特别提示： 天山铝业集团股份有限公司（以下简称"公司/本公司"）本次利润分配方案 以 公 司 总 股 本 4,651,885,415 股 扣 除 回 购 专 用 账 户 中 持 有 的 本 公 司 股 份 62,008,530 股后的 4,589,876,885 股为基数，向全体股东每 10 股派发现金红利 2 元（含税），不送红股、不进行资本公积金转增股本，共计派发现金红利人民币 917,975,377 元（含税）。 公司通过回购专用账户持有的本公司股份不享有参与本次利润分配的权利。 本次权益分派实施后计算除权除息价格时，以公司总股本 4,651,885,415 股（含 回购股份）折算的每 10 股现金分红=现金分红总额÷总股本×10=917,975,377 元 ÷4,651,885,415 股×10，即每 10 股现金红利为 1.973340 元（保留六位小数，最 后一位直接截取，不四舍五入），折算的每股现金红利为 0.1973340 元，除权除 息参考价格=股权登记日收盘价格-按总股本折算的每股现金红利（即 0.1973340 元/股）。 一、股东大会审议通过权益分派方案等情况 天山铝业集团股份有限公司 ...

Summary of Key Points Core Viewpoint - On October 23, Tianshan Aluminum conducted a block trade of 21 million shares, amounting to 268 million yuan, which accounted for 23.08% of the total trading volume for the day. The transaction price was 12.75 yuan, representing a discount of 1.47% compared to the market closing price of 12.94 yuan [1]. Group 1: Trading Details - The block trade involved a total of 21 million shares of Tianshan Aluminum at a price of 12.75 yuan per share [1]. - The total transaction value was 268 million yuan, indicating significant trading activity [1]. - The transaction price was lower than the market closing price, suggesting a strategic move by investors [1]. Group 2: Transaction Breakdown - The trading date was October 23, 2025, with the stock code 002532 for Tianshan Aluminum [2]. - The transaction included two separate trades: one for 11 million shares and another for 10 million shares, both at the price of 12.75 yuan [2]. - The total value of the trades was 140 million yuan and 127 million yuan respectively, highlighting the scale of the transactions [2].

Group 1 - Tianshan Aluminum's stock increased by 5.04%, reaching 12.93 CNY per share, with a trading volume of 840 million CNY and a turnover rate of 1.60%, resulting in a total market capitalization of 60.149 billion CNY [1] - Tianshan Aluminum, established on November 3, 1997, and listed on December 31, 2010, is primarily engaged in the production and sales of primary aluminum, aluminum deep processing products, prebaked anodes, high-purity aluminum, and alumina [1] - The revenue composition of Tianshan Aluminum includes 65.26% from aluminum ingot sales, 24.20% from alumina sales, 6.89% from aluminum foil and foil stock sales, 2.10% from high-purity aluminum sales, and 1.55% from other sources [1] Group 2 - Huafu Fund holds a significant position in Tianshan Aluminum through its Huafu Small and Medium Enterprises 100 Index Enhanced Fund (410010), which maintained 31,000 shares in the second quarter, accounting for 2.59% of the fund's net value, ranking as the ninth largest holding [2] - The Huafu Small and Medium Enterprises 100 Index Enhanced Fund (410010) was established on December 9, 2011, with a latest scale of 9.9295 million CNY, achieving a year-to-date return of 27.15% and a one-year return of 26.09% [2] - The fund manager, Li Xiaohua, has been in position for 4 years and 171 days, overseeing assets totaling 11.675 billion CNY, with the best fund return during his tenure being 91.41% and the worst being -20.2% [3]

Core Viewpoint - The China Securities 500 Growth ETF (159606) experienced a decline of 0.80% as of the midday close on October 23, with a trading volume of 2.9846 million yuan [1] Group 1: ETF Performance - The China Securities 500 Growth ETF (159606) closed at 1.114 yuan, with a year-to-date return of 12.32% since its inception on December 17, 2021 [1] - The ETF has shown a negative return of -0.69% over the past month [1] Group 2: Major Holdings Performance - Major holdings in the ETF include Dongwu Securities, which fell by 0.11%, and Kaiying Network, which decreased by 0.99% [1] - Other notable declines include Huagong Technology down 4.73%, Hengxuan Technology down 2.41%, and Huitai Medical down 1.59% [1] - Conversely, Tianshan Aluminum saw an increase of 3.17%, and Shunluo Electronics rose by 3.21% [1]

Core Insights - The article highlights the top-performing stocks in the S&P China A-Share Dividend Opportunity Index, showcasing significant price increases and dividend yields for various companies [1]. Group 1: Stock Performance - The top stock, Tunnel Co. (600820 SH), experienced a daily increase of 6.38% and a year-to-date increase of 0.67%, with a dividend yield of 4.57% [1]. - New Australia Co. (6038888 SH) saw a daily rise of 5.04% and an impressive year-to-date increase of 18.80%, with a dividend yield of 3.79% [1]. - Common Treasure Co. (002478.SZ) reported a daily increase of 4.46% and a year-to-date increase of 24.78%, with a dividend yield of 3.45% [1]. - Runna Co. (002483.SZ) achieved a daily rise of 4.19% and a remarkable year-to-date increase of 45.34%, with a dividend yield of 4.16% [1]. - Tianshan Aluminum (002532.SZ) recorded a daily increase of 3.26% and a year-to-date increase of 60.71%, with a dividend yield of 3.21% [1]. Group 2: Dividend Yields - The article lists several companies with notable dividend yields, including: - Tunnel Co. (4.57%) [1] - Runna Co. (4.16%) [1] - Tianshan Aluminum (3.21%) [1] - Jiangyin Bank (3.96%) [1] - Agricultural Bank (3.07%) [1]

Core Viewpoint - The announcement details the progress of the share conversion related to the non-public issuance of exchangeable bonds by the controlling shareholder, Jinlong Energy, and the resulting changes in shareholding percentages [2][3]. Group 1: Share Conversion Details - Jinlong Energy's first phase of exchangeable bonds (24 Jinlong EB01) entered the conversion period on June 3, 2025, and the second phase (24 Jinlong EB02) on June 30, 2025 [2]. - From July 21 to September 5, 2025, 593,741 shares were converted from the first phase, reducing Jinlong Energy's shareholding to 41.9997% [3]. - From September 11 to October 20, 2025, a total of 47,172,054 shares were converted, which included 7,380,404 shares from the first phase and 39,791,650 shares from the second phase, bringing Jinlong Energy's shareholding down to 40.99% [3]. Group 2: Implications of Shareholding Changes - The changes in shareholding do not result in a change of control for the company [4]. - The conversion of the exchangeable bonds is subject to uncertainty regarding whether bondholders will choose to convert and the specific number of shares converted [4].

天山铝业集团股份有限公司 关于控股股东非公开发行可交换公司债券换股进展暨持股 比例变动超过 1%的公告 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。 天山铝业集团股份有限公司（以下简称"公司"）的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"）2024 年 12 月 2 日发行的"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"）于 2025 年 6 月 3 日进入换股期，具体内 容详见公司于 2025 年 5 月 29 日在巨潮资讯网（http://www.cninfo.com.cn）披露 的《关于控股股东面向专业投资者非公开发行可交换公司债券（第一期）进入换 股期的提示性公告》（公告编号：2025-032）。 锦隆能源 2024 年 12 月 27 日发行的"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 ...

Core Viewpoint - Tianshan Aluminum's stock has shown significant growth this year, with a year-to-date increase of 57.98%, reflecting strong market performance and investor interest [1][2]. Financial Performance - For the first half of 2025, Tianshan Aluminum reported revenue of 15.328 billion yuan, a year-on-year increase of 11.19%, and a net profit attributable to shareholders of 2.084 billion yuan, up 0.51% year-on-year [2]. - Cumulative cash dividends since the company's A-share listing amount to 6.562 billion yuan, with 3.463 billion yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 49,700, a rise of 4.44% from the previous period, while the average circulating shares per person decreased by 4.25% to 83,175 shares [2]. - The seventh largest circulating shareholder, Hong Kong Central Clearing Limited, holds 113 million shares, having reduced its holdings by 10.084 million shares compared to the previous period [3]. Stock Market Activity - On October 20, Tianshan Aluminum's stock price rose by 2.19%, reaching 12.12 yuan per share, with a trading volume of 403 million yuan and a turnover rate of 0.83% [1]. - The stock has experienced a 3.68% increase over the last five trading days, a 5.57% increase over the last twenty days, and a 43.43% increase over the last sixty days [1]. Business Overview - Tianshan Aluminum, established on November 3, 1997, and listed on December 31, 2010, is primarily engaged in the production and sale of primary aluminum, aluminum deep-processing products, prebaked anodes, high-purity aluminum, and alumina [1]. - The company's revenue composition includes 65.26% from aluminum ingots, 24.20% from alumina, 6.89% from aluminum foil and foil materials, 2.10% from high-purity aluminum, and 1.55% from other sources [1]. Industry Classification - Tianshan Aluminum is classified under the Shenwan industry category of non-ferrous metals, specifically industrial metals and aluminum, and is associated with concepts such as battery foil, non-ferrous aluminum, lithium batteries, Xinjiang revitalization, and sodium batteries [1].

Group 1 - The article highlights the top 20 stocks in the S&P China A-Share Dividend Opportunity Index, showcasing their daily and year-to-date performance along with dividend yields [1][2] - The stock with the highest daily increase is Xingri Co., Ltd. (002083.SZ) with a rise of 10.02%, while the highest year-to-date performer is Yiyi Co., Ltd. (001206.SZ) with a remarkable increase of 116.53% [1][2] - The overall dividend yield for the index is reported at 5.18%, with a historical price-to-earnings ratio of 10.64 times and an expected price-to-earnings ratio of 10.08 times [2] Group 2 - The article mentions the formation of a MACD golden cross signal, indicating a positive trend for certain stocks [3]

Investment Rating - The investment rating for the non-ferrous metals industry is "Positive" (maintained) [3] Core Views - The report anticipates a potential upward trend in copper prices due to expected shortages in copper mines, particularly with the global second-largest copper mine, Grasberg, facing production halts. The report suggests that the copper supply-demand balance may shift from tight equilibrium to shortage by 2026 [4] - The report highlights the performance of various metals, including aluminum, lithium, and cobalt, with specific recommendations for companies to watch in each segment [4] Summary by Sections 1. Industry Overview - Recent macroeconomic developments include a new round of US-China trade negotiations and comments from Trump regarding the unsustainability of high tariffs on China [8] 2. Market Performance - The overall performance of the non-ferrous metals sector saw a decline, with the Shanghai Composite Index down 1.47% and the Shenwan Non-Ferrous Metals Index down 3.07%, underperforming the Shanghai Composite by 1.60 percentage points [10][11] 3. Valuation Changes - The PE_TTM for the Shenwan Non-Ferrous Metals Index is 26.96, down 1.78 from the previous week, while the PB_LF is 3.22, down 0.22 [19][22] 4. Copper - Copper prices have seen a decline, with LME copper down 1.86% and SHFE copper down 1.77%. However, the report indicates a potential for price recovery due to supply disruptions and seasonal demand [21][44] 5. Aluminum - Aluminum prices are experiencing fluctuations, with LME aluminum down 0.45% and SHFE aluminum down 0.47%. The report notes a decrease in inventory levels, which may support price stability [33][44] 6. Lithium - Lithium prices are showing mixed trends, with lithium carbonate down 0.27% and lithium spodumene up 0.83%. The report suggests that lithium prices may stabilize due to seasonal demand [73] 7. Cobalt - Cobalt prices have increased, with MB cobalt up 5.40% to $20.98 per pound, driven by changes in export regulations from the Democratic Republic of Congo [86]