Group 1 - Xinjiang Zhonghe's stock increased by 1.1%, reaching 8.28 CNY per share, with a trading volume of 1.25 billion CNY and a turnover rate of 1.09%, resulting in a total market capitalization of 11.623 billion CNY [1] - Xinjiang Zhonghe Co., Ltd. is located in Urumqi, Xinjiang, and was established on February 13, 1996, with its listing date on February 15, 1996. The company specializes in the production and sales of high-purity aluminum, electronic aluminum foil, and other aluminum products [1] - The main business revenue composition includes: alloy products 39.49%, high-purity aluminum 18.16%, electrode foil 14.49%, electronic aluminum foil 9.34%, aluminum products 9.05%, and other 5.30% [1] Group 2 - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Xinjiang Zhonghe, having reduced its holdings by 66,600 shares in the third quarter, now holding 7.7105 million shares, which is 0.55% of the circulating shares [2] - The Southern CSI 1000 ETF (512100) was established on September 29, 2016, with a latest scale of 76.63 billion CNY, achieving a year-to-date return of 29.2% and a one-year return of 24.73% [2]

Core Viewpoint - Xinjiang Zhonghe's stock price has shown a positive trend with a year-to-date increase of 15.52%, indicating a stable performance in the market [2] Group 1: Stock Performance - As of December 19, Xinjiang Zhonghe's stock price increased by 2.07%, reaching 7.89 CNY per share, with a trading volume of 58.98 million CNY and a turnover rate of 0.54% [1] - The stock has experienced a 1.54% increase over the last five trading days, a 2.33% increase over the last 20 days, and a 5.20% increase over the last 60 days [2] Group 2: Financial Performance - For the period from January to September 2025, Xinjiang Zhonghe reported a revenue of 5.957 billion CNY, reflecting a year-on-year growth of 8.22%, while the net profit attributable to shareholders decreased by 39.20% to 531 million CNY [2] - The company has distributed a total of 1.828 billion CNY in dividends since its A-share listing, with 1.017 billion CNY distributed over the past three years [3] Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Xinjiang Zhonghe increased to 63,400, marking a 4.23% rise, while the average circulating shares per person decreased by 4.06% to 22,125 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 12.2048 million shares, a decrease of 284,000 shares from the previous period [3]

Group 1 - Xinjiang Zhonghe's stock price increased by 6.1%, reaching 9.04 CNY per share, with a trading volume of 2.19 billion CNY and a turnover rate of 1.80%, resulting in a total market capitalization of 12.69 billion CNY [1] - The company, established on February 13, 1996, and listed on February 15, 1996, is located in Urumqi, Xinjiang, and specializes in the production and sales of various aluminum products, including high-purity aluminum and electronic aluminum foil [1] - The main revenue composition of Xinjiang Zhonghe includes alloy products (39.49%), high-purity aluminum (18.16%), electrode foil (14.49%), electronic aluminum foil (9.34%), aluminum products (9.05%), and other categories [1] Group 2 - Southern Fund's Southern CSI 1000 ETF (512100) is among the top ten circulating shareholders of Xinjiang Zhonghe, having reduced its holdings by 66,600 shares in the third quarter, now holding 7.71 million shares, which is 0.55% of the circulating shares [2] - The Southern CSI 1000 ETF has a total scale of 76.63 billion CNY and has achieved a year-to-date return of 28.07%, ranking 1919 out of 4216 in its category [2] - The fund manager, Cui Lei, has been in position for 7 years and 7 days, with a total asset scale of 122.76 billion CNY, achieving a best return of 179.77% and a worst return of -15.93% during the tenure [3]

Core Viewpoint - Xinjiang Zhonghe's stock price has experienced fluctuations, with a recent decline of 2.07% and a year-to-date increase of 17.86%, indicating volatility in market performance [1] Financial Performance - For the first half of 2025, Xinjiang Zhonghe reported revenue of 4.003 billion yuan, a year-on-year increase of 10.95%, while net profit attributable to shareholders decreased by 38.89% to 391 million yuan [2] - Cumulative cash dividends since the company's A-share listing amount to 1.828 billion yuan, with 1.017 billion yuan distributed over the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 2.33% to 60,900, while the average circulating shares per person increased by 4.43% to 23,060 shares [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 12.4888 million shares, a decrease of 1.4128 million shares from the previous period [3]

本报告依据中国资产评估准则编制 包头铝业有限公司拟吸收合并内蒙 古华云新材料有限公司所涉及的包 头铝业有限公司股东全部权益价值 资产评估报告 国众联评报字（2025）第 3-0011 号 此为二维码防伪标志,内含 本报告估值主要信息,建议 报告使用方查证核实 评估机构:国众联资产评估土地房地产估 价有限公司 联系地址:深圳市罗湖区清水河街道清水 河社区清水河三路 7 号中海慧 智大厦 1 栋 1C618 网址： www.gzlchina.com 电话: 0755-88832456 邮编: 518024 报告日期: 二〇二五年二月二十八日 包 头 铝 业 有 限 公 司 拟 吸 收 合 并 内 蒙 古 华 云 新 材 料 有 限 公 司 所 涉 及 的 包 头 铝 业 有 限 公 司 股 东 全 部 权 益 价 值 目 录 | 声 月】 | | --- | | 摘 英 … | | 资产评估报告 … | | 一、绪言 . | | 二、委托人、被评估单位概况及其他评估报告使用人 | | 三、评估目的 . | | 四、评估对象和评估范围 | | 五、价值类型及其定义 . | | 六、评估基准日 | | 七、评估依据 ...