Core Viewpoint - Jiangsu Longda Superalloy Co., Ltd. has received an inquiry letter from the Shanghai Stock Exchange regarding its 2024 annual report, prompting the company to provide clarifications and corrections related to its financial disclosures and operational performance [1]. Financial Performance - The company reported significant revenue growth in the aerospace, gas turbine, and automotive turbocharger sectors, with increases of 46.64%, 67.34%, and 52.34% respectively [1]. - Other business revenues amounted to 85.724 million yuan [1]. - The company adjusted its financial data, ensuring that the corrections do not impact the overall financial status or cash flow for the years 2023 and 2024 [1]. Revenue Structure - The revenue structure for 2024 shows a notable increase in the aerospace sector, driven by demand from key domestic aerospace manufacturers [5]. - The gas turbine sector also experienced substantial growth, attributed to increased demand from domestic and international high-temperature alloy material service providers [9]. - The automotive turbocharger sector's revenue decreased from 16.08% in 2022 to 3.4% in 2024, indicating a shift in market dynamics [1]. Client Performance - The top five clients in the aerospace sector contributed significantly to revenue, with notable sales increases observed from key clients [6]. - The company’s sales to client one in the aerospace sector increased dramatically, reflecting a growing demand for domestic civil aviation engine materials [5]. - In the gas turbine sector, sales to client nine surged due to increased high-temperature alloy demand, highlighting the impact of domestic projects on revenue growth [9]. Sales Model Analysis - The company categorizes its sales into direct sales and dealer models, with direct sales representing end-user transactions and dealer sales involving trade merchants [3]. - Adjustments in sales models have been made to better reflect the operational realities and market conditions [3].

Core Viewpoint - The company announced an adjustment to its profit distribution plan for the year 2024, specifically modifying the cash dividend per share due to changes in the number of shares participating in the distribution [1][2]. Summary of Key Points Profit Distribution Plan - The company will distribute a total cash dividend of 245,307,582.00 yuan (including tax), which represents a dividend of 2.25 yuan per share (including tax) [1]. - The distribution will not include stock dividends, and if there are changes in the total share capital before the record date, the total distribution amount will remain unchanged while the per-share distribution will be adjusted accordingly [1]. Adjustment Details - As of April 1, 2025, the number of shares converted from "Yuguang Convertible Bonds" into company stock was 2,430 shares, leading to a change in the actual number of shares participating in the profit distribution [2]. - The adjusted cash dividend per share is set at 0.22500 yuan (including tax), calculated based on the unchanged total distribution amount [2]. - The calculation for the adjusted per-share distribution is based on the total cash dividend divided by the total number of shares, resulting in a per-share distribution of approximately 0.22500 yuan [2].

Group 1 - The company held its third independent director meeting on July 2, 2025, with all three independent directors present, confirming the legality and validity of the meeting procedures [1][2] - The meeting approved the proposal regarding the conditions for the second exercise period of stock options and the lifting of restrictions on the second lock-up period for restricted stock under the 2023 stock option and restricted stock incentive plan [1][2] - The independent directors agreed to submit the proposal to the board of directors for further review [1][2] Group 2 - The meeting also approved the proposal to cancel a portion of stock options under the 2023 stock option and restricted stock incentive plan due to reasons such as employee resignation, death, performance assessment results, and expiration without exercise [2] - The cancellation process was deemed legal and compliant with relevant regulations, ensuring no harm to the company or its shareholders [2] - This proposal will also be submitted to the board of directors for consideration [2]

Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng Law Firm confirms that Ningbo Bowei Alloy Materials Co., Ltd. has fulfilled the necessary conditions for the second exercise period of stock options and the lifting of restrictions on restricted stocks as part of its 2023 stock option and restricted stock incentive plan [1][2][3] Group 1: Implementation of the Incentive Plan - As of the date of the legal opinion, the implementation of the 2023 stock option and restricted stock incentive plan has been verified, including the approval of relevant proposals by the board and the independent opinions of independent directors [5][6][10] - The company granted a total of 44.385 million stock options to 535 eligible incentive objects and 2.4 million restricted stocks to 4 eligible incentive objects on May 18, 2023 [10][11] - The actual registration of stock options granted was 43.805 million, with 524 individuals registered, and the registration of restricted stocks was completed on July 5, 2023, with 240,000 shares granted to 4 individuals [11] Group 2: Conditions for Exercise and Lifting of Restrictions - The second exercise period for the stock options will end on June 29, 2025, and the conditions for exercising the options have been met, including no adverse audit opinions and compliance with performance targets [14][15] - The performance target for the second exercise period requires a net profit growth of at least 40% compared to 2022, which has been achieved [16][17] - The lifting of restrictions on the restricted stocks is contingent upon similar conditions, including no adverse audit opinions and meeting performance targets [17][18] Group 3: Cancellation of Stock Options - The company will cancel a total of 766,500 stock options due to various reasons, including the departure of 10 individuals and performance results of C and D for others [18][19] - The cancellation of stock options will not materially affect the company's financial status or the implementation of the incentive plan [19]

Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng Law Firm confirms the legitimacy and compliance of the shareholding increase by the controlling shareholder of Ningbo Bowei Alloy Materials Co., Ltd, Bowei Group, in accordance with relevant laws and regulations [1][6][8] Group 1: Shareholder Information - Bowei Group, the controlling shareholder, holds 81.0248% of shares, with a registered capital of 75.8 million yuan and established on November 15, 1989 [2][4] - As of the date of the legal opinion, Bowei Group's shareholding in Bowei Alloy was 225,568,681 shares, accounting for 28.23% of the total share capital [5][8] Group 2: Shareholding Increase Plan - Bowei Group plans to increase its shareholding through the Shanghai Stock Exchange, with a total investment of no less than 100 million yuan and no more than 200 million yuan within 12 months starting from December 26, 2024 [5][6] - During the increase period, Bowei Group acquired 5,745,500 shares, totaling an investment of 111.4967 million yuan [5][6] Group 3: Compliance and Disclosure - The legal opinion confirms that Bowei Group's shareholding increase complies with the Securities Law and the Management Measures for the Acquisition of Listed Companies [6][8] - Bowei Alloy has fulfilled its information disclosure obligations regarding the shareholding increase, with multiple announcements made between December 26, 2024, and June 4, 2025 [7][8] Group 4: Conclusion - The legal opinion concludes that Bowei Group possesses the legal qualifications to be a shareholder and that the shareholding increase does not violate any prohibitive regulations [6][8]

半年度报告—铅 渊生珠而崖不枯 | [T走ab势le_评R级ank：] | | | 铅：看涨 | | | | --- | --- | --- | --- | --- | --- | | 报告日期： | 2025 | 年 | 7 月 | 2 | 日 | [Table_Summary] ★供应端 有 原生端，品位下滑和外部风险持续，下半年海外铅矿产量或有扰 动；国内原生冶炼产能利用率维持高企，进口矿边际趋紧，后续 TC 有下跌压力，冶炼利润或同步承压，炼厂存在有限的减产可 能性。再生端，下半年替换需求或在旺季下有阶段性改善，但废 电瓶仍将在大部分时间里维持紧缺；再生厂经营环境有所恶化， 今年回收商惜售力度加强、囤货时间提前，而新增再生产能对传 统产能在地域辐射和竞价上的挤占，下半年再生炼厂开工率或维 持高波动，但总体依然承压，此外需关注再生产能压缩的可能性。 色 ★需求端 金 属 需求端，全年终端需求或维持正增速。两轮车和汽车均面临需求 前置释放的问题，消费较为依赖政策推动，锂代铅潜移默化影响 消费格局，储能领域消费增速维持强劲表现，出口需求在比价压 制和反倾销影响下或继续承压。上半年需求表现偏弱，主要是初 端需 ...

编号：2025-004 证券简称：立中集团证券代码：300428 债券简称：立中转债 债券代码：123212 立中四通轻合金集团股份有限公司 投资者关系活动记录表 答：公司深耕铝合金产业 40 年，拥有行业领先的材料研发水 平和丰富的材料技术储备。公司持续关注在机器人领域的产业布 局，铝合金作为机器人常用的轻量化材料，在机器人制造中发挥着 优异的轻量化效果，公司现有的高强高屈服免热处理压铸铝合金、 A356 铝合金、6 系和 7 系变形铝合金等产品可用于机器人零部件的 制造。其中，公司的高强高屈服免热处理压铸铝合金凭借优异的综 合性能表现获得关注，并且正在某欧洲机器人关节转轴上进行材料 验证，但目前还未实现营业收入，请注意投资风险。 3、公司产品在航空航天和飞机制造领域有哪些布局？ 答：在航空航天、飞机制造领域，公司研发和生产的铝基稀土 中间合金已应用于大飞机和航天部件铝合金的制造，生产的航空航 天级特种中间合金主要应用于航空航天的钛合金和高温合金领域， 已成功间接用于制造飞机发动机排气塞、发动机扇叶、喷嘴构件、 起落架、制动盘和紧固件等关键部位，并间接在国外某飞行汽车公 司的电动飞机（"空中出租车"）上得到 ...

Group 1: Market Overview - On July 2, the Hong Kong stock market saw a net inflow of 50.36 billion HKD from northbound trading, with 12.79 billion HKD from the Shanghai Stock Connect and 37.57 billion HKD from the Shenzhen Stock Connect [1] - The most bought stocks included the Tracker Fund of Hong Kong (02800), Innovent Biologics (01801), and Meituan-W (03690) [1] - The most sold stocks were Alibaba-W (09988), Tencent (00700), and Xiaomi Group-W (01810) [1] Group 2: Stock Performance - Alibaba-W had a buy amount of 11.91 billion HKD and a sell amount of 19.79 billion HKD, resulting in a net outflow of 7.88 billion HKD [2] - Xiaomi Group-W had a buy amount of 13.02 billion HKD and a sell amount of 15.25 billion HKD, leading to a net outflow of 2.22 billion HKD [2] - Tencent had a buy amount of 7.39 billion HKD and a sell amount of 11.10 billion HKD, resulting in a net outflow of 3.71 billion HKD [2] Group 3: Sector Insights - The Tracker Fund of Hong Kong (02800) received a net inflow of 16.74 billion HKD, with analysts suggesting that the current market conditions provide a favorable window for investment, particularly in the technology sector [5] - Innovent Biologics (01801) and 3SBio (01530) received net inflows of 6.51 billion HKD and 1.09 billion HKD, respectively, following new measures to support the development of innovative drugs [5] - Meituan-W (03690) saw a net inflow of 3.38 billion HKD, while Alibaba-W and Tencent experienced significant net outflows [6] Group 4: Company-Specific Developments - Chongqing Steel (01053) received a net inflow of 1.44 billion HKD amid rumors of production cuts in Tangshan, which could impact capacity utilization [6] - Pop Mart (09992) received a net inflow of 1.22 billion HKD after being recognized in Time magazine's list of the "100 Most Influential Companies" for 2025 [7] - Xiaomi's Yu7 model orders exceeded expectations, leading to an upward revision of shipment forecasts for 2025 to 2027 [8]

数据显示，7月2日上海铅锭现货价格报价16925.00元/吨，相较于期货主力价格（17175.00元/吨）贴水 250.00元/吨。 【市场资讯】 分析观点： （7月2日）全国铅价格一览表 南华期货（603093）研报：从基本面来看，供给端冶炼厂受较高铅价驱动，有一定复产意愿，社库逐步 累库进一步压制价格。原生铅方面，电解铅开工率相对再生铅保持强势，且副产品收益稳定。再生铅方 面，受废电瓶原料端供应较紧，冶炼厂信心不足，总体供给端方面偏紧。需求端，逼近旺季，生产备库 意愿加强，但价格上涨现货成交一般。短期内，受供需双弱与宏观影响，震荡为主。 规格 品牌/产地 报价 报价类型 交货地 交易商 品名:1#铅锭 ;牌号:Pb99.994 ; 上海华通 17025元/吨 市场价 上海 上海华通有色金属现货市场 品名:1#铅锭 ;牌号:Pb99.994 ; 广东南储 16975元/吨 市场价 广东省 广东南储有色现货市场 品名:1#铅锭 ;牌号:Pb99.994 ; 上海有色 16925元/吨 市场价 上海 上海物贸中心有色金属交易市场 期货市场上看，7月2日收盘，沪铅期货主力合约报17175.00元/吨，涨幅0.23 ...

有色商品日报 有色商品日报（2025 年 7 月 2 日） 一、研究观点 | 品 种 | | | | 点评 | | --- | --- | --- | --- | --- | | | 隔夜 LME 铜震荡走高，上涨 0.66%至 9943 | 美元/吨；SHFE 铜主力上涨 0.46%至 80390 | | | | | 元/吨；现货进口维系亏损态势。宏观方面，美国 6 月 | ISM 制造业 PMI 指数为 49，连 | | | | | 续四个月萎缩，预期为 48.8，前值为 48.5。美国 5 月 | JOLTS 职位空缺 776.9 万人，高 | | | | | 于预期的 730 万人，前值为 739.1 | 万人，该数值大幅超出市场预期，显示市场韧性。 | | | | | 美联储主席鲍威尔在一次会议上未排除 7 | 月降息可能，称若非关税已降息，关税料将 | | | | | 对通胀产生影响。关税方面，7 月 9 | 日关税重启最后期限，特朗普政府正在调整贸易 | | | | 铜 | | 谈判策略，从寻求全面互惠协议转向更有限的分阶段协议，以避免对部分国家重新征 | | | | | 收严厉关税。库存方面， ...