二、董事会会议审议情况 （一）审议通过《关于公司 2025 年第三季度报告的议案》。 证券代码：601677 证券简称：明泰铝业 公告编号：临 2025-055 河南明泰铝业股份有限公司 第七届董事会第六次会议决议公告 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。 一、董事会会议召开情况 河南明泰铝业股份有限公司(以下简称"公司")于 2025 年 10 月 14 日以电 子邮件和电话通知方式发出召开第七届董事会第六次会议的通知，并于 2025 年 10 月 24 日在公司会议室召开。会议以现场+通讯方式进行，会议应参加董事 9 名，实参加董事 9 名，出席本次会议董事人数超过董事会成员半数，符合《中华 人民共和国公司法》和《河南明泰铝业股份有限公司章程》的有关规定，会议合 法有效。会议由董事长刘杰先生主持，公司部分高级管理人员列席了本次会议。 （二）《明泰铝业关于 2025 年前三季度利润分配预案的公告》。 特此公告。 河南明泰铝业股份有限公司 本议案已经公司董事会审计委员会审议通过。 表决结果：9 票同意，0 票反 ...

证券代码：601677 证券简称：明泰铝业 公告编号：临 2025-056 河南明泰铝业股份有限公司 关于 2025 年前三季度利润分配预案的公告 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： 每股分配比例：拟每 10 股派发现金红利 1 元（含税）。 以未来实施本次分配方案时股权登记日的公司总股本为基数，具体日期 将在权益分派实施公告中明确。在实施权益分派的股权登记日前公司总股本发生 变动的，拟维持每股分配比例不变，相应调整分配总额。 公司 2025 年前三季度利润分配预案已经公司第七届董事会第六次会议 审议通过，根据公司 2024 年年度股东大会审议通过的 2025 年中期利润分配授权 安排，本次利润分配预案无需提交公司股东会审议。 一、利润分配预案内容 河南明泰铝业股份有限公司 如在实施权益分派的股权登记日前公司总股本发生变动的，拟维持每股分配 比例不变，相应调整分配总额。 二、公司履行的决策程序 （一）公司股东会授权情况 公司于 2025 年 5 月 13 日召开 2024 年年度股东大会审议通 ...

河南明泰铝业股份有限公司 2025 年第三季度报告 重要内容提示： 公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚 假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告 中财务信息的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 证券代码：601677 证券简称：明泰铝业 河南明泰铝业股份有限公司 2025 年第三季度报告 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、主要财务数据 （一）主要会计数据和财务指标 | | | | | 单位：元 | 币种：人民币 | | | --- | --- | --- | --- | --- | --- | --- | | | | 本报告期比 | | | | 年初至报告期 | | 项目 | 本报告期 | 上年同期增 | | 年初至报告期末 | | 末比上年同期 | | | | 减变动幅度 | | | | 增减变动幅度 | | | | (%) | | | | (%) | ...

Core Viewpoint - Ming Tai Aluminum Industry (601677) reported a revenue increase in Q3 2025, indicating a positive growth trend despite a slight decline in net profit for the first three quarters of the year [1] Financial Performance - Q3 2025 revenue reached 8.874 billion yuan, a year-on-year increase of 6.39% [1] - Q3 2025 net profit was 464 million yuan, showing a significant year-on-year growth of 35.94% [1] - For the first three quarters of 2025, total revenue was 25.874 billion yuan, reflecting a year-on-year growth of 9.38% [1] - Net profit for the first three quarters was 1.404 billion yuan, which represents a slight decline of 0.49% year-on-year [1] - Basic earnings per share for the period stood at 1.12 yuan [1] Market Factors - The change in net profit is primarily attributed to the impact of falling aluminum ingot prices in the previous year, which affected profits during that period [1]

格隆汇10月24日｜明泰铝业(601677.SH)公告称，公司2025年前三季度实现营业收入258.74亿元，同比增 长9.38%；实现归属于上市公司股东的净利润14.04亿元，同比下降0.49%。其中，第三季度实现营业收 入88.74亿元，同比增长6.39%；实现归属于上市公司股东的净利润4.64亿元，同比增长35.94%。业绩变 动主要系上年同期铝锭价格下跌影响上期利润。 ...

Core Viewpoint - Ming Tai Aluminum reported a revenue of 8.874 billion yuan for the third quarter, representing a year-on-year increase of 6.39%, and a net profit of 464 million yuan, reflecting a year-on-year growth of 35.94% [1] Group 1: Quarterly Performance - The company's third-quarter revenue was 8.874 billion yuan, up 6.39% year-on-year [1] - The net profit for the third quarter was 464 million yuan, showing a significant increase of 35.94% compared to the same period last year [1] Group 2: Year-to-Date Performance - For the first three quarters, the total revenue reached 25.874 billion yuan, which is a year-on-year increase of 9.38% [1] - The net profit for the first three quarters was 1.404 billion yuan, indicating a slight decline of 0.49% year-on-year [1]

Core Insights - The overhead transmission line industry in China has developed a vast AC and DC transmission network with voltage levels exceeding 1000kV over nearly 40 years of rapid construction, playing a crucial role in efficiently delivering electricity from generation to consumption points, thus ensuring social stability and normal operations [1][15] - The market size of the overhead line industry in China is projected to grow from 52.167 billion yuan in 2021 to 64.2 billion yuan in 2024, with a compound annual growth rate (CAGR) of 7.16%. By 2025, the market size is expected to reach 68.38 billion yuan, driven by the acceleration of new power system construction and the deepening of cross-regional transmission strategies [1][15][16] Industry Overview - The overhead line industry is essential for power transmission, with overhead conductors made from conductive metals like aluminum and copper, designed to prevent current leakage and environmental damage [6][14] - The industry has evolved from producing simple bare conductors to high-performance products that meet the demands of modern high-voltage transmission systems, particularly in response to national strategies like "West-to-East Power Transmission" [9][14] Market Dynamics - The demand for overhead conductors is being driven by increasing electricity consumption, which rose from 63,077 billion kWh in 2017 to 98,521 billion kWh in 2024, reflecting a CAGR of 6.58% [14][15] - The ongoing transformation of the energy structure and upgrades to the power grid, including the construction of ultra-high voltage backbone networks and the integration of renewable energy, are directly boosting the market demand for high-conductivity, high-strength, and corrosion-resistant overhead conductors [1][15] Industry Chain - The overhead line industry chain consists of upstream raw materials (aluminum, copper, alloys, insulation materials), midstream manufacturing, and downstream applications in urban, industrial, and rural electricity supply [11][12] Key Players - Major companies in the overhead line industry include Huadong Cable Group, Xinya Cable, Jinbei Electric, Hengtong Optic-Electric, and others, which are competing based on technology, product quality, and service capabilities [2][16] Development Trends - The industry is moving towards smart grid integration, with a focus on real-time monitoring and predictive maintenance to enhance operational reliability and reduce outages [18] - Environmental sustainability is becoming a priority, with efforts to develop low-energy, recyclable materials and optimize manufacturing processes to minimize carbon footprints [19] - High performance is a critical requirement, with future products expected to enhance conductivity and mechanical strength while ensuring durability against extreme weather conditions [20]

Group 1 - Aluminum is the most widely used non-ferrous metal, with China being the largest producer and consumer globally [1] - The complete industrial chain in Henan includes bauxite, alumina, electrolytic aluminum, and deep processing of aluminum [1] - The third Central Plains (Zhengzhou) International Aluminum Industry Exhibition and the sixth Central Plains International Aluminum Processing Innovation Development Conference were held in Zhengzhou [1] Group 2 - Henan Mingtai Aluminum Co., Ltd. focuses on lightweight aluminum materials for automotive applications, achieving a 20% increase in tensile strength and a 15% reduction in thickness for their 6-series aluminum alloy [2] - The new aluminum-ceramic material showcased by Henan Shenhuo Group combines high-temperature resistance and wear resistance, with applications in aerospace and high-end equipment manufacturing [2] - Zhengzhou Hengzhong Heavy Industry Machinery Manufacturing Co., Ltd. offers a complete solution for aluminum plate and foil production, expanding its business to countries like Vietnam [2] Group 3 - The aluminum industry in Henan has developed an industrial pattern of "one belt, two clusters, and three zones," with continuous breakthroughs in high-end aluminum products [3] - Henan's aluminum material export value ranked first in the country last year, indicating a strong position in the market [3] - The province aims to build a competitive advanced aluminum-based materials industry cluster [3]

Group 1 - The company held its seventh board meeting on October 17, 2025, where all nine directors attended, meeting the legal requirements for a valid meeting [2][4]. - The board approved the adjustment of the fundraising project, reallocating approximately 590 million RMB to a new project for the production of 720,000 tons of aluminum-based new materials [3][22]. - The board also approved the establishment of a special account for the new fundraising project and authorized the chairman to sign the regulatory agreement [7][8]. Group 2 - The new project, named "720,000 tons aluminum-based new materials intelligent manufacturing project," is expected to start production by November 2027 and generate revenue thereafter [17][28]. - The total investment for the new project is estimated at 1.52 billion RMB, with 590 million RMB sourced from the company's fundraising efforts, while the remaining funds will be covered by the company's own or self-raised funds [29][30]. - The project aims to meet the growing demand in various sectors, including new energy vehicles, metal packaging, and transportation materials, aligning with national policies promoting high-quality aluminum materials [26][30]. Group 3 - The company has successfully completed the first phase of the original project, "Automobile and Green Energy Aluminum Industrial Park," and has begun trial production, which is expected to enhance production capacity in the automotive sector [24][30]. - The board's decision to adjust the fundraising allocation is based on a careful assessment of the project's progress and future benefits, ensuring efficient use of resources [23][26]. - The company has received the necessary investment project filing certificate from the provincial government for the new project, indicating compliance with local regulations [39].

Core Points - The company, Ming Tai Aluminum (stock code: 601677), held its seventh board meeting on October 17, 2025, where all nine participating directors were present, making the meeting valid [1] - A significant agenda item was the adjustment of the fundraising amount for the original investment project and the addition of new investment projects, particularly focusing on the "Automotive and Green Energy Aluminum Industry Park Project" [1] - The company plans to reduce the fundraising amount for the project, retaining approximately 330 million yuan for future construction, while reallocating 590 million yuan to a new project, the annual production of 720,000 tons of aluminum-based new materials by its wholly-owned subsidiary, Henan Yirui New Materials Technology Co., Ltd. [1] - This proposal has passed the board's audit committee review and will be submitted for approval at the upcoming shareholders' meeting [1] - To regulate the use and management of the raised funds, the company intends to open a dedicated account for the new investment project with compliant financial institutions and sign a supervision agreement with the lead underwriter and the bank [1] Additional Information - The company also approved a proposal to hold the third temporary shareholders' meeting on November 3, 2025, with detailed announcements published on the Shanghai Stock Exchange website [2]