关于股份回购实施结果暨股份变动的公告 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。 证券代码：603799 证券简称：华友钴业 公告编号：2024-079 浙江华友钴业股份有限公司 重要内容提示： | 回购方案首次披露日 | 2023/9/1 | | --- | --- | | 回购方案实施期限 | 待董事会审议通过后 12 个月 | | 预计回购金额 | 万元~100,000 万元 60,000 | | 回购价格上限 | 60 元/股 | | 回购用途 | □减少注册资本 □用于员工持股计划或股权激励 √用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 实际回购股数 | 22,703,060 股 | | 实际回购股数占总股本比例 | 1.34% | | 实际回购金额 | 750,496,013.79 元 | | 实际回购价格区间 | 21.98 元/股~39.49 元/股 | 一、回购审批情况和回购方案内容 2023 年 8 月 31 日，浙江华友钴业股份有限公司（以下简称"华友钴业"、"公 司"）召开第 ...

Investment Rating - The report maintains a "Buy-A" rating for Huayou Cobalt Co., Ltd. (603799.SH) [1] Core Views - The company's Q2 performance showed a significant quarter-on-quarter increase, driven by a substantial rise in nickel shipments and improved profitability due to the recovery in nickel prices [3][4] - For H1 2024, the company reported a revenue of 30.05 billion yuan, a year-on-year decrease of 9.9%, and a net profit attributable to shareholders of 1.67 billion yuan, down 19.9% year-on-year, which was in line with expectations [2] - Nickel product revenue for Q2 reached 5.4 billion yuan, a year-on-year increase of 72.5%, while nickel intermediate products and cobalt products saw revenue declines [3] Summary by Sections Financial Performance - In Q2 2024, the company achieved a net profit of 1.15 billion yuan, a quarter-on-quarter increase of 119.8%, attributed to the gradual ramp-up of upstream nickel resource projects and price recovery [3] - Nickel product shipments increased by 40% year-on-year to 76,000 tons, with nickel intermediate product shipments growing over 90% [3] - The average LME nickel price for H1 2024 was 17,804 USD/ton, with Q2 averaging 18,720 USD/ton, contributing to a gross margin of 21.0% in Q2, up 8.9 percentage points quarter-on-quarter [3] Product Performance - The company reported stable growth in product shipments, with Q2 shipments of positive materials increasing over 20% quarter-on-quarter [4] - H1 2024 shipments included 67,000 tons of precursor materials, a year-on-year increase of 11%, and 53,000 tons of positive materials, with a slight year-on-year decline but a significant quarter-on-quarter increase [4] Future Outlook - The report projects net profits for 2024, 2025, and 2026 to be 3.79 billion yuan, 4.34 billion yuan, and 4.83 billion yuan respectively, with corresponding P/E ratios of 10.0, 8.7, and 7.8 [7] - Despite a downward adjustment in earnings forecasts due to declining profitability in precursor and positive materials, the company is expected to benefit from its global integrated layout and improved profitability from nickel capacity release [7]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price based on expected earnings growth and market conditions [4][8]. Core Insights - The company's net profit for H1 2024 decreased by 19.87% year-on-year, primarily due to a significant drop in lithium battery material prices, with the average price of ternary materials falling by 49.29% [1][3]. - Despite the decline in profitability, the company achieved stable growth in production and sales volumes, particularly in nickel products, which saw a year-on-year increase of over 40% [1][3]. - The report highlights the successful ramp-up of production capacity in Indonesia, with several nickel projects reaching or exceeding their production targets [2][4]. Financial Performance Summary - For H1 2024, the company reported revenue of 30.05 billion yuan, a decrease of 9.88% year-on-year, and a net profit of 1.671 billion yuan [3][4]. - The projected net profits for 2024-2026 are 3.583 billion, 4.581 billion, and 4.983 billion yuan, respectively, with corresponding EPS of 2.10, 2.68, and 2.91 yuan [4][5]. - The company's gross margin is expected to improve gradually, with forecasts of 15.1% in 2024 and 16.1% in 2025 [5][6]. Production and Capacity Developments - The company is advancing its integrated layout in lithium battery materials, with several projects in Indonesia and domestic regions progressing well [2][4]. - The report notes that the company has successfully achieved production capacity for various nickel and lithium projects, which is expected to enhance its market position [2][4]. Market Conditions and Price Trends - The report indicates that the prices of lithium battery materials have experienced significant volatility, impacting the company's profitability [1][4]. - Nickel prices have shown a notable increase, contributing to improved profitability in Q2 2024, with the average price of electrolytic nickel rising by 7.84% [3][4].

Investment Rating - The report maintains a "Recommend" rating for the company, with projected PE ratios of 11X, 9X, and 7X for 2024-2026 [1][42] Core Views - The company's upstream resource layout is well-established, and downstream lithium battery materials are expected to rapidly scale up, with deep integration with international resource and automotive giants, ensuring high growth certainty and a strong moat [1][42] - The company's integrated layout in the lithium battery materials sector is steadily advancing, with a deep moat in its upstream resource end, and it is expected to stand out in fierce competition due to its cost advantages and technical expertise [1] Financial Performance - In H1 2024, the company achieved revenue of RMB 30.05 billion, a YoY decrease of 9.88%, and net profit attributable to the parent company of RMB 1.671 billion, a YoY decrease of 19.87% [1][7] - In Q2 2024, the company achieved revenue of RMB 15.088 billion, a YoY increase of 5.99%, and net profit attributable to the parent company of RMB 1.148 billion, a YoY increase of 8.23% [1][7] Product Performance - Nickel product output in H1 2024 was approximately 76,000 tons, a YoY increase of over 40%, with the Huafei project reaching full production [1] - Cobalt product shipments in H1 2024 were approximately 23,000 tons, a YoY increase of about 13%, maintaining a leading position in the industry [1] - Lithium battery precursor shipments in H1 2024 were 67,000 tons, a YoY increase of about 11%, driven by increased market share [1] Project Progress - The Huafei 120,000-ton nickel metal wet smelting project achieved full production by the end of Q1 2024, with continuous volume release expected in H2 2024 [1] - The Huayue 60,000-ton nickel metal wet smelting project has been operating steadily and exceeding production targets, with the SCM slurry pipeline fully connected, further reducing MHP production costs [1] - The Huake 45,000-ton nickel metal high-ice nickel project has achieved full production [1] Market Expansion - The company is expanding its market presence in North America and Europe, with the Guimu cathode project in South Korea partially operational and the Hungary cathode material project under construction [1] Future Growth - The company's upstream resource end, including nickel and lithium products, is expected to continue contributing incremental growth, with large-scale precursor and cathode material capacities and high-quality customers driving continuous volume expansion [1] - The company is expected to complete its transformation from a cyclical to a growth company, reducing profit cyclical fluctuations and gaining a significant advantage over peers [26]

关于公司控股股东及一致行动人部分股份解除质押及质押的公告 | 股票代码：603799 | 股票简称：华友钴业 | 公告编号：2024-078 | | --- | --- | --- | | 转债代码：113641 | 转债简称：华友转债 | | 浙江华友钴业股份有限公司 关于公司控股股东及一致行动人部分股份 解除质押及质押的公告 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: 2、股份质押情况 | | 是否 为控 | 本次质押股 | 是否为限 售股（如 | 是否 | 质押起 | | 质押到 | | | 占其所 | 占公司 | 质押融 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 名称 | 股股 | 数 | 是，注明 | 补充 | 始日 | | 期日 | | 质权人 | 持股份 | 总股本 | 资资金 | | | | | 限售类 | 质押 | | | | | | 比例 | 比例 | ...

2024 年 8 月 22 日 公司研究 镍板块业绩如期释放，2024H1 镍板块归母净利润占比达 57% ——华友钴业（603799.SH）2024 年半年报点评 要点 事件 :华友钴业于 2024 年 8 月 19 日晚发布 2024 年上半年业绩，实现营业收入 301 亿元，同比下降 10%，归母净利润实现 16.7 亿元，同比下降 20%（业绩预 告区间为 15-18 亿元）。2024Q2 实现归母净利润 11.5 亿元，同比增长 8%，环 比增长 120%；扣非归母净利润 11.8 亿元，同比增长 40%，环比增长 109%。 点评： 镍：镍板块归母净利润占 2024H1 的 57%。2024H1 镍产品出货量约 7.6 万吨（含 内部自供），同比增长超 40%。LME 镍上半年均价为 17752 美元/吨，同比下 降 27%；其中，Q2 均价为 18681 美元/吨，环比增长 11%。2024H1 华越公司 （持股 57%）实现净利润 6.9 亿元；印尼华科（持股 69.89%）净利润 4.7 亿元； 印尼华飞（51%）净利润 4.5 亿元，归母净利润合计 9.5 亿元，占上半年归母净 利润的 5 ...

证券研究报告·公司点评报告·能源金属 华友钴业（603799） 2024 年半年报点评：Q2 业绩符合预期，镍冶 炼增量显著 2024 年 08 月 20 日 买入（维持） | --- | --- | --- | --- | --- | --- | |----------------------------|-------|---------|--------|-------|-------| | 盈利预测与估值 [Table_EPS] | 2022A | 2023A | 2024E | 2025E | 2026E | | 营业总收入（百万元） | 63034 | 66304 | 66162 | 74551 | 80238 | | 同比（%） | 78.48 | 5.19 | (0.21) | 12.68 | 7.63 | | 归母净利润（百万元） | 3908 | 3351 | 3639 | 3988 | 4402 | | 同比（%） | 0.26 | (14.25) | 8.59 | 9.61 | 10.38 | | EPS-最新摊薄（元/股） | 2.30 | 1.97 | 2.14 | 2.35 | ...

关于 2024 年半年度募集资金存放与使用情况的专项报告 | 股票代码：603799 | 股票简称：华友钴业 | 公告编号：2024-073 | | --- | --- | --- | | 转债代码：113641 | 转债简称：华友转债 | | 浙江华友钴业股份有限公司 关于2024年半年度募集资金存放与使用情况的专项报告 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个别及连带责任。 根据中国证券监督管理委员会《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（2022 年修订）》（证监会公告〔2022〕15 号）和上海证券交易所印发的 《上海证券交易所上市公司自律监管指引第 1 号——规范运作（2023 年 12 月修订）》（上 证发〔2023〕193 号）的规定，将本公司 2024 年半年度募集资金存放与使用情况专项说明 如下。 一、募集资金基本情况 (一) 实际募集资金金额和资金到账时间 1. 2021 年非公开发行股票募集资金 根据中国证券监督管理委员会《关于核准浙江华友钴业股份有限公司非公开发行股票的 批 ...

关于变更注册资本并修订<公司章程>的公告 华友钴业关于变更注册资本并修改公司章程的公告 | 股票代码：603799 | 股票简称：华友钴业 | 公告编号：2024-074 | | --- | --- | --- | | 转债代码：113641 | 转债简称：华友转债 | | 浙江华友钴业股份有限公司 1、第六条 公司注册资本为人民币 171008.3466 万元。 修改为：第六条 公司注册资本为人民币 169720.6543 万元。 2 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。 经浙江华友钴业股份有限公司（以下简称"公司"或"华友钴业"）第六届董事 会第十四次会议审议通过，鉴于公司 2021 年限制性股票激励计划（以下简称"2021 年激励计划"或"2021 年股权激励计划"）首次授予部分激励对象中 13 人因不受个 人控制的岗位调动与公司解除劳动关系，11 人因公司原因提出与员工协商解除劳动 关系而离职，1 人合同到期因公司原因不再续约而离职，35 人因个人原因主动离职， 1 人因个人过错被公司解聘，6 人因退休 ...

华友钴业第六届监事会第十三次会议决议公告 一、审议通过《关于 2024 年半年度报告及摘要的议案》 同意公司编制的《2024 年半年度报告》及摘要。 表决结果：3 票同意，0 票反对，0 票弃权。 | 股票代码：603799 | 股票简称：华友钴业 | 公告编号：2024-072 | | --- | --- | --- | | 转债代码：113641 | 转债简称：华友转债 | | 浙江华友钴业股份有限公司 第六届监事会第十三次会议决议公告 本公司监事会及全体监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。 监事会会议召开情况 浙江华友钴业股份有限公司（以下简称"公司"）第六届监事会第十三次会议于 2024年8月19日以现场方式召开，本次会议通知于2024年8月9日以书面、电子邮件、 电话等方式通知全体监事。会议由监事会主席张江波先生召集并主持，会议应参会 监事3人，实际参会监事3人。本次会议的召集和召开程序符合《公司法》和《公司 章程》的规定，会议合法有效。 监事会会议审议情况 二、审议通过《关于<2024 年半年度募集资金存放与使用情况 ...