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12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: 中國玻璃控股有限公司 呈交日期: 2025年12月31日 I. 法定/註冊股本變動 第 1 頁 共 10 頁 v 1.1.1 FF301 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03300 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,836,218,258 | | 0 | | 1,836,218,258 | | 增加 / 減少 (-) | | | | 0 | 0 | | | | 本月底結存 | | | 1,836,218,258 | | 0 | | 1,836,218,25 ...

Core Viewpoint - China Glass (03300.HK) has announced the establishment of a new procurement framework agreement with Kaisheng Resources, effective December 29, 2025, to source raw materials for glass product manufacturing as the existing agreement will expire on December 31, 2025 [1] Group 1 - The new procurement framework agreement is aimed at ensuring a continuous supply of raw materials for the company's glass production [1] - The agreement with Kaisheng Resources is a strategic move to maintain operational efficiency and stability in raw material sourcing [1]

持 續 關 連 交 易－ 新採購框架協議 新採購框架協議 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份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。 根 據 上 市 規 則 的 規 定，本 公 司 將 召 開 股 東 特 別 大 會，以 尋 求 獨 立 股 東 批 准 新 採 購 框 架 協 議 及 年 度 上 限。 獨 立董事委員會 已告成立，旨 在 考 慮 獨 立 財 務 顧 問 的 建 議，審 議 新 採 購 框 架 協 議 及 年 度 上 限，並 向 獨 立 股 東 提 供 意 見。本 公 司 已 委 任 新 百 利 融 資 有 限 公 司 為 其 獨 立 財 務 顧 問，以 就 上 述 事 宜 向 獨 立 董 事 委 員 會 及 獨 立 股 東 提 供 建 議。 茲 提 述 本 公 司 日 期 為 二 零 二 二 年 十 月 二 十 一 日 的 公 告，內 容 有 關（其 中 包 括）本 公 司 之 間 接 全 資 ...

Core Insights - In October 2025, China's imports of fiberglass and its products reached 8,700 tons, marking a year-on-year increase of 9.8% [1] - The import value for the same period was $111 million, reflecting a significant year-on-year growth of 42.9% [1] Import Statistics - The quantity of fiberglass and its products imported by China in October 2025 was 8,700 tons [1] - The import amount in monetary terms was $111 million [1] - The year-on-year growth rates for both quantity and value indicate a robust demand in the market, with quantity increasing by 9.8% and value by 42.9% [1]

Industry Overview - Glass fiber is an inorganic non-metallic material primarily composed of silica, alumina, and calcium oxide, known for its insulation, heat resistance, and corrosion resistance, widely used in construction, transportation, wind power, and electronics [1] - The glass fiber industry has strong linkages with upstream (minerals, chemicals, energy) and downstream sectors (transportation, construction, electronics, and emerging industries) [4] Industry Development - The history of China's glass fiber industry dates back to the late 1940s, with significant growth occurring in the late 1990s, leading to China holding over 50% of global glass fiber production capacity by the 21st century [7] - As of mid-2025, China's glass fiber production capacity is expected to reach 8.7 million tons, indicating ongoing capacity expansion [14] Policy Background - In 2023, various policies were introduced to encourage the development of high-performance glass fiber products, including the "Green Building Materials Industry High-Quality Development Implementation Plan" and "Guidance on Promoting the Recycling of Retired Wind Power and Photovoltaic Equipment" [11][13] Supply and Demand - China's glass fiber production capacity reached over 7.5 million tons in 2022, with a projected increase to 8.7 million tons by mid-2025, indicating a slowdown in capacity expansion [14] - The total production of glass fiber is expected to reach 7.56 million tons in 2024, reflecting a year-on-year growth of 4.6% [15] - The apparent consumption of glass fiber in China is projected to reach 5.64 million tons in 2024, with a year-on-year increase of 1.6% [24] Export and Import Trends - China's glass fiber export volume is expected to reach 2.02 million tons in 2024, the highest in a decade, while imports are projected to decline to 100,000 tons, indicating improved self-sufficiency [21] Revenue Trends - The main business revenue of large-scale glass fiber enterprises in China was approximately 114.8 billion yuan in 2023, with a slight decrease of 0.5% expected in 2024 [26] Competitive Landscape - China Jushi is the leading company in the glass fiber sector, with a revenue of 15.48 billion yuan from glass fiber-related businesses in 2024, while other companies like China National Materials, International Composites, and Changhai Co. also report revenues exceeding 1.5 billion yuan [29] - The major glass fiber companies are concentrated in Jiangsu, Shandong, Shanghai, Zhejiang, and Chongqing, with China Jushi located in Zhejiang [31] Future Development Trends - The industry is expected to phase out low-end capacities while high-end products like electronic-grade glass fiber will see increased demand due to advancements in technologies such as 5G and AI [34] - By 2030, the demand for glass fiber in China is projected to reach 6.54 million tons, driven by sectors like new energy vehicles, wind power, and advanced communication technologies [37]

Core Viewpoint - The report provides a comprehensive analysis of the glass transparent tape industry in China, covering market characteristics, macroeconomic factors, technological advancements, and competitive landscape, with forecasts for the period 2026-2032 [2][3][4]. Group 1: Industry Overview - The glass transparent tape is defined, including its properties, uses, and technical specifications [2]. - The market characteristics include product features, pricing trends, distribution channels, and purchasing behaviors [2]. - The historical development and current state of the glass transparent tape industry are discussed [2]. Group 2: Macroeconomic and Policy Environment - An analysis of China's economic environment from 2021 to 2025 is provided, including GDP and fixed asset investment trends [3]. - The policy environment affecting the glass transparent tape industry is examined, highlighting relevant industry policies and their impacts [3]. Group 3: Technological Environment - The report analyzes current production processes and methods for glass transparent tape in both domestic and international contexts [3]. - The status of technology patents in the industry is reviewed, along with procurement channels for production equipment [3]. Group 4: Market Analysis - Forecasts for production capacity and output of glass transparent tape from 2021 to 2025 and 2026 to 2032 are presented [4]. - Demand analysis for the glass transparent tape market is included, with projections for future market conditions [4]. Group 5: Competitive Landscape - The competitive dynamics of the glass transparent tape industry are assessed, including the bargaining power of suppliers and customers, and the threat of new entrants [4][6]. - A SWOT analysis of the industry is conducted, identifying competitive advantages and threats [4][6]. Group 6: Investment Analysis - The investment value of the glass transparent tape industry is analyzed, focusing on profitability, debt capacity, and return on investment forecasts for 2026-2032 [6]. - Factors supporting industry growth, such as economic expansion and downstream demand, are discussed [6]. Group 7: Future Trends - Predictions for market size, structure, and supply-demand dynamics for the glass transparent tape industry from 2026 to 2032 are provided [6]. - The report highlights potential investment hotspots and future directions for the industry [6].

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11月30日 狀態: 新提交 第 1 頁 共 10 頁 v 1.1.1 致：香港交易及結算所有限公司 公司名稱: 中國玻璃控股有限公司 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 03300 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 3,600,000,000 | HKD | | 0.05 | HKD | | 180,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | | | 本月底結存 | | | 3,600,000,000 | HKD | | 0.05 | HKD | ...

Core Viewpoint - The Chinese fiberglass industry is experiencing significant investment and development, with major companies expanding their operations and focusing on high-performance products to meet market demands [3][5][10]. Group 1: Industry Overview - Major listed companies in the fiberglass industry include China Jushi (600176), Zhongcai Technology (002080), Changhai Co., Ltd. (300196), International Composites (301526), Shandong Fiberglass (605006), Honghe Technology (603256), and Jiuding New Materials (000834) [1]. - The production of fiberglass in China is primarily concentrated in regions such as Jiangsu, Zhejiang, and Shandong, with Jiangsu housing many production enterprises [1]. Group 2: Investment Trends - Since 2022, Chinese fiberglass companies have been expanding through the establishment of subsidiaries, investment funds, and capital increases [3]. - International Composites plans to invest approximately 230.446 million yuan in upgrading electronic-grade fiberglass production lines to enhance market competitiveness [5]. - China Jushi intends to invest around 951.0866 million yuan in a cold repair technical transformation project for a production line with an annual capacity of 200,000 tons [5]. - Changhai Co., Ltd. is collaborating with investment institutions to establish an industrial fund to enhance its business layout [5]. - Zhongcai Technology is set to invest 175.089 million yuan in a low-loss dielectric fiber cloth project to meet AI hardware market demands [5]. - Honghe Technology plans to increase capital by 30 million yuan to support its subsidiary's business development [5]. - Jiuding New Materials aims to invest in high-tech sectors through a partnership with a private equity fund [5]. Group 3: Policy Support - The fiberglass industry has received strong policy support, with initiatives encouraging the development of high-performance fibers and composite materials during the "12th Five-Year Plan" and subsequent plans [6][10]. - The latest "Industrial Structure Adjustment Guidance Catalog (2024)" encourages the development of high-capacity, alkali-free fiberglass production technologies while restricting outdated production capacities [10][11].

Core Insights - The glass industry in Shihezi, Hebei, has developed a complete industrial system and significant market influence, earning it the title of "China Glass City" [1] - The local economy's stability is closely tied to the glass industry's performance, which is characterized by high price volatility [1] - Since 2021, domestic glass prices have dropped significantly, with float glass prices falling from 3100 yuan/ton to around 1200 yuan/ton [1] Group 1: Industry Development - The "1+5" modern industrial system in Shihezi focuses on the glass industry as its core [1] - The introduction of glass futures and options has allowed local companies to manage market risks effectively [2][3] - Over 80% of Shihezi's glass production capacity is now involved in futures hedging, transitioning from a "capacity highland" to a pricing center [1][6] Group 2: Risk Management and Financial Tools - Companies like Zhengda Glass have successfully utilized futures to lock in sales prices and mitigate raw material cost risks [2][3] - In 2023, Zhengda Glass completed a total of 10,000 tons of soda ash buy hedging and 40,000 tons of glass sell hedging, effectively managing production risks [3] - The point pricing model allows downstream companies to choose pricing timing based on their order schedules, reducing the risk of cooperation breakdowns [4] Group 3: Market Transformation - The entry of specialized futures companies has transformed the Shihezi glass market, introducing new business models and risk management strategies [6] - The integration of futures and spot markets has improved inventory management and reduced costs for glass producers [6][7] - Shihezi has evolved from a "price lowland" to a pricing center for three major markets: spot, futures, and bulk commodities [7][8] Group 4: Future Outlook - The use of derivative tools is now seen as a key driver for local industry upgrades and economic stability [8] - The Zhengzhou Commodity Exchange plans to continue optimizing glass futures market services to support the industry's growth [8]

Core Viewpoint - China Glass (03300) has announced a second amended and restated agreement (2025 Agreement) regarding its financing arrangements, changing the repayment date to one year from the effective date of the 2025 Agreement, which is November 13, 2025, with a possible extension of up to six months under certain conditions [1] Group 1 - The company has entered into a second amended and restated agreement for its financing arrangements [1] - The repayment date has been changed to one year from the effective date of the 2025 Agreement [1] - The repayment period may be extended for up to six months if certain conditions are met [1]