Core Viewpoint - Huahong Technology has shown significant growth in revenue and net profit, indicating strong operational performance and potential investment opportunities in the company [2]. Group 1: Financial Performance - For the period from January to September 2025, Huahong Technology achieved a revenue of 5.461 billion yuan, representing a year-on-year growth of 34.94% [2]. - The net profit attributable to shareholders reached 197 million yuan, reflecting an impressive year-on-year increase of 7110.70% [2]. - Cumulative cash dividends since the company's A-share listing amount to 354 million yuan, with 116 million yuan distributed over the past three years [3]. Group 2: Shareholder and Market Activity - As of September 30, 2025, the number of Huahong Technology's shareholders increased to 64,400, up by 85.57% from the previous period [2]. - The average number of circulating shares per shareholder decreased to 8,684 shares, down by 41.27% [2]. - On December 29, 2023, Huahong Technology's financing buy-in amounted to 9.357 million yuan, while the financing repayment was 25.2447 million yuan, resulting in a net financing outflow of 15.8877 million yuan [1]. Group 3: Business Segments - Huahong Technology's main business segments include comprehensive utilization of rare earth resources (49.56% of revenue), sales of magnetic materials (23.77%), sales of recycling processing equipment (10.45%), sales of elevator components (9.83%), and waste recycling and trade (4.68%) [1]. - The company is involved in the processing of recycled resources and the comprehensive utilization of waste resources, indicating a focus on sustainability and resource efficiency [1]. Group 4: Institutional Holdings - As of September 30, 2025, among the top ten circulating shareholders, the Jiashi Zhongzheng Rare Earth Industry ETF (516150) is the ninth largest shareholder, holding 4.047 million shares as a new investor [3].

证券代码：002645 证券简称：华宏科技 公告编号：2025-107 江苏华宏科技股份有限公司 关于为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信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 一、担保情况概述 （一）担保审议情况 （一）《最高额保证合同》（浙江中杭） 保证人：江苏华宏科技股份有限公司 债权人：中信银行股份有限公司宁波分行 江苏华宏科技股份有限公司（以下简称"公司"或"华宏科技"）于 2025 年 4 月 23 日召开第七届董事会第二十六次会议，并于 2025 年 5 月 23 日召开 2024 年度股东大会，审议通过了《关于公司及子公司 2025 年度对外担保额度预计的 议案》，同意公司为子公司提供担保额度总计不超过 20 亿元人民币，并授权公 司董事长全权代表公司签署上述担保额度内的各项法律文件，授权期限自公司 2024 年度股东大会批准之日起至 2025 年度股东大会召开之日止。具体内容详见 刊登于《证券时报》《上海证券报》及巨潮资讯网（www.cninfo.com.cn）的《关 于公司及子公司 2025 年度对外担保额度预计的公告》。 （二）担保进展情 ...

Group 1 - The company Huahong Technology (SZ 002645) announced that its controlling shareholder, Huahong Group, has released and re-pledged approximately 135 million shares, with a total of 201 million shares pledged, representing 100% of its holdings [1] - As of the announcement date, Huahong Technology has a market capitalization of 9.2 billion yuan [1] - For the first half of 2025, the revenue composition of Huahong Technology is as follows: 64.69% from recycling resource processing equipment, 23.77% from magnetic materials, 9.83% from elevator components, and 1.71% from other businesses [1]

证券代码：002645 证券简称：华宏科技 公告编号：2025-106 江苏华宏科技股份有限公司 关于控股股东部分股份解除质押并再质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别风险提示： 公司控股股东江苏华宏实业集团有限公司（以下简称"华宏集团"）及其 一致行动人累计质押股份数量占其所持公司股份数量比例已超过80%，敬请投 资者注意相关风险。 江苏华宏科技股份有限公司（以下简称"公司"或"华宏科技"）近日接到 控股股东华宏集团的通知，获悉其所持有本公司的部分股份解除质押并再质押， 截至公告披露日，华宏集团及其一致行动人合计质押股份数量占其所持股份总数 的99.90%，具体事项如下： 1 股东 名称 是否为控股 股东或第一 大股东及其 一致行动人 本次解除质 押股份数量 （股） 占其所持 股份比例 (%) 占公司 总股本 比例(%) 起始日 解除日期 质权人 华宏 集团 是 24,966,430 12.43 3.98 2022.4.11 2025.12.25 江苏资产管理有限 公司 华宏 集团 是 88,490,851 44.05 14.10 ...

格隆汇12月24日丨华宏科技(002645.SZ)在互动平台表示，公司汽车拆解业务包含燃油车和新能源汽车 的报废拆解，但目前暂不涉及锂电池拆解业务。 ...

证券代码：002645 证券简称：华宏科技 公告编号：2025-105 江苏华宏科技股份有限公司 2025 年员工持股计划第一次持有人会议决议公告 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、误导性陈述或重大遗漏。 一、持有人会议召开情况 江苏华宏科技股份有限公司（以下简称"公司"）2025 年员工持股计划第一 次持有人会议于 2025 年 12 月 19 日以现场表决与通讯表决相结合的方式召开。 本次持有人会议由董事会秘书朱大勇先生主持，实际出席持有人 65 人，代表员 工持股计划份额 4,388.15 万份，占公司 2025 年员工持股计划总份额的 93.14%。 本次持有人会议的召集、召开和表决程序符合相关法律法规、规范性文件和《2025 年员工持股计划管理办法》的规定。 二、持有人会议审议情况 1、审议通过《关于设立 2025 年员工持股计划管理委员会的议案》 为保证公司 2025 年员工持股计划的顺利实施，保障持有人的合法权益，根 据《2025 年员工持股计划管理办法》的相关规定，持有人会议同意设立 2025 年 员工持股计划管理委员会，负责员工持股计划的日常管理事宜， ...

证券代码：002645 证券简称：华宏科技 公告编号：2025-104 江苏华宏科技股份有限公司 关于 2025 年员工持股计划非交易过户完成的公告 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。 江苏华宏科技股份有限公司（以下简称"公司"）于 2025 年 9 月 29 日召开 第七届董事会第三十一次会议和第七届监事会第十三次会议，并于 2025 年 10 月 17 日召开 2025 年第二次临时股东大会，审议通过了《关于公司<2025 年员工 持股计划（草案）>及其摘要的议案》《关于公司<2025 年员工持股计划管理办法> 的议案》等相关议案，同意公司实施 2025 年员工持股计划（以下简称"本员工 持股计划"），同时股东大会授权董事会全权办理与员工持股计划相关的事宜。具 体内容详见公司于 2025 年 9 月 30 日和 2025 年 10 月 18 日刊登在巨潮资讯网 （www.cninfo.com.cn）的相关公告。 根据《关于上市公司实施员工持股计划试点的指导意见》《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》等相关规定 ...

Investment Ratings - The report maintains a positive outlook on copper, aluminum, and rare earths, indicating high market activity and potential for growth [12][33][34]. Core Insights - Copper prices increased by 4.38% to $11,665.00 per ton on LME, with domestic prices rising by 6.12% to 92,800 yuan per ton, driven by supply constraints and high demand [1][13]. - Aluminum prices rose by 1.24% to $2,900.50 per ton on LME, with domestic prices up 3.4% to 22,300 yuan per ton, reflecting stable demand despite seasonal fluctuations [2][14]. - Gold prices decreased by 0.87% to $4,227.7 per ounce, influenced by geopolitical risks and market volatility, while SPDR gold holdings increased [3][15]. - Rare earth prices, particularly praseodymium-neodymium oxide, rose by 2.79%, with expectations of increased demand due to supply constraints and favorable export conditions [4][34]. - Antimony prices decreased by 1.79%, but the outlook remains positive due to anticipated recovery in exports [4][35]. - Tin prices increased by 4.70%, supported by low inventory levels and supply disruptions in Indonesia and Myanmar [4][36]. Summary by Sections Copper - LME copper price increased by 4.38% to $11,665.00 per ton, with domestic prices at 92,800 yuan per ton [1][13]. - Supply constraints are evident with a decrease in copper inventory and processing fees [1][13]. - Downstream demand is weakening due to high prices, leading to a decline in new orders [1][13]. Aluminum - LME aluminum price rose by 1.24% to $2,900.50 per ton, with domestic prices at 22,300 yuan per ton [2][14]. - Inventory levels remain stable, but processing rates have decreased slightly [2][14]. - Demand is cautious due to high prices affecting transaction volumes [2][14]. Precious Metals - Gold prices fell by 0.87% to $4,227.7 per ounce, with geopolitical factors influencing market dynamics [3][15]. - SPDR gold holdings increased, indicating a slight uptick in investor interest [3][15]. Rare Earths - Praseodymium-neodymium oxide prices increased by 2.79%, with expectations of higher demand due to supply constraints [4][34]. - Export conditions are improving, contributing to a positive outlook for the sector [4][34]. Antimony - Antimony prices decreased by 1.79%, but the long-term outlook remains optimistic due to potential export recovery [4][35]. Tin - Tin prices increased by 4.70%, driven by low inventory levels and supply disruptions [4][36].

Core Viewpoint - The announcement details the pledge and re-pledge of shares by the controlling shareholder, Jiangsu Huahong Industrial Group Co., Ltd., indicating a high level of pledged shares which may raise concerns among investors regarding financial stability and control over the company [2][3]. Group 1: Share Pledge Details - Jiangsu Huahong Industrial Group and its concerted actors have pledged shares amounting to 99.90% of their total holdings in the company [2][3]. - The controlling shareholder has released part of its pledged shares and re-pledged them to meet operational financing needs, which does not relate to the company's operational requirements [2][3]. - As of the announcement date, the total number of pledged shares due within the next six months is 135,056,869 shares, representing 58.33% of their holdings and 21.52% of the company's total share capital, with a financing balance of 510 million RMB [3]. Group 2: Financial Health and Risk Management - The controlling shareholder, Huahong Group, has a good credit status and repayment capability, with repayment sources being self-owned funds and dividends from invested parties [3]. - There are no non-operational fund occupations or violations that could harm the interests of the listed company, and there is no impact on the company's operations or governance [3][6]. - The high proportion of pledged shares is primarily due to operational financing needs, and there are measures in place to mitigate potential risks, including additional pledges or early loan repayments if necessary [6].

Company Overview - Huahong Technology (SZ 002645) announced that as of the date of the announcement, Huahong Group has pledged a total of approximately 201 million shares, accounting for 100% of its holdings [1] - Hu Shiyong has pledged approximately 14.89 million shares, accounting for 98.46% of his holdings [1] - Hu Shiqing has pledged approximately 7.76 million shares, accounting for 100% of his holdings [1] - Hu Shifa has pledged approximately 7.76 million shares, accounting for 100% of his holdings [1] Revenue Composition - For the first half of 2025, Huahong Technology's revenue composition is as follows: - Recycling resource processing equipment accounts for 64.69% - Magnetic materials account for 23.77% - Elevator components account for 9.83% - Other businesses account for 1.71% [1] Market Capitalization - As of the announcement, Huahong Technology's market capitalization is 9.2 billion yuan [1]