Group 1 - The core point of the article is that Lichong Group's subsidiary has obtained certification for non-heat-treated alloy materials from a leading new energy vehicle company, which is expected to positively impact the company's future operating performance [1] - The certification is anticipated to enhance the company's overall profitability and market share [1]

| | | 立中四通轻合金集团股份有限公司全资子公司安徽立中合金科技有限公司 于近日取得某头部新能源车企的免热处理合金材料的认证。 二、认证的主要内容 1、供应商名称：安徽立中合金科技有限公司 2、认证内容：客户对安徽立中合金供应的一体化压铸免热处理合金材料进 行了评估认证，该材料已通过认证。 立中四通轻合金集团股份有限公司（以下简称"公司"）全资子公司安徽立 中合金科技有限公司（以下简称"安徽立中合金"）于近日取得某头部新能 源车企（限于保密协议，无法披露其名称，以下简称"客户"）免热处理合 金材料的认证证书。 本次公司获得客户免热处理合金材料的认证，预计将对公司未来的经营业绩 产生积极影响，有利于提升公司整体盈利能力和市场占有率。 本次客户认证是客户对公司供应一体化压铸免热处理合金材料技术的最终 认可，若原材料（包括回收料比例和来源）、产线、工艺及其他因素对材料/ 铝锭性能有显著影响，不排除重新认证的可能性。 本次客户认证不构成最终订单或销售合同，产品的实际供货时间、供货价格、 供货数量以正式供货协议或销售订单为准，存在不确定性影响。 立中四通轻合金集团股份有限公司 关于获得客户免热处理合金材料认证的公告 ...

证券代码：300428 证券简称：立中集团 公告编号：2024-113 号 债券代码：123212 债券简称：立中转债 立中四通轻合金集团股份有限公司 关于接待投资者调研活动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 立中四通轻合金集团股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日以通讯方式接待了机构调研，现将主要情况公告如下: 一、调研情况 1、调研时间：2024 年 10 月 25 日 2、调研形式：线上路演 3、参会人员：立中集团副总裁、董事会秘书李志国；立中集团证券事务代表 冯禹淇。 | --- | --- | --- | |-------|--------------------|------------------------| | | 序号 机构名称 姓名 | | | 1 | 华创证券 | 李昊岚 | | 2 | 兴业证券 | 赵远喆 | | 3 | 中邮证券 | 付秉正 | | 4 | 安信证券 | 支露静、何冠男、周古玥 | | 5 | 民生证券 | 袁浩、陆欣茹、唐梦涵 | | 6 | 华泰证券 | 王鑫延 ...

Investment Rating - The report maintains a "Buy" rating for Lizhong Group (300428 SZ) [1] Core Views - Lizhong Group's Q3 2024 profits declined year-over-year, with net profit attributable to shareholders dropping by 32 85% to 111 million yuan [2] - The company's Q1-Q3 2024 revenue reached 19 37 billion yuan, up 13 09% year-over-year, while net profit attributable to shareholders increased by 19 09% to 493 million yuan [2] - Lizhong Group is a leader in the recycled aluminum industry, with recycled aluminum procurement volume reaching 351 3 thousand tons in H1 2024, up 28 68% year-over-year [3] - The company recently secured a large order worth 5 53 billion yuan, which is expected to contribute to future performance [3] - The company's non heat treatment alloy materials have received certifications and project approvals from major new energy vehicle manufacturers, potentially boosting profitability [3] Financial Performance and Forecast - The report forecasts Lizhong Group's revenue for 2024-2026 to be 27 46 billion yuan, 31 47 billion yuan, and 35 98 billion yuan, respectively [3] - Net profit attributable to shareholders is projected to be 712 million yuan, 1 01 billion yuan, and 1 16 billion yuan for 2024-2026, respectively [3] - The company's PE ratio is expected to be 16 53x, 11 71x, and 10 15x for 2024-2026 [3] Industry and Market Position - Lizhong Group is one of the largest recycled casting aluminum alloy producers in China, with a strong focus on green development [3] - The company benefits from national policies promoting large-scale equipment updates and consumer goods replacement, which are expected to drive the recycled metal industry [3] - Lizhong Group has expanded its overseas aluminum alloy production capacity, leveraging its global layout for dual-cycle development in recycled aluminum resource utilization [3] Key Developments - The company's non heat treatment alloy materials have entered the mass production phase, with further R&D efforts to expand their application in various fields [3] - Subsidiaries have received significant orders for aluminum wheel projects, with expected sales of 5 24 billion yuan and 290 million yuan over their respective project lifecycles [3]

Financial Performance - In Q3 2024, the company achieved a total revenue of 19.369 billion CNY, representing a year-on-year increase of 13.09% [1] - The net profit attributable to shareholders was 4.93 billion CNY, up 19.09% compared to the same period last year [1] - The adjusted net profit, excluding stock incentive amortization, was 5.33 billion CNY, reflecting a growth of 6.84% year-on-year [1] Business Development - The company actively responded to domestic and international market competition, enhancing market expansion efforts and achieving good progress in new products and projects [1] - The demand for recycled aluminum alloy casting business continued to grow, although market competition increased [2] - The company has successfully developed new materials such as integrated die-casting non-heat-treated alloy materials and low-carbon A356 alloys, which have entered large-scale production [1][2] Product Innovation - The company has developed silicon-aluminum dispersion composite materials suitable for aerospace, electronics packaging, and semiconductor applications, which offer advantages like low expansion and high thermal conductivity [2] - New products in the aluminum alloy wheel sector have been developed, focusing on high-end, large-size, and low-carbon products, with several projects secured from international automotive manufacturers [2][4] Strategic Initiatives - The establishment of a recycling company for waste materials and the management of recycled copper and aluminum imports by the government provide positive policy support for the company's recycled aluminum alloy business [3] - The company has expanded its overseas presence by establishing factories in Thailand and Mexico to meet growing demand and mitigate trade barriers [4] Research and Development - The company emphasizes R&D in new products and technologies, achieving significant advancements in various high-performance aluminum alloys [3][4] - Recent innovations include low-carbon A356 wheels and various rare earth and high-entropy alloys, enhancing the company's competitive edge in the market [4]

证 券 研 究 报 告 立中集团（300428）2024 年三季报点评 强推（维持） 3Q 营收续创新高，业绩短期承压 目标价：22.3 元 当前价：18.59 元 事项： 公司发布 2024 年三季报，前三季度营收 194 亿元、同比+13%，归母净利 4.93 亿元、同比+19%。 评论： 3Q 营收续创历史新高，同比表现好于行业，环比与行业基本一致。3Q24 公司 实现营收 69 亿元、同环比+10%/+5%，同期国内乘用车批发 664 万辆、同环比 -2%/+7%（铸造铝合金业务占比超 50%，近 100%为国内），3Q 沪铝均价同环 比+4%/-5%。估计营收同比增长受益于量、铝价，环比基本符合行业表现。 产能爬坡或影响毛利、墨西哥比索汇率依然有压力。3Q24 公司实现归母净利 1.11 亿、同比-33%、环比+3%，不含股权激励费用归母 1.21 亿元、同环比36%/+5%，扣非归母 0.83 亿元、同环比-46%/-6%，具体地： 1) 毛利率：9.4%、同同环比-1.6PP/-0.7PP，也是业绩低于预期的主要原因，具体 估计： ① 墨西哥产能爬坡初期折旧压力可能较大； ② 3Q CFII 运 ...

| | | 一、审议《2024 年第三季度报告的议案》 经核查，董事会认为：公司《2024 年第三季度报告》的编制符合法律、行 政法规和中国证监会的有关规定，报告内容真实、准确、完整地反映了公司的实 际情况，不存在任何虚假记载、误导性陈述或重大遗漏。 董事会审计委员会通过了此议案，具体内容详见公司同日披露于巨潮资讯网 （www.cninfo.com.cn）的《2024 年第三季度报告》。 表决结果：同意票数为 7 票，反对票数为 0 票，弃权票数为 0 票。 特此公告。 立中四通轻合金集团股份有限公司 第五届董事会第二十二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 立中四通轻合金集团股份有限公司（以下简称"公司"）第五届董事会第二十 二次会议于 2024 年 10 月 21 日以通讯或邮件方式向全体董事传达召开第五届董 事会第二十二次会议的通知。本次会议于 2024 年 10 月 24 日以现场和通讯方式 召开。本次会议应出席董事 7 名，实际出席董事 7 名，其中独立董事 3 人。本次 会议由董事长臧永兴先生主持，公司监事、高级管理人员列 ...

Financial Performance - The company's revenue for Q3 2024 was ¥6,853,797,328.53, representing a year-over-year increase of 9.83%[2] - Net profit attributable to shareholders for Q3 2024 was ¥111,058,948.35, a decrease of 32.85% compared to the same period last year[2] - The net profit excluding non-recurring gains and losses was ¥83,424,522.24, down 46.08% year-over-year[2] - The company's basic earnings per share decreased by 37.04% to ¥0.78 for the current period[2] - Total operating revenue for the period reached CNY 19,369,141,598.82, an increase of 13.0% compared to CNY 17,127,356,942.51 in the previous period[16] - Net profit attributable to shareholders of the parent company was CNY 493,344,866.07, up 19.1% from CNY 414,253,958.73 in the same period last year[17] - Operating profit for the period was CNY 591,168,306.21, an increase of 21.4% compared to CNY 486,887,182.57 in the previous period[17] - The company reported a total profit of CNY 590,657,193.88, up from CNY 486,920,315.27, reflecting a growth of 21.4%[17] - Earnings per share (basic) increased to CNY 0.78, compared to CNY 0.67 in the previous period, marking a growth of 16.4%[17] Assets and Liabilities - Total assets at the end of Q3 2024 reached ¥20,834,018,975.70, an increase of 11.29% from the end of the previous year[2] - The company's equity attributable to shareholders was ¥7,111,836,603.75, reflecting a growth of 6.81% compared to the previous year[2] - Total liabilities reached CNY 13.50 billion, compared to CNY 11.85 billion, an increase of about 14.0%[15] - Non-current assets totaled CNY 5.98 billion, slightly up from CNY 5.85 billion, reflecting a growth of approximately 2.4%[15] - Current assets rose to CNY 14.85 billion, compared to CNY 12.87 billion at the beginning of the period, an increase of about 15.3%[15] - Total cash inflow from investment activities was CNY 773,774,956.08, down from CNY 1,231,874,976.08 in the previous year[18] Cash Flow - The net cash flow from operating activities was negative at -¥806,371,819.97, a decline of 284.68% year-over-year[2] - Net cash flow from operating activities decreased by 284.68% to a loss of CNY 806,371,819.98, mainly due to increased inventory and accounts receivable balances[6] - Net cash flow from investing activities was CNY 1,082,071,437.87, a decrease of 30.93%, as investment payments exceeded receipts[6] - Net cash flow from financing activities increased by 44.28% to CNY 1,350,204,417.32, primarily due to an increase in net bank borrowings[6] - Cash inflow from financing activities totaled CNY 9,420,089,417.15, up from CNY 8,803,369,486.97 in the previous year, representing a growth of 7.0%[19] - Cash outflow from investing activities was CNY 1,855,846,393.95, a decrease from CNY 2,058,302,766.46 in the previous year[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 23,617[7] - The largest shareholder, Tianjin Dong'an Brothers, holds 36.03% of the shares, totaling 227,971,910 shares[7] - Minority shareholders' profit increased by 124.75% to CNY 10,968,658.11, attributed to increased profits from subsidiaries with minority interests[6] - The company has a total of 30,857,600 shares held by individual shareholder Zang Na, indicating significant individual investment[9] Research and Development - The company’s R&D expenses increased by 60.58%, reaching ¥1,277,927.01, indicating a focus on innovation[5] - Research and development expenses increased to CNY 684,191,399.17, representing a rise of 24.6% from CNY 548,940,309.94 in the previous period[16] Governance and Compliance - The company has revised and established several governance systems to improve operational standards and governance structure[11] - The company has established a new system for managing major errors in annual report disclosures to enhance transparency[11] - The company has implemented a "Quality Return Dual Improvement" action plan aimed at enhancing investor confidence and promoting high-quality development[12] Financial Adjustments - Financial expenses increased by 63.70% to CNY 265,484,309.80 due to exchange losses in the current period compared to exchange gains in the same period last year[6] - Investment income decreased by 420.58% to a loss of CNY 14,595,592.84, primarily due to increased foreign exchange forward gains but reduced financial and futures income[6] - Credit impairment losses increased by 386.81% to CNY 157,284,658.99, due to changes in the estimated provision for bad debts[6] Convertible Bonds - The company paid the first-year interest on its convertible bonds at a rate of 0.30%, amounting to RMB 3.00 per 10 bonds[13] - As of the third quarter of 2024, the company reduced its convertible bonds by 185 bonds, resulting in a conversion of 968 shares[13] - The company has not made any downward adjustments to the conversion price of its convertible bonds as of August 30, 2024[13] - The company disclosed that the net asset value per share for the year 2023 was RMB 10.64[13]

债券代码：123212 债券简称：立中转债 股票代码：300428 股票简称：立中集团 公告编号：2024-112 号 立中四通轻合金集团股份有限公司 具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的《2024 年第三季度报告》。 表决结果：同意票数为3票，反对票数为0票，弃权票数为0票。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 立中四通轻合金集团股份有限公司（以下简称"公司"）第五届监事会第十 七次会议于2024年10月24日以现场结合通讯方式召开，本次会议已于2024年10 月21日以传真、电子邮件和电话等方式通知全体监事。此次会议应到监事3人， 实到监事3人，公司董事会秘书李志国先生列席了会议。 此次会议由监事会主席赵清华先生主持，与会监事认真审议后，以现场表决 的方式审议通过了如下议案： 一、审议《2024 年第三季度报告的议案》 经核查，监事会认为：公司《2024年第三季度报告》的编制符合法律、行政 法规和中国证监会的有关规定，报告内容真实、准确、完整地反映了公司的实际 情况，不存在任何虚假记载、误导性陈述或重大遗 ...

证券代码： 300428 证券简称：立中集团 债券代码：123212 债券简称：立中转债 立中四通轻合金集团股份有限公司 投资者关系活动记录表 2024-010 | --- | --- | --- | |-------------------------|-----------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...