Stock Code: 002379 Stock Abbreviation: Hongqiao Holdings
Shandong Hongqiao Aluminum Holdings Co., Ltd.
(No. 12, South Side of Huixian 1st Road, Economic Development Zone, Zouping City, Binzhou City, Shandong Province)
2026 Feasibility Analysis Report on the Plan for Issuing Shares to Specific Targets
July 2026
Shandong Hongqiao Aluminum Holdings Co., Ltd. (hereinafter referred to as "Hongqiao Holdings" or the "Company") is a company listed on the main board of the Shenzhen Stock Exchange. To further enhance the Company's sustainable development capabilities and promote its growth, the Company has prepared this feasibility analysis report (hereinafter referred to as "this Report") for the issuance of shares to specific targets in accordance with the Company Law of the People's Republic of China (hereinafter referred to as the "Company Law"), the Securities Law of the People's Republic of China (hereinafter referred to as the "Securities Law"), the Administrative Measures for the Registration of Securities Issuance by Listed Companies (hereinafter referred to as the "Administrative Measures"), and other relevant laws, regulations, and normative documents.
Unless otherwise specified, terms used in this Report have the same meanings as those defined in the "Shandong Hongqiao Aluminum Holdings Co., Ltd. 2026 Plan for Issuing Shares to Specific Targets."
I. Background and Purpose of the Issuance to Specific Targets
(I) Background of the Issuance to Specific Targets
- Implementing national policies and leading the green and low-carbon transformation of the electrolytic aluminum industry
Under the dual demands of accelerating the global energy structure transition and environmental protection, vigorously developing new energy power generation and building a clean and low-carbon energy system have become an irreversible trend. Major economies have successively proposed goals and paths for "carbon peaking" and "carbon neutrality." Based on the inherent requirements of promoting sustainable development and the responsibility of building a community with a shared future for mankind, in September 2020, President Xi Jinping announced to the world at the 75th United Nations General Assembly the goals of achieving carbon peaking before 2030 and carbon neutrality before 2060.
To promote the realization of the "carbon peaking" and "carbon neutrality" goals, the State Council, the National Development and Reform Commission, and other departments have successively issued policies such as the "Action Plan for Carbon Peaking Before 2030," the "14th Five-Year Plan for National Economic and Social Development and Outline of Long-Range Objectives Through the Year 2035," and the "14th Five-Year Plan for Renewable Energy Development," pointing the way for building a new power system. Promoting green power generation business and accelerating project investment and construction play an important role in advancing the "dual carbon" strategy, ensuring power system security, and building a new power system.
The "Implementation Plan for High-Quality Development of the Aluminum Industry (2025-2027)," jointly released by ten departments in 2025, clearly requires that the proportion of clean energy used in the electrolytic aluminum industry be increased to over 30% by 2027 and over 50% by 2030. In 2026, the National Development and Reform Commission, the Ministry of Industry and Information Technology, and other departments issued the "Notice on Carrying Out the Three-Year Action for Energy Conservation and Carbon Reduction in Key Industries," requiring that starting from 2026, nine industries, including steel and electrolytic aluminum, be taken as priorities to fully implement energy conservation and carbon reduction retrofits over three years, pushing for the maximum possible improvement in corporate energy and carbon efficiency and significantly enhancing the industry's green and low-carbon development level.
- Global energy transition accelerates, further opening market space for wind and solar clean energy