Group 1 - The core viewpoint of the article highlights the increasing adoption of magnesium alloys in the electric vehicle industry due to their lightweight, electromagnetic shielding, and vibration damping properties [1] - As of August 29, 2025, the number of shareholders for Baowu Magnesium Industry is reported to be 56,894 [1] - Leading electric vehicle companies such as Aima, Yadi, and Niu have begun using magnesium alloy components in their products, leading to significant weight reduction, improved range, and enhanced shock absorption [1] Group 2 - The article indicates that the shift towards magnesium alloys will dilute production costs and create a cost advantage over aluminum alloys, thereby promoting the growth of magnesium applications [1] - Following the release of new national standards in 2024, companies across the electric vehicle supply chain have actively initiated the replacement of plastic parts with magnesium alloys [1] - It is expected that during the "14th Five-Year Plan" period, the usage of magnesium in electric two-wheelers will continue to increase rapidly [1]

Core Insights - Baowu Magnesium Industry (002182) reported steady revenue growth in the first half of 2025, achieving operating income of 4.352 billion yuan, a year-on-year increase of 6.78%, and a net profit attributable to shareholders of 64.1242 million yuan, showcasing its strong capabilities and forward-looking layout in the magnesium industry chain [1][2] Revenue and Profitability - The company’s complete industry chain layout from "bauxite mining - primary magnesium smelting - magnesium alloy melting - magnesium alloy processing - magnesium alloy recycling" has effectively reduced production costs and improved resource utilization efficiency, ensuring stable product quality and reliable supply [1] - In the magnesium materials business, Baowu Magnesium maintained its market leadership, with magnesium alloy products generating revenue of 1.133 billion yuan despite price fluctuations, achieved through product structure optimization and enhanced production efficiency [1] Market Expansion and Internationalization - The company has made significant progress in internationalization, increasing efforts to expand overseas markets, enhancing local service capabilities, and optimizing the overseas sales network, resulting in steady growth in overseas business scale and market share [1] Technological Innovation - Baowu Magnesium has increased R&D investment to drive product iteration and upgrade, successfully developing high-performance self-researched alloys for application in the drone industry, providing solid technical support for industry chain extension [2] Future Outlook - The excellent performance in the first half of 2025 highlights the company's deep accumulation and market competitiveness in the magnesium industry chain, indicating a promising future with broader development space and opportunities as the global magnesium market continues to grow and technology advances [2]

Investment Rating - The report maintains a "Buy" rating for the company [4][6]. Core Views - The company reported a revenue of 4.352 billion RMB for H1 2025, a year-on-year increase of 6.78%, but a net profit of 64.12 million RMB, down 46.47% year-on-year, primarily due to declining magnesium prices affecting the profitability of magnesium alloys [1][2]. - The current magnesium prices are seen as favorable for promoting magnesium applications, and the company is expected to rebound as it collaborates closely with industry giants [1][4]. Summary by Sections Financial Performance - In H1 2025, the company achieved a revenue of 4.352 billion RMB, with a year-on-year growth of 6.78%. The net profit was 64.12 million RMB, reflecting a year-on-year decline of 46.47% due to lower magnesium prices impacting the gross margin of magnesium alloys [1][2]. - Q2 2025 revenue was 2.319 billion RMB, up 4.85% year-on-year and 14.08% quarter-on-quarter, with a net profit of 35.94 million RMB, down 39.15% year-on-year but up 27.52% quarter-on-quarter [1]. Market Outlook - The magnesium price fluctuated between 15,000 and 17,000 RMB per ton in the first half of 2025, with the magnesium-aluminum ratio dropping to a historical low of 0.8-0.9, enhancing the cost-effectiveness of magnesium materials and supporting the expansion of downstream applications [2][3]. Strategic Initiatives - The company is actively expanding its applications in the magnesium sector, particularly in electric bicycles, driven by new national standards. It has established partnerships with major clients such as ZF, Geely, and others, focusing on large magnesium castings for various applications [3][4]. - The company has formed specialized teams to explore markets related to "low-altitude economy," "humanoid robots," and "electric bicycles," conducting market research and developing new products [3]. Valuation - The report projects earnings per share (EPS) of 0.42, 0.67, and 0.94 RMB for 2025, 2026, and 2027, respectively. The target price is set at 17.31 RMB, based on a price-to-earnings (PE) ratio of 41.2x for 2025 [4][10].

Core Insights - The company reported a total revenue of 4.352 billion yuan, ranking 6th among disclosed peers, with a year-on-year increase of 6.78% [1] - The net profit attributable to shareholders was 64.1242 million yuan, ranking 12th among peers, showing a significant decline of 46.47% year-on-year [1] - Operating cash flow increased to 516 million yuan, ranking 5th among peers, with a substantial year-on-year increase of 328.83% [1] Financial Metrics - The latest debt-to-asset ratio is 55.37%, ranking 14th among peers, with an increase of 1.33 percentage points from the previous quarter and 4.35 percentage points from the same period last year [3] - The gross profit margin stands at 10.23%, ranking 16th among peers, with a slight increase of 0.51 percentage points from the previous quarter but a decrease of 1.62 percentage points year-on-year [3] - Return on equity (ROE) is at 1.20%, ranking 16th among peers, down by 1.06 percentage points from the same period last year [3] - The diluted earnings per share is 0.06 yuan, ranking 14th among peers, reflecting a decrease of 46.44% year-on-year [3] - Total asset turnover is 0.32 times, ranking 10th among peers, down by 6.82% year-on-year [3] - Inventory turnover is 2.68 times, ranking 2nd among peers, with a year-on-year increase of 0.68% [3] Shareholder Information - The number of shareholders is 55,900, with the top ten shareholders holding 444.5 million shares, accounting for 44.87% of the total share capital [4]

Group 1 - The company Baowu Magnesium announced the convening of its seventh board meeting on August 27, 2025, to discuss the election of the chairman [1] - The meeting was held in person and reviewed several documents, including the proposal for the election of the chairman [1]

根据《公司章程》规定，董事长为公司的法定代表人，公司法定代表人相 应变更为孔祥宏先生。公司近日将依据规定办理工商登记变更事宜，具体以工 商行政管理部门登记为准。 二、本次变更对公司的影响 本次变更不会导致公司所属行业发生变化，不会导致公司主营业务发生变 化，不会对公司生产、经营产生不利影响。 特此公告。 证券代码：002182 证券简称：宝武镁业 公告编号：2025-39 宝武镁业科技股份有限公司 关于拟变更公司法定代表人的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚 假记载、误导性陈述或者重大遗漏。 一、基本情况 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8月27日召开了第七届董事会第十次会议，审议通过了《关于选举公司董事长 的议案》，同意选举孔祥宏先生为公司第七届董事会董事长，任期自本次董事 会审议通过之日起至第七届董事会任期届满之日止。 宝武镁业科技股份有限公司 董事会 2025年8月28日 ...

1、最终交易价格将按照产权交易所相关规定和程序依据公开挂牌竞价结果 确定。 证券代码：002182 证券简称：宝武镁业 公告编号：2025-40 宝武镁业科技股份有限公司 关于拟公开挂牌转让公司盱眙资产的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚 假记载、误导性陈述或者重大遗漏。 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"）拟通过 公开挂牌的方式出售公司位于淮安市盱眙县盱眙经济开发区枫杨大道西侧的工业房地 产及机械设备，挂牌底价为11,654.3331万元（不含增值税），挂牌价格以具有证券、 期货相关业务资格的中资资产评估有限公司以2025年4月30日为基准日对上述资 产的评估价值（评估价值以经宝武集团备案的结果为准）为依据，董事会同意 公司管理层按照国有资产转让相关程序及规定进行转让。 2、本次交易不构成《上市公司重大资产重组管理办法》规定的重大资产重 组。由于本次交易将以公开挂牌交易的方式进行，最终交易对方、交易价格等 存在不确定性，目前无法判断是否构成关联交易。根据最终交易结果，若构成 关联交易，公司届时将按照相关规定履行相应决策程序及信息披露义务。本 ...

宝武镁业科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：万元 非经营性资金占 用 资金占用方名称 占用方与 上市公司 的关联关 系 上市公司核 算的会计科 目 2025 年期初 占用资金余 额 2025年 1-6 月占用 累计发生金额（不 含利息） 2025 年 1-6 月占用资金 的利息（如 有） 2025 年 1-6 月 偿还累计发生 金额 2025年6月 末占用资 金余额 占用形 成原因 占用性 质 控股股东、实际 控制人及其附属 企业 非经营 性占用 小 计 - - - - - 前控股股东、实 际控制人及其附 属企业 非经营 性占用 小 计 - - - - - 其他关联方及其 附属企业 非经营 性占用 小 计 - - - - - 总 计 - - - - - —— —— | 其它关联资金往 | | 往来方与 上市公司 | 上市公司核 | 2025 年期初 | 2025年 1-6 月占用 | 2025 年 1-6 月占用资金 | 2025 年 1-6 月 | 2025年6月 | 往来形 | 往来性 质（经营 | | --- | --- | --- | --- | - ...

宝武镁业科技股份有限公司 2025 年半年度财务报告 宝武镁业科技股份有限公司 2025 年半年度财务报告 二〇二五年八月 1 宝武镁业科技股份有限公司 2025 年半年度财务报告 财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 437,295,037.52 | 245,219,166.93 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 150,319,686.49 | | | 衍生金融资产 | | | | 应收票据 | 39,301,175.00 | 42,592,534.55 | | 应收账款 | 2,041,568,351.37 | 2,152,314,883.96 | | 应收款项融资 | 357,869,587.20 | 325,316,282.58 | | 预付款项 | 92,880,431.18 | 115,958,561.89 | | 应收保费 | | | | 应收分保 ...

证券代码：002182 证券简称：宝武镁业 公告编号：2025-35 宝武镁业科技股份有限公司 2025 年第二次临时股东会决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，不存在虚假记载、 误导性陈述或者重大遗漏。 重要提示： ● 本次股东会召开期间无增加、否决或变更议案的情况； 3、会议召开方式及召开时间 （1）现场会议时间：2025年8月27日（星期三）下午14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为 2025年8月27日（星期三）上午9:15－9:25，9:30－11:30，下午13:00－15:00。通过 深圳证券交易所互联网投票系统投票的具体时间为2025年8月27日（星期三）上午 9:15至下午15:00期间的任意时间。 ● 本次股东会以现场表决与网络表决相结合的方式召开。 一、会议召开情况 1、会议召集人：宝武镁业科技股份有限公司董事会 2、会议主持人：副董事长闻发平先生 4、会议地点：宝武镁业科技股份有限公司会议室。 5、会议的召集、召开与表决程序符合《公司法》《深圳证券交易所股票上市规 则》及《公司章程》等法律、法规及规范性文件的规定。 ...