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之內 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。 執 行 董 事： 呂國先生 （行 政 總 裁）， 非 執 行 董 事： 董事會會議召開日期 中 國 玻 璃 控 股 有 限 公 司（「本公司」）之 董 事 會（「董事會」）謹 此 宣 佈，董 事 會會議將於 二 零 二 五 年 八 月 二 十 七 日（星 期 三）舉 行，以（其 中 包 括）考 慮 及批准本公司及其附屬公司截至二零二五年六月三十日止六個月之中 期 業 績 及 其 發 佈，以 及 考 慮 派 付 中 期 股 息（如 有）。 承董事會命 中國玻璃控股有限公司 執行董事 呂 國 香 港，二 零二五年八月十三 日 於 本 公 告 日 期，本 公 司 的 董 事 如 下： 湯李煒先生 （主 席） 、解長青先生 及 楊昕宇先生，及 獨 立 非 執 行 董 事： 張佰恒先生、陳華晨先生 及 藍海青女士。 * 僅供識別 ...

Core Insights - Glass microspheres exhibit significant competitive advantages in material applications compared to traditional materials, with widespread use in plastics, coatings, oil extraction, and aerospace [1][11] - The market demand for glass microspheres is continuously growing, driven by the transformation of traditional industries and the rapid development of emerging industries [1][11] Industry Overview - Glass microspheres are a new type of material developed from borosilicate raw materials, with a particle size of 10-250 microns and a wall thickness of 1-2 microns, offering lightweight, low thermal conductivity, high strength, and good chemical stability [2][10] - The market size of China's glass microsphere industry is projected to grow from 1.432 billion yuan in 2015 to 2.767 billion yuan in 2024, with a compound annual growth rate (CAGR) of 7.59% [1][11] - The hollow glass microsphere segment is expected to grow from 716 million yuan in 2015 to 1.522 billion yuan in 2024, with a CAGR of 8.74% [1][11] Industry Chain - The upstream of the glass microsphere industry includes raw materials such as quartz sand, limestone, feldspar, and soda ash, which are crucial for the supply and quality of glass microsphere production [3][6] - The midstream involves the manufacturing of glass microspheres, while the downstream applications include reflective materials, coatings, ceramics, rubber, plastics, filtration materials, oil extraction, and aerospace [3] Production and Demand - China's glass microsphere production is expected to increase from 85,200 tons in 2015 to 170,300 tons in 2024, with a CAGR of 8% [10] - The demand for glass microspheres is projected to rise from 101,600 tons in 2015 to 201,700 tons in 2024, with a CAGR of 7.92% [10] - Hollow glass microspheres are gaining traction, with production expected to grow from 21,300 tons in 2015 to 51,100 tons in 2024, and demand from 25,400 tons to 60,500 tons during the same period [10] Market Trends - The glass microsphere industry is gradually moving towards high-end applications, focusing on high refractive index, high wear resistance, and high purity to meet the needs of aerospace, precision optics, and 5G communications [23] - The industry is expected to diversify its applications into emerging markets such as renewable energy, biomedicine, and electronic packaging, while also developing functional microspheres [24] - Environmental sustainability is becoming a key focus, with efforts to optimize production processes, reduce energy consumption, and explore recycling technologies [25] Key Players - Major players in the global glass microsphere industry are concentrated in developed countries, with significant contributions from companies like 3M, Swarco, and Potters Industries [14] - In China, notable companies include China Steel Group, Wanda Glass Microspheres, and Langsheng Kaibo, which are rapidly expanding their production capabilities [14][17]

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之內 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。 二零二五年八月八日舉行之 股東特別大會投票表決結果 茲 提 述 中 國 玻 璃 控 股 有 限 公 司（「本公司」）日 期 為 二 零 二 五 年 七 月 二 十 四 日 標 題 為「主 要 交 易－威 海 中 玻 融 資 租 賃 安 排 及 股 東 特 別 大 會 通 告」之 通 函（「通 函」）。除 文 義 另 有 所 指 外，本 公 告 所 用 詞 彙 與 通 函 所 界 定 者 具 有 相 同 涵 義。 股東特別大會投票表決結果 本公司董事會宣佈，於二零二五年八月八日舉行之本公司股東特別大會（「股 東特別大會」）上 提 呈 之 該 普 通 決 議 案 已 以 投 票 表 決 方 式 獲 得 正 式 通 過。 投 票 表 決 結 果 如 下： | | 普通決議案 | | | | 票 數（概 | 約%） | | --- | --- ...

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7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8月1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 | | 180,000,000 | 本月底法定/ ...

Industry Overview - Glass Fiber Electronic Cloth, also known as electronic cloth, is a high-performance fabric made from glass fiber, essential for the electronic information industry [1][8] - The demand for glass fiber electronic cloth in China is directly related to its status as a global PCB manufacturing center, driven by strong downstream applications such as consumer electronics, communication, automotive electronics, and AI computing [14][27] - The market size for glass fiber electronic cloth in China is projected to grow from 18.52 billion yuan in 2020 to 28.65 billion yuan in 2024 [14] Product Segmentation - Glass fiber electronic cloth can be categorized based on thickness into thick, thin, ultra-thin, and extremely thin types [4][5] - High-end products include ultra-thin cloth (thickness <28 micrometers) and super-thin cloth (28-35 micrometers), primarily used in high-end smartphones and IC substrates [5][7] - Different types of electronic cloth serve various applications, such as Low Dk/Df cloth for high-speed signal transmission and Low CTE cloth for advanced IC substrates [7][9] Technological Advancements - The industry is experiencing rapid technological iteration, with a focus on performance upgrades, material innovation, and process breakthroughs to meet the demands of high-frequency and high-speed applications in sectors like 5G and AI [11][29] - The transition from first-generation electronic cloth (Dk≈4.0) to third-generation quartz cloth (Dk<3.0) illustrates significant advancements in signal transmission capabilities [29] Market Dynamics - The global supply of electronic-grade glass fiber cloth is increasingly concentrated in China, with domestic companies accelerating the pace of high-end market localization [16][17] - Major players in the market include China Jushi, Owens Corning, and others, with significant production capacities being developed to meet rising demand [16][18] Company Performance - Honghe Technology, a key player in the industry, has seen fluctuations in revenue from 793 million yuan in 2021 to 780 million yuan in 2024, influenced by market conditions and competition [20][23] - The company has successfully developed ultra-thin and extremely thin cloth products, achieving international quality standards and gaining recognition from major global smartphone manufacturers [19][20] Future Trends - The market for glass fiber electronic cloth is expected to continue expanding, driven by the increasing demand for high-performance electronic materials in AI servers and advanced communication devices [27][28] - The shift towards high-end electronic cloth products, such as Low-Dk and Low-CTE materials, is anticipated to be a core growth driver in the coming years [27][29]

Summary of Expert Call on China Glassfiber Cycle Watch Industry Overview - The glass fiber industry is primarily dominated by China, which accounts for over 50% of global capacity. [2] - Major players include Jushi with a market share of 27%, Taishan GF at 12%, and CPIC at 10%, collectively holding around 50% of the market. [2] Supply and Demand Dynamics - As of June 2025, operating capacity reached 8.4 million tons (mt), with full-year production expected to be approximately 8 mt. [2] - Domestic production in the first half of 2025 increased by 10.5% year-over-year (YoY). [2] - Leading producers have shifted their product focus, with over 60% of their output now high-end products, primarily serving the wind power, thermoplastics, and construction sectors. [2] Import and Export Trends - Import volume for the first five months of 2025 rose by 2% YoY, with a preference for high-end products. [3] - Exports declined by 3% YoY, particularly in Europe and the US, while markets in the Middle East, Japan, and Korea saw increases. [3] Inventory and Market Conditions - Price increases at the beginning of the year did not stimulate market demand, leading to effective destocking efforts by manufacturers. [4] - Inventory levels rose gradually in the second quarter, with leading producers experiencing less inventory pressure compared to tier 2 and tier 3 producers. [4] Consumption and Profitability - Apparent consumption for the full year is estimated to exceed 6 mt, reflecting a 13% YoY increase, driven mainly by demand from wind power and thermoplastics. [5] - Wind power installations in 2025 are projected to reach 140 gigawatts (GW), a 75% increase YoY. [5] - Average gross profit per ton in the first half of 2025 was a net loss of RMB 263, with leading producers remaining above the break-even line while tier 2 and tier 3 producers incurred losses. [5] Price Forecast and Market Outlook - Glass fiber prices are expected to remain weak in August, with potential increases in September and October to around RMB 3,500 per ton, before possibly falling to approximately RMB 3,000 per ton by the end of the year. [7] - Low-Dk fabric is identified as a structural bright spot, offering profits approximately ten times higher than normal E-fabric, with a short-term supply gap still present. [7] Key Insights - The glass fiber market is currently at a low point, but differentiated advantages are anticipated to emerge among leading producers. [1] - The shift towards high-end products indicates a strategic response to evolving market demands, particularly in renewable energy sectors. [2][5] - The overall profitability challenges faced by tier 2 and tier 3 producers highlight the competitive pressures within the industry. [5]

Core Viewpoint - The glass insulator market in China is experiencing rapid growth driven by the continuous development of the power infrastructure and the rise of smart grids and renewable energy, with the market size expected to reach 2.641 billion yuan in 2024, a 2.56% increase from 2023 [1][15]. Industry Overview - Insulators are essential components of power systems, providing electrical insulation and mechanical support, typically made from solid insulating materials like ceramics, glass, and composite materials [3]. - Glass insulators, made from tempered glass, are crucial for supporting wires and preventing current leakage, exhibiting excellent resistance to harsh conditions [5]. Market Demand and Supply - The total electricity consumption in China is projected to grow from 7,511 billion kWh in 2020 to 9,852 billion kWh in 2024, leading to increased demand for glass insulators due to accelerated grid construction [9]. - The production of glass insulators is expected to reach 282,500 tons in 2024, reflecting a 1.22% year-on-year increase, driven by significant energy projects [17]. Investment Trends - China's investment in power grid construction is projected to rise from 469.9 billion yuan in 2020 to 608.3 billion yuan in 2024, with a 19.80% increase in the first five months of 2025, indicating a growing demand for glass insulators [13]. Competitive Landscape - The glass insulator market is fragmented, with major players including well-known domestic power equipment manufacturers and specialized insulator manufacturers, leading to intense competition [19]. - Key companies in the industry include Jinlihua Electric, Nanjing Electric Group, Sediver Glass Insulators, and Shandong Ruitai Glass Insulators, among others [20]. Future Development Trends - The glass insulator market is expected to expand due to increasing global energy demands and the need for reliable and efficient power transmission systems, particularly in emerging markets [24]. - The industry's future will focus on green and low-carbon transformations, aligning with national carbon reduction goals, while enhancing international competitiveness through expanded global trade [24].

Group 1 - The company proposed a share buyback on February 7, 2025, initiated by the general manager, Hu Danfeng, and submitted to the board for approval [2] - The board approved the share buyback plan on May 13, 2025, with a unanimous vote of 9 in favor and no opposition [2] - The buyback plan does not require shareholder approval as it was passed by more than two-thirds of the board members present [2] Group 2 - As of June 30, 2025, the company has not yet commenced the share buyback implementation [3] - The company will adhere to relevant regulations and make buyback decisions based on market conditions during the buyback period [4] - The company commits to timely information disclosure regarding the progress of the share buyback [4]

Industry Overview - The glass printer industry is experiencing rapid growth due to advancements in digital technology, allowing for direct image printing on glass without the need for traditional plate-making processes [1][3][13] - The market size for the glass printer industry in China is projected to be approximately 251 million yuan in 2024, a decline from the peak in 2022, influenced by macroeconomic fluctuations and reduced consumer budgets [1][13] - Future growth is expected in high-end decoration, electronic products, and architectural glass sectors, driven by increasing demand for personalized customization and advancements in industrial printing technology [1][13] Key Features of Glass Printers - Glass printers offer multiple material printing capabilities, allowing for direct printing on various flat materials such as glass, crystal, and ceramics [4][5] - They eliminate the need for plate-making, enabling quick and low-cost printing with high-quality results [4][5] - The technology supports single-piece printing and batch production, making it suitable for small-scale, high-precision demands [4][5] Industry Chain - The upstream of the glass printer industry includes raw materials like steel, glass substrates, inks, and core components such as print heads and control chips [7] - The midstream involves the manufacturing of glass printers, while the downstream applications span across construction decoration, home customization, advertising, automotive, and crafts [7][9] Market Dynamics - The demand for steel, a crucial raw material for glass printer manufacturing, is increasing due to growth in construction and manufacturing sectors, with China's steel production projected to rise from 1.05 billion tons in 2017 to 1.4 billion tons by 2024 [9] - The craft industry, a downstream application of glass printers, is also growing, with the market size expected to reach approximately 62.7 billion yuan in 2024, driven by rising consumer income and changing preferences [10] Competitive Landscape - The glass printer industry in China is characterized by a technology-driven and market-segmented competitive landscape, with key players like Shenzhen Longrun Color Printing and Dongguan Jihui focusing on high-end markets and specialized applications [15][16] - Local companies are gradually overcoming international technology barriers through core component development, promoting domestic substitution [15] Future Trends - The industry is expected to move towards smart technology integration, utilizing AI for optimizing printing processes and enhancing operational efficiency [22] - Environmental sustainability will be a focus, with innovations aimed at reducing energy consumption and emissions through the use of water-based inks and modular designs [23] - The rise in consumer demand for customization will drive the development of flexible production capabilities, allowing for intricate designs and functional printing applications [24]

Core Insights - Ant Group's subsidiary, Ant Digital Technology, is collaborating with Hainan Huatie to explore RWA stablecoin ecosystems and blockchain technology integration [1][3] - Hainan Huatie aims to enhance asset liquidity and global investor access through the tokenization of computing power as a foundational asset [3][6] Group 1: Collaboration and Technology Integration - Ant Digital Technology's Web3 product manager and other executives visited Hainan Huatie to discuss deep cooperation in full asset on-chain technology and stablecoin applications [3] - Hainan Huatie's management expressed the intention to embed blockchain technology into the lifecycle management of computing power devices, creating a "trusted device" ecosystem [3] - The collaboration includes Hainan Huatie participating in the development of RWA standard field libraries, which is expected to lower integration costs and enhance asset circulation efficiency [3][5] Group 2: Business Development and Future Prospects - Hainan Huatie has initiated multi-dimensional cooperation with Ant Digital Technology in the RWA field, focusing on a technology empowerment system centered on blockchain, IoT, and AI [5] - The company has made significant progress in the computing power sector, with a total signed computing power service contract amount reaching 20.18 billion yuan as of last September [6][7] - Hainan Huatie's 2024 annual report indicates a cumulative signed computing power service amount of 24.75 billion yuan, which increased to 66.7 billion yuan by March 2025 [7] Group 3: Strategic Goals and Market Positioning - Hainan Huatie is accelerating its layout in the "Belt and Road" initiative and global markets, with the year 2025 marking a significant operational milestone for Hainan Free Trade Port [6] - The company is focusing on integrating data, models, and computing power to embrace the AI industry chain [8]