Ge Long Hui A P P·2025-11-10 05:30Core Viewpoint - Dongfang Securities report indicates that Mingtai Aluminum's production and sales of aluminum plates and foils for Q1-Q3 2025 were 1.1808 million tons and 1.1747 million tons respectively, with a strong focus on high-end, green, and intelligent development strategies [1] Production and Sales Performance - For Q3 2025, the company produced 384,200 tons and sold 396,900 tons of aluminum plates and foils [1] - The processing business's pre-tax profit per ton increased from approximately 1,300 RMB in Q1 2025 to over 1,500 RMB by Q3 2025 [1] Profitability and Strategic Focus - The company aims to enhance high-end product yield, which drives stable processing fees, while intelligent manufacturing contributes to cost reduction and efficiency improvement [1] - The processing profit per ton is expected to continue to rise steadily [1] Valuation and Investment Rating - Based on comparable companies' 2025 PE valuation levels, the company is assigned a 12X valuation, leading to a target price of 19.8 RMB, maintaining a "Buy" rating [1]