Investment Rating - The report maintains a "Buy" rating for the company with a target price of 18.2 yuan based on a 35 times price-to-earnings ratio for 2026 [3][6]. Core Views - The company is expected to see a significant increase in net profit from 317 million yuan in 2025 to 767 million yuan in 2027, reflecting a growth rate of 98.6% and 63.7% respectively [3]. - The report highlights the rapid release of production capacity and the overall advancement of the magnesium industry chain, indicating a positive outlook for the company's future performance [2]. Financial Performance Summary - The company's revenue is projected to grow from 7,652 million yuan in 2023 to 13,621 million yuan in 2027, with a compound annual growth rate (CAGR) of approximately 10.1% [5]. - Operating profit is expected to increase from 368 million yuan in 2023 to 875 million yuan in 2027, with a notable growth of 49.2% in 2027 [5]. - The net profit attributable to the parent company is forecasted to rise from 306 million yuan in 2023 to 781 million yuan in 2027, with a significant recovery expected in 2025 [5]. Market and Industry Insights - The report notes that the price of magnesium is becoming more competitive, which is likely to accelerate market penetration [9]. - The company is positioned to benefit from the rising demand for magnesium alloys in electric bicycles, driven by new regulations that impose stricter weight limits [9]. - Breakthroughs in die-casting technology are expected to enhance the company's magnesium alloy deep processing business, leading to increased demand for magnesium components in the automotive sector [9].

Group 1 - Baowu Magnesium Industry (SZ 002182) announced that on September 26, 2025, it accepted an investor survey conducted by Galaxy Fund, with participation from Chairman Kong Xianghong and other executives [1] - For the first half of 2025, Baowu Magnesium's revenue composition was 97.17% from non-ferrous metal smelting and rolling processing, while other businesses accounted for 2.83% [1] Group 2 - The competition between Nongfu Spring and Yibao has intensified, with Nongfu Spring's green bottle launch leading to a significant market share decline for Yibao, dropping nearly 5 percentage points [1]

Resource Overview - The company has significant white marble resources: 0.9 billion tons at Chaohu Baomei and 5.8 billion tons at Wutai Baomei, with an additional 1.3 billion tons held by Anhui Baomei, which is not yet operational [3][4]. Magnesium Production Advantages - The company utilizes vertical furnace magnesium smelting technology, recognized in the national "14th Five-Year Plan" for its low energy consumption, high production efficiency, small footprint, low labor costs, and high automation [3][4]. Market Applications - Following the new national standards in 2024, the electric bicycle industry is rapidly adopting magnesium alloys to replace plastic components, with significant growth expected during the "15th Five-Year Plan" period [3][4]. - Major electric vehicle manufacturers are already using magnesium alloy components, leading to weight reduction, improved range, and enhanced shock absorption [3][4]. Future Plans - Over the next 3 to 5 years, the company aims to expand its scale and accelerate production across multiple bases, focusing on magnesium materials, particularly in the automotive sector [3][4]. - The company plans to increase the penetration of magnesium metal materials in various automotive components, including steering wheels and instrument panel supports [3][4]. Market Conditions - Magnesium prices have remained below aluminum prices, presenting unprecedented growth opportunities for magnesium alloy die-casting components [4]. Investor Relations Compliance - The company ensures compliance with information disclosure regulations, maintaining transparency and accuracy in communications with investors [4].

9月24日晚间，宝武镁业（002182）披露关于高级管理人员减持股份预披露公告。 因个人资金需求，公司董事会秘书吴剑飞计划以集中竞价交易方式或大宗交易方式减持其持有的公司股 份不超过700,000股（占公司总股本的0.07%，不超过其持有公司股份总数的25%），减持期间为公告披 露之日起15个交易日后的三个月内。 目前，吴剑飞女士持有公司股份3,353,571股（占公司总股本的0.34%）。 截至9月24日收盘，宝武镁业股价为15.64元/股，以此简单计算，吴剑飞如果按照披露的上限减持，预 计将套现超过千万。 宝武镁业成立于1993年11月30日，2007年11月13日，宝武镁业在深交所挂牌上市。 公司此前的名称是"云海金属"，后来宝钢入主之后，公司名称改为"宝武镁业"。 公司上市之初，吴剑飞持有宝武镁业134.4420万股，算是公司的原始股东。 根据公司招股书，最迟在2005年时，吴剑飞就在宝武镁业前身云海有限的职工持股会持有公司股份。职 工持股会解散后，其作为会员直接持有云海有限1.5%的股份。 | 序号 | 持股会会员 | 出资额(万元) | 持股比例(%) | | --- | --- | --- | ...

Core Points - Baowu Magnesium announced a share reduction plan by its board secretary, Wu Jianfei, who holds 3,353,571 shares, representing 0.34% of the company's total share capital [1] - Wu Jianfei plans to reduce her holdings by up to 700,000 shares, which accounts for 0.07% of the total share capital and no more than 25% of her total holdings [1] - The reduction period is set to begin 15 trading days after the announcement, lasting from October 27, 2025, to January 26, 2026 [1]

Core Viewpoint - Baowu Magnesium Industry (002182.SZ) announced that the company’s board secretary, Wu Jianfei, plans to reduce her shareholding by up to 700,000 shares, which represents 0.07% of the total share capital and 25% of her total holdings [1] Summary by Sections - **Shareholding Details** - Wu Jianfei currently holds 3,353,571 shares, accounting for 0.34% of the company's total share capital [1] - **Reduction Plan** - The planned reduction will occur through centralized bidding or block trading methods, with a maximum of 700,000 shares to be sold [1] - The reduction period is set to begin 15 trading days after the announcement, lasting from October 27, 2025, to January 26, 2026 [1]

证券代码：002182 证券简称：宝武镁业 公告编号：2025-41 宝武镁业科技股份有限公司 关于高级管理人员减持股份预披露公告 董事会秘书吴剑飞保证向本公司提供的信息内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一 致。 特别提示： 宝武镁业科技股份有限公司（以下简称"宝武镁业"或"公司"）于2025 年9月22日收到公司董事会秘书吴剑飞女士发出的《关于股份减持计划的告知 函》，吴剑飞女士持有公司股份3,353,571股（占公司总股本的0.34%），计划以 集中竞价交易方式或大宗交易方式减持其持有的公司股份不超过700,000股（占 公司总股本的0.07%，不超过其持有公司股份总数的25%），减持期间为本公告 披露之日起15个交易日后的三个月内（2025年10月27日-2026年1月26日）。 一、股东的基本情况 股东名称：吴剑飞，公司现任董事会秘书。 持股情况：截至本公告披露日，吴剑飞女士持有公司股份3,353,571股，占 公司总股本的0.34%。 二、减持计划的主要内容 1、本次拟减持的原因：个人资金需求 2、股份来源：所减 ...

Group 1 - Baowu Magnesium Industry announced a share reduction plan by its board secretary, Wu Jianfei, who holds approximately 3.35 million shares (0.34% of total shares) and plans to reduce up to 700,000 shares (0.07% of total shares, not exceeding 25% of her holdings) through centralized bidding or block trading from October 27, 2025, to January 26, 2026 [1] - For the first half of 2025, Baowu Magnesium Industry's revenue composition was 97.17% from non-ferrous metal smelting and rolling processing, with other businesses accounting for 2.83% [1] Group 2 - As of the report, Baowu Magnesium Industry's market capitalization is 15.5 billion yuan [2]

Core Viewpoint - Baowu Magnesium Industry's stock price has shown significant fluctuations, with a year-to-date increase of 39.98% and a recent decline of 4.50% over the last five trading days [1][2] Company Overview - Baowu Magnesium Industry Co., Ltd. is located in Nanjing, Jiangsu Province, established on November 30, 1993, and listed on November 13, 2007. The company specializes in the production and deep processing of magnesium and aluminum alloy materials [1] - The main business revenue composition includes: aluminum alloy extrusion products (35.90%), magnesium alloy products (26.03%), intermediate alloys (13.14%), magnesium-aluminum alloy die-casting products (11.10%), aluminum alloy products (6.67%), and others [1] Financial Performance - For the first half of 2025, Baowu Magnesium Industry achieved operating revenue of 4.352 billion yuan, a year-on-year increase of 6.78%, while the net profit attributable to shareholders decreased by 46.47% to 64.1242 million yuan [2] - The company has distributed a total of 738 million yuan in dividends since its A-share listing, with 206 million yuan distributed in the last three years [3] Shareholder Information - As of September 20, 2025, the number of shareholders increased to 62,400, with an average of 13,861 circulating shares per person, a decrease of 3.11% [2] - Major shareholders include Hong Kong Central Clearing Limited, which holds 12.2277 million shares, and Southern CSI 1000 ETF, which holds 6.4054 million shares, both showing increases in holdings [3]

Core Insights - Baowu Magnesium Industry (002182) reported a net financing purchase of 1.3963 million yuan on September 23, 2025, with a financing balance of 921 million yuan, indicating a positive investor sentiment [1][4]. Financing Activity - On September 23, 2025, the financing buy amounted to 88.8413 million yuan, while financing repayment was 87.445 million yuan, resulting in a net financing purchase of 139.63 thousand yuan [1]. - Over the past three trading days, the cumulative net financing purchase reached 698.78 thousand yuan, with 12 out of the last 20 trading days showing net financing purchases [1]. - The financing balance on September 23 was 921 million yuan, representing a 0.1% increase from the previous day [4]. Margin Trading - On September 23, 2025, the margin trading balance was 922 million yuan, with a slight increase of 88.30 thousand yuan [4]. - The margin trading activity included a short selling of 11,000 shares and a repayment of 44,800 shares, resulting in a net short selling of 33,800 shares [2][3]. Market Sentiment - The increase in financing balance suggests a bullish market sentiment, indicating that investors are leaning towards buying [5].