神火股份：铝业务持续发力 上半年营收同比增长12.12%

Core Viewpoint - In the first half of 2025, the company reported a revenue of 20.428 billion yuan, a year-on-year increase of 12.12%, while the net profit attributable to shareholders decreased by 16.62% to 1.904 billion yuan [1] Group 1: Financial Performance - The company's revenue for the first half of 2025 reached 20.428 billion yuan, reflecting a year-on-year growth of 12.12% [1] - The net profit attributable to shareholders was 1.904 billion yuan, showing a decline of 16.62% compared to the previous year [1] - The non-recurring net profit was 2.010 billion yuan, down 6.79% year-on-year [1] Group 2: Business Segments - The non-ferrous metal business generated revenue of 14.182 billion yuan, an increase of 20.79% year-on-year, driven by the full production capacity of the Yunnan hydropower aluminum project [1] - The coal business saw a revenue decrease of 18.99% to 2.887 billion yuan due to a significant drop in selling prices, but the company holds a substantial coal reserve of 1.308 billion tons [1] - The company is involved in the Xinjiang Zhuandong Wucaiwan open-pit mine project, which is currently processing exploration rights, indicating potential future growth in coal production and sales [1] Group 3: Production Capacity - The company has an electrolytic aluminum production capacity of 1.7 million tons per year, with additional capacities for anode carbon blocks and aluminum foil [1] - In the first half of 2025, the production of aluminum products reached 871,100 tons, with sales of 871,400 tons, achieving approximately 51.24% and 51.26% of the annual production and sales targets, respectively [1]