请介绍一下银泰铝业在 2025 年第一季度的整体经营情况及未来展望。 2025 年第一季度，银泰铝业的产量达到 38.46 万吨，同比增长 11.58%；销量为 37.49 万吨，同比增长 10.33%。在复杂的市场环境下，公司实现了 10%以上的 增长，充分证明了产品的综合竞争力。从具体领域来看，新能源和汽车领域在 年初需求表现良好，而近期 6G 领域中的机械加工和高端设备制造需求也有所改 善。整体订单较年初有所增加，市场需求超出预期。 从加工费来看，今年三月 份部分产品如碳基和 PS 板材的加工费上涨了 200 至 300 元。外贸方面，自 2024 年 12 月取消出口退税以来，外贸销量持续回暖。尽管美国全球性普遍加 • 银泰铝业一季度外贸出口量占总销量约 20%，虽较去年同期下降，但若恢 复出口退税政策，预计出口增长率有望超过 15%。美国加税政策对公司管 类产品影响不大，外贸订单持续回暖。 • 三月份银泰铝业单月销量达 15 万吨，产量近 14 万吨，为年内最佳表现， 但需考虑前期积压订单因素。全年目标为 160 万至 165 万吨，再生铝目标 为 100 万至 110 万吨。 • 新能源、汽车、风 ...

年该子公司产量仍有较大幅度提升，进一步提高公司高附加值产 品占比，改善公司产品结构。另外，公司海外基地产能释放节奏 加快，2025 年将助力公司进一步拓展海外市场。 六、本年度公司在新产品开发方面有何规划？ 答：本年度公司将建设高端热处理线，探索汽车板、航空板 等高端产品生产技术，重点关注新能源、汽车材料、半导体、工 业机器人及低空飞行等领域的用铝需求，积极开发相关领域产 品，扩大全铝立柱机器人本体、无人机屏蔽罩、散热器铝材、软 包电池铝箔等相关领域产品规模，持续改善公司产品结构。 七、在当前宏观形势下公司产销量仍然保持快速增长，公司有哪 些核心优势？ 答：公司专注主业，聚焦"高端智能制造"、"低碳循环经 济"，经过多年发展，在工艺技术、成本管控、产能规模等方面 位居行业前茅。产品综合竞争力强、种类丰富，应用领域覆盖国 民经济的各个生产门类。同时，公司系再生铝保级应用头部企业， 已顺利斩获 GRS4.0 全球回收标准证书，旗下多种产品完成 SGS 碳足迹排查。在全球碳中和背景下，再生铝产品低碳优势明显， 对国内外客户均有极强的吸引力，再生铝产品的大力推广，引导 行业低碳发展的同时助力公司产销规模稳步提升和可持 ...

证券代码：601677 证券简称：明泰铝业 公告编号：临 2025-006 | 产品 | 年一季度产量 2025 | 年一季度销量 2025 | | --- | --- | --- | | 铝板带箔 | 38.46 | 37.49 | | 铝型材 | 0.43 | 0.36 | 注：铝型材销量中不包含自用铝型材部分。上述数据未经审计，可能会与定 期报告数据存在差异，仅供投资者阶段性参考，相关数据以公司定期报告为准， 敬请投资者注意风险。 特此公告。 河南明泰铝业股份有限公司 董 事 会 河南明泰铝业股份有限公司 2025 年第一季度经营快报 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。 河南明泰铝业股份有限公司（以下简称"公司"）2025 年第一季度产品产销 数据如下： 单位：万吨 2025 年 4 月 7 日 ...

投资者关系活动记录表 | 答：本年初，公司及行业内 CTP/PS 板、易拉罐料、易拉盖 | | --- | | 料等产品，单吨加工费上调 200-1000 元不等。 | | 五、2025 年公司再生铝保级应用规模能否继续扩大？ | | 答：欧盟碳边境税政策实施临近，公司再生铝产品在碳减排 | | 方面优势较大，坚定不移的持续推动再生铝业务发展。2024 年 | | 末，中国海关放开变形废铝进口，支持再生铝保级应用企业发展。 | | 公司成立了再生铝国际采购部，进一步扩大废铝采购来源，积极 | | 推广再生铝产品应用，持续引领行业低碳发展。 | | 六、2025 年开年以来公司产销情况如何？ | | 答：目前，公司产销及在手订单稳定。1 月、2 月份销量同 | | 比仍实现了增长。 | 证券代码：601677 证券简称：明泰铝业 | 投资者关系活 | □ | 电话交流会 | 现场调研 | □ | 分析师会议 |  | 动类别 | □ | 业绩说明会 | □ | 路演活动 | □ | 其他 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- ...

Summary of Conference Call Notes Company and Industry Overview - The conference call discusses the performance and strategic direction of a company in the **recycling and aluminum processing industry**. The focus is on the company's growth in the **new energy and electronic appliances sectors**, which have increased their market share significantly. Key Points and Arguments Industry Performance - In 2024, the new energy and electronic appliances sectors account for **27%** of the company's revenue, up **4 percentage points** from 2023. The automotive and transportation sectors represent **21%**, an increase of **1 percentage point** [1] - Other sectors such as electronic materials, industrial consumables, food packaging, and pharmaceutical packaging have seen a decline in market share. Electronic materials now account for **3%**, industrial consumables **30%**, and food and pharmaceutical packaging **13%** [1] - The aerospace and military sectors remain stable at around **6%** of revenue [1] Growth Projections - The company aims for an overall growth target of approximately **15%** for 2025, indicating a strong commitment to expanding its market presence [1] Cost Management and Energy Control - The company is implementing cost control measures, particularly in energy management, to reduce production costs and carbon emissions. This includes transitioning to cleaner energy sources [2] - The processing industry, particularly in gas and electricity, has a significant impact on overall costs, and the company is exploring ways to lower these expenses [2][3] High-End Projects and Technological Upgrades - The company is advancing high-end projects, including the establishment of a new heat treatment line for aerospace and automotive applications, which is part of a broader strategy for long-term development [3] - An international procurement department has been established to enhance sourcing capabilities and manage costs effectively [3] Market Dynamics and Pricing - The company has observed stable sales volumes and is experiencing increased demand in the new energy and automotive battery sectors. However, there are concerns about rising processing fees in certain areas [4][5] - The impact of tariffs and trade policies, particularly from the U.S., is noted to be minimal as they affect all countries similarly [5] Product Structure and Innovation - The company is focusing on product structure changes and high-end technology development, particularly in the aerospace and automotive sectors. This includes the production of lightweight materials for aircraft [17][18] - There is a significant emphasis on recycling and utilizing waste materials, with a goal to increase the proportion of recycled materials in production [21][14] Export and Market Trends - The company has seen a slight increase in export volumes, with Asia being the largest market, accounting for over **40%** of exports, followed by North America at **30%** [26] - The cancellation of export tax rebates is expected to have limited impact on overall export performance [25] Future Outlook - The company is optimistic about future growth, particularly in the new energy sector, and is actively exploring new markets and product lines to enhance its competitive edge [30] - The management encourages investors to remain engaged with the company's developments and potential investment value [30] Additional Important Information - The company is preparing for the implementation of the EU carbon tax, which will require reporting on carbon emissions, although the tax has not yet been enforced [28] - The company is also assessing the impact of rising raw material costs and supply chain constraints on its operations [10][12] This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the company's focus on growth, cost management, and innovation within the recycling and aluminum processing industry.

Summary of Ming Tai Aluminum Industry Conference Call Company Overview - **Company**: Ming Tai Aluminum Industry - **Date**: February 13, 2025 Key Points Industry and Company Performance - In 2024, Ming Tai Aluminum achieved a total production and sales volume of **1.45 million tons**, significantly exceeding initial targets. The share of production in the **new energy and consumer electronics sectors** rose to **27%**, up **4 percentage points** from 2023. The automotive and transportation sectors accounted for **21%**, an increase of **1 percentage point** year-on-year [3][4] Future Growth Plans - For 2025, the company aims for a production and sales growth of **over 10%**, focusing on developing products for the **new energy battery**, **heat exchangers**, and **automotive and mechanical engineering vehicles**. The company will also explore opportunities in **6G manufacturing** and **3C consumer electronics** [3][5] International Procurement and Production Capacity - Ming Tai has established an **international procurement department** to adapt to the relaxed waste aluminum import standards in Q4 2024, aiming to enhance production capacity. A new **heat treatment line** is planned at the Hongsheng New Material project, expected to be completed by **July 2025** [3][6] Energy Cost Management - To address the EU carbon tax policy starting in H2 2024, Ming Tai plans to optimize its energy structure by using **clean energy** to reduce electricity and gas costs, thereby lowering carbon emissions and enhancing export competitiveness [3][7] Order and Demand Insights - The company reported a stable processing fee level for 2024, with expectations for minimal changes in 2025. The industry is seeing no new entrants, while smaller firms are exiting, leading to a concentration of orders among leading companies. Ming Tai's growth target exceeds the industry average, driven primarily by demand growth rather than competitor exits [3][9][10] Export and Pricing Strategy - Following the cancellation of export tax rebates, the company has shifted to a pricing model based on domestic aluminum ingot prices plus processing fees, achieving a **70% acceptance rate**. The Korean factory is expected to produce **70,000 tons per month**, totaling **80,000 to 100,000 tons** annually, compensating for some lost foreign orders [3][12][14][15] Recycling and Raw Material Usage - Ming Tai's recycled aluminum supply is robust, with a recovery rate of **65%**, aiming for **70%** (approximately **1.4 million tons**). The company utilizes both **electrolytic aluminum** and **premium recycling** methods, with the latter offering higher profit margins [3][19][17] Export Market Distribution - The company's exports are primarily directed towards **Asia and North America**, each accounting for **40%**, with **10%** to Australia and **8%** to Europe. The company maintains a dynamic inventory strategy, keeping stock levels between **150,000 to 200,000 tons** [3][22][23] Carbon Emission Compliance - Ming Tai has a competitive edge in carbon emissions, with levels **two-thirds lower** than those of traditional thermal power aluminum products, reducing emissions by **8 to 10 tons per ton** of product. This advantage is expected to be significant under the EU's border tax mechanism [3][21]

| 投资者关系活  | | 电话交流会 □ 现场调研 □ 分析师会议 | | --- | --- | --- | | 动类别 □ | | 业绩说明会 □ 路演活动 □ 其他 | | 地 点 | | 电话交流 | | 时 间 2 | | 月 7 日 | | | | 长江证券、大成基金、国寿养老、工银瑞信、宝盈基金、招商基 | | 参会单位名称 | | 金、易方达基金、金鹰基金、西部利得、中银资管、景顺长城、 | | （排名不分先 | | 银华基金、东财基金、博时基金、泉果基金、凯石基金、华安基 | | | | 金、农银人寿、开思基金、玄卜投资、正圆投资、汇信聚盈、杭 | | 后） | | 州银行、交银理财、宁银理财、东方自营、信达资本、才华资本、 | | | | 交银施罗德、Point72、红杉资本、TX Capital | | | | 一、公司 2024 年度经营回顾及 2025 年度产销规划？ | | | | 答：2024 年度公司铝板带箔产品全年累计销量达 145 万吨， | | | | 同比增幅超 16%。按下游应用领域划分，在新能源、电子家电、 | | | | 汽车及交通运输领域产品占比提高约 5% ...

证券代码：601677 证券简称：明泰铝业 公告编号：2025-001 河南明泰铝业股份有限公司 2024 年前三季度权益分派实施公告 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。 A 股每股现金红利 0.05 元（含税） 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/1/7 | － | 2025/1/8 | 2025/1/8 | 差异化分红送转： 否 一、通过分配方案的股东大会届次和日期 本次利润分配方案经公司 2024 年 12 月 17 日的 2024 年第二次临时股东大会 审议通过。 重要内容提示： 每股分配比例 二、分配方案 (一)发放年度：2024 年前三季度 (二)分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 (三)分配方案： 本次利润分配以方案实施前的公司总股本 ...

证券代码：601677 证券简称：明泰铝业 公告编号：临 2024-068 河南明泰铝业股份有限公司关于 特别风险提示：尽管投资产品属于低风险投资品种，但金融市场受宏观 经济的影响较大，不排除该项投资受到市场波动的影响。 一、闲置募集资金进行现金管理到期收回情况 公司使用向特定对象发行股票部分闲置募集资金于 2024 年 4 月 29 日向中国 银行股份有限公司巩义支行购买结构性存款 31,000 万元、29,000 万元（详见上 海证券交易所网站 www.sse.com.cn 的公司"临 2024-033"号公告），上述结构 性存款已全部赎回，本金及收益如期到账。 二、投资情况概述 （一）投资目的 为了提高募集资金使用效率，实现股东利益最大化，在确保不影响本次募集 资金投资计划的前提下，公司拟使用暂时闲置募集资金进行现金管理。 使用向特定对象发行股票部分闲置募集资金 进行现金管理进展的公告 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。 重要内容提示： 已履行的审议程序：河南明泰铝业股份有限公司（以下简称"公司"或 " ...

北京德恒律师事务所 2024 年第二次临时股东大会的 法律意见书 北京市西城区金融街 19 号富凯大厦 B 座 12 层 电话:010-52682888 传真:010-52682999 邮编:100033 北京德恒律师事务所 关于河南明泰铝业股份有限公司 2024 年第二次临时股东大会的法律意见书 北京德恒律师事务所 关于河南明泰铝业股份有限公司 关于河南明泰铝业股份有限公司 2024 年第二次临时股东大会的 法律意见书 德恒 01G20240230-2 号 致：河南明泰铝业股份有限公司 北京德恒律师事务所（以下简称"德恒"或"本所"）接受河南明泰铝业股 份有限公司（以下简称"明泰铝业"或"公司"）委托，指派本所律师出席公司 2024 年第二次临时股东大会（以下简称"本次股东大会"），对本次股东大会 的合法性进行见证并出具法律意见。 本法律意见书根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法（2019 修订）》（以下简称"《证券法》"）、《上 市公司股东大会规则（2022 修订）》（以下简称"《股东大会规则》"）等有 关法律、法规和规范性文件以及《河南明泰铝业股份有限公司章程 ...