登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600219 证券简称：南山铝业 公告编号：2025-077 山东南山铝业股份有限公司 关于以集中竞价交易方式回购公司股份比例达1%的进展公告 ■ 一、回购股份的基本情况 山东南山铝业股份有限公司（以下简称"公司"）分别于2024年12月11日、2024年12月27日召开了第十一 届董事会第十五次会议、第十一届监事会第十一次会议和2024年第三次临时股东大会，审议通过了《关 于以集中竞价交易方式回购公司股份方案的议案》，同意公司使用自有资金以集中竞价交易方式回购公 司部分社会公众股份，用于注销并减少公司注册资本。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 本次回购股份的资金总额不低于人民币3亿元（含）且不超过人民币6亿元（含），回购股份价格不超过 人民币6.24元/股，回购数量不低于4,807.69万股（含）且不超过9,615.38万股（含），具体回购数量及 金额以回购结束时实际交易情况为准。回购期限为自公司股东大会审议通过回购方案之日起不超过1 ...

股票代码：601600 股票简称：中国铝业 公告编号：临2025-075 中国铝业股份有限公司 关于2021年限制性股票激励计划预留授予部分第二个解除限售期解锁暨上市公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 重要内容提示： ● 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为7,742,752股。 本次股票上市流通总数为7,742,752股。 ● 本次股票上市流通日期为2025年12月23日。 中国铝业股份有限公司（以下简称"公司"）于2025年11月24日、11月25日分别召开第九届董事会薪酬委 员会第一次会议、第九届董事会第七次会议，审议通过了《关于公司2021年限制性股票激励计划预留授 予部分第二个解除限售期的解除限售条件已成就的议案》。根据《上市公司股权激励管理办法》（以下 简称"《管理办法》"）及《中国铝业股份有限公司2021年限制性股票激励计划》（以下简称"《激励计 划》"或"本激励计划"）的相关规定，董事会认为公司2021年限制性股票激励计划预留授予部分第二个 解除限售期解除限售条件 ...

证券日报网讯12月15日晚间，南山铝业（600219）发布公告称，截至2025年12月15日，公司通过集中竞 价交易方式已累计回购公司股份116136789股，占公司总股本的比例约为1.00%。 ...

期货交易咨询业务资格：证监许可【2011】1285号 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 华联期货铝年报 供需紧平衡，铝价重心有望继续上移 20251215 黄忠夏 0769-22119245 从业资格号：F0285615 交易咨询号：Z0010771 审核：姜世东，从业资格号:F03126164，交易咨询号：Z0020059 2 国际形势 3 国内形势 4 宏观政策 5 基本面 6 技术面 1 年度观点及策略 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 年度观点及策略 请务必阅读正文后的免责声明。本报告的信息均来自已公开信息，关于信息的准确性与完整性，建议投资者谨慎判断，据此入市，风险自担。 u 宏观：展望2026年，预计中美关系或维持"斗而不破"，美国、欧洲进入降息周期，美元体系长期根基松动，人民币国际化迎来战 ...

1. Report Industry Investment Rating No relevant content provided. 2. Report's Core View - The report provides investment suggestions for the aluminum industry, recommending light - position short - term long trades on dips for alumina, Shanghai aluminum, and cast aluminum, while emphasizing the need to control trading rhythm and risk [2]. 3. Summary by Related Catalogs 3.1 Futures Market - **Prices and Spreads**: The closing price of the Shanghai aluminum main contract was 21,920 yuan/ton, down 250 yuan; the closing price of the alumina futures main contract was 2,537 yuan/ton, up 67 yuan. The LME electrolytic aluminum three - month quote was 2,875 dollars/ton, down 20 dollars. The spread between the main and second - consecutive contracts for Shanghai aluminum was - 65 yuan/ton, up 30 yuan; for alumina, it was - 15 yuan/ton, up 56 yuan [2]. - **Positions and Inventories**: The main contract positions of Shanghai aluminum decreased by 20,430 hands to 294,373 hands; for alumina, it decreased by 35,592 hands to 205,975 hands. The LME aluminum inventory increased by 900 tons to 519,650 tons; the Shanghai aluminum inventory on the SHFE decreased by 3,635 tons to 119,995 tons [2]. 3.2 Spot Market - **Aluminum Prices**: The price of Shanghai Non - ferrous A00 aluminum was 21,710 yuan/ton, down 340 yuan; the Yangtze River Non - ferrous Market AOO aluminum was 22,070 yuan/ton, down 380 yuan. The average price of ADC12 aluminum alloy ingots nationwide was 21,600 yuan/ton, down 150 yuan [2]. - **Basis and Premiums**: The basis of cast aluminum alloy was 580 yuan/ton, down 130 yuan; the basis of electrolytic aluminum was - 210 yuan/ton, down 90 yuan. The Shanghai Wumao aluminum premium was - 50 yuan/ton, up 10 yuan; the LME aluminum premium was - 32.55 dollars/ton, down 5.87 dollars [2]. 3.3 Upstream Situation - **Alumina**: The alumina production in November was 786.50 million tons, down 13.40 million tons; the demand for alumina (for electrolytic aluminum) was 730.23 million tons, up 25.92 million tons. The capacity utilization rate of alumina was 86.51%, down 0.45%; the supply - demand balance was 37.98 million tons, down 8.87 million tons [2]. - **Aluminum Scrap**: The average price of crushed raw aluminum in Foshan metal scrap was 17,250 yuan/ton, up 100 yuan; in Shandong metal scrap, it was 16,800 yuan/ton, up 50 yuan. China's imports of aluminum scrap increased by 2,945.61 tons to 158,360.01 tons, and exports decreased by 36.08 tons to 32.46 tons [2]. 3.4 Industry Situation - **Electrolytic Aluminum**: The import volume of primary aluminum increased by 4,462 tons to 248,261.37 tons, and the export volume decreased by 4,396.36 tons to 24,573.56 tons. The total production capacity of electrolytic aluminum increased by 1 million tons to 4,524.20 million tons, and the operating rate was 98.21%, down 0.03% [2]. - **Aluminum Products**: The output of aluminum products was 569.40 million tons, down 20.60 million tons; the export volume of unwrought aluminum and aluminum products increased by 7 million tons to 57 million tons. The output of recycled aluminum alloy ingots was 60.83 million tons, down 4.82 million tons; the export volume of aluminum alloy increased by 0.74 million tons to 3.09 million tons [2]. 3.5 Downstream and Application - The national real estate climate index was 91.90, down 0.52. The automobile production was 351.90 million vehicles, up 24 million vehicles [2]. 3.6 Option Situation - The 20 - day historical volatility of Shanghai aluminum was 13.76%, up 0.53%; the 40 - day historical volatility was 12.25%, up 0.43%. The implied volatility of the Shanghai aluminum main at - the - money IV was 13.69%, up 0.0257; the call - put ratio was 1.72, up 0.0321 [2]. 3.7 Industry News - China's November financial data showed that RMB loans increased by 15.36 trillion yuan in the first 11 months, and the cumulative increase in social financing scale was 33.39 trillion yuan, exceeding last year's total. At the end of November, M2 increased by 8% year - on - year, M1 by 4.9%, the stock of social financing by 8.5%, and the balance of RMB loans by 6.4% [2]. - Multiple Fed officials spoke. Philadelphia Fed President Patrick Harker said inflation was no longer the biggest enemy, and the risk of employment decline was more worrying. Chicago Fed President Austan Goolsbee said he voted against a rate cut on Wednesday, waiting for more data, and expected more rate cuts next year than the median forecast [2]. - The National Development and Reform Work Conference emphasized strengthening economic monitoring and early - warning analysis, promoting investment to stop falling and stabilize, and boosting consumption with practical and new measures [2]. - At the 2025 - 2026 China Economic Annual Conference, Han Wenxiu said that China's main economic indicators were better than expected, and the economic aggregate was expected to reach about 140 trillion yuan this year. In 2026, efforts would be made to promote the synchronous growth of residents' income and the economy [2]. 3.8 Alumina View Summary - The alumina main contract was oscillating strongly, with decreasing positions, spot premium, and weakening basis. The supply of bauxite was expected to gradually increase, and the price of domestic bauxite might decline slightly. The domestic alumina production capacity and operating rate might decline slightly, while the demand from electrolytic aluminum plants remained stable. It was recommended to take light - position short - term long trades on dips [2]. 3.9 Electrolytic Aluminum View Summary - The Shanghai aluminum main contract was oscillating weakly, with decreasing positions, spot discount, and weakening basis. The profit of aluminum plants was good, and the domestic electrolytic aluminum production capacity continued to grow slightly. Although it was the traditional off - season, the demand for downstream aluminum products remained resilient. The option market sentiment was bullish, and it was recommended to take light - position short - term long trades on dips [2]. 3.10 Cast Aluminum View Summary - The cast aluminum main contract first fell and then rose, with increasing positions, spot premium, and weakening basis. The supply of scrap aluminum was tight, and the production of cast aluminum might decline. The demand from downstream enterprises was cautious. It was recommended to take light - position short - term long trades on dips [2].

财经频道更多独家策划、专家专栏，免费查阅>> 责任编辑：安东 格隆汇12月15日丨南山铝业(600219.SH)公布，截止2025年12月15日，公司通过集中竞价交易方式已累 计回购公司股份1.16亿股，占公司总股本的比例约为1.00%，回购成交的最高价为5.29元/股，最低价为 3.24元/股，已支付的资金总额为人民币4.86亿元（不含交易费用）。 ...

智通财经APP讯，南山铝业(600219.SH)公告，公司截止2025年12月15日已累计回购公司股份1.16亿股， 占公司总股本的比例约为1.00%，已支付的资金总额为4.86亿元(不含交易费用)。 ...

格隆汇12月15日丨南山铝业(600219.SH)公布，截止2025年12月15日，公司通过集中竞价交易方式已累 计回购公司股份1.16亿股，占公司总股本的比例约为1.00%，回购成交的最高价为5.29元/股，最低价为 3.24元/股，已支付的资金总额为人民币4.86亿元（不含交易费用）。 ...

2025-12-15 【产业服务总部 | 有色金属团队】 研究员：汪国栋 执业编号：F03101701 投资咨询号：Z0021167 咨询电话：027-65777106 铝产业链周报 01 周度观点 长江期货股份有限公司交易咨询业务资格：鄂证监期货字[2014]1号 ◆ 基本面分析 山西铝土矿价格微降，河南铝土矿价格暂稳，几内亚散货矿主流成交价格周度环比持稳于70.5美元/干吨，矿价预计将承压下行。 氧化铝运行产能周度环比上升10万吨至9590万吨，全国氧化铝库存周度环比增加10.2万吨至458.5万吨。11月中旬至12月初因技 改、技改试车检修的企业复产完成，同时部分沿海氧化铝企业临时小修，氧化铝行业运行产能整体较为平稳。电解铝运行产能周度 环比增加2万吨至4446.4万吨。减复产能方面，山西朔州能源对部分电解槽进行停槽技改升级，涉及产能4万吨左右；新疆个别铝 厂因环保管控有所减产。新投产能方面，天山铝业20万吨周内通电投产、2026年全面达产，扎铝35万吨将建成投产、2026年全 面达产。需求方面，国内铝下游加工龙头企业开工率周度环比下降0.1%至61.8%。整体需求逐步进入淡季，叠加铝价高位大幅波 动抑 ...

Report Industry Investment Ratings - **Macro Finance**: Index futures are expected to be bullish in the medium to long term, with a strategy of buying on dips; Treasury bonds are expected to trade sideways [1]. - **Black Building Materials**: Coking coal is suitable for short - term trading; rebar for range trading; glass for shorting on rallies [1]. - **Non - ferrous Metals**: Copper is recommended to reduce long positions on rallies and replenish on lows; aluminum for increased observation; nickel for waiting or shorting on rallies; tin for range trading; gold for range trading; silver for holding long positions and cautious new positions; lithium carbonate for strong - side oscillation [1]. - **Energy and Chemicals**: PVC for range trading; caustic soda for temporary waiting; soda ash for temporary waiting; styrene for range trading; rubber for range trading; urea for range trading; methanol for range trading; polyolefins for weak - side oscillation [1]. - **Cotton Textile Industry Chain**: Cotton and cotton yarn for strong - side oscillation; PTA for upward oscillation; apples for strong - side oscillation; red dates for weak - side oscillation [1]. - **Agriculture and Animal Husbandry**: Pigs for a strategy of shorting on rallies for near - term contracts and cautious bullishness for far - term contracts; eggs for limited upside; corn for cautious chasing of highs in the short term and hedging on rallies for grain holders; soybean meal for range operation; oils for gradually taking profit on previously established short positions [1]. Core Views - The market is influenced by a variety of factors, including macro - policies, supply - demand relationships, and international situations. Different sectors and varieties have different trends and investment strategies due to their unique fundamentals [1][6][8]. - Some commodities are facing supply - demand imbalances, such as oversupply in soda ash and strong supply pressure in the pig market, while others benefit from factors like improving demand or supply disruptions, like the potential support for tin prices from supply tightness [18][34]. Summary by Categories Macro Finance - **Index Futures**: Medium - to long - term bullish, with short - term possible sideways movement. Influenced by factors such as potential Fed chair appointments, Chinese economic data, and policy responses to the central economic work conference [6]. - **Treasury Bonds**: Expected to trade sideways. Driven by factors like central bank policies, regulatory changes, and the need for year - end configuration [6]. Black Building Materials - **Coking Coal**: Short - term trading is recommended. The market is in a game between strong bearish realities and weak marginal supports [8]. - **Rebar**: Range trading is advised. With low valuations and weak drivers, prices may oscillate weakly [8]. - **Glass**: Shorting on rallies is suggested. High inventory, weak demand, and potential supply increases lead to a bearish outlook [10]. Non - ferrous Metals - **Copper**: High - level oscillation is expected. Macro - easing expectations and long - term supply shortages support prices, but short - term over - rise has curbed consumption and increased adjustment risks [11][12]. - **Aluminum**: A rebound is possible, but increased observation is recommended. Factors include changes in bauxite prices, alumina and electrolytic aluminum production capacities, and demand in the off - season [13]. - **Nickel**: Sideways movement. Long - term supply surplus exists, but new RKAB policies bring uncertainties [16]. - **Tin**: Range trading is recommended. Supply is tight, and downstream consumption is weak, but prices are expected to be supported [18]. - **Silver**: Sideways movement. Fed policies, economic data, and industrial demand support prices, with a strategy of holding long positions and cautious new positions [18]. - **Gold**: Range trading is advised. Fed policies and economic uncertainties lead to a bullish medium - term outlook [20]. - **Lithium Carbonate**: Strong - side oscillation. Supply is affected by mine situations, and demand is strong, with attention needed on mine developments [20]. Energy and Chemicals - **PVC**: Low - level oscillation. Weak domestic demand, high inventory, and uncertain export growth lead to a weak outlook, but low valuations and potential policy supports exist [22]. - **Caustic Soda**: Cautiously bearish, with temporary waiting. High inventory, weak demand from downstream alumina, and potential production changes are factors [23]. - **Styrene**: Sideways movement. Overseas blending logic has limited impact on the weak fundamentals, with attention on price changes [24]. - **Rubber**: Sideways movement. Uncertain supply - demand, high inventory, and weak downstream demand lead to a range - bound market [24][25]. - **Urea**: Sideways movement. Supply increases, and demand is a mix of weakening agricultural demand and strengthening industrial demand, with inventory changes affecting prices [26][27]. - **Methanol**: Sideways movement. Supply is stable, demand from methanol - to - olefins is mixed, and traditional demand is weak, with inventory decreases [27]. - **Polyolefins**: Weak - side oscillation. Supply is strong, demand is weak, especially for PE agricultural film, but inventory reduction provides some support [29]. - **Soda Ash**: Temporary waiting. Supply surplus is the main pressure, but cost support and potential supply contractions are factors [31]. Cotton Textile Industry Chain - **Cotton and Cotton Yarn**: Strong - side oscillation. Global supply - demand is relatively loose, but domestic sales and yarn prices support the market [31]. - **PTA**: Upward oscillation. Geopolitical factors drive up oil prices, and PTA supply - demand is in a de - stocking phase [31][33]. - **Apples**: Strong - side oscillation. Market trading is general, with prices in different regions showing certain ranges [33]. - **Red Dates**: Weak - side oscillation. Acquisition progress is in the late stage, and enterprise acquisition enthusiasm is general [33]. Agriculture and Animal Husbandry - **Pigs**: Sideways bottom - building. Short - term supply pressure exists, and long - term prices are affected by capacity reduction and cost changes, with different strategies for near - and far - term contracts [34]. - **Eggs**: Limited upside. Short - term spot and futures are range - bound, medium - term supply - demand improves marginally, and long - term supply pressure remains [35][36][37]. - **Corn**: Rebound. Short - term selling pressure needs to be digested, and long - term demand gradually recovers, but supply - demand is relatively loose [37]. - **Soybean Meal**: Range oscillation. Near - term contracts are strong due to supply delays and de - stocking, while far - term contracts are weak due to South American production expectations [38]. - **Oils**: Soybean and palm oils for weak - side oscillation, rapeseed oil for limited rebound. Different supply - demand situations and external factors lead to different trends [38][42].