明泰铝业：紧盯市场前沿需求，提高高附加值产品占比

Group 1 - The company is advancing its high-end transformation, focusing on new energy battery materials, lightweight aluminum for automobiles, and aluminum for robotics [1] - The company has established a complete ecosystem for battery materials, including aluminum foil for aluminum-plastic film and liquid cooling plates [1] - The first production line of the "Automotive and Green Energy Aluminum Industrial Park Project" by the subsidiary Hongsheng New Materials is set to be operational by October 2025, enhancing the company's high-end aluminum product system [1] Group 2 - The company has initiated the construction of the "Annual Production of 720,000 Tons of Aluminum-based New Materials Intelligent Manufacturing Project," which will cover various fields including new energy batteries and automotive applications [2] - The overall processing fees for products have been steadily increasing this year, with price adjustments for CTP/PS boards, easy-open lids, and honeycomb foils [2] - The company plans to introduce a laser-induced breakdown spectroscopy line to enhance the recycling of used aluminum products, promoting high-value utilization of waste aluminum [2] Group 3 - The company has reached a consensus on gradually increasing investor returns, implementing a cash dividend plan of 10 for 1 in Q3 2025, and significantly raising the dividend payout ratio [3] - The company aims to increase the annual dividend payout ratio to no less than 30% over the next three years, enhancing returns to investors [3] - The company is focusing on high-end intelligent manufacturing and low-carbon circular economy as key development areas, aiming to improve the proportion of high-value-added products [3]