中国宏桥 2024 年业绩再创新高：营收净利双增，产业链优势凸显

基础金属	铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁
稀有金属	稀土稀土矿稀土氧化物稀土金属钕铁硼稀散金属锑铋铟锗镓硒钽锆贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒
新能源	锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

基础金属

铜电解铜铜精矿铜管铜棒废铜铜排铜合金精铜杆再生铜杆铜板带铝铝土矿氧化铝电解铝铝辅料铝棒铝合金锭废铝铝杆铝型材铝板卷铅铅精矿铅锭铅蓄电池再生精铅还原铅废铅蓄电池铅合金锌锌精矿电解锌锌合金氧化锌锌粉锡锡精矿锡锭锡材镁

稀有金属

稀土稀土矿稀土氧化物稀土金属钕铁硼 稀散金属锑铋铟锗镓硒钽锆 贵金属白银钨钨精矿 APT(仲钨酸铵)钨粉碳化钨钨酸钠钨条钨铁钨材钼钼精矿工业氧化钼钼铁钼化工高纯三氧化钼钼金属钛钛精矿钛渣四氯化钛海绵钛钛金属钛白粉硒

新能源

锂锂矿锂化合物金属锂镍镍矿镍铁精炼镍镍盐高冰镍 MHP 钴电解钴钴粉氯化钴四氧化三钴硫酸钴钴中间品氧化钴碳酸钴钴酸锂锰锰矿电解锰电池级硫酸锰 锂电正负极三元前驱体磷酸铁正极材料石油焦针状焦包覆沥青人造石墨硅碳负极硅氧负极硅

中国宏桥 2024 年业绩再创新高：营收净利双增，产业链优势凸显

2025-03-17 09:08:54 来源：北方有色网责任编辑：管理员

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3 月 14 日，全球铝业龙头中国宏桥集团（01378.HK）发布 2024 年全年业绩公告，公司实现营业收入 1561.7 亿元，同比增长 16.9%；归母净利润达 223.7 亿元，同比大幅增长 95.2%，创历史新高。这一成绩不仅延续了上半年的高增长态势，更彰显了公司在行业波动中的稳健经营能力。

量价齐升与成本优化驱动利润爆发

2024 年，中国宏桥的铝合金产品和氧化铝产品成为增长核心。数据显示，铝合金产品销量达 583.7 万吨，同比增长 1.5%，平均售价同比上涨 6.6% 至 17550 元 / 吨（不含税）；氧化铝销量 1092.1 万吨，同比增加 5.3%，均价飙升 33.6% 至 3420 元 / 吨（不含税）。此外，铝合金加工产品销量同比增长 32.1% 至 76.6 万吨，进一步拓展了高附加值市场。

利润端的大幅增长得益于 “量价齐升” 与成本控制的双重效应。报告期内，公司主要原材料煤炭和阳极炭块采购价格同比下降，叠加产品结构优化，推动毛利同比激增 101.2% 至 421.6 亿元，毛利率提升至 27.0%，显著高于行业平均水平。

产业链一体化构筑核心竞争力

中国宏桥的业绩韧性源于其深度整合的产业链布局。公司构建了 “热电 — 铝土矿 — 氧化铝 — 电解铝 — 铝精深加工 — 再生铝” 的全链条生态，实现铝土矿自给率 100%，并通过自备电厂降低电力成本。2024 年，公司云南电解铝产能逐步复产，绿电占比提升进一步强化了低碳优势。此外，几内亚铝土矿项目年产能稳定在 5000 万吨，印尼氧化铝产能 200 万吨 / 年，保障了原料供应的稳定性。

高分红回馈股东，行业前景持续看好

除业绩亮眼外，中国宏桥持续践行高分红策略。2024 年中期每股派息 0.59 港元，全年分红比例有望进一步提升，体现了公司对股东的长期承诺。展望未来，随着全球铝需求复苏及新能源、高端制造领域的增长，公司计划通过技术升级和产能优化，巩固全球铝业龙头地位。

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中国宏桥 2024 年业绩再创新高：营收净利双增，产业链优势凸显

量价齐升与成本优化驱动利润爆发

产业链一体化构筑核心竞争力

高分红回馈股东，行业前景持续看好

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