Group 1: Aluminum Processing Business - The company has an aluminum foil production capacity of 25.5 million tons after the completion of ongoing projects [2] - The total production capacity for aluminum plate and strip is 26 million tons, with 13 million tons each from Jiangsu and Anhui bases, and an additional 13 million tons from Sichuan [2] - In the first half of 2025, the aluminum processing business achieved revenue of 2.398 billion yuan, a year-on-year increase of 12%, with aluminum foil sales slightly down by 4.7% and aluminum plate and strip sales up by 25% [2] Group 2: Functional Film Business - The functional film business focuses on high barrier films, smart conductive films, car wrap films, and energy-saving films [4] - Despite a decline in sales due to market price competition, the company improved the gross margin by adjusting the product structure [4] - Future development will target high-potential markets for functional films, including automotive smart roofs and high-end packaging [5] Group 3: Paper Packaging Materials Business - The paper packaging materials segment, primarily involving special paper products for tobacco and alcohol packaging, generated revenue of 223 million yuan in the first half of 2025, a year-on-year increase of 17% [6] - Sales volume reached 17,000 tons, reflecting a 12% year-on-year growth, with high-value specialty transfer paper products driving margin improvements [6]

Group 1: Company Performance and Strategy - The company aims to enhance its profitability by optimizing its business structure and expanding into high-value-added product markets, particularly in aluminum processing, paper packaging materials, and functional films [2][3] - The company has developed high-performance battery aluminum foil products, which have passed customer validation and are now in mass production, contributing to the growth of its aluminum processing business [2] - The company plans to continue focusing on improving operational performance as a core aspect of its market value management strategy [3][4] Group 2: Financial Performance and Market Position - The company reported a loss in net profit for the first half of the year, primarily due to increased domestic and international aluminum price discrepancies, declining processing fees, and new capacity still ramping up [3][4] - As of September 10, 2025, the total number of shareholders, including credit accounts, was 47,391 [4] - The company has implemented measures such as share buybacks and major shareholder increases to maintain market value despite being in a prolonged undervalued state [4] Group 3: Product Development and Market Demand - The company supplies battery aluminum foil to several leading battery manufacturers, with applications depending on customer demand [3] - The company holds a leading position in the domestic market for AR anti-reflective film products, with ongoing developments in the functional film sector [3] Group 4: Future Outlook - The company is optimistic about reversing its performance trends and achieving growth in the solid-state battery and consumer electronics supply chains [3] - Future decisions regarding the redemption of convertible bonds will be made by the board of directors, with timely disclosures to be provided [2]

证券代码：300057 证券简称：万顺新材 公告编号：2025-037 债券代码：123085 债券简称：万顺转 2 汕头万顺新材集团股份有限公司 关于控股股东、实际控制人因可转债转股持股比例被动稀释触及 5%整数倍的公告 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，不存 在虚假记载，误导性陈述或者重大遗漏。 特别提示： （一）本次权益变动主要系汕头万顺新材集团股份有限公司（以下简 称"公司"）可转债转股导致总股本增加，控股股东、实际控制人持股比 例被动稀释触及 5%的整数倍，不涉及持股数量发生变化。 （二）本次权益变动不涉及要约收购，不会导致公司控股股东及实际 控制人发生变化，不会影响公司的治理结构和持续经营。 1.基本情况 信息披露义务人 杜成城 住所 广东省汕头市 权益变动时间 2024 年 2 月 5 日至 2025 年 9 月 17 日 股票简称 万顺新材 股票代码 300057 变动方向 （可多选） 上升□ 下降☑ 一致行动人 有□ 无☑ 是否为第一大股东或实际控制人 是☑ 否□ 2.本次权益变动情况 股份种类（A 股、B 股等） 增持/减持股数（万股） 增持/减持比例（%） A 股 ...

Market Overview - On September 17, the industrial metals sector rose by 0.21% compared to the previous trading day, with Electric Alloy leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Top Gainers in Industrial Metals - Electric Alloy (300697) closed at 19.49, up 11.88% with a trading volume of 721,400 shares and a transaction value of 1.317 billion yuan [1] - Yiqiu Resources (601388) closed at 3.26, up 10.14% with a trading volume of 2,584,200 shares and a transaction value of 814 million yuan [1] - Liyuan Co. (002501) closed at 2.74, up 10.04% with a trading volume of 1,663,200 shares and a transaction value of 439 million yuan [1] - Northern Copper (000737) closed at 15.25, up 10.03% with a trading volume of 2,801,700 shares and a transaction value of 4.067 billion yuan [1] - Other notable gainers include Yian Technology (300328) and Wanshun New Materials (300057) with increases of 8.14% and 7.85% respectively [1] Top Losers in Industrial Metals - Xingye Silver Tin (000426) closed at 25.00, down 4.58% with a trading volume of 620,700 shares and a transaction value of 1.559 billion yuan [2] - Shengda Resources (000603) closed at 21.20, down 3.37% with a trading volume of 323,700 shares and a transaction value of 685 million yuan [2] - Hailiang Co. (002203) closed at 12.21, down 3.17% with a trading volume of 443,300 shares and a transaction value of 546 million yuan [2] Capital Flow Analysis - On the same day, the industrial metals sector experienced a net outflow of 653 million yuan from institutional investors, while retail investors saw a net inflow of 740 million yuan [2] - The capital flow data indicates that Northern Copper (000737) had a net inflow of 48.216 million yuan from institutional investors, while it faced a net outflow of 191 million yuan from speculative funds [3] - Yiqiu Resources (601388) and Liyuan Co. (002501) also showed significant net outflows from speculative funds, indicating a shift in investor sentiment [3]

Group 1 - The core viewpoint of the news is that Wanshun New Materials has shown a mixed performance in stock price and financial results, with a notable increase in stock price year-to-date but a decline in revenue and net profit for the first half of 2025 [1][2]. - As of September 16, Wanshun New Materials' stock price increased by 2.30% to 6.24 CNY per share, with a total market capitalization of 5.567 billion CNY and a trading volume of 182 million CNY [1]. - The company has experienced a year-to-date stock price increase of 29.73%, but a slight decline of 1.27% over the last five trading days [1]. Group 2 - Wanshun New Materials operates primarily in the aluminum processing sector, with 89.05% of its revenue coming from aluminum products, while other segments include paper products and functional films [1][2]. - For the first half of 2025, the company reported a revenue of 2.692 billion CNY, a year-on-year decrease of 10.11%, and a net profit of -53.0638 million CNY, reflecting a significant decline of 469.00% [2]. - The company has distributed a total of 433.4 million CNY in dividends since its A-share listing, with 53.3271 million CNY distributed in the last three years [3].

Group 1 - The company has a technological advantage in solid-state battery composite materials [2] - The company supplies battery aluminum foil to several leading battery enterprises [2] - The products can be applied to solid-state battery current collectors and soft-pack battery aluminum-plastic films [2]

Group 1 - The company Wan Shun New Materials (300057.SZ) has announced that its battery aluminum foil products can be applied to solid-state battery current collectors and soft-pack battery aluminum-plastic films [1]

Core Viewpoint - Wan Shun New Materials (300057.SZ) is actively developing battery aluminum foil products for solid-state batteries and has established supply relationships with several leading battery companies, with product applications depending on customer needs [1] Group 1: Product Development - The company is focusing on the development of high-elongation battery aluminum foil, high-die battery aluminum foil, and ultra-thin battery aluminum foil [1] - High-elongation battery aluminum foil has passed customer usage verification and is now being supplied in bulk, enhancing the growth potential of the aluminum processing business [1]

Market Overview - On September 5, the industrial metals sector rose by 4.12% compared to the previous trading day, with Xinweiling leading the gains [1] - The Shanghai Composite Index closed at 3812.51, up 1.24%, while the Shenzhen Component Index closed at 12590.56, up 3.89% [1] Individual Stock Performance - Xinweiling (871634) closed at 31.28, with a gain of 7.60% and a trading volume of 48,800 shares, amounting to a transaction value of 149 million [1] - Baiyin Youse (601212) closed at 4.09, up 7.07%, with a trading volume of 4.8869 million shares and a transaction value of 1.953 billion [1] - Xizang Zhufeng (600338) closed at 12.84, gaining 7.00%, with a trading volume of 858,800 shares and a transaction value of 1.078 billion [1] - Other notable performers include Xingye Yinxin (000426) with a 5.90% increase, Guocheng Mining (000688) up 5.70%, and Dingsheng New Materials (603876) up 5.30% [1] Capital Flow Analysis - The industrial metals sector saw a net inflow of 1.36 billion in main funds, while retail funds experienced a net outflow of 298 million [1] - Major stocks like Zijin Mining (668109) had a net inflow of 756 million from main funds but a net outflow of 357 million from retail funds [2] - Jiangxi Copper (600362) reported a net inflow of 176 million from main funds, with retail funds seeing a net outflow of 131 million [2]

Group 1 - The core viewpoint of the news is that Wanshun New Materials experienced a decline in stock price, dropping by 5.11% to 6.13 CNY per share, with a trading volume of 320 million CNY and a turnover rate of 7.11%, resulting in a total market capitalization of 5.468 billion CNY [1] - Wanshun New Materials, established on March 6, 1998, and listed on February 26, 2010, is located in the Shantou Free Trade Zone, Guangdong Province. The company specializes in the production and sales of aluminum foil/aluminum plates, paper products, optoelectronic products, packaging materials, and related trade [1] - The main business revenue composition of Wanshun New Materials includes aluminum processing products at 71.93%, trading business at 18.67%, transfer paper at 5.98%, composite paper at 1.41%, other businesses at 1.22%, and functional film business at 0.80% [1] Group 2 - From the perspective of fund holdings, one fund under GF Fund has a significant position in Wanshun New Materials. The GF CSI 2000 ETF (560220) held 57,900 shares in the second quarter, accounting for 0.59% of the fund's net value, ranking as the eighth largest holding [2] - The GF CSI 2000 ETF (560220) was established on September 8, 2023, with a latest scale of 53.7022 million CNY. Year-to-date, it has achieved a return of 34.45%, ranking 891 out of 4222 in its category, and an annual return of 82.6%, ranking 712 out of 3783 [2] - The fund manager of GF CSI 2000 ETF (560220) is Xia Haoyang, who has a tenure of 4 years and 108 days, managing total assets of 7.708 billion CNY, with the best fund return during his tenure being 51.79% and the worst being -43.51% [2]