Core Viewpoint - The company, KaiSheng New Energy, announced that it will hold a semi-annual performance briefing on September 11, 2025, from 14:00 to 15:00 [2] Group 1 - The performance briefing is scheduled for September 11, 2025 [2] - The timing of the briefing is set for the afternoon, specifically from 14:00 to 15:00 [2]

重要内容提示： 证券代码：600876 证券简称：凯盛新能 公告编号：临 2025-021 号 凯盛新能源股份有限公司 关于召开 2025 年半年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 09 月 04 日（星期四）至 09 月 10 日（星期三） 16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过 公司邮箱 ksxn@zhglb.com 进行提问。公司将在说明会上对投资者普 遍关注的问题进行回答。 凯盛新能源股份有限公司（以下简称"公司"）已于 2025 年 8 月 29 日发布公司 2025 年半年度报告及 2025 年中期业绩公告，为便于 广大投资者更全面深入地了解公司 2025 年半年度经营成果、财务状 况，公司计划于 2025 年 09 月 11 日下午 14:00-15:00 举行 2025 年半 年度业绩说明会，就投资者关心的问题进行交流。 一、 说 ...

Core Viewpoint - The company, Kaisheng New Energy, clarifies that there is no direct competition with its controlling shareholder, Kaisheng Glass Holdings, due to the different types of photovoltaic products they produce and their distinct positions in the supply chain [1] Group 1 - Kaisheng New Energy's main business is the production and sales of photovoltaic module packaging glass, serving crystalline silicon photovoltaic module manufacturers as downstream customers [1] - Kaisheng Glass Holdings primarily produces and sells thin-film photovoltaic glass, targeting end consumers such as integrated solar buildings and solar power plants [1] - The company emphasizes that the significant differences in raw materials, technological processes, and application scenarios between crystalline silicon and thin-film photovoltaic products eliminate any direct conflict of interest [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 （前稱「LUOYANG GLASS COMPANY LIMITED洛陽玻璃股份有限公司」） （在中華人民共和國註冊成立之股份有限公司） （股份編號：01108） 關於召開2025年半年度業績說明會的公告 三. 參加人員 出席本次說明會的人員包括 本公司執行董事兼 總 裁 章 榕 先 生、財 務 總監兼董事會秘書陳紅照先生 及 獨 立 非 執 行 董 事 范 保 群 先 生。 四. 投資者參加方式 凱 盛 新 能 源 股 份 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）及 全 體 成 員 保 證 本 公 告 內 容 不 存 在 任 何 虛 假 記 載、誤 導 性 陳 述 或 者 重 大 遺 漏， 並 對 其 內 容 的 真 實 性、準 確 性 和 完 整 性 承 擔 法 律 責 任。 重 要 內 容 提 示： – 1 ...

Group 1 - The core viewpoint of the news highlights a collective rise in Hong Kong solar stocks, with significant increases in companies such as Xinyi Solar, Fuyao Glass, and others, indicating a positive market sentiment in the solar energy sector [1][2] - As of August 20, 2023, there are 32 new proposed expansion projects in the domestic photovoltaic sector, currently in various stages such as signing, environmental assessment, and fundraising [1] - In the first seven months of 2025, domestic newly installed photovoltaic capacity reached 223.25 GW, representing a year-on-year increase of 81% [1] Group 2 - The CPIA forecasts that newly installed photovoltaic capacity in China could reach 270-300 GW in 2025, reflecting a year-on-year growth of approximately 3% [1] - In overseas markets, traditional markets in Europe and the US are maturing, while emerging markets like India, the Middle East, and Latin America are experiencing rapid demand growth [1] - The CPIA predicts that overseas newly installed photovoltaic capacity could exceed 300 GW in 2025, marking a year-on-year increase of about 25% [1]

Group 1 - The core viewpoint of the news highlights a collective rise in Hong Kong solar stocks, with significant gains for companies like Xinyi Solar and Fuyao Glass, driven by positive developments in the photovoltaic sector [1][2] - As of August 20, 2023, there are 32 new proposed expansion projects in China's photovoltaic sector, with 14 manufacturing projects already underway [1] - According to the National Energy Administration, from January to July 2025, China's newly installed photovoltaic capacity reached 223.25 GW, representing an 81% year-on-year increase [1] Group 2 - CPIA forecasts that China's newly installed photovoltaic capacity could reach 270-300 GW in 2025, reflecting a year-on-year growth of approximately 3% [1] - Emerging markets such as India, the Middle East, and Latin America are experiencing rapid growth in demand for photovoltaic products, while traditional markets in Europe and the US are maturing [1] - Global newly installed photovoltaic capacity is expected to reach 570-630 GW in 2025, with a year-on-year increase of about 13% [1]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 凱盛新能源股份有限公司 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01108 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 250,000,000 | RMB | | 1 RMB | | 250,000,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 250,000,000 | RMB | | 1 RMB | | 250,000,000 | FF301 II. 已發行股份及/或庫存股份變動 ...

Core Insights - The financial report of Kaisheng New Energy (600876) for the first half of 2025 shows a significant decline in performance, with net profit dropping by 719.59% year-on-year and total revenue decreasing by 43.82% [1] Financial Performance - Total revenue for the first half of 2025 was 1.673 billion yuan, down from 2.979 billion yuan in the same period of 2024, representing a decline of 43.82% [1] - The net profit attributable to shareholders was -449 million yuan, a drastic decrease from -54.78 million yuan in the previous year, marking a decline of 719.59% [1] - The gross margin fell to -15.13%, a decrease of 316.95% year-on-year, while the net margin dropped to -30.08%, down 1766.91% [1] - Total expenses (selling, administrative, and financial) amounted to 123 million yuan, accounting for 7.33% of revenue, which is an increase of 63.61% compared to the previous year [1] Cash Flow and Debt - Cash and cash equivalents decreased to 148 million yuan, down 41.47% from 252 million yuan [1] - Interest-bearing liabilities increased to 6.244 billion yuan, a rise of 29.10% from 4.836 billion yuan [1] - The company reported a negative operating cash flow per share of -1.15 yuan, a significant decline of 3890.11% year-on-year [1] Historical Performance and Business Model - The company's historical financial performance has been weak, with a median Return on Invested Capital (ROIC) of 5.37% over the past decade, and a particularly poor ROIC of -16.56% in 2015 [3] - The business model relies heavily on capital expenditures, necessitating careful evaluation of the effectiveness and necessity of these investments [3] - The company has reported losses in 9 out of 29 annual reports since its listing, indicating a challenging financial history [3]

Core Insights - The company, Kai Sheng New Energy (600876.SH), reported a significant decline in revenue and an increase in net loss for the first half of 2025 compared to the previous year [1] Financial Performance - The total operating revenue for the first half of 2025 was 1.673 billion yuan, representing a year-on-year decrease of 43.82% [1] - The net profit attributable to shareholders of the parent company was -449 million yuan, which is an increase in loss of 394 million yuan compared to the same period last year [1] - The basic earnings per share were -0.7 yuan [1]

Core Viewpoint - The company reported a significant decline in revenue and an increase in net loss for the first half of 2025, indicating challenges in the market due to intensified competition and price drops [1] Financial Performance - The company achieved a revenue of 1.673 billion yuan, a year-on-year decrease of 43.82% [1] - The net loss attributable to shareholders was 449 million yuan, an increase of 719.59% year-on-year [1] - Basic loss per share was 0.7 yuan [1] - Total assets reached 13.631 billion yuan, a growth of 10.8% compared to the end of the previous year [1] - Net assets attributable to shareholders decreased by 11.2% to 3.568 billion yuan [1] Operational Strategy - The company is implementing a strategy to phase out small, outdated kilns while increasing the proportion of large-tonnage production capacity to enhance efficiency and reduce manufacturing costs [2] - The company completed the acquisition of 74.60% of Jiangsu Kaisheng New Material Co., Ltd., which has a project for producing 1.5 million tons of ultra-thin encapsulation materials for photovoltaic modules [2] - The first 1200t/d ultra-thin rolled photovoltaic glass production line at Jiangsu Kaisheng has been successfully put into operation [2] - The 1200t/d ultra-thin rolled photovoltaic glass production line at Qinhuangdao Northern Glass Co., Ltd. was also ignited and achieved production and sales in the same month [2] - As of the end of the reporting period, large-tonnage production capacity accounted for approximately 70% of total capacity [2] - The company is planning a new generation of large-tonnage photovoltaic glass production lines, with the 2000t/d ultra-thin encapsulation materials project at Kaisheng (Zigong) New Energy Co., Ltd. nearing completion of preliminary procedures and expected to start construction in the second half of the year [2]