上市公司质量是上市公司投资价值的基础和市值管理的重要抓手。公司应当 立足提升上市公司质量，依法合规运用各类方式提升公司投资价值。 第三条 公司应当聚焦主业，提升经营效率和盈利能力，同时可以结合自身 情况，综合运用下列方式促进公司投资价值合理反应公司质量： （一）并购重组； 河南明泰铝业股份有限公司 市值管理制度 第一章 总则 第一条 为加强河南明泰铝业股份有限公司（以下简称明泰铝业或公司）市 值管理工作，进一步规范公司市值管理行为，推动公司提升投资价值，根据《中 华人民共和国公司法》《中华人民共和国证券法》《国务院关于加强监管防范风险 推动资本市场高质量发展的若干意见》《上市公司信息披露管理办法》及《上市 公司监管指引第 10 号——市值管理》等规定，制定本制度。 第二条 本制度所称市值管理，是指公司以提高上市公司质量为基础，为提 升投资价值和股东回报能力而实施的战略管理行为。 公司应当牢固树立回报股东意识，采取措施保护投资者尤其是中小投资者利 益，诚实守信、规范运作、专注主业、稳健经营，以新质生产力的培育和运用， 推动经营水平和发展质量提升，并在此基础上做好投资者关系管理，增强信息披 露质量和透明度，必要时 ...

单位：万元 东吴证券股份有限公司 关于河南明泰铝业股份有限公司 变更部分募投项目的核查意见 东吴证券股份有限公司（以下简称"东吴证券"、"保荐机构"）作为河南明 泰铝业股份有限公司（以下简称"明泰铝业"、"公司"）的保荐机构，根据《上 海证券交易所股票上市规则》、《上市公司监管指引第 2 号——上市公司募集资金 管理和使用的监管要求》、《上海证券交易所上市公司自律监管指引第 1 号——规 范运作》、《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关规定要求，对明泰铝业变更部分募投项目的事项进行了认真审慎的核查，核查 具体情况如下： 一、变更募集资金投资项目的概述 （一）募集资金的基本情况 经中国证券监督管理委员会（以下简称"证监会"）出具的《关于同意河南 明泰铝业股份有限公司向特定对象发行股票注册的批复》（证监许可〔2023〕1056 号）核准，公司向特定对象发行人民币普通股（A 股）股票 1 亿股，募集资金总 额为人民币 1,280,000,000.00 元，扣除发行费用人民币 11,647,276.85 元（不 含增值税），实际募集资金净额为人民币 1,268,352,723.15 元 ...

证券代码：601677 证券简称：明泰铝业 公告编号：2024-065 河南明泰铝业股份有限公司 关于召开 2024 年第二次临时股东大会的通知 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。 重要内容提示： 股东大会召开日期：2024年12月17日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 一、召开会议的基本情况 (一)股东大会类型和届次 2024 年第二次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投 票，应按照《上海证券交易所上市公司自律监管指引第 1 号—规范运作》等有关 规定执行。 (七)涉及公开征集股东投票权 (四)现场会议召开的日期、时间和地点 召开的日期时间：2024 年 12 月 17 日 10 点 00 分 召开地点：河南明泰铝业股份有限公司会议室 (五)网络投票的系统、起 ...

外贸策略交流会 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 | 投资者关系活 | ☑ 申击交流会 □ 到场调研 □分析师会议 | | --- | --- | | 动类别 | □路演活动 □其他 □业绩说明会 | | 地 点 | 电话交流会 | | 时 日 | 11月16日 | | 上市公司接访 | 副总经理 董事会秘书 雷鹏 副总经理 财务总监 孙军训 | | 人员 | 外贸销售部 肖栋梁 证券事务代表 景奇浩 | | | 广发基金 大成基金 汇添富 圆信永丰 博 | | | 时基金 高毅资产 幻方量化 泰康资产 长江有色 招商有 | | 参会单位名称 | 色 中金国际 中国人寿 复霈资产 敦和资产 柏骏资本 | | (排名不分先 | 太平基金 九泰基金 前海开源 中信资管 旌安投资 新华 | | 后) | 基金 财通有色 宁银理财 国华人寿 聚鸣投资 德邦有色 远策投资 勤辰资产 招商仁和保险 华泰有色 国盛有色 | | | 上海喜世润投资 | | | 一、铝材出口退税调整对在手订单有何影响? | | | 答:铝材出口退税调整政策出台后,公司积极与国外客户进 | | | 行了沟通, ...

Investment Rating - The report maintains a "Recommended" rating for the company, indicating a positive outlook for future performance [2]. Core Views - The company achieved a revenue of 23.655 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 21.59%. The net profit attributable to shareholders was 1.411 billion yuan, also up by 21.58% year-on-year [2]. - In Q3 2024, the company reported a revenue of 8.341 billion yuan, a year-on-year increase of 22.37%, but a net profit of 341 million yuan, which showed a decline of 4.65% year-on-year and a significant drop of 51.77% quarter-on-quarter [2]. - The company has been expanding its production capacity for recycled aluminum, currently holding over 1 million tons of capacity, which is expected to enhance profitability as the new project is completed [2]. - The report forecasts revenues for 2024, 2025, and 2026 to be 34.806 billion, 37.590 billion, and 41.350 billion yuan respectively, with net profits projected at 1.767 billion, 1.984 billion, and 2.248 billion yuan, corresponding to P/E ratios of 9.11, 8.08, and 7.14 [5][6]. Financial Summary - For 2023, the company reported a revenue of 26.442 billion yuan, with a decline of 4.82% year-on-year. The net profit attributable to shareholders was 1.347 billion yuan, down by 15.71% [5]. - The company’s gross margin for Q3 2024 was 9.39%, a decrease of 1.45 percentage points compared to the same period last year, primarily due to falling aluminum prices and increased operating expenses [2]. - R&D expenses for the first three quarters of 2024 reached 1.270 billion yuan, reflecting a year-on-year increase of 27.76% [2].

Investment Rating - The report maintains a "Buy" rating for the company [6]. Core Views - The company's Q3 performance saw a decline due to falling aluminum prices and domestic-international price discrepancies, despite achieving the highest quarterly sales volume of the year [2][3]. - The company reported a revenue of 83.41 billion yuan in Q3, a year-on-year increase of 22.37%, but a net profit of 3.41 billion yuan, reflecting a year-on-year decrease of 4.65% [1][2]. - The import policy for deformed scrap aluminum has been relaxed, enhancing the company's sources for recycled aluminum [2]. - The inclusion of electrolytic aluminum in the national carbon market is approaching, which will significantly benefit recycled aluminum production [3]. - The company is expanding its production capacity and developing new products to diversify its customer base [3]. Summary by Sections Financial Performance - For the first three quarters of 2024, the company achieved a revenue of 236.55 billion yuan, a year-on-year increase of 21.59%, and a net profit of 14.11 billion yuan, also up by 21.58% [1]. - In Q3, the company sold 382,200 tons of aluminum plates, strips, foils, and profiles, a 2.8% increase from the previous quarter [2]. Market Dynamics - The average price of electrolytic aluminum in Q3 was 19,600 yuan per ton, down 4.7% from Q2 [2]. - The price difference between LME and domestic aluminum prices affected the company's foreign trade profits, with average price differences of +57.3 yuan/ton in Q2 and -125.3 yuan/ton in Q3 [2]. Strategic Developments - The company aims to achieve an annual production capacity of 2 million tons of aluminum plates and strips and 1.4 million tons of recycled aluminum, with recycled aluminum expected to account for about 70% of raw material sources [3]. - The company is actively developing clients in sectors such as photovoltaic inverters, automotive display screens, and satellite components [3]. Profit Forecast and Valuation - The profit forecast for 2024, 2025, and 2026 has been raised to 1.8 billion, 2.02 billion, and 2.25 billion yuan respectively, with corresponding PE ratios of 9, 8, and 7 times based on the current stock price [4].

| 产品 | 生产 | | 销售 | | | --- | --- | --- | --- | --- | | | 本月产量 | 本年累计 | 本月销量 | 本年累计 | | 铝板带箔 | 12.58 | 121.31 | 11.88 | 120.54 | | 铝型材 | 0.11 | 1.42 | 0.11 | 1.23 | 证券代码：601677 证券简称：明泰铝业 公告编号：临 2024-059 河南明泰铝业股份有限公司 2024 年 10 月经营快报 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"）2024 年 10 月产品产销数 据如下： 单位：万吨 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 2024 年 11 月 5 日 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5][19]. Core Views - The company's revenue for Q1-Q3 2024 reached 23.66 billion yuan, a year-on-year increase of 21.6%, with a net profit attributable to shareholders of 1.41 billion yuan, also up by 21.6% [1][7]. - In Q3 2024, the company experienced a revenue of 8.34 billion yuan, a year-on-year increase of 22.4%, but a net profit decrease of 4.6% year-on-year [2][7]. - The decline in Q3 performance was primarily due to falling aluminum prices and foreign exchange losses, with the average price of aluminum ingots at 19,550 yuan/ton, down 1,000 yuan/ton from the previous quarter [2][7]. - The company achieved record high sales volumes for aluminum plates and foils, with Q3 sales reaching 379,000 tons, an increase of 60,000 tons year-on-year [2][8]. - The company has strong cost control capabilities, allowing it to maintain high profitability despite industry pressures [3][16]. Financial Forecasts - Revenue projections for 2024, 2025, and 2026 are estimated at 32.36 billion yuan, 34.53 billion yuan, and 37.76 billion yuan, respectively, with year-on-year growth rates of 22.4%, 6.7%, and 9.3% [3][16]. - The net profit forecasts for the same years are 1.90 billion yuan, 2.01 billion yuan, and 2.20 billion yuan, with growth rates of 41.3%, 5.7%, and 9.1% [3][16]. - The earnings per share (EPS) are projected to be 1.53 yuan, 1.62 yuan, and 1.77 yuan for 2024, 2025, and 2026, respectively [3][16].

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 投资者关系活动记录表 | --- | --- | --- | |--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Buy" rating for the company [3] Core Views - The company has experienced significant growth in revenue and net profit in the first three quarters of 2024, with revenue reaching 23.66 billion yuan, up 21.6% year-on-year, and net profit at 1.41 billion yuan, also up 21.6% year-on-year [1] - The company's performance is supported by a combination of increased sales volume and price, although the profit in Q3 was impacted by the aluminum price spread [1] - The company is positioned to benefit from the growth in high-value-added products and emerging industries such as new energy and low-altitude economy [1] Financial Performance Summary - For the first three quarters of 2024, the company achieved a sales volume of 1.087 million tons of aluminum plates and foils, a year-on-year increase of 18.7% [1] - The average net profit per ton for aluminum plates and foils was 1,299 yuan, reflecting a year-on-year increase of 2.5% [1] - The company’s projected net profits for 2024-2026 are estimated at 1.791 billion, 1.978 billion, and 2.144 billion yuan, respectively, with corresponding P/E ratios of 9.8, 8.9, and 8.2 times [1][2] Business Development and Strategy - The company is expanding its product range, currently offering over 200 specifications across 47 alloy grades, with a focus on high-tech and high-value-added sectors [1] - Recent policy changes regarding the import of recycled aluminum are expected to enhance the company's competitive advantage and increase its production capacity [1] - The company is recognized as a leader in the recycling aluminum sector, with a current capacity of 1.4 million tons per year [1]