新疆天业股份有限公司 | 证券代码：600075 | 股票简称：新疆天业 | 公告编号：临 2025-075 | | --- | --- | --- | | 债券代码：110087 | 债券简称：天业转债 | | 新疆天业股份有限公司 公司 2025 年第二次临时股东大会召开前二十个交易日（即 2025 年 8 月 4 日至 2025 年 8 月 29 日）公司股票交易均价为 4.68 元/股，前 1 个交易日（2025 年 8 月 29 日）公 新疆天业股份有限公司 司股票交易均价为 4.55 元/股，公司最近一期经审计的每股净资产为 5.46 元。根据《新 疆天业股份有限公司公开发行可转换公司债券募集说明书》相关条款及公司 2025 年第 二次临时股东大会对董事会的授权，综合考虑上述价格和公司实际情况，公司董事会决 定将"天业转债"转股价格由 6.78 元/股向下修正为 5.60 元/股。 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。 一、董事会会议召开情况 新疆天业股份有限公司（以下简称"公司"）于 2025 年 8 ...

| 证券代码：600075 | 证券简称：新疆天业 | 公告编号：2025-072 | | --- | --- | --- | | 债券代码：110087 | 债券简称：天业转债 | | 新疆天业股份有限公司 2025年第二次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 （一）股东大会召开的时间：2025 年 9 月 1 日 （二）股东大会召开的地点：新疆石河子市经济技术开发区北三东路 36 号公司办公 楼 10 楼会议室 （三）出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1.出席会议的股东和代理人人数 | 573 | | --- | --- | | 2.出席会议的股东所持有表决权的股份总数（股） | 850,483,267 | | 3.出席会议的股东所持有表决权股份数占公司有表决权股份总数的比 | | | 例（%） | 49.8126 | （四）表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 ...

1. Report Industry Investment Rating There is no information provided in the report regarding the industry investment rating. 2. Core Viewpoints of the Report The report presents the top ten convertible bonds for September 2025, including detailed information on each bond such as credit rating, closing price at the end of August, conversion premium rate, and the financial and business conditions of the underlying companies, as well as their key attractions [13][23][35]. 3. Summary by Company 3.1 Zhongte Convertible Bond - **Bond Information**: AAA rating, August closing price of 114.493 yuan, conversion premium rate of 96.64%, and a positive stock PE - TTM of 12.68 [6][13]. - **Company Overview**: A global leader in specialized special - steel materials manufacturing, with a production capacity of about 20 million tons of special - steel materials per year. It has multiple production and raw material bases, forming a strategic layout along the coast and rivers [13]. - **Financial Data**: In 2024, its operating income was 109.203 billion yuan (YoY - 4.22%), net profit attributable to the parent was 5.126 billion yuan (YoY - 10.41%). In the first half of 2025, operating income was 54.715 billion yuan (YoY - 4.02%), and net profit attributable to the parent was 2.798 billion yuan (YoY + 2.67%) [13]. - **Company Highlights**: It is one of the world's most comprehensive special - steel enterprises in terms of variety and specifications, with leading market shares in core products. It has a complete industrial chain and strong cost - control capabilities. It also seeks external expansion opportunities [14]. 3.2 Shanlu Convertible Bond - **Bond Information**: AAA rating, August closing price of 117.2 yuan, conversion premium rate of 48.74%, and a positive stock PE - TTM of 4.02 [6][23]. - **Company Overview**: Mainly engaged in road and bridge engineering construction and maintenance, and is expanding into other fields. It has a complete business and management system [23]. - **Financial Data**: In 2024, its operating income was 71.348 billion yuan (YoY - 2.3%), net profit attributable to the parent was 2.322 billion yuan (YoY + 1.47%). In the first half of 2025, operating income was 28.575 billion yuan (YoY + 0.26%), and net profit attributable to the parent was 1.029 billion yuan (YoY + 0.89%) [23]. - **Company Highlights**: Controlled by the Shandong Provincial SASAC, it has the potential for improvement in its balance sheet, liquidity, and order volume. It is expected to benefit from infrastructure construction in Shandong and the Belt and Road Initiative [24]. 3.3 Hebang Convertible Bond - **Bond Information**: AA rating, August closing price of 121.6 yuan, conversion premium rate of 27.33%, and a positive stock PE - TTM of - 154.7 [6][35]. - **Company Overview**: It has advantages in salt mines, phosphate mines, and natural gas supply. Its business has expanded from single - product operations to multiple sectors including chemicals, agriculture, and photovoltaics [35]. - **Financial Data**: In 2024, its operating income was 8.547 billion yuan (YoY - 3.13%), net profit attributable to the parent was 0.031 billion yuan (YoY - 97.55%). In the first half of 2025, operating income was 3.921 billion yuan (YoY - 19.13%), and net profit attributable to the parent was 0.052 billion yuan (YoY - 73.07%) [35]. - **Company Highlights**: Its phosphate mines and salt mines contribute to profits, and its liquid methionine production is a major profit - contributor [36]. 3.4 Aima Convertible Bond - **Bond Information**: AA rating, August closing price of 127.164 yuan, conversion premium rate of 31.95%, and a positive stock PE - TTM of 14.18 [6][46]. - **Company Overview**: A leading enterprise in the electric two - wheeler industry, producing and selling various electric two - wheelers through dealers [46]. - **Financial Data**: In 2024, its operating income was 21.606 billion yuan (YoY + 2.71%), net profit attributable to the parent was 1.988 billion yuan (YoY + 5.68%). In the first half of 2025, operating income was 13.031 billion yuan (YoY + 23.04%), and net profit attributable to the parent was 1.213 billion yuan (YoY + 27.56%) [46]. - **Company Highlights**: It may benefit from government subsidies for trade - ins, the implementation of new national standards, and has potential for improving gross margins [47]. 3.5 Xingye Convertible Bond - **Bond Information**: AAA rating, August closing price of 124.698 yuan, conversion premium rate of 17.91%, and a positive stock PE - TTM of 6.14 [6][55]. - **Company Overview**: One of the first - established joint - stock commercial banks, evolving into a modern financial service group [55]. - **Financial Data**: In 2024, its operating income was 212.226 billion yuan (YoY + 0.66%), net profit attributable to the parent was 77.205 billion yuan (YoY + 0.12%). In the first half of 2025, operating income was 110.458 billion yuan (YoY - 2.29%), and net profit attributable to the parent was 43.141 billion yuan (YoY + 0.21%) [55]. - **Company Highlights**: It has stable asset quality and scale growth, with a large number of corporate and retail customers [56]. 3.6 Wentai Convertible Bond - **Bond Information**: AA - rating, August closing price of 123.15 yuan, conversion premium rate of 23.63%, and a positive stock PE - TTM of - 19.91 [6][67]. - **Company Overview**: A global leader in semiconductor R & D and manufacturing, adopting the IDM model [67]. - **Financial Data**: In 2024, its operating income was 73.598 billion yuan (YoY + 20.23%), net profit attributable to the parent was - 2.833 billion yuan (YoY - 339.83%). In the first half of 2025, operating income was 25.341 billion yuan (YoY - 24.56%), and net profit attributable to the parent was 0.474 billion yuan (YoY + 237.36%) [67]. - **Company Highlights**: After divesting some subsidiaries, it focuses on the semiconductor business, which has shown growth. Its automotive and consumer electronics businesses also have development potential [68]. 3.7 Chongqing Bank Convertible Bond - **Bond Information**: AAA rating, August closing price of 123.688 yuan, conversion premium rate of 21.55%, and a positive stock PE - TTM of 6.47 [6][78]. - **Company Overview**: One of the earliest local joint - stock commercial banks in the upper reaches of the Yangtze River and Southwest China, with a wide range of business operations [78]. - **Financial Data**: In 2024, its operating income was 13.679 billion yuan (YoY + 3.54%), net profit attributable to the parent was 5.117 billion yuan (YoY + 3.8%). In the first half of 2025, operating income was 7.659 billion yuan (YoY + 7%), and net profit attributable to the parent was 3.19 billion yuan (YoY + 5.39%) [78]. - **Company Highlights**: It benefits from the national strategy of the Chengdu - Chongqing economic circle, has stable asset - scale growth, and actively adjusts its credit strategy [79]. 3.8 Tianye Convertible Bond - **Bond Information**: AA + rating, August closing price of 123.717 yuan, conversion premium rate of 84.35%, and a positive stock PE - TTM of 146.1 [6][90]. - **Company Overview**: A leading enterprise in the chlor - alkali chemical industry in Xinjiang, with an integrated circular economy industrial chain [90]. - **Financial Data**: In 2024, its operating income was 11.156 billion yuan (YoY - 2.7%), net profit attributable to the parent was 0.068 billion yuan (YoY + 108.83%). In the first half of 2025, operating income was 5.16 billion yuan (YoY - 0.98%), and net profit attributable to the parent was - 0.009 billion yuan (YoY - 228.22%) [90]. - **Company Highlights**: It has relatively stable caustic soda production costs and plans to increase dividend frequency, while its group is promoting two coal - mine projects [91]. 3.9 Huanxu Convertible Bond - **Bond Information**: AA + rating, August closing price of 127.8 yuan, conversion premium rate of 24.45%, and a positive stock PE - TTM of 27.85 [6][101]. - **Company Overview**: A global leader in electronic manufacturing design, providing value - added services to brand customers [101]. - **Financial Data**: In 2024, its operating income was 60.691 billion yuan (YoY - 0.17%), net profit attributable to the parent was 1.652 billion yuan (YoY - 15.16%). In the first half of 2025, operating income was 27.214 billion yuan (YoY - 0.63%), and net profit attributable to the parent was 0.638 billion yuan (YoY - 18.66%) [101]. - **Company Highlights**: It is a leading manufacturer of smart - wearable SiP modules and has strengthened its R & D and production capabilities in key fields through global expansion [102]. 3.10 Yushui Convertible Bond - **Bond Information**: AAA rating, August closing price of 124.714 yuan, conversion premium rate of 28.15%, and a positive stock PE - TTM of 27.4 [6][111]. - **Company Overview**: The largest integrated water supply and drainage enterprise in Chongqing, with a monopoly position in the local market [111]. - **Financial Data**: In 2024, its operating income was 6.999 billion yuan (YoY - 3.52%), net profit attributable to the parent was 0.785 billion yuan (YoY - 27.88%). In the first half of 2025, operating income was 3.519 billion yuan (YoY + 7.16%), and net profit attributable to the parent was 0.458 billion yuan (YoY + 10.06%) [111]. - **Company Highlights**: It has a high market share in Chongqing, is expanding its business externally, and has achieved cost control through intelligent applications [112].

Company Performance - In the first half of 2025, the company achieved operating revenue of 5.16 billion yuan and a total profit of 37.61 million yuan, representing a year-on-year increase of 37.78%. However, the net profit attributable to shareholders was a loss of 8.58 million yuan. In Q2 2025, the net profit attributable to shareholders turned positive at 8.79 million yuan [2] - The company has established a comprehensive green and low-carbon circular economy industrial chain, leveraging abundant local resources such as coal, salt, and limestone. This includes a production capacity of 1.34 million tons of PVC, 970,000 tons of ion membrane caustic soda, 2.13 million tons of calcium carbide, and 250,000 tons of ethanol, along with self-supplied power stations [2] Cost Management - The company faced significant price declines in its main product, PVC resin, due to market fluctuations and macroeconomic conditions. However, the prices of key raw materials like coal and coke also decreased compared to the previous year. The implementation of refined management and an integrated industrial chain has effectively controlled manufacturing costs and expenses, leading to a notable increase in total profit [3] - During the reporting period, the company reduced its sales, management, and financial expenses by 33.58%, 6.23%, and 9.52% respectively compared to the same period last year [3] Industry Outlook - The company anticipates that macroeconomic stimulus policies and ongoing "anti-involution" measures will positively impact the PVC market. Additionally, the update of outdated equipment in the caustic soda sector is expected to gradually improve the supply-demand balance, enhancing the overall prosperity of the chlor-alkali industry [4] - In the caustic soda industry, the supply-demand fundamentals are becoming more relaxed, with prices having peaked and then declined. The second half of 2025 is expected to see increases in domestic production, consumption, and exports, although supply growth may slightly outpace demand growth, leading to potential price fluctuations [3]

（文章来源：证券日报） 证券日报网讯 8月27日晚间，新疆天业发布公告称，公司及控股子公司不存在逾期担保、涉及诉讼的对 外担保及因担保被判决败诉而应该承担的损失金额。 ...

Core Viewpoint - Xinjiang Tianye reported a decline in revenue and a significant net loss for the first half of 2025 compared to the previous year [1] Financial Performance - The company achieved operating revenue of 5,160,323,492.01 yuan for the first half of 2025, representing a year-on-year decrease of 0.98% [1] - The net profit attributable to shareholders of the listed company was -8,574,998.58 yuan, which is a decrease of 228.22% compared to the same period last year [1]

Core Viewpoint - Xinjiang Tianye (600075.SH) reported a slight decline in revenue for the first half of 2025, indicating potential challenges in maintaining growth [1] Financial Performance - The company achieved an operating income of 5.16 billion yuan, representing a year-on-year decrease of 0.98% [1] - The net profit attributable to shareholders was -8.575 million yuan, indicating a loss [1] - Basic earnings per share were reported at -0.0050 yuan [1]

Core Viewpoint - The financial performance of Xinjiang Tianye Co., Ltd. for the first half of 2025 shows a decline in net profit and revenue, despite an increase in total profit compared to the previous year [1][3]. Financial Summary - Total assets at the end of the reporting period amounted to CNY 20.77 billion, a 1.17% increase from the previous year [1]. - Net assets attributable to shareholders decreased by 0.45% to CNY 9.28 billion [1]. - Operating revenue for the period was CNY 5.16 billion, down 0.98% year-on-year [1]. - Total profit reached CNY 37.61 million, representing a 37.78% increase from CNY 27.30 million in the previous year [1]. - The net profit attributable to shareholders was a loss of CNY 8.57 million, a significant decline of 228.22% compared to a profit of CNY 6.69 million in the same period last year [1]. - The net profit after deducting non-recurring gains and losses was CNY -31.62 million, a decrease of 55.41% from CNY -20.35 million [1]. - The net cash flow from operating activities was CNY -240.25 million, a decrease of 137.32% from CNY 643.79 million [1]. - The weighted average return on net assets was -0.092%, down 0.1643 percentage points from the previous year [1]. - Basic and diluted earnings per share were both CNY -0.005, a decrease of 228.21% from CNY 0.0039 [1]. Key Operational Insights - The average price of the main product, caustic soda, increased year-on-year, positively impacting gross profit [2]. - However, the average prices of polyvinyl chloride (PVC) resin and its variants saw significant declines, negatively affecting gross profit by CNY 41.35 million [2]. - The average procurement prices of key raw materials such as coal and lime decreased, contributing to a gross profit increase of CNY 25.95 million [2]. - The company implemented refined management and an integrated industrial chain to effectively control manufacturing costs and expenses, resulting in a total profit increase [2].

证券代码：600075 股票简称：新疆天业 公告编号：临 2025-065 债券代码：110087 债券简称：天业转债 新疆天业股份有限公司 新疆天业股份有 限公司 二、董事会会议审议情况 议案同意票 9 票，反对票 0 票，弃权票 0 票) 详见与本公告一同披露的《新疆天业股份有限公司 2025 年半年度报告》及摘要。 用情况的专项报告》的议案。(该项议案同意票 9 票，反对票 0 票，弃权票 0 票) 详见与本公告一同披露的《新疆天业股份有限公司关于 2025 年半年度募集资金存 放与实际使用情况的专项报告》。 特此公告。 新疆天业股份有限公司董事会 九届十四次董事会会议决议公告 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。 一、董事会会议召开情况 新疆天业股份有限公司（以下简称"公司"）于 2025 年 8 月 17 日以书面方式发出 召开九届十四次董事会会议的通知，会议于 2025 年 8 月 27 日在公司九楼会议室以现场 加网络视频方式召开，应到董事 9 名，实到董事 9 名，公司监事及全部高管人员列席本 次会议 ...

Group 1 - The company held its 11th Supervisory Board meeting on August 27, 2025, with all 5 supervisors present, complying with relevant laws and regulations [2] - The meeting approved the company's 2025 semi-annual report and a special report on the use of raised funds, with unanimous support from all supervisors [2] - The independent opinion confirmed that the preparation and review procedures of the semi-annual report met all legal and regulatory requirements, and the report accurately reflects the company's operational and financial status [3] Group 2 - The independent opinion stated that the content and format of the semi-annual report comply with the requirements of the China Securities Regulatory Commission and the stock exchange [3] - No violations of confidentiality were found among the personnel involved in the preparation and review of the report [3] - The report was confirmed to reflect the actual situation of the company during the reporting period without any false records [3]