二、审议并通过了《关于终止实施 2021 年 A 股股票期权激励计划暨注销股 票期权的议案》 监事会认为：公司终止本次激励计划符合《中华人民共和国公司法》《中华 人民共和国证券法》《上市公司股权激励管理办法》等相关法律、法规、规范性 文件及公司《2021 年 A 股股票期权激励计划》的规定，不存在损害公司及全体 股东利益的情形，不会对公司日常经营产生重大不利影响，亦不会影响公司管理 | 证券代码：601865 | 证券简称：福莱特 | 公告编号：2025-030 | | --- | --- | --- | | 转债代码：113059 | 转债简称：福莱转债 | | 福莱特玻璃集团股份有限公司 第七届监事会第四次会议决议的公告 本公司监事会及全体监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。 福莱特玻璃集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 4 月 14 日以电子邮件及电话的方式向公司全体监事人员发出了召开第七届监 事会第四次会议的通知，并于 2025 年 4 月 29 日在公司会议室以现场及电子通讯 相结合的方式召开。 ...

| 证券代码：601865 | 证券简称：福莱特 | 公告编号：2025-029 | | --- | --- | --- | | 转债代码：113059 | 转债简称：福莱转债 | | 福莱特玻璃集团股份有限公司 第七届董事会第六次会议决议的公告 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。 福莱特玻璃集团股份有限公司（以下简称"公司"或"本公司"）于 2025 年 4 月 14 日以电子邮件及电话的方式向公司全体董事、监事及高级管理人员发出了召开 第七届董事会第六次会议的通知，并于 2025 年 4 月 29 日在公司会议室以现场及电 子通讯相结合的方式召开。本次会议应到董事 8 名，实到董事 8 名。公司监事及高 级管理人员列席了会议。会议由公司董事长阮洪良先生主持。会议的召集和召开程 序符合《公司法》《证券法》等有关法律、法规和《公司章程》的规定。经与会董事 充分审议并经过有效表决，以记名投票表决的方式审议通过以下议案： 一、审议并通过了《关于公司 2025 年第一季度报告的议案》 表决结果：同意 8 票、反对 0 票 ...

| 证券代码：601865 | 股票简称：福莱特 | 公告编号：2025-032 | | --- | --- | --- | | 转债代码：113059 | 转债简称：福莱转债 | | 福莱特玻璃集团股份有限公司 关于终止实施 2021 年 A 股股票期权激励计划 暨注销股票期权的公告 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。 福莱特玻璃集团股份有限公司（以下简称"公司"）于 2025 年 4 月 29 日召开 了第七届董事会第六次会议及第七届监事会第四次会议，分别审议通过了《关于 终止实施 2021 年 A 股股票期权激励计划暨注销股票期权的议案》，根据《上市 公司股权激励管理办法》及《福莱特玻璃集团股份有限公司 2021 年 A 股股票期 权激励计划》（以下简称"本次激励计划"）的有关规定，结合公司实际情况， 公司拟终止实施 2021 年 A 股股票期权激励计划并注销激励计划已授予但尚未行 权的股票期权，本事项尚需提交公司股东大会审议。现将有关事项公告如下： 一、本次激励计划已履行的决策程序和信息披露情况 1、202 ...

国浩律师（南京）事务所 国浩律师(南京)事务所 法律意见书 关于 福莱特玻璃集团股份有限公司 终止实施 2021 年 A 股股票期权激励计划 并注销相关股票期权 之 法律意见书 中国江苏省南京市汉中门大街 309 号 B 座 5-7-8 层（210036） 7-8/F, Block B, 309 Hanzhongmen Dajie, Nanjing, China, 210036 电话/Tel: +86-25-89660900 传真/Fax: + 86-25-89660966 网址/Website: http://www.grandall.com.cn 2025 年 4 月 国浩律师（南京）事务所 关于福莱特玻璃集团股份有限公司 终止实施 2021 年 A 股股票期权激励计划 并注销相关股票期权之 法律意见书 致：福莱特玻璃集团股份有限公司 国浩律师（南京）事务所（以下简称"本所"）接受福莱特玻璃集团股份有 限公司（以下简称"福莱特"或"公司"）委托，根据《中华人民共和国公司法》 （以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券 法》"）、《上市公司股权激励管理办法》（以下简称"《管理办法 ...

Financial Performance - The company's operating revenue for Q1 2025 was ¥4,079,288,887.46, a decrease of 28.76% compared to ¥5,725,831,610.97 in the same period last year[4] - Net profit attributable to shareholders was ¥106,128,157.99, down 86.03% from ¥759,878,695.37 year-on-year[4] - Basic and diluted earnings per share were both ¥0.05, representing an 84.38% decline from ¥0.32 in the previous year[4] - Total revenue for Q1 2025 was CNY 4,079,288,887.46, a decrease of 28.8% compared to CNY 5,725,831,610.97 in Q1 2024[14] - Net profit for Q1 2025 was CNY 105,723,590.50, a significant decline of 86.0% compared to CNY 758,632,164.14 in Q1 2024[15] - Basic and diluted earnings per share for Q1 2025 were CNY 0.05, down from CNY 0.32 in Q1 2024[16] Cash Flow - The net cash flow from operating activities was ¥166,977,577.54, a decrease of 72.22% compared to ¥600,981,736.90 in the same period last year[4] - In Q1 2025, the net cash flow from operating activities was $166.98 million, a decrease of 72.2% compared to $600.98 million in Q1 2024[17] - Total cash inflow from operating activities in Q1 2025 was $2.31 billion, down 21% from $2.92 billion in Q1 2024[17] - Cash outflow from investing activities in Q1 2025 was $2.07 billion, an increase from $1.34 billion in Q1 2024, resulting in a net cash outflow of $654.34 million[17] - Cash inflow from financing activities in Q1 2025 was $1.33 billion, a decrease of 53% compared to $2.83 billion in Q1 2024[18] - The net cash flow from financing activities improved to $118.23 million in Q1 2025, compared to a net outflow of $40.83 million in Q1 2024[18] - The ending cash and cash equivalents balance for Q1 2025 was $4.15 billion, down from $4.72 billion in Q1 2024[18] - The company received $1.39 billion from investment recoveries in Q1 2025, compared to no recoveries in Q1 2024[17] - The company paid $994.11 million for the acquisition of fixed assets in Q1 2025, a decrease from $1.29 billion in Q1 2024[17] - The cash flow from tax refunds in Q1 2025 was $73.67 million, significantly lower than $221.19 million in Q1 2024[17] - The impact of exchange rate changes on cash and cash equivalents in Q1 2025 was a positive $3.25 million, contrasting with a negative impact of $795.55 thousand in Q1 2024[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥43,090,138,408.78, a slight increase of 0.40% from ¥42,919,798,033.81 at the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 43,090,138,408.78, slightly up from CNY 42,919,798,033.81 at the end of 2024[12] - Total liabilities as of March 31, 2025, were CNY 21,277,987,864.61, an increase from CNY 21,135,637,157.78 at the end of 2024[12] - Current assets totaled CNY 13,530,844,336.03 as of March 31, 2025, compared to CNY 13,877,046,036.11 at the end of 2024[12] - Non-current assets increased to CNY 29,559,294,072.75 as of March 31, 2025, from CNY 29,042,751,997.70 at the end of 2024[12] - The company reported a decrease in inventory to CNY 1,465,451,152.54 as of March 31, 2025, from CNY 1,732,831,478.80 at the end of 2024[12] - The company’s cash and cash equivalents decreased to CNY 4,837,877,931.84 as of March 31, 2025, from CNY 5,294,894,127.46 at the end of 2024[12] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 64,766[7] - The top ten shareholders held a combined 70.58% of the company's shares, with HKSCC NOMINEES LIMITED holding 18.85%[8] Market Conditions - The company experienced a significant decline in revenue primarily due to a sharp drop in the selling price of photovoltaic glass compared to the same period last year[6] - The company reported a 42.48% decrease in trading financial assets, mainly due to a reduction in the balance of bank wealth management products held at the end of the period[6] Return on Equity - The weighted average return on equity was 0.49%, down 2.88 percentage points from 3.37% year-on-year[5]

福莱特玻璃集团股份有限公司 董事会提名委员会工作制度 第一章 总则 第一条 为规范福莱特玻璃集团股份有限公司（以下简称"公司"或"本公 司"）董事、高级管理人员的产生，优化董事会组成，完善公司治理结构，根据 《中华人民共和国公司法》（以下简称"《公司法》"）、《上市公司治理准则》、《上 市公司独立董事管理办法》、《上海证券交易所股票上市规则》（简称"《上交所上 市规则》"）、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》、《香 港联合交易所有限公司证券上市规则》（简称"《联交所上市规则》"）、《福莱特 玻璃集团股份有限公司章程》（以下简称"《公司章程》"）及其他有关规定，公 司特设立董事会提名委员会，并制定本工作制度。 第二条 董事会提名委员会是董事会下设立的专门工作机构，主要负责对公 司董事和高级管理人员的人选、选择标准和程序进行选择并提出建议。 第二章 人员组成 第三条 提名委员会成员由三名董事组成，其中独立非执行董事占多数。 第四条 提名委员会委员由董事长、二分之一以上独立非执行董事或者全体 董事的三分之一提名，并由董事会选举任命。 程序，对董事、高级管理人员人选及其任职资格进行遴选、审核 ...

Financial Performance - The company's operating revenue for the first quarter was RMB 4,079,288,887.46, a decrease of 28.76% compared to the same period last year[8]. - Net profit attributable to shareholders was RMB 106,128,157.99, down 86.03% year-on-year[8]. - Basic and diluted earnings per share were both RMB 0.05, representing an 84.38% decline from the previous year[8]. - Total revenue for Q1 2025 was RMB 4,079,288,887.46, a decrease of 28.8% compared to RMB 5,725,831,610.97 in Q1 2024[22]. - Operating profit for Q1 2025 was RMB 109,900,441.45, a significant decline of 87.2% from RMB 860,678,127.47 in Q1 2024[22]. - The company reported a net profit of RMB 105,723,590.50 for Q1 2025, compared to RMB 758,632,164.14 in Q1 2024, reflecting a decrease of 86.0%[22]. - Total comprehensive income for Q1 2025 was approximately ¥102.79 million, down 86.96% from ¥731.75 million in Q1 2024[23]. - Basic and diluted earnings per share for Q1 2025 were both ¥0.05, compared to ¥0.32 in Q1 2024, reflecting a decline of 84.38%[23]. - Sales revenue for Q1 2025 was approximately ¥2.19 billion, a decrease of 17.61% from ¥2.66 billion in Q1 2024[25]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 72.22% to RMB 166,977,577.54[8]. - Cash flow from operating activities for Q1 2025 was ¥166.98 million, a decrease of 72.14% from ¥600.98 million in Q1 2024[25]. - Cash flow from investing activities for Q1 2025 was negative at ¥654.34 million, an improvement from negative ¥1.32 billion in Q1 2024[25]. - Cash flow from financing activities for Q1 2025 generated a net inflow of ¥118.23 million, compared to a net outflow of ¥40.83 million in Q1 2024[26]. - Cash and cash equivalents as of March 31, 2025, were RMB 4,837,877,931.84, down from RMB 5,294,894,127.46 as of December 31, 2024[19]. - Total cash and cash equivalents at the end of Q1 2025 were approximately ¥4.15 billion, down from ¥4.72 billion at the end of Q1 2024[26]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 43,090,138,408.78, an increase of 0.40% from the end of the previous year[10]. - Total assets increased to RMB 43,090,138,408.78 as of March 31, 2025, compared to RMB 42,919,798,033.81 as of December 31, 2024[19]. - Total liabilities amounted to RMB 21,277,987,864.61 as of March 31, 2025, slightly up from RMB 21,135,637,157.78 as of December 31, 2024[20]. - The company’s total equity increased to RMB 21,812,150,544.17 as of March 31, 2025, compared to RMB 21,784,160,876.03 as of December 31, 2024[20]. Operational Insights - The company experienced a significant drop in sales prices of photovoltaic glass, which contributed to the decline in revenue[13]. - The company reported a 347.51% increase in prepaid expenses, primarily due to increased payments to suppliers[13]. - The company has not disclosed any new product developments or market expansion strategies in this report[6]. - Research and development expenses for Q1 2025 were RMB 134,857,776.99, down from RMB 160,219,492.71 in Q1 2024, a decrease of 15.7%[22]. - The company’s inventory decreased to RMB 1,465,451,152.54 as of March 31, 2025, from RMB 1,732,831,478.80 as of December 31, 2024, indicating a reduction of 15.4%[19]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 64,766[14].

福莱特(601865.SH)公告称，2025年第一季度 营业收入40.79亿元，同比下降28.76%；归属于上市公司股 东的 净利润1.06亿元，同比下降86.03%。主要原因是光伏 玻璃销售价格相比上年同期大幅下降。同 时，公司经营活动产生的现金流量净额为1.67亿元，同比下降72.22%，主要是营业收入下降引起的销售 回款减少所致。 ...

Group 1 - The top three companies with the highest short positions are WuXi AppTec (02359), Ganfeng Lithium (01772), and Vanke Enterprises (02202), with short ratios of 15.63%, 14.23%, and 13.24% respectively [1][2] - The company with the largest increase in short positions is China Ruifeng (00136), which saw an increase of 2.52%, followed by Vanke Enterprises (02202) with an increase of 1.49%, and Rongchang Biologics (09995) with an increase of 1.18% [1][2] - The companies with the largest decrease in short positions include Zai Ding Pharmaceuticals (09688) with a decrease of 1.31%, Midea Group (00300) with a decrease of 0.80%, and Kanglong Chemical (03759) with a decrease of 0.76% [1][3] Group 2 - The latest short position data shows that the short ratio for WuXi AppTec decreased from 6168.69 million shares to 6050.95 million shares, while Ganfeng Lithium decreased from 5893.42 million shares to 5743.15 million shares [2] - The short ratio for Vanke Enterprises increased from 259 million shares to 292 million shares, indicating a growing bearish sentiment [2] - Other notable companies with significant changes in short positions include ZTE Corporation (00763) and Brilliance China Automotive (01114), with short ratios of 12.54% and 12.18% respectively [2]

Core Viewpoint - The company reported a decline in revenue and net profit for 2024, with expectations for potential recovery in profitability due to rising glass prices in the solar industry [1][2]. Financial Performance - The company achieved a revenue of 18.683 billion yuan in 2024, a year-on-year decrease of 13.20% [1]. - The net profit attributable to shareholders was 1.007 billion yuan, down 63.52% year-on-year [1]. - In Q4 2024, revenue was 4.079 billion yuan, a decline of 27.67% year-on-year, with a net profit of -289 million yuan, a decrease of 136.54% year-on-year [1]. - The operating cash flow for 2024 was 5.914 billion yuan, an increase of 200.65% year-on-year, indicating strong cash flow [1]. Cost and Margin Analysis - The gross margin for 2024 was 15.50%, down 6.3 percentage points year-on-year, with Q4 gross margin at 2.88%, a decrease of 3.09 percentage points quarter-on-quarter [2]. - The company's expense ratio for 2024 was 7.5%, an increase of 0.5 percentage points year-on-year, but Q4 expenses decreased by 3.65 percentage points quarter-on-quarter due to reduced sales and financial expenses [1][2]. Capacity and Market Strategy - The company has a total production capacity of 19,400 tons per day as of the end of 2024, with plans to launch projects in Anhui and Nantong based on market conditions [2]. - The company is expanding its overseas presence, with existing production capacity of 2,000 tons per day in Vietnam and plans to invest in a glass furnace in Indonesia to meet regional demand [2]. Profit Forecast and Investment Recommendation - The company anticipates improved performance in Q1 2025 due to a surge in solar component prices driven by policy changes, although the supply-demand relationship in the industry has not shown significant improvement [2]. - Projected net profits for 2025, 2026, and 2027 are 1.272 billion yuan, 1.882 billion yuan, and 2.257 billion yuan, representing year-on-year growth of 26.41%, 47.88%, and 19.96% respectively [2]. - Earnings per share (EPS) are expected to be 0.54 yuan, 0.80 yuan, and 0.96 yuan for the same years, with corresponding price-to-earnings (PE) ratios of 34.21, 23.13, and 19.29 based on the closing price of 18.58 yuan on March 28, 2025 [2].