证券代码：600888 证券简称：新疆众和 编号：临 2025-066 号 债券代码：110094 债券简称：众和转债 新疆众和股份有限公司 关于 2025 年度"提质增效重回报"行动方案 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。 为深入贯彻党的二十大和中央金融工作会议精神，落实国务院《关于进一步 提高上市公司质量的意见》要求，积极响应《关于开展沪市公司"提质增效重回 报"专项行动的倡议》，推动新疆众和股份有限公司（以下简称"公司"）持续优 化经营、规范治理和积极回报投资者，增强投资者信心，经公司第十届董事会第 三次会议审议通过，公司制定了 2025 年度"提质增效重回报"行动方案。具体 内容如下： 一、立足循环经济产业链，做精做强主营业务 公司主要从事铝电子新材料和铝及合金制品的研发、生产和销售，主要产品 包括高纯铝、电子铝箔、电极箔、铝制品及合金产品，产品广泛应用于工业控制、 电子设备、家用电器、汽车制造、电线电缆、交通运输等领域。经过多年发展， 公司形成"能源—一次高纯铝—高纯铝/合金产品—电子铝箔—电极箔"电子新 ...

风险提示：投资有风险，入市需谨慎。 8月20日主力资金净流出793.58万元，占流通市值的0.36%。近五日主力资金累计净流出2848.18万元， 占流通市值的1.31%。 截至2025年8月20日15时，华锋股份最新股价为12.51元，较前一交易日上涨0.24%。当日开盘价为12.48 元，最高价12.51元，最低价12.38元，成交量为55581手，成交额0.69亿元。 华锋股份主营业务包括新能源汽车动力系统和电极箔两大板块。公司全资子公司高要华锋拟与关联方华 赢投资共同投资设立新疆华锋新材料科技有限公司，注册资本2000万元，其中高要华锋出资1200万元， 持股60%。合资公司将分阶段在新疆建设年产400万平方米的高压化成箔生产线，项目总投资2.1亿元。 ...

Group 1: Container Manufacturing and Export - Container manufacturing companies are shifting from price advantages to technological advantages, increasing the "new" content in container exports [1] - Suzhou Zhongnan Intelligent Equipment Co., Ltd. has introduced intelligent technology and high-end manufacturing processes, resulting in a product value of nearly 15 million yuan in container exports in the first half of the year [1] - Taicang CIMC Refrigerated Logistics Equipment Co., Ltd. reported a 56% year-on-year increase in refrigerated container exports, totaling 22,000 TEUs in the first half of the year [1] Group 2: Sports Equipment Export - Changzhou enterprises are integrating artificial intelligence with sports products, exemplified by the export of 400 robotic tennis ball machines by Changzhou Xinzhi Technology Co., Ltd. [2] - The sports equipment export value from Changzhou reached 240 million yuan in the first half of the year, reflecting a 6.3% year-on-year growth [2] Group 3: High-tech Products Export - Jiangsu Province exported high-tech products worth 598.53 billion yuan in the first half of the year, with a year-on-year growth of 5.6% [4] - Nantong Haixing Electronics Co., Ltd. achieved an export value of over 50 million yuan for electrode foils, marking a 67.23% increase year-on-year [4] - Suzhou Tianfu Optical Communication has a total import and export value of 2.644 billion yuan in the first half of the year, with a significant year-on-year growth of 101.6% [4]

Group 1: Container Manufacturing and Export - The export products of Jiangsu's container manufacturing industry are increasingly incorporating new technologies and features, shifting from price advantages to technological advantages [1] - Suzhou Zhongnan Intelligent Equipment Co., Ltd. has introduced intelligent technology and high-end manufacturing processes, resulting in a product value of nearly 15 million yuan in container exports in the first half of the year [1] - Taicang CIMC Refrigerated Logistics Equipment Co., Ltd. reported a 56% year-on-year increase in refrigerated container exports, totaling 22,000 TEUs in the first half of the year [1] Group 2: Sports Equipment Export - Changzhou's enterprises are integrating artificial intelligence with sports products, exemplified by the export of 400 robotic tennis ball machines by Changzhou Xinzhi Technology Co., Ltd. [2] - The company’s new product features an AI dynamic interaction system and multi-modal control, enhancing the training experience for consumers [2] - In the first half of the year, Changzhou's sports equipment exports reached 240 million yuan, a year-on-year increase of 6.3% [2] Group 3: Battery and High-tech Products Export - Meimiao Environmental Technology Co., Ltd. has exported 512 ball machines, while Jiangsu Weilan New Energy Battery Co., Ltd. reported a twofold increase in export value in the first half of the year [3] - The solid-state lithium batteries produced by Jiangsu Weilan offer higher safety and energy density compared to traditional batteries [3] - The province's high-tech product exports reached 598.53 billion yuan in the first half of the year, with a year-on-year growth of 5.6% [4] Group 4: Electronic Materials and Solutions - Nantong Haixing Electronics Co., Ltd. achieved a 67.23% year-on-year increase in export value, surpassing 50 million yuan, with a market share of over 7% in the global electrode foil market [4] - The company focuses on technology research and development, holding over 260 patents [4] - Suzhou Tianfu Optical Communication has increased its production efficiency through a group processing trade supervision model, achieving a total import and export value of 2.644 billion yuan, a year-on-year increase of 101.6% [4]

Core Insights - The main business of the company includes research, production, sales, and technical services of electric control and drive systems for new energy vehicles, as well as the development and production of electrode foils [2] - The revenue structure shows that the electric control and drive systems for new energy vehicles account for the highest proportion at 52.26%, followed closely by electrode foils at 47.73% [2] - The company achieved a net profit attributable to shareholders of 0.85 billion yuan in the latest complete fiscal year 2024, representing a cumulative growth of 225.46% since its listing in 2016 [2] - The company has experienced three years of losses since its listing, with five years of profit, indicating a profit rate of 55.56% [2] Revenue Analysis - In 2020, the company reported a revenue of 4.40 billion yuan, which increased to 10.31 billion yuan by 2024 [3] - The revenue growth rate reached 43.3% in 2024, despite fluctuations in the intervening years [3] Profit Analysis - The company recorded a net profit attributable to shareholders of -3.05 billion yuan in 2020, recovering to 0.85 billion yuan in 2024 [4] - This indicates significant volatility in profitability, transitioning from deep losses to profitability over the years [4] Market Capitalization - Since its listing, the company's market capitalization has increased by 2.50 times [6] - The peak market capitalization reached 67.65 billion yuan on May 22, 2018, with a corresponding stock price of 49.34 yuan [6] - As of July 25, the stock price was 12.17 yuan, with a market capitalization of 25.00 billion yuan, reflecting a decrease of 42.65 billion yuan from its peak, equating to a 63.05% market value evaporation [6]

Company Overview - Guangdong Huafeng New Energy Technology Co., Ltd. maintains a long-term credit rating of A- with a stable outlook for both the company and its convertible bonds [1][3] - The company primarily engages in the research, production, and sales of electric control and drive systems for new energy vehicles, as well as the development and production of electrode foils [13] Financial Performance - In 2024, the company reported a significant increase in operating revenue, reaching 10.31 billion yuan, with a profit of 0.97 billion yuan [13][29] - The company’s cash assets increased from 2.40 billion yuan in 2023 to 3.54 billion yuan in 2024, indicating improved liquidity [11] - The company’s total assets grew from 17.20 billion yuan in 2023 to 20.63 billion yuan in 2024, reflecting a positive trend in asset accumulation [11] Business Segments - The new energy vehicle drive system segment saw substantial growth, driven by increased orders from major clients such as Foton Motor, contributing to a revenue increase [29] - The electrode foil business also experienced growth due to a recovery in demand from the electronic components industry, with a notable increase in sales volume and revenue [29] Industry Analysis - The electronic aluminum foil industry is benefiting from a recovery in the consumer electronics sector and the growth of the new energy vehicle market, which is expected to continue driving demand [18][21] - In 2024, China's new energy vehicle sales reached 12.87 million units, a year-on-year increase of 35.5%, indicating a strong market for related components [22] - The aluminum oxide industry is also experiencing growth, with production expected to rise, further supporting the demand for electronic aluminum foils [18] Competitive Position - The company holds over 50 technology patents in the electrode foil sector and has established itself as a supplier to well-known aluminum electrolytic capacitor manufacturers [6][24] - Despite its competitive advantages, the company faces challenges such as high dependency on a single customer for its new energy vehicle drive systems, which affects its pricing power [5][8] Future Outlook - The company’s rating outlook remains stable, with potential for upgrades if asset quality improves significantly or if there are major technological breakthroughs in its new energy vehicle systems [6] - The ongoing expansion of the new energy vehicle market and the company's strategic initiatives in R&D are expected to enhance its market position and financial performance in the coming years [21][24]

Core Viewpoint - The 2024 Annual General Meeting of Hai Xing Co., Ltd. will address key proposals including the authorization for small-scale rapid financing and the shareholder return plan for the next three years [1][2]. Meeting Procedures - The meeting will ensure order and efficiency, allowing only authorized personnel to enter [1][2]. - Shareholders must sign in 30 minutes before the meeting and present necessary identification [2]. - Shareholders have the right to speak, inquire, and vote, with specific time limits for speeches [2][3]. - Voting will be conducted through a named ballot system, with each share granting one vote [3][4]. Financial Performance - In 2024, the company reported a revenue of 192,796.53 million yuan, a 7.68% increase from 2023 [21]. - Operating profit reached 18,236.88 million yuan, up 14.46% year-on-year [21]. - Net profit attributable to shareholders was 16,090.47 million yuan, reflecting a 17.63% increase [21][22]. - The net cash flow from operating activities decreased by 66.00% to 6,130.45 million yuan [21][22]. Business Strategy and Development - The company aims to enhance its production capacity and optimize product structure, focusing on emerging markets such as new energy and AI servers [8][14]. - Continuous investment in research and development is prioritized to drive high-quality growth and technological innovation [9][14]. - The company has established a national enterprise technology center to enhance its competitive edge in the industry [9]. Governance and Compliance - The board of directors has been actively involved in decision-making and governance, ensuring compliance with relevant laws and regulations [10][11]. - The supervisory board has conducted regular meetings to oversee the company's operations and financial management [16][17]. - The company has maintained a strong commitment to investor relations, ensuring timely and accurate information disclosure [13][19].