证券日报网讯 9月12日晚间，众源新材发布公告称，公司全资子公司安徽众源新材投资有限公司（简 称"众源投资"）的控股子公司安徽众源智造科技有限公司（简称"众源智造"）注册资本由10，000.00万 元变更至13，267.00万元。其中，安徽国元种子二期创业投资基金有限公司以总额2，000.00万元投资众 源智造，其中666.67万元作为注册资本投入，剩余1，333.33万元进入资本公积；安徽国元高新北交主题 股权投资合伙企业（有限合伙）以总额3，000.00万元投资众源智造，其中1，000.00万元作为注册资本 投入，剩余2，000.00万元进入资本公积；安徽山海壹号企业管理中心（有限合伙）以总额1，500.00万 元投资众源智造，其中500.00万元作为注册资本投入，剩余1，000.00万元进入资本公积；杨冬春以总额 3，301.00万元投资众源智造，其中1，100.33万元作为注册资本投入，剩余2，200.67万元进入资本公 积。本次变更完成后，众源投资的持股比例由68.00%下降到51.25%。上述事项已于近日完成工商变更 登记手续，并取得换发的营业执照。 （文章来源：证券日报） ...

证券代码：603527 证券简称：众源新材 公告编号：2025-044 安徽众源新材料股份有限公司 关于控股子公司变更注册资本并完成工商变更登记 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法律责任。 安徽众源新材料股份有限公司全资子公司安徽众源新材投资有限公司（以下 简称"众源投资"）的控股子公司安徽众源智造科技有限公司（以下简称"众源 智造"）注册资本由 10,000.00 万元变更至 13,267.00 万元。其中，安徽国元种 子二期创业投资基金有限公司以总额 2,000.00 万元投资众源智造，其中 666.67 万元作为注册资本投入，剩余 1,333.33 万元进入资本公积；安徽国元高新北交 主题股权投资合伙企业(有限合伙)以总额 3,000.00 万元投资众源智造，其中 1,000.00 万元作为注册资本投入，剩余 2,000.00 万元进入资本公积；安徽山海 壹号企业管理中心(有限合伙)以总额 1,500.00 万元投资众源智造，其中 500.00 万元作为注册资本投入，剩余 1,000.00 万元进入资本公积； ...

Market Overview - On September 4, the industrial metals sector fell by 4.23%, with Huayu Mining leading the decline [1] - The Shanghai Composite Index closed at 3765.88, down 1.25%, while the Shenzhen Component Index closed at 12118.7, down 2.83% [1] Individual Stock Performance - Notable gainers included: - Yian Technology (300328) with a closing price of 18.60, up 3.91% [1] - Asia Pacific Technology (002540) at 6.58, up 3.46% [1] - Significant decliners included: - Huayu Mining (601020) at 24.65, down 10.00% [2] - Baiyin Nonferrous (601212) at 3.82, down 9.69% [2] - Luoyang Jiyie (603993) at 12.44, down 8.86% [2] Trading Volume and Capital Flow - The industrial metals sector experienced a net outflow of 3.687 billion yuan from main funds, while retail investors saw a net inflow of 2.769 billion yuan [2][3] - The trading volume for individual stocks varied, with notable figures such as: - Huayu Mining with a trading volume of 796,900 shares [2] - Baiyin Nonferrous with 4,925,700 shares [2] Capital Inflow Analysis - Key stocks with significant main fund inflows included: - Nanshan Aluminum (600219) with a net inflow of 71.11 million yuan [3] - Tianshan Aluminum (002532) with a net inflow of 34.90 million yuan [3] - Conversely, stocks like Tianshan Aluminum saw a retail net outflow of 56.38 million yuan [3]

证券代码：603527 证券简称：众源新材 公告编号：2025-043 安徽众源新材料股份有限公司 关于 2025 年 8 月提供担保的进展公告 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。 （一） 担保的基本情况 公司和公司全资子公司因经营和发展需要，向银行申请了需提供担保的综合 授信额度，并由公司和公司全资子公司为上述授信提供担保，担保方式为连带责 任保证担保，上述担保不存在反担保。相关担保情况如下： | 序 | | | | | 担保金额 | | --- | --- | --- | --- | --- | --- | | 号 | 协议 | 担保方 | 被担保方 | 银行 | （单位： 万元） | | 1 | 《保证合同》 | | 永杰铜业 | 芜湖扬子农村商业银 行股份有限公司（以 | 3,000.00 | | | | | | 下简称"扬子银行"） | | | 2 | 《保证合同》 | | 永杰铜业 | 扬子银行 | 1,900.00 | | 3 | 《最高额不可 | | 永杰铜业 | 招商银行股份有限公 | 5,000 ...

Core Insights - The company reported a total revenue of 4.804 billion yuan for the first half of 2025, representing an 18.65% year-on-year increase, while the net profit attributable to shareholders reached 95.241 million yuan, up 46.18% year-on-year [1] - The second quarter saw a revenue of 2.607 billion yuan, a 12.75% increase year-on-year, but the net profit dropped by 50.1% to 23.166 million yuan [1] - The company's accounts receivable is significantly high, with accounts receivable amounting to 715.08% of the net profit [1] Financial Performance - Total revenue increased from 4.049 billion yuan in 2024 to 4.804 billion yuan in 2025, an increase of 18.65% [1] - Net profit rose from 65.151 million yuan to 95.241 million yuan, a growth of 46.18% [1] - Gross margin decreased to 1.2%, down 67.68% year-on-year, while net margin improved to 1.95%, up 23.01% [1] - Total expenses (selling, administrative, and financial) amounted to 56.077 million yuan, accounting for 1.17% of revenue, a 10.93% increase year-on-year [1] Cash Flow and Debt - Cash and cash equivalents increased by 178.42% to 690 million yuan due to higher sales and collections [1] - Interest-bearing debt rose by 23.40% to 1.38 billion yuan, reflecting a reclassification of long-term borrowings [1] - The net cash flow from operating activities saw a significant increase of 149.42%, attributed to higher cash receipts from sales [1] Dividend Policy - The company plans to distribute a cash dividend of 0.16 yuan per share, totaling approximately 50.715 million yuan [2] Investment and Capital Expenditure - The net cash flow from investing activities increased by 20.86%, indicating reduced capital expenditures on projects [3] - The company’s return on invested capital (ROIC) was reported at 5.27%, which is below the historical median of 9.73% [3] Financial Health Indicators - The company maintains a healthy cash position, but the ratio of cash assets to current liabilities is only 33.08% [3] - The debt ratio for interest-bearing liabilities stands at 29.84%, indicating a moderate level of leverage [3] - Accounts receivable represent a significant portion of profit, raising concerns about cash flow management [3]

Core Viewpoint - The financial performance of Zhongyuan New Materials (603527) for the first half of 2025 shows significant growth in revenue and net profit, although there are concerns regarding high accounts receivable and declining gross margin [1] Financial Performance Summary - Total revenue for the first half of 2025 reached 4.804 billion yuan, an increase of 18.65% year-on-year [1] - Net profit attributable to shareholders was 95.241 million yuan, up 46.18% year-on-year [1] - The gross margin decreased to 1.2%, down 67.68% year-on-year, while the net margin increased to 1.95%, up 23.01% year-on-year [1] - The total of selling, administrative, and financial expenses was 56.077 million yuan, accounting for 1.17% of revenue, an increase of 10.93% year-on-year [1] - Earnings per share rose to 0.3 yuan, a 42.86% increase year-on-year [1] Cash Flow and Debt Analysis - Cash flow from operating activities showed a significant increase of 149.42%, attributed to higher cash receipts from sales [8] - The company’s cash and cash equivalents increased by 178.42% to 689 million yuan due to increased sales and collections [1] - Long-term borrowings increased by 31.35%, reflecting reclassification adjustments [2] Accounts Receivable and Other Assets - Accounts receivable stood at 910 million yuan, a slight increase of 2.01% year-on-year, with a concerning ratio of accounts receivable to net profit at 715.08% [1][12] - Other current assets decreased by 45.9%, indicating a reduction in deductible input tax [5] Dividend Plan - The company plans to distribute a cash dividend of 0.16 yuan per share, totaling approximately 50.715 million yuan [12]

Market Overview - On August 27, the industrial metals sector declined by 1.85%, with Zhongyuan New Materials leading the drop [1] - The Shanghai Composite Index closed at 3800.35, down 1.76%, while the Shenzhen Component Index closed at 12295.07, down 1.43% [1] Individual Stock Performance - Zhongyuan New Materials (603527) saw a significant decline of 6.08%, closing at 11.13 with a trading volume of 279,800 shares and a turnover of 318 million yuan [2] - Other notable declines included Huayu Mining (601020) down 5.84% to 24.02 and Zhi'an Technology (300328) down 5.74% to 17.23 [2] - Conversely, Haixing Co. (603115) increased by 2.08% to 18.63, with a trading volume of 127,100 shares and a turnover of 239 million yuan [1] Capital Flow Analysis - The industrial metals sector experienced a net outflow of 3.62 billion yuan from institutional investors, while retail investors saw a net inflow of 2.617 billion yuan [2] - The capital flow for individual stocks showed that Haiyang Co. had a net inflow of 64.38 million yuan from institutional investors, while it faced a net outflow of 79.54 million yuan from retail investors [3] - Yuguang Jin Lead (600531) had a net inflow of 27.25 million yuan from institutional investors but also saw outflows from retail investors [3]

Financial Performance - The company reported a total revenue of 4.804 billion yuan, ranking 19th among disclosed peers, with an increase of 755 million yuan compared to the same period last year, representing a year-on-year growth of 18.65% [1] - The net profit attributable to shareholders was 95.241 million yuan, an increase of 30.089 million yuan from the same period last year, reflecting a year-on-year increase of 46.18% [1] - The net cash inflow from operating activities was 171 million yuan, ranking 20th among disclosed peers, with an increase of 518 million yuan compared to the same period last year [1] Profitability Metrics - The latest asset-liability ratio is 54.69% [3] - The latest gross profit margin is 1.20%, an increase of 0.37 percentage points from the previous quarter [3] - The latest return on equity (ROE) is 4.63%, ranking 20th among disclosed peers, with an increase of 1.29 percentage points compared to the same period last year [3] Earnings Per Share - The diluted earnings per share (EPS) is 0.30 yuan, ranking 15th among disclosed peers, with an increase of 0.09 yuan compared to the same period last year, representing a year-on-year increase of 42.86% [3] Efficiency Ratios - The latest total asset turnover ratio is 1.10 times, ranking 4th among disclosed peers [3] - The latest inventory turnover ratio is 4.20 times, ranking 15th among disclosed peers [3] Shareholder Structure - The number of shareholders is 24,600, with the top ten shareholders holding 158 million shares, accounting for 49.88% of the total share capital [3] - The largest shareholder is Feng Quanhua, holding 26.42% of the shares [3]

Core Viewpoint - The company, Anhui Zhongyuan New Materials Co., Ltd., reported significant growth in revenue and net profit for the first half of 2025, driven by its dual strategy in new materials and new energy sectors [14][15]. Company Overview - The company is engaged in the production of new materials and new energy products, with a focus on copper products and battery components [16]. - As of June 30, 2025, the total assets amounted to 4.624 billion yuan, a year-on-year increase of 12.76% [15]. Financial Performance - The company achieved an operating income of 4.804 billion yuan, representing an 18.65% year-on-year growth [14]. - The net profit attributable to shareholders was 95 million yuan, up 46.18% year-on-year, while the net profit after deducting non-recurring gains and losses was -12 million yuan, a decrease of 123.25% [14]. Business Segments New Materials - The company produced 62,400 tons of copper strip and 1,756.24 tons of copper foil during the reporting period [17]. - The annual production capacity for high-precision copper alloy strip and copper strip blank is expected to reach 200,000 tons after project completion [17]. New Energy - The company’s subsidiaries are involved in the production of battery pack casings and structural components, with an annual capacity of 500,000 sets [19]. - The aluminum foil business produced 6,984.57 tons, with specific production for battery foil at 379.52 tons [20]. Shareholder Returns - In June 2025, the company distributed a cash dividend of 0.16 yuan per share, totaling approximately 50.72 million yuan, which is 39.84% of the net profit for 2024 [23]. Innovation and R&D - The company holds numerous patents, including 23 invention patents and 80 utility model patents in the new materials sector [24]. Governance and Compliance - The company emphasizes compliance with regulatory requirements and has made revisions to its governance structure to enhance operational efficiency [26][27].

Core Viewpoint - The company has implemented a "Quality Improvement and Efficiency Enhancement" action plan to align with regulatory requirements and enhance shareholder returns, reporting significant growth in net profit while facing challenges in non-recurring profit metrics [1][8]. Financial Performance - The company's net profit attributable to shareholders reached 0.95 billion, an increase of 46.18% year-on-year, while the net profit excluding non-recurring items decreased by 123.25% to -0.12 billion [1]. - As of June 30, 2025, total assets amounted to 46.24 billion, reflecting a year-on-year growth of 12.76%, and net assets attributable to shareholders were 20.55 billion, up 2.24% [2]. Business Operations - The company produced 62,400 tons of copper strip and sold 62,700 tons, with copper foil production at 1,756.24 tons and sales at 1,730.81 tons, achieving export sales of 4,471.95 tons [2]. - The company’s subsidiary, Anhui Yongjie Copper Industry, has a project with an annual production capacity of 100,000 tons of high-precision copper alloy strip and 50,000 tons of copper strip, with the first phase now operational [2]. Product Development - The company’s main products in the new energy sector include battery pack casings and structural components, with an annual capacity of 500,000 sets, primarily serving clients like Chery Automobile [2]. - The aluminum foil business produced 6,984.57 tons, with battery foil production at 379.52 tons, and the first phase of a 50,000-ton battery foil project is now operational [3]. Shareholder Returns - The company declared a cash dividend of 0.16 per share, totaling 50.72 million, which represents 39.84% of the net profit attributable to shareholders for 2024 [5]. - Since its listing, the company has distributed dividends eight times, amounting to approximately 344 million [5]. Innovation and R&D - The company holds 23 invention patents and 80 utility model patents in the new materials sector, and 2 invention patents and 15 utility model patents in the new energy sector [6]. - The R&D center focuses on optimizing production processes and enhancing product value, aiming to foster new productive forces [5]. Governance and Compliance - The company has revised its governance documents to ensure compliance with legal requirements and improve operational standards [7]. - It emphasizes the training of key personnel to enhance compliance awareness and risk management capabilities [7]. Investor Communication - The company adheres to strict information disclosure regulations and has established multiple channels for investor communication, including performance briefings and interactive platforms [6].