Investment Rating - The report maintains a "Buy" rating for the company [2][9][10] Core Views - In the first half of 2024, the company achieved revenue of 44.033 billion RMB, a year-on-year increase of 0.6%, while net profit attributable to shareholders was 618 million RMB, a decrease of 13.76% [2] - The company experienced a significant increase in copper processing product sales, with a total of 506,900 tons sold in the first half of 2024, representing a year-on-year growth of 14.04% [2] - The company is expanding its overseas operations, including a new project in Morocco, which is part of its global strategy to mitigate domestic competition risks [2] Summary by Relevant Sections Financial Performance - In 1H24, the company reported a net profit of 618 million RMB, down 13.76% year-on-year, and a non-recurring net profit of 622 million RMB, down 27.46% [2] - The second quarter of 2024 saw a net profit of 303 million RMB, a decrease of 20.92% year-on-year, but a 13.02% increase quarter-on-quarter [2] - The company faced a significant foreign exchange loss of 67.67 million RMB in 1H24 due to the depreciation of the RMB against the USD [2] Sales and Production - The company’s copper foil sales surged by 450.51% year-on-year, contributing significantly to the overall sales growth [2] - The processing fees for lithium battery copper foil have been declining, impacting the profitability of newly added production capacity [2] Strategic Initiatives - The company is investing in a new materials technology industrial park in Morocco, which will include multiple production lines for copper and copper alloys, aiming to enhance its global presence [2] - This expansion is expected to leverage the company's international operational advantages and diversify its market resources [2] Earnings Forecast - Projected revenues for 2024, 2025, and 2026 are 93.3 billion RMB, 110.4 billion RMB, and 119.2 billion RMB, respectively, with net profits expected to be 1.275 billion RMB, 1.564 billion RMB, and 1.908 billion RMB [2][6]

| 证券代码：002203 | 证券简称：海亮股份 公告编号：2024-053 | | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | 浙江海亮股份有限公司 关于使用部分闲置募集资金暂时补充流动资金的公告 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，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。 重要内容提示： 1、公司前期使用闲置募集资金补充流动资金的款项已及时、足额归还至募 集资金专用账户； 2、本次拟将不超过 8,000 万元（含本数）闲置募集资金补充流动资金，使 用期限为 12 个月。 浙江海亮股份有限公司（以下简称"海亮股份"或"公司"）于 2024 年 8 月 29 日召开的第八届董事会第十五次会议审议通过了《关于使用部分闲置募集 资金暂时补充流动资金的议案》，现将相关事项公告如下： 一、公司募集资金基本情况 经中国证券监督管理委员会《关于核准浙江海亮股份有限公司公开发行可转 换公司债券的批复》（证监许可[2019]1943 号）核准，核准公司向社会公开发行 面值总额 315,000 万元可转换公司债券，期限 6 年，募集配套资金总额为人民币 3 ...

| 证券代码：002203 | 证券简称：海亮股份 | 公告编号：2024-050 | | --- | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | | 浙江海亮股份有限公司 1、审议通过了《2024 年半年度报告及其摘要》。 《2024 年半年度报告》《2024 年半年度报告摘要》全文详见巨潮资讯网 http://www.cninfo.com.cn。 表决结果：9 票同意；0 票反对；0 票弃权。 2、审议通过了《关于公司修改<董事、监事和高级管理人员所持公司股份 及其变动管理制度>的议案》。 《董事、监事和高级管理人员所持公司股份及其变动管理制度》全文详见巨 潮资讯网 http://www.cninfo.com.cn。 表决结果：9 票同意；0 票反对；0 票弃权。 第八届董事会第十五次会议决议公告 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"）第八届董事会第十五次会议通 知于 2024 年 8 月 15 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 2024 年 8 ...

Financial Performance - The company's operating revenue for the reporting period was ¥43,959,463,329.97, representing a 0.60% increase compared to ¥43,699,018,164.99 in the same period last year[12]. - Net profit attributable to shareholders decreased by 13.76% to ¥618,461,988.76 from ¥717,145,857.65 year-on-year[12]. - The net profit after deducting non-recurring gains and losses fell by 27.46% to ¥622,032,010.36 from ¥857,508,936.49 in the previous year[12]. - Basic earnings per share decreased by 13.89% to ¥0.31 from ¥0.36 year-on-year[12]. - Diluted earnings per share fell by 21.21% to ¥0.26 from ¥0.33 in the previous year[12]. - The weighted average return on net assets was 4.33%, down from 5.43% in the same period last year, a decrease of 1.10%[12]. - Total operating revenue reached 43,959.46 million yuan, reflecting a year-on-year growth of 0.60%[31]. - The net profit attributable to shareholders was 618.46 million yuan, with the copper foil products contributing 145.89 million yuan to this figure[31]. - The company reported a net profit of ¥14,484.92 million from its Hong Kong subsidiary, accounting for 5.85% of the company's net assets[45]. - The company reported a net profit distribution of 339,714,364.47 yuan for the period, which includes a general risk reserve allocation[178]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at -¥4,209,106,826.70, a decline of 67.67% compared to -¥2,510,338,545.63 in the same period last year[12]. - Cash and cash equivalents at the end of the reporting period amounted to ¥6,687,294,888.69, representing 14.02% of total assets, a decrease of 5.09% from the previous year[43]. - The company achieved a net cash inflow from operating activities of ¥49.21 billion, reflecting strong operational performance despite the decline in net profit[173]. - The cash flow from operating activities showed a net outflow of -4,209,106,826.70 CNY, worsening from -2,510,338,545.63 CNY in the previous year[174]. - The total cash outflow from operating activities was 53,423,478,341.77 CNY, compared to 44,671,813,759.91 CNY in the same period last year, representing a 19.5% increase[174]. Assets and Liabilities - Total assets increased by 18.03% to ¥47,689,042,198.85 from ¥40,405,099,640.89 at the end of the previous year[12]. - Total liabilities increased by 30.56% to 30,749,137,305.53 yuan compared to the previous year[164]. - Total current assets increased by 28.66% to 30,011,942,079.53 yuan compared to the beginning of the year[163]. - Total liabilities rose to ¥21,037,641,361.75, compared to ¥17,121,965,564.05, indicating an increase of 22.4%[166]. - The total equity increased by 0.60% to 16,939,904,893.32 yuan compared to the previous year[164]. Sales and Market Performance - The increase in operating revenue was attributed to a 14.04% growth in product sales, despite a decrease in trade income from raw materials[12]. - The cumulative sales volume of power batteries in China reached 318.1 GWh in the first half of 2024, a year-on-year increase of 26.6%[20]. - Domestic sales accounted for approximately 62.55% of total revenue, while overseas sales contributed 37.45%, with overseas sales increasing by 21.02% year-on-year[39]. - The company achieved a sales volume of 506,900 tons of copper and copper alloy products, representing a year-on-year increase of 14.04%, with copper foil sales increasing by 450.51%[31]. - The company reported a significant increase in copper foil revenue, which surged by 483.86% to approximately ¥1.02 billion, reflecting strong demand in the market[40]. Research and Development - Research and development investment rose by 10.93% to approximately ¥466.17 million, indicating a commitment to innovation and product development[38]. - The company has applied for and accepted 14 patents during the reporting period, with 45 patents granted, including 19 invention patents[33]. - The company is investing in new product development, with a budget allocation of 10,000 million for R&D in 2024[120]. Environmental and Social Responsibility - Zhejiang Hailiang Co., Ltd. has implemented strict compliance with various environmental protection laws and standards during its operations, including the "Environmental Protection Law of the People's Republic of China" and "Comprehensive Discharge Standards for Wastewater" (GB 8978)[87]. - The company has established a comprehensive environmental management system to monitor and control emissions across all its facilities[87]. - The company invested a total of 15.33 million yuan in environmental protection measures during the reporting period[96]. - The domestic photovoltaic power generation capacity installed on factory rooftops is approximately 68.91 MWp, generating 33.04 million kWh in the first half of 2024, reducing CO2 emissions by 19,196.74 tons[98]. - The company actively engages in social responsibility initiatives, including donations and community support activities[99]. Strategic Initiatives - The company is focusing on lithium battery copper foil as a key product for development, aiming to expand production capacity rapidly in response to the growing market for new energy vehicles and energy storage[23]. - The company plans to invest in a new materials technology industrial park in Morocco, with production lines for various copper and lithium battery materials, aiming for a total annual output of 5,000 tons of non-rolled copper and copper alloy products[36]. - The company has set a goal for its lithium battery copper foil business to rank among the top three within three years and strive for the top position within five years[27]. - The company is exploring potential acquisitions in the copper recycling sector to diversify its product offerings and improve sustainability[121]. Risk Management - The company has implemented a comprehensive risk control system, effectively mitigating risks associated with copper price and exchange rate fluctuations[28]. - The company aims to mitigate foreign exchange and interest rate risks through hedging activities, enhancing financial stability[54]. - The company faces copper price fluctuation risks, as its main raw material is electrolytic copper, and it aims to transfer this risk to downstream customers[72]. Shareholder Information - The largest shareholder, Hailiang Group, holds 29.24% of the shares, totaling 584,229,700 shares[139]. - The company has a total of 20,595 shareholders at the end of the reporting period[139]. - The company has approved a share repurchase plan with a total amount not less than CNY 150 million and not exceeding CNY 250 million, estimating to repurchase approximately 1,912.78 million shares at a maximum price of CNY 13.07 per share[131].

| 证券代码：002203 | 证券简称：海亮股份 | 公告编号：2024-055 | | --- | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | | 浙江海亮股份有限公司 关于为控股子公司提供担保的进展公告 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，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。 一、担保情况概述 2024 年 4 月 28 日，浙江海亮股份有限公司（以下简称"公司"）第八届董 事会召开第十一次会议审议通过了《关于为控股子公司融资提供一揽子担保的议 案》，本议案已经获得 2023 年度股东大会的批准。同意公司为上海海亮铜业有限 公司、香港海亮铜贸易有限公司（以下简称"香港海亮"）、香港海亮控股有限公 司、海亮（安徽）铜业有限公司、广东海亮铜业有限公司、海亮奥托铜管（广东） 有限公司、成都贝德铜业有限公司、重庆海亮铜业有限公司、重庆海亮金属材料 有限公司、浙江科宇金属材料有限公司、海亮（新加坡）有限公司、HAILIANG （VIETNAM）COPPER MANUFACTURINGCO.,LTD、山东海亮奥博特铜业有限公司、甘 肃海亮新能 ...

| 证券代码：002203 | 证券简称：海亮股份 | 公告编号：2024-054 | | --- | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | | 浙江海亮股份有限公司董事会 关于 2024 年半年度募集资金年度存放与使用情况的专项报告 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。 根据中国证券监督管理委员会《上市公司监管指引第 2 号——上市公司募集资金管理 和使用的监管要求(2022 年修订)》(证监会公告〔2022〕15 号)和深圳证券交易所印发的《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》(深证上〔2022〕 13 号)的规定，将本公司募集资金 2024 年半年度存放与使用情况专项说明如下。 一、募集资金基本情况 (一) 实际募集资金金额和资金到账时间 1. 2018 年度非公开发行股票 根据中国证券监督管理委员会《关于核准浙江海亮股份有限公司非公开发行股票的批 复》(证监许可〔2018〕616 号)，本公司由主承销商广发证券股份有限公司采用向特定对象 发行的方式发行人民币普通股( ...

浙江海亮股份有限公司（以下简称"海亮股份"或"公司"）于 2024 年 8 月 29 日召开的第八届董事会第十五次会议审议通过了《关于使用部分闲置募集 资金暂时补充流动资金的议案》，同意公司使用不超过 8,000 万元（含本数）闲 置募集资金暂时补充流动资金，使用期限自董事会审议通过之日起不超过十二个 月。广发证券股份有限公司（以下简称"广发证券"或"保荐人"）作为海亮股 份非公开发行股票和公开发行可转债的保荐人，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 1 号——主板上市公司规范运作》及《上市公司监管指引第 2 号——上市公 司募集资金管理和使用的监管要求》等有关法律法规的规定，就海亮股份使用不 超过 8,000 万元（含本数）闲置募集资金暂时补充流动资金事项进行了审慎核查， 核查意见如下： 一、公司募集资金基本情况 广发证券股份有限公司 关于浙江海亮股份有限公司 使用部分闲置募集资金暂时补充流动资金的核查意见 经中国证券监督管理委员会《关于核准浙江海亮股份有限公司公开发行可转 换公司债券的批复》（证监许可[2019]1943 号）核准，核 ...

| 证券代码：002203 | 证券简称：海亮股份 | 公告编号：2024-051 | | --- | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | | 浙江海亮股份有限公司 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，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。 表决结果：3票同意；0票反对；0票弃权。 2、审议通过了《关于使用部分闲置募集资金暂时补充流动资金的议案》 经审核，监事会认为：公司本次使用公开发行可转换公司债券部分闲置募集 资金暂时补充流动资金，符合《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》和《上市公司监管指引第2号——上市公司募集资金管 理和使用的监管要求》等相关规定，审批程序合规有效。根据公司募投项目的具 第八届监事会第十二次会议决议公告 浙江海亮股份有限公司（以下简称"公司"）第八届监事会第十二次会议通知 于 2024 年 8 月 15 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 2024 年 8 月 29 日下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 ...

浙江海亮股份有限公司 关于对海亮集团财务有限责任公司 2024 年上半年的风险评估报告 根据《深圳证券交易所上市公司自律监管指引第 7 号-交易与关联交易》的 要求，查验了海亮集团财务有限责任公司（以下简称"财务公司"）《金融许可证》 《营业执照》等证件资料，审阅了财务公司 2024 年半年度财务报告，对财务公 司的经营资质、业务和风险状况进行了评估，现将有关风险评估情况报告如下： 一、财务公司的基本情况 1 董事会：负责召集股东会，并向股东会报告工作；执行股东会决议；决定财 务公司的经营计划和投资方案；制订财务公司的年度财务预算方案、决算方案； 制订财务公司的利润分配方案和弥补亏损方案；制订财务公司增加或者减少注册 资本金以及发行债券方案；拟订财务公司合并、分离、解散或者变更财务公司形 式的方案；决定财务公司内部管理机构的设置；聘任或者解聘财务公司总经理， 并决定其报酬事项；根据财务公司总经理提名，聘任或者解聘财务公司副总经理、 财务负责人并决定其报酬事项；制订财务公司《公司章程》的修改方案；听取财 务公司总经理的工作汇报并检查总经理的工作；法律、法规或财务公司《公司章 程》规定，以及股东会授予的其他职权。 ...

浙江海亮股份有限公司 第一章 总则 第一条 为加强对浙江海亮股份有限公司（以下简称"公司"或"本公司"） 董事、监事和高级管理人员所持本公司股份及其变动的管理，维护证券市场秩序， 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）、《深圳证券交易所股票上市规则》《上市公 司董事、监事和高级管理人员所持本公司股份及其变动管理规则》（以下简称《管 理规则》）等法律、行政法规、部门规章及规范性文件及《浙江海亮股份有限公 司章程》（以下简称"《公司章程》"）的规定，制定本制度。 第二条 本制度适用于公司董事、监事和高级管理人员以及本制度第九条规 定的自然人、法人或其他组织所持本公司股份及其变动管理。 第三条 公司董事、监事和高级管理人员所持本公司股份，是指登记在其名 下的所有本公司股份。上述人员从事融资融券交易的，其所持本公司股份还包括 记载在其信用账户内的本公司股份。 第四条 公司董事、监事和高级管理人员在买卖本公司股票及其衍生品种前， 应知悉《公司法》《证券法》等法律、法规关于内幕交易、操纵市场等禁止行为 的规定，不得进行违法违规的交易。 第二章 股票买卖 ...