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Mingtai Aluminum\'s November 2024 Business Report
Increase the proportion of high value-added products Henan Mingtai Al.Industrial plans to change some of the raised funds investment projects | Quick Read Announcement
① In the opportunity of the "Zhengkai 3 million autos industry belt," henan mingtai al.industrial is increasing investment in new energy battery materials and aluminum plates and strips for autos; ② The company has entered high-tech and high value-added fields such as aluminum for new energy, aluminum for new materials, aluminum for transportation, and aluminum for lightweight autos.
henan mingtai al.industrial (601677.SH): intends to change some of the raised funds investment projects.
Gelonghui, November 29丨Henan Mingtai Al. Industrial (601677.SH) announced that the total original project investment was 4,035.42 million yuan, with planned investment of raised funds at 1,268.3527 million yuan. Based on changes in the domestic and foreign market environment and policies, to better protect the interests of the company and all shareholders, the company has made a prudent decision to change part of the unused raised funds and accumulated earnings to be used for the implementation of the "Auto and Green Energy Aluminum Industrial Park Project" by its wholly-owned subsidiary Henan Hongsheng New Materials Technology Co., Ltd., with a total investment amount of 2.006 billion yuan, and the amount of raised funds to be used is 12.
Henan Mingtai Al. Industrial (601677.SH): The cancellation of the aluminum product export tax rebate will take effect from December, and the company's existing foreign trade orders can be shipped by the end of November.
On November 22, Gelonghui reported that Henan Mingtai Al. Industrial (601677.SH) stated on the interactive platform that the cancellation of the aluminum export tax rebate will be implemented starting in December. The company's current foreign trade orders can be shipped by the end of November. The company's recycled aluminum products are green and low-carbon, with significant advantages, and communication has already taken place with foreign customers to increase product prices. At the same time, measures such as processing materials and increasing the company's overseas production capacity will also be taken to eliminate the negative impact brought by the cancellation of the tax rebate.
Henan Mingtai Al. Industrial (601677.SH): The first phase of the Yirui project has basically been completed and is gradually going into production.
On November 18, Gelonghui reported that Henan Mingtai Al. Industrial (601677.SH) announced on the interactive platform that the first phase of the Yirui project has been basically completed and is gradually being put into production. New projects are under construction based on market demand. Since its listing, the company has maintained annual cash dividends, and this year a third-quarter dividend scheme was implemented. If there are any repurchase plans in the future, the obligation for timely information disclosure will be fulfilled.
Henan Mingtai Al.Industrial (601677.SH): The company currently does not directly export to the USA.
Gelonghui November 8th | Henan Mingtai Al.Industrial (601677.SH) stated on the interactive platform that the company currently does not directly export to the USA. Yirui New Materials has completed the basic construction of an annual output of 0.7 million tons of recycled aluminum and high-performance aluminum materials project, providing strong support for the rapid expansion of the company's future production and sales scale, while also achieving adjustments and optimization of the company's product structure, enhancing profit space, and promoting the company's sustainable green and low-carbon development. Currently, the country has introduced policies to open up the import of scrap aluminum, which is beneficial to recycled aluminum projects. Some of the company's products are indirectly supplied to first-line car companies such as Tesla through traders.
Why Investors Shouldn't Be Surprised By Henan Mingtai Al.Industrial Co.,Ltd.'s (SHSE:601677) Low P/E
