Core Viewpoint - Tianshan Aluminum Industry Group Co., Ltd. has provided guarantees for its wholly-owned subsidiaries and subsidiaries, with the total amount of external guarantees exceeding 100% of the latest audited net assets, raising concerns about guarantee risks [2][16]. Summary by Sections Guarantee Overview - Tianshan Aluminum has provided maximum guarantee amounts for various loans: 900 million RMB for Xinjiang Production and Construction Corps Eighth Division Tianshan Aluminum Co., Ltd. (Tian Aluminum), 400 million RMB for the same company from China Construction Bank, and 100 million RMB for Shihezi New Ren Battery Aluminum Foil Technology Co., Ltd. from China Minsheng Bank [3][9][13]. Guarantee Approval Process - The guarantees were approved in meetings held on December 9 and December 27, 2024, by the Board of Directors and the Third Extraordinary General Meeting of Shareholders [3][16]. Guarantee Amount Usage - The total new guarantee amount for 2025 is capped at 24.9 billion RMB, with various forms of guarantees including joint liability guarantees and asset pledges [3][16]. Financial Status of Guaranteed Parties - Tian Aluminum has a registered capital of 6.38421 billion RMB and is involved in various metal processing and sales activities [5]. Shihezi New Ren Battery Aluminum Foil Technology Co., Ltd. has a registered capital of 100 million RMB and focuses on battery components and metal materials [7]. Board Opinion - The Board believes that the guarantees will facilitate the normal financing operations of Tian Aluminum and Shihezi Aluminum Foil, which have good asset quality and sufficient debt repayment capabilities [17]. Total Guarantee Amount and Status - After the guarantees, the total external guarantee amount by the company and its subsidiaries is 29.753 billion RMB, which is 110.89% of the latest audited net assets, with no overdue guarantees reported [16][18].

证券代码：002532 证券简称：天山铝业 公告编号：2025-088 天山铝业集团股份有限公司 关于公司对全资子公司和全资孙公司提供担保的公告 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、误导性陈述或重大遗漏。 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。 特别提示： 本次担保后，本公司及控股子公司对外担保总额超过最近一期经审计净资产 100%（均为合并报表内单位担保）；公司本次对下属全资孙公司石河子市新仁 电池铝箔科技有限公司提供担保，属于对资产负债率超过 70%的对象提供担保。 敬请投资者充分关注担保风险。 一、担保情况概述 （一）担保情况 根据公司业务的发展和生产经营的需要，天山铝业集团股份有限公司（以下 简称"天山铝业""公司"或"本公司"）为中国工商银行股份有限公司石河子分行 （以下简称"工商银行石河子分行"）对本公司全资子公司新疆生产建设兵团第八 师天山铝业有限公司（以下简称"天铝有限"）享有的 9 亿元人民币主债权提供最 高额保证担保，为中国建设银行股份有限公司石河子市分行（以下简称"建设银 行石河子分行"）对天 ...

Core Viewpoint - Tianshan Aluminum achieved a net profit attributable to shareholders of 3.34 billion yuan in Q1-Q3 2025, representing a year-on-year increase of 8.31% [1] - The company is expected to continue profit growth due to rising volume and price [1] Financial Performance - In Q3 2025, the net profit attributable to shareholders reached 1.256 billion yuan, showing a year-on-year increase of 24.30% and a quarter-on-quarter increase of 22.42% [1] Project Development - The construction of the 1.4 million tons electrolytic aluminum green low-carbon energy efficiency improvement project is progressing smoothly, with all tasks being carried out as planned [1] - The company aims to achieve the first batch of electrolytic cells powered by the end of November and complete the powering and production of all electrolytic cells by Q2 2026 [1] Technological Advancements - The renovation project utilizes fully graphitized cathode carbon blocks and new energy-saving cathode structure technology, which offers several advantages such as high lining life, low resistivity, low sodium expansion rate, good thermal shock resistance, high operational stability, and high current efficiency [1] Global Expansion - The company is expanding its global footprint by securing bauxite resources in Indonesia and Guinea, enhancing its integrated industrial chain layout [1] - Benefiting from lower energy prices in Xinjiang, the company has a significant cost advantage, and the overseas resource segment shows growth potential [1] - The new electrolytic aluminum production capacity is expected to enhance future profits [1]

Core Viewpoint - The A-share market's non-ferrous metal sector has shown strong performance, with several companies experiencing significant stock price increases on November 12 [1] Group 1: Market Performance - The non-ferrous metal sector saw a collective rise, with Minfa Aluminum reaching the daily limit up, and Chang Aluminum and Huayu Mining both increasing over 6% [1] - China Aluminum rose over 4%, while Huaxi Nonferrous, Hailiang Co., and Hongchuang Holdings increased by more than 3% [1] - Other companies like Yun Aluminum, Jiaozuo Wanfang, and Tianshan Aluminum also saw gains exceeding 2% [1] Group 2: Individual Stock Performance - Minfa Aluminum (002578) had a price increase of 9.93%, with a total market value of 4.158 billion and a year-to-date increase of 48.16% [2] - Chang Aluminum (002160) rose by 6.89%, with a market value of 6.734 billion and a year-to-date increase of 75.27% [2] - Huayu Mining (601020) increased by 6.28%, with a market value of 26.8 billion and a year-to-date increase of 159.48% [2] - China Aluminum (601600) saw a rise of 4.37%, with a market value of 196.6 billion and a year-to-date increase of 60.87% [2] - Other notable performers include Huaxi Nonferrous (3.58% increase), Hailiang Co. (3.33% increase), and Hongchuang Holdings (3.06% increase) [2]

Core Viewpoint - The company, Tianshan Aluminum Group Co., Ltd., announces the full redemption of its 2024 non-publicly issued exchangeable bonds by its controlling shareholder, Shihezi Jinlong Energy Industry Chain Co., Ltd., with the redemption date set for November 18, 2025 [1][10]. Redemption Details - The redemption of the bonds, known as "24 Jinlong EB01" (bond code: 117225.SZ), will occur on November 18, 2025, with the redemption price set at RMB 100.4808 per bond, including accrued interest [3][5]. - The redemption registration date is November 17, 2025, and the funds will be credited to investors' accounts on the same day [3][5]. - The bonds will be fully redeemed, and investors who purchase the bonds on November 17, 2025, will be entitled to the principal and interest [4][5]. Interest Payment - The bonds will accrue interest from December 2, 2024, to November 17, 2025, with a nominal annual interest rate of 0.5%. Each 10 bonds (face value of RMB 1,000) will yield RMB 4.808 in interest (tax included) [7][13]. - After tax, individual and mutual fund bondholders will receive RMB 3.847 per 10 bonds, while non-resident enterprises will receive the full RMB 4.808 [7][13]. Implementation Procedure - The company will entrust China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, to handle the redemption process. The redemption funds will be transferred to the designated bank account two trading days prior to the redemption date [7][13].

证券代码：002532 证券简称：天山铝业 公告编号：2025-086 天山铝业集团股份有限公司 关于控股股东 2024 年面向专业投资者非公开发行可交换公 司债券（第一期）赎回业务第三次提示性公告 控股股东石河子市锦隆能源产业链有限公司保证向本公司提供的信息内 容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 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。 重要提示： 1．债券代码：117225.SZ 2．债券简称：24 锦隆 EB01 3．赎回登记日：2025 年 11 月 17 日 7．摘牌日：2025 年 11 月 18 日 天山铝业集团股份有限公司接到控股股东石河子市锦隆能源产业链有限公 司（以下简称"锦隆能源/公司"）的通知，获悉锦隆能源拟全部赎回"2024 年 面向专业投资者非公开发行可交换公司债券（第一期）"（债券简称"24 锦隆 EB01"，债券代码"117225.SZ"，以下简称"本期债券"）。现就赎回本期债 券情况披露如下： 一、本期债券赎回的程序和时间安排 1．本期债券赎回的程序 根据《石河子市锦隆能源产业链有限公司 2024 年面向专业投资者非公开发 行 ...

证券代码：002532 证券简称：天山铝业 公告编号：2025-087 2．债券简称：24 锦隆 EB02 3．赎回登记日：2025 年 11 月 17 日 7．摘牌日：2025 年 11 月 18 日 天山铝业集团股份有限公司接到控股股东石河子市锦隆能源产业链有限公 司（以下简称"锦隆能源/公司"）的通知，获悉锦隆能源全部赎回"2024 年面 向专业投资者非公开发行可交换公司债券（第二期）"（债券简称"24 锦隆 EB02"， 债券代码"117226.SZ"，以下简称"本期债券"）。现就赎回本期债券信息披 露如下： 天山铝业集团股份有限公司 关于控股股东 2024 年面向专业投资者非公开发行可交换公 司债券（第二期）赎回业务第三次提示性公告 控股股东石河子市锦隆能源产业链有限公司保证向本公司提供的信息内 容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 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。 重要提示： 1．债券代码：117226.SZ 一、本期债券赎回的程序和时间安排 1．本期债券赎回的程序 根据《石河子市锦隆能源产业链有限公司 2024 年面向专业投资者非公开发 行 ...

Core Viewpoint - Tianshan Aluminum announced the release of stock pledges by its controlling shareholder, indicating a potential shift in ownership dynamics and liquidity management [1] Group 1: Company Actions - The controlling shareholder, Shihezi Jinlong Energy Industry Chain Co., Ltd., released 80 million shares from pledge, which represents 11.21% of its holdings [1] - The released shares account for 1.72% of the total share capital of Tianshan Aluminum [1]

证券代码：002532 证券简称：天山铝业 公告编号：2025-085 天山铝业集团股份有限公司 关于控股股东部分股份解除质押的公告 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、误导性陈述或重大遗漏。 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。 一、股东股份质押后续进展 （一）股东股份解除质押 天山铝业集团股份有限公司（以下简称"本公司"或"公司"）近日接到控股 股东石河子市锦隆能源产业链有限公司（以下简称"锦隆能源"）函告，获悉其 所持有本公司的部分股份解除质押，具体事项如下： | 股东 名称 | 是否为控股 股东或第一 大股东及其 | 本次解除质 押股份数量 | 占其所持 股份比例 | 占公司 总股本 | 质押起始日 | 解除质押日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 一致行动人 | (万股) | | 比例 | | | | | 锦隆 | 是 | 4,500.00 | 6.31% | 0.97% | 2024/11/21 | 2025/ ...

Core Viewpoint - Tianshan Aluminum announced that its controlling shareholder, Shihezi Jinlong Energy Industry Chain Co., Ltd., has released part of its pledged shares, indicating a potential strengthening of the company's financial position and shareholder confidence [1] Summary by Relevant Sections Share Pledge Release - Jinlong Energy has released a total of 80 million shares, with 45 million shares having a pledge start date of November 21, 2024, and 35 million shares starting on December 17, 2024, both set to be released on November 11, 2025 [1] - The pledge was secured by DBS Bank (China) Limited [1] Shareholding and Pledge Status - As of the announcement date, Jinlong Energy holds 713.3974 million shares in Tianshan Aluminum, with a total of 30.222 million shares pledged [1] - The pledged shares represent 4.24% of Jinlong Energy's total holdings and 0.65% of the company's total share capital [1]