证券代码：002182 证券简称：宝武镁业 公告编号：2024-52 宝武镁业科技股份有限公司 2024 年第五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； ● 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：董事长梅小明先生 3、会议召开方式及召开时间 （1）现场会议时间：2024年11月14日（星期四）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 2024年11月14日（星期四）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2024年11月14日（星期四）上午 9:15至下午15:00期间的任意时间。 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 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [4][13]. Core Views - The company's revenue for the first three quarters of 2024 reached 6.347 billion yuan, a year-on-year increase of 14.1%, while the net profit attributable to shareholders was 154 million yuan, a year-on-year decrease of 25.9% [1][2]. - The company is advancing its complete magnesium industry chain, with significant production capacity expected from its six magnesium alloy automotive die-casting bases [2]. - The profitability is currently impacted by declining magnesium prices, but there is an expectation for improvement as the company expands its deep processing business and as magnesium prices stabilize [2][3]. Financial Performance Summary - For Q3 2024, the company achieved revenue of 2.271 billion yuan, a year-on-year increase of 11.9% and a quarter-on-quarter increase of 2.7% [1][2]. - The gross profit margin for the first three quarters was 11.48%, with a Q3 margin of 10.8%, reflecting a decrease due to lower raw magnesium prices [2]. - The average price of magnesium ingots in Q3 was 20,140 yuan per ton, showing a slight increase of 0.37% from the previous quarter [2]. Industry Insights - The magnesium industry is undergoing a supply-side restructuring, with China supplying over 80% of the world's raw magnesium, but facing short-term supply constraints due to environmental regulations [2]. - The demand for magnesium alloys is expected to grow significantly, particularly in the automotive sector, with a projected compound annual growth rate (CAGR) of 54% from 2023 to 2026 [2]. - The report emphasizes the historical opportunity for magnesium to evolve from a "small" metal to a "large" metal, driven by diverse demand and the company's capacity expansion [2].

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company achieved operating revenue of 6.347 billion yuan in the first three quarters of 2024, a year-on-year increase of 14.09%, while the net profit attributable to shareholders decreased by 25.88% [2] - The persistent low magnesium prices have negatively impacted the company's performance, with the average price of magnesium ingots down 17.22% year-on-year as of October 25, 2024 [2] - The company is advancing its Qingyang project and expanding downstream applications, which are expected to become new profit growth points [2] - The investment suggestion indicates that with the gradual production of new projects, the company's original magnesium and deep processing capacity is expected to increase significantly [2] Summary by Sections Financial Performance - In Q3 2024, the company reported operating revenue of 2.271 billion yuan, a year-on-year increase of 11.86% and a quarter-on-quarter increase of 2.68%. The net profit attributable to shareholders was 34 million yuan, down 60.55% year-on-year and down 42.49% quarter-on-quarter [2] - The company’s gross profit margin for magnesium alloy products was 14.31% in the first half of the year, despite the low magnesium prices [2] Project Development - The Qingyang project is progressing steadily, with the successful completion of the third tunnel of the Anhui Baomei mineral product transportation corridor on September 5 [2] - The company has partnered with Suzhou Huichuan Power to launch magnesium alloy lightweight electric drive assemblies, which are expected to be significant growth points in the automotive sector [2] Future Projections - The company’s revenue projections for 2024-2026 are 8.387 billion yuan, 12.314 billion yuan, and 21.733 billion yuan, respectively. The net profit attributable to shareholders is projected to be 203 million yuan, 626 million yuan, and 1.007 billion yuan for the same period [3] - The earnings per share (EPS) are expected to be 0.29 yuan, 0.88 yuan, and 1.42 yuan for 2024, 2025, and 2026, respectively [3]

Investment Rating - The investment rating for the company is "Outperform the Market" [4][17]. Core Views - The company's net profit for Q1-Q3 2024 decreased by 26% year-on-year, with revenue reaching 6.35 billion yuan, an increase of 14.1%. The decline in profit is primarily attributed to falling magnesium prices, which dropped from an average of 30,655 yuan/ton in 2022 to 18,000 yuan/ton in Q3 2024 [1][6]. - The company is in a phase of accelerated capacity expansion, with plans to build new production facilities that will increase its total capacity to 550,000 tons of raw magnesium and 600,000 tons of magnesium alloys [1][2]. - The price of magnesium has returned to a reasonable range, enhancing its cost-effectiveness compared to aluminum, which is expected to open new opportunities in various applications such as solid-state energy storage and automotive components [2][16]. Summary by Sections Financial Performance - For Q1-Q3 2024, the company achieved a revenue of 6.35 billion yuan (+14.1%) and a net profit of 154 million yuan (-25.9%). The operating cash flow was 58 million yuan, down 73.5% [1][6]. - The average price of magnesium ingots has significantly decreased, impacting profitability [1][6]. Capacity Expansion - The company currently has over 100,000 tons of raw magnesium capacity and 200,000 tons of magnesium alloy capacity, with ongoing projects to further increase production [1][2]. - New projects include 50,000 tons of raw magnesium capacity in Chao Lake and 300,000 tons in Qingyang [1][2]. Market Outlook - The magnesium price has dropped to approximately 0.9 times that of aluminum, highlighting its competitive advantage [2][16]. - The company has established multiple partnerships with major automotive manufacturers, indicating a positive outlook for magnesium alloy applications [2][17]. Profit Forecast - The profit forecast for 2024-2026 has been adjusted, with expected net profits of 287 million yuan, 477 million yuan, and 734 million yuan respectively, reflecting a year-on-year growth rate of -6.5%, 66.6%, and 53.7% [2][17]. - The diluted EPS is projected to be 0.40 yuan, 0.67 yuan, and 1.04 yuan for the respective years, with corresponding PE ratios of 26x, 15x, and 9x [2][17].

Investment Rating - The report maintains a "Buy" rating for Baowu Magnesium Industry (002182.SZ) [2] Core Views - The company's performance is under pressure due to a decline in magnesium prices, although deep-processing product sales have increased year-on-year [2] - In Q3 2024, the company reported a revenue of 2.271 billion yuan, a year-on-year increase of 11.86%, while net profit attributable to shareholders decreased by 60.55% to 33.9727 million yuan [2][3] - The average price of magnesium ingots in Q3 2024 was 19,480.78 yuan/ton, down 18.48% year-on-year [3] Summary by Sections Financial Performance - For Q1-Q3 2024, the company achieved a total revenue of 6.347 billion yuan, up 14.09% year-on-year, but net profit attributable to shareholders fell by 25.88% to 154 million yuan [2] - The company’s revenue projections for 2024-2026 are 8.978 billion, 12.414 billion, and 16.394 billion yuan respectively, with net profits expected to be 306 million, 705 million, and 958 million yuan [5][9] Production Capacity - The company has rich resources of dolomite, with production bases expected to reach an annual capacity of over 500,000 tons of raw magnesium and magnesium alloys once fully operational [3] Downstream Applications - The company is expanding into various fields such as die-casting and hydrogen storage, with significant developments in magnesium alloy automotive die-casting components and strategic partnerships for magnesium-based hydrogen storage [4] Market Outlook - The report anticipates that the company will leverage its integrated industrial chain advantages to continue growth despite the current challenges posed by falling magnesium prices [5]

证券代码：002182 证券简称：宝武镁业 公告编号：2024-51 宝武镁业科技股份有限公司（以下简称"宝武镁业"或"公司"）定于2024 年11月14日（星期四）召开公司2024年第五次临时股东会，审议董事会提交的相 关议案。就召开本次股东会的相关事项通知如下： 一、会议召开基本情况 1.会议届次：2024 年第五次临时股东会 2.会议召集人：公司董事会 3.会议召开的合法、合规性：公司第七届董事会第五次会议决议召开本次股 东会。本次股东会的召开符合《中华人民共和国公司法》《上市公司股东大会规 则》等有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 4.会议召开时间 （1）现场会议时间：2024 年 11 月 14 日（星期四）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 2024 年 11 月 14 日（星期四）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 2024 年 11 月 14 日（星期四）上午 9:15 至下午 15:00 期间的任意时间。 宝武镁业科 ...

核查意见 华泰联合证券有限责任公司 关于宝武镁业科技股份有限公司为参股子公司提供担保暨 关联交易的核查意见 作为宝武镁业科技股份有限公司（以下简称"宝武镁业"或"公司"）向特定对 象发行股票持续督导阶段的保荐人，根据《证券发行上市保荐业务管理办法》《深 圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管指引第 13 号— —保荐业务》等有关规定，华泰联合证券有限责任公司（以下简称"华泰联合证 券"）对宝武镁业为参股子公司提供担保暨关联交易事项进行了核查，核查情况 如下： 为满足日常经营发展资金需求，公司参股子公司宜安云海拟向相关金融机构 申请不超过人民币 26,000.00 万元授信额度，公司及宜安云海另一股东东莞宜安 科技股份有限公司按各自持股比例提供担保。公司持有宜安云海 40.00%的股权， 即公司的担保额度为 10,400.00 万元。 单位：万元 | 担保方 | 被担保方 | 担保方持 | 被担保方 最近一期 | 截至目前 | 本次新增 | 担保额度占上 市公司最近一 | 是否 关联 | | --- | --- | --- | --- | --- | --- | --- | --- | | ...

证券代码：002182 证券简称：宝武镁业 公告编号：2024-49 宝武镁业科技股份有限公司 第七届董事会第五次会议决议公告 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。 宝武镁业科技股份有限公司（以下简称"宝武镁业"或"公司"）第七届董 事会第五次会议于 2024 年 10 月 25 日在公司会议室以现场形式召开，会议通知 已于 2024 年 10 月 14 日以书面及电子邮件方式通知全体董事、监事及高级管理 人员，并通过电话确认。会议应到董事 11 人，实到董事 11 人。公司监事及高级 管理人员列席了会议。会议召开符合法律、法规及《公司章程》的相关规定。 公司 2024 年第三季度报告详见巨潮资讯网(www.cninfo.com.cn)、《证券时报》、 《中国证券报》。 会议由董事长梅小明先生主持，出席会议的董事以现场书面表决方式审议并 通过了如下议案： 一、审议并通过了《关于 2024 年第三季度报告的议案》 议案表决情况：11 票同意、0 票反对、0 票弃权。 三、审议并通过了《关于为参股子公司巢湖宜安云海科技有限公司提供担保 暨关联交易的议案》 ...

证券代码：002182 证券简称：宝武镁业 公告编号：2024-50 宝武镁业科技股份有限公司 第七届监事会第四次会议决议公告 本公司及监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。 公司 2024 年第三季度报告详见巨潮资讯网(www.cninfo.com.cn)、《证券时 报》、《中国证券报》。 宝武镁业科技股份有限公司（以下简称"宝武镁业"或"公司"）第七届监 事会第四次会议于 2024 年 10 月 25 日在公司会议室召开，会议通知已于 2024 年 10 月 14 日以书面和电子邮件方式发出，并通过电话确认。会议应参加监事 5 人， 实际参加监事 5 人。会议召开符合法律、法规及《公司章程》的相关规定。 会议由蔡正青先生主持，出席会议的监事以现场书面表决方式审议并通过了 以下议案： 一、审议并通过了《关于 2024 年第三季度报告的议案》 议案表决情况：同意 5 票，反对 0 票，弃权 0 票。 二、审议并通过了《关于为参股子公司巢湖宜安云海科技有限公司提供担保 暨关联交易的议案》 监事会经过审核认为：公司为参股子公司宜安云海向金融机构申请授信额度 提供担 ...

（以下无正文） 1 宝武镁业科技股份有限公司独立董事 关于公司第七届董事会第五次会议相关事项的 专门会议审核意见 根据《上市公司独立董事管理办法》、《深圳证券交易所股票上市规则》、《上 市公司自律监管指引第 1 号——主板上市公司规范运作》及《公司章程》等有关 规定，作为宝武镁业科技股份有限公司（以下简称"宝武镁业"或"公司"）的独立 董事，在审阅相关资料后，现对公司第七届董事会第五次会议审议的有关事项发 表意见如下： 一、对为参股子公司巢湖宜安云海科技有限公司提供担保暨关联交易的专门 会议意见 根据《深圳证券交易所股票上市规则》、《深圳证券交易所上市公司自律监管 指引第 1 号——主板上市公司规范运作》、《上市公司独立董事管理办法》等相关 法律、法规、规范性文件及公司章程的规定，我们作为独立董事，对公司提供的 《关于为参股子公司巢湖宜安云海科技有限公司提供担保暨关联交易的议案》进 行了审核，经过认真审阅该关联交易事项相关资料，并且与公司相关人员进行有 效沟通之后，我们认为： 《关于为参股子公司巢湖宜安云海科技有限公司提供担保暨关联交易的议 案》的决议程序合法、合规，依据充分，符合《公司法》《公司章程》以及相 ...