登录新浪财经APP 搜索【信披】查看更多考评等级 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、误导性陈述或者重大 遗漏。 重要提示 1、本次股东大会未出现否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 浙江海亮股份有限公司（以下简称"公司"）于2025年4月26日在《证券时报》《上海证券报》《证券日 报》《中国证券报》及巨潮资讯网披露了《浙江海亮股份有限公司关于召开2024年度股东大会的通知》 （公告编号：2025-021），公司将定于2025年5月20日以现场表决与网络投票相结合的方式召开2024年 度股东大会。 （1）现场召开时间为：2025年5月20日下午 14:30； （2）网络投票时间为：2025年5月20日9:15一2025年5月20日 15:00；其中： ① 通过深圳证券交易所交易系统进行网络投票的时间为2025年5月20日上午 9:15一9:25，9:30一11:30 和 下午 13:00一15:00； ② 通过互联网投票系统投票的时间为：2025年5月20日上午 9:15 至 2025年5月20日 ...

| 证券代码：002203 | 证券简称：海亮股份 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | | 浙江海亮股份有限公司 2024 年度股东大会决议公告 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、误导性陈述或者重大遗漏。 重要提示 1、本次股东大会未出现否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 浙江海亮股份有限公司（以下简称"公司"）于2025年4月26日在《证券时 报》《上海证券报》《证券日报》《中国证券报》及巨潮资讯网披露了《浙江海亮 股份有限公司关于召开2024年度股东大会的通知》（公告编号：2025-021），公 司将定于2025年5月20日以现场表决与网络投票相结合的方式召开2024年度股东 大会。 （1）现场召开时间为：2025 年 5 月 20 日下午 14:30； （2）网络投票时间为：2025 年 5 月 20 日 9:15—2025 年 5 月 20 日 15:00； 其中： ① 通过深圳证券交易所 ...

2024 年度股东大会之 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 国浩律师（杭州）事务所 关于 浙江海亮股份有限公司 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年五月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 浙江海亮股份有限公司 2024 年度股东大会之 法律意见书 致：浙江海亮股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受浙江海亮股份有限公司 （以下简称"公司"）的委托，指派律师列席公司 2024 年度股东大会（以下简 称"本次股东大会"），并依据《中华人民共和国公司法》（以 ...

Core Viewpoint - The copper industry is facing a structural shift characterized by a rigid supply shortage at the mining end, excess smelting capacity, and a transition between old and new demand drivers, leading to a long-term upward trend in copper prices [19][24][25]. Group 1: Upstream Resources (Mining and Recycling) - Global copper reserves are approximately 980 million tons, with a mining lifespan of about 40 years based on current production levels [32]. - In 2024, global copper mine production is expected to reach 23 million tons, with a year-on-year growth of 1.8% [35]. - China's copper mine production is projected at 1.8 million tons in 2024, a decline of 1.1% year-on-year, primarily due to resource depletion and environmental restrictions [42][46]. Group 2: Recycling Sector (Recycled Copper) - The recycled copper market is supported by national strategies, aiming for a production target of 4 million tons by 2025, with recycled metal supply accounting for over 24% [4]. - In 2024, China is expected to import 2.25 million tons of scrap copper, with domestic recycling capacity reaching 2.49 million tons [5][48]. - The price of recycled copper is projected to show significant fluctuations, with an average price of 70,400 yuan per ton in 2024 [5]. Group 3: Midstream Smelting - The global refined copper production in 2024 is estimated at 27.634 million tons, with a year-on-year increase of 4.3% [9]. - China is the largest producer of refined copper, accounting for 49.9% of global production in 2024, with a projected output of 13.644 million tons [10]. - The smelting industry is experiencing a decline in processing fees, with long-term contracts expected to drop to $21.25 per ton by 2025, significantly below the breakeven point [8][20]. Group 4: Midstream Processing (Copper Products) - In 2024, China's copper processing output is expected to reach 23.503 million tons, representing over 50% of global production [11]. - The industry is characterized by low concentration, with the top five companies holding only 30% of the market share [11]. - The demand for high-end copper products is increasing, driven by the growth in new energy and infrastructure sectors [12][13]. Group 5: Downstream Demand (End Applications) - Global refined copper consumption in 2024 is projected at 27.33 million tons, with China accounting for 58% of this demand [14]. - The demand structure in China shows that electricity and power grids account for 46% of refined copper consumption, while new energy applications are rapidly growing [15]. - The transition from traditional to new energy applications is expected to drive significant growth in copper demand, particularly in sectors like electric vehicles and renewable energy [19][21]. Group 6: Supply and Demand Balance - The global refined copper supply-demand balance is expected to show a surplus of 19,000 tons in 2025, a decrease from the previous year's surplus of 30,200 tons [16]. - China's refined copper consumption is projected to grow by 2.9% in 2025, reaching 16.21 million tons, driven by new energy infrastructure investments [18]. - The copper market is anticipated to face a tightening supply situation due to the rigid shortage of mining resources and the acceleration of smelting capacity clearance [19][20]. Group 7: Investment Recommendations - Key investment opportunities include resource leaders like Zijin Mining and Longyan Copper, which are positioned to benefit from global resource control [21]. - Smelting leaders such as Jiangxi Copper are expected to gain from policy-driven supply-side reforms and the elimination of inefficient capacity [20]. - Companies focusing on high-end processing and recycled copper, such as Hailiang Co. and Gree Environmental, are likely to benefit from technological advancements and policy support [21].

| 证券代码：002203 | 证券简称：海亮股份 公告编号：2025-037 | | --- | --- | | 债券代码：128081 | 债券简称：海亮转债 | 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 11 月 7 日、2024 年 11 月 28 日分别召开第八届董事会第十七次会议、2024 年第二次临时股东大会， 审议通过了《关于回购公司股份方案的议案》，同意公司使用自有资金和回购专 项贷款以集中竞价交易方式回购公司已发行的人民币普通股（A 股）。本次回购 股份将用于实施股权激励或员工持股计划，拟用于回购资金总额不低于人民币 5 亿元（含），且不超过人民币 6 亿元（含），回购股份价格上限为 13.29 元/股（含）。 具体内容详见公司于 2024 年 11 月 11 日、2024 年 11 月 30 日在《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）上 分别披露的《关于回购公司股份方案暨取得金融机构回购专项贷款的公告》（公 告编号：2024-068）、《回购报告书》（公告编号：2024-079）。 ...

Group 1: Financial Performance - The company reported a significant loss in Q4 2024, primarily due to asset impairment, increased fixed asset conversion, and foreign exchange losses [2][4]. - In Q1 2025, the company showed improved financial performance compared to the previous quarter [2][4]. - The copper foil segment faced challenges, with a total loss of 140 million in the first half of the previous year and another 140 million in the second half [8][9]. Group 2: Global Expansion and Market Strategy - The company operates 23 production bases globally, with a strategic focus on expanding in emerging markets [2][3]. - The management has outlined a globalization strategy that includes both organic growth and acquisitions to enhance its competitive position in the copper processing industry [3][5]. - The company aims to leverage its international presence to mitigate risks associated with global supply chain uncertainties [3][5]. Group 3: Talent and Organizational Development - The company is committed to enhancing organizational efficiency and strategic capabilities through talent development initiatives [4]. - A comprehensive talent supply chain is being established to support sustainable growth, focusing on employee training and skill enhancement [4]. - The company is implementing a structured human resource framework to optimize talent selection, development, and retention [4]. Group 4: Risk Management and Financial Transactions - The company has significant transactions with its financial subsidiary, with a total deposit amount of 276.268 billion and withdrawals of 275.559 billion in 2024 [9]. - Measures are in place to manage risks associated with these transactions, ensuring compliance with legal and regulatory requirements [9].

Group 1: Business Development Strategy - The company will focus on both overseas expansion and solidifying domestic business, leveraging early advantages in local capacity construction in regions like the U.S. and Southeast Asia [1] - The company aims to enhance overseas business contributions while maintaining a strong domestic presence [1] Group 2: Revenue and Profitability Insights - Revenue and gross margin growth in copper busbars is driven by high-quality demands from emerging sectors like data centers, with the company utilizing its raw material scheduling advantages [2] - The company has elevated its heat dissipation copper material business to a strategic level, integrating two research institutes to enhance technological implementation [2] Group 3: Market Adaptation and Technology - The company has prepared for the trend of aluminum replacing copper in air conditioning applications, having developed mature aluminum tube production capabilities over nearly a decade [2] - The company is well-equipped to handle cost changes due to industry iterations, with established technical reserves [2] Group 4: Impact of Tariff Policies - Recent tariff policies have had minimal impact on the company's overseas operations, thanks to its global layout and early advantages [2] Group 5: Copper Foil Business Outlook - The copper foil industry faces overall development pressure in 2024, with profit margins squeezed by copper price fluctuations; however, production utilization rates at Gansu Hailiang are improving [3] - The company is committed to continuous innovation in advanced copper foil technologies to provide differentiated, high-quality products [3] Group 6: U.S. Operations Performance - The U.S. factory is operating normally, with production capacity utilization steadily increasing and contributing positively to the business [3]

Summary of Hailiang Co., Ltd. Conference Call Company Overview - Hailiang Co., Ltd. has a foreign trade proportion of 40%, with a scale of approximately $4 billion, primarily achieved through exports from China and overseas bases [2][3]. Key Points and Arguments Impact of Export Tax Rebate Cancellation - The cancellation of the 13% export tax rebate has a limited impact on Hailiang due to its use of bonded processing methods, which mitigate losses [5]. - The exit of smaller companies from the market due to the inability to absorb the costs of the tax rebate cancellation presents more business opportunities for Hailiang [5]. Tariff War Effects - Short-term: No direct impact from the tariff war as no new tariffs have been imposed during the 232 investigation phase [6]. - Mid-term: Even with potential tariff increases, Hailiang's Thai base remains competitive due to the U.S. electrolytic copper industry's reliance on imports [6]. - Long-term: The Texas factory, once operational, will meet U.S. demand and provide high-value products, enhancing competitiveness [6][7]. Market Demand and Growth - Domestic demand is affected by the real estate sector, but appliance subsidy policies support air conditioning demand [4][10]. - Internationally, the European market is stable, India shows strong growth, and Hailiang's market share in the U.S. is increasing [4][11]. - Hailiang's export volume reached over 1 million tons in 2024, with a target of 30,000 tons for 2025, focusing on the U.S. and Indian markets [3][28][29]. Copper Price Volatility - Copper price fluctuations significantly impact the industry; Hailiang prefers stable prices and has developed capabilities to handle price volatility [14][15]. - The company has experienced multiple copper price cycles and has strategies in place to manage these fluctuations [14][15]. Production and Capacity Expansion - The Texas factory has an investment scale of 100,000 tons, with a current capacity of 1,100 tons, aiming to reach 1,600 to 1,800 tons [17][20]. - The factory's construction has progressed well despite delays caused by the pandemic, with equipment fully installed [21][20]. Future Sales and Profit Goals - Hailiang aims for a 25% increase in sales volume and at least a 15% increase in profit for 2025, primarily driven by rising processing fees and volume growth [28]. - The company plans to increase exports to the U.S. and India significantly, with expectations of substantial growth in other major markets as well [29]. Additional Important Information - Hailiang's products, including copper fittings and bars, are widely used in sectors such as renewable energy vehicles and automation [13]. - The company has a strong presence in Southeast Asia, particularly in Thailand, which serves as a key supply source [12]. - The industry is characterized by high concentration, with companies like Jinlong achieving warehouse management, intensifying competition [24]. This summary encapsulates the critical insights from Hailiang Co., Ltd.'s conference call, highlighting the company's strategic positioning, market dynamics, and future growth prospects.

Core Insights - In 2024, the company achieved a revenue of 87.39 billion yuan, a year-on-year increase of 15.61%, with a net profit attributable to shareholders of 703 million yuan [1] - The company plans a total cash dividend and share repurchase amounting to 599 million yuan, representing 85.12% of the net profit for the year [1] - In Q1 2025, the company reported a revenue of 20.50 billion yuan and a net profit of 345 million yuan, reflecting a year-on-year growth of 9.46% [1] Group 1: Production and International Expansion - The company operates 23 production bases globally, with domestic locations in Zhejiang, Shanghai, and Anhui, and international sites in the USA, Germany, and Vietnam [2] - In 2024, the company surpassed one million tons in sales, with the successful launch of its copper foil project in Indonesia, marking a significant milestone in its internationalization strategy [2] - The company is investing 288 million USD in a new materials technology industrial park in Morocco, aiming for an annual production capacity of 50,000 tons of non-forged copper and copper alloy materials [2] Group 2: Technological Innovation and Product Development - In 2024, the company applied for 48 patents and obtained 106, establishing a comprehensive innovation system from technological breakthroughs to standard-setting [3] - The company is focusing on advanced technology innovation in its copper foil segment, with plans for nearly 20 new product development projects [4] - The company has achieved a 15% reduction in electricity consumption per ton and a 90% reduction in carbon emissions per ton through its low-carbon technology initiatives [4] Group 3: Talent Development and Digital Transformation - The company emphasizes talent management and development, establishing a research and innovation incubator and collaborating with major research institutions [5] - The company is advancing its digital capabilities, integrating AI and big data into production processes, and achieving record production efficiency at its facilities [5] - The establishment of a joint innovation laboratory with Huawei highlights the company's commitment to exploring AI advancements [5] Group 4: Strategic Vision and Future Plans - The company aims to become a global leader in green intelligent manufacturing, focusing on optimizing R&D efficiency and product development [6] - The company plans to enhance its traditional copper processing products and expand into high-value aluminum materials for the new energy sector [6] - With ongoing projects in Indonesia and Morocco, the company is expected to improve its profitability while adapting to global trade uncertainties [6]

数字化能力成为海亮股份从"制造"向"智造"转型的关键，安徽基地"精密铜管低碳智造项目"实现全流程 数字化管理，重庆基地构建数字驾驶舱优化排产效率，单线铜管年产量创新高。海外基地方面，欧洲、 美国基地推进管理数字化。此外，公司前沿探索，与华为共建AI实验室并发布行业首部AI蓝皮书。 本报讯(记者吴文婧)4月26日，浙江海亮股份（002203）有限公司(以下简称"海亮股份")披露2024年年报 和2025年一季报。公司2024年实现营业收入873.87亿元；有色金属加工材销量101.05万吨，海外营收占 比持续提升。2025年第一季度实现营收205.04亿元；归母净利同比增长9.46%。作为全球铜加工领域的 龙头企业，海亮股份凭借全球化布局、数智化赋能进一步巩固了其行业领导地位。 全球化布局为生产服务过程中的协同效应提供了有力支撑。印尼铜箔基地仅用208天就建成投产，成为 国内唯一具备海外铜箔产能的企业。公司通过并购HME基地强化欧洲服务能力，美国3万吨铜管产能实 现本土制造，越南、泰国基地通过BIS认证进入印度市场，摩洛哥工业园依托自贸协定覆盖欧美非市 场。属地化生产优势凸显，推动公司2024年营收增长15.6 ...