Core Viewpoint - The launch of casting aluminum alloy futures and options on June 10 marks the first recycled metal commodity in China's futures market, with strong initial trading performance and participation from leading aluminum companies [1][2][3]. Market Performance - On the first trading day, all seven contracts for casting aluminum alloy futures closed higher, with the main contract AD2511 opening at 19,400 yuan/ton and closing at 19,190 yuan/ton, a rise of 825 yuan/ton or 4.49% from the listing benchmark price of 18,365 yuan/ton [3][4]. - The total trading volume for the seven contracts reached 57,300 lots, with a transaction value of 11.011 billion yuan, and the main contract AD2511 accounted for 52,300 lots and 10.1 billion yuan in transaction value [3][4]. Industry Participation - Major aluminum companies such as Shunbo Alloy, Lichong Group, and Judong Co. actively participated in the trading on the first day, indicating strong industry interest [1][6][8]. - The recycled aluminum alloy industry is primarily composed of private enterprises, with a market concentration of about 30% among the top five companies [7]. Price Dynamics and Future Outlook - Analysts suggest that the initial price performance aligns with expectations, but caution that the market may experience significant price fluctuations due to seasonal demand changes and supply dynamics [4][5]. - The industry faces challenges such as overcapacity and low profit margins, with a projected operating rate of only 53% in 2024, which may limit future price increases [4][5]. Impact on Related Companies - The launch of casting aluminum alloy futures has positively impacted stock prices of related companies, with Shunbo Alloy rising by 10.01% and Lichong Group by 7.60% as of June 11 [8]. - Shunbo Alloy's projected revenue for 2024 is 13.977 billion yuan, a year-on-year increase of 17%, although its net profit is expected to decrease by 47.96% [8]. Strategic Importance - The introduction of these futures is expected to enhance risk management for industry players, providing a more effective hedging tool compared to existing aluminum futures [8][9]. - The futures market is anticipated to play a significant role in the pricing mechanism for aluminum alloys, contributing to a more transparent and fair market environment [8][9][10].

Core Viewpoint - The launch of casting aluminum alloy futures and options is a milestone for the recycled aluminum industry in China, contributing to the establishment of a fair and transparent pricing mechanism and providing efficient risk management tools for industry enterprises [1]. Industry Overview - China is a major producer and consumer of recycled aluminum, with production expected to exceed 10 million tons in 2024 and reach over 18 million tons by 2030 [1]. - The introduction of casting aluminum alloy futures and options is anticipated to promote the standardized development of the recycled aluminum industry [1]. Market Participation - On the first day of trading, the casting aluminum alloy futures saw active participation from industry enterprises, including notable companies such as Lichong Sihua Light Alloy Group Co., Ltd. and Chongqing Shunbo Aluminum Alloy Co., Ltd. [1]. - The trading environment is expected to become more active, leading to a fairer market price for aluminum alloys [2]. Risk Management - The new futures product will enhance the effectiveness of hedging for enterprises, allowing for better risk management compared to previous reliance on aluminum futures [2]. - The futures market will facilitate production adjustments and improve resource allocation within the industry [2][3]. Comprehensive Services - Futures companies can provide a range of services from standardized contracts to customized products, aiding enterprises in market risk management and strategic development [3][4]. - The launch of casting aluminum alloy futures and options complements existing aluminum futures products, forming a comprehensive risk management system for the aluminum industry [4].

Core Viewpoint - The launch of casting aluminum alloy futures and options marks the first futures product in China's recycled metal industry, aimed at enhancing price risk management and resource allocation efficiency in the industry [2][3]. Industry Overview - China has established a complete aluminum industry chain from bauxite to recycled aluminum, with casting aluminum alloy being a key product for recycling waste aluminum and contributing to low-carbon transformation [2][3]. - The recycled non-ferrous metal sector is crucial for ensuring resource security and promoting green low-carbon transitions, with recycled aluminum production exceeding 10 million tons and contributing to significant carbon reduction [3][5]. Market Impact - The trading of casting aluminum alloy futures is expected to provide richer risk management tools for companies, helping them to better lock in prices and enhance competitiveness [4]. - The introduction of these futures is anticipated to improve industry concentration and increase transparency in product quality and pricing [4]. Future Projections - By 2030, China's recycled aluminum production is projected to exceed 18 million tons, with the launch of casting aluminum alloy futures and options expected to promote standardized development in the recycled aluminum industry [5].

Core Viewpoint - The company, Chongqing Shunbo Aluminum Alloy Co., Ltd., is actively engaging in hedging and share repurchase activities to manage financial risks and enhance shareholder value. Group 1: Stock Performance - As of June 6, 2025, Shunbo Alloy's stock closed at 7.18 yuan, a 6.85% increase from the previous week's 6.72 yuan [1] - The stock reached a high of 7.38 yuan on June 5, 2025, and a low of 6.61 yuan on June 3, 2025 [1] - The company's current total market capitalization is 4.807 billion yuan, ranking 48th out of 60 in the industrial metals sector and 3045th out of 5148 in the A-share market [1] Group 2: Hedging Business - The company announced the initiation of commodity futures and options hedging business, with a maximum margin and premium balance not exceeding 120 million yuan, valid for 12 months [2] - As of May 30, 2025, the hedging activities resulted in a total investment loss of 11.5192 million yuan, with unrealized losses from open hedging positions amounting to 15.5225 million yuan [2] - The company plans to enhance market tracking and risk management to mitigate uncertainties from price fluctuations [2] Group 3: Share Repurchase - The company approved a share repurchase plan on November 8, 2024, with a total repurchase amount between 50 million yuan and 100 million yuan, and a maximum repurchase price of 9 yuan per share [3] - The estimated number of shares to be repurchased ranges from approximately 5.55 million to 11.1 million, representing 0.83% to 1.66% of the total share capital [3] - As of May 31, 2025, the company has repurchased 8,605,520 shares at a total cost of approximately 55.58 million yuan, with the highest and lowest transaction prices being 6.80 yuan and 5.94 yuan per share, respectively [3][4]

一、 股份回购方案概述 重庆顺博铝合金股份有限公司（以下简称"公司"）于 2024 年 11 月 8 日召开第四届董事会第二十五次会议，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、专项贷款资金以集中竞价 交易方式回购公司部分股份，用于实施股权激励计划、员工持股计划或 可转换公司债券转股。本次回购股份的资金总额不低于人民币 5,000 万 元（含），且不超过人民币 10,000 万元（含），回购股份价格不超过人 民币 9 元/股（含），按回购价格上限和回购资金总额下限测算，预计回 购股份数量约为 555 万股，约占公司目前已发行总股本比例为 0.83%； 按回购价格上限和回购资金总额上限测算，预计回购股份数量约为 1,110 万股，约占公司目前已发行总股本比例为 1.66%，具体回购股份数 量以回购期满时实际回购的股份数量为准。回购实施期限自公司第四届 董事会第二十五次会议审议通过本次回购股份方案之日起 12 个月内。 本次回购方案详见公司于 2024 年 11 月 11 日发布在巨潮资讯网 （www.cninfo.com.cn）的《关于以集中竞价交易方式回购公司股份方案 暨取得金融机构股 ...

一、套期保值业务基本情况 重庆顺博铝合金股份有限公司（以下简称"公司"）分别于 2024 年 12 月 30 日召开第四届董事会第二十六次会议、第四届监事会第二十一 次会议，于 2025 年 1 月 16 日召开 2025 年第一次临时股东大会，审议通 过了《关于开展商品期货期权套期保值业务的议案》。为利用期货市场 的套期保值功能，锁定原材料价格，减少相关产品价格波动给公司生产 经营带来的不确定性影响，公司开展商品期货期权套期保值业务。投资 种类仅限于公司及下属公司经营相关原材料，且任一时点套期保值业务 保证金和权利金最高余额不超过 12,000 万元，有效期内可循环滚动使 用，投资期限自公司股东大会审议通过之日起 12 个月内。具体内容详见 公司于 2024 年 12 月 31 日披露在巨潮资讯网（www.cninfo.com.cn）的 《关于开展商品期货期权套期保值业务的公告》（公告编号：2024-090）。 | 证券代码：002996 | 证券简称：顺博合金 | 公告编号：2025-039 | | --- | --- | --- | | 债券代码：127068 | 债券简称：顺博转债 | | 重庆顺博铝 ...

国海证券股份有限公司 关于重庆顺博铝合金股份有限公司的 专项现场检查报告 国海证券股份有限公司（以下简称"国海证券"或"保荐机构"）作为重庆顺博 铝合金股份有限公司（以下简称"顺博合金"或"公司"）向特定对象发行股票的保 荐机构，根据《证券发行上市保荐业务管理办法》《深圳证券交易所股票上市规 则》《深圳证券交易所上市公司自律监管指引第 13 号—保荐业务》《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》等有关法律法规 和规范性文件的要求，对公司未就相关关联交易履行决策程序并及时披露收到重 庆证监局警示函及深交所监管函事项进行了专项现场检查，现将本次专项现场检 查的具体情况汇报如下： 一、现场检查的基本情况 2024 年度公司全资孙公司安徽望博再生资源回收有限责任公司与关联自然 人杜嘉慧、俞璨、胡勇胜发生原材料采购关联交易，交易金额合计 1,429.02 万元， 占公司 2024 年经审计净资产的 0.446%。杜嘉慧、俞璨、胡勇胜系公司持股 5% 以上股东杜福昌的关系密切家庭成员，杜嘉慧系杜福昌的女儿，俞璨系杜福昌的 儿子的配偶，胡勇胜系杜福昌的女儿的配偶。公司未就相关关联交易履行决策 ...

| 证券代码：002996 | 证券简称：顺博合金 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：127068 | 债券简称：顺博转债 | | 重庆顺博铝合金股份有限公司 关于顺博转债恢复转股的提示性公告 1 / 2 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： 1、证券代码：002996 证券简称：顺博合金 2、债券代码：127068 债券简称：顺博转债 3、转股期限：2023 年 2 月 20 日至 2028 年 8 月 11 日 4、暂停转股时间：2025 年 5 月 21 日至 2025 年 5 月 28 日 5、恢复转股时间：2025 年 5 月 29 日 重庆顺博铝合金股份有限公司（以下简称"公司"）因实施 2024 年度权益分派，根据《深圳证券交易所上市公司自律监管指南第 1 号— —业务办理》及《重庆顺博铝合金股份有限公司公开发行可转换公司债 券募集说明书》等相关规定，公司可转换公司债券"顺博转债"自 2025 年 5 月 21 日至 2024 年度权益分派股权登记日（即 2025 年 ...

Group 1 - The company has announced an adjustment to the conversion price of its convertible bonds from 11.32 yuan per share to 11.27 yuan per share due to a cash dividend distribution [3][4] - The total number of shares for the dividend distribution is 660,831,161 shares, with a cash dividend of 0.5 yuan per 10 shares, resulting in a total cash dividend of approximately 33.04 million yuan [2][3] - The adjusted conversion price will take effect from May 29, 2025 [4] Group 2 - The company issued 8.3 million convertible bonds in 2022, with a total issuance amount of 830 million yuan [1] - The adjustment formula for the conversion price is based on various corporate actions such as cash dividends, stock dividends, and capital increases [1][2] - The company will disclose any changes to the conversion price in accordance with relevant regulations and ensure the protection of bondholders' rights [2]

Core Points - The company announced a cash dividend distribution plan for the fiscal year 2024, approved at the shareholders' meeting on May 16, 2025, with a distribution of RMB 0.5 per 10 shares [2][3] - The total number of shares eligible for the dividend distribution is 660,831,161 shares after excluding 8,605,420 shares held in the company's repurchase account [2][3] - The total cash dividend amount to be distributed is RMB 33,041,558.05, calculated based on the eligible shares [3][6] Dividend Distribution Details - The cash dividend will be distributed to all shareholders registered by the close of trading on May 28, 2025, with the payment date set for May 29, 2025 [4][5] - The dividend will be subject to different tax rates based on the type of shares held by investors, with specific provisions for QFII, RQFII, and individual investors [3][4] - The reference price for the stock after the dividend distribution will be adjusted by subtracting the cash dividend amount from the closing price on the record date [6][7] Adjustments and Implications - Following the dividend distribution, the conversion price of the company's convertible bonds will be adjusted from RMB 11.32 per share [7] - The maximum repurchase price for the company's shares will be adjusted to RMB 8.95 per share after accounting for the cash dividend [6][7] - The company has committed to ensuring that any changes in total share capital before the record date will not affect the distribution ratio [2][3]