分析师 1: 好的。 袁澎 长江证券金属分析师: 好的，各位投者，大家下午好，我是长江金属王浩涛团队的于峰。那今天 3 点钟我们也是 邀请到咱海亮股份的董秘彭总跟我们做个最新的开门红的电话会议，也祝愿咱开门大吉， 金马腾飞。下面有请童总这边先大致回顾一下我们整个 25 年经营情况，然后也可以对我 们 26 年以及 27 年做一个大致掌握。 海亮股份董秘彭总: 各位老师，叶叶老师新年好，祝大家开工大吉。25 年你给我出了个小难题，叫我回顾 25 年的，咱不是今天，现在是在说这个开工的情况吗？我没有特别去准备，然后确实也不太 方便。但是我想其实结合着，要不就结合着这个，我本来给你准备的，因为方便你了解我 们这个今年 26 年的整个几个板块的一些情况，然后再结合着 25 年我们大概来说一下，你 看这样可以吗？哦。好的，那我们好的。对，是的，反正我们长江做做这个研究都是很扎 实的，所以我还是很认真的去跟我们的几个板块，那我是在昨天，因为想着初期，就是跟 大家把这个一二月份的情况，还有过年的一个情况，可以跟大家先做一下报告。 那么还是分成几块吧，就是，因为海亮现在我们主要是一个铜管铜棒，对吧？然后还有一 个铜箔。那我其 ...

截至2026年2月24日收盘，海亮股份（002203）报收于14.33元，较前一交易日上涨1.49%，最新总市值 为328.41亿元。该股当日开盘14.31元，最高14.44元，最低13.83元，成交额达4.05亿元，换手率为 1.29%。 近日，海亮股份发布《关于召开2026年第二次临时股东会的通知》。公告显示，公司将于2026年3月3日 召开2026年第二次临时股东会，现场会议时间为14:30，网络投票时间为当日9:15至15:00。会议由董事 会召集，股权登记日为2026年2月26日。审议事项包括《关于2026年度开展商品期货套期保值业务的议 案》。中小投资者表决将单独计票。股东可现场参会或通过网络投票，登记截止时间为2026年2月27 日。会议地点为浙江省杭州市滨江区协同路368号海亮科研大厦会议室。 《关于2026年度开展商品期货套期保值业务的公告》 《浙江海亮股份有限公司关于召开2026年第二次临时股东会的通知》 《第九届董事会第八次会议决议公告》 最新公告列表 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

2020-2025年中国精炼铜(电解铜)产量统计图 数据来源：国家统计局，智研咨询整理 上市企业：江西铜业（600362）,云南铜业（000878）,紫金矿业（601899）,铜陵有色（000630）,西部矿 业（601168）,白银有色（601212）,楚江新材（002171）,海亮股份（002203）,鑫科材料（600255）,锡 业股份（000960） 相关报告：智研咨询发布的《2026-2032年中国电解铜箔行业市场现状分析及投资前景评估报告》 根据国家统计局数据显示：2025年12月中国精炼铜(电解铜)产量为133万吨，同比增长9.1%；2025年1- 12月中国精炼铜(电解铜)累计产量为1472万吨，累计增长10.4%。 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

Core Viewpoint - The lithium battery copper foil industry is crucial for lithium-ion battery performance, accounting for approximately 5%-10% of total battery costs, with a tightly linked supply chain in China that influences costs, supply, and demand [1][5][6]. Group 1: Industry Overview - Lithium battery copper foil is a core material for the negative electrode current collector in lithium-ion batteries, impacting energy density, cycle life, and safety [2][7]. - The global lithium-ion battery shipment volume is projected to reach 2,280.5 GWh by 2025, with expectations to exceed 3,016 GWh in 2026, driven by the growth of the electric vehicle market [1][6]. - China's lithium battery industry is leading globally, with a projected 2025 shipment volume of 1,888.6 GWh, accounting for 82.8% of global shipments [8]. Group 2: Market Dynamics - The copper foil industry is experiencing rapid growth, with domestic shipments expected to reach 940,000 tons in 2025, a year-on-year increase of over 36% [8][9]. - The market is shifting towards ultra-thin copper foil products, with 5μm and below gaining significant traction due to their advantages in energy density and cost savings [9][10]. Group 3: Competitive Landscape - The competitive landscape is becoming increasingly concentrated, with the top 10 companies expected to account for nearly 80% of shipments by 2025, reflecting a trend of resource consolidation towards leading firms [10][11]. - Key players in the industry include DeFu Technology, Longdian Huaxin, and Jiayuan Technology, which dominate the market due to their technological and production capabilities [10][11]. Group 4: Future Trends - The industry is expected to focus on three core directions: continued emphasis on ultra-thin products, deepening supply chain integration, and diversification strategies to enhance resilience against market fluctuations [10][12][13]. - Companies will increasingly pursue global expansion and product diversification to mitigate risks and tap into new profit growth areas [13].

Core Viewpoint - Hailiang Co., a leading global copper processing company, has submitted its main board listing application to the Hong Kong Stock Exchange, marking a strategic shift from traditional manufacturing to becoming a technology-driven global materials solution provider [1][8] Business Matrix Redefinition - The prospectus outlines four key business segments: HVAC and industrial copper processing products (core), lithium battery and PCB copper foil products (growth point one), AI application copper-based material solutions (growth point two), and aluminum-based products [3] - The independent listing of "AI application copper-based material solutions" signifies a shift in the company's strategic focus and the visibility of its core technological value [3] Challenges and Opportunities - Historically, Hailiang has been associated with "cyclical" and "thin profit margin" labels due to its traditional business model of "raw material cost + processing fee," which is sensitive to commodity price fluctuations [3] - In 2024, while revenue is expected to grow, profit pressures indicate challenges in this model, but recent technological advancements and customer breakthroughs suggest a clear second growth curve in high-end precision thermal management solutions [3][6] Technological Transformation - The transformation is driven by the demand for extreme cooling efficiency in AI and high-performance computing, where traditional cooling methods have reached their limits [6] - Hailiang's proprietary high-performance copper-based materials have become integral to top-tier computing chip cooling solutions, with a significant increase in order volume in the first half of 2025 [6] Capital Infusion for R&D - The funds raised from the Hong Kong listing will partially enhance the company's R&D capabilities in advanced copper-based material solutions, allowing for greater investment in new alloy materials, precision processing techniques, and structural design simulations [6] Global Manufacturing Network - Hailiang's manufacturing network is evolving from "capacity output" to "strategic layout," with its Texas plant serving as a key strategic asset amid changing global trade dynamics [7] - The local production capacity in the U.S. acts as a "passport" and profit stabilizer, reflecting the company's deep and flexible global operations [7] Dual-Driven Strategy - The Hong Kong listing is seen as an accelerator for Hailiang's "dual-driven" strategy, focusing on "technology-driven" growth and "global operations" [7] - The company aims to attract long-term technology-focused capital to support advanced materials R&D and to optimize its financial structure for robust overseas localization [7] Identity Transformation - Hailiang is striving to transition from a "Chinese leader" to a "global value-oriented enterprise," with the success of its H-share listing being a crucial milestone in this transformation process [8]

Group 1 - The company held its ninth board meeting on February 11, 2026, where all nine directors were present, and the meeting was conducted in accordance with legal requirements [1][2][3] - The board approved the establishment of a technology joint research center with Tsinghua University, with an investment of 50 million yuan, which is not expected to have a significant short-term impact on the company's performance [2] - The board also approved the proposal for the company to conduct commodity futures hedging business for the year 2026, which will be submitted for shareholder approval [4][9] Group 2 - The purpose of the hedging business is to mitigate risks associated with price fluctuations of raw materials such as copper, zinc, aluminum, nickel, and lead, which are essential for the company's production [10] - The company plans to invest up to 3 billion yuan in the hedging business using its own funds, with the investment period lasting for 12 months from the date of shareholder approval [11][13] - The hedging activities will be limited to raw materials directly related to the company's operations, and the company will implement strict internal controls and risk management measures [12][18] Group 3 - A second extraordinary general meeting of shareholders is scheduled for March 3, 2026, to discuss the approved proposals from the board meeting [6][20] - The meeting will allow for both on-site and online voting, with specific timeframes for participation [23][24] - Shareholders must register to attend the meeting, and detailed procedures for voting and registration have been outlined [30][31]

每经头条（nbdtoutiao）——打造百万元级尊界的江淮，迎来葛卫东、方文艳联手投资：两人各掏10亿 元，公司股价应声大涨！复盘历史：牛散参与定增有赚也有亏 （记者 曾健辉） 每经AI快讯，海亮股份2月12日晚间发布公告称，公司第九届第八次董事会会议于2026年2月11日在浙 江省杭州市滨江区协同路368号海亮科研大厦公司会议室召开。会议审议了《关于2026年度开展商品期 货套期保值业务的议案》等文件。 ...

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，并对公告中 的虚假记载、误导性陈述或者重大遗漏承担责任。 浙江海亮股份有限公司 关于 2026 年度开展商品期货套期保值业务的公告 2026 年 2 月 11 日，浙江海亮股份有限公司（以下简称"公司"或"海亮股 份"）第九届董事会召开第八次会议审议通过了《关于 2026 年度开展商品期货 套期保值业务的议案》，该议案需提交公司 2026 年第二次临时股东会审议。现 将相关事项公告如下。 证券代码：002203 证券简称：海亮股份 公告编号：2026-017 一、开展套期保值业务的基本情况 1.开展套期保值业务的目的 1 / 3 月内，在有效期内额度可循环滚动使用。如单笔交易的存续期限超过了授权期 限，则授权期限自动顺延至该笔交易终止时止。 5.会计政策及考核原则 公司及子公司主要生产铜管、铜棒、铜箔、铜管接件、导体材料、铝型材 等产品，产品主要原材料为铜、锌、铝、镍、铅等大宗商品，单位价值较高， 为有效防范和化解公司主要原材料价格波动风险，维护公司及股东利益，公司 利用期货工具对生产经营所需的原材料开展套期保值业务。 2.投资额度及资金来源 公司拟在股东 ...

证券代码：002203 证券简称：海亮股份 公告编号：2026-016 浙江海亮股份有限公司 一、召开会议的基本情况 1.股东会届次：2026 年第二次临时股东会 2.股东会的召集人：董事会 3.本次会议的召集、召开符合《中华人民共和国公司法》《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 1 号——主板上市公司规范运作》等法 律、行政法规、部门规章、规范性文件及《公司章程》的有关规定。 4.会议时间： （1）现场会议时间：2026 年 3 月 3 日 14:30 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2026 年 3 月 3 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票 的具体时间为 2026 年 3 月 3 日 9:15 至 15:00 的任意时间。 关于召开 2026 年第二次临时股东会的通知 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重 大遗漏。 （3）公司聘请的律师。 8.会议地点：浙江省杭州市滨江区协同路 368 号海亮科研大厦会议室。 二、 ...

证券代码：002203 证券简称：海亮股份 公告编号：2026-015 浙江海亮股份有限公司 第九届董事会第八次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 浙江海亮股份有限公司（以下简称"公司"）第九届董事会第八次会议通 知于 2026 年 2 月 10 日以电子邮件、电话传真或送达书面通知的方式发出，会议 于 2026 年 2 月 11 日上午在浙江省杭州市滨江区协同路 368 号海亮科研大厦公司 会议室召开，本次会议以通讯表决方式召开，会议应到董事九名，实到董事九名， 公司高级管理人员列席本次会议。本次会议由董事长冯橹铭先生主持。 本次会议出席人数、召开程序、议事内容均符合《中华人民共和国公司法》 和《浙江海亮股份有限公司章程》的规定，决议合法有效。 经全体董事认真审阅并在议案表决书上表决签字，会议审议通过了如下议案： 一、审议通过了《关于拟与清华大学成立技术联合研究中心的议案》 为了提升技术研发能力，公司拟出资 5,000 万元自有资金与清华大学成立技 术联合研究中心。本次合作对公司未来经营业绩和经营成果的影响需视具体合作 的推进和实施 ...