计上半年实现归属于上市公司股 东的净利润27亿元至31.5亿元，同比增长31.32%-53.20%；预计实现扣除非经常性损益后的净利润28.52 亿元至33.02亿元，同比增长27.65%-47.79%。 资料显示，卫星化学成立于2005年8月，主营业务是(聚)丙烯、丙烯酸及酯、乙二醇、环氧乙烷、环氧 丙烷和聚乙烯等产品的生产和销售。 所属行业：基础化工–化学原料–其他化学原料 中国核建：累计新签合同871.49亿元 7月15日晚，中国核建（601611）发布公告称，截至2025年6月，公司累计实现新签合同871.49亿元，累 计实现营业收入531.84亿元。 资料显示，中国核建成立于2010年12月，主营业务是核电工程建设及工业与民用工程建设。 所属行业：建筑装饰–基础建设–基建市政工程 资料显示，怡球资源成立于2001年3月，主营业务是利用所回收的各种废旧铝资源，进行分选、加工、 熔炼等工序，生产出再生铝合金产品。 所属行业：有色金属–工业金属–铝 光库科技：上半年净利润预增60 ...

股票代码：601388 股票简称：怡球资源 编号：2025-025 号 怡球金属资源再生（中国）股份有限公司 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。 重要内容提示： 形。 比减少53%~67%。扣除非经常性损益事项后，2025年半年度公司净利润与同期相比， 预计减少3,500万元~4,600万元，同比减少49%~64%。 一、本期业绩预告情况 （一）业绩预告期间 （二）业绩预告情况 ~4,600万元，同比减少49%~64%。 （三）本次业绩预告未经注册会计师审计。 二、上年同期业绩情况 （一）上年同期的利润总额：9,248.09万元；上年同期归属于上市公司股东的 净利润：6,853.01万元；归属于上市公司股东的扣除非经常性损益的净利润： （二）每股收益：0.0311元。 三、本期业绩预减的主要原因 （一）汇率波动：主要是公司马来西亚子公司记账币为林吉特，同时原料入库 与成品销售存在时间差异，同期比2025年上半年美元兑林吉特汇率波动较大，导致 公司铝合金锭业务购买原料成本增加和售价下跌，最终使得公司毛利下滑，影 ...

[Current Period Performance Forecast](index=1&type=section&id=I.%E3%80%81Current%20Period%20Performance%20Forecast) The company forecasts a significant decline in its 2025 semi-annual performance, with net profit attributable to shareholders expected to decrease by 53% to 67% and non-recurring net profit by 49% to 64% 2025 Semi-Annual Performance Forecast | Metric | 2025 Semi-Annual Forecast | Prior Period | YoY Change | | :--- | :--- | :--- | :--- | | Net Profit Attributable to Parent | RMB 22.53 million - RMB 32.53 million | RMB 68.53 million | ↓ 53% to 67% | | Net Profit After Non-Recurring Items | RMB 25.64 million - RMB 36.64 million | RMB 71.64 million | ↓ 49% to 64% | - This performance forecast applies to situations where profitability is achieved, but net profit declines by more than **50%** compared to the same period last year[2](index=2&type=chunk) [Prior Period Performance Review](index=1&type=section&id=II.%E3%80%81Prior%20Period%20Performance%20Overview) The company's 2024 semi-annual performance included a net profit attributable to shareholders of RMB 68.53 million, non-recurring net profit of RMB 71.64 million, and basic earnings per share of RMB 0.0311 2024 Semi-Annual Performance Overview | Metric | 2024 Semi-Annual Amount | | :--- | :--- | | Total Profit | RMB 92.48 million | | Net Profit Attributable to Parent | RMB 68.53 million | | Net Profit After Non-Recurring Items | RMB 71.64 million | | Earnings Per Share | RMB 0.0311 | [Analysis of Main Reasons for Performance Pre-reduction](index=2&type=section&id=III.%E3%80%81Main%20Reasons%20for%20Current%20Period%20Performance%20Pre-reduction) The current period's performance decline is primarily due to significant USD to Malaysian Ringgit exchange rate fluctuations impacting gross margin and increased fixed costs from new capacity commissioned in H2 2024 - Exchange Rate Fluctuations: The company's Malaysian subsidiary uses Ringgit as its accounting currency; significant USD to Ringgit exchange rate volatility in H1 2025 led to increased raw material procurement costs and decreased finished product selling prices, ultimately reducing the company's gross profit[6](index=6&type=chunk) - Increased Fixed Costs: New production capacity commissioned in H2 2024 resulted in a year-over-year increase in fixed expenses during H1 2025, compressing profit margins[8](index=8&type=chunk) [Risk Warning](index=2&type=section&id=IV.%E3%80%81Risk%20Warning) The company confirms no significant uncertainties exist that could impact the accuracy of the current performance forecast - The company confirms the absence of significant uncertain factors that could affect the accuracy of this performance forecast[9](index=9&type=chunk) [Other Explanations](index=2&type=section&id=V.%E3%80%81Other%20Explanations) The company emphasizes that the performance forecast data is preliminary, with final accurate financial data to be based on the officially disclosed 2025 semi-annual report, advising investors to be aware of investment risks - The forecast data provided is preliminary, and the final accurate financial data will be subject to the company's officially disclosed 2025 semi-annual report[10](index=10&type=chunk)

Core Viewpoint - The company Yiqiu Resources (601388) expects a significant decrease in net profit for the first half of 2025 compared to the same period last year, primarily due to exchange rate fluctuations and increased fixed costs [1] Financial Performance Summary - The company anticipates a net profit attributable to shareholders of the parent company ranging from 22.53 million to 32.53 million yuan for the first half of 2025, representing a decrease of 36 million to 46 million yuan compared to 68.53 million yuan in the same period last year, which is a year-on-year decline of 53% to 67% [1] - The expected net profit after deducting non-recurring gains and losses is projected to be between 25.64 million and 36.64 million yuan, down from 71.64 million yuan in the previous year, indicating a reduction of 35 million to 46 million yuan, or a year-on-year decrease of 49% to 64% [1]

Core Viewpoint - The company has experienced a significant decline in performance, with a notable drop in net profit and operating cash flow due to various factors including increased raw material costs, changes in sales strategies, and external economic pressures [1][10][11]. Financial Performance - In 2024, the company's net profit was 0.19 billion, a decrease of 86.04% year-on-year, with a non-recurring net profit of 0.011 billion, down 92.60% [1][11]. - The total revenue for 2024 was 6.999 billion, a slight increase of 2.98% compared to 2023, but the gross profit margin fell to 5.23% from 7.98% in 2023 [5][12]. Business Segments - The company operates primarily in two segments: aluminum alloy ingots and scrap materials, with the aluminum alloy ingot segment showing a revenue increase of 13.39% in 2024, while the scrap segment saw a decline of 4.72% [5][8]. - The aluminum alloy ingot sales volume increased by 8.84% in 2024, attributed to a rise in both volume and price, while the average price per ton was 17,184.67 yuan, up 4.18% [5][6]. Cost Structure - The gross margin for aluminum alloy ingots dropped to 1.63% in 2024 from 4.26% in 2023, primarily due to rising raw material costs and increased operational expenses [7][10]. - The cost of raw materials, which constitutes over 90% of the total cost structure, has seen significant fluctuations, impacting overall profitability [8][10]. Market Conditions - The company faces intensified competition in the recycling aluminum industry due to trade tensions and regulatory changes affecting raw material supply, leading to increased costs and reduced margins [3][8]. - The scrap business, primarily serving the U.S. market, has remained stable in terms of volume but has been affected by declining prices in the black metal market, resulting in a slight revenue decrease [4][9]. Future Outlook - The company does not foresee a sustained decline in performance, as the adverse factors affecting 2024 are considered temporary, with strategies in place to mitigate risks and stabilize operations [17][22]. - The first quarter of 2025 showed signs of recovery, with a net profit of 0.021 billion, indicating a positive trend moving forward [21][22].

"【ss | 容 诚 关于怡球金属资源再生（中国）股份有限公 官 2024 年报问询函相关问题的核查意见 容诚专字|2025|100Z1548 号 容诚会计师事务所(特殊普通合伙) 中国 · 北京 目 录 | | | 关于怡球金属资源再生(中国)股份有限公司 2024 l 1-16 年报问询函相关问题的核查意见 关于怡球金属资源再生(中国) 股份有限公司 2024 年报问询函相关问题的核查意见 容诚专字[2025]100Z1548 号 上海证券交易所上市公司管理一部: 由怡球金属资源再生(中国)股份有限公司(以下简称"怡球资源公司"或 "公司"）转来的贵部关于《关于对恰球金属资源再生(中国)股份有限公司 2024 年度报告信息披露监管问询函》(上证公函[2025]0856 号)(以下简称"问 询函")奉悉,本所对问询函中须由会计师核查并发表意见的问题 2、问题 3 进 行了审慎核查,现回复如下: 问题2、关于境外业务。年报显示,公司目前主要在马来西亚基地生产、在 全球多地区采购及销售。2024年,公司境外业务营业收入规模达59.05 亿元,占 营业收入的84.37%,较上年增长5.36个百分点;境外销售毛利率 ...

股票代码：601388 股票简称：怡球资源 编号：2025-024 号 怡球金属资源再生（中国）股份有限公司 关于2024年年度报告的信息披露监管问询函的回复公告 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")于2025年6月 16日收到上海证券交易所下发的《关于怡球金属资源再生(中国)股份有限公司 2024年年度报告的信息披露监管问询函》（上证公函【2025】0856号）（以下简 称"《问询函》"）。 公司对《问询函》所列问题进行了认真落实，并回复如下： 1.关于经营业绩。公司主要从事再生铝合金锭生产销售、废料回收贸易等业 务，近三年归母净利润、经营现金流、毛利率持续下滑，经营业绩承压明显。 2024 年，公司实现营业收入69.99亿元，同比增长2.98%，实现归母净利润0.19 亿元，同比下滑86.04%，实现扣非归母净利润0.11亿元，同比下滑92.60%。其 中，第四季度营业收入占全年的28%，净利润亏损0.59亿元。报告期公司毛利率 5.52%，同比减少 ...

Core Viewpoint - The launch of casting aluminum alloy futures and options on June 10 marks the first recycled metal commodity in China's futures market, with strong initial trading performance and participation from leading aluminum companies [1][2][3]. Market Performance - On the first trading day, all seven contracts for casting aluminum alloy futures closed higher, with the main contract AD2511 opening at 19,400 yuan/ton and closing at 19,190 yuan/ton, a rise of 825 yuan/ton or 4.49% from the listing benchmark price of 18,365 yuan/ton [3][4]. - The total trading volume for the seven contracts reached 57,300 lots, with a transaction value of 11.011 billion yuan, and the main contract AD2511 accounted for 52,300 lots and 10.1 billion yuan in transaction value [3][4]. Industry Participation - Major aluminum companies such as Shunbo Alloy, Lichong Group, and Judong Co. actively participated in the trading on the first day, indicating strong industry interest [1][6][8]. - The recycled aluminum alloy industry is primarily composed of private enterprises, with a market concentration of about 30% among the top five companies [7]. Price Dynamics and Future Outlook - Analysts suggest that the initial price performance aligns with expectations, but caution that the market may experience significant price fluctuations due to seasonal demand changes and supply dynamics [4][5]. - The industry faces challenges such as overcapacity and low profit margins, with a projected operating rate of only 53% in 2024, which may limit future price increases [4][5]. Impact on Related Companies - The launch of casting aluminum alloy futures has positively impacted stock prices of related companies, with Shunbo Alloy rising by 10.01% and Lichong Group by 7.60% as of June 11 [8]. - Shunbo Alloy's projected revenue for 2024 is 13.977 billion yuan, a year-on-year increase of 17%, although its net profit is expected to decrease by 47.96% [8]. Strategic Importance - The introduction of these futures is expected to enhance risk management for industry players, providing a more effective hedging tool compared to existing aluminum futures [8][9]. - The futures market is anticipated to play a significant role in the pricing mechanism for aluminum alloys, contributing to a more transparent and fair market environment [8][9][10].

Industry Overview - The circular economy in China is in a stage of comprehensive construction and high-quality development, with a market size projected to reach 46,366 billion yuan in 2024, representing a year-on-year growth of 13.71% [1][12] - The "14th Five-Year Plan" for circular economy development sets a target for resource recycling industry output to reach 5 trillion yuan by 2025, supported by policies such as tax incentives and financial subsidies [1][12] - Technological advancements, including AI sorting systems and blockchain traceability platforms, have reduced recycling costs by 40% and improved sorting accuracy to over 95% [1][12] Industry Development History - The development of China's circular economy has gone through three main stages: advocacy and initial practice (1990s-2003), national decision-making and comprehensive pilot projects (2004-2015), and comprehensive construction and high-quality development (2016-present) [4][5][6] Industry Chain - The upstream of the circular economy industry chain includes raw materials and equipment sourced from waste and natural resources, while the midstream focuses on processing and recycling, and the downstream involves resource recovery and second-hand trading [8] Market Size - The total amount of recycled resources in China is expected to reach 401 million tons in 2024, with a recycling value of 1.33 trillion yuan, driven by policies and technological innovations [10][12] Key Enterprises - Leading companies in the circular economy sector include China Resources Recycling Group, which has a comprehensive recovery network and processes over 10 million tons annually [14][16] - Other notable companies include Guangdong Bangpu Recycling Technology, which specializes in battery recycling with high recovery rates, and Beijing High Energy Environment Technology, focusing on industrial waste treatment [14][16][18] Industry Development Trends - Future growth in the circular economy will heavily rely on technological innovation, with AI and high-value recycling technologies becoming core focuses [20] - Policy support will continue to be a key driver for the industry, with government initiatives aimed at standardizing and scaling operations [22] - Increasing market demand, particularly in electronic waste recycling, will create new growth opportunities, with significant volumes of electronic waste generated annually [23]