This week, the weekly operating rate of China's leading aluminum downstream processing enterprises pulled back 0.5 percentage points WoW to 64.7%. The industry continued its weak recovery pattern, with divergence among segments intensifying.

Xinya Cable (001382) disclosed its annual report on April 20. In 2025, the company achieved operating revenue of 2.947 billion yuan, up 4.00% YoY; net profit attributable to the parent company was 100 million yuan, down 25.57% YoY; basic earnings per share were 0.26 yuan. The company proposed a cash dividend of 0.75 yuan per 10 shares (tax inclusive). The decline in net profit attributable to the parent company was mainly due to the following reasons: first, intensified competition in the wire and cable market and the sustained rise in raw material prices of copper and aluminum put the company's comprehensive gross margin under pressure; second, the expansion of the company's accounts receivable led to an increase in credit impairment loss provisions.

The blockade of the Strait of Hormuz has delivered a direct and material external shock to Southeast Asia’s energy supply structure. Solar (PV) is emerging as the main alternative for reducing exposure to fossil fuel price volatility. However, the structural tension between accelerating PV penetration and entrenched electricity market models will be the decisive factor governing the region’s energy transition pace.

1 Tender Conditions The bid inviter for this tender project, May 2026 Pangang Vanadium Titanium Iron FeTi70-A(N), 10–50 (PGWZMYHGZHD260417282480), is Pangang Group Materials Trading Co., Ltd. Resources Business Division. The project funds are self-raised. This project has met the tender conditions, and an open tender is now being conducted. 2 Project Overview and Tender Scope 2.1 Project Name: May 2026 Pangang Vanadium Titanium Iron FeTi70-A(N), 10–50 2.2 Alternative procurement method upon tender failure: negotiated procurement 2.3 The tender content, scope, and scale of this project are detailed in the attachment "Material List Attachment.pdf". 3 Bidder Qualification Requirements 3.1 Joint venture bidding is not permitted in this tender. 3.2 This tender requires bidders to possess the following qualification requirements: (1) Manufacturing-type business license 3.3 This tender requires bidders to meet the following registered capital requirements: Registered capital for manufacturing-type: 5 million yuan and above 3.4 This tender requires bidders to possess the following performance requirements: When submitting bids, bidders shall provide performance proof (scanned copies of invoices) for similar products from January 1, 2023 to the bid submission deadline. 3.5 This tender requires bidders to possess the following capability requirements, financial requirements, and other requirements: Financial requirements: The bidder's registered capital shall be no less than 5 million yuan. Capability requirements: Scanned copies or photos of the original business license (or its duplicate) shall be provided. Other requirements: See attachments for details (if applicable). 3.6 This tender requires that for projects subject to mandatory tendering by law, bids from persons subject to enforcement for breach of trust shall be invalid. 4 Obtaining the Tender Documents 4.1 All parties interested in bidding shall log in to the Ansteel Smart Tender and Bid Platform at http://bid.ansteel.cn to download the electronic tender documents from 08:45 on April 21, 2026 to 08:45 on May 13, 2026 (Beijing time, the same hereinafter). Click to view tender details:

1 Tender Conditions The bid inviter of this tender project, Beizhong Company 26.3.26 Copper Connector Type 1 and Other Spare Parts (Annual Tender) Project (BGBTGTHGZHD260420282861), is the Operations Management Department (Trusteeship) of Beitai Steel (Group) Co., Ltd. The project funds are self-raised. The project has met the tender conditions, and open tendering is now conducted. 2 Project Overview and Tender Scope 2.1 Project Name: Beizhong Company 26.3.26 Copper Connector Type 1 and Other Spare Parts (Annual Tender) Project 2.2 Alternative procurement method upon tender failure: Negotiated procurement 2.3 The tender content, scope, and scale of this project are detailed in the attachment "Material List Attachment.pdf". 3 Bidder Qualification Requirements 3.1 Joint venture bidding is not allowed in this tender. 3.2 Bidders in this tender shall possess the following qualification requirements: (1) Manufacturing-type business license (2) Distribution-type business license 3.3 Bidders in this tender shall meet the following registered capital requirements: Registered capital for manufacturing-type: 5 million yuan and above Registered capital for distribution-type: 5 million yuan and above 3.4 Bidders in this tender shall meet the following performance requirements: Provide 1 copy of supply performance for related similar products within 3 years prior to the bid submission deadline of this project (contract and corresponding partial VAT invoices) (scanned copies). 3.5 Bidders in this tender shall meet the following capability requirements, financial requirements, and other requirements: Financial requirements: See attachments for details (if applicable) Capability requirements: See attachments for details (if applicable) Other requirements: See attachments 3.6 For projects subject to mandatory tendering as required by law, bids from persons subject to enforcement for breach of trust shall be invalid in this tender. 4 Obtaining the Tender Documents 4.1 All parties interested in bidding shall log in to the Ansteel Smart Tender and Bid Platform at http://bid.ansteel.cn to download the electronic tender documents from 13:15 on April 20, 2026 to 13:15 on May 11, 2026 (Beijing time, the same hereinafter). Click to view tender details:

1 Procurement Conditions The purchaser of this procurement project, Ansteel Powder Material Carbonyl Nickel Powder (AGGZZBHGXHD260421283206), is the Tender Management Office of the Procurement and Supply Center of Ansteel Group Engineering Technology Development Co., Ltd. The project funds are self-raised. The project has met the procurement conditions, and an open inquiry and comparison is now being conducted. 2 Project Overview and Procurement Scope 2.1 Project Name: Ansteel Powder Material Carbonyl Nickel Powder 2.2 Switching to other procurement methods upon procurement failure: No 2.3 The procurement content, scope, and scale of this project are detailed in the attachment "Material List Attachment.pdf". 3 Bidder Qualification Requirements 3.1 Joint venture bidding is not permitted for this procurement. 3.2 Bidders for this procurement shall possess the following qualification requirements: (1) Business license for distribution (2) Business license for manufacturing 3.3 Bidders for this procurement shall meet the following registered capital requirements: Registered capital for manufacturers: 200 (10,000 yuan) and above Registered capital for distributors: 200 (10,000 yuan) and above 3.4 Bidders for this procurement shall meet the following performance requirements: Supply performance of similar products after January 1, 2022 (contracts and corresponding invoices). 3.5 Bidders for this procurement shall meet the following capability requirements, financial requirements, and other requirements: Financial requirements: See attachments for details (if applicable) Capability requirements: See attachments for details (if applicable) Other requirements: See attachments for details (if applicable) 3.6 For projects subject to mandatory tender and bid procedures as required by law in this procurement, bids from persons subject to enforcement for breach of trust shall be invalid. 4 Obtaining Procurement Documents 4.1 All parties interested in bidding shall log in to the Ansteel Smart Tender and Bid Platform at http://bid.ansteel.cn to download the electronic procurement documents from 11:00 on April 21, 2026 to 13:00 on April 28, 2026 (Beijing time, the same hereinafter). Click to view tender details:

1 Tender Conditions The bid inviter for this tender project, Angang Putian Cold-Rolled Steel Rolls 2604 (AGLZPTHGZHD260421283164), is the Marketing Department of Angang Cold-Rolled Steel Sheet (Putian) Co., Ltd. The project funds are self-raised. The project has met the tender conditions, and open tendering is now conducted. 2 Project Overview and Tender Scope 2.1 Project Name: Angang Putian Cold-Rolled Steel Rolls 2604 2.2 Alternative procurement methods upon tender failure: direct procurement, negotiated procurement 2.3 The tender content, scope, and scale of this project are detailed in the attachment "Material List Attachment.pdf". 3 Bidder Qualification Requirements 3.1 Joint venture bidding is not permitted in this tender. 3.2 This tender requires bidders to possess the following qualification requirements: (1) Manufacturing-type business license (2) Manufacturing-type quality management system certification (ISO9000) 3.3 This tender requires bidders to meet the following registered capital requirements: Manufacturing-type registered capital: 3 million yuan and above 3.4 This tender requires bidders to possess the following performance requirements: Provide one supply performance record of similar products from 2023 to the present (provide the contract and corresponding VAT invoices). 3.5 This tender requires bidders to possess the following capability requirements, financial requirements, and other requirements: Financial requirements: see attachments for details (if applicable) Capability requirements: see attachments for details (if applicable) Other requirements: see attachments for details (if applicable) 3.6 This tender requires that for projects subject to mandatory tendering by law, bids from persons subject to enforcement for breach of trust shall be invalid. 4 Obtaining the Tender Documents 4.1 All parties interested in participating in the bidding shall log in to the Angang Smart Tender and Bid Platform at http://bid.ansteel.cn to download the electronic tender documents from 09:10 on April 21, 2026 to 13:00 on May 14, 2026 (Beijing time, the same hereinafter). Click to view tender details:

[Latest Data from the General Administration of Customs] In March 2026, China's copper wire and cable exports covered 30 provinces nationwide, highly concentrated in the coastal areas of east China and south China. Jiangsu Province ranked first with exports of 29,900 mt, followed by Zhejiang Province at 27,200 mt and Guangdong Province at 15,500 mt in second and third place respectively. The combined exports of the three provinces accounted for over 50% of the national total. (Copper wire and cable HS codes: 85444921, 85444929, 85446012, 85446013, 85446014, 85446019, 85446090)

[Latest Data from the General Administration of Customs] In March 2026, China's copper wire and cable exports rose 8.37% MoM to 118,000 mt, covering 201 countries and regions. Among them, exports to the UK surged 1,466% MoM to 17,000 mt, surpassing Australia to rank first. Australia and Vietnam ranked second and third, with exports of 11,000 mt and 6,000 mt respectively. (Copper wire and cable HS codes: 85444921, 85444929, 85446012, 85446013, 85446014, 85446019, 85446090)

[Latest Data from the General Administration of Customs] In March 2026, China's wire and cable exports totaled 218,000 mt, down 2.63% MoM and down 7.22% YoY. Of this, copper wire and cable exports were 118,000 mt, up 8.37% MoM and up 9.38% YoY. (Copper wire and cable HS codes: 85444921, 85444929, 85446012, 85446013, 85446014, 85446019, 85446090)