Workflow
空调箔
icon
Search documents
明泰铝业: 河南明泰铝业股份有限公司章程
Zheng Quan Zhi Xing· 2025-05-30 09:25
Core Points - The company, Henan Mingtai Aluminum Industrial Co., Ltd., was established as a joint-stock company from a limited liability company, registered in Gongyi City, Henan Province, with a registered capital of RMB 1,243,704,027 [2][3] - The company was approved by the China Securities Regulatory Commission for its initial public offering of 60,000,000 shares, which were listed on the Shanghai Stock Exchange on September 19, 2011 [2][3] - The company's business scope includes manufacturing various aluminum products and conducting import and export activities, excluding those subject to national prohibition or administrative approval [5] Company Structure - The company's total assets are divided into equal shares, with each share having a par value of RMB 1, totaling 1,243,704,027 shares issued [3][19] - The company is designed for perpetual existence as a joint-stock company, with the chairman or manager serving as the legal representative [3][4] - The company has established a Communist Party organization to conduct activities in accordance with the Party's regulations [4] Share Issuance and Ownership - The issuance of shares follows principles of fairness and justice, ensuring equal rights for all shareholders of the same class [5][10] - The company has a detailed record of its shareholders, including their subscribed shares, holding ratios, and contribution methods, with the largest shareholder being Ma Tingyi, holding 33.62% of the shares [6][8] - The company allows for the transfer of shares in accordance with legal regulations, with specific restrictions on the transfer of shares held by founders and senior management [13][14] Corporate Governance - The company’s articles of association serve as a legally binding document governing the relationships and rights among the company, shareholders, and management [4][17] - Shareholders have the right to request information, attend meetings, and participate in decision-making processes, ensuring transparency and accountability [15][16] - The company is required to disclose significant events and maintain the independence of its operations, assets, and finances [20]
鼎胜新材(603876):2024年报及2025一季报点评:Q4包装箔扭亏盈利大幅改善,25年各产品盈利趋稳
Soochow Securities· 2025-04-30 12:43
Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's revenue for 2024 is projected to be 24.02 billion yuan, representing a year-on-year increase of 26.01%, while the net profit attributable to shareholders is expected to be 301.09 million yuan, a decrease of 43.70% year-on-year [8] - The report anticipates that the profitability of various products will stabilize in 2025, with a forecasted net profit of 500.99 million yuan, reflecting a significant increase of 66.39% year-on-year [8] - The company is expected to maintain stable profitability levels across its product lines, particularly in battery foil and packaging foil, with specific projections for sales volumes and profit margins [8] Financial Projections - Total revenue projections for the company are as follows: - 2023: 19.064 billion yuan - 2024: 24.022 billion yuan - 2025: 25.461 billion yuan - 2026: 27.500 billion yuan - 2027: 29.823 billion yuan - Year-on-year growth rates for revenue are projected at: - 2024: 26.01% - 2025: 5.99% - 2026: 8.01% - 2027: 8.45% [1][9] - Net profit attributable to shareholders is forecasted as follows: - 2023: 534.83 million yuan - 2024: 301.09 million yuan - 2025: 500.99 million yuan - 2026: 602.11 million yuan - 2027: 755.27 million yuan - Year-on-year growth rates for net profit are projected at: - 2024: -43.70% - 2025: 66.39% - 2026: 20.18% - 2027: 25.44% [1][9] Valuation Metrics - The report estimates the price-to-earnings (P/E) ratio for the company as follows: - 2024: 24.95 - 2025: 15.00 - 2026: 12.48 - 2027: 9.95 - The target price for the stock is set at 10.8 yuan, based on a valuation of 20 times the earnings for 2025 [8][9]