招商证券发布研究报告称，中国宏桥(01378)为全产业链布局的全球一体化电解铝企业，产能较高，有 成本和规模优势。公司股息率高，旗下宏创控股（002379）并购重组后铝业核心资产将在A股上市，叠 加西芒杜铁矿放量有望增厚利润，进一步打开估值空间。预计公司25/26/27年每股收益分别为 2.37/2.45/2.52元，对应PE为8.1/7.9/7.6，首次覆盖给予"强烈推荐"投资评级。 中国宏桥是全球领先的电解铝生产企业，国内外全产业链布局。公司主要从事铝产品的生产与销售，包 括电解铝、氧化铝以及铝加工产品，一体化水平较高。公司共有电解铝产能646万吨，氧化铝产能2100 万吨，其中1900万吨分布于国内，200万吨位于印尼，铝合金深加工产品产能97万吨。公司在几内亚投 资博凯矿业，铝土矿年产能可达6000万吨。 招商证券主要观点如下： 股息率较高，主要资产将在A股上市进一步打开估值空间。公司自2011年上市以来坚持分红，2024年每 股股息161港仙，较2023年增长156%，按照当年最后一个交易日的收盘价计算，股息率为13.69%，按 2025年7月28日股价计算为6.89%，高于国内其他主要铝企，在港股 ...

Core Viewpoint - The event focused on innovative practices in quality control for rebar installation in construction, showcasing advanced techniques and technologies to enhance construction quality and safety [2][3][6]. Group 1: Event Overview - The rebar installation quality control observation meeting was held at the Anta Smart Innovation Industrial Park (Phase I) project, organized by the Quanzhou Housing and Urban-Rural Development Bureau and undertaken by China State Construction Engineering Corporation [1][3]. - Over a thousand industry representatives and technical personnel attended the event, engaging in hands-on observation, technical exchanges, and experiential learning [3]. Group 2: Key Innovations and Technologies - The project emphasized "precision prevention" with strict standards for seismic node binding, improving rebar anchorage and bending accuracy [6]. - A display area showcased six modules, including structural sample displays for rebar binding and post-pouring support techniques, as well as waterproof technology analysis [6]. - The "Smart Construction Site" management platform integrates BIM, IoT, and AI technologies for comprehensive digital control of the construction process [6]. Group 3: Project Details - The total construction area of the Anta Smart Innovation Industrial Park (Phase I) is approximately 320,000 square meters, focusing on integrated development in creation, production, research, and supply [6]. - The project aims to establish a benchmark for low-carbon green smart parks, enhancing global competitiveness and injecting new momentum into local industrial upgrades [6][7]. - The project is currently in the main structure construction phase, with key milestones completed ahead of schedule, and is expected to be fully delivered by 2026 [7].