| 证券代码：603799 | 证券简称：华友钴业 | 公告编号：2025-058 | | --- | --- | --- | | 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2024年年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。 重要内容提示： 每股分配比例 A 股每股现金红利0.5元 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 | 2025/6/10 | － | 2025/6/11 | 2025/6/11 | 差异化分红送转： 是 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浙江华友钴业股份有限公司（以下简称"公司"）2025 年 5 月 9 日 的2024年年度股东大会审议通过。 二、分配方案 1. 发放年度：2024年年度 2. 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 ...

证券研究报告·行业跟踪周报·电力设备 电力设备行业跟踪周报 马斯克回归 Optimus 量产在即，汽车反"内 卷式"竞争 增持（维持） [Table_Tag] [Table_Summary] 投资要点 2025 年 06 月 02 日 证券分析师 曾朵红 执业证书：S0600516080001 021-60199793 zengdh@dwzq.com.cn 证券分析师 阮巧燕 执业证书：S0600517120002 021-60199793 ruanqy@dwzq.com.cn 研究助理 许钧赫 2025-05-18 东吴证券研究所 1 / 43 请务必阅读正文之后的免责声明部分 执业证书：S0600123070121 xujunhe@dwzq.com.cn 行业走势 -17% -13% -9% -5% -1% 3% 7% 11% 15% 19% 23% 2024/6/3 2024/10/1 2025/1/29 2025/5/29 电力设备 沪深300 相关研究 《电力设备行业跟踪周报：人形机器 人量产在即，锂电需求略有好转》 2025-05-26 《电力设备行业跟踪周报：人形机器 人如火如荼，关税下降或带动 ...

Investment Rating - The report maintains a "Buy" rating for several companies in the non-ferrous metals sector, including Zijin Mining, Luoyang Molybdenum, and Huayou Cobalt [5][6]. Core Views - The report expresses optimism about gold prices due to ongoing uncertainties surrounding U.S. tariffs and geopolitical tensions, predicting a long-term upward trend in gold prices [4][6]. - Industrial metals are expected to perform well despite recent fluctuations, with specific attention to copper and aluminum, driven by domestic demand and supply chain dynamics [2][3]. Summary by Sections Industrial Metals - The report highlights a rise in the SMM imported copper concentrate index to $43.56 per dry ton, indicating a slight increase in supply costs [2]. - The Kamoa-Kakula copper mine in the Democratic Republic of Congo faces production disruptions due to seismic activity, potentially affecting output for up to six months [2]. - Domestic aluminum inventory continues to decrease, with a reduction of 23,000 tons reported, supporting price stability [2]. Energy Metals - Lithium prices are under pressure due to declining supply costs, while cobalt prices may see upward movement as inventory levels decrease [3]. - Nickel prices are expected to remain weak despite some production increases in precursor materials [3]. Precious Metals - The report notes that U.S. inflation data remains moderate, but trade uncertainties are likely to support gold prices [4]. - Silver prices are expected to be more resilient than gold due to its industrial applications, with a higher price elasticity anticipated [4]. Key Company Recommendations - The report recommends several companies for investment, including: - Zijin Mining: EPS forecast of 1.21 CNY for 2024, with a PE ratio of 15 [5]. - Luoyang Molybdenum: EPS forecast of 0.63 CNY for 2024, with a PE ratio of 11 [5]. - Huayou Cobalt: EPS forecast of 2.50 CNY for 2024, with a PE ratio of 13 [5]. - Other recommended companies include China Nonferrous Mining, Tianshan Aluminum, and Shandong Gold, among others [2][5].

内容概要：新材料是指新近发展或正在发展的具有优异性能的结构材料和有特殊性质的功能材料。作为 科技和产业发展的关键支撑，新材料行业产业在我国政策支持、市场需求和技术创新的多重驱动下，产 业规模持续快速增长，已成为稳定经济增长的重要支撑。2024年我国新材料产业总产值8.48万亿元，连 续14年保持两位数快速增长。预计2025年我国新材料产业产值有望达到9.34万亿元。随着新一代信息技 术、新能源、高端装备制造等下游行业的快速发展，对新材料的需求不断增长。这些市场需求为中国新 材料产业提供了广阔的发展空间。 上市企业：蓝思科技（300433）、安泰科技（000969）、中材科技（002080）、中科三环（000970）、 金发科技（600143）、凯赛生物（688065.SH）、湖南裕能（301358）、长远锂科（688779）、金博股 份（688598）、天齐锂业（09696）、华友钴业（603799） 相关企业：上海聚创力新材料有限公司、保定维赛新材料科技股份有限公司、万华化学集团、卫星化学 股份有限公司 关键词：新材料市场规模及结构、新材料行业产值、新材料净进口规模、新材料市场竞争格局、新材料 行业发展趋势 ...

Group 1 - The core viewpoint of the news is the performance of the China Construction Bank's Technology Innovation Leading Index (Yangtze River Delta), which rose by 2.0% to 1338.13 points, with a trading volume of 22.776 billion yuan [1] - The index has increased by 1.44% over the past month, decreased by 4.05% over the past three months, and has risen by 3.52% year-to-date [1] - The index consists of 50 representative listed companies from the Yangtze River Delta region, selected for their strong technological innovation capabilities and growth potential [1] Group 2 - The top ten weighted stocks in the index are: Weir Shares (10.07%), Lanjie Technology (8.22%), Zhongwei Company (7.11%), Jianghuai Automobile (6.34%), Huayou Cobalt (4.25%), Siyuan Electric (4.14%), Hudian Shares (3.86%), Hengsheng Electronics (3.67%), Top Group (3.15%), and New Hecheng (3.11%) [1] - The market segments of the index holdings show that the Shanghai Stock Exchange accounts for 72.90% and the Shenzhen Stock Exchange accounts for 27.10% [1] Group 3 - In terms of industry distribution, the index holdings are composed of 49.64% Information Technology, 19.03% Industrial, 11.08% Consumer Discretionary, 9.57% Healthcare, 7.30% Materials, 2.60% Communication Services, and 0.78% Consumer Staples [2] - The index samples are adjusted every six months, with adjustments occurring on the next trading day after the second Friday of June and December [2] - A buffer zone is set for sample adjustments, prioritizing new samples ranked within the top 25 and retaining old samples ranked within the top 75 [2]

从中证新材料主题指数持仓的市场板块来看，深圳证券交易所占比54.67%、上海证券交易所占比 44.77%、北京证券交易所占比0.56%。 从中证新材料主题指数持仓样本的行业来看，工业占比43.47%、原材料占比33.01%、信息技术占比 23.52%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理，参照计算与维护细则处理。 跟踪新材料的公募基金包括：华宝中证新材料主题ETF联接A、华宝中证新材料ETF、国泰中证新材料 主题联接A、华夏中证新材料主题ETF联接A、天弘中证新材料A、平安中证新材料ETF、华夏中证新材 料主题ETF联接C、国泰中证新材料主题联接C、建信中证新材料主题ETF、华宝中证新材料主题ETF联 接C等。 金融界5月28日消息，上证指数高开震荡，中证新材料主题指数 (新材料，H30597)下跌0.8%，报2809. ...

Core Viewpoint - Zhejiang Huayou Cobalt Co., Ltd. is implementing a cash dividend distribution plan for the year 2024, which includes a cash dividend of 5 yuan per 10 shares, and will adjust the conversion price of its convertible bonds accordingly [2][3][4]. Summary by Sections 1. Securities Suspension and Resumption - The company's convertible bonds, "Huayou Convertible Bonds," will suspend conversion from June 3, 2025, until the equity distribution registration date [2][4]. 2. Equity Distribution Plan - The equity distribution plan involves a cash dividend of 5 yuan per 10 shares, based on the total share capital minus shares held in the company's repurchase account [3]. - The plan was approved at the annual general meeting on May 9, 2025, and further details will be disclosed on May 10, 2025 [3]. 3. Adjustment of Convertible Bond Terms - Following the equity distribution, the conversion price of the convertible bonds will be adjusted according to the terms outlined in the bond issuance prospectus [3][4]. - The company will announce the specific adjustment details on June 4, 2025 [4]. 4. Contact Information - The company has provided contact details for inquiries related to the equity distribution and convertible bonds [5].

Market Overview - The Shanghai Composite Index fell by 0.18% on May 27, with 13 industries experiencing gains, led by textiles and apparel (up 1.30%) and pharmaceuticals (up 0.97%). The non-ferrous metals sector had the largest decline at 2.07% [2] - The net outflow of capital from the two markets was 19.519 billion yuan, with 8 industries seeing net inflows. The food and beverage sector led with a net inflow of 1.006 billion yuan and a daily increase of 0.17%, followed by pharmaceuticals with a net inflow of 650 million yuan and a daily increase of 0.97% [2] Non-Ferrous Metals Sector - The non-ferrous metals sector declined by 2.07%, with a total net capital outflow of 1.934 billion yuan. Out of 137 stocks in this sector, 20 rose while 115 fell [3] - Among the stocks with net inflows, Tianqi Lithium saw the highest inflow of 29.1255 million yuan, followed by Liyuan Co. and Jintian Titanium with inflows of 15.2085 million yuan and 15.1109 million yuan, respectively [3] - The stocks with the largest net outflows included Chifeng Gold (1.96 billion yuan), Yun Aluminum (998.792 million yuan), and Huayou Cobalt (838.327 million yuan) [3][5] Capital Flow in Non-Ferrous Metals - The top stocks with net inflows in the non-ferrous metals sector included: - Tianqi Lithium: +0.98%, 1.23% turnover, 29.1255 million yuan inflow - Liyuan Co.: +1.30%, 3.34% turnover, 15.2085 million yuan inflow - Jintian Titanium: +2.44%, 5.14% turnover, 15.1109 million yuan inflow [4] - The stocks with the largest net outflows included: - Chifeng Gold: -4.26%, 3.67% turnover, -195.8561 million yuan outflow - Yun Aluminum: -4.16%, 1.54% turnover, -99.8792 million yuan outflow - Huayou Cobalt: -0.26%, 1.04% turnover, -83.8327 million yuan outflow [5]

关于实施 2024 年度权益分派时 | 证券代码：603799 | 证券简称：华友钴业 | 公告编号：2025-057 | | --- | --- | --- | | 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 "华友转债"转股连续停牌的提示性公告 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。 重要内容提示： 因实施权益分派，"华友转债"将相应调整转股价格，具体以公司后续披露的 可转债转股价格调整公告为准。 一、权益分派方案的基本情况 （一）公司 2024 年度权益分派方案为：以实施权益分派股权登记日登记的总 股本扣除公司回购专用证券账户中股份数量后的股份总数为基数，向全体股东每 10 股派发现金股利 5 元（含税），不实施送股及资本公积金转增股本。如在实施权 益分派股权登记日前，公司总股本发生变动的，公司拟维持每股分配比例不变， 相应调整分配总额。 （二）本次权益分派实施方案已经公司于 2025 年 5 月 9 日召开的 2024 年年 度股东大会审议通过，具体内容详见公司于 2025 ...

证券研究报告 金属大典（2025年版） 行业评级：看好 2025年5月26日 n 邮箱 shenhaojun@stocke.com.c 证书编号 S1230523080011 证书编号 S1230523100001 邮箱 wangnanqing@stocke.com.cn 分析师 沈皓俊 分析师 王南清 研究助理 何玉静 沈家悦 张轩 01 铜业弹性表 | 添加标题 | | --- | 资料来源：公司年报，公司公告，公司公众号，浙商证券研究所。注： 2 2025-2027年产量数据为预测值，存在预测偏差风险。江西铜业 统计公司自有矿数据；云南铜业统计并表产量口径；金诚信2024-2026年产量中未统计Lubambe铜矿（因公告矿山处于技改阶段）。 电解铝股弹性表（2025年5月） 02 我们梳理了电解铝企业2025年产量弹性以及利润弹性： （1）从吨铝市值来看：目前云铝/宏桥最低，约为21000元/吨，中铝次之，电解铝资产较纯粹，资产价值亟待重估。 （2）从PE来看：由于产能基本固定，盈利能力成为电解铝公司比拼的核心要点，目前宏桥港股/神火/中铝港股PE 偏低。2025年氧化铝价格波动性走低，带动云铝/神火/ ...