Core Viewpoint - Nanshan Aluminum has shown significant stock performance with a year-to-date increase of 24.60% and a recent surge of 12.14% over the past five trading days, indicating strong market interest and potential growth opportunities [1]. Company Overview - Nanshan Aluminum, established on March 18, 1993, and listed on December 23, 1999, is located in Longkou City, Shandong Province. The company specializes in the development, production, processing, and sales of aluminum and aluminum alloy products, as well as power generation [2]. - The main revenue sources for Nanshan Aluminum include cold-rolled sheets/plates (52.85%), alumina powder (26.57%), aluminum profiles (10.18%), aluminum foil (4.02%), alloy ingots (2.71%), hot-rolled sheets/plates (2.37%), and other sources [2]. Financial Performance - For the period from January to September 2025, Nanshan Aluminum reported a revenue of 26.325 billion yuan, reflecting a year-on-year growth of 8.66%. The net profit attributable to shareholders was 3.772 billion yuan, with a year-on-year increase of 8.09% [2]. - The company has distributed a total of 10.027 billion yuan in dividends since its A-share listing, with 4.306 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, Nanshan Aluminum had 183,700 shareholders, an increase of 11.00% from the previous period. The average number of tradable shares per shareholder was 63,218, a decrease of 9.91% [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, holding 629 million shares, and China Securities Finance Corporation, holding 589 million shares, with some fluctuations in their holdings compared to the previous period [3].

Core Viewpoint - Tianshan Aluminum has shown significant stock performance with an 82.63% increase year-to-date, reflecting strong market interest and financial growth [1][2]. Financial Performance - For the period from January to September 2025, Tianshan Aluminum achieved a revenue of 22.32 billion yuan, representing a year-on-year growth of 7.34% [2]. - The net profit attributable to shareholders for the same period was 3.34 billion yuan, marking an 8.31% increase compared to the previous year [2]. Stock Market Activity - As of November 3, Tianshan Aluminum's stock price was 13.65 yuan per share, with a market capitalization of 63.498 billion yuan [1]. - The stock has experienced a recent trading volume of 5.90 billion yuan, with a turnover rate of 1.07% [1]. - Over the last five trading days, the stock price increased by 3.54%, and over the last 20 days, it rose by 23.50% [1]. Shareholder Information - As of September 30, the number of shareholders for Tianshan Aluminum was 37,800, a decrease of 23.85% from the previous period [2]. - The average number of circulating shares per shareholder increased by 31.32% to 109,224 shares [2]. Dividend Distribution - Tianshan Aluminum has distributed a total of 7.48 billion yuan in dividends since its A-share listing, with 4.38 billion yuan distributed over the last three years [3]. Major Shareholders - As of September 30, 2025, Hong Kong Central Clearing Limited was the seventh-largest circulating shareholder, holding 131 million shares, an increase of 18.54 million shares from the previous period [3].

Core Viewpoint - Zhongfu Industrial's stock price has shown significant growth this year, with a year-to-date increase of 135.69%, indicating strong market performance and investor interest [1][2]. Group 1: Stock Performance - On November 3, Zhongfu Industrial's stock fell by 2.06%, trading at 6.67 CNY per share, with a total market capitalization of 26.733 billion CNY [1]. - The stock has experienced a 3.09% increase over the last five trading days, a 31.82% increase over the last 20 days, and a 41.01% increase over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on June 27, where it recorded a net buy of -154 million CNY [1]. Group 2: Financial Performance - For the period from January to September 2025, Zhongfu Industrial reported a revenue of 16.633 billion CNY, a year-on-year decrease of 0.60%, while the net profit attributable to shareholders increased by 63.25% to 1.187 billion CNY [2]. - The company's main business revenue composition includes non-ferrous metals at 94.76%, electricity at 9.96%, coal at 2.71%, and other businesses at 0.47% [1]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Zhongfu Industrial increased by 4.73% to 80,800, with an average of 49,618 circulating shares per shareholder, a decrease of 4.51% [2]. - The company has cumulatively distributed 334 million CNY in dividends since its A-share listing, with no dividends paid in the last three years [3]. - New significant shareholders include Yongying Ruixin Mixed A and Yongying Stable Enhanced Bond A, with holdings of 80.129 million shares and 48.579 million shares, respectively [3].

Core Viewpoint - China Aluminum's stock price has shown significant growth this year, with a year-to-date increase of 38.04% and a recent 20-day increase of 30.59% [2] Financial Performance - For the period from January to September 2025, China Aluminum achieved a revenue of 176.516 billion yuan, representing a year-on-year growth of 1.58%. The net profit attributable to shareholders was 10.872 billion yuan, reflecting a year-on-year increase of 20.58% [2] - Cumulative cash dividends since the A-share listing amount to 13.358 billion yuan, with 7.823 billion yuan distributed over the last three years [3] Stock Market Activity - On November 3, China Aluminum's stock price fell by 2.00%, trading at 9.79 yuan per share with a total transaction volume of 1.441 billion yuan and a turnover rate of 1.09% [1] - As of September 30, 2025, the number of shareholders was 356,300, a decrease of 2.91% from the previous period [2] Shareholder Composition - As of September 30, 2025, the largest circulating shareholder was China Securities Finance Corporation, holding 448 million shares, unchanged from the previous period. Other notable shareholders include Huaxia SSE 50 ETF and Huatai-PB CSI 300 ETF, which saw a decrease in their holdings [3]

Company Overview - Haixing Co., Ltd. was established on January 8, 1998, and listed on the Shanghai Stock Exchange on August 9, 2019. The company is headquartered in Nantong, Jiangsu Province and is a leading enterprise in the domestic aluminum electrolytic capacitor electrode foil industry, possessing strong R&D capabilities and scale advantages [1] Financial Performance - As of Q3 2025, Haixing's operating revenue was 1.711 billion yuan, ranking 25th out of 31 in the industry, significantly lower than the industry leader, China Aluminum, with 176.516 billion yuan, and the second place, Innovation New Materials, with 58.716 billion yuan. The industry average revenue was 16.562 billion yuan, and the median was 5.83 billion yuan [2] - The net profit for the same period was 147 million yuan, ranking 16th in the industry, again far behind China Aluminum's 17.296 billion yuan and Yun Aluminum's 5.22 billion yuan. The net profit was in line with the industry median but below the average of 1.346 billion yuan [2] Financial Ratios - As of Q3 2025, Haixing's debt-to-asset ratio was 31.51%, an increase from 20.22% year-on-year, but still below the industry average of 46.20%, indicating good solvency and relatively low financial risk. The gross profit margin for the same period was 21.26%, slightly up from 21.02% year-on-year and significantly higher than the industry average of 10.69%, reflecting strong profitability [3] Executive Compensation - The chairman, Zhou Xiaobing, received a salary of 800,000 yuan in 2024, an increase of 115,200 yuan from 684,800 yuan in 2023. The general manager, Sun Xinming, earned 762,100 yuan in 2024, up by 110,100 yuan from 652,000 yuan in 2023 [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 14.57% to 14,900, while the average number of circulating A-shares held per shareholder decreased by 11.73% to 16,200. Notably, several funds exited the top ten circulating shareholders list [5]

Core Viewpoint - Yiqiu Resources is a leading global producer of aluminum alloy ingots (recycled aluminum) with a complete recycling aluminum industry chain, established in 2001 and listed in 2012 [1] Group 1: Business Performance - In Q3 2025, Yiqiu Resources reported revenue of 5.595 billion, ranking 17th among 31 companies in the industry, while the top company, China Aluminum, achieved revenue of 176.516 billion [2] - The net profit for the same period was 97.5154 million, placing the company 19th in the industry, with the leading company, China Aluminum, reporting a net profit of 17.296 billion [2] Group 2: Financial Ratios - As of Q3 2025, Yiqiu Resources had a debt-to-asset ratio of 27.11%, down from 29.76% year-on-year and below the industry average of 46.20%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 6.26%, an increase from 5.83% year-on-year but still below the industry average of 10.69%, suggesting room for improvement in profitability [3] Group 3: Executive Compensation - Chairman Huang Chongsheng's compensation for 2024 was 1.3999 million, a decrease of 110,200 from 2023, while General Manager Liu Kaimin's compensation increased to 842,500, up by 56,000 from the previous year [4] Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 12.27% to 80,100, while the average number of circulating A-shares held per shareholder decreased by 10.93% to 27,500 [5]

Core Viewpoint - Yun Aluminum Co., Ltd. is a leading green aluminum supplier in China, with a complete industrial chain that includes bauxite mining, alumina production, aluminum smelting, and aluminum processing [1] Group 1: Business Performance - In Q3 2025, Yun Aluminum achieved a revenue of 44.072 billion yuan, ranking third among 31 companies in the industry [2] - The net profit for the same period was 5.22 billion yuan, placing the company second in the industry [2] - The company reported a year-on-year revenue growth of 12.47% and a net profit growth of 15.14% for the first three quarters of 2025 [5][6] Group 2: Financial Ratios - As of Q3 2025, Yun Aluminum's debt-to-asset ratio was 23.21%, lower than the industry average of 46.20% [3] - The gross profit margin for Q3 2025 was 15.39%, exceeding the industry average of 10.69% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 8.51% to 79,100 [5] - The average number of circulating A-shares held per shareholder increased by 9.30% to 43,900 [5] Group 4: Management and Compensation - The chairman, Ji Shujun, received a salary of 629,400 yuan in 2023 [4] - The company is controlled by China Aluminum Corporation, with the actual controller being the State-owned Assets Supervision and Administration Commission of the State Council [4] Group 5: Future Outlook - The company plans to invest 500 million yuan for a 16.70% stake in Yunnan Aluminum Foil Company, extending its industrial chain [5] - Earnings per share (EPS) are projected to be 1.87, 2.13, and 2.38 yuan for 2025 to 2027, with corresponding price-to-earnings (PE) ratios of 13, 11, and 10 times [5]

Core Viewpoint - Tianshan Aluminum is a leading integrated aluminum manufacturer in China, with strong cost control capabilities and a complete aluminum industry chain, achieving significant revenue and profit growth in recent quarters [1][2][5]. Financial Performance - In Q3 2025, Tianshan Aluminum achieved a revenue of 22.321 billion yuan, ranking 7th in the industry, surpassing the industry average of 16.562 billion yuan [2]. - The net profit for the same period was 3.341 billion yuan, ranking 5th in the industry, also above the industry average of 1.346 billion yuan [2]. Profitability and Debt Ratios - As of Q3 2025, Tianshan Aluminum's debt-to-asset ratio was 48.10%, down from 54.93% year-on-year, which is higher than the industry average of 46.20% [3]. - The gross profit margin for Q3 2025 was 22.42%, slightly up from 22.06% year-on-year, significantly higher than the industry average of 10.69% [3]. Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 23.85% to 37,800, while the average number of shares held per shareholder increased by 31.32% to 109,200 [5]. - Hong Kong Central Clearing Limited was the seventh largest shareholder, increasing its holdings by 18.5447 million shares [5]. Business Highlights - The increase in aluminum prices has positively impacted the company's performance, benefiting from a complete vertical integration of the aluminum industry chain [5][6]. - The electrolytic aluminum capacity is set to increase from 1.2 million tons to 1.4 million tons, with projects progressing smoothly [5][6]. - The company has secured upstream resources in Guinea, Guangxi, and Indonesia, ensuring a stable and low-cost supply of raw materials [5]. Future Profit Projections - Tianshan Aluminum's projected net profits for 2025, 2026, and 2027 are 4.818 billion, 6.868 billion, and 7.457 billion yuan, respectively [5]. - Analysts maintain a "buy" rating based on the expected growth driven by rising aluminum prices and ongoing project developments [6].

Core Viewpoint - Shenhuo Co., Ltd. is a major player in the aluminum and coal production industry in China, with a complete industrial chain from coal to electricity, alumina, electrolytic aluminum, and deep processing of aluminum [1] Group 1: Business Performance - In Q3 2025, Shenhuo's revenue reached 31.005 billion yuan, ranking 4th in the industry, significantly above the industry average of 16.562 billion yuan and median of 5.83 billion yuan [2] - The main business composition includes electrolytic aluminum revenue of 14.177 billion yuan, accounting for 69.40%, and coal revenue of 2.882 billion yuan, accounting for 14.11% [2] - The net profit for the same period was 4.226 billion yuan, also ranking 4th in the industry, exceeding the industry average of 1.346 billion yuan and median of 0.147 billion yuan [2] Group 2: Financial Ratios - As of Q3 2025, Shenhuo's debt-to-asset ratio was 51.06%, down from 53.38% year-on-year but still above the industry average of 46.20% [3] - The gross profit margin for the same period was 23.18%, slightly down from 24.54% year-on-year, but significantly higher than the industry average of 10.69% [3] Group 3: Management and Shareholder Structure - The chairman, Li Hongwei, has not changed his salary and has extensive experience in financial roles within the company [4] - As of September 30, 2025, the number of A-share shareholders decreased by 2.23% to 69,500, while the average number of circulating A-shares held per account increased by 2.28% to 32,300 [5] Group 4: Future Outlook and Analyst Ratings - Analysts from Kaiyuan Securities expect strong profitability in the electrolytic aluminum business and a recovery in coal profitability, maintaining a "buy" rating and adjusting profit forecasts for 2025-2027 [5] - Guotou Securities projects revenues of 41.34 billion, 42.98 billion, and 43.73 billion yuan for 2025-2027, with net profits of 5.11 billion, 6.05 billion, and 6.37 billion yuan, maintaining a "buy - A" rating [6]

Core Insights - Shunbo Alloy is a leading company in the domestic recycled aluminum alloy sector, focusing on the production and sales of recycled aluminum alloy ingots and liquid products, with a full industry chain advantage [1] Financial Performance - For Q3 2025, Shunbo Alloy reported revenue of 11.266 billion yuan, ranking 10th in the industry, significantly lower than China Aluminum's 176.516 billion yuan and Innovation New Material's 58.716 billion yuan, and below the industry average of 16.562 billion yuan [2] - The main business composition includes aluminum alloy ingots (liquid) at 6.648 billion yuan, accounting for 93.30%, and rolled aluminum products at 376 million yuan, accounting for 5.28% [2] - The net profit for the same period was 244 million yuan, ranking 15th in the industry, again far below the top performers [2] Financial Ratios - As of Q3 2025, Shunbo Alloy's debt-to-asset ratio was 77.96%, higher than the previous year's 73.31% and above the industry average of 46.20% [3] - The gross profit margin was reported at 3.05%, slightly down from 3.17% year-on-year and significantly below the industry average of 10.69% [3] Executive Compensation - The chairman, Wang Zhenjian, received a salary of 465,000 yuan in 2024, a decrease of 3,000 yuan from 2023 [4] - The president, Wang Zengchao, earned 439,000 yuan in 2024, also down by 3,000 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 16.59% to 28,000, while the average number of circulating A-shares held per account increased by 19.89% to 14,900 [5] - Among the top ten circulating shareholders, new entrants include Everbright Prudential Credit Enhancement Bond A and Ping An Dingxin Bond A [5]