| 证券代码：002203 | 证券简称：海亮股份 | 公告编号：2024-058 | | --- | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | | 浙江海亮股份有限公司 关于董事长、总裁、董事增持公司股份计划实施期限过半的进 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。 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： 1、浙江海亮股份有限公司（以下简称"公司"）于 2024 年 6 月 13 日披露了 《关于董事长、总裁、董事增持公司股份计划的公告》（公告编号：2024-029）， 公司董事长、总裁、董事（以下合并简称"增持主体"）计划自 2024 年 6 月 13 日起 6 个月内通过包括但不限于集中竞价、大宗交易等深圳证券交易所认可的合 法方式增持公司股份，本次增持不设价格区间，将根据公司股票价格的二级市场 波动情况，择机实施增持计划。 2、增持股份的规模：董事长曹建国先生增持股份的金额不低于人民币 2,500 万元，不超过人民币 3,000 万元（含）；董事、 ...

| 证券代码：002203 | 证券简称：海亮股份 | 公告编号：2024-057 | | --- | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | | 浙江海亮股份有限公司 三、累计对外担保情况 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 肃海亮新能源材料有限公司、HME Copper Germany Gmbh、Hailiang Netherlands Holding B. ...

Investment Rating - The report maintains a "Recommend" rating for the company with a target price of 8.4 yuan [1][3] Core Views - The company's copper alloy production and sales volume showed steady growth, with a slight improvement in performance excluding copper foil products [1] - Copper foil products dragged down the company's performance, but excluding the impact of copper foil, the company's copper pipe, copper rod, and copper bar products contributed 76,435 million yuan to net profit, a year-on-year increase of 3.7% [1] - The company's overseas expansion is deepening, with copper alloy production and sales volume steadily increasing, and plans to invest in a new industrial park in Morocco [1] Financial Performance - In the first half of 2024, the company achieved revenue of 43.959 billion yuan, a year-on-year increase of 0.6%, and net profit attributable to shareholders of 618 million yuan, a year-on-year decrease of 13.76% [1] - The company's operating cash flow was -4.209 billion yuan, a year-on-year decrease of 67.67%, mainly due to increased inventory and accounts receivable [1] - The company's period expense ratio increased slightly to 2.4%, with financial expenses rising by 287% year-on-year due to increased exchange losses [1] Future Projections - The company is expected to achieve net profit attributable to shareholders of 1.295 billion yuan, 1.544 billion yuan, and 1.719 billion yuan in 2024, 2025, and 2026, respectively, with year-on-year growth rates of 15.8%, 19.2%, and 11.4% [1] - The company's revenue is projected to grow by 13.8%, 10.5%, and 8.2% in 2024, 2025, and 2026, respectively [2] Market Performance - The company's stock price has shown a downward trend over the past 12 months, with a significant decline compared to the CSI 300 index [5]

Group 1: Financial Performance - In the first half of 2024, the company achieved revenue of 24.834 billion CNY, with net profit contributions from copper products amounting to 764.35 million CNY, reflecting a year-on-year growth of 3.7% [1] - The sales volume of copper and copper alloy products reached 506,900 tons, representing a year-on-year increase of 14.04% [3] - The gross profit margin for domestic sales was 4.18%, while for overseas sales it was 6.56% [2] Group 2: Supply Chain and Risk Management - The company operates 23 production bases globally and has established long-term stable business relationships with nearly 10,000 customers across 132 countries or regions [2] - A robust risk management system has been developed to mitigate the impacts of raw material price fluctuations and exchange rate volatility, ensuring stable performance [2] - The company adheres to a "zero exposure policy" for foreign exchange risks, matching foreign currency assets and liabilities to prevent speculative positions [2] Group 3: Strategic Initiatives - The establishment of a factory in Morocco aims to enhance local market service and support, leveraging local workforce advantages to capture market share [3] - The company plans to expand its market presence in Europe, the Middle East, and Africa for non-ferrous copper and copper alloy materials, as well as lithium battery copper foil [3] Group 4: Cash Flow and Operational Insights - The increase in cash flow outflow is attributed to a 450.51% rise in copper foil sales volume compared to the previous year, leading to higher inventory and accounts receivable [3] - The company maintains a positive outlook on order fulfillment, particularly for copper foil products, indicating a healthy order situation [3] Group 5: Investor Relations - The company decided not to adjust the conversion price of its convertible bonds, reflecting confidence in its long-term stable development and intrinsic value [4] - Continuous efforts are being made to strengthen operational management and ensure timely repayment of convertible bonds [4]

Financial Performance - In the first half of 2024, the company achieved sales volume of copper and copper alloy products of 506,900 tons, a year-on-year increase of 14.04% [1] - The operating revenue reached 4,395,946 thousand yuan, reflecting a year-on-year growth of 0.60% [1] - The net profit attributable to shareholders was 65,478 thousand yuan, compared to 61,846 thousand yuan in the previous year [1] Risk Management - The company implements a "zero exposure" policy to control risks related to foreign exchange and raw materials, ensuring no speculative positions are taken [2] - A robust risk management system has been established over the years, utilizing hedging tools to manage net inventory risks effectively [2] Product and Market Insights - In the first half of 2024, the company reported copper foil revenue of 1,024 million yuan, a significant increase of 483.86% year-on-year, with sales volume rising by 450.51% [2] - The overseas sales accounted for 40.92% of the total sales volume of copper and copper alloy products [3] Future Plans - The company plans to invest 288 million USD in a project in Morocco, which includes the establishment of several production lines with a total annual capacity of 50,000 tons for various copper products [3] - The company aims to enhance its overseas business and increase the proportion of international sales in the future [3] Convertible Bond Management - The company has a convertible bond with a remaining balance of 2.7 billion yuan, set to mature in November 2024, and has decided not to adjust the conversion price to protect investor interests [2]

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 10.78 CNY per share based on a 15x PE ratio for 2024 [4][43]. Core Views - Hailiang Co., Ltd. is a global leader in copper processing, continuously expanding production capacity and upgrading product structure. By the end of March 2024, the total production capacity will reach 1.28 million tons, with overseas capacity accounting for 36%. The company plans to add another 400,000 tons of new capacity in the future. Since 2019, the gross margin contribution from copper pipes has consistently exceeded 80%, with overseas sales gross margin reaching 49% in 2023. The company aims to become the largest copper foil producer globally by 2027, focusing on green manufacturing and accelerating new product development [2][3][10][21]. Summary by Sections Company Overview - Hailiang Co., Ltd. is a core subsidiary of Hailiang Group, established in 2001, and listed on the Shenzhen Stock Exchange in 2008. It is a leading manufacturer of copper pipes and rods, with products used in various industries including air conditioning, refrigeration, and electronics. The company operates 23 production bases globally and has established long-term relationships with nearly 10,000 customers across over 130 countries [10][11][12]. Production Capacity and Structure - As of March 2024, Hailiang's total copper processing capacity will be 1.28 million tons per year, with 36% of this capacity located overseas. The company plans to build an additional 400,000 tons of capacity, with production steadily increasing, reaching 850,000 tons in 2023 [13][15][17]. Financial Analysis - Hailiang's profitability is better than domestic peers, with a projected increase in earnings driven by global expansion and product upgrades. The company has a strong cost control capability and a stable profit model, which positions it well for future growth. The report forecasts net profits of 1.437 billion, 1.500 billion, and 1.635 billion CNY for 2024, 2025, and 2026, respectively, with EPS expected to be 0.72, 0.75, and 0.82 CNY per share [23][41][43]. Future Outlook - The company is focused on green manufacturing and aims to enhance its R&D capabilities to develop new products, particularly in the copper foil sector. Hailiang plans to leverage its existing R&D foundation to explore new market opportunities in emerging fields such as new energy materials and digital transformation [21][35][36]. Profit Forecast and Investment Recommendations - The report anticipates significant growth in Hailiang's copper processing output from 2024 to 2026, driven by recovering global demand and improved pricing. The company is expected to benefit from rising copper prices and an increase in processing fees, leading to enhanced profitability [41][43].

2024 年 7 月 22 日，公司实施了首次股份回购，并于次日披露了《关于首次 回购公司股份的公告》（公告编号：2024-046），具体内容详见《证券时报》《上 海证券报》《证券日报》《中国证券报》和巨潮资讯网 （www.cninfo.com.cn）。 二、回购股份的进展情况 根据《上市公司股份回购规则》和《深圳证券交易所上市公司自律监管指引 第 9 号——回购股份》等相关法规与公司相关规定，公司应当在每个月的前三个 交易日内，公告截至上月末的回购进展情况。现将公司回购股份进展情况公告如 下： 截至 2024 年 8 月 30 日，公司已通过集中竞价交易方式累计回购股份 | 证券代码：002203 | 证券简称：海亮股份 公告编号：2024-056 | | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | 浙江海亮股份有限公司 关于回购公司股份的进展公告 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、回购股份的基本情况 浙江海亮股份有限公司（以下简称"公司"）于 2024 年 6 月 18 日召开的第 八届董 ...

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 ...