截至12月19日，焦作万方股东户数7.02万，较上期减少3.13%；人均流通股16960股，较上期增加 3.23%。2025年1月-9月，焦作万方实现营业收入49.82亿元，同比增长4.03%；归母净利润9.06亿元，同 比增长71.58%。 1月9日，焦作万方盘中上涨2.05%，截至09:54，报11.93元/股，成交1.85亿元，换手率1.32%，总市值 142.23亿元。 资金流向方面，主力资金净流入79.64万元，特大单买入1518.42万元，占比8.23%，卖出1163.44万元， 占比6.30%；大单买入4445.17万元，占比24.08%，卖出4720.51万元，占比25.57%。 焦作万方今年以来股价涨8.26%，近5个交易日涨8.26%，近20日涨21.24%，近60日涨26.24%。 资料显示，焦作万方铝业股份有限公司位于河南省焦作市马村区待王镇焦新路南侧，成立日期1996年11 月27日，上市日期1996年9月26日，公司主营业务涉及铝冶炼及加工,铝制品、金属材料销售。主营业务 收入构成为：铝液79.46%，铝锭8.64%，铝合金7.66%，其他(补充)4.24%。 焦作万方所属申万行业 ...

1月8日，焦作万方盘中下跌2.16%，截至10:23，报11.78元/股，成交3.09亿元，换手率2.18%，总市值 140.44亿元。 资金流向方面，主力资金净流出2316.49万元，特大单买入1223.57万元，占比3.96%，卖出2556.80万 元，占比8.28%；大单买入7484.49万元，占比24.23%，卖出8467.75万元，占比27.41%。 焦作万方所属申万行业为：有色金属-工业金属-铝。所属概念板块包括：有色铝、稀缺资源、稀土永 磁、中盘、融资融券等。 截至12月19日，焦作万方股东户数7.02万，较上期减少3.13%；人均流通股16960股，较上期增加 3.23%。2025年1月-9月，焦作万方实现营业收入49.82亿元，同比增长4.03%；归母净利润9.06亿元，同 比增长71.58%。 分红方面，焦作万方A股上市后累计派现17.59亿元。近三年，累计派现4.05亿元。 焦作万方今年以来股价涨6.90%，近5个交易日涨6.22%，近20日涨21.44%，近60日涨28.60%。 机构持仓方面，截止2025年9月30日，焦作万方十大流通股东中，申万宏源证券有限公司位居第五大流 通股东， ...

兴仁市不断优化能源供给结构、强化煤电保障，推动"以煤发电、以电产铝、以铝带电、以电促煤"循环经济 产业发展。"十四五"期间，该市扩能升级成效显著，煤炭产量连续多年居黔西南州首位，累计煤炭产量 3375.12万吨，同比增加73.27%；累计供应电煤2193.45万吨，同比增加149.8%，同时，该市发挥日照和风力 优势，按照"风光水火储"综合能源基地建设规划，统筹、规划、组织全市范围内的光伏电站、风电、水电以 及抽水储能等清洁能源基地项目开发建设。"十四五"期间，该市建成投运新能源项目7个，总装机规模30万千 瓦。据统计，"十四五"期间，该市累计发电量11.93亿千瓦时，满足了铝及铝精深加工产业需求，形成了以电 促铝的产业闭环。 转自：贵州日报 兴仁巴铃重工业园区贵州铝基新材有限公司生产车间，工人正在运送铝板。 贵州日报天眼新闻记者 段源兴 摄 本报讯（记者 支太檾）1月4日，贵州兴仁经济开发区，贵州兴仁登高新材料有限公司，铝液抬包车穿梭不 息，铝液从电解车间到下游公司，全程15分钟即达。"15分钟产业圈"是兴仁着力打造"煤电铝一体化"循环经 济产业链取得的成果之一。 近年来，兴仁市着力将煤炭资源转化为电力优势 ...

用绿电生产绿品，正是云南以绿色能源赋能产业转型升级的生动实践。从电解铝到硅光伏、新能源电 池，从鲜花、咖啡到文旅康养，源源不断的绿电有力支撑传统产业转型升级，特色产业做大做强，新兴 产业加快崛起，助力企业认证绿色产品、创建绿色工厂、打造零碳园区，全方位赋能经济社会发展全面 绿色转型。 不仅如此，我省一批零碳园区加快建设，其中，大理祥云经开区、曲靖经开区入选国家级零碳园区建设 名单；首批确定4个绿电直连项目，将推动绿电就地就近消纳约11亿千瓦时，满足企业绿色用能需求， 提升云南制造出海竞争力；依托通信时延优势，我省加快布局"绿电+智算"新赛道，推动绿色能源与数 字产业深度融合。 滚滚江水上、崇山峻岭间，水电站机组高速运转，"大风车"迎风旋转，光伏板"逐光生金"，源源不断的 绿电跨越千里点亮万家灯火；智慧工厂、零碳园区，"以绿制绿"正重构产业生态，各行业以更低能耗、 更少排放加速绿色蜕变。 从降碳、减排到治污、增绿，云南高质量发展的强劲脉搏里涌动着浓浓绿意。 "要建立健全绿色低碳循环发展经济体系，加快产业、能源、交通、城乡建设、消费等重点领域绿色转 型。""加快绿色低碳发展，拓宽绿水青山向金山银山转换的渠道"，省 ...

证券日报网讯 12月10日，焦作万方在互动平台回答投资者提问时表示，公司铝产品主要以铝液的形式 销售给周边铝加工厂，铝锭占比较小。铝锭价格的波动受到市场环境、供需等多种因素影响。 （文章来源：证券日报） ...

Core Viewpoint - The stock of Jiaozuo Wanfang has shown a significant increase in price this year, with a year-to-date rise of 52.94%, despite recent fluctuations in the short term [1][2]. Group 1: Stock Performance - As of November 24, Jiaozuo Wanfang's stock price reached 9.62 CNY per share, with a trading volume of 2.49 billion CNY and a market capitalization of 11.469 billion CNY [1]. - The stock has experienced a decline of 8.56% over the last five trading days and a slight decrease of 0.93% over the last 20 days, while it has increased by 4.57% over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent occurrence on March 18 [1]. Group 2: Financial Performance - For the period from January to September 2025, Jiaozuo Wanfang reported a revenue of 4.982 billion CNY, reflecting a year-on-year growth of 4.03%, and a net profit attributable to shareholders of 906 million CNY, which is a significant increase of 71.58% year-on-year [2]. - The company has distributed a total of 1.759 billion CNY in dividends since its A-share listing, with 405 million CNY distributed over the past three years [3]. Group 3: Shareholder Information - As of November 20, the number of shareholders for Jiaozuo Wanfang increased to 67,700, marking a rise of 1.53%, while the average number of circulating shares per shareholder decreased by 1.50% to 17,611 shares [2]. - Notable institutional shareholders include Shenwan Hongyuan Securities Co., Ltd., which holds 24.1652 million shares, and Hong Kong Central Clearing Limited, which is a new shareholder with 18.2101 million shares [3].

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [1][3][16] Core Views - The major asset restructuring is beneficial for the company as it helps resolve industry competition issues, increases capacity, and enhances performance. The restructuring is expected to increase revenue by approximately 38%, net profit attributable to shareholders by about 27%, and total assets by around 46% by the first half of 2025 [3][4][16] - The target company's assets are of high quality, with a transaction price of approximately 11.15 billion yuan. The expected price-to-earnings ratio (PE) for the acquisition is between 5.5 and 6, while the company's current PE is around 11. The company maintains its profit forecast, expecting net profits attributable to shareholders to be 5.6 billion, 5.8 billion, and 6 billion yuan for 2025, 2026, and 2027 respectively [3][16] Summary by Sections Transaction Details - The company plans to acquire 100% equity of Baiyinhu Coal Power through issuing shares and cash, with a total transaction price of 1,114.19 million yuan, consisting of 156.09 million yuan in cash and 958.83 million yuan in shares. The share issuance price is set at 15.57 yuan per share, resulting in the issuance of 649,174,342 shares, accounting for 22.46% of the total share capital post-transaction [2][3] Financial Impact - The completion of the transaction is expected to lead to a slight decrease in immediate earnings per share, but it is projected that the acquisition will not dilute the company's earnings per share for the first nine months of 2025. Long-term, the acquisition is expected to enhance the company's earnings per share as the target company's performance improves [5][16] - Key financial indicators post-transaction include total assets increasing from approximately 54.98 billion yuan to 80.08 billion yuan (46% increase), total liabilities rising from about 14.99 billion yuan to 33.32 billion yuan (122% increase), and net profit attributable to shareholders increasing from approximately 2.79 billion yuan to 3.55 billion yuan (27% increase) [7][16] Business Overview - Baiyinhu Coal Power's main businesses include coal, electrolytic aluminum, and electricity production. The company has an annual coal production capacity of 15 million tons and an electrolytic aluminum capacity of 405,300 tons. The coal products are primarily sold to coal-fired enterprises in Inner Mongolia, Jilin, and Liaoning [4][8] - The electrolytic aluminum business contributes significantly to revenue, accounting for 67% of the total revenue in the first half of 2025, with a gross profit margin of 56.5% [8][9] Performance Commitments - The performance commitments for the Baiyinhu Coal Power's mining rights include expected net profits of 554.31 million yuan for 2026, 2027, and 2028, and 575.17 million yuan for 2029. The commitments ensure that the company will achieve a cumulative net profit of no less than 1.66 billion yuan over the specified years [14][15][16]

Core Viewpoint - Electric Power Investment Energy (002128.SZ) plans to acquire 100% equity of Baiyinhu Coal Power from State Power Investment Corporation Inner Mongolia through a combination of share issuance and cash payment, with a transaction value of 11.149 billion yuan [2] Group 1: Company Overview - Electric Power Investment Energy was established in 2001 and serves as an important investment and development platform for State Power Investment Corporation in Inner Mongolia [2] - The company has evolved from coal production and sales to a comprehensive clean energy enterprise focusing on coal, coal-electricity-aluminum integration, and clean energy [2] - As of November 14, the company's stock price reached a historical high of 28.98 yuan, with a market capitalization of 64.176 billion yuan, reflecting a year-to-date increase of 52.45% [2] Group 2: Financial Performance - For the third quarter of 2025, the company reported revenue of 22.4 billion yuan, a year-on-year increase of 2.7%, while net profit attributable to shareholders decreased by 6.4% to 4.1 billion yuan [2] Group 3: Acquisition Details - The acquisition of Baiyinhu Coal Power, which has an annual lignite production capacity of 15 million tons and an electrolytic aluminum capacity of 405,000 tons, is expected to enhance the company's capacity in core businesses [4] - Baiyinhu Coal Power is projected to achieve revenue of 11.402 billion yuan and a net profit of 1.396 billion yuan in 2024 [4] - The acquisition is anticipated to strengthen the company's leading position in the regional industry and open up broader long-term development opportunities [4] Group 4: Market Dynamics - Baiyinhu Coal Power primarily sells coal products to coal-fired enterprises in Inner Mongolia, Jilin, and Liaoning, and its aluminum products are sold to nearby processing companies [3] - The coal market in Northeast China is showing strong resilience due to the ongoing elimination of outdated production capacity, with the average price of 3200 kcal lignite in the region at 282 yuan/ton, only a slight decline of 3.6% compared to 2024 [3] - The company benefits from a high proportion of long-term contracts in its coal sales structure, which supports stable performance in its coal segment [3]

Core Viewpoint - The company, Electric Power Investment Energy, plans to acquire 100% equity of Baiyinhu Coal Power from the State Power Investment Corporation's Inner Mongolia branch through a combination of share issuance and cash payment, with a transaction value of 11.149 billion yuan [1] Group 1: Company Overview - Electric Power Investment Energy was established in 2001 and serves as an important investment and development platform for the State Power Investment Corporation in Inner Mongolia [3] - The company has evolved from coal production and sales to a comprehensive clean energy enterprise focusing on coal, coal-electricity-aluminum integration, and clean energy [3] Group 2: Financial Performance - For the third quarter of 2025, the company reported revenue of 22.4 billion yuan, a year-on-year increase of 2.7%, while net profit attributable to shareholders decreased by 6.4% to 4.1 billion yuan [3] - Baiyinhu Coal Power is projected to achieve revenue of 11.402 billion yuan and a net profit of 1.396 billion yuan in 2024 [5] Group 3: Market Position and Strategy - The company is located in a core coal production area in eastern Inner Mongolia, with a strong customer base in Northeast China, benefiting from the ongoing elimination of outdated production capacity in the region [4] - The acquisition of Baiyinhu Coal Power, which has an annual lignite production capacity of 15 million tons and an electrolytic aluminum capacity of 405,000 tons, is expected to enhance the company's capacity in these core business areas and strengthen its market position [4][5] - The company is also advancing the construction of the Zaha Noer 350,000-ton green electricity aluminum project, expected to be operational by the end of 2025, further enhancing its integrated operations in coal, electricity, and aluminum [5]

Core Viewpoint - Electric Power Investment Energy (002128.SZ) plans to acquire 100% equity of Baiyinhu Coal Power from State Power Investment Corporation Inner Mongolia through a combination of share issuance and cash payment, with a transaction value of 11.149 billion yuan [1] Group 1: Company Overview - Electric Power Investment Energy was established in 2001 and serves as an important investment and development platform for State Power Investment Corporation in Inner Mongolia [3] - The company has evolved from coal production and sales to a comprehensive clean energy enterprise focusing on coal, coal-electricity-aluminum integration, and clean energy [3] Group 2: Financial Performance - For the third quarter of 2025, the company reported revenue of 22.4 billion yuan, a year-on-year increase of 2.7%, while net profit attributable to shareholders decreased by 6.4% to 4.1 billion yuan [3] - Baiyinhu Coal Power is expected to achieve revenue of 11.402 billion yuan and a net profit of 1.396 billion yuan in 2024 [5] Group 3: Market Position and Strategy - The company is located in a core coal production area in eastern Inner Mongolia, with a strong customer base in Northeast China, benefiting from the ongoing elimination of outdated production capacity in the region [4] - The acquisition of Baiyinhu Coal Power, which has a coal production capacity of 15 million tons per year and an electrolytic aluminum capacity of 405,000 tons per year, is expected to enhance the company's capacity in these core businesses and strengthen its market position [4][5] - The company is also advancing the construction of the Zaha Noer 350,000-ton green electricity aluminum project, expected to be operational by the end of 2025, further enhancing its integrated operations in coal, electricity, and aluminum [5]