顺博合金：大成基金、瑞众保险等多家机构于8月7日调研我司

Core Viewpoint - The company, Shunbo Alloy (002996), reported significant growth in its half-year performance for 2025, with a notable increase in both revenue and net profit, driven by expanded production capacity and diversified product applications [2][9]. Financial Performance - In the first half of 2025, the company achieved operating revenue of 712.63 million yuan, representing a year-on-year increase of 11.75% - The net profit attributable to shareholders was 17.66 million yuan, showing a substantial year-on-year growth of 110.56% - Product sales volume increased by 7.27% compared to the previous period [2][9]. Production Capacity - The release of 400,000 tons of casting aluminum alloy capacity in Anhui during the first half of 2025 contributed to improved production efficiency and increased overall capacity utilization [3]. - The company has established four major production bases in Chongqing, Guangdong, Hubei, and Anhui, with a total capacity of 1.05 million tons in the casting aluminum alloy sector [4]. Product and Customer Base - The main products include various grades of recycled aluminum alloy ingots, with DC12 being the most widely used grade - The customer base primarily consists of die-casting supporting enterprises, with products sold mainly in Southwest, South China, East China, and Central China regions, serving industries such as automotive, machinery, electronics, and lighting [5]. Industry Landscape - The Ministry of Industry and Information Technology has set ambitious targets for the aluminum industry, aiming for a significant increase in domestic resource availability and recycled aluminum production by 2027, indicating a broad market development potential [6]. Competitive Advantages - The company benefits from a diversified regional layout, which helps maintain local supplier and customer relationships, reduces transportation costs, and enhances market share [7][8]. - The diverse application of products across various industries further strengthens the company's resilience against market fluctuations [8]. Impact of Trade War - The company's operations are primarily domestic, with no direct exports, thus insulating it from the impacts of trade wars on its performance [9].