Group 1: Company Performance - In Q3 2024, the company achieved a total revenue of 19.369 billion CNY, representing a year-on-year growth of 13.09% [4] - The net profit attributable to shareholders was 493 million CNY, an increase of 19.09% compared to the same period last year [4] - Excluding stock incentive amortization expenses, the adjusted net profit was 533 million CNY, reflecting a growth of 6.84% year-on-year [4] Group 2: Product Development and Market Expansion - The company has made significant progress in the development and mass production of new materials, including integrated die-casting non-heat-treated alloy materials and low-carbon A356 alloys [4][7] - The company’s silicon-aluminum dispersion composite materials are applicable in aerospace, electronics packaging, and semiconductor fields, enhancing product versatility [5] - The integrated die-casting non-heat-treated materials have gained certification from several leading new energy vehicle manufacturers, indicating strong market acceptance [7] Group 3: Policy and Market Environment - The establishment of the China Resource Recycling Group and the announcement of recycled copper and aluminum import management policies provide positive support for the company’s recycled aluminum alloy business [6] - These policies are expected to alleviate market supply-demand tensions and reduce material costs, thereby enhancing profitability [6] Group 4: International Expansion - The company established its first overseas aluminum alloy wheel factory in Thailand in 2010 to counter EU anti-dumping measures [9] - In 2024, the commissioning of the Mexican aluminum alloy wheel factory further strengthens the company’s global supply chain and strategic partnerships [9][10] - The overseas capacity expansion allows the company to utilize local resource advantages and enhance the recycling of overseas recycled aluminum [10]

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]

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 22.3 CNY, compared to the current price of 18.59 CNY [1]. Core Insights - The company reported a revenue of 19.4 billion CNY for the first three quarters of 2024, representing a year-on-year increase of 13%, and a net profit attributable to shareholders of 493 million CNY, up 19% year-on-year [1]. - In Q3 2024, the company achieved a revenue of 6.9 billion CNY, with a year-on-year growth of 10% and a quarter-on-quarter growth of 5% [1]. - The growth in revenue is attributed to both volume and aluminum prices, while the gross margin was impacted by initial depreciation pressures from new capacity in Mexico and fluctuations in aluminum prices [1]. Financial Summary - Total revenue for 2023 is projected at 23.365 billion CNY, with expected growth rates of 9.3% for 2023, 7.4% for 2024, 10.7% for 2025, and 14.7% for 2026 [2]. - The net profit attributable to shareholders is forecasted to be 606 million CNY for 2023, with growth rates of 23.0% for 2023, 7.8% for 2024, 16.1% for 2025, and 17.8% for 2026 [2]. - The earnings per share (EPS) is expected to be 0.96 CNY for 2023, increasing to 1.03 CNY in 2024, 1.20 CNY in 2025, and 1.41 CNY in 2026 [2]. Production and Market Position - The company has successfully launched its heat-free materials in the market, with significant partnerships and certifications from leading new energy vehicle manufacturers [1]. - The production capacity ramp-up in Mexico is expected to influence gross margins, with ongoing pressures from currency fluctuations and market conditions [1].

| | | 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 | --- | --- | --- | |-------------------------|-----------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

| 证券代码：300428 | 证券简称：立中集团 | 公告编号：2024-108 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 关于参加 2024 年河北辖区上市公司投资者网上集体接待日 暨 2024 年半年报业绩说明会的公告 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。 为进一步加强与投资者的互动交流，立中四通轻合金集团股份有限公司(以 下简称"公司")将参加由河北证监局、河北上市公司协会与深圳市全景网络有 限公司联合举办的"2024 年度河北辖区上市公司投资者网上集体接待日暨 2024 年半年报业绩说明会活动"，现将相关事项公告如下: 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 (http://rs.p5w.net)，或关注微信公众号:全景财经，或下载全景路演 APP，参 与本次互动交流，活动时间为 2024 年 10 月 15 日(周二)15:00-17:00。 届时公司董事长、总裁臧永兴先生，公司副总裁兼董事会秘书李志国先生， 财务总监 ...

（一）可转债发行情况 经中国证券监督管理委员会《关于同意立中四通轻合金集团股份有限公司向 不特定对象发行可转换公司债券注册的批复》(证监许可〔2023〕1460 号)同意， 立中四通轻合金集团股份有限公司（以下简称"公司"）于 2023 年 7 月 27 日向 不特定对象发行可转换公司债券 899.80 万张，每张面值为人民币 100 元，共计 募集资金 89,980.00 万元，扣除承销保荐费后的余额已由保荐人（主承销商）中 原证券股份有限公司于 2023 年 8 月 2 日汇入公司指定的募集资金专项存储账户。 容诚会计师事务所（特殊普通合伙）已进行验资，并出具了容诚验字（2023）第 251Z0009 号《验资报告》。 | | | 立中四通轻合金集团股份有限公司 关于"立中转债"2024 年第三季度转股情况的公告 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。 特别提示： 根据《深圳证券交易所创业板股票上市规则》《深圳证券交易所可转换公司 债券业务实施细则》的有关规定，立中四通轻合金集团股份有限公司（以下简称 "公司"）现将 2024 年第三季度可转换公司 ...